>> and a tv crew goes undercover to reveal the sexual harassment of women in egypt. >> will signs of an economic recovery carry the obama administration through the recent controversies. candy crowley joins christine romans. welcome to a 4-year-old economic recovery you may finally be starting to feel. for the first time since 2008, more americans say the economy is getting better than getting worse. gal lp has tracked americans' economic confidence every week since the financial crisis and it stands at a five-year high. why? stocks are at highs, boosting everyone's 401(k)s. fidelity said the average account is now $80,000 nice,000. for employees, the average account holds $255,000. that's nearly doubled over the

past four years. next, home values are rising. we hope that's making you feel richer. we learned this week the median price of a home sold in april jumped 11 percent from a year ago. the 14th straight year after year pricing increase and the fifth year in a row in double digits. unemployment, sev7.5%, way too high, millions of americans are out of work, but the signs point to an improving labor market. is this recovery, four years in now, solid enough for most americans to feel it, and not just the best earners? and what does it mean for president obama? candy crowley is anchor of state of the union. the president has been knocked off misage, controversies over bengha benghazi, the irs, the phone records. will a positive economic message ultimately drown out those controversies? >> likely not, to tell you the

truth. first of all, we're not at the end of the irs controversy. so it's still playing out. certainly, there are elements of benghazi as well, and there is the a.p. in this new report now, that they went after another reporter who revealed something about north korea. so these things will be ongoing because congress keeps them ongoing. and as you know, this is a town that is sort of driven -- actually, a country where great news, i think the economy, you'll see the president out there kind of talking about it and pushing it. but on the other hand, good news is not where headlines go. the headlines still are on the irs and things like that. it's hard to get this off the table. it helps the president, strengthened his hand, but i don't think it erases the headlines. >> steven moore with us today. you admit you're seeing signs of a pickup in the economy. does the president deserve any

of the credit for it? >> well, you've been waiting to ask me that question for a long time, christine. >> about three years. >> there's no question the economy is picking up. i'm feeling pretty bullish about the economy. you did a nice summary about the good news. let's not get carried away. it's still for middle class and lower income people, they're still really struggling. we haven't seen wage increases and salary increases. if you look alt the median wage over the last four years of the recovery, it's fallen a little bit, not risen. and unemployment is still too high, but you talk about the good things in the economy, and i would point to a couple things. one is those low interest rates out there are really providing a boom to the stock market and a boom to the housing market. >> you're going to point out that's not the president's doing? >> the president gets the credit because he's there when it happened. reagan gets credit for the boom that happened in his term.

bill clinton got credit for the boom that happened in his. one of the reasons the president might not get total credit for what is going on now is the biggest boom sector right now is the oil and gas industry. no question it's been carrying the rest of the economy on its back, and let's face it, he hasn't been the biggest advocate of oil and gas. if anything, he's tried to hold that sector back. >> i want to bring in rhana, he brings in a good point, not everybody is feeling this. a left leaning policy group said a third of americans are paid less than $24,000 a year. a third of american workers earn less than $24,000 a year. can you have an american recovery where a third of the people working are making so little money? >> i don't think you really can have a truly robust recovery. we're still in a 2% economy, if you stripped out the private sector, it would be a 3% economy. ultimately, if you look at the

fastest growing job categories in the country, they're low-wage jobs. and when you have a 70% consumer economy as we do, it's really hard to imagine how we're going to go back up to our historic growth levels unless we can get the middle class jobs going. >> that brings me back to candy. two thirds of americans still say the economy is in poor shape. there are a few glimmers, though, of optimism when you dig in the numbers. the number of people who say conditions are very poor, the worst option offered is at the lowest point in over a year. so candy, what's the administration's strategy on the economy as it's knocked off message here? >> in terms of actual policy, they're now around the margins of this. they push jobs for veterans legislation like that, much of what the president is going to do, wants to do, is put in his budget. this is still an economy that doesn't have a government with a lot of money to spend. there is still that big old

