watch will be initial jobless trends on thursday. economists are expecting the clams a rise of 7,000 to 330,000. a surprise drop the reason we are hoping for good news. melissa: happy mother's day to the moms. nicole petallides is up next. nicole: i'm nicole petallides and fort melissa francis. here's some 85 today. gabba announced stronger than expected sales in april. shares rallied more than 5% on the news. owning 39 million shares. that means she made $85 million today. also making "money," pulse em, the u.s. government's court its biggest monthly surplus of five years. the budget surplus, said to be because of higher taxes and improving income. and ryan gosling making "money." warner brothers is buying the u.s. rights to a the four year

debut according to deadlines. how. warner brothers will pay 3 million bucks to be is distributor. even when they see it is not, it's always about "money." ♪ we start tonight with the power of "money" and the latest saga. the banking giant firing back at critics who want to split chairman and ceo jamie dimon dual roles saying the current structure is most effective for the bank. things seem to be getting worse by the date for jpmorgan and jamie dimon. the california attorney general is suing over how the bank collects credit-card debt. in the annual shareholder meeting is less than two weeks away. so how will it all plays out?

joining me now, business law attorney and president of investment advisory firm. thank you both for joining me. so let's start off your and take a look first. less talk to you first about what you think about splitting up the rolls. you think it is a good idea? >> first, let me say as a shareholder, a recent one, i think it is challenging for a chairman tax and as ceo capacity or vice versa. i think it is hard for a board, which is charged with overseeing an executive to have an unbiased oversight when that executive and board is essentially one in the same. as a shareholder rights amphibrach up. i think that that is a must and should transpire. i am surprised it has already, but it should sure it -- should the senate and later. nicole: i will get to the wall street journal article that

talks about the benefits and the disadvantages. first up, wanted to ask you. the lawsuit alleges that jpmorgan use robosigning to push through thousands of cases to collect on this credit card debt so do you think it will be easy for jpmorgan to defend against this lawsuit or not so much? >> i think he will be difficult for the bank to defend itself. this is like a replay of a bad horror movie. the same robosigning that was involved in the banking crisis is now involved in this case allegedly. you have very serious allegations were the bank allegedly did robosigning. they allegedly filed roughly 100,000 of these. sometimes almost 500 a date. this is going to be a problem for the bank. and the other underlying problem in cases like this is that it not only presents a really big problem to the people there being robo sued, but it is a problem because when these cases are filed and if the allegations are true, you don't get what is called service process.

you don't get the proper service that you are guaranteed to be able to understand what happens. sometimes people get sued and don't even know about it. they do what is called a default judgment and learn about years later. nicole: ultimately do you think that it could really go on to other companies doing exactly this? wells fargo or whomever? it is not a jpmorgan story. it is really more interest -- industrywide story. >> today is the jpmorgan story. over the next couple of weeks it will go to allegedly capital one and a few others. really it is going to raise the specter of the larger question of where were the people within the organization, including the attorneys. why didn't anyone stand up and say this is absolutely a rages. suing dozens of people across the united states with these kinds of documents. it will be a scandal. nicole: wrong and wrong, wrong. that brings me to you. shareholder meeting coming up. you feel like they have been blindsided to a certain extent? what do you think the reactions babies all of this? jpmorgan has been plagued by

some as recently. recent executive vice -- resignations. turning dozens of powerful profit centers and some manipulative scheme is the mega along with it. the headlines are endless. >> i am starting the think that my of jpmorgan recently was not such a good thing. nicole: and i'm not saying that. it's a great company. he saved us during the financial crisis. i know. >> i understand. and that is my point. with all these headlines, you would think that the stock was trading at 29, not 49. the bottom line is that despite whether it is london whale, robosigning, chairman, ceo, makes no difference. the bank is executing. the largest bank in the world and a net income of 205% of the last three years. the stock is gone nowhere.

i encourage viewers at home, the bottom line, no one likes the banks. everyone loves to hate the banks. but if you can't beat and you have to join them. now we're looking at some of these banks. they're well-capitalized on taxpayer dollars. they're making money hand over fist because they can borrow it for nothing. the bottom line is this. jpmorgan has gone nowhere in 13 years. the stock yields 3 percent and it is going to go much higher from here because even though all of these have lazar there, you're going to write a check which is not even going to come close to their 20 billion in net income and they're going to move past it. nicole: ten seconds to respond. he took all the time. >> no problem. understood. the real problem, it is like the old line goes, if you lost your reputation ready to go to find it? i understand you could let the stats from about a field of a culture of ethics and compliance and robo sue everybody, you make it difficult for people to be in the company. that is a really big problem.

