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tv   Your Bottom Line  CNN  February 4, 2012 9:30am-10:00am EST

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to have to deliver a smon that's going to have to be very impactful, right? i have to put on the greatest show on earth in the middle of the greatest show on earth. i have minutes to set it up and seven minutes to take it down and 12 minutes to put on the greatest show on earth. that's a lot of pressure. >> do you have any hints of what you're going to be doing? >> i'll be singing. >> who knew she could be nervous? 11 million people are expected to watch. your bottom line starts right now. when will companies stop sitting on their cash and start hiring? good morning, everyone. i'm christine romans. coming up on "your bottom line" we get to the bottom of disconnects of workers desperate for a job and companies who say they can't find quality workers to hire. moms and dads, their kids and
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grandkids are increasingly living together under the same roof. the trend is exploding. also exploding, college tuition. we'll talk about innovative ways to keep tuition prices down. and if you love the '85 bears like i do, or the super bowl like my husband does, don't touch that dial. a special treat for you is ahead. let's begin with a bid to revive made in the usa. manufacturing in this country means jobs for americans on the assembly line, designeding the products, running the plan. president obama has a jobs and competitiveness council and two of its most prominent members are with us this morning. steve case is, among many things, the coe of revolution and thank you, both of you, for joining us this morning. steve, you've employed tens of thousands of people. you see entrepreneurship and enknow vafb will create the next generation of jobs. but what about the jobs we need today? >> the products are particularly
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focused on entrepreneurship and the start of up america partnership. the reason it's important, america has a history of entrepreneurship. the reason we're the leading economy in the world is because of entire new industries that have propelled us into the lead. so we need to, as a nation, continue to focus on that and double down on our commitment to entrepreneurs because they are the ones that commitment to creative companies. high growth company cut across all the spectrum and services and manufacturing, all regions around the nation. >> steve, i want you to listen to this exchange the president had this week with a woman named jennifer waddell from texas. my husband has an engineering degree with over ten years of experience. and he was laid off three years ago and has yet to find a permanent job in his field. >> what city tells me is that they don't have enough highly skilled engineers. >> so here is the trouble. we talk about science, technology, engineering, math,
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here is a guy who is a semi conductor engineer that can't find a job. that's a narrative you hear from people a lot. talk about creating jobs, the business of telling the president how to make that happen. people are still pretty frustrated. >> absolutely. there is, as you say, a disconnect. there are jobs that are available but generally they have a retirement in terms of engineering skills that most people don't have, which is why focusing our schools back on the s.t.e.m. topic is so critically important which is important if year bog to win this global balance. but there are issues like this guy who has the right skills and hasn't connected and we need to do a better job of playing that matchmaker role. whether you want to work for a large company, you kind of could imagine working there for your entire career. that's less common these days. people tend to move around industries, move around companies, sometimes move around cities. so it's hard to stay connected to the entrepreneurship. that is one of the reasons we
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started the entrepreneurship to be a way entrepreneurs can find the companies they need to drive their companies. >> darlene, it's interesting. the reason why they can't leave dallas/ft. worth is because they have a custody agreement. that's a fact of life for many american workers. you might have the skills but you're not necessarily in that region. you actually say the president wants companies like yours to manufacture in the united states and you do. you have 6 to 8 positions to fill. but you can't fill them. why? >> well, because of industry has become very high tech. and so we need eem with the skill sets to render high tech equipment and they have to have a lot of math. as steve was mentioning, the s.t.e.m. is so critical in the training. we no longer have positions where we can just take smgz someone off the street and train
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them because it's so involved in the technology. so i'm really proud to say as part of the president's council, i've helped develop a program called right skills now in minnesota and nevada which is training beginning cnc machinists for our industry. >> so you're actually helping train the people to fill the jobs that you need. what responsibility to companies have to help create these jobs and not just ask for lower taxes or fewer regulations or, you know, the workers up their skills. >> i think there's a bit of a disconnect between what the technical schools and colleges might think that we as businesses need. so it's really imperative that businesses get involved so that when these people graduate, they have a job to go into that's a real job. >> steve, ms. miller, thank you
