tv The Willis Report FOX Business April 27, 2013 5:00am-6:01am EDT
5:00 am
lou: go to loudobbs.com. you can get links directly to the purchase of the book, have a gr gerri: hello, everybody, i'm gerri willis. tonight, on "the willis report," another government program gone bust. bailedded out homeowners redefaulting at an alarming rate. also, your under electronic assault. how do you organize your life in the digital age? the ceo of evernote is here to show us. it's almost barbecue season. we go to the road for the best advice on the hottest grills. we're on the case tonight on "the willis report." our top story tonight, the
5:01 am
government mortgage fix is this a fix. the federal home affordable modification program, you know it, it's called hamp, sees modified mortgages redefaulting, faulting again at a troubling rate according to a new watchdog report, and the treasury department cannot tell us why. the executive editor at housing wire. jake, great to have you with us. your website is just awesome, great stuff on housing. this story, i have to tell you, deeply troubled me today. what's going on here? >> well, that's the issue, we don't know. the treasury is not telling us, but we know the government, and yet people redefault, and we are not sure why. gerri: thisgovernment program was put together with the idea in mind of helping people stay in their homes, and the basic idea is they would extend the
5:02 am
length of the mortgages or drop the interest rate, and, yet, we're seeing huge numbers of people still not able to pay. what's that tell you about what's going on out there? >> well, it basically tells me it's not working, and we've been telling the government via our website that it's not been working for awhile. this program started back in the late 2009, the numbers in the report are from 2009 and 2010, and then, you know, once the original numbers came out, we then went to hud secretary donovan, had a conversation with him, saying, ook, some in the market predict default on this program can go as high as 75%. that's three out of four of modifications will -- gerri: up believable. >> he was incredulous, early in the game, understandable, but in 2010, donovan told my reporters that, no, it will gefer get that
5:03 am
high. now thecig t.a.r.p. numbers are out, the government agency you mentioned, and they push past 50% from that time. gerri: we may think there's no way to understand what's going on, but, look, if this program is unsuccessful in helping people, then maybe what we need is a rethink of the program, maybe we need to end the program. >> well, that's absolutely a good point because what we're facing now, gerri, is that the program -- the treasurely will stop taking applications for the hamp at the end of the year, but that's only if it's not extended. a lot of the other t.a.r.p. -- >> go ahead, jacob, go ahead. >> a lot of the other t.a.r.p. housing programs have been extended as well, and so there is a big channce the program wil not end at the coined date so what cig t.a.r.p. says in this report is that, you know, there's still time to fix this thing.
5:04 am
gerri: how much time do they want? look, the market's already in recoveryt the end of the day, look, this was to help 3 million to 4 million people, 2 million people were in the program, and at the end of the day, we see so many of the folks having problems. there's 3 million right there, 4 million, 2million modifications started, 50% canceled. this is an inspector general report we are talking about, looking over the shoulder of government saying, hey, this is not working. i guess, you know, what gets to me jacob, is these are our taxpayer dollars r and it seems we are wasting them despite the fact what we use them for we know doesn't work. should the government back out of the programs? >> well, absolutely, look for app exit strategy when something as greatly as hamp is. the report mentioned that the
5:05 am
point of -- the entire point of having an inspector general is to ensure the taxpayer money is not wasted. what we are seeing happening is that when one of the mortgage modifications default, what happens is the servicers who are paid a fee for modifying it just modify it again so they end up just turning these poor borrers in a hamp blender that just doesn't ever stop, and there's a lot of other funded programs you can use. there's cash for keys if they need a grateful exit strategy, and they are not used, and the treasury is not saying why they are not used to a much further degree. the money's there. congress has given t.a.r.p. the money. we know tis, and the money has to be well spent, and this report, gerri, is that this money is not well spent.
5:06 am
gerri: the hamp bleepedder, jay cor, you're awesome. thanks for the help explaning it there. i think people got it. if you didn't, you certainly got it there. thank you for your help. >> thank you very much. gerri: the fda says it's almost powerless to protect us from dangerous drugs produced from what they call compounding pharmacies. we talked about this. this may change soon. a new bipartisan senate bill gives the food and drug administration control over certain compounding pharmacies. here to weigh in, grace marie turner, thanks for coming in. it is great to have you here, and just to remind people, late last year, 50 people died, 700 people were made sick by drugs that came out of one of these compounding pharmacies. it was a huge scandal, and now, today, congress coming up with legislatn, it's only getting started to fix this problem.
