hi, everyone, welcome to "on the money. i'm becky quick. his job is to fund the search for new drugs for rare diseases but that mission became personal after a doctor's diagnosis what is a granny pod the new trend that can keep your aging parents close to home an we mean really close don't look now eclipse is coming and that means someone is making money. bargains that aren't school supplies and forget about putting fido and fluffy in concrete kennels the new high end vacations for your cat or dog. "on the money" starts right now.

>> this is "on the kmoney", your money, your life, your future. now, becky quick. >> we begin with a story of courage. jonathan silversteen spent time creating new drugs to cure rare diseases this week's cover story is race for a cure >> making smart bets on potential new medicines is how health care venture capitalist built a 20 year career the stakes just got a lot more personal. >> it wasn't until i saw a movement specialist i had a slight tremor in my left leg that he was able to put it together and say these are symptoms of park inson's disease. >> he has a genetic form of the disease, like for other forms of parkinson's there are no drugs approved to cure it or slow its course jonathan and his wife natalie

decided to take action. >> given the fact that jonathan works in this space, we're sort of uniquely positioned to potentially make a difference. >> they foundeded silverstein foundation. >> i sent out 1,000 letters to venture capitalists and ceos and hospitals and research labs and they came back with literally dozens of ideas. >> he's been traveling the world meeting with researchers and donating blood and tissue and stem cells. >> got a letter from mike in ohio, sent me a check for $18 and he said i've got parkinson's with uba let's get it done. that is as good motivation as anything >> silverstein knows firsthand how difficult drug development is but helped fuel advancement of medicines before. >> i've seen miracles happen and now i've got to create another miracle. >> already jonathan made strides

raising $6 million and founding a company and in the notoriously slow world of drug development, moving at lightning speed. for more on this we're joined by jonathan and natalie, co-founders of the silverstein foundation, thank you both for being here. >> thanks, appreciate it. >> let's talk about your story you found out about this diagnosis about six months ago. >> that's right. >> was it a complete surprise and what did you do first? >> we have no family members that have parkinson's. it was a complete surprise we said a 501 c 3 and got a tax i.d. number and website and put together a scientific advisory board of the world's experts in drug development and drug discovery and reached out to about 1,000 different institutions and individuals that we thought could be helpful. then we started reviewing those opportunities and we really bucketed those into nine

different areas, gene therapy, gene editinging, immunology and cell therapy and which areas make more sense to go after first. and gene therapy and buy logics. >> a lot of people have thrown into into the space, trying to find things. many are disappointed. what's different about this? >> we've learned a lot about the mistakes from the past and understand more about the disease than we ever have, it's a genetic disease. and i think that we haven't taken some of the approaches that we are taking now never been a gene therapy approach going after gba, replacement approach after gba we think these are really smart ideas and targets are addressable. >> natalie, when you first heard about this and what you've done

since then, what's the response you've gotten from the community and starting the foundation? >> obviously when you tell family and friends this is happening we're a young family and part of a large community so we just -- the response has been sort of overwhelming but what's incredible is you put yourself out there with something like this and people that you don't know come out of the wood work, there have been people reaching out offering ideas, offering support. i think what's really great and what i try and tell my kids, when you help other people, you help yourself. we're doing this not just to find a cure for jonathan but hopefully for everyone with parkinson's, maybe a different form of parkinson's, some of the work they are doing may be applicable to other forms. it's exciting and motivating to get up and know you have something positive to work on. >> you mentioned that there are so many different types of parkinson's for people who aren't familiar with it.

what are the causes and types? >> to oversimplify things there are genetic forms like gba, what i have, 5% of the population, lrrk 2, a lot of research going on. >> also genetic? >> yes, 6% of the population the rest of it is sporadic or idiopathic, parkinson's, we don't fully appreciate why people get those, a lot of farmers get it with exposure to insect sides the most clear thing we know now in the genetic form, you can appreciate the targets a little bit better than you can in the more sporadic or i hdiopathic forms. >> you've created miracles before found miracles before, you're working at light ning speed what is the best case and sir toshio for how quickly something could get resolved >> the best case scenario,

create four different biotech companies and my hope is to get two different drugs into human clinical trial next year if those are successful, we'll be able to open up to larger clinical studies. >> that sounds like a long process for those going through that but that's incredibly quick for getting fda approval and human trials. >> one of the beauties ever being in venture capitals, you make a lot of friends and they are willing to help giving their money and time and resources and introductions to other people. so with the support of so many different people from the industry, the light has been shown on this field and people want a result that's going to be positive. >> and that's what we are hoping for everyone too we thank you both for sharing your story with us today. >> thank you. >> it's wonderful to see a plan of action seeing how something can come about we really appreciate both of