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so much. thanks to both of you. have a nice weekend. >> thank you. >> thank you. most parents or in-laws visit for the weekend, maybe they visit for the holiday. but a new trend has a growing number of people moving in for good. we'll explain, next. wow. wow. but you can help fight muscle loss with exercise and ensure muscle health. i've got revigor. what's revigor? it's the amino acid metabolite, hmb to help rebuild muscle and strength naturally lost over time. [ female announcer ] ensure muscle health has revigor and protein to help protect, preserve, and promote muscle health. keeps you from getting soft. [ major nutrition ] ensure. nutrition in charge! for fastidious librarian emily skinner, each day was fueled by thorough preparation for events to come. well somewhere along the way, emily went right on living. but you see, with the help of her raymond james financial advisor,
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for the past 18 months, home prices have basically been drifting down. home sales are picking up, but the prices aren't. since the bubble burst, we are now at new lows for home prices. the case shiller home price index shows mid 2003 is where we are now for home prices. record low mortgage rates and still the housing market is a mess. the president says the government has to do more. i've been saying that this is a make or break moment for the middle class and this housing crisis struck right at the heart of what it means to be middle class america, our homes. >> he speaks about refinances. house speaker john boehner countered, it's time for the government to get out of the way
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of the housing debacle. the government's home motive program has helped about 910,000 homeowners. it was designed to help about 4 million. same for the previous refinancing plan. it was designed to help millions of americans. instead, 962,000 homeowners were helped. all the news in housing has been bad, right? it's putting construction contractors and crews back to work. >> i'm dad. >> i'm the mom. >> i am the son. >> i am the grandmother and great-grandmother. >> three generations, plus one dog living under one roof. make that four generations when ella visits. >> it means a lot to me to have everybody together a lot. >> for the first time in decades, more generations are moving in together, reversing a
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trend that's been in place since world war ii. it's about culture, convenience, it's about money. the trend has grown 30% over the past decade, fueled by immigration, with people living longer and more recently, job losses and foreclosures. >> we have a couple of bedrooms upstairs. >> new jersey builder don dernis renovates single family homes to accommodate more than one generation. >> when you look at the housing market, you can see this is an area in housing showing growth. are you seeing that in your business. >> absolutely. we've been dining multi gen houses for 20 years. in 2009, it's grown to 3 to 5 projects per year. >> one of those projects, building an addition for the laflevs. >> i could have never afforded this by myself. >> for her, it was definitely economic. but for us, i think it was --
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>> peace of mind meant a new social dynamic to keep the peace. >> mom is sensitive to our family dynamics, too. >> it was important for us to keep her room separate. she's an integrated part of the house, but, you know, she could make it tougher and she has a separate entrance on to the back deck. these are the important things. >> but this comes with unexpected perks, too. >> i have a washer and dryer right here. >> every couple of days, i bring my laundry down, and a come home from work and it's all pressed and ready to go. >> it used to be commonplace to grow up with your aunt or cousins living with you. it's so amazing. my mother grew up with her grandparents living with her. and this was after world war ii, we started moving away from this trend. but it's coming back and it comes with real challenges for
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families, especially families who are now used to having their own house, more cars than they can drive. we went to mcmansions and now we're going in other directions. >> and our self-esteem was based on independence. now we're seeing the value of extended family and how each member of the family really can have something to offer. so in many weighs ways, this can be a beautiful thing. >> the trend has accelerated over the past couple of years. i could get real deep and say people really got scarred. they learned that money isn't the most important thing, but that money isn't the big reason to do it. the average cost for a nursing home per year for one year is $79,000 a year. if mom moves in with you and you do a little renovation, that's a good investment. >> and then there's the elder care and child care because sometimes it's the grandparent that's healthy and tain taking care of the grandkids. so you have a nice cultural moment there where the grandkids get to have a close relationship with their grandparents and less
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loneliness. >> you have to talk to each other and know what the expectations are. >> i think so. >> like the laundry. that was an added perk for him. but everyone has to have a set of rules and know what bills they're going pay, what their job is going to be. >> and the truth of the matter is, with families, there's the potential for lots of communication and conflict. also, if you have a bit of family, i love the idea of creating a contract, that's that's black and white where people can know who is handling the mortgage? who is doing the cooking? who is doing the child care? so you have something to refer back to. costs are exploding for elder care, for day care for children. living together can ease that. it also means consolidating heating and mortgage expenses, all smart ways to deal with an economy that's increasingly difficult for the middle class. here is the bottom line.