nicole: i certainly look forward to the shareholder meeting in getting some headlines of that and a couple of weeks. thank you for joining us. thank you for being here with us. just to wrap that up, an interesting article of a law street journal. does not always work magic. turns out when you read this article, and you as the bullet up. it basically says that it is good for the company's other struggling, for the was the doing great, you should not release the of the role. that was the finding overtime. thanks. new reports that the takeover is intensifying with a brand new offer from billionaire carl icahn. we will investors by? our own elizabeth mcdowell has the latest. she is here with that. what is this great neck? >> well, neil just interviewed hours ago. and he had some really interesting things to say. as take a listen. >> in the future i think the software business will increase dramatically in its value.

the pt business, which everyone does not like, perhaps rightly so, still has a great deal of value to microsoft with intel, a possible merger with hewlett-packard. nicole: this is what he is offering investors. this is important. this is breaking news come easily saying, go with me. we will give you 12 bucks a share. the publicly traded part of it. 58 percent. then you can test the upside if we get delta break itself up and sell the pt units of microsoft or hpv or intel. the other side of the aisle is saying we want to take it completely private so you do not have any potential upside if the stock does go up in the advance of a breakup. you know, he is easily same going to give utah dollars/share that is less than the $15 per share that was offered a couple of months ago. it is still less than what michael dell was offering in his

12, 13, 65. look, my offer of 5 billion in debt of the company. go with michael dell, private and you get no upside and 16 billion in debt load on to the michael dell offer. go with me. he has done this before. he is sued companies like motorola, been an aggressive takeover battle. watch out. if he wins you will see a breakup. eventually motorola mobile was sold to will. nicole: an intense battle. >> it is a big story. nicole: a big story, and we have been falling since the beginning. all right. thank you so much. we think. tonight, you heard her say to an end. 8:00 p.m. eastern time. he speaks with karl hhmself about hii new bid for bell, and that is tonight at 8:00 p.m. eastern time. coming up next on "money", california electric car mandate says automakers into a ditch. we will tell you why they're

paying through the nose in order to satisfy the new rules. plus, the driving rental market may seem like bad news for home sellers, but it may prove the best thing that they could have asked for. stay where you are. more "money" coming up. ♪

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nicole: the u.s. dollar extended its a big rally against the yen today, hitting its target level in four and a half years. and plummeting value could bring a big jolt to the japanese economy and exports with toyota reaping the benefits. shares are in lock step with the surging dollar. this could mean a bumpy road ahead for general motors. let's go ahead joe for more. >> reporter: certainly it is a very good news for toyota and tough news for american automakers. basically with the dollar at of four and a half year high. beating that 100 mark. has been great news for the company. sick of this chart, stock is been going up in lock step along the dollar. and it is basically great for

some investors because buying toyota could end up being a good proxy for shorting the yen. you know, also kicking off the dividend. so basically a stronger dollar and weaker yen mean bigger profits. now, for gm and ford is to be bad news are lukewarm news. you know, on one hand toyota is at a 15 month low in its market share. american vehicles -- american companies have very, very strong vehicles on the market right now. toyota has to compete with nissan domestic and be with honda in that very small space. it will be difficult for them to overcome a lot of the challenges that they have been going through the last years, recall and the tsunami. but on the other hand, the more competitive pricing to be great. rolling out a brand new redesign corolla which is the best-selling compact car. and the decline in the end, it will only help them in a profit. some analysts in japan are kind of holding on to their hands right now experience a city it is good news, but there not

anticipating that that will last forever and a saying that there is no guarantee that it will stay that way or better performance will necessarily last. it could be good news or bad news for american automakers. probably airing on the side of bad news right now. nicole: 71 to watch and toyota is reaping the benefits at this time. the be down, and it just makes their products more affordable. overseas, around the world, and it gives them a nice little advantage. >> reporter: a little jump for now. nicole: thank you for that report. turning to the race for the largest automakers to meet california's new emission standard. amanda requires carmakers to sell a certain number of zero emission vehicles starting in the year 2018, but manufacturers say they're going to have to lose money to try and make some. with me now is president of eagle autumn of. also, the car coach. welcome both of you right now. thank you for talking about this. obviously a really big issue,