5:07 am
do you think congress is goingfn the table? >> i do because they are particularly targeting these large manufacturing facilities, but are really masker raiding the pharmacies. they are legitimate pharmacies that take a medication to fit it to a prescription from a doctor. somebody's alermingic to a ingredient or need another form, but what this facility in massachusetts had done was produce on a large scale a sterile injectable drug and sell it across state lines, they were a pharmaceutical manufacturing facility,not an individual specialty compounding pharmacy. gerri: exactly. well, the problem is they are not the only ones with the
5:08 am
problem. subsequent research shows problems that compounding pharmacies all over the country, all doing this, many of them have problems. the states are to be watching. they are not watching. we showed you there's 3,000 of these natinwide. here's something the office put out. on average, states employee just five inspectors with responsibility to inspect all pharmacies, and there are thousands of these. are you confident that we can fix this problem? do you think that congress will really -- i mean, face it, congress has a dismal record with fixing problems. do you think they can fix this? >> well, if they start by targeting these very large manufacturing facilities that are not regulated now by the fda, and as you say, the states don't have the manpower to really regulate or do oversht, the fda recently went to 30 of the facilities, and it found problems in many of them.
5:09 am
people with torn gloves, clean rooms that were not really clean. when you go to an fda regulating facility, they are amazing, these sterile environments, and these people, because they call themselves "compounders," get around this and are not regulated by the fda nd states don't have the resources to do is, so the fda needs resources to add this to its list of pharmacies they look at. gerri: i'm not in favor of the federal government expanding, but you have to regulate facilities. fifty people died in depth because of this, 700 people fighting this still in some cases. another phak here to explain to the viewers what the problems are here. 22 state boards of harmacies do not keep any historical inspection records, so not only do they have no inspectors, they don't keep records, and you don't have to have a license, really, to do this, so it, you
5:10 am
know, the lack of oversight is astonishing, and we eally paid the price. last word here, grace marie? >> they do need to be licensed by the state, but the federal government, that's what the fda does is regulate the manufacturerring of large batches of parmaceutical. this is a job for the fda and the states to then focus op smaller pharmacies that have been within their jurisdiction. gerri: thank you for coming on, great to see you, and thank you for the help. appreciate it. >> thank you. gerri: a lot more coming up, just starting including the best gas grills for your money. you don't want to miss that. it's a ton of fun. ceo of one of my favorite apps. i can't wait for you to meet him, changed the way i organize myself. ay with us. ay with us. ♪
5:11 am
the ocean gets warmer. the peruvian anchovy harvest suffers. it raises the price of fishmeal, cattle feed and beef. bny mellon turns insights like these into powerful investment strategies. for a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people
5:12 am
start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. [ beeping ] ♪ [ male aouncer ] we don't just certify our pre-owned vehicles. we inspect, analyze and recondition each one, until it's nothing short of a genuine certified pre-owned... mercedes-benz for the next new owner. ♪ hurry in to your authorized mercedes-benz dealer for 1.99% financing during our certified pre-owned sales event through april 30th. but with advair, i'm breathing better. so now i can help make this a great block party. ♪ [ male announce ] advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory
5:13 am
and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not bused more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may incrse your risk of osteoporosis some eye prlems. tell your doctor if you have a heart condition or high blood pressure before taking advair. ask your doctor if including advair could help improve your lung function. [ male announcer ] advair diskus fluticasone propionate and salmeterol inhalation powder. geyour first prescription free and save on refills at advaircopd.com.
5:14 am
gerri: we have a fox business alert for you now. daily deals site, livingsocial, has been hacked. the massive cyber attack hitting 50 million users worldwide. the formation accessed includes names, -mail addresses, birthdays, and encrypted passwords. unbelievable. the company is e-mails customers affected telling users to reset their passwords, the credit card and other financial information was not accessed in the attack, even so, i would change the password right now if you have not already. on to another technical issue. each and every day, we're constantly hit with information from the schedule for your kids' play dates, landscrapers' phone numbers, spreadsheets for work seeming impossible to make sense of the blizzard of information. today, i hit the streets of new york to ask people if they often feel overwhelmed. here's what they told me. >> well, i'm in i.t. so that's my job; right?
