tv MONEY With Melissa Francis FOX Business April 3, 2013 5:00pm-6:00pm EDT
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last week claims rose 16,000. that was the sharpest increase of the year. watch out tomorrow. david: then on friday, of course we get the march report. that one could move the markets. mean while "money" with melissa francis is coming next. melissa: i'm melissa francis and here's "who made money today". u.s. homeowners. february home prices climbed the most in seven years! that is according to a new report from corelogic. they soared 10.2% from a year ago. pretty good. only four of the country's 100 largest metro areas did not see prices rise. also making money, investors going short on oil futures. oil saw its steepest one-day decline since november of last year. rising inventories and poor economic data fueled the selloff. crude settled down nearly 3% at 94.45 a barrel. you know who is not making money today? carnival cruises. the infamous triumph cruise
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ship broken loose from its moorings in an alabama shipyard. carnival said the triumph drift understood another cargo vessel and the ship's stern is damaged investors not looking timely on the news. carnival shares closed down 1.7%. even when they say it is a not it is always about money. melissa: we are starting tonight with president obama's new push for banks to make more mortgage loans to people with weaker credit. the president is hoping this will stimulate the economy but by just about all accounts the housing market actually seems to be recovering fine on its own. isn't this exactly the kind of lending that nearly sank our economy to begin with? here with more is steve moore, senior economics writer with the "wall street journal" we have real estate expert brendan "simone." thanks so both of you for joining us.
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steve were you shocked when you read this and you felt like it was groundhog's day and you went back in time? >> melissa, it wasn't just me. everyone who read the story and saw the story that the obama administration is going to loosen the underwriting standards again for the mortgages, this is just scratching their heads, saying what in the world is going on here? now i think there are two problems with this. one is obviously, everyone knows this is what caused the real estate bubble in 2008. you know, this is well-established and we would be repeating the same mistakes but the second problem is, what you just mentioned, melissa. that the housing market doesn't need an assist from washington right now. it is doing very well. it is doing, what, i think you just said the best in six or seven years. melissa: brendan, it is clear what they're trying to address here. you can see that, in, between 2007 and 2012, new home purchases for people with middle credit scores, like, 680 to 620 in that
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range, fell 90%. so obviously they're seeing this big part of the market not get in there and buy homes is. that because credit is too tight because owning a home isn't what it used to be? >> credit is loosening. people are getting loans even people bee loan 700. banks are loosening up. i sold my home in california and guyers got --. melissa: do you i think the government needs to get involved to encourage people? i don't think so. we have inventory buyer. there are lots of buyers preapproved and getting multiple offers in many parts of the country. melissa: steve do you hear that? do you think washington knows that. >> no. i have a question for you and for brendan because it totally mystifies me. where do you draw the loon loosening credit requirements to get the banks to make those loans and quote, proceedtory lending? remember, back five years ago the banks made, that gave loans to maybe people who were marginal were being accused of predatory, they faced all sorts of fines and penalties? melissa: that is true.
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brendan, is this predatory lending. that phrase reminds me of jumbo shrimp, people tricking you taking money off their hands. >> i don't think it exists. they're being tight and stringent and verifying income up to the last minute. people verifying loans are getting loans. melissa: what indemnity will they get? are they getting tricked here? they're everybody's favor whipping boy and government is saying make risky loans, if this bros up will they come back and call them predatory lenders? >> that is my sort of point. melissa, think about what it is like today to be a bank loan officer. on one hand if you deny someone a loan, you can be accused, you know discriminating against that person or red lining but then if you do make the loan, you can be accused of predatory lending and, the government keeps changing the rules here. melissa: yeah. >> my point, and one other point if i could, melissa.
