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tv   On the Money  CNBC  January 13, 2018 5:30am-6:00am EST

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>> i love investing in american businesses what's the f stand for fun. >> there is a little bit stressful. >> unfortunately on paper we're out of business. >> do you believe in your company? >> yes >> proveit to me hi, everyone, e-mail bicky quick. taking the leap, how to know when it's time to search for a new job. with the new tax laws in place, what should you look for in a tax preparer? questions to ask and how to get help for free. and you may not know his name, but proubbly know his work, the man who created everybody loves raymond has a new netflix searry somebody please feed this guy. "on the money starts right now."
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we begin with fitness, if getting in shape and losing weight are among your new years resolutions, you're not alone. you may need help reaching the goals. we have some new ways to get fit. it's this week's cover story, exercise your options. >> reporter: it seems like there is a new fitness trend every other minute from high-tech fitness gaming to aerial yoga. but really the old is new again. aerobic activity, cross training, hiit and good old stair climbing all saw the biggest growth last year that according to the sports fitness industry association which surveys core fitness enthusiasts annually, those that say they work out at least 50 times a year this benefits big gym brands like crunch fitness, planet fitness, and anytime fitness one surprise though, boot camp style workouts fell out of favor a bit.
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this as barry's boot camp embarked on a big expansion last year orangetheory which could also be considered boot camp style is also expanding aggressively, as for the high priced boutique trend -- >> the boutique is growing what we see is the millennial customer just wants to see different kinds of options so they may join one or two different kinds. helpful to the boutique is the economy being stronger and the ability for people to pay. >> reporter: and one of the biggest names in the boutique chat gory is taking a big ris thk year moving beyond the home cycling model to a high-tech treadmill. it looks like a peleton screen only huge. a new screen, a new product, a big move for peleton, the self proclaimed media company which doubled the annual revenue to $400 million >> the belt is made of 59 individual slats >> it's a $4,000 high-tech live interactive treadmill. >> i'm feeling that it's cushy
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>> we also listen to our members and they said, you know, we asked them what they want and they said boot camp style circuit training workout where it's full body is a nice compliment to the peleton bike we don't want the peleton bike or treadmill to be the hero. it's more about the consumer as the hero >> it's all all part of a plan that includes new apparel, new accessories and more new products ahead for "on the money," i'm diana olick in new york. >> healthy eating is a big part of getting fit for help with that, americans spend $2.5 billion a year on diet plans we have the ceo of jenny craig joining us, that is the weight loss and nutrition company thank you for being here >> thank you for having me >> we heard about the exercise crazes, how people are spending more and more money on that. how they're spending more and more money on diet plans yet, 40% of americans are obese at this point. what is happening? where is the disconnect? >> i think people are generally aware that they need to get
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healthier and in order to get healthier, you need to lose weight i do seat numbee the numbers wit better over time because people are paying attention to them >> it's hard to stay on the plans. i understand that. when you have so many things around you all the time that look so tempting, it's hard to do these things. who is coming to jenny craig who is your customer wlaen do they want? >> our customer is typically a 35 to 50-year-old female client. we have made great end roads in the last year to include men as well and a lot of men have also started joining. but they're coming to jenny craig because they have traditionally not had success with the programs that they've been on. not their fault. they have a lot going on in their lives. typically people have 30 pounds or so to lose. and they come to us because they need our help in getting there and that's what we do differently from anybody else because what we do is to make commitment to you that we'll get you to your weight loss goal we take it very seriously.
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>> what's different? if i go to weight watchers or nutrasystem, they have plans they can go with you have frozen package food and you offer counseling >> the biggest difference is the one-on-one support we give you that is the key differentiator where we pair with you your own consultant their job is to get to know you, get a relationship with you and trust you so that we can begin to understand what is driving the behaviors. we're mostly about behavior modification yes, we have naturally frozen foods that we offer and that is a part of how we get you to your weight loss goal but most importantly, we want you to have a healthy relationship with the food and that can only happen if you can change your behaviors. >> is that in person or done increasingly online and over -- >> it is done in person. you have greater success when you're in person but it's also available for those that cannot do it, you can do it on line and also over the phone. >> how much does the program cost and how long do most people stay on the program >> so most people would stay on our program for about six months if you have 30 pounds to lose.
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the amount of time you need to change your behaviors is going to take about that much. so people are staying with us for six months and getting the weight off and then keeping -- learning all the techniques to keep it off. >> what are the percentages of people that do keep that weight off? >> most everybody that comes into jenny craig, we are, again, very focused on making sure you reach your weight loss goals and then sometimes life happens and you go off track and you come back because you trust the brand. so we think our mission of being very serious about taking weight loss and being upset about the fact that people spend so much time and resources on other programs and not being successful and not seeing success, we take it very seriously. >> is this the busiest time of the year for you >> new year's resolution is busy you have folks that have lesser pounds to lose and weight loss we see a very consistent flow in folks throughout the course of the year the summer time is the only exception. so all months like february, march, april, are all good
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months, september and october good months because the decision to lose weight loss, the decision to lose weight when you're overweight comes at different points in your life. there is a trigger in your mind about i got to do something about it now and that doesn't always happen in january >> monlty, thank you so much for your time. >> thank you for having me >> great to see you. now here's a look at what's making news as we head into a new week "on the money." the same old song for the stock market the three major averages all setting new records this week. the dow up more than 200 points on thursday. and the nasdaq and s&p 500 all hitting and closing at fresh highs. in part because of corporate tax cuts and expectations of a strong earnings season america's largest employer is spending money they're saving on the tax cuts. walmart is raising the minimum wage to $11 and handing out $1,000 bonuses to many employees. they join the ranks of major
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companies to do just that walmart employs 1.5 million americans. new american cars and trucks go further on a gallon of gas than ever before a government report says those vehicles averaged a record 24.7 miles per gallon for the 2016 model year new cars are projected to average 25.2 miles a gallon for 2017 fwhaut but that is still below federal goals. up next, is it time to chase that dream job steps you need to take before you make the leap. and later, filing your taxes is never fun or easy. given all the changes that are coming this year could be even harder we'll have tips on finding the right person for the job right now though, take a look at how the stock market ended the week
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what if you have a good job but you flow there is something else you should be doing whether is quitting your job and going for it the right choice? that's what author mike lewis explores in his new book "when to jump. thanks for being here today. >> thank you so much for having me >> let's talk about this your story is an amazing one you had a great job in finance at bank capital. there is something you felt you should be doing. you quit your job to become a professional athlete what happened and what did that experience teach you >> it started ten years earlier. we moved to santa barbara, california, as a family. and it was one club within 100 miles that had the only courts and i fell in love with it and the squash tour is not very well known but you can circle the globe playing it you can play everywhere in the world playing squash so i throughout at some point i'm going to do this the trouble is, you know, there is no knock on the door. no one is going to come in and say now you can chase your dream. so ten years later i realized two thinged, i was working in
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finance at bing capital and i knew one that voice in my head was never going to go away and number two, no one was going to tell me whether to do it. i looked online, whether i couldn't find, you know, for my google search wlf to go chase your dreams, the right solution, i started to reach out to other people who had left something comfortable to go do what they cared about. >> i was going to say, this sounds like it's a one in a million shot like winning a lottery whether you do something like this and successful at it how did you find the people? what did you learn out of that >> the first story is a woman who left wall street to become a cyclist. she made the olympic team. whether she picked up the cold call, you know, i want to tell you what the nitty-gritty looks like from there, it's like the floodgates were open woman flechlt to me on the bus, a bartender on the street, the receptionist at work, i think everyone has a story and a jump may look different for me than it is to you and i think giving people permission to say this is going to be scary. but it's really worth doing. that's what it's all about is sharing that vulnerability. >> what do all the people have
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in kplcommon sounds like their hard-working and motivated and organized. >> the book has 44 stories from single parents to millennials to babyboomers. one tleem is that there was a lot of planning. you don't just wake up one day and start a company. wake up one day and move to bali tgz a lot of hard work whether i call the 10,000 unsexy steps. that is what everyone has in kpl common >> are there some people who should not do this i'm a risk averse person i would be afraid to do it if you have kids, if you have responsibilities are there times that it's a little riskier >> you may not be ready to jump today. but you can start planning i don't believe if you have kids and a mortgage or student debts pay back today is the day to jump that doesn't mean you can't jump in a year or two years we go through that book. whether the time comes, you're ready to go. >> you have one of your phases is phase four, don't look back but have you ever played thatmental game, what if what if i didn't >> the phase before that is to let yourself be lucky. so whether you jump, be open to
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opportunities and the reason i say don't look back is because we only go through life once you know this is the time to take chance when you feel like you prepared and when you do, you can't look around or behind or in front of you and say what could have been you only get one shot at there >> yeah, it's good life advice no matter what you end up doing. thank you, mike. i love the book and the stories. thank you. >> thank you >> great to see you. up next, we're on the money. if you want free help filing your taxes, guess what it's not a scam. it's a government program. who qualifies and where to go for help that's next. and later, the creator of "everybody loves raymond" delivers a new show on netflix based on his love of food, travel, and comedy, you might want to netflix and phil we'll talk about that. i love you, basement guest bathroom.