your time today. >> thank you for having us. >> folks, by the way, for more information on parkinson's and go to the silverstein foundation, check it out silverstein foundation.org thanks again to jonathan and natalie. >> now here's a look at what's making news as we head into a new week minutes from the federal reserve's open market committee in july were released this week. they show that the janet yellen led fed is not likely to raise rates soon members were concerned about a lack of inflation and wanted to make sure it was temporary before they raise rates again. the fed held rates steady at the last meeting which are low by historical measures. all of that sent markets higher on wednesday but the dow fell more than 275 points for the second worst day of the year on thursday after the terrorist attack in barcelona. the nasdaq and s&p 500 fell on that news as well. stocks continued down on friday. americans were busy shopping last month retail sales climbed 0.6%,

biggest increase in seven months, cars and construction materials and shopped online retail sales are closely watched because consumers make up two thirds of the u.s. company up next, countdown to the eclipse. who's cashing in on the big spectacle in the sky later, if aging parents need to be close to home but living in the same house is too close, maybe a granny pod is the answer here's the stock market end of the week

it is wood stock for star gazers on monday part of the united states will fall under the path of the total solar eclipse it will darken from oregon to south carolina about a stretch of land 70 miles wide known as

the path of totality a it's something that's really going to happen. during the eclipse the moon will cover the sun moving 1500 miles an hour and seen as a partial eclipse outside of the prime viewing area if you miss it, you can mark your calendar for april of 2024, the next one that take place over the united states millions of traveling great distances to get a front row seat and has many businesses over the moon. get it eric is here with more on this eric, this is something that if you want to get there, a lot of people have to get there using arlss, are they making money on this. >> >> you're looking at 400% increases in bookings to a lot of locations along the path and 400% increase in prices of bookings a lot of demand to get there but it's trains, amtrak sold out within one day to have a customized eclipsed following train and avis mentioned the eclipse will be a big driver of earnings in the quarter.

all of these transportation messages are seeing a big boost. >> if you are going to go to one of these areas along the path of totality, you need somewhere to stay. >> a lot of these hotels and we talked to big companies like hilton, all out of rooms at this point. if you want a room, it's going to be really expensive air bnb, a lot of people sold out their spaces for a lot of money. if you want to go somewhere interesting, hip camp.com, you can rent out the farmland or backyard if you want to stay with a bunch of horses in the middle of near, that's about $400. that's a real place along the path. >> that's cool. >> in the middle of nowhere, that's 400 bucks. >> you mentioned that the airline prices were about 400% higher and hotel prices are up is there other gouging taking place? >> you see it with airlines and hotels and other situations where people are seeing a local motel, where your reservation will get canceled other it's a

computer glitch and now the price it ten times now there are reports of that. >> it's not just local businesses making money too, national brands are out there. >> national brands are out there. krispy kreme is doing a big thing. but the big echt seller amazon, anywhere else, it's these glasses. you can't look that's for you i brought mine. >> good, you won't make me nerd out. >> this is what you need to look at in the sun. you don't want to look at it with your eyes or do it with just your regular sunglasses. >> i can't see anything. >> i can't see anything, if i look at the lights -- >> might see a little dot. >> you can't actually -- will you able to see the eclipse? >> i tested it out earlier, if you put a iphone flashlight you'll see the tiniest dot. >> did you look at the sun with them yet >> i haven't yet. >> it's raining today. >> all of the safety information and best places to watch if you're not necessary in the path of totality.

>> i'm keeping these. >> you should keep them. use them on monday. >> i will, thank you. >> we appreciate it. >> baby boomers may remember the last eclipse in the united states, all the way back in 1979 as those aging boomer parents require more care, living alone is no longer an option but instead of going to a retirement facility, some families are putting what's called a granny pod, a tiny house in the backyard jane wells explains. >> we have a living room dining room with large windows for light. >> 67-year-old jane baldwin is on the move making a big change. >> how's your health >> high health is perfect now that i've gotten my second hip replaced. >> she raised a family in wyoming and son is raising a family in oakland california and she wants to be close to help but not too close. >> that wouldn't work long term living with my son under the same roof. >> instead she built a tiny 400 square foot house in her son's

backyard nicknamed a granny pod. the census bureau predicts one in five americans will be over the age 65 by 2030 and most will need some sort of assisted care. there isn't enough assisted living to meet demand. >> have you figured out where everything is going to go? >> not at all. >> architects discovered a new niche business, granny pods. laws in six states allow granny pods but in many cases they have to be temporary structures this one is a permanent one. because they are so expensive, if it's only temporary, it may not be for everyone. >> if people can age in place and age at home, it's much healthier and family is happier but it can be very expensive granny pods can cost anywhere from 100,000 to $250,000 so it's -- you've got to weigh long he havety with it. >> carolyn also says they may not be right for a parent with dementia who needs more intensive care these structures may raise your

property taxes and then there are the neighbors. in baldwin's case -- >> i have plenty of storage. >> her structure is under 500 square feet so zoning laws did not require neighbor approval. >> i looked forward to living smaller. i just think all of us but myself in particular, have too much stuff in our lives. >> "on the money", jane wells, oakland california. >> before you put a granny pod in your backyard, check your zoning laws, some are banning them or have square foot requirements that limit the size of the structure they are not just for kids anymonth, deep discounts that go way beyond the traditional back to school bargains if your pet is peeved when you go on vacation, we have a solution to that problem happy anniversary dinnedarlin'