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melissa: yeah. >> you can be sure that these loans will be insured by fannie mae and freddie mac or fha. melissa: you or me? >> who will be insuring these loans? uncle sam will. melissa: brendan, the bottom line here because this is show about telling people how they can possibly make money going forward. to me this means that the government is committed to getting people back into the housing market. >> that's a good point. melissa: so get the prices back up. maybe if i can't fight the government i should get in there and buy today. this means that the housing market they will inflate the housing market and push up prices. or does this mean another bubble and should i stay away? >> could be making of another bubble. there is limited inventory and it will work itself out in the long run. melissa: work itself out in the long run or is it going to burst? if you said beginning of another bubble maybe i should stay away. >> more sellers, more prices go up, more sellersenter the market and more inventory. >> real estate is protection against inflation if you think prices are going up. i'm just mystified by the
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attitude of the obama administration of saying look, we're going to provide these subsidies to these new loans, many would be highly risky. melissa: yeah. >> the word that popped into my mind when i heard this were subprime. melissa: no, absolutely. but i mean you can scratch your head and get mad at washington what they're doing and look at it see reality of it and try to figure out how to make money off it. >> that's right. melissa: that's all we can do at this point. thanks to both of you coming on. we appreciate your time. >> thanks, melissa. melissa: here is our "money" question of the day, is the white house setting us up for another house being market disaster? or maybe now is the time to buy. this got you guys fired up today. we had great conversations going on the facebook page. check it out. we want to hear too more of you. like us at facebook.co facebook.com/melissafrancisfox and follow me on twitter @melissaafrancis. tensions hii a new boiling point between north and south korea today.
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north korea blocking south korean workers from their jobs at jointly run say -- kay song industrial complex. it is considered a barometer for relations between the two countries. this is a my knowledge juror move by kim jong-un. he is hurting his own country choking off the economy. $2 billion of goods generated by the complex that employs 50,000 north koreaians. here with more is global consulting senior analyst and fox news contributor. lisa, thanks for coming on the show. >> pleasure. melissa: let's start with the money part of this because this is what it's all about. what is the financial impact of this on north korea? seems like he is shooting his own country in the foot? >> yeah, you took the word out of my mouth, shooting his own country of the foot. there is different effects what closing this industrial complex will have but mostly it will be on north korea. this complex brings in $2 billion for north korea every year. they have 50,000 people that are employed by these south
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korean companies. and, here's a little thing that most people don't know. south korea pays the north korean government directly. then they pay the people. some reports say they take up to 45% of the people's earnings. so the government is making money off of this. and let's be real. north korean government is already in shambles under sanctions, food shortages. two third of the 24 million people living in north korea experiencing food shortages. if you're already in this situation why would you put yourself in a situation where --. melissa: what is the answer? i mean is he trying to make a statement? is trying to be more hostile? why would he do isn't. >> he is absolutely trying to make a statement. this is symbolic statement. this is like the last cooperation between these two countries. he is trying to make a global statement saying look, my actions are just as harsh as my words are. i'm trying to establish myself. i'm trying to declare myself as a nuclear power. i want to play with the big boys. this is the way i'm going to act. in the past he has made,
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north korea has acted brazenly. his father and now he is doing the same. acted brazenly in order to get concessions in order to loosen sanctions to get food aid. it will not work if this is the way you're behaving toward south korea that helped them in the past and toward the u.s. and the global economy. melissa: watching this situation, it feels like it is really beginning to boil. every day we have a new story of the next thing that he has done. what do you think is coming in the future? and what does it mean for the economies of the region? >> right. so the very dangerous thing here is that the smallest provocation can turn into something much larger because of the u.s.'s vigilant attitude towards this, they're sending help over to south korea. south korea has been waiting for this for a long time. we have no reason to believe the north koreans are bluffing. in terms of the economy it is affecting, we can talk about it, from smaller to larger, the broader perspective. it will affect north korea, the people of north korea.
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it will affect their economy obviously. it will affect south korea they have to pull out the companies and their economy. it will affect china. they're obviously looking out for their best interests. i mean, from the u.s. perspective, this is a slap on the wrist here because they have been watering down sanctions. signatory to u.n. sanctions against north korea. they have been going around that. they have been trading with the north koreaians and create new opportunities for themselves should there be war they will fill in the gap or what's missing. melissa: absolutely. if you look at whole region especially including china it is a major economic driver of the world at a time when we need all we can get to have this global recovery sort of happen, to prop up the whole world. thanks for coming on the show, lisa. we appreciate it. something to watch. >> my pleasure. >> up next on "money"? can't get a job, sue your school. struggling law school graduates file class action lawsuits against their alma maters. the lawyer defending them is going to lay out their case.