debt, republicans are still concentrated on that, as is some democrats. so there's not a lot of, hey, let's really prime this more and throw this money into a stimulus program. there's not that kind of money left. so there are some things he's doing and has proposed to increase the job rate among various grub groups, but you're not going to see something major. this is one thing where you will hear the president continue to talk about this, certainly so lang as the numbers continue. >> what's interesting about that, candy, is that i talked to business men and women. they are feeling more optimistic, no question about it, and these are people who hire americans. one of the things that is interesting is they're not kind of as afraid of president obama and the policies that are coming out of washington as they were in the first term. think about the first term. we had the stimulus, the huge dent, obama care, talk about union card check and cap and trade laws. those kinds of threats from washington have really subsided, and i think that's one of the reasons the private sector is

starting to take off. >> sure, absolutely. i mean, businesses in general love it when washington isn't doing anything. >> exactly. bingo. >> except when they bring you to the brink of, you know, paralysis because the debt sealing and all that stuff. there is the tion wisdom that gridlock is good for washington, but it doesn't feel that way. >> it certainly doesn't feel that way. it will be interesting to see how the markets react and how much is down to the fed and how much is down to the real economy. >> i think the fed and the discussions happened within the fed and about the fed are so important in the months going on. thank you so much, all of you. coming up, less than a week after deadly tornadoes tore through moore, oklahoma, residents vow to rebuild. but does that make sense? economic sense? that's next on "your money." hmm, it says here that cheerios helps lower cholesterol

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24 dead, hundreds of buildings destroyed. billions of dollars in property lost, but residents of moore,

oklahoma, have seen this before. this is the tird time in 15 years that tornadoes have carved a path through moore. so after three tornadoes, you might be surprised by this response. >> we will get through this. we will overcome, and we will rebuild. >> we will rebuild. again, she says. i want to bring in gerald, a professor of urban planning and design at harvard's graduate school of design. so nice to see you. thanks for coming by. we' rebuilding really heals psychological wounds. we have heard people say again and again this is my home, i'm going to rebuild. we are strong, we're going to get through it. but is it strong to rebuild in the same place where disaster has struck many times. >> smart is, of course, in the brain of the beholder. some will say it's smart and others wisay it's the opposite of smart. we are a resolute, some would even say stubborn people. as you said, we're going to rebuild, we're going to show

that storm. even we're going to show the terrorists we rebuild in the same area. nothing is going to stop us. also, we have to recognize these are people's homes. their streets, their neighborhoods, where they grew up, where they had memories, we're very attached to place. so where we see the images of a desolate, destroyed area, they're actually seeing their streets still. yes, it's their destroyed house, but this is where they grew up, where they want to continue to live. so we're a compassionate people, and we honor that sort of rebuilding effort. sometimes, in unwise ways. and that's where it actually isn't smart. it can, indeed, lead to unwise behavior, and it's a question of both government policy and individuals recognizing that we have to be smarter in the future. >> if we rebuild and rebuild in better ways or learn lessons in the rebuilding, that's a key. in 1999, president clinton urged moore's residents to invest in safe rooms that can resist

tornadoes. listen. >> if you don't remember anything else i say today, remember this. for goodness sakes, build a safe room in your house when you rebuild. go in and do any kind of alterations you have to do. it will be the cheapest $2,000 you ever spent. >> since 1993, fema has paid more than $57 million for 12,000 private and public safe rooms in oklahoma. but still, it's not everyone, and it's not everywhere. vital places like plaza towers elementary school, they were not protected when the tornadoes came. >> it's about the money and the statistics. an f-5 tornado is rare, 1% to 2% of tornadoes. the same reason they don't have safe rooms for earthquakes. they don't work all the time. >> my question to you is whether it's safe rooms for tornadoes, earthquake proofing, flood prevention measures, who paid for it, who should pay for it? >> it's really the central question now going forward. i think on smaller types of

things that are manageable by a middle class family, it is not unreasonable to ask at a minimum that they share if not pay for the entire cost. no one hesitates when government imposes a regulation, for example, that going forward requires homeowners to install smoke alarms or carbon monoxide detectors. the reason nobody objects is first it's smart for safety but also it's a very small cost. the issue here is the cost is slightly more, yet we should be asking people to bear some of that burden. and if government can provide some assistance, particularly in the aftermath of a disaster or over time to help people contribute to this, then it may be reasonable to do that. of course, given budget constraints. >> that's a key point, given budget constraints. you hear people on one hand talk about big government and government intrusion, too much regulation, this and that, and then something like this happens and you hear with almost unimimty, why wasn't there a

