tv Your Money CNN May 17, 2014 11:00am-11:31am PDT
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researchers don't know if the highly concentrated doses could help other patients or be effective on other types of cancer. we'll talk to the woman who was helped, live tomorrow, 2:00 eastern time. track star lolo jones, a versatile olympian. two summer games and one winter games. face-to-face, she tells me how bobsledding helped her get back on track. i'm fredricka whitfield. see you at 2:30 eastern time. "your money" starts right now. private moments gone public. you can lock the door, close the curtains, but like your favorite celebrity, someone wants to know what you're doing at all times. i'm christine romans. this is "your money." you know the latest scandals? a video on tmz that appears to show beyonce's sister solange attacking jay-z in an elevator? donald sterling, a private conversation caught on tape. >> did you know you were being recorded? >> no, of course not. of course not. no.
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>> but it's not just celebrities and ceos experiencing the breach of privacy, every click of your computer mouse, tracked and analyzed, and we're complicit. we willingly trade our information for convenience. we hunger for every stolen celebrity snapshot. >> it's not big brother any more. it's little snitch. >> europe is trying to walk it back. a google search, turn up something you don't like, google must remove it, if you ask. google is already fielding these takedown requests. tech billionaire mark cuban is so concerned about privacy he has a new app that turns your conversations to dust. texts on cyber, self-destruct 30 seconds after opened. i sat down with mark cuban. he also owns the dallas mavericks. we talked about privacy,
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millionaires and the clippers. >> first of all, you have no privacy. if the little things like license plate cameras to walking down the street. there are kresensors everywhere. they listen and take pictures. then it's a question are every time you post something on twitter or facebook. any picture you take, every time you hit send on your text, you lose onlyership of that text. i created this app it was in reaction to my experiences with the s.e.c. >> reading e-mails out of context? >> out of context. >> the information is there forever you can put together a paper trail, whatever you want? >> yes. i would say the sky's blue. they would say, what you really meant to say, the sky was gray but you knew we'd be watching and added their own context to it'sit's to the point now we have such large digital profiles. >> right. >> that i wanted to start
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shrinking my digital profile. then it occurred to me every text i've ever sent, the minute i hit send i lost ownership of it. it doesn't mean the texts were bad or anything wrong, it can be the most innocent thing ever. if someone decides to save it, keep it, post it on twitter, on facebook, forward it to a friend, it can take on its own context. so we created this app. and it's available on iphone now and it will be available on android and it's a stimp concept. you sandy text to another user, a message, 30 seconds after they open it, it's gone. it's deleted. >> the few billionaires coming out saying that they feel persecuted for their success. >> oh, that's the biggest bunch of nonsense ever. >> billionaires are nos purse kated? >> please. persecute away. please. i know you're not persecuted -- >> they say it's the politics of
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envy that america hates rich people? >> the dumbest -- i've ever heard in my entire life. ridiculous. are you kidding me? >> what is more fair? is it a fair system right now? >> look, one of the reasons i do "shark tank," right? it sends a message to kids and families that the american dream is alive and well. i go and talk to kids -- >> entrepreneurship. >> yes. anybody can start a business. you watch the show and see people from out of the smallest towns with the simplest ideas they believe can turn into something big and they do. it's the number one show on -- they tell us, the number one show watched by families together. >> right. >> that tells you the american dream, to be an entrepreneur and be successful, it's growing. >> you put your foot in your mouth, you get kicked out of the league. we know the nba bylaws and we know donald sterling with the culture of that team, the culture of him has taken over the entire personality of the