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♪ . melissa: the law students making their case. the jock market for lawyers has been really dim but graduates are blaming prestigious schools for their unemployment. dozens of law grads joined class-action suits alleging that 18 law schools lured them in with fraudulent reports of their graduate success. with me now is the leading lawyer representing four of the california cases. welcome to the show, jr. i want to understand exactly what the claim is. what did the law schools say in these cases that were so misleading? >> thanks so much for having me on your show, melissa. first of all i want to make it clear our clients are not blaming the job market on these schools and they're not blaming their unemployment on these schools. melissa: okay. >> the problem with these cases is that what these
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schools did is they collected very detailed information about the job prospects and jobs that its graduates were getting for years. they're required to collect this detailed information including information on whether or not the jobs were part-time, full-time, temporary or jobs that required law degree or passing the bar at all. melissa: what did they do? did they misrepresent the data and what did they do? >> they had the data and didn't disclose it. on fox business you're here on markets and markets required information why they required by law to disclose that information? >> they're required under california consumer protection law to provide any material information that would make a difference in the consumer's choice. here whether or not the job you'd get after you graduate from law school is part time or full time or whether or not it is a job that would require a law degree or relate thed law at all is certainly material piece of information prospective
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students should have been given. melissa: just so our viewers know what they're talking about here, in 2005, they told people 97% of the graduates secured employment within nine months of graduation. and they didn't really specify what that employment was. when you drill down on the data and you looked at 2001 for example, they admitted 34.6% of graduates secured full-time long term jobs as lawyers within nine months. so that difference between 97% of people were working, and could have been working at mcdonald's or wal-mart or whatever, as opposed to 34% were really working as they had been trained, as lawyers. now let's, let's talk about how likely you are to be successful in these lawsuits. you know one of the lawyers representing the school said in a "new york times" article, michael sullivan, that the graduates made only limited searches. that there was someone for example, that didn't want to drive further than a certain distance. she didn't, or he didn't look for a job where they could have been a lawyer and
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made more money if only willing to drive further, a there was $60,000 job down the road. are those arguments valid and will they poke holes in your case? >> well, i'm not sure what case mike is talking about. in all the cases where i represent graduates of law schools, we haven't reached a point in discovery where he would even have the information. i think he is talking about a different case, not one of my cases the thomas jefferson case. going back to what you mentioned before in terms of disparity in the data, when you said 2001, you meant 2011. melissa: i did, pardon me. >> sure, no problem. the southwestern school, law school that we did sue, suddenly started to disclose real information and you're right, it is a huge disparity from 97% down to 30, 40% of graduates having real jobs. in terms of whether or not these graduates made a significant job search, you know our point is, the conduct that matters is the conduct of the schools. melissa: okay. >> if they had this information, why weren't they disclosing it?
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melissa: jr, what is the difference in that information we're looking on the screen? what is that worth to each student? is it worth their tuition? is it worth their lost wages? what do you think the value of being misled? obviously that is a big disparity what kind of employment we're talking about, i don't know, how much is that really worth? >> well, in these cases we're at an early stage in terms of the litigation and the discovery. once we have a better sense of the size of the classes and the real nature of the schools conduct we'll have a better sense what remedy makes sense. melissa: okay. >> we're not just looking for monetary relief. we want to make sure these schools reform their practices and audited by a third party that is neutral to make sure they're disclosing things. melissa: absolutely. this is big money issue. kids go into serious debt to get these degrees thinking they will make money on the other side that it is an investment to pay off. they need to know up front how likely it will pay off before they take on the
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debt. it is a big money issue. jr, thanks for being on the show. thank you very much. >> thank you very much. melissa: you heard the case made about the law school. we'll talk about how strong the likelihood of winning it. we have a former prosecutor and associate managing director at kroll advisors and solutions. welcome to the show. what do you think of that case? >> bringing case is brought good results. law schools are giving out more act a information. it is a tough case. it is not just about giving more information to students. was there intentional fraud? did they really mislead people by changing the data? melissa: well that is pretty clear, if they're saying, here's how likely you are to get a job in this field, making money after you come in and you pay for this product, i don't know, that seems pretty intentional to me? >> they were saying how many people in the previous classes gotten full-time employment after graduation. certainly that could be misleading if you think that means law school, law related jobs. melissa: some form of employment after nine months that could be mcdonald's.