and we have to hit it hard. the start of a few. some other requirements that we're talking about here for the automakers. you know, that they are on the hook basically california. >> there are now allowing for hybrid simi to comply and standard. not allowing far national gas, cng vehicles. has to be a lecture plugging carper every anyone that sells a certain amount of vehicles are more, so you're really putting the burden on the car manufacturer to take a loss. instead of having a penalty, the penalty is to be on manufacturers to produce cars that consumers and necessarily buying and that each manufacturer is taking a loss on building and building them basically only for california, but a few other states might follow suit. nicole: i will get to that point in a minute because that is a very big part of this. we are talking about california. i wanted to ask about this. you what the business back. you have eagle on the mall, and

you want a president. how does this affect business? >> it will be passed on to the consumer, but to our point, not only to the manufacturers have to produce a certain amount of electric vehicles, but they have to sell. those vehicles are not solved the manufacturers in virtually going to have to buy these cars. nicole: that is a big deal when you talk about this. you actually were in some sort of similar situation. can you explain? >> several years ago when battle around chrysler there were going to be penalized $10,000 for every car they manufactured. in order -- because if they did not meet the pollution credit standards. so they were not -- they bought a company called gym. basically a golf cart company. because the to be registered on the road and turned back pollution credits. i bought 300 of those vehicles tell about. nicole: them what happened? >> the vehicles are registered to be bought them and their returns them. nicole: no way. that is terrible. that does not sound like a good business plan at all.

>> was a loss. nicole: we know he has stiffed. you will see what happens going for it. less talk about the fact that you mentioned california, but does this rollover into some of the other united states of america? >> you will see that in new york they tend to follow suit. probably illinois. you will see it in certain states that since that allow people. the district of columbia will follow suit, but i keep saying, when you are forcing electric cars and people, a little bit of the marketplace that is buying and then you look at all the rest of the car companies that are not surviving, they have gone bankrupt. are you leaving consumers with cars that there not going to be able to get parts. >> reporter: in a bind with a buy something in order to meet a certain standard and force it on the manufacturers who either take them back or they just going to take a loss or are we going to end up paying for all of this? nicole: electric plug in cars, it so foreign to me. all i do is report about them. i know anyone who has won. i have never seen one of my own

eyes. feels so foreign and so back to the future to a certain extent. the hearing that they're going to need to sell about 600,000 of the vehicles nationwide by the year 2025. does that sound like it is on the mark? does that sound insane? add all know where i will be? >> well, i think it is impossible. i think mark will agree with me. i don't see the sales. adjust all see it happening now. nicole: and also, do you think the administration has changed?

the output since last november. stuff for in u.s. dollar took a bite out of oil futures. crude fell for the third session in the past four, selling at

9604 per barrel. mid-america energy will invest 2 billion in so wind farms in iowa. of 40 percent of the energy will come from wind. when the project is completed is scheduled to be finished by the end of 2015. and coming up on "money," the rental market is booming. but it could be the best news for homeowners and a long time. a realistic story that everyone is missing, and we have before you. plus, the properties that could make louis the 16th brush. the eric -- blush. the era of the $100 million home is upon us. what it means for the future of coming up. piles of "money" on "money." coming up. ♪ all stations come over to mission a for a nal go.

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♪ nicole: so, the age-old question. do you renter dui? and good today strong rental market be creating a bigger pool of potential buyers? it sounds interesting. will breakdown. to talk about the hottest trends in the business of realistic, mortgage bankers association. real estate consultant, john burns. so let's start, first, with you. a explain why you think may be renters may turn into buyers and if it actually works. >> in a normal recovery uc renters start to come back, and we are barely seeing now. for two-thirds of the country the rent is more expensive than the mortgage payment. we are saying it is a no-brainer if you want to be a homeowner to come back into home ownership.