safe room in the school? because it costs money to build these things and the public has to pay for it. >> right, but it's a two-step dance. after the disaster, people understandably say government, come here and rescue me. government, come here and give me money to rebuild. and then when government also says, yes, but in the future, you will not be able to rebuild in certain areas or in the future, you must install a safe room or a basement in terms of tornadoes or whatever it may be, then you hear people say no regulation, no government, so it's this dilemma between wanting government and not wanting government. >> let me ask you this, a disaster modeling firm said its estimates that the insured losses will be between $2 billion and $5 billion and the cost of these disasters is rising. in the 1980s, major disasters cost less than $2 billion. since 2000, the average yearly danchlg has been $86 billion. what is driving this? is mother nature getting, i don't know, nastier, or is human

nature, are we building bigger things and there's more of us building in the same spots? >> it's a combination of all of those things. i mean, there does appear to be more high-risk storms, flooding, tornadoes. weather-related incidents occurring more and more and more. not earthquakes, bumet weather-related incidents, and in some cases, we have building, not rebuilding, but building in areas that are vulnerable, although i will say that government has enacted laws in a voert of places that begin to restrict building in vulnerable areas. this is not a matter of individuals being protected against their own unwise behavior, but it's society rescuing them, which puts them at risk. >> so nice to meet you today. thank you for your insight on that, and our thoughts and prayers with those people in oklahoma as they prepare. it is clear, over the past 15 years, they have done much in the town to try to protect

themselves. bust of luck as they try to do more. thank you so much. >> the jersey shore is open for business this memorial day weekend. according to a survey from aaa mid-atlantic, 79% of shore goers says sandy hasn't changed their summer vacation plans. some say they'll make an even greatereft to give their business to some of the places hardest hit by the storm. will the businesses be ready? zain asher took a trip to asbury park. she joins us this weekend. >> it's also a big weekend for the city of asbury park itself. you have to remember that one comes from beach tourism, so memorial day weekend is unbelievably important to that. also, these businesses are seasonal, so if they don't make enough revenue through memorial day, they will have a tough time through the winter. >> feel like you're walking on the ocean. >> new jersey restaurant owner marilyn always worries about the forecast. >> when we're open for business, every morning, the first thing i do is look at the weather. >> but it was the weather that

nearly destroyed her business. >> the window frames from these pavilions all blew into the other side, so every surge of water that came up after that ended up in here. >> the rebuilding began almost as soon as the waters receded. she landed a $250,000 loan from a small business administration and was able to reopen here in april. but it's been a challenging year to say the least. she now survives on one tenth of her previous salary and is struggling to make ends meet. >> i basically went from almost no debt to having about $25,000 in credit card bills and my entire savings wiped out. >> but she's hoping to see a turn around, and so is the rest of asbury park. on a great day ahead of the holiday weekend, there's a sense of anticipation. >> i think a lot of people will come to the shore this weekend. to sort of check it out, see what it's really doing, but we're open. we're ready. we have great music here all the

time. we're always partying. this is the place to come. >> you might say asbury park is one of the luckiest spots on the jersey shore. its music scene made famous by rock legend bruce springsteen who got his start at the stone pony across the street has kept asbury park in the spotlight in the aftermath of sandy. in the lesser known harder hit town of normandy beach, she has another restaurant which has also reopened, but she said the customers are nowhere to be found. >> i'm dying down there. i have been open for a month, i have no customers. everybody thinks the island is closed. you see houses on top of houses. restaurants and businesses aren't reopening, and i'm really scared because that's my home. >> memorial day weekend is the shore's first big chance to bring business back and reward months of hard work. she's back to worrying about the weather. >> to us, the weather is everything. if it is 90 degrees and sunny,

we'll be packed. if it's raining and cold, we're not going to be busy. >> we talk about the fact that, you know, 11.7 million americans are out of work and the unemployment rate is 7.5%, but she's having the opposite problem. she's looking to hire but she says she cannot find workers. she said that peemp sort of still have it in their mind that the jersey shore was completely destroyed by sandy but that's not sure anymore. >> the last town i visited last summer was asbury park, and it's changed so much over the last ten years so i hope people will get out there and spend some money on the shore because it really matters. >> it does. >> coming up, protecting your property before disaster strikes. the ins and outs of insurance next. with angie's list, i save time, money, and i avoid frustration. you'll find reviews on home repair to healthcare