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working to pay for food. >> right, exactly. the devil will be in the details what specific wording did they use when they told perspective law students this? is there intentional fraud there or say it would lead to employment and people thought it meant law-related jobs? it could be unethical. that doesn't mean it is a fraud. that is based on intentionally misleading data. melissa: i'm not a lawyer. i'm doing my best to go through all the details. i understand in the past these types of cases were more successful when you're talking about vocational school, technical school like culinary school. >> right. melissa: is it different when it comes to law schools? >> know, part of it is people going to the law school, what information they have and with a law school versus a trade school more of a feeling people know about the market. people can look into different details what will happen after graduation. melissa: why? >> because they have already gone through college. they already did a lot of law schools out there. they could shop around. there is a presumption in society that they're going to do a little more due diligence where they will end up going after law school. the downturn in the economy
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changed everyone's view point from perspective students to law schools. and now it is really sad. a lot of people across the board can't find jobs including law school graduates. melissa: that's true but there is really this huge bubble in law schools people are pouring into these schools, many more people going to law school than there are lawyers out there. this is particular field where we're seeing the problem crop up. bottom line, if you had to guess, i won't hold you to it, how likely do you think this will be successful? if it is will it start a real landslide? >> i think it will be successful reforming how schools get data. melissa: but the kids will not get money. >> i would not expect that to happen. melissa: really? no? >> unlikely. melissa: not even a settlement? >> all depends on wording they used to per speck tougher students. there was intentionally misleading data is wrong they have actionable suit to get money. melissa: jr will be sad. >> based on details in discovery. it is worth pursuing. melissa: thank you for coming on, dan.
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we appreciate your time. coming up on money, out with the old, in with the new. about.com names a new ceo. can it profit by answering people's questions? we put the ceo to the test in a fox business exclusive. plus the power of money isn't always a good thing. two huge scandals in new york and atlanta give public service an even worse reputation. former senator scott brown and former congressman dennis kucinich joins us on how to stop it. because you can have too much money believe it or not. ♪ . welcome to the new new york state.
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bought back in september for $300 million now he has his work cut out for him. can he make it one of the premier brands on the internet especially with the massive competition and evolution taking place? here now in a fox business exclusive. thank you for havin coming. >> thank you for having me. melissa: tell us about about.com. >> this is what about is about. people go on looking for information, 65 million people per month, you want to learn something or figure out how to do something, we are the resource for it. melissa: how do you get those answers and how do you know they are good? >> the content of about is our advantage. we have 900 guys who have been with us for 10 years. they are freelancers. they are really passionate experts on the 900 different topics.
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everything from baseball to gardening to laundry. melissa: what you pay people to go and write an article or write the answers? >> we pay people different things depending on how much you publish with us, what to cover. but what this is for our guys, this is often something supplemental to something they are expert in. teaching. different people make different things depending on what they cover. melissa: we look at the site, how do we know these things really work? and how do you trust them as somebody going on and using it? when you buy a recipe book, people who publish it test them. do you test these answers? >> there is a relatively rigorous process. we only accept about one out of every 100 guys. there will generally be experts in the field. melissa: how many people come to you and say you want to come and
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asked these questions. we put up the test, wanted to do a very practical one so the show staff sat and thought about getting ketchup out of a fabric. you had an eight step process, we bought this shirt and we smeared ketchup on the front of it. it came out. you had an eight step process. i won't go through the whole thing, but it worked. that was impressive. it also had a more practical question, how do you get a mortgage. there was an explanation, but it was a little dicey. for more than half of all real estate loans in the u.s. come from mortgage brokers, that is actually not true, it is more like 24%. that is key. so how do you adjust these things once they go up? >> we have an editorial team that works.
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with 3 million piece of content, not everything will be perfect, but generally we are pretty happy with what the things say and our record. we don't get a lot of complaints for accuracy and most of the things we do are lot more like a gardening tip or something like this and like that. we don't really have those kind of problems but we do editorial fact check. melissa: we spoke a couple of analysts who say it is a good business, you are profitable you get good traffic. it is not like google or a huge presence, how do you scale your business? how do you make yourself bigger? >> we are actually quite big. i think we're the 17th biggest site in the united states, but the challenge for us is to do a little refreshing of a boat.