5:15 am
so i'm not -- i'm perpetchewablely overrealmed. that's how it is. you cope with it. >> there's a lot of things i'm overwhelmedded about. >> tell me. >> home, job, world, children, money. >> how do you guys organize all of this stuff? >> well, there's a thing called yellow note sticky pad -- [laughter] do you remember those? do you know what those re? i write on those. >> i try to use all these wonderful tools you have these days to help my life, like my phone. i use icount all the time for little reminders here and there. gerri: technology is changing the way people control their hectic lives. how do you organize everything? the next guest, very popular app helps you to do that. evernote, phil, thank you so much for coming on this show, very excited to have you here
5:16 am
>> thank you, gerri. gerri: it's a way of life, and those into it are really into it. give us the 101 on evernote. >> well, we built it to be your second brain, basically something to help you cope with the flood of information that's coming at you, your home life and personal life, lets you be productive thout having to do too much other stuff. gerri: sometimes it's my first brain too, not just the second brain, but the first brain. what you do, you take notes in it, take pictures. recently, i was having furniture we done, took pictures of the furniture to take to the apologister. do anything you want to there. record voice reminders, on and on. how many people are doing this now? >> morthan 50 million. in fact, we're coming up on 60 million pretty soon. we've been really pleased at how well it's been adopted because, you know, unlike almost every other popular app right now, it's not social. in fact, it's the antedote to
5:17 am
everything else being social. it's not for your friends. it's just for you to get your own life in order, but with that, we grow quickly. gerri: it's interesting. you said somhing about facebook about how it's the face you show other people, and everte is the face for yourself to remembereverything. take notes in it, organize it with tags. that's the real lifesaver because you tag every note from phone numbers to news stories, and, later, it's easy to find. now, there's a whole world that's grown up around evernote. there's books. i read a book to learn how to use it. are you shocked at how this thing's taken off? >> well, on the one hand, not shocked at all because it basically exactly what we told investors in the business plan came to pass, on the other hand, i am shocked it came true. projections happened to be right, and surprised as anyone. gerri: you are honest, shocking.
5:18 am
tell me how would that be different from my personal evernote. how do youse it differently? >> two-thirds of the existing users were using evernote at work. everynote is for the modern worker, someone who is always thinking about wok stuff but always thinking about family stuff and personal stuff and we made evernote business so companies could use it efficiently to make empoyees productive and happier. we try to have the same experience, except something that you can apply to your team, to your work groups, collaborate better, use it with the employees, make the company smarter. gerri: brilliant insit is everything in the life overlaps; right? you're always doing things that are personal, that are part of the business. it all comes together. you can't really searate them out, and evernote helps you do that. as you look forward, where do you see evernote gong from here? >> well, the real idea is to
5:19 am
push it, work, life, integration. theyried to work, life, balance, but that's an old idea. happy and roductive comes in being able to do everything integrated, together, using it for the personal life and work life and being better in both. we're pushingon this idea of work life integration adding features that give you ways to use it productively at the office and all perm -- personal activities. >> what i'm concerned about, and i know the viewers are too, i all the hacking that's going on and all the information that is stolen. here, there's a business model where information could compromised in some way. what do you think of it? >> it's important. everything going on now with security is important to pay attention to. what you said before the segment was right. people should not be reusi the password on multiple sites. it's important. i'm an optimist.