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thousands of oklahomans are picking up the pieces after this weekend's deadly tornadoes. the painful process of rebuilding for them starts now. it's one that is all too familiar to homeowners on the jersey shore. they spent the past seven months rebuilding their homes and their lives, dealing with reconstruction and insurance claims, a process that's not always easy. more than 2400 homes damaged or destroyed by the devastating tornado that rocked moore, oklahoma. for homeowners forced out of their properties by a natural disaster, the painful process of rebuilding and insurance claims starts now. mary and tom know a thing or two about that. seven months ago, they new jersey home on the shore was flooded during hurricane sandy. >> i think there was a certain shock when the water was coming in my house. i couldn't believe it. and it didn't knock the front door down. it kind of rose up. >> bubbled up through the carpeting. yeah, you're like -- >> immediately, we walked around

with my son, and that was my first thought of insurance, actually. >> what's the first call you make? the first call you make after everyone is safe? is it the perb who sold you the insurance policy? >> get in touch with your insurance company. let them know the extent of the damage and where you can be reached. that's the most important thing to do. >> jean represents the insurance industry. she advises all homeowner dooz know what is in their insurance policies before disaster hits. >> there are a lot of disasters that are covered under standard policies, for wind damage, for fire, for falling objects. the two big disasters that are not covered, one is flood and the other is earthquake. and you need to get separate insurance for those types of disasters. >> the walls' home is covered for flood damage and they contacted their insurance company immediately after the storm. but they were frustrated by their carrier's slow response and decided not to wait for an insurance check to start the

rebuilding process. >> i had no clue what goes into, like, this whole process. i actually had to say to a couple of the guys, what exactly takes place? break it down for me and tell me how this works because it was, like, very foreign for me. >> there were people who just experienced so much worse than we did. you know, my insurance company didn't pay for everything, but in the final analysis, i was satisfied with the dollar amount. >> they spent most of the past seven months displaced but were able to move back into their home last month. >> keep the faith. things will get better. >> yes. >> you need family and friends. >> and don't be afraid to ask for help. >> best of luck to the walls and also to everyone starting to rebuild now in oklahoma. a rare round of cheers in congress this week as senators actually came to an agreement. a landmark immigration bill now head today the floor. i'll explain what that could

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a surprise in washington this week. real compromise. i'm christine romans. this is your money. 27 years, that's how long it's been since the united states overhauled immigration law, but this week, we got a step closer. on tuesday, members of the senate judiciary committee reached an agreement on a landmark bill. three republicans joined the democrats in a landmark measure. immigration touches every aspect of american live. it raises heated controversial issues about national security and cultural identity, but make no mistake, at its core, immigration is 100% about jobs. under this bill, the number of highly skilled foreign workers admitted to the country would rise from 65,000 a year to 110,000 and possibly more depending on the unemployment levels. that's a major win for big tech firms. tech company ceos say they can't find enough talent at home to

fill the positions they need, it also scrapped legislation requiring the companies to make a good faith effort to find american workers before hiring from abroad. that now only applies to runt companies that hire foreign nationals for more than 15% of their work force. millions of undocumented workers would be able to stay in the country legally. they can work in this country legally. after a decade, they would become eligible for a green card, and three years later, full citizenship. it also establishes a visa program. jeff sessions, a republican, he votes against the measure. he's worried authorizing millions of undocumented workers to take jobs legally will push down already stagnant wages. that hurts low-skilled americans, he says, the most vulnerable people in this work force right now. as he put it, quote, my republican colleagues seem oblivious to the free market. anna navarro is a cnn

contributor and republican strategist. you are a republican in favor of immigration reform. you got to tell me, how divided is your party on this issue right now? how do the factions stack up here? >> you know, christine, i think the division is highly exaggerated. i don't see the level of division that i saw in 2007 or that i have seen in the past. most republicans agree that what we have right now is de facto amnesty, that it is a broken system, and that it needs to be resolved. there's some differences on how to resolve that, but there's almost consensus on the first part. and i would tell you that the republicans that matter, the ones that draft policy, the ones that shape the agenda, are very committed to moving something and passing something. >> i will say you do not see the heat and sort of the public interest and also misinformation that you saw in 2007. i mean, this has been moving quickly and sort of under the

radar, wouldn't you agree? >> well, i think a few things are happening. first of all, there's a lot of things going on at the same time. you know, it's almost hard to keep up with the scandal dejure in washington, but also, i think my senator, i think having marco rubleio in the mix is having a huge difference because he's uniquely situated to explain this and talk about the bill and the benefits of this bill as a hispanic, as a republican, and as someone who really understands and communicates, and identified with the base of the republican party. >> but he doesn't agree with another senator who has a voice in this, ted cruz. when you look at the two different positions of senator cruz and senator rubio, it's sort of illustrating what republicans are grappling with right now. >> you know, i have been somewhat surprised by the attitude and the votes of senator cruz.