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team. the missoula ceo. had to step down because he gave a donation, six years ago. nfl players fined or suspended because of their personal opinion, but public reactions to michael sam kissing his boyfriend on espn. and donald sterling who could lose his team for as you say, being a moron. should we be in a that place? take someone's personal property? >> i can't comment on mr. sterling, but i can say we're a franchise organization. right? so it's not in the -- it's not apples to apples and taking property. that's kind of what i've learned since my original comments. you know, it's like if the -- someone who was a mcdonald's franchisee started talking about spitting in the french fries. >> he'd lose his franchise. >> right. why they call the it new york franchise, whatever. put that aside. but outside of the nba, again, going back to privacy, if i have to worry about what i say in my own home, if we have to censor ourselves because of what might
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be said, again, i'll go back to my apps. i created it to replicate a face to face conversation, and in a face-to-face conversation, people shouldn't be taking notes. but as it turns out, maybe they are. maybe someone's recording it. so i think -- those of us who are smart will take precautions to shrink our digital footprint to nothing? right? so we don't have to censor ourselves. it's not so much what you say, it's where it's recorded and how it's presented. >> it's everywhere? >> it's everywhere. >> for nba owners, the league is always watching. that's one reason why cuban insisted to me he would not talk directly an donald sterling. you know, cuban's pretty outspoken and no stranger to breaking the rules. mark cuban accounts for 10% of all fines levied by the nba from 2000 to 2013. all of the other owners combined make up just 9%. coming up, donald sterling says he's sorry. he's so sorry that he promptly
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insults magic johnson. he's not the first mogul to make a bad situation worse republican in bp to paula deen, a list of the worst apologies in business. that's next. of complete darkness. i am totally blind. i've been blind since birth. i lost my sight to eye disease. i lost my sight in afghanistan. and it doesn't hold me back. but my blindness can affect my sleep patterns. i go through periods where it's hard to sleep at night, and stay awake during the day. but i learned that my struggle was with non-24. non-24 is a circadian rhythm disorder that affects up to
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just $10 including creamy fettuccine alfredo, and our classic lasagna. plus unlimited soup or salad and warm breadsticks. signature favorites, just $10 all week long, at olive garden. an epic fail. the consensus on the apology delivered by donald sterling during his interview with our anderson cooper. sterling could have learned a lesson from those before him. instead he lands on top of the list of the worst apologies in business. >> i'm really sorry. i am. i'm sorry. >> it doesn't matter if you awe apologize if it's not sincere. >> apologies don't have to be sincere. it's just the act of the apology itself. >> the art of the apology may be lost on larry david. the corporate suite doesn't always get it right either. after dealing with the deepwater horizon spill in 2010, bp's ceo offered this. >> i'm sorry. we're sorry for the massive
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disruption it's caused their lives. there's no one who wants this thing over more than i do. i want my life back. >> he got it back. he was replaced. comedy central rubbed it in. >> we're sorry. >> we're sorry. >> sorry. >> nothing says "i'm sorry" i'm free pizza. what chevron offered residents of bobtown, pennsylvania after one of its gas wells exploded killing a worker. the a"daily show" -- >> sounds like you're hungry. i know just the trick. pizza! >> it couldn't help paula deen. she took a scene on the "today" show and got biblical. >> if there's anyone out there -- that has never said something -- that they wished they could take back -- if you're out there, please, pick
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up that stone and throw it so hard at my head that it kills me. >> but deen couldn't butter up her sponsor. they fled and her food network show shut down. deen is attempting a comeback, but for lululemon's former chairman, no coming back from comments about the company's high-priced yoga pants. >> quite frankly, some woman's bodies just actually don't work for it. >> the co-founder tried to apologize officer ending custom but only to employees. >> i'm sorry to have put you all through in. >> the stock plunged. wilson resigned. >> at target, ceo greig ste steinhaufal, i'm sorry came with free credit monitoring and 10% off for a whole weekend. sales fell, the hack expanded, he resigned. >> and i'm so sorry, and i'm so appa apologet apologetic, the lesson for donald sterling in business, saying sorry isn't enough. it's how you say it.
