palestine. palestiniawelcome to "on the mo" time becky quick rising risks severe weather is more and more common these days, but are real estate developers paying attention? don't look now, but america is facing a pilot shortage why? what can be done about it? and what stit could mean for yor summer travel plans. and speaking of travel, some common mistakes people make in planning a trip and how to avoid those mistakes and if your puppy is adorable or your kitty is cutie, you might be able to turn them into cash cows you're not going to be able to believe how. "on the money" starts right now.

>> announcer: this is "on the money," your money, your life, your future. now, becky quick we begin with severe weather. this week marks the start of hurricane season and if last year was a guide, the storms are getting more dangerous and more destructive today we take a look at the rising risk to real estate, specifically, development that could sit directly in harm's way. our diana olick went to postbosn to see what's being done to safeguard billiouildings and bin of investment dollars. she joins us with more >> from floods to fires to the wildest hurricane season in memory, last year, 16 separate weather events in the u.s. caused more than $300 billion in economic damage, much of it to residential and commercial real estate but even with the frequency and intensity of recent superstorms, building along the waterfront continues, putting property and investment capital at risk and that's our cover story today. winter slammed hard into boston this year back-to-back nor'easters sent

water flooding into its historic streets and seaport. it was what city plarnners predicted, just not yet. >> we've spent a lot of time thinking that these impacts are 20, 30 years down the road these storms are here now. >> reporter: deanna moran studies the impact of climate change on boston real estate, especially its new development >> and the planning has been great, but we just aren't there yet. >> reporter: the planning started at the top, in the mayor's office, and its climate-ready boston initiative. >> if you want to build a large building in the city of boston, not only do you have to take into account what the climate projections are and the floodplains are right now, but you have to look at what those projections are in the future. >> reporter: in the past decade, nearly $8 billion worth of residential and commercial real estate has been built or approved for construction in the seaport, its inventory of properties doubling, according to cbre. in fact, just the seaport has seen three times the amount of new buildings going up than in all the rest of boston's much larger downtown and financial

district and the seaport is ground zero for water. this is what the city predicts will happen in ten years, twenty years, thirty years. the booming district, underwater why are we not changing the code >> the process for changing the code is long and tedious >> reporter: and changing the code could drive away the precious influx of big business to boston. names like amazon and ge, investing millions in boston real estate development and attracting thousands of new workers, especially to the seaport. >> so this is 121 seaport, a building that on behalf of skanska, i'm incredibly proud of >> reporter: it's the latest part of seaport square >> i'm looking at water, water, water everywhere no concerns? >> no concerns at all. this building is very well prepared to withstand any storm event. >> reporter: the building's electrical infrastructure is

40-feet above the 100-year floodplain the ground floor is evaluated. while some are proactive, others are less so, because they know the end game is to sell the building >> there are guidelines, but everything is ultimately voluntary. >> they want to be by the water, but by in a building that's very well prepared to withstand storm events in the future >> it's all about the high value of waterfront real estate. developers are laser focused on it despite intense weather because the returns are so high. and the irony, the tax returns to cities from this development is what's funding a lot of the research and redevelopment to guard against these storms >> got to find the money somewhere, i guess >> exactly >> diana, thank you very much. whether it's floods, tornadoes, or hurricanes, thanks to artificial skblenlintelligend big data, severe weather forecasting keeps improving. paul walsh is at the forefront of helping companies prepare for upcoming weather events. he's the director of weather strategy at ibm global services. paul, thanks for being here. >> thanks, becky

>> first, if we're talking about more destructive storms, is this because companies and people are building on floodplains. is it because we're building more expensive properties than we ever did before or is it because the storms and storm surges are that much worse than they used to be >> i think it's a combination of both obviously, the sea levels are rising when you have higher sea levels and storms on top of that, the destruction of the storms is increasing and when you have properties right along the coast, there's more properties at risk, so the problem just compounds itself. >> what we just saw about boston, is that a situation that's unique, or are there other cities facing the same situation? >> absolutely other cities miami, new orleans, norfolk, where the navy is looking very hard at having to move infrastructure >> after all the devastating storms we saw last year, does that tell us anything about this year, or is every year a brand-new cycle? >> every year is a brand-new cycle. this year, the prediction is from a numbers perspective, it