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decide early who will be paying for the construction if there's a renovation and who will be paying which monthly bills. in general, experts say it's best to use the elder person's money first. set expectationes and establish ground rules. and everyone who lives in the house has to know what their job and role is. no surprises. and respect each other's privacy. just because you're sharing a roof doesn't mean you should be sharing every single moment with one another. most importantly, before a renovation, make sure you know your zoning rules and talk to your accountant about the tax implications of merging households. all right. the cost of a four-year college, it's a small fortune. but why does it have to be so expensive? is it time to redo the model? we'll put the question that the universities themselves. that's next on "your bottom line." in america, we believe in a future
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a college degree is vital to getting jobs available. the problem is, college is
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expensive, very expensive. this generation has seen the median income rise only 15% while the cost of college is up more than 130%. and student loans are adding a postgraduate financial burden. president obama touched on the cost of college issue in his state of the union address. and he listed help from a dozen college presidents and higher education leaders from across the country to come up with some appearses. we're happy to have the three of them in this morning. nancy is a chancellor of the state university system of new york. king alexander and tom snyder, president of ivy tech community college of indiana. welcome, all of you. president obama, he's not holding back when he says he wants colleges to change the cost structure. listen. >> we are putting colleges on notice. you can't keep -- you can't assume that you'll just jack up tuition every single year. if you can't stop tuition from going up, then the funding you
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get from taxpayers each year will go down. we should push colleges to do better. we should hold them accountable if they don't. >> students and parents of prospective students like to hear that. nancy, you lead parents like to hear that. you lead is it the highest education system in the country. >> right. >> what does this mean? college is on notice. what does that mean? >> i think we're all pleased president obama is taking this issue on because it is a partnership between the investment of a state and the cost to a student and to the student's family. and particularly, we dealt with this last year in new york. governor cuomo put a rational tuition in place which protects the ceiling for the next five years, makes the increases very fair and minimal, makes sure that students can predict how much the cost of college will be over a long period of time, and prioritizes students in need as the first students to close that financial gap. so i think that's a serious
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approach, one that we're using, and i think the country could embrace. and i'm glad the president is talking about it. >> you know, king out there in california, though, students have a lot of choices really, quite frankly. they can do a state school, private school, community college. and a lot of them are deciding, making decisions based on money, not what they're interested in, their aptitude or what they think their career path will be. in some cases a lot of this is kids are looking so hard to find the money to go to school, but the tuitions just keep going on. that can't go on forever, can it? >> i think -- first of all, i'd like to also commend the president for raising two very important issues. one is there are good and bad players in higher education with regard to tuition. and there are over 150 institutions charging over $50,000 and more but there are many who have done an excellent job keeping their prices well below the national average and with very limited student loan debt upon graduation.