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. with all the changes coming, now may abe good time to hire a professional to help with you your taxes but not all preparers are the same of course, you need to watch out for scammers our senior personal finance correspondent sharon epperson joins us with lou to pihow to p right person before you actually hire a tax preparer, what questions should you ask? >> the first thing is before you panic about i need to have a tax preparer to help me with the tax law changes, most of those tax law changes do not go into effect until the 2018 tax year so actually, you're just getting prepared to make sure you have the right preparer for when all
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the changes come about >> there are potentially things you -- well, maybe should have done last year maybe things you should be eyeing >> exactly the first question you need to ask, do you have a ptin? >> what is that? >> it stands for preparer tax identification number. and the irs says that anyone that you pay to do your taxes needs to have this number. and that kind of certifies that they're -- they know what they're doing. another thing you should look for are the credentials associated with their names. and that might be an ea, what is that enrolled agent or a cpa, certified public accountant or an esquire, an attorney the other important question, are you going to be here year round? may the tax law changes may not affect the 2017 return, you're going to have a lot of questions throughout the year about getting right for 2018 tax returns. you may have questions along the way. and so you want to make sure this is someone that's going to be around to be there for you
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for your tax situation >> to it's not just a seasonal worker that works three months and out the door >> exactly >> tax season can bring out scammers any time there's a lot of money floating around. what are the red flags people should watch for >> one is that the tax preparer says i'm going to get you a bigger refund than anyone else that's you need to use me. that's why you need to come to my firm. that's a red flag. the other one is -- >> every major firms puts that in the advertising >> check them out and make sure. ties the fees to a percentage of the refund you're going to pay me a percentage of what you get back. that's not the way they should be paid. and don't fall for the you can put some of the refund into my account to pay me that way no >> is there somewhere that people with go for free lep with a help with all the changes? >> the irs.gov website is a place to go. go straight to the source. on that source you can find free tax filing software. if you make $66,000 or less, you are able to do that free file
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program tlachlt program. can you go through the volunteer income tax assistance program. they also have tax preparation for the elderly. specifically looking at retirement issues, pension issues and there you should go to aarp.org and find those locations. >> thank you very much great to see you >> my pleasure up next, a look at the news for the week ahead and dishing up comedy. the "everybody loves raymond" creator eats his way ais kro the world. he'll share his favorite meals and moments from filming his new show
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here are the stories coming up that may impact your money this week. on monday, we're celebrating the life of civil rights leader dr. martin luther king jr. it is a federal holiday and markets will be closed on wednesday, the industrial production number comes out for december also, the beige book which is a regional report of the economic conditions across the country, that will be released as well. on thursday, we'll be seeing how many new homes were started in the month of december and just in case you needed an excuse to get to the movies this friday is national popcorn day you may not know his name but you do know his work phil rosenthal is the creator of "everybody loves raymond" and he is a big foodie and sharing his love of travel and cuisine on his new netflix show called "somebody feed phil. here is phil in bangkok with a street vendor who earned a
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michelin star. >> that's a huge amount of crab. i think it has two or three crab >> i have never been so interested in the cooking of anything in my life. >> they submerge it -- fantastic. look at that >> she's like a pilot. >> okay. that looks delicious phil, thank you for being here talk about this clip by the way. where did you find this place? >> i'd love to talk you to but now i'm hungry again that's one of best things you'll eat. that's a crab omelette pound, pound and a half of crab. it would be $80 here >> could you eat the entire plate? >> you saw the guy with me, i had to share with him. yeah >> unfortunate how did you find her she got a michelin star later. >> she is famous there yeah, even before me, even before the michelin star, she was already kind of famous for having the best street food thing in bangkok after we were there, we heard she got a michelin star. michelin star, you know, that's like --
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>> how does that happen? >> that is the world authority on -- it's like god said you, you make good things and so a michelin star, just yesterday i think she said i'm giving back my star. please take my star back >> why >> too many people now she's 73 years old she works like 11 hour days. and the line now is two hours long she wants, please, don't -- it's too much and now i'm afraid that we featured her on the show it's going to be worse for her. we now -- thank you, i ruined her life >> i'm thinking of another comedy show. seinfeld and soup nazi >> she's very sweet show she is no soup nazi. and her soup, by the way, amazing. that's in the show too >> if you go around eating like this, how is it that you don't weigh 500 pounds special effects. >> no, i have to work out every day. you know, it doesn't -- i pick my spots you know, italy is a spot. >> right >> so i'm going to go crazy.
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bangkok, a spot. but even then you see me eating. you know the dog food commercials. you know they starve the dog before the commercials so the dog is excited. i'm the dog. >> let me ask you this, if this is your passion, i always heard people say the guy that works in the candy shop gets sick of candy and the guy that works in the ice cream store gets sick of ice cream. do you get sick of food? >>, no i'm going to all the stores so it doesn't get boring. >> how do you pick your places bangkok is one of them mexico city, new orleans, and a bunch of places. >> the whole point of show is to get you to travel. >> bangkok doesn't seem like one of the most accessible places in the world. >> it. >> everyone speaks english it's a big modern city all the conveniences you're going to have a hotel, bed, it will be a beautiful place even if you want it to be. the food is unbelievable watch. watch the episode. you'll see you'll want to go. have you gone to all the plagss before and this is your top hit list or are you along for the ride? >> half of them i've been to before half of them i wanted to always
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see. and so you're discovering with me. >> what are we going to get in new orleans? of wh tell me? >> do you know what the number one restaurant in the in new orleans is it's an israeli restaurant >> no. where? >> it is called shia >> i don't know it >> it's fantastic. but there is turkey in the wolf which is modern take on all kinds of stuff including a reuben sandwich made with collard greens instead of meat how good is that very, very good actually yes. >> let's talk about netflix. it is changing the industry. you've been working in this industry for a long time now you got somebody willing to commit billions and billions of dollars to new content. >> to me >> to you. and to new content along with what apple and amazon is looking at what does that mean has a content creator? >> wow, it's a nice place to work, i'll tell you that there is a lot of creative freedom. there anybody that does a show for them will tell you that.
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all the shows are on at the same time so it's like -- >> you get the whole season. >> you know, it's like you don't worry about competition becaus it's like you're going into a store and everything is there on the shelf for you. you already bought an all you can eat buffet >> that's perfect. phil, i can't wait to see the latest food show i just want to thank you very much for being here. >> thank you >> it's great to he soo you. >> love seeing you >> that does it for us today that is our show i'm becky quick. thank you so much for joining us next week from cookie sales to stem skills to new badges, today's girl scouts are earning and learning keep it here every week. we are "on the money." have a great weekend and we'll see you next time.
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the guys are getting ready behind me to clear it all up for you. here's what's coming up on the show talk about a face slap shares of facebook are experiencing a rare down day but something in the charts suggest now is the time to buy and -- one tech stock had a massive run in 2018. and the options market is pointing to a big breakout when it reports earnings next week. we'll give you the name. plus -- it's the second worst performing sector this

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