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>> oh, my next guest is laughing and crying through that piece. a media group that specializes in this. a long list of bad appaologies business subpoena's there a way to do it? >> take narc simple out of it. it's hard to do. donald sterling, i'm so "pa apologetic. it's always about them. me, me, me, me. you have to be absolutely selfless in an apology. >> you say you're sorry then hire an anti-trust attorney fight the fine bosses put on you, are you really sorry then? >> in the interview with anderson he hinted he wasn't going to fight the other nba owners, and taking the team way from him. it's possible that this is something of a recent development with him, after the
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interview, i have to say there was a long list of things to choose from. both sort of stupid comments from corporate executives and business leaders, also then just the actual apology that makes it worse. what can ceos and pup liblic fis learn? >> donald sterling should have had a short list or long list, good deeds he's done for people in his organization of color and people he's dealt with in real estate, acts of promoting other peoples careers or acts of generosity to actually show good deeds that could counterbalance this terrible image he has. if he had those he would have highlighted those in the interview. apparently he doesn't. >> if you were advising him, his next step? >> not sit down for another interview. >> stop talking? >> yes. more is not more. and my other advice to him would be, don't have anything come out of your mouth spontaneous.
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clearly the magic johnson portion of the interview was not planned, not on a message sheet and the worst part of the interview, and bizarre. >> terrible. absolutely. don't pull other people under the bus with you. >> i know. thank you so much. the weather's getting warm, kids will be out of school soon. no matter hour hechtive your schedule, don't miss the money news that matters most to you. take one moment, set your dvr to auto record "your money." thank you. coming up, if you have kids, earmuffs. i'm about to say a bad word. but it's the only word we can use to describe it. does your job suck? how bad is it? a tool to help you find out, next. also ahead, think like a freak -- about education. >> the more knowledge you acquire the better you will do period. that doesn't necessarily mean that the college track is right. especially when you're overpaying. >> is college worth it? one-half of the freakonomics team weighs in.
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all right. here it comes. a word i don't unusually say on television but the only word that sums it up, the only word used in this sentence, does your job suck? our friends at cnn money came up with a question to help you decide. the question is, do you like what you do? that is the big question bp i'm going to say, yes, because i'm saying yes. do you get along with your boss? yes or no? take our quiz and find out. is your job challenging? it should be challenging. that's what makes it fun. right? want you to take the full quiz and get your results at cnnmoney.com. we want to know what you think. lunch with the former fed chief, milking disney's "frozen." give me 60 seconds on the clock. it's "money time." want to grab lunch with ben bernanke, an anonymous bidder shelled out more than $70,000 for a meal with the form iter
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chairman's oh proceeds went to charity. a way to silence people who bug you on twitter. a new mute button let's you hide tweets and retweets and they'll never know you've muzzled them. ♪ threat go, let it go >> disney has no plans to let go of "frozen." the highest grossing animated movie of all-time. next stop, a broadway musical. the head of the international monetary fund snubbed by the smith college class of 2014. christine lagarde cancelled plans to deliver the address after students objected. signing an online petition protesting policies in developing nations. >> a lot of backlash from professional women who said, hey, why are you snubbing one of the most powerful women in the world? we've been waiting a long time to get to these levels of power and to be snubbed by college kids, not cool. the country with the best infrastructure and workforce will lead the 21st century.
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we're falling behind on both. how do we ensure we can make it global globally? i asked's stephen dubner co-author of "freakonomics" and the new book "think like a freak" i asked ho do we fix or classrooms? he said it starts with thinking small. >> a few economists went to china, this poor, rural province and china and noticed something, which was almost none of the kids wore glasses. that's weird. why? well, they tested the kids. a lot of them needed glasses but weren't wearing them for a variety of reasons. they ran a pilot program. we'll give half of the 500 who need them, $15 a pop. the other will leave and that will be our control group. the kids who got glasses were scoring a full grade ahead. you don't solve every big problem all at once. that's kind of the point of thinking. >> so many levels to switch in education in particular. i was talking to mark cuban,
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billionaire over the mavericks. he set limit student loans to $10,000, because university are getting free money and students have no idea of the value of the thing they're buying, because they don't understand the value of what they're buying it with. it's all inflated and artificial. what do you think about that? >> probably there'sality of truth to that. i haven't looked at that issue very closely. we have looked at the whether college is worth it. the big, broad issue. >> and -- >> the short answer is? e. the long answer is also yes but a lot of kauv ycaveats. what you study, how much debt you take on and who you are. one way to think about college. think about the opportunity costs of going to college. that means, what would i do with those four years, two years, maybe if doing nor, six, eight, ten years if not doing that and what would i do with the money? instead are paying money, earning money? there are a lot of people for whom -- not surprised to hear mark cuban say thathe's the kind of guy with the wherewith all,