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the second point i think is also, it's not just putting the colleges and universities of notice but it's putting state legislatures on notice. the president mentioned that earlier in his speech. they're working on procedures and policies such as maintenance preventionishes. that's the biggest source of tuition costs in the country is how the states are abandoning their commitment to higher education. it's 50% below where it was in 1980. they would also say that the cost of the thing you're delivering has been going up too. you can find way to cover the cost, but the tuition keeps rising and the cost per unit of what you've been delivering has been going up, hasn't it? >> it has in many institutions. some spend more than any institutions in the world. however, on many campuses, many large campuses like ours, our cost per student hasn't changed that dramatic will i in the last 15 to 20 years. >> it's where the money is coming. the burden is going on the student more to pay for it. >> correct, correct. >> i want to talk about
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community colleges. tom, we've talked about community colleges. i'm a strong proponent of community colleges, starting on to community colleges and moving on to a state school later. the president has talked a lot about the importance of a community college education and making that a viable pathway for people. but there still is kind of this pecking order, if you will, among people who are like, oh, i want to go to a private school. how do you make community colleges a viable and really attractive choice for people? >> well, i think today there really is this final four syndrome where people are under the pressure that they must go to a unique residential experience a experience. in reality unless you're going to be a supreme court justice and go to yale, you can make a great choice by going to your community college. half the nurses come from community colleges. they finish with no dead, $10,000 for the cost and have a great jobs. so it's a terrific option. >> nancy, king, john, thanks for
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joining us. have a great weekend. remember the super bowl shuffle of the '85 bears still stuck in the minds of so many super bowl fans. one prominent member of that team is now on a mission and he's going to tell you about it next on "your bottom line." on his future. he d but fortunately, somebody else was. at usaa we provide retirement planning for our military, veterans and their families. now more than ever, it's important to get financial advice from people who share your military values. for our free usaa retirement guide, call 877-242-usaa. i had[ designer ]eeling enough of just covering up my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin. [ rv guy ] enbrel may not work for everyone -- and may not clear you completely, but for many, it gets skin clearer fast, within 2 months, and keeps it clearer up to 9 months.
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american kids dmot always eat healthy foods and it shows. nearly one in three children in the u.s. are overweight or obese, and that obesity rate has tripled in the past three decades. so on this super bowl weekend we want to take you to chicago where a member of bears football royalty is making it his mission to get kids back on the right track. >> we always say in the locker room, the more you can do, the more valuable you are to the team. >> reporter: otis wilson is no longer tackling opponents. he's tackling a childhood epidemic. as a chicago bears linebacker, he wore the number 55, and today his after school program, "55 alive" gets children in chicago moving and eating right.
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>> and i want to bring young people's bodies alive. >> reporter: wilson is football royalty, you know, chicago bears, '85, super bowl shuffle. >> we have so many great athletes, and we were just having so much fun. that was the best time in the world. we just had fun. it was like kids in the candy store. >> reporter: an interesting metaphor for a guy who's trying to reverse a staggering statistic. in chicago the percentage of obese children is two times the national average. this, according to the department of public health. >> the whole thing is to get them to understand if you're going go out there and play, whatever you play, you have to fuel the body. >> reporter: wilson says 7-year-old tabitha was barely able to run when she joined the program. and now -- >> it's fun and it gives me a good workout so when i go home i feel great. >> reporter: wilson teaches living well and leadership. >> that's something that we work on every day and that we enforce that because a lot of it -- it's
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unfortunate to say -- they don't get it at home, you know. they see what they see, and it's sometimes not good. every phase of their lives you have to make a difference. >> s >> sierra came here four years ago to move. what she got was so much more. this little girl learned about confidence. >> he showed toughness and determination. like if he wants to reach a goal, he will reach it and nobody will stop him. that's like my motivation. like when i'm playing sports and doing tests and stuff like that. >> you hear a lot of athletes say i'm not a role model. i whauns they're talking about because role models should be people in your household that you come in contact with every day. >> reporter: 300 kids come through here a year and wilson says he considers each one like one of my own. >> these are my babies right now. that's why i tell the young kids today, just because you don't see a whole lot in your community don't mean that that'

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