tv On the Money CNBC January 12, 2019 5:30am-6:00am EST
5:30 am
welcome to "on the money." i'm becky quick what skills you'll need to keep your job in these changing times and why millennials don't want to go to the company at all four sisters who run an iconic brewery why your credit score this year may be better than you. there's one little thing you have to do how to keep your coffee hot no matter when you made it high texting your mug. "on the money" starts right now. we begin with jobs
5:31 am
there are 6.9 million available according to the department of labor, and that's almost a million more openings than there are available workers. many employers say that it's tough to find qualified applicants to hire our kate rogers has this week's cover story, "workers wanted." >> reporter: at t. marzetti, workers like joshua ash are crucial. he works at quality assurance that makes marzetti, sister schubert's, and supplies sauces to companies like chick-fil-a and buffalo wild wings he's moved up the chain in the past 11 years, now working as a supervisor with a team of 17 >> we get about 500 ingredients in this plant. you'll make about 300 different products every day i'm going to see something different. >> reporter: companies are looking to beef up supply chain teams nationwide, challenging in an increasingly tight labor market these are careers with competitive wages that can reach into the six figures depending on the role and experience that workers have, but sometimes
5:32 am
that's not enough. a 2017 study says a worker shortage may turn into a full-fledged crisis in the near future with as many as six open positions for each available work >> you can no longer post and pray and expect to get plenty of qualified applicants coming through. you have to go out and poach and hot towel it that's what we do as an executive search timmer. >> reporter: at t. marzetti, the company is looking to hire an additional 300 works across the country in roles that range from engineering to quality assurance and even customer service. >> some of our bigger labor challenges are filling the more skilled, maintenance-type positions. you have to be -- styou have to pay the market to get the good talent to keep them, you have to make sure you have ongoing training >> reporter: the company is also retraining some of its workers as it moves to automate repetitive parts of the supply chain. >> if you take care of your people, you involve them in your operation, let them be part of the problem-solving.
5:33 am
and you know, they want to be here you know, they want to be here >> reporter: by the way, horse cave, kentucky, is about 80 miles south of louisville. the worker shortage is so bad in some companies in the supply chain industry that there are often nine open jobs for every one candidate. >> wow so kate, what happens? are salaries actually starting to increase,or are companies trying to do things that are more creative like we heard? >> yeah, we're seeing both obviously you have to pay a competitive wage if you want to hire anyone in this kind of a labor market we're seeing more worker flexibility, great benefits. what they mentioned was training they're trying to reskill, upskill, and make sure that the workers that they have on hand feel valued and a big part of the company. training has become important. i think that will continue into 2019 >> great kate rogers. with so many jobs available, what skills are employers actually looking for dan roth is linkedin's editor-in-chief. good to see you. >> thanks for having me. >> what do you think about this, what's behind the worker shortage, and why are employers
5:34 am
having such a tough time finding qualified people >> there are a number of economies that make up the overall job market so i think you can have places like the factory where they can't fill certain jobs. there's problems of there's opioid issues in some of these places >> you can't find somebody who can pass a drug test >> yeah, some employers are saying, look, we want -- we don't even ask anymore what drugs you're on, we're saying just come and work for us for as long as you can. there are other places, other problems where companies just aren't paying enough, and they can't -- they don't want to raise rates, so they are trying to get workers in through offering perks and benefits. they're looking at trying to hire in markets where they haven't been before. but companies have to fill these jobs they don't want to raise their prices, and they need people who have the modern skills available. >> when you run into a game of chicken like this where employers are saying we don't want to pay more and employees are saying we don't want to work for that amount, who usually wins >> the employer wins i think what you heard in the last piece is very true.
5:35 am
we're hearing this from a lot of employers, which is the push to automation -- automation is coming, a.i. is coming it's eating its way into the work force it's going to change the way that every company operates and the way we all work. for companies struggling to find workers now, a.i. and automation, making those changes happen faster, is really important. you can't fill these jobs, so why not automate the jobs away i'm not sure it's depressing, big change is coming we have to get used to it. it's important to have -- important to have skills when you talk to employers about the skills they're looking for, there are soft skills -- communication, problem-solving one big skill is adapt ability i think that is the key one, making sure -- >> what do you mean? >> being able to handle change when it comes to the work force. when are you working somewhere and naysay we're going to automate your job and we need you to work this other job, there's adaptability you need to learn a.i., cloud computing. these are the ones that employers want to have those hard skills are going to
5:36 am
change all the time. staying current is important you always have to have soft skills, too. the soft skills are what enable you to change industries, change jobs, change positions >> millennials are the largest part of the work force right now. they value, a lot of them, working remotely are companies sort of adapting to that, trying to get people to say come on in, and we'll let you work your way? >> absolutely. there is -- we do the list called "the top startups." a number of them have no corporate entity there's halo top, one of the top companies. an ice cream maker there's no corporate facility. everyone works remotely. envision another company where everyone works remotely. you use slack, teams, to talk. once a year you have an offsite where people meet for a first time millennials especially really love having that kind of flexibility. and the technology available makes it easy for an employer to make it happen >> at least you don't have a long commute, too. >> exactly the commute is from your bed to your couch >> i could get down with that.
5:37 am
what types of jobs are in the highest demand now >> a lot of jobs that involve understanding technology that every company needs. so data scientists, number one most in-demand job this used to be a goal - >> is that a fad >> i don't think so. it's about understanding statistics and being able to take -- companies have more data now than they've had before. >> they're mining our data, stealing it whether we want it or not they've got to figure out -- >> what to do with it. they arehave stockpiles of data. making sense of data is tricky you want to hire data scientists who can help you find intelligence in the data then there's jobs like cloud computing software, engineering. these are, again, key jobs for no matter product marketing, product design, these are all jobs that every company now is sort of a tech company you have to have those skills. there's huge demand for those positions. >> dan, thank you. great to see you >> thanks a lot. >> dan roth from linkedin fl
5:38 am
5:40 am
yuengling took a chance when it took over the struggling family basebalusiness in 1985. he borrowed millions and built two more plants. today alone yuengling will knock out 2,000 barrels of beer. that's roughly 25, 00 cases of cans like this, about 50 years ago they were selling that much in a month and he pushed a radical word-of-mouth marketing campaign on the penn state college campus that helped give yuengling a cult status. now fans flock to the brewery
5:41 am
every day for tours. that was a report i did in 2005 visiting the brewery in pottstown, pennsylvania. it's still going strong and is still family run it was started in 1829 the brewery today is managed by the family's sixth generation, made up of four sisters. two of those sisters are with us jen and wendy yuengling. thank you very much for being here today >> good morning. >> thanks for having us. >> i'm thrilled to see how yuengling is doing and how it's continuing to thrive and push things it is america's oldest independent brewery at 190 years old. it survived even prohibition which is kind of amazing i just wonder, did you guys always plan on going into the family business when you were growing up >> i don't think we necessarily did. but i think the fact that we are now embarking on our 190th year, this is so special for us, and it's so rewarding to be here the longer we're involved in the business, the more appreciation we have for our ancestors who survived things such as
5:42 am
prohibition. >> surviving prohibition, did they tell you how they made it through that is there a family book that says here's what to do in case of a complete crisis? >> we have a building across the street not only did we make near beer during prohibition, but our great grandfather had the insight to built a dairy across the street we had a creamery business which was successful in the family until about the mid '80s >> let me ask you two, if you didn't plan on getting into the family business growing up, did you know what it was, how big of a deal it was to have the yuengling brewery as your family business >> we grew up in the '70s and early '80s we went through some down years. we didn't start to see a jump in our production until the mid '90s which is when we were out of college, and the timing was right for us to start our careers in the business. >> when you went to college, what did people think? that may be the coolest thing. i would think as a little kid, it's great to have a candy shop that you own in college, a brewery -- >> i'm sure we could tell some stories. >> yeah. >> you guys are launching a new product just this past year. it's -- yuengling golden pillser
5:43 am
in it caught me offguard because i know the lagger well >> everyone knows yuengling for the lagger, light lagger, and black and tan. there is light and gold in color, refreshing to drink for us personally, it indicators to the types of drinks that we wanted to enjoy. >> the big breweries have had some issues because americans seem to be drinking less beer. at least less beer of the kind of big mass-produced stuff where do you fall in that? i don't think of you as a microbrewer, but you're definitely not a bud either. what has happened to your demand from your customers? >> yeah. we've typically characterized ourselves as a regional brewer in 22 states we're still not nationwide we're competing against the likes of national and international brands so you know, we team like we fill a nice spot there with a regional brand and that gives us the ability to focus on our local markets and still, you know, pennsylvania's important to us, tampa's important to us because we have a brewery down there we like that niche where we are. >> yeah. and the focus of our brands has
5:44 am
always been our core brands and portfolio of lagger, light lagger, black and tan. now golden pillser in. we're -- pilsner we're competitively priced, as well >> what have you seen in terms of americans' demand, what they want out of you? i know when it comes to the big breweries they have seen less demand for beer. what do you find >> i think their tastes are changing, and that was part of the reason why we wanted to develop a new beer like golden pilsner. they're interested in a variety of styles that we can say we've had since the beginning. we've been making porters and ales since 1829. we're embarking on celebrating our 190th anniversary and had a variety of brands all these year it's nice to say we have a beer that caters to every indication. >> jen, wendy, thank you very much for being here. for bringing the beerment we're going to try that, too actually, cheers thank you guys for bringing it >> thank you >> cheers. >> good to be with you both. >> cheers. >> tell your dad i said hi >> will o. >> i like it i like it, i do. nice and smooth. up next, folks, we're "on
5:45 am
the money. want to improve your credit score? there's a new way to do it, but there is a catch later, does your coffee always get cold before you want it to? guess what, now there's an app for that ♪ when you have nausea, ♪ heartburn, ♪ indigestion, ♪ upset stomach, ♪ diarrhea... girl, pepto ultra coating will treat your stomach right. ♪nausea, heartburn, ♪ indigestion, upset stomach, ♪ diarrhea... try pepto with ultra coating.