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unbelievable drive and super smart guy. for someone like him, college may be one of the worst option. for many others, one of the best. the returns to education overall, however, you are, i would argue, among the best investments any human could make at any point in history. in other words, the more knowledge you acquire the better you will do, period. that doesn't necessarily mean the college track is right. especially when you're overpaying. >> what are other freakish ideas you have for fixing our education system? >> tell you one thing we didn't get in the book. there's a project that began here in new york called school of one. it's now got a different name. called new classrooms. i love this idea. what the fellow who founded it, joel rose, what he did, he thought if you went to sleep 130 years ago and woke up today, the world would look very different. transportation, television, almost everything. one thing would look similar, which is the classroom. so joel rose thought, what if i experiment with different modes of education within the same classrooms? some kids sit with the teacher. some sit with other kids to work
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on math problems. some have a virtual tutor on a computer. some play a computer game. take every kid and experiment with each kid learning in different styles and then at the end of the day test each kid to learn how did they best learn a particular piece of material? and overnight your algorithm computes for each kid how they american best. they come in next morning and have a play list to determine what they should do the following day based on how well they did with which stipe styles of learning the previous day. brilliant. i can't say it will work and pushback from teachers unions immediately, let's say. but if you want to think about taking a situation like edition ka, which we plainly don't love how we're doing now, it's worth thinking about very, very new ideas rather than trying to just push on the edges a little bit like we tend to do. >> a lot to think about, but an education, he says, start thinking small. up next, jcpenney hasn't been cool for a really long time
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but the stock got hot this week. "the buzz," next. your education is built to help move your career forward. here's how: we work with leading employers to learn what you need to learn so classes impact your career. while helping ensure credits you've already earned pay off. and we have career planning tools to keep you on track every step of the way. plus the freshman fifteen, isn't really a thing here. and graduation, it's just the beginning. because we build education around where you want to go. so, you know, you can get the job you want. ready, let's get to work.
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so walmart is blaming weather for as did appointing first quarter. paula la monica joins us. 90 seconds on the clock and talk about walmart's sniffles, i guess, in the quarter. >> yeah. i wouldn't believe that excuse. they did say the weather had an impact but their guidance for this quarter isn't very good and last i checked, no snow in the spring. another thing to keep an eye on, if walmart's numbers were bad, how bad were target's when they report this week? fired their ceo when the quarter ended. their numbers are probably going to be terrible. >> and jcpenney. end of the week.
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20% jump in one day. >> yes. jcpenney, good news. sales growth better, but still losing money. a lot of short sellers on this stock. a little bit of a squeeze going on. jcpenney still struggling. sears up and down this week, because they're selling canadians assets. both of these companies a lot of questions about their long-term future. >> old imin as. look at the worst days for jcpenney here, people who made a lot of money. talking about the short squeeze? >> definitely. traders, a great stock. if you're a long-term investor, stay away from this. >> the greed. what's happening in the market? >> a lot of fear. >> interesting start of the week with records. end of the week with a fear, extreme fear? >> yes. a lot of people i talked to note that we just have a market now where people are looking for excuses to sell because stocks did so well in 2013. this fear index on cnn money, extreme fear, it's showing. indication of a lot of skittishness. the real economy doesn't jive with what the market is doing.
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every now and then you get weak economic data and cd sell-offs. >> paul, thank you? and thanks for spending your saturday smart with us. head to cnn money for the latest on the massive $35 million fine general motors is set to pay. it's a result of its delayed recall for that ignition switch problem. "cnn newsroom" starts right now. -- captions by vitac -- www.vitac.com hello everyone. i'm fredricka whitfield in the "cnn newsroom." this breaking story coming out of the white house. let's check in with erin mcpike at the white house with new information on a possible appointment? >> reporter: fred, that's right. we understand from sources and jim acosta confirmed that the white house intends to tap julio castro to be the secretary housing and urban development. the guidance received from the white e
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