will be a quieter year than it was last year, in fact, a little bit lower than normal in terms of the overall number of storms. we can actually accurately predict that, but the thing that we can't predict is where those storms will go we expect 12 storms this year. if those 12 storms stay at or over the water, there'll be absolutely no impact, but there's nothing that says we won't see half of those along the gulf into the u.s. >> using artificial intelligence, what are you able to forecast. how can you use it to look ahead? >> what we use the ai for is to see how people will react to the storms obviously, there's a lot of new technologies in terms of weather forecasting. so we can forecast the hurricanes and just forecasting in general, much better than we could four or five years ago >> i think of it from the base level. if you know that a big snowstorm is coming, you would assume you have consumers who are running out to buy shovels, to buy salt to throw on the ground, to buy maybe a snowplow or even a generator, something alone those lines. how do you get a little more

sophisticated? >> those are the obvious things, but there are many things that are less obvious for example, there's a famous story that walmart talked about years ago about strawberry pop-ta pop-tarts. >> what? >> they would run out of strawberry pop-tarts every time there was a hurricane forecast, and it was because strawberry pop-tarts have a half-life, so you don't have to have power to keep them. so things like strawberry pop-tarts, prepared chicken is another one, batteries, things of that nature but there are a lot of things that people buy that they wouldn't necessarily buy and buy in bulk before this kind of storms and it's an example of how businesses are using the data and analytics and sort of overlaying ai to be able to understand not just the impact of the weather, but impact of other things that are going on the first hurricane of the season will have a different impact of the last hurricane of the season >> because of behavior implications >> exactly this year we just had tropical storm alberto, which is a little bit early, but because it came on the back of what happened last year and because it

happened over memorial day weekend, the impact of that was amplified. >> that information would be incredibly useful for retailers, because they want to know what consumers are going to do. what other industries are using information like that? >> insurance, agriculture, the obviously sort of highly impacted businesses, aviation obviously using weather data but in the aviation world, they're using data for example, to predict turbulence and to be able to understand 15 minutes before they hit turbulence that they're going to hit turbulence so they can tell us all to put our seat belts on. >> that's useful information >> i love to hear that when i'm flying >> safety first. paul, thank you so much. >> thank you, becky. >> talk to you soon. up next, we're "on the money. looking for a job? we'll tell you where there's soaring demand and later, how to plan a summer getaway and not get ripped off red flags to help you avoid travel fraud but right now, let's take a look at 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." a strong jobs report for the month of may the unemployment rate fell to 3.8% that is an 18-year low the economy created if 223,000 jobs for the month, as well. that was well above expectations hiring was strong when it comes to retail, health care, and construction numbers for previous months were revised upwards, as well and average hourly wages also increased. all of that news sent stocks higher in early trading on friday, after a volatile week for the dow, on concerns about europe and fears of a trade war. the zanasdaq and s&p 500 followg step stocks closed higher on friday america's economy grew at a sla slightly slower rate in the first quarter than first thought. the gdp, which is the broadest measure of the size and the scope of the economy, increased

by 2.2%. that is down from the initial read of 2.3% and a little bit below expectations, too. and believe it or not, u.s. airline satisfaction is on the rise a new survey by j.d. power show that overall consumer satisfaction is at an all-time high southwest was best among the loes-co low-cost airlines and best overall. some of those airlines may be a little busier than usually when it comes to filling jobs. pilots are becoming harder and harder to find in fact, a looming shortage of people qualified to sit in the cockpit is creating a huge opportunity for some phil lebeau has more from phoenix. >> reporter: 23-year-old amanda larson is sitting in the proverbial catbird seat that happens to be in a cockpit she's been flying for more than four years and is currently being recruited by three regional airlines. >> they know it's competitive, that they need to offer the best in order to get the pilots, because we'll just go somewhere

else with a little bit better pay and flying the same thing. >> reporter: amanda is in demand because of a looming pilot shortage, partially because so many will soon hit the mandatory retirement age of 65, while their airlines continue adding flights. so airlines around the world will need an estimated 637,000 new pilots over the next 20 years. the demand for pilots is not only a problem in the u.s., it is worldwide and it's easy to see why the number of people around the world who are flying commercially has soared to more than 3 billion annually. so universities that train pilots increasingly find themselves educating students from overseas, most notably, china. >> the major airlines will contract with companies like ourselves, send their cadets to the united states to train from anywhere from 12 to 15 months, and once that requirement is fulfilled, they will return to china and begin flying within one year