nicole: that is an interesting point because rent has been on the rise and everyone knows month after month if it keeps going up and up and you start to feel like your money when out the window. so what do you think about this notion of trying to be, homebuyer? what about unemployment? how long do you really have to have a job? do you really have that chance of getting alone in making that purchase? >> well, you do. it is certainly important to build the adequate credit. to follow on one of john's points to now we are pulling people out of rentals has been a big driver for the mock past. the key thing is that when you look at the growth in rental units the biggest growth of the last several years has been in single-family detached homes. the increase there between the seven and 11 as a little lover 2 million units. a lot of that is families with children. we think once they have their credit established, once they have the jobs, the unemployment, gradually coming down, i think those people are going to be

making a choice to move from rental single-family homes to owner occupied single-family homes. it will drive it for. nicole: and if they can do it they probably feel like they're getting the best bang for their buck. what do you think about mortgage rates? we have seen an exceptionally low. there were up for the first time recently this past week. i think the 15 year went down to below 3%. the 30-year obviously record lows. mortgage rates are still pretty low. you think that they stay here? >> there will for a while. keep in mind, the 15 years mainly for people who refinanced the purchase market is almost entirely 30 year fixed. i don't think a small uptick in rates will impact the purchase market at all. is a lifestyle choice. i sometimes tell people, the biggest driver is truly a second baby in only one death from more so. nicole: that's right. sometimes it is really just a matter of fact.

outgoing printers. if you have to get to the next phase. what do you think the trends are when you break it down? do you think that telling ford people are going to really -- you did not see it right now. you talk about unemployment. obviously still lagging from the %-certainly not a booming econo. what to you think? >> well, i think he hit on some of it. the group that he is talking about, single-family renters', boomerang buyers. most of those people went through foreclosure and are holding out. we think about 75 percent of them will come back. what is not coming back is the young 30-year-old couple who is getting a rate hike in a nice apartment in deciding to excepted. that has been the biggest surprise. doing a lot of research. they're walking around with a big credit-card debt, student loan debt, to car payments. that is what is keeping them out of homeownership. nicole: i like what you touched on demand at coming to ask you to reiterate, but breakdown. who are the real home buyers?

it is not the young couple. the person who has been around for a long time. breakdown. >> it is primarily, lot of investors. taken out of the next. primarily people like at the last mortgage 50 edge of the years ago, in the money, the kids are out of the house. it was something different. but the first-time buyer is the one that -- it is trimming back, but not nearly as good leas is should, especially given the fact that the fed has dropped rates from six to three and a half and they have 34 percent more purchasing power today than they did five years ago. nicole: last question. the one thing that i no -- i mean, i follow housing every day. prices on the rise, ownership is lower. rent hikes are going up. the ownership numbers tell me. a 17-year low. that is back to 1995. how you feel about that? >> well, to echo a point that was made to me if you look at who these people are, what has happened as we pull a lot of people into the housing market

younger than they normally would have entered. now that is backed up. we're back to normal levels, the 20 to 30 group, 30 to 40. another class is not so much why is the home ownership rate dropping but how did they get so high in the first place. i think that was really abnormal conditions that led to the increase that we saw. nicole: thank you for breaking down. i appreciated. a great segment. pinkie. next on "money," the jury is still out on real-estate come back. maybe the era of $100 million houses, that might change her mind. you will explain what it means in the housing recovery future. plus, just like winning an oscar, winning the james beard award for the most outstanding chef can send a career into the stratosphere. the shaft just named america's most outstanding will join us coming up next. can you ever have to much "money"? ♪

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♪ nicole: even if you can't afford it, you love seeing how the. 1% live. we all do, and nowadays is certainly seems like the real estate market is bending over backwards to accommodate.

and we are not talking million dollar homes, we are talking $100 million loans. new developments going for more than $3,000 per square foot. this super higher-end part of the market is booming for. yes, booming. here to tell us more about it, our powerful panel of realistic to roost and the developers. let's breakdown. steven and isaac and also for mr. porter morgan brennan. the easiest name as corrupt. you roll with the article in forbes. breakdown, one of the trans? >> i think we are seeing a lot of what i like to call flight capitol, global billionaires' are bringing money into real estate, sort of a hedge against every other type of market, commodities chemical coming down we have seen the stock market a little shaky. these are folks that have a lot of money in now looking to diversify their portfolios and their doing it with all for luxury homes. we are seeing about a property

seller in the past five years that are priced $805 million higher. six of those eight have been in the last two years since the housing bubble burst. nicole: breakdown. you are a luxury developer. is this for you are seeing? >> yes. nicole: give us some examples. where? who? >> one for 60 million. in manhattan. madison. basically i guess in her sight, listed. there are least three more in new york. one and 600. 40 million. so that is the new. nicole: this is the new, ultra luxurious places. what are you seeing? what really goes into these hundