>> government is a living organism. >> this is the problem with government. we know it. melissa: thank you guys so much. that is all the "money" that we have for you. here comes "the willis report." gerri: hello, everybody, i am gerri willis. tonight on "the willis report." >> the first fatal crash. the government set to decide the pilot should lead until either get it out of the cockpit. and car dealerships pushing consumers into a growing business and 80 year car loans. is that a good idea? it's not a picasso, but you can buy art on a budget. we are on the case next on "the willis report." gerri: all of that and more

coming up later in the show. first, our top story. a deadly crash with consequences for flights all across this country. four people have died in the missouri helicopter crash. this is back in 2000 women are heard you're seeing the pictures there. the national transportation safety board unanimously agreed the 34-year-old pilot was fatigued and worse. just minutes before the crash, the pilot sent and received many text messages. which the feds say contributed to the accident. is this a trend you should worry about? our pilots texting in the cockpit? peter, thank you for joining us. i appreciate your time today. this story is deeply concerning. let's think about this.

the pilot was allowed to do this. how common is this? >> we are not sure. but i think the ntsb took a look at this case and the texting was so egregious in the decision-making on the part of the pilot so inexplicable, they wanted to get out in front of it. gerri: yet there's a rule on the books already about this. you're supposed to have what they call a sterile cockpit. nothing to take away from the pilot concentration on what's in front of him. what is going on here? i can imagine there are cell phones and i cockpit, probably ipads, why is anyone paying attention to this? >> after this accident they will. this is the first time the ntsb has said that this contributed.

they had things called ipads that they used only in specific situations. in this case, he was simply texting to a friend and he got out of control and his poor decision-making cost lives. >> it was a woman, someone who is planning to have dinner with that night. and had some kind of relationship. here is what the company had to say about this. since the accident, we have instituted a zero-tolerance policy. we are prepared to work with the ntsb to ensure the safety of those. let's see what mike allen had to say. that is one of the things that comes to mind as we hear this

story. >> as he you pointed out, this is a carpet rule. frankly come you have to be pretty low to have these phones work. so this guy was texting at precisely the wrong time. gerri: wow. eighteen minutes before the crash he was texting. also the fact that he had not refuel the plane. he ran out of gas. how often does that happen? >> well, that is the inexplicable issue here. he knew that he was low on gas. before he left. there should've been some oversight to say, refuel before you leave. he had chosen an alternate site. but it was only 2 miles from the original airport where he was headed to. he simply made very poor

judgments. >> a lot of things the government does wrong, it seems to me this is one issue that they should be right on top of and taking care of. do you have confidence that we will see some kind of change in this? >> i have confidence in my old agency. they do a good job. they call the accident as they see them. sometimes causes a little bit of pain and agony, but they call them as they see them and that is the important part of the independent investigation. gerri: there is nothing worse than having four people dead in an accident it could've been avoided. thank you for coming on today. we appreciate your help on this difficult story. gerri: we would like to know what you think. here's our question tonight. should cell phones be banned in cockpit? laurents gerriwillis.com and vote on the right-hand side of the screen and i will share the results at the end of "the tonight show."

and not enough help are interested in sending up with diplomas for the federal government is spending more than $34 billion on the program. only a quarter graduate. who enrolled. this just blew me away. a covenant is a grant. the government gives you $5500 a year to get a degree in 25% of people don't graduate. they don't graduate in four years or six years. this seems crazy. what is wrong with this program? >> we are encouraging people to go to college, but we are not necessarily encouraging people to set a chance to meet specific things in colleges. a lot of people going to college, but not with any particular direction.