5:20 am
i think it gets belter quickly because i think everyone in the industry is waking up in the new reality of thing, and a lot of companies are working to the behind the scenes to make the security aspect better, but even more important than the security and hacking is the priacy access. it's what the company do with the information. here i think we have great position. everything on evernote is private. it's not ours. we don't look at it. we don't data mine it. we don't sell it to advertisers. everythi is yours. gerri: love to hear that. one more question for you. i'm being wrapped here, but one other thing. how important is it that users contribute to evernote's evolution? >> oh, it's super important. we built it for us, sometng that we could use ourselves, and the definition of who we are in a company grows to encompass all the biggest supporters. we get tons of feedback from people, and it sets the product directio
5:21 am
if any of the viewers have direct complaintsbout how to make it better, i want to hear about them. gerri: well, a pleasure to meet you, and thank you for such a great app. love it. >> thank you so much. gerri: serious, i use that app. all right, what do you think? here's the question tonight. do you feel overwhelmed with information on the daily basis? log on, vote on the right-hand side of the screen, and i'll share results at the end of tonight's show. another fox business alert. h&r block is sorry for the recent tax filing snafu. you remember the biggest tax bon 600,000 tarks returns. remember that? delayed refunds for those claiming education credits. to make up for it, the company offers $25 gift cards to all those affected. the company says the refund accounting for process delays and thanks customers for the patients. they may have had in patience. it did not say how many people
5:22 am
receive the gift cards. coming up, new economic numbers out, go beyond the headlines to ask are we already in another recession, and later in the show, we go in fashion. we sit down with a woman who invented the nail polish craze and became an more than icon in the process. stay with us. stay with us. ♪ the capital one cash rewards card gives you 1% cash back on all purchases, plus a0% annual bonus. and everyone but her... no. no! no. ...likes 50% more cash. but i don't give up easy... do you want 50% more cash? yes! yes?! ♪ [ male announcer ] the capital one cash rewards card
5:23 am
gives you 1% cash back on every purchase, plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. ♪ what's in your wallet? why? and we've hit the why phase... omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male nouncer ] yes, you could business pro. yes, you could. go national. go like a pro. ...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...
5:24 am
5:26 am
rest of the year it's worse than expected. joining me, university of maryland professor, peter. professor, i got to tellyou, i can't believe we're still at 2.5%. this was really disappointing. what do you think of the numbers? >> well, the numbers are much worse than 2.5. that was just inventory adjustment. in terms of sustainable demand, it's growing less than 2.5% year, most expect less than 2% in the second quarter, some estimates as low as one. gerri: the unemployment problem, growth below 2.5%, for sure. i re the note this morning, saying about how jauar and february were decent, but by the time we got to march, boy, it deteriorates. why? >> well, in january, we had all the bonuses paid at the end of the year to beat the higher taxes so people spent them, but when we got into february and march, the higher payroll tax started to affect consumer
5:27 am
behavior. that doesn't happen immediately. people start to put gas in the cars and feed their kids, but they realign the budgets, less take home pay, 160 billion tax increase. you know, mr. obama likes to blame sequester for the problems, but there's $160 billion increase, more than 1 mcof gdp. that's a big impact. gerri: peter, do you think that businesses are still in that mote where they are reluctant to spend? we talked about that at the end of the yearings but i don't see a lot of comfort in what's going op, i don't see a lot of confidence from business leaders. what do you think? >> well, they are frustrated. certainly, the data indicates they don't have confidence, and business spending was not robust, and it was subdued, you know, on new capital equipment, and they complained to deaf ears about the more onerous
5:28 am
legislations by the administration. around town, there's lawyers working in the government all their lives saying they are tired to hear business mep wine. that comes with having a nice steady government paycheck. gear gerri willis you're not kidding. isn't that part of the problem, fundamentally? congress in particular, and the white house specifically have such a lose understanding, they really don't understand what makes it tick and go. >> in congress, people ran businesses, and they do have some understanding in the senate and house, but the administration, i mean, it's populated by people who hardly ever earned an honest nickel in the private sector. i mean, when did barack obama do anything in the private sector? he didn't. that's a problem. there's a big difference. forget obama against the two bushes. what about obama against clinton? mr. clinton understood that national power, national
5:29 am
prosperity began with the private sector. mr. obama, his whole world view is more government, more regulation, that's how jobs are created, the french model. gerri: the french model, works, oh so well, my friend. >> yes. gerri: thanks for coming on, have a great friday and weekend. >> you too, take care. gerri: well, time for stories trending on foxbusiness.com. tonight, that weak gdp report weighs on the marke today, dow up 111 points today. the s&p 500 snapped a five-day winning streak. consumers less optimistic about the overall economy, no surprise there. the university of michigan consumer senment index down to a three month low. about the only things keeping spending up now, rising home values, and the recent highs in the stock market. relief for air travelers on the way. hallelujah; right? passing a bill to get air traffic controllers back to work giving the faa power to shift