>> reporter: in recent months, some foreign airlines, like emirates, have cut flights due to a shortage of pilots. while that hasn't been a problem for the big u.s. carriers, regional operator great lakes recently suspended operations, blaming a shortage of pilots a situation analysts fear we will see again >> what we're going to see is air service that might have been viable ten years ago won't be viable in the future >> for now, pilot recruits like amanda larson are landing the jobs they want with the perks to match. and to give you some perspective on how much it costs to become a pilot, if you go tlhrough a flight training school, deget a degree and finally recruited by an airline, you can spend up to $70,000 or $80,000, but increasingly, airlines are saying, let's see how we can take care of that debt >> you mentioned that pilots have that mandatory retirement at age 65. i understand that. you don't want a pilot flying beyond when they can physically do it, but really when i think

about it, i think i would rather have a 66-year-old pilot doing flo flying me rather than a 25-year-old, because this is an area where you think that experience really pays off >> and that's increasingly a question that regulators will have to address within the next five years the question is, where do you cut it off 70 68 years old and that's what they're going to have to address, especially because we have a wave of pilots who are approaching 65 over the next five years. >> phil, thank you very much always good to see you up next, we are "on the money. are you sure that you're ready for that big trip? some common mistakes to make sure you avoid before your vacation begins. and later, it's not just the kardashians making money from social media the big business of pet influencers and what it takes to become a social media star when you're an animal

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summer vacation time is approaching. if you are hoping to book a great getaway at a discount price on short notice, that combination could make you the perfect target for travel fraud. senior personal finance correspondent sharon epperson is here with tips on how to protect yourself and your valuable vacation time. sharon, it's great to see you. >> good to be here >> how big of an issue is it, travel fraud >> it's a very big issue, and particularly now as many people are looking for that great deal. you need to be aware that over the last year, in 2017, travel fraud rose by 16%. and we're talking about a significant loss to consumers. the average fraudulent transaction cost consumers from

nearly $300 to almost $600 per transaction. >> what are we talking about >> that's significant. we're talking about hotels and airlines -- >> i think i'm booking a ticket and i'm just getting scammed -- >> largely doing it online, and you think you're getting something, and then that person who is fraudulently taking your money, either your credit card information or some such, is then re-selling that ticket or re-booking it or trying to use it for themselves. >> what are some of the things we should be on the look out for. red flags that tell you, hey, this is too good to be true. >> when you're looking at some of these discount offers, you need to read the fine print and find out, also, what's this third party company that's offering the discount, what it's really about is it a legitimate company check with the better business bureau if they're saying it's free, that's probably the biggest red flag out there there's nothing free out there and if they're pressuring you, do it now, do it in and onow, be once you figure out it's not a legitimate transaction you've just made, it may be months down

the road, and the federal trade commission says you have to dispute something on your credit card bill within 60 days so you can't even fight it >> so by the time you figure out you've been taken, it's too late to do something about. >> if it's 62 days beforehand, maybe that's a tip-off, too. >> exactly >> so i'm planning my big trip, there may be other things that aren't flat-out fraud, but things that could end up costing me money what are some situations like that >> one of the things i was just checking was passports and realizing that my kids passports have expired so i'm not traveling abroad this summer >> you can do it day of. >> you can get it expedited, but it's going to cost you and if you're traveling abroad, you want to text and use your phone, there are special international plans you may want to look into otherwise, if you pay the normal rates, it could be significant and probably the biggest one that people may not consider is checking to make sure your health insurance covers you wherever you're going to travel. if you get into a medical

emergency and you're not covered, that could wipe out the entire cost of your trip and then some. >> so plan ahead >> plan ahead. >> sharon, thank you great to see you >> sure. up next "on the money," a look at the news for the week ahead. and insta-famous, from free goodies to endorsement deals, how these puppies turned their social media following into a profit