>> you are certainly closer to the age group that would actually be in school. why are we throwing all this money around with no results? >> well, what this says is that we should rearrange deck chairs on the titanic. because it refuses to address the underlying problem. which is tuition costs skyrocketing. tuition has risen 25%. if you look at any other industry, no one else has raised their salaries to their administrative and got away with it. we are gouging students and colleges and president obama and the government is saying you should get this education. gerri: the president has said that anyone who wants to get money for college yet. but this just shows that that doesn't work. spending has gone up

dramatically. the value of grants has tripled in the last 10 years. kids aren't even getting degrees. what is this program? is it advanced babysitting until the economy improves? i don't understand why we are throwing money at this program when it has such bad results. >> as a society, we want to encourage people to get education. >> braun was talking about this the last two years. let's go back to 1980 and you compare tuition from 1980 until now, and you look at a gallon of milk at that point, if it had risen at the same rate, we would now be paying $50 for a gallon of milk. gerri: $15 a gallon. that is just a sobering. they only go up, how do we get control over this?

>> used to be able to say you can make a million dollars more in your lifetime i by going to college but that has fallen. not only are we paying more, but we are getting less for it. the only way we can fix it is by trying to get the loans back to the private sector. i don't think anybody is going to get along to a student to go to college a college where they are going to get any specific skill. it's a two-pronged problem. one is making this huge loan bubble and being accountable to no one. gerri: that is absolutely right. numbers are going up, tuition prices are going up. students protesting are doubling rates rising july 1. >> the government should step in to prevent this.

but we have issues about someone all spending money. the universities themselves have the money. there are 350 colleges and universities in the united states right now that have over $100 million. likely asking why are we asking them to chip in some money to help some students to afford the tuition? gerri: 100 million? >> one of the using money to help finance some of the kids really need help. gerri: that is a great question. >> there are many people making profit off of the system. one is colleges, the not-for-profit colleges and the government. the government is getting a ton of revenue out of these loans and i can't understand what is more immoral. we are in a great deal of depression right now. only 30% of young professionals have jobs under 30 years old. three out of 10 have full-time jobs.

some others have part-time work. most of my generation is unemployed or underemployed. i have tried to make an effort of calling some friends in college i have ran into way too many that are unemployed including valedictorians and it is terribly sad. >> there is something we can do about this. i think we can encourage colleges and universities to invest more resources in their own students and in very tangible skills that would lead to jobs today. gerri: that is a discussion for another day. i truly appreciate it. you can find a way to do that, i encourage you to go right ahead. >> let's get congress to talk about it as well. >> another thing i want to put out there, the government makes 36 cents on every dollar that it lends in the student loan program. thank you for coming on tonight.

gerri: we have more to come this hour. including a new plan by the house in the go-ahead for the keystone pipeline. and imagine getting a new car and signing up for 97 month long car loan. @ [ male announcer ] in your lifetime,

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gerri: imagine taking out a car loan and paying it off in eight years. believe it or not, more are asking for some of the longest ones in history to push down their monthly car payment and things are promoting it. we have a senior analyst the joins us now. good to see you and thank you for coming on the show again. >> thank you for having me on.

i look at this story in the numbers, and i thought, people don't even usually have a car for eight years. so what is the point for financing it? it is ridiculous. >> i agree. in the fourth quarter of 2012, the average term for a new car finance rate was about 65 months on average. the highest we have ever seen. it really speaks to the fact that although the economy is generally recovering, if unemployment is still well below, there are a lot of people that are struggling. ultimately, they are looking to buy a new car, but they have to get their payment out. >> to me, this is crazy. if you have to spread out over eight years, it probably doesn't make sense to buy the car in the first place. i have to tell you that this feels like 2005 all over again to me. loosey-goosey money. whatever you have to say. doesn't it feel excessive to you

>> yes, it does. we are seeing people take longer loan terms. but what they really should be doing is maybe sizing down. it may be shopping for a compact or used car. with interest rates so low, we are talking about two and 3% for six-year terms. sometimes her a present for up to six terms, and they are just too much to pass up. >> they are not making any money on this at the end of the day either. this has to explain the incredible car sales that have been going on. but they have been making the money easier and easier to come by. you are from kelley kelley blue book, see what happens to the value of a car overtime. six years, eight years, how much of the value? >> even after five years, looking out 35 to 40%, depending on the vehicle.