5:30 am
money around and pay furloughed workers. americans spend six hours a day on social media, more than any other country in the world according to a new report fr the credit reporting company who knows because they look over our shoulders, and those are some of the stories rending tonight on foxbusiness.com. coming up later in the show, the fight over permanent alimony. is it finally ending? just in time for barbecue season, we test grills with consumer reports. you want to see. that we'll be right back. ♪ we went out and asked people a simple question: 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
5:33 am
5:34 am
this spring ending permanent alimony. now, the overhaul caps the amount making it easier to terminate payments upon retirement. joining me now, fox news anayst and celebrity divorce lawyer, the founding partner of kesler and -- randy, you say that for me. he's in atlanta. i will start with you, randy. >> all right. gerri: what doou think of the law? go over the basics. it eds perm b innocent alimony and caps awards. what's the other important features of the bill as you see it? >> well, first of all, it's hard to analyze it in a quick sound bite because it's a controversial bill with a lot of moving parts, but it's a law to say, judges, you can't award a much alimony as you did in the past. men are stuck with alimony suffering, you know, children are the first victims, dependent spouses the second, but wage
5:35 am
earners who can't afford to pay are victims. gerri: child support is not a part of it. child support is not affected by this. >> right. >> what it does is give the judges more lee way because it says that if you is a short term marriage, and in florida they cat categorize that with below 11 years, you're not oblgated to pay alimony forever, ever, and ever. massachusetts has the low characterizing short term marriages as five years working well in massachusetts, don't you think? >> well, i don't know that it's worked that well. what i don't like is the presumption. when you walk in court, everybody should be equal. the law says there's a presumption. if it's a short term marriage, there should be no alimony. the judge doesn't know the situation until they walk in. gerri: well, it's not -- >> it's not no alimony, but caps it off at a certain number, percentage point, that's all. >> well -- gerri: hang on a second, guys. we're stuck in the weeds.
5:36 am
the basics, we don't have to stick with a law. should a personal financial obligations to their spouse end when the marriage does? randy, to you first. >> no. you know, there's thousands of situations and thousands of couples, and every situation's different. sometimes, that's it. what if they spent e marital money, but the rich spouse earns $200,000 a year and poor spouse earns nothing. if the way to even it up is pay alimony, in this case, it's not bad. >> i don't disagree with that at all, shouldn't end with the marriage. maybe the wife stays home, the husband stays home, supports the kids, that's the agreement they have so they should be supported, but forever and ever? that's what we say here is maybe it's not forever and ever, maybe there's a cutoff point depending on the years of the marriage. it just is giving the judge a little bit more leeway in this. gerri: well i, i think you both support that. is alimony outdated is that whole idea, many women earn more
5:37 am
than the husbands now, may it have seen its best days already? >> i think it's been on the way out for a long time. lifetime alimony going away, but women pay it too. it depends on the facts of the case. what if one couple, one side i'm not going to work, raise the kids, you get the career. the marriage ends. the other is years behind. catch up. lifetime permanent alimony should go, but rehabilitative alimony is important. >> we agree. gerri: thanks come coming on. it's an interesting uestion, the whole ideaof alimony and whether it should be paid out. - don't think we have the chance to put up this information, 8.2 billion in alimony paid in 2011. look at that. that's a lot of dough, my friends. appreciate your time. all right. up next, summer's not too far away.
5:38 am
we'll look at the best grills on the market after the break. stay with u. ♪ [ male announcer ] what?! investors could lose tens of thousands of dollars in hidden fees on their 401(k)s?! go to e-trade and roll over your old 401(k)s to a new e-trade retirement account. none of them charge annual fees and all of them offer low cost investments. e-trade. less for us. more for you.
5:39 am
5:40 am
one traveler at a time. expedia. finyours. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ge has wired their medical hardware with innovative software to be in many places at the same time. using data to connect patients to software, to nurses to the right people and machines. ♪ helping hospitals treat people even better,
5:41 am
while dramatically reducing waiting time. now a waiting room is just a room. [ telephone ringing ] [ static warbles ] [ beeping ] red or blue? ♪ gerri: summertime around the corner, time for grilling. the consur reports testing facility in new york looking at grills. here to help me do it all is celia riting the story on the grills with what grills to look for. start us out with, why gas? >> goose -- gas is convenient. temperaturminutes of preheating, and you are ready to cook o pose to charcoal. you have to wait a long time. gerri: are there deals?