i think he -- you know, he's changed somewhat from when he was back in 2000 working in the bush campaign. but also, he's at this point, he's in the minority in the republican faction of the senate. you're seeing that this thing is moving along. what we saw this week is we saw the four members of the senate gang of eight who were also members of the judiciary committee stick together and protect the integrity of the deal they crafted. they swatted away anything that would be a poison pill amendment on both the two democrats did it as well as the two dp republicans in the committee. there's great commitment to getting this deal through. >> ana, nothing more interesting and controversial than when you put politics, jobs, and immigration all in one -- all in one discussion, certainly, this discussion will only get clolou and more interesting over the next few weeks. thanks. >> thank you. >> some in government want to

take a bigger bite out of apple. >> it's time for organizations such as apple to reorganize their tax strategies to pay what they should and invest again in the american economy. >> i frankly think the committee should apologize to apple. >> is this a greedy company, a broken tax system? the truth about big corporate tax loopholes next. i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. on any new volkswagen. are you still sleeping? just wanted to check and make sure that we were on schedule.

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i have here in my hands the u.s. tax code. this big binder is one of 16, 16 binders, 74,000 pages is the u.s. tax code. it is a confusing maze for both individuals and corporations. the top tax rate for businesses

is 35%. but many companies don't pay that. they don't pay that because within all of these books. within all of these words, within 74,000 pages are scores, hundreds, thousands of loopholes for companies, and companies don't pay the top tax rates, including apple. this week, a top senate committee grilled apple. they wrote a scathing report that said they use subsidiaries in ireland to avoid paying taxes. all legal because of these books behind me. senator john mccain coauthored that. >> america's tax system is broken and uncompetitive and i have long supported efforts to modernize it. however, i will not use that position as an excuse to turn a blind eye to the strategies used by apple. >> but apple's ceo defended his company. >> we pay all of the taxes we owe every single dollar.

we not only comply with the laws, but we comply with the spirit of the laws. we don't depend on tax gimmicks. we don't move intellectual property offshore and use it to sell our properties back to the united states to avoid taxes. >> apple isn't doing anything illegal. it's simply doing what every u.s. company does, taking advantage of the loopholes that congress itself created. it's a point that rand paul made in one of the hearing's most fire breathing moments. >> i frankly think the committee should apologize to apple. i think the congress should be on trial here for creating a bizarre and byzantine tax code that runs into the tens of thousands of pages for creating a tax code that simply doesn't compete with the rest of the world. >> so this is that tax code, and paul went on to say that congress doesn't need to be having a hearing. it needs to look in the mirror. it needs a mirror because it's

time for congress to take a good look at itself before castigating companies for legally navigating the system. david is a tax analyst, jean is a writer for cnn money. they're grilling over loopholes in the laws. is that fair? isn't tax reform really the answer here? >> well, of course, tax reform is the answer, but remember, the companies are the ones who go and give campaign contributions and hire relatives of lawmakers to get all these complexities. for 100 million of the 140 million tax returns filed in the country by individuals, it's so simple, you could put it on one page, but companies like apple engage in stratdagies that are, to cite the title of my book, perfectly legaling, but have the same effect that not paying taxes. that means you and i either have to get less government services,

pay higher taxes, or have the government take on more debt while apple defers its taxes. i have a column that breaks down how apple is causing your taxes. >> you can draw that connection? the connection between complicated and not very complicated tax strategies that keep a company's tax bill low and my tax bill where it stands now? >> and here's the simple way to think about it. imagine if instead of having your taxes taken out of your check before you got it, you could keep that money and pay the government 30 years from now. if you invested that money at 3%, it would be two and a a half times as large in the future. you would actually make money off the tax system. that's what apple and other big companies do. the tax system is a profit center, and indeed, they called it a profit center. >> apple's -- jean is here with me, and i have to say, when i