you're talking 25, maybe 30%. right after they drive them off the lot, their argument is negative equity situations. or they could lose her job or something else happens, they will have a very hard time breaking that even. gerri: that is unbelievable. stretched over eight years, that is crazy. thank you for coming on, it's great to have you again. >> thank you so much. gerri: later in the show, cutting the cord on your cable box. in the house is sick of waiting for president obama to decide on keystone pipeline next. i will be joined by a lawmaker who wants to decide for us. at a dry cleaner,

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he won the house is to take the keystone decision away from the white house. we will have a guess that tells us why and how coming up in 60 seconds.

gerri: since president obama keeps dragging his feet on the keystone pipeline come in the house is taking matters into their own hands. they are holding a hearing tomorrow on a new bipartisan bill approving the pipeline. with more on this, fred upton of michigan. he is chairman of the house energy and commerce committee. great to have you on the show. >> it is for there to be with you. >> what is new about this bill? i have seen bills on this topic. what is different this time? >> how long do we have to wait? we remember the administrations

hold us that all the information was there. then it was 2012. now we are into april of 2013 and we don't know when it's going to be. the first hearing is tomorrow. we're actually going to approve this next week, bipartisan vote, we are going to get a bipartisan vote, get this committee ready for the house lawyer probably next month. but what it does is sets the scene and has the same setup in stage is what was on the alaskan pipeline was built. in other words, let's get it done. gerri: it clears away some small things. rights-of-way, approval from other departments, taking everything into consideration except the fact that the obama administration does not like this.

>> we are going to have a couple of things. first of all, on the senate floor a couple weeks ago, 62 senators, one third of them democrats, voted for a keystone bill. there was another amendment that was offered by barbara boxer. her amendment would have derailed much of this. it was significantly defeated. we will have this bill up next weekend. my guess is it is probably two to one positive. then we will get it to the house floor and figure out a way to get it in the senate. gerri: let's talk why it might be appealing to both sides of the aisle. $7 million. we are talking about jobs, additional energy for this country. i don't know about you, but if you can give me a plan to get us off of foreign energy, i am all

for it. >> we want a north american energy independence plan. if you look at the unrest in north korea and the middle east, you will see elections coming up in venezuela, gas prices are double what they were when this president came into office. canada is our friend and best neighbor. we are to accept a million and a half barrels a day. they want to produce 6 million barrels by 2030. we are going to build this new pipeline. overwhelmingly, passed house and senate, all of the pipeline standards for any new pipeline. these cost about $4 million, thousands of jobs. gerri: environmentalists are still raising holy heck about this. are they going to be happy? >> well, give me their best

argument. gerri: you have for them. >> the president said a year ago that he would do whatever it takes to create new jobs. 20,000 direct jobs. we have seen so many spend billions of dollars expanding their capacity, we are a nation that uses about 17 or 18 million barrels of oil per day. we produced a benign and half million barrels a day. canada is producing as many as well. >> it is more stable product benefit goes to china.

congresman griffin thank you for coming on tonight, it is so good to have you coming up next, we will soon be able to tell your cable company to take a hike. we will take a look at the new trend of cutting the cord. stay with us next.

>> from our fox business studios, here again is gerri willis. gerri: gerri: google fiber. they announced today that they will be the third city to receive this ultrafast internet service. senior writer joins us now. what does google have that nobody else does? >> they have a network that is 10 times faster than the fastest network the comcast offers

today. it is actually not here yet. gerri: the. gerri: people are finding this very exciting. let's look at some of what they are doing here. google in kansas city, free internet, a one-time 300-dollar fee. will this be pricing on what people are paying right now? >> we are pricing vary wildly across markets. but for the most part, google is offering more megabits for less. less than at&t, comcast, everyone knows. when you start adding in tv, it

gets a little bit dicey. if you can get a gigabit, why wouldn't you? gerri: exactly. wall street is not so optimistic. they say google will have to spend something like $11 billion a year for five years. what were they really want to get out of this? >> i think google started this because the isps were not innovative. they were not offering fast enough services. if you think about google, the own things like youtube, which requires a lot of bandwidth. and they have a really big interest in speaking out. >> i don't know if if google really intends to build back. >> ultimately, you know, what is their goal? >> well, if the goal is to get

the incumbents worried, i think they might have already done something. at&t actually said they were going to do this here in austin. the details are still yet to be determined, but that is a strong statement. gerri: a lot of promises out there for consumers. what was the reaction in austin? >> we are so excited. i live here, i am a technology blogger. gerri: what a great county living. thank you for coming on tonight, take the. >> thank you. we are going to stay on the same topic. more households are saying goodbye to their tvs altogether. in 2007 there were 2 million without a tv set, that number has grown to 5 million. were they watching tv? richard snyder, founder of online retailer joins me right now. thank you for coming on.