5:46 am
do i use a toothpaste that whitens my teeth, or one that's good for my teeth? now i don't have to choose. from crest 3d white, the whitening therapy collection with new spearmint and peppermint oil. it gently whitens, plus it has a fortifying formula to protect your enamel. crest. healthy, beautiful smiles for life.
5:47 am
what's a gig of data? well, it's a whole day's worth of love songs. [ baby crying ] or, 300 minutes of baby videos. a gig goes a long way. that's why xfinity mobile lets you... ...pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay even less for data. or, if you need a lot, we have unlimited too. plus get $100 back when you buy an lg or moto phone. it's simple. easy. awesome. click, call or visit a store today. ♪ having good credit is an
5:48 am
important part of financial health these days. you can't lease a car or get a mortgage without it. this year changes are being made in how some scores are calculated, making loans more available and cheaper for many, too. joining us now with the details is senior personal finance correspondent sharon epperson. and what are the new programs being rolled out >> there's several new programs being rolled out when you boost your score, are you likely to get a lower interest payment that you have to pay on the money you're borrowing. that can save you a lot. look into two programs one is being launched by experian called experian boost it's supposed to go into full effect by the summertime it will look at what your bank history is in terms of the bills that you're paying for your phone and utility payments it's factoring in phone and utility payment history which hasn't been done much before and it can update your score instantly by doing that. it's a good thing for a lot of young consumers who may not have much credit history yet and a way to get the credit history going. the other is ultra fico.
5:49 am
ultra fico by fico, the company that everyone knows for your fico score, they're also looking at your bank history they're looking at your balances and your cash flow both of these programs are programs that you have to opt into but this is another way that you may be able to boost your score by looking at things that hadn't been counted before, your checking and savings account balances >> when you start talking about looking at utility bills and things on the first program, experian boost, is that for people who don't pay on time or who had one bill that they paid late or something, or is this for somebody who doesn't have any credit history >> it's geared to people who have limited credit history and those in the gray area when it comes to their credit score. the average score has been going up, great news, over 700 on average. >> wow >> for people who are in those, maybe the high 500s, low 600 range, these programs are for them to help them boost their score. and there are still millions and millions of americans who have no credit history with any of the major credit bureaus you do have a phone, and you have your utility payments if you're paying those bills
5:50 am
with your bank account balances, then there's a way to track you, and this could help you out. >> if you don't participate in one of these programs, are there still ways that you could boost your score >> you have to do the three things that always matter when it comes to credit -- pay your bills on time every time as simple as that. keep your balances low and then also apply for credit when you really need it. limit those credit applications, those inquiries into your credit, as well. doing those things over and over again is another great way to boost your score if you want to opt into these programs and you think they'll work for you, that's terrific. those three things are really what's going to make the difference >> i would say, just to emphasize what you're talking about, every time you walk into a store and they offer you 20% off on that purchase when they offer a credit card, don't do it c it can cost over the long run. >> you need no more than two credit cards >> thank you next, a look at news for the week ahead. later, would you pay $80 for a hot cup of coffee that stays
5:51 am
hot? the high-tech company making joe jonas sing high praises. >> what they've been working on in their technology, it's unbelievable do i use a toothpaste that whitens my teeth, or one that's good for my teeth? now i don't have to choose. from crest 3d white, the whitening therapy collection with new spearmint and peppermint oil.