here are the stories coming

up that may impact your money this week. on monday, we'll be getting a read on the economy, with factory orders for the month of april. and the president is missing that's a new book co-authored by former president bill clinton and author james patterson that book will be published. on tuesday, we'll see how the services sector is doing with may's ism non-manufacturing ind index. and it marks 74 years since the d-day invasion in world war ii when allied forces stormed the beaches normandy, france and we'll see how retail share stores are doing when earnings are released sure, you think your dog is adorable, but what happens when hundreds of thousands of other pe people think so, too they say a picture is worth a thousand words, but if that picture can earn a thousand likes on social media, it can be worth some real money. we met some of the fury face social media stars to see what is behind this craze >> the message is, you know,

sharing love with people on the streets of new york city the content is very strong you know, just sharing love. >> people love seeing the outfits. she has a walk-in closet of her own. we've had some really great opportunities to partner with brands like the ritz carlton we actually went to puerto rico in aruba with them last year >> i started his facebook to kind of just show friends and family pictures of him, but it kind of just grew from there, it was very surprising. it's just really neat to get paid to do what i really love to do >> it's totally fun and weird, but as long as people want to like give out their money to a dog to sell stuff, like, we'll take it. >> those were just a few of the 150 clients represented by lonnie edwards, she is the founder and managing partner of the dog agency that's a talent management company for pet influencers. also with us is one of her clients, mervyn the chihuahua. >> hi, mervyn. hi, lonnie, thanks for being with us today. >> thanks for having us.

>> so what is a pet influencer and what does someone like mervyn do to get to that state >> a pet influencer is a pet on social media that has developed a large following. >> and people actually -- companies will pay money for you to put their products on the pets >> exactly influencer marketing has become a big thing, now pet flauinfluer marketing is the biggest things. pets tend to perform better on social media, everyone loves them, they make people happy, so people like the brands as well, because the content is making them happy and they are just universally loved. >> mervyn's got a special story. he's a cancer survivor, right? >> yeah, mervyn is currently going through treatment. >> oh, come here, baby it's a sweet puppy you think about things like this, how many followers can do you have to get before you can get a brand's attention? >> so we look at potential clients with 50,000 plus followers. and we basically handle the business side. so we have relationships with friends, we help pair them up,

we know kind of the standard terms for the agreements, so we help facilitate that and most of the pet owners have full-time jobs, they're not checking their dog's e-mails regularly, they don't have a backyard in negotiating in law, so we come in to make that easier >> how much money can you make and who's paying the money for something like this? >> influencers on the larger scale with millions of followers are getting around $15,000 per sponsored post so you can make a lot of money we started mainly with pet brands, but now we work with brands in every vertical from hotel to movie studios >> you're a graduate of harvard law. do you think this would be what you're doing when you got out, or is this a brand-new arena >> absolutely not. i did not expect this. but it's the best job ever this industry didn't really exist until very recently. when i started the agency, it was most pet brands and we really worked to expand that out. so now all kinds of brands are working with these influencer. >> if somebody wants to get in and get on this story like this,

what would you tell them if they have a pet that's super cute >> to get that pet on social media, build that following, create engaging content, develop a brand around the pet and at the end of the day, the pet has to love getting dressed up and posing for photos and creating content it needs to be a good experience >> lonnie, thank you so much for coming in. appreciate it. good to see you, too, mervyn >> thanks for having us. >> thank you very much folks, that is the show for today. i'm becky quick. thank you so much for joining us next week, ever feel like you just need a hug? meet the woman who makes a living from doing just that. a professional cuddler each week, you can keep it right here we're "on the money" sp." have a great one and we will see you next weekend happy anniversary dinner, darlin'. can this much love be cleaned by a little bit of dawn ultra? oh yeah one bottle has the grease cleaning power of three bottles of this other liquid. a drop of dawn and grease is gone.

hey, there, we're live at the nasdaq market site on this friday afternoon the guys are getting ready behind me. while they're doing that, here's what's coming up on the show ♪ >> jack is back with shares of both twitter and square surging. and the charts are putting even more gains from one of them. plus, biotech is breaking out. and a key event next week could send the space higher. we'll tell you how to profit for less and --