you have a phrase, zero td. what does that mean? >> the average person only watch as 10 to 12 channels and people realize that there is value here. the average cable bill has gone up three to five times the rate of inflation and that is just not sustainable. >> i hear this all the time for my friends and family. >> we are not giving them from a legacy tv provider, but a lot of folks are getting content through online streaming services and then they are supplementing it with an over the air antenna and getting free local television and people are turning onto the fact that they can get, you know, 100 channels

in los angeles and 70 channels in new york and people are questioning why am i paying $200 a month when i could replicate that service or a 10th of the price. >> i want to throw this out there. and people aggregating their services. you brought the thing up about the antenna and the tv. there's a company in new york that has this company in brooklyn. >> we have heard a lot about it. i am not an expert in this, but i do know television antennas. they claim that they can get millimeters off of antennas, making them smaller.

the concept of leasing antennas is going to build scrutiny. gerri: i had the application on my ipod and i love to use it. the company that owns our network, you think that they can survive? do you think that they will say that we own our conduct and we are not sharing with you? >> they are preying on the ignorance of consumers. 80% of the population doesn't even know they can get free digital tv with an antenna. they are implying that the only way to get over this is a bunch of malarkey. antennas have gotten smaller and powerful. >> your company is essentially doing the same thing with a little bit different technology. >> we are providing antennas and we are not charging a monthly

fee. we are allowing people to get up to 50 channels. gerri: why do these networks broadcast over the air to begin with? >> they have the ability to penetrate into areas that are not serviced through satellite or cable. they can get the content out much farther. stations can sometimes put out as many as 10 channels each and those are not necessarily from a pay-tv provider. gerri: that's an interesting topic. these are the same people that don't have telephones in a the house. thank you for coming on tonight. thank you for telling us about these business models. all right, how to start an art collection without breaking the bank and president obama has managed to make everybody mad with a budget proposal. serious over entitlement cuts.

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real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospecs with investment information, risks, fees and expenses to read and consider carefully before investing. gerri: liberal lawmakers demanding president obama changes mind on cuts. those cuts are part of the budget that obama will release tomorrow. >> it is only 65 days, they are demonstrating this is pure

political theater. the democrats have arranged for a demonstration over $130 billion in cuts over a decade, primarily social security. that is nothing. it is utterly nothing. and it's the wrong program. if you're going to cut a program, cut medicare because their are $200 billion a year. who is this guy becoming? is becoming a caricature of himself. he doesn't worry about people who are unemployed. he focuses on social security instead of medicare. he could make a significant dent. we are talking $2 trillion if he would just eliminate waste from medicare alone. gerri: i love it when you come on the show fired up.

this is a political document. we are not talking about real numbers here. >> he didn't care enough to send the very best. [laughter] sixty-five days late. he basically says, the heck with everybody. he is not going to follow tradition. we are not going to have the regular rules of order in the house and senate, despite the leadership of both of those houses. meanwhile, sitting there in the white house, the senate majority leader's office, or in the house speaker's office to say, let's just get rid of the low hanging fruit and be responsible and concerned citizens. you don't even have to be a big shot. gerri: it is too high of