5:52 am
5:53 am
prewashing and removing stuck-on foods, the first time. wow, that's clean! cascade platinum. here are the stories coming up that may impact your money this week. on tuesday, we will see if there are any signs of inflation from wholesalers with the producer price index for december on wednesday, retail sales are out. that will tell us just how
5:54 am
consumers are doing. on thursday, we'll be getting the housing starts numbers for december friday marks national winnie the pooh day that celebrates the birthday of the author, a.a.milne. oh, bother whether you're a busy parent on the go or enjoy sipping coffee at a leisurely pace, keeping your hot beverages hot can be a challenge but fear not -- there's a new, high-tech mug giving a new jolt to your java jane wells gave it a try >> reporter: this is an ember smart mug. an $80 coffee cup with a battery attached to an app where you set the temperature for your coffee, and it holds the temperature for over an hour no more cold coffee. investors include joe jonas. >> hot coffee is a big deal. >> i'm clay alexander, frournds and ceo of -- founder and ceo of ember. >> reporter: clay alexander is an inventor whose grandfather resigned an original telephone and original thomas edison
5:55 am
phonograph here's how he created 2009, i wg wegs my wife i had worked with g.e. in thermal engineering. when my eggs got cold, i thought i got to fix this. this is the 21st century, at a bare minimum my plate should be able to keep my food at a decent eating temperature >> reporter: alexander worked on it for years before launching coffee mugs at starbucks at the end of 2016. >> i like the long game. i feel that's important is to be patient. >> reporter: if i were to say annual revenues top ten million, would i be wrong >> no, you are not wrong >> reporter: am i way off? >> we're doing really well >> reporter: the company is valued at $140 million and projects profitability by the end of this year with plans for an ipo or to be acquired its cups and travel mugs are sold not just in starbucks but
5:56 am
now in apple stores. and what's next? >> we plan to go from here into self-heated dinner plates. we have a baby bottle that we're launching which will heat the milk or formula up to body temperature within five minutes. >> ember is going to do some groundbreaking stuff i can't speak about everything, but what they've been working on and their technology, it's unbelievable >> reporter: an investment the joe paterno i can't s -- the joan yaus brothers hope is their latest hot hit. i poured coffee in this on a chilly morning out here over a half hour ago. it is still piping hot here's the thing -- becky, i'm one of these people, i have to keep my coffee really hot. i'm running back and forth to the microwave all the time they do limit -- i like it around 140, 141 degrees. you cannot go over 144 i think it is -- >> smart - >> reporter: for safety reasons. >> so you don't burn yourself like the lady at the mcdonald's. he mentioned a couple of things.
5:57 am
the idea that he got this from starting out from wanting his eggs to stay hot i thought naturally of baby bottles, if you could keep them warm through the night how soon could we see some of the other potential technology >> reporter: well, he hopes to have the baby bottle out in 2019 they're working on temperature-controlled clothing. we're not just talking heated clothing we're talking about clothing that you can have at a set, specific temperature as you want you can have thermoses which keep coffee hot for a long time. but if you want it at a specific temperature, you can have it in a cup or thermos they sell it's totally a first-world problem. >> yeah. completely although i can think of ways that it might be more efficient because you're not using energy doing other things, particularly the clothes. that sounds pretty cool. the jonas brothers' investment, is this the only thing they've invented or gotten into, that they've invested in, that's a little offbeat >> reporter: no. their management brings them a lot of ideas they pick what really fits them. in addition to this, they've invested in the line scooter startup and an alcohol delivery
5:58 am
service called saucy you got to figure coffee, scooters, and booze. that's got jonas brothers wringal over it. >> got jane wells written all over it. the good life, right cheers jane, thank you. i go from cheers with my beers to cheers with the coffee. probably more appropriate way to end the show anyway, that does it for us today. i'm becky quick. thank you very much for joining us next week, the fat-burning keto diet does it work, and is it safe our chrissy farr gave it a try we'll talk all about it. each week keep it here, we're "on the money. have a great one see you next weekend ♪
6:00 am
welcome to the nasdaq market site on this frigid friday the guys getting ready behind me in the meantime, here's what's coming up on the show. >> always go for the throat. buy low, sell high fear, that's the other guy's problem. >> and selling high is exactly what mike coe is enjoying with energy stocks. why he thinks the ride might be over and how you should trade it if you do, too plus - >> you shouldn't like things because people tell you you're supposed to. >> dan nathan says that's exactly how you should feel about netflix stock. he'll break down how he's playing the name after the stock's epic r
167 Views
IN COLLECTIONS
CNBC Television Archive Television Archive News Search ServiceUploaded by TV Archive on