talk about taxes and budgets, we chat about taxes and budgets all the time. apple's complex tax strategies really draw an example of what is wrong with our tax code. explain to me how u.s. multinationals take advantage of this loophole? >> one of the ings that was discussed when apple was on the hill was something called a cautionary agreement. u.s. multinationals choose to share things such as the cost of research and development or in the case of ireland, no-tax countries. what the problem of that is is tax experts say is they give the offshore subsidiaries a sweet deal. if i'm going to invite you in to get in on the ground floor of my next great product, i'm going to make you pay for that. what happened in the case of apple is the subsidiaries pay a little more than 50% of the cost, but they earned about 15 times the profit on their investment, where as the u.s. based operation only earned about eight times.

that raises a red flag to tax experts to say is that a fair market price? and then as david noted, they don't get paid -- u.s. taxes are not paid on that for years and years because they don't bring the money back home. >> what i learned last week listening to the hearings, listening to fire-breathing senators angry about a tax code that they created, what it cements in my opinion is executives in charge of tax departments are probably the most important people in business today, do you agree? >> they're very, very important. they're very well paid. g.e. has, it's estimated, more than 800 tax lawyers. this is a huge waste of human capital we should be putting to other things, but what we sho t shouldn't do is just cut taxeracy. we need to have real fundamental reform. we should have single company

accounting which would end the process jean described, and we should end deferrals. we require companies to keep two sets of books, one for share holders. one for the irs. we should go to unified accounting. >> i think it's not going away. one thing is certain, tdeath, taxes, and fighting about the taxes. thajs so much. >> marissa mayer promises the company won't screw up tumblr, but whey do they want to know? ? ? ? [ male announcer ] with wells fargo advisors envision planning process, it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors.

it's official, tumblr is becoming part of yeah w. not what? they bought the blogging website for $1.1 billion, but tumblr might be worth even more for yahoo. marissa mayer promised their company won't, quote, screw this up, but users are skeptical. laurie siegel sat down with

tumblr ceo david carp. it's so interesting, he didn't even finish high school, and now he's negotiating with marissa mayer, what was her role in all of this in. >> look, marissa mayer has for some reason this charm in the tech industry. you see all of these young entrepreneurs going to yahoo now, and they weren't able to get a lot of the younger start-ups to get involved. it wasn't cool to be acquired by yahoo, and i will say this, david carp really defined cool. he's a new york-based entrepreneur, he used to drive a vespa around the streets, has a beautiful girlfriend. >> listen to what he said to me, christine. >> not only is she a genius of the

she is something that i really value. she's one of the most uniquely happy and productive people i've ever met certainly in this industry. that's something that i -- we just strive for in the sense of eternal optimism and purpose. she brings that in a profound way sglp so interesting. i think people think you made $250,000 of his own money. here is a kid, born and raised in manhattan. his parents let him drop out of high school because high school wasn't really feeding his brain. they let him kind of work on his own, make his own programs. this is not your typical kid. >> absolutely not. when he showed up to the interview he brought his mom. they're from the upper west side here. he doesn't suggest that entrepreneurs should drop out. you hear this and say, okay, maybe everyone should drop out and sell their company for a billion dollars. he says this has been a full-time job since he was 14. but his parents were many different than other parents because they supported him leaving. he actually told me a little bit about it. listen. >> i give both my parents so

much credit for this. it was in fact their idea. i knew what i wanted to be working on. i wasn't really getting it out of school at the time. my parents saw that and they helped me find opportunities where i could pursue that. >> we've been hearing about tumblr users jumping ship all week. what is it use remembers saying about this partnership? >> look, people are worried. tumblr users, it is a certain user base. these people pouring their hearts out on these blogs. a lot of people went to war press which is the biggest competitor. i had the opportunity to sit down with the founder of war press. they're look being at their tenth anniversary. he he said that, look, people jump ship any time this kind of thing happens, we'll see if it sticks. what he said was they didn't sell for enough. listen what he told me. >> yahoo! needs somewhere to work and they need a social

network. really the only criticism i have for the whole dealcy think they sold it for too little. blogging platforms have huge, huge potential and they have fantastic engagement as well. >> so if you look in the future, could tumblr have sold for not 1 bnt $1 billion but tens of billions? matt says this was very bittersweet. this kind of platform, you look in the future, it could be very, very successful and for advertisers, too. >> we know there is a lot of adult content on tumblr. should users expect big changes? >> he was a little bit awkward about that answer. i thought maybe it was because i'm asking him about the porn problem in front of his mother. what he said was nothing's going to change. those guidelines are strict. but i think it is going to take time. people post a lot of times illegal material on tumblr. now it is part of a big public company. you just can't ignore that now.