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the xfinity stream app. all your tv at home. the most on demand your entire dvr. top networks. and live sports on the go. included with xfinity tv. xfinity, the future of awesome. back to school means back to school bargains but you don't need kids to cash in on the sales. it's time to think outside the backpack, adam, thanks for being here. >> of course, thanks for having me. >> i just went out this past week and grabbing school supplies all over the place but not just there with the sales, why are they putting sales on other things that aren't related to back to school? >> i think the basic idea is that everyone needs laptop and back packs not just students, there are a couple of reasons why now is a good time for

deals. one, this is a time of year when states do tax holidays, you can save a few dollars that way. if you're not sure where your state has a tax holiday. google it. stores that cater to students also cater to families, they'll often have statewide or storewide deals. it's good to take a look -- >> remember think back to school even if you're out of school. >> exactly. >> what are things you should be considering if you're thinking about buying >> well, think about things like mini fridges and microwaves and -- >> dorm room stuff. >> think like a college freshman another area is cleaning supplies, a lot of teachers have to buy their own cleaning supplies. >> we had that on the list this year. >> so we found our editors found things like vacuum at walmart that's 20% off. >> i didn't have that on my list >> what should i hold off on buying and think maybe this isn't the best price >> as the editor of "money", i have to tell you not to buy anything you don't need because it's on sale disclaimer there

if you want something like a really cheap tv you're often better waiting for black friday in november. otherwise, do your comparison shopping and find a good deal. >> in terms of comparison shopping, what are resources if i'm looking for where the best sale prices are. >> we point to a few websites like deal news, and check out retailers you like best buy, amazon, bed, bath and beyond. >> again if you're thinking like a college freshman. >> exactly. >> it's great to see you. >> of course, thank you. >> up next, a look at the news for the week ahead don't leave fluffy or fido behind when you travel, the new way to pamper your pet

here are the stories coming up that may impact your money this week. on monday don't forget about the total solar eclipse we've been talking about and the philly fed is out with the nonmanufacturing index that measures regional activity in the services sector. on wednesday we get new home sales for july on thursday it's the purchasing manager's index that gives us a little look into the health of the nation's manufacturing sector and existing home sales for july then on friday, make sure you get out and celebrate, 101 years of the national park service we treat our pets like family but sometimes we have to leave those family members behind on vacation there's a new alternative part

of the growing pet care industry >> for many people, summer means it's time to kickback and relax on vacation. and for some re-pam perred pets it could be an opportunity to do the same in the dog days of summer at pet hotels dogs are given the royal treatment and my own oliver had to put the experience to the test. they can be chauffeured to and from the hotel, full beds and flat screen tvs and chefs prepare special meals for the pups and little gym called pant to work off extra treats. >> our high end services are booked almost every weekend because there's always that client who wants to make sure their dog gets the very best they could ask for. >> summertime is crazy busy for us. >> at morris animal inn, cats are vacationing in style luxury accommodations including condos and kitty suites.

fee lean guests have have personally cuddle time and nature walks and game time on the ipad. >> people now are treating their cats more like children. they are seeking out more interactive customized experiences for their pets opposed to leaving them at home. >> in the past five years, morris animal inn has demand has increased for 40% and 25% in the spring and 10% in the summer months now becky, some of this may seem a little extreme but this segment of the economy continues to grow. americans spends $66 billion in total on pet care last year including about $6 billion on grooming and boarding for pamperred pets like butters here next year we're poised to hit $70 billion, it's impressive and continues to grow. >> kate, what did your dog think about it and could you get him to go home with you after all of this >> reporter: ollie thought this

was very swank he usually stays at my parents house, does not get private chefs and chauffeured to and from the place, he rides in my truck. he did not like the working out on the treadmill that was a little extreme for him. he had a good time but i'm not sure if we'll be back. >> i understand ollie's concerns, never fun on the treadmill. thank you so much. >> he had fun though. >> great >> folks, that is the show for today. i'm becky quick, thanks so much for joining us next week the ways we watch television keep changing, we're going to sort out all of the optio options. have a great one, we'll see you next weekend one laugh, and hello sensitive bladder. ring a bell? then you have to try always discreet. i didn't think protection this thin could work. but the super absorbent core turns liquid to gel. for incredible protection... snap!

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we are live at the nasdaq market site on this expiration friday we'll take a break from politics and talk about, get this, the markets. the guys are getting ready behind me while they are doing that, here's what's coming up on the show >> go with the perfect storm. >> let's not get too dramatic but if you're worried about stocks, we'll tell you where to hide out plus, deere shares are getting crushed and could spell trouble for another industrial giant we'll