$800 billion in new taxes. >> i think he is very close, he is running this close to irrelevancy and he is going to be very quickly a lame-duck president. the more he continues these silly games, he doesn't want to be honest about the security of the border and gun control. he doesn't use the word gun control any longer because he knows that he is crush on the issue. his nonsense just didn't work. it brings 11 families down to washington. everything is again, everything is theater, everything is just, frankly, not working for this president. gerri: with the issue of guns,

they call it gun safety. >> yes, like they are all working for the national rifle association. the president is talking about stocks. >> on the show tonight we are going to talk about what is going on in north korea and we are bringing in fox military analyst general jack keane to give an analysis of the situation what we will see happen. we will be talking with congressman greg walden and he is the head of the national republican committee, leading the republican campaign efforts. for some reason he has time to do his job as well. unlike some other soaps. i'm not mentioning names on it. and faith jenkins will be with us as well. a lot of things are happening

and some surprising developments there. >> it is good. gerri: thank you. coming up next, it was on this business day back in 1967. america's new jet, the boeing 737 to cover its first flight. by 1987, it was known as the best selling commercial debt in history. think about this, with with two departing and landing somewhere every five seconds. boeing didn't stop there. today the company announced it is expanding in south carolina. the company is investing $1 billion and plans to create 2000 jobs over the next eight

years. but it was the boeing 737 that started it all today, april 9, 46 years ago. still to come, my "two cents more" on banks branching out. and you don't have to be a multi-millionaire to have an impressive collection. we will have that next.

gerri: art collections to start for the rich and famous. how to build a stellar collection of art regardless of your budget. details in two minutes.

gerri: beautiful and exotic collections of oregon just for the rich. joining me now is our advisor, kristi crawford, and the founder of big deal arts and advisories. this is a great topic and i'm really curious about myself. would he tell first-timers who are trying to buy? >> i tell people to start out slow. by small pieces, because you're going to learn a lot as you go. you don't want to spend your entire budget at once. >> you guys say by what you love. i love the brown van. it's not happening. is that right? >> well, maybe not right now. but it is something that is within your budget. find what you love as it speaks to you. you can see it hanging on the wall every day. a great piece of art can be $500, it can be $50.

gerri: can you buy one artist or person and follow them? >> you can. i have a varied collection myself. so i buy to educate myself and i do that because i love them. it is better to have an interest in go with that. gerri: what am i talking about get started? >> there are a lot of places that you can start. my pick is always going to art school, there is a lot of emerging art there. >> they have open studios under great places to. gerri: what did you learn in that job that you bring what you are doing now? >> i made a lot of great

relationships dying art. investing in it is very tricky. it's not liquid, it's transparent. it doesn't have to be expensive to build a great collection. gerri: is it possible to find art that are the works that are actually going to appreciate in value? >> well, the most valuable piece in my collection i purchased at an auction several years ago. i bought it for a little under $100,000 in notes were $60,000. if the photograph by a well-known photographer who in the last two years has become one of the top photographers. gerri: photography is very popular. i said i'm interested in pencil drawings because you can really see the artist at work. what other areas do you

recommend to look at? >> i recommend photography. you will be able to have the best photography collection are the best in by a certain artist as you are educating yourself. gerri: we have seen prices go through the roof. it is amazing how exciting this has become. you find it that people are really energized? >> you can buy art and really see the value go up. but i don't think you should be buying it off thinking that it will be an investment later on. you never really know the trajectory of artists. some artwork could be very valuable and then some pieces, maybe your favorite work of art. gerri: is there an interesting trend? >> art online is a great resource right now. there are a lot of valuable

resources. art store.com. it is grey tabby on the show tonight.gerri: thank you, it iso have you on the show. we will be right back

thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.

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. ♪ gerri: the ntsb said taxing behind a the pilot of a helicopter contributed to a crash. should it be banned from the cockpits? here is what you are posting. gerri: i think we all agree. 70 percent said yes and 30 percent said no.

interesting. remember when the banks would reward your membership with toasters? now with more than half of americans banking online banks are so desperate to get you into the brick and mortar office, net one bridges opening a library and a credit union in rhode island you can find all about the committee with a history museum. in connecticut one offers financial workshops in in new york one has regular raffles. what about free food? there is a gourmet buffet for the customers but the bank that it takes the cake in oregon has octoberfest beer events, yoga class is is, ice-cream trucks and a children's theater performances. what you just put some of that money into my account to give me a