>> we'll talk to you again very, very soon. coming up, most days they grade tests, or sign book reports but this week teachers in oklahoma put their lives on the line. a look at courage of teachers next. where companies like geico are investing in technology & finance. welcome to the state where cutting taxes for business... is our business. welcome to the new buffalo. welcome to the new buffalo. welcome to the new buffalo. new york state is throwing out the old rule book to give your business a new edge, the edge you can only get in new york state. to grow our start your business, visit thenewny.com as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios

♪ the one and only, cheerios ♪ it was the best day ♪ ♪ it was the best day yeah! ♪ it was the best day ♪ because of you [sigh] [echoing] we make a great pair. huh? progressive and the great outdoors -- we make a great pair. right, totally, uh... that's what i was thinking. covering the things that make the outdoors great. now, that's progressive. call or click today.

when you drop your child off at school in the morning, you never think it's the last time

you'll see your little boy or little girl but as we've seen too often in the past few days, there could be days when it just might be. listen to the sound of 25 terrified children hud ld inside of an elementary school bathroom as a massive tornado rains debris on them. you can hear sixth grade teacher lynn bretton trying to reassure them. >> you're okay. this week is the full horror of the deadly tornado in oklahoma emerged, so did story after story of heroic teachers who put themselves between their tiny charges and the fury of that twister. >> his teacher's in the hospital. his teacher saved his life. >> who's his teacher? >> mrs. low. i have no doubt that god -- they lifted a wall off of these kids, several kids. >> me and four other guys pulled a teacher out. she was on top of three kids. the kids were fine.

she was hurt pretty bad. >> it's nothing anybody wouldn't do. these children, we see their smiles, their tears every day, in and out and we love them and they're our babies. >> this isn't the first time teachers have bravely stood up in the face of terror. nearly six months ago in newtown, connecticut six teachers died trying to shield their students from a gunman bent on mass murder. in february president obama posthumously awarded those heroes the medal of freedom. >> they could have taken shelter by themselves, focused on their own safety or well being, but they don't. they gave their lives to protect the precious children in their care. >> away from the headlines teach remembers called on every day to exhibit a quite heroism that can change lives. we depend on them not only to educate an prepare our kids for the rest of their lives but also to detect whether a child is being abused or to intervene when a child is being bullied. more than 355,000 teachers jobs have been lost since 2009 when the recession officially ended. since the recession ended, the

average starti ining salary in education, $45,000 a year. college grads who start in communications or health sciences are making more. someone who gets into teaching clearly isn't doing it for the money. they are doing it, we know, to shape young lives, to provide the knowledge that will enable the next generation to compete in the global economy. but sometimes in between a mundane math quiz or a lesson on subject-verb agreement they are asked to sacrifice their own safety and when they do, so often they just say they're doing their jobs. we want to take a moment to say thank you to this country's teachers. that's what they're doing in moore, oklahoma. david wheeler says his son day breel is alive today, alive, thanks to the actions of his third grade teacher, julie simon. >> she is a member of our family for the rest of our lives and she'll be a part of it forever. there's nothing that we can give to her that will repay her. we jt thank you, julie, and we love you. >> the largest profession in

america and none more important. our sentiment exactly. thanks for joining the conversation this week on "your money." find me on facebook and on twitter. my handle is @christineromans. hello, everyone. i'm fredricka whitfield. welcome to the "cnn newsroom." a look at our stories topping this hour. president obama toured the damage from that ef-5 tornado. he told people in moore, oklahoma that the nation has their backs. we'll have live team coverage next. and texas is having better weather today after torrential rain and flooding in the area for two days now. two people died in the high waters. the search is on today for suspects in the killing of a kentucky police officer. his body was found yesterday at an exit ramp of the blue grass