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about has a huge opportunity in mobile, a big design process. the kind of content you need everywhere an in your generally going to share. melissa: are you going to try to get people to advertise this? >> yes. the really great thing about what we do at about, for an advertiser, people come to us with intent, we know what they want to do. it is really valuable to somebody like tide. we do a better job of conveying that to advertisers. not much different than like what facebook does. melissa: you have to figure out how to get bigger. >> yes, we could always have more people. melissa: thank you for coming on. coming up next, the dark side of the power of money. corruption and fraud scandal. we have former senator scott
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how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪
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melissa: it doesn't matter what time it is, "money" is always on the move. that by reducing the price of the ipad by 30%. preparing to release a new ipad has been swirling in this news could be made as true. you can see not moving too much after hours, although apple is moving higher. two huge stories dominating the news with a few things in common. money, scandal and the public trust. new york state senator charges bribery and more for trying to buy his way onto the ballot for new york city mayor and in atlanta 35 educators indicted in a broad conspiracy over cheating on standardized tests. the power of money may not always be a good thing. joining me now on how to stop all this, former republican senator scott brown and we have dennis kucinich, former democratic signature.
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both fox and computers. both of these stories erupted, and people said public servants, politicians come you always hear this kind of story about them and it leads to this image is bribery, scandal going on. does power corrupt, what is going on? or are we exaggerating it? what you think? >> many are dedicated to public service, but there are individuals in politics and individuals who try to take advantage of their position and gain for themselves more money, more power and without passing judgment on the guilt or innocence of anyone, we are seeing these reality plays playing out in new york and other places where people are determined to do anything they can to get ahead.
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melissa: would you agree with that? are most people in public service honest do-gooders, or does it attract a certain type% of personality with misplaced value? >> in every type of venture you have bad apples. we see it in sports and a coach was fired today, whether we see it in politics is not the power of money, it is the money of power. we have a probation scandal, housing scandal. melissa: why? >> i could go on and on. there are bad apples out there. if it is true and if in fact they are found guilty, the best way to handle it is to put them in jail. melissa: congressman, are there bad apples out there? public service and politics have more than its share of bad apples and that is what i'm getting at. is the problem that they are not paid enough?'s they don't make it in the
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private sector? >> people who go into public service are motivated for money and money alone, you should stay out of public service. those who do serve now there are laws that guide your conduct. i agree with the senator, frankly if somebody violates the laws, they should be fully punished. however we should keep in mind generally these represent a small number of individuals and a larger career of people who are dedicated. when it happens, when there is corruption in politics, it becomes big news, as it should be. people involved should be held accountable, no question about that. melissa: how do we stop this sort of thing or at least slow it down? look at what is alleged to have happened in atlanta with the teachers changing the test scores so they would score higher, and it said they received bonuses as a result of
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the kids doing better, so it seems like this was a group of people who did something directly for money. we don't know because they have just been arrested, but we have no idea what really happened, but if that is the case, what do you do? take away the financial incentive that caused this? that may be a good thing, that is how the private sector works. you get a bonus for results, that would seem like a good idea in this case. >> i have no problem offering incentives for people to do better and work harder. this gives a sense of automation certainly and obviously helps financially, but if in fact true like you said that only should they be fired, they need to talk to and review of the incentive program and they need to go to jail. we will see how the union comes down if they will step up and fight with the teachers or if they will say these teachers are wrong and side with by doing the
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right thing, that is so critically important in these cases. melissa: thanks to both of you for coming on, very interesting discussion. we appreciate it. up next, motley crue is back. the legendary rock band is taking vegas by storm. making money in music is harder than ever. what is ahead for the future of the business? vince neil of motley crue joins us. at the end of the day, it is all about music. ♪ ♪
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♪ melissa: listen up, rock fans. motley crue is back and this time more than just music. the band's lead singer vince neil is doing pretty well in the business world. the rocker turned entrepreneur has many businesses including a tattoo parlor, obviously. and a restaurant. plus a best-selling author and still playing on tour. here with us, rock 'n roll legend himself vince neil. thank you for coming on the show. i don't want to waste a minute. what is making you the most
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money right now? >> it is always going to be music. music will always be number one for me. we have been on tour pretty much constantly. people loving to buy t-shirts, we offer all kinds of really cool things. at the concert events. melissa: the merchandise, is the merchandise it where you make a lot of money? >> yeah, merchandises the big moneymaker on tour. melissa: a lot of people are doing that. is that a convenient way to tour or lucrative way to tour, why do you do that? >> the cool thing about it, with this economy and stuff come you have to give the fans more and bigger and better and things they haven't seen. when you travel around the country, run the world you are tearing things down every night and putting it back up, so when you are stationary like at a residency, you can do things that you can't do on the road.