5:42 am
this is the time people buy, prices might be high. >> actually, it's a good time for deals because the manufacturers are producing models,the stores stock them up, and sales have been flat for grills. they are offering deals to get you to buy one. gerri: you can literally spend anything you want to on a grill. does the higher price mean higher quality? >> no, not at all, ad it actually doesn't mean better performance because we see different prices in diiferent ratings, the lowest priced grills are pretty good, and some high pressed one are not. there's three grills, and we'll start with the medium sized, the most popular. what kinds of things shough we look for in the medium sized grill. >> what you look for, and this is for any sized grill, look for certain features, something with an electronic igniter because they start reliably and work better. you also want to look at the
5:43 am
grill itself. you want to see how sturdy it is. yowant to look for rounded corners so you are not going to have anything to bump into it. wuches you're in the grill, the most important thing to look at is the surface here. you want to match that to about how many people you generally cook for. >> that's the typical rule of thumb? >> this is a medium sized grill fitting 15-30 burgers. that's a good way. gerri: all about the party. >> all abou the party and how many people you usually eed. look at what the grates are made out of. these are stainless steel. they do a great job of sering foods and also hold cooking temperatures even, and stainless is durable. gerri: all right. great stuff. look at the small grill. >> sure. gerri: okay. if you're not in the market for this, need something smaller, what are you talk about here? >> this with small one, you're talking about 10-15 burgers. this is good grill for, like, a couple, one kid, and you can
5:44 am
always cook in stages, again, here it's a grill with electronic igniter, one that's sturdy, one - this has cast iron grates, good at sering and keeping your food at a consistent temperature. you have to be gentler cleaning them not to scratch the coating. gerri: i have a question. the problem i have with grirls is they heat unevenly. there's hot and cool spots. what do you do about that? >> buy a top ratedded grill. that's one of the most important things we test for. we test to see how evenly the cooking surface heats up, and we test it for even heating on high and even heating on low. gerri: all right. look at the big one. >> yeah. gerri: big data, the big kahuna. wow. how many burgers? >> 30 # or more. this is a grillou get a lot of burgers on. again, you are looking at electronic igniters, ast iron,
5:45 am
and burners, and what you are also getting, too, and you saw that in the others, you get tables for prep on the side. that is nice to have. put the pots down, and -- >> absolutely. you need the extra space to have in the kitchening you don't have otherwise. >> right. some grills have fold out tables, and so there's things to look for. gerri: you had great idea for people who put the grills out on the deck. there's a fire hazard thee; right? >> that's right. it's a simple one to take care of. byfireproof mats to put under the grills issue and that's a really good idea. gerri: great idea. last word here. we cover our grill even though it's stainless steal, do you recommend that? >> we do recommend a cover, but be surethe cover itself has vents and air holes so moisture does not stay under the grill
5:46 am
for it to rust. it's generally a good idea. >> thanks for the time. >> appreciate it. gerri: it's friday. we're going in fashion. up next, a look at the billion dollar industry of nail polish it's as simple as this. at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon.
5:49 am
5:50 am
>> it's exciting. it's affordable luxury, and it's a psychoanalysis. gerri: to that point, your most famous color is called "i'm not really a waitress," that's funny, a sense of humor with the products. where does that come from? >> we reinvented the categories in 1989, it was just a name and color making it inspirational, sexy, and fun, and the names are part of the iconc brand of opi. gerri: how the company started, your inspiration in the first place is interesting. tell us. comes from the professional side of the salon business, and we were in the dental business. gerri: how can you be in the dental business and nail products? >> if you remember in the 80 #s, artificial nail extensions were made from acrylics, similar to
5:51 am
the dentures. there's a correlation. and it's more fun to work with nail technicians than dentists. they are so boring. gerri: you moved on. >> we moved on, and so we service the professional side of the business, and in 89, the company was growing and realize we need to get to the consumer. i wanted to be the starbucks of nailpolish. gerri: bow did you do it. you're everywhere. you have teamed up, really, with the entertainment indury. there's james bond nail polish. the wizard of oz, that new movie, oz, you have nail polishes around that. how important is it to selling new colors to have some entertainment connection? >> it's vy important. you know, people ask what i do every day. i go to work to excite the consumer every single day, by doing movie collaborations, and celebrity collaboration, it makes it more as per rational. you want to be somebody, and
5:52 am
through a bottle of opi, you achieve that. it's your first entry into something as per rational. maybe you can affrd the new designer top, but you can afford opi. gerri: we talked about lipstick in this way, and there used to be an index to give you a clue about how consumers were feeling. now it's the nail polish index. >> absolutely, an it's really that affordable luxury. you know, people may not buy the high ticket items, but average person needs that get away. she needs, you know, to self-express. she need to have fun at the end of the day. gerri: what blows me away are the new colors are dark. they are like this, blue, you're wearing this purple color. there's this. this is brand spanking new, and normally, we don't have this thing. >> nothing is taboo today. color is all about wearing color, and you can g from dark to light and anything in between. agai at the end of the day, i say, just have fun with color
5:53 am
and experiment. try something. gerri: where do you get inspiration for the colors? i see glitterrer, dark colors, and light colors. >> i look at fashion. fashion predictions a couple years out, travel to certain destinations. for spring, i went to countries, hungry, czech republic, romania, and polan you know, my color is you're such a budapest. inspirations come from geographic locations. for example, coat mate is a huge trend now, gives a great easy nail art to do, you kno, shiny and matte, and textures, it's all about textures. gerri: i'm blown awe. i think we have every color in the rain bow in front of us. appreciate you coming in. thank you so much. thanks for theroducts so we can see what you are doing. >> my pleasure. this has been great.
5:54 am
gerri: opi is known for bei a made in america brand, but she's the qint sensual american dream. the daughter of holocaust survvvor suse born in communism hungry. she immigrated in new york as a young girl. in new york, she went from working in a factory putting tags on tops for a clothing company to a successful career in the gar met industry. in 1981 #, moved to los angeles working for a dental supply company that turned into the opi empire. the american dream. no kidding. well, here's another update. twinking the prize customer in luck. hostess reopening doors in four bakeries across the country, and one says the goodies will be as dlirks -- delicious and fattening as ever. they invest and plans to hire 1500 workers, and they will not be unionized. of course, they employed 18,000
5:55 am
nationwide before filing for bankruptcy in 2012. the four factories returned to production located in kansas, indiana, georgia, and illinois. you can expect twinkies back on store shelf this july. we'll be right back with my two cents more and the answer tohe question of the day, do you feel overwhelmed with information on a daily basis? i do. the boys used double miles from their capital one venture card to fly home for the big family reunion. you must be garth's father? hello. mother. mother! traveling is easy with the venture card because you can fly airline anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing conte and go! ♪ win! hat's in your wallet?
5:56 am
it's delicious. so now we've turned hetoffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. ♪
5:57 am
[ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just stay alive.. but feel alive. the c-class is no exception. it's a mercedes-benz, through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. ...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... wee making it. at tyco integrated security, we consider ourselves business opmihow?.
5:58 am
by building custom security solutions that integrate video, access control, fire and all backed up with world-class monitoring centers, thsands of qualified technicians, and a personal passion to help protect your business. when your business is optimized like that, there's no stopping you. we are tyco integrated security. and we are sharper. gerri: every day we're inundated with information earlier i spoke with phil liven to get his intake. we're asked if you are overwhelmed on a daily basis withnfo, here is what you are posting on my facebook page. >> without a doubt. >> yes, but without a choice. 43% of you said yes, 57% said you got it under control, and tonight. it has been a sad day in world
5:59 am
of country music, lost one of its legendary stars george jones. has passed away at able of 81, known at the manith the golden voice, a career spanning over 50 years, jones had more country hits than and other artists releasing 150 albums and a number one hit in every decade issue his biggest hit, "he stopped loving her today" but the song you are about hear is my personal favorite. >> we're gonna hold on ♪ we're gonna hold on ♪ gerri: hold on, dolly parton treated today, said my heart is absolutely broken, george jones was one of my all-times favorite singer and people in the world, me took his legacy will live on,
6:00 am
that is my two cents more. that is tonight's willis report, thank you for joining us, have a great week, and dvr the show, iw yo york. >> let it be known this is week we moved on from terro concerns and debt concerns that we'll spend whatever it takes to keep us safe, can can assume throws any budget right now out. because, now our politicians have an excuse to keep us out of the grave. we have to keep digging the same old spending hole, i am neil cavuto, maybe it was whether about likal bloomberg and his police commissioner were talking about need for thousands of morecambmorecameras to spy on
73 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on