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which makes it really cool because with things people have never seen before, you want to give them that. melissa: you have a tattoo parlor, a nightclub, and alcohol line that makes vodka, tequila and rome. why get into these businesses? why do these, in which one of these is making you the most money? >> i got involved in different businesses a long time ago. like the alcohol business i started with wine and then went to tequila and now doing tequila and vodka and rum. i like to do things i am interested in. obviously tattoos, nightclubs. melissa: and alcohol. >> the thing is, with the restaurant, people are always going to eat and drink. no matter what. so give them what they want.
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melissa: i think it is your nightclub in west palm beach county that government assistance because you are in a redevelopment zone? >> yeah. we put that street on the map downtown west palm. the mayor was out, we had 10,000 people in the middle of the street rocking out, including the city council. melissa: that is funny. what does the future of the music industry look like? getting back to your core business, how do pandora and others change things from your perspective? >> those kind of things are actually great for bands like us because we have been together for 32 years now. the younger fans are finding us, and coming to the concert and experiencing the live show. so we look out at our audience right now, little kids on their
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father's shoulders at their first concert, 10 and 12-year-olds, so it has become multigenerational. which is great for us. melissa: but it changes the revenue model for sure when you look at pandora. how do you adapt to that? >> it is not in record sales really for bands like us, it is all about touring. that is the whole thing. melissa: that explains it. well good luck to you, thank you for coming on the show, i'm sure the show will be great. >> thank you so much, you better come out and see us. melissa: absolutely. coming up on "money," when you want to steal something, you probably shouldn't blow it up first. why thieves used a massive bomb to blo steal a huge pile of cas?
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because they know you can never have too much "money." welcome to the new new york state. what's the "new" in the new new york? a new property tax cap... and the lowest middle class income tax rate in 60 years... and a billion dollars in tax breaks and incentives. new opportunities for business. over 250,000 new private sector jobs were created over the last two years. and 17 straight months of job growth. with the most private sector jobs ever. lower taxes, new incentives, new jobs, now that's news.
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first up, check this out, there's a video video of an atm machine exploding. there it is. these in england blew it up at a gas station. nobody was hurt, but don't you think they should have thought about the fact the money was inside before they blew it to smithereens? >> i am now physicists, i don't know what happened to the money, did it come bust? at least it is out, you got it. melissa: i don't see them getting away with a lot of it here. somebody's getting crushed by everything flying. it should have been vaporized. what do you think? >> the whole thing is a bit inelegant. it is a little bit embarrassing for the thieves.
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melissa: maybe they weren't really trying to get money, they were trying to blow up the gas station. moving on, have you heard of france 75% soccer tax? the president confirmed a huge tax on salaries more than a million euro applies to the soccer club. the football league is crying foul saying they will lose their best players while the government will lose their best taxpayers. >> before dennis goes nuts, i agree with you on this. i do. 75%, come on. not in euros, this is nuts. >> the new approach from a french president said we're going to throw out anything over 66%. he ended up saying individual
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millionaire will not have to pay it, the employer will have to pay it, so he soccer team will have to pay it. before simpler to cut the employees salary. >> soccer players travel. they will all go to england. they're all coming here and playing lame united states soccer. melissa: aren't soccer players pretty cute? here's another sports one. dallas mavericks owner mark cuban said he is considering drafting this girl. 6'8" all-american player. the ncaa leader in blocked shots. the second-leading scorer in women's college basketball. history. do you think she could make it? i love this.
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>> have to proceed carefully. mark cuban is the consummate showman. he knows how to get attention. this is aimed at more at getting attention than getting a great basketball player. >> what if she is awesome? >> more power to her if she can. so what. >> what is she is the next, i was going to say dr. jay. you don't know. >> she won't be. she will get her butt kicked. forget it, it is never going to happen. there is a women's basketball league for a reason, because they probably cannot play against the men. neither can i, but give me a break. it is not going to work. >> women of america, e-mail and let him know.
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melissa: now, adding sports agent to his resume. so far the new ventures off to a great start. the yankees robinson cano, do you think jay-z will be successful in sports like he was in the music industry and how many messages will i get? >> as the only yankees fan here, that is awesome. but the weird thing is jay-z wants to become an agent himself? that is what it says. >> jay-z is masterful leveraging the smallest slice of something. he has the berkeley center. now, here's a little bit index like he has a big part. melissa: that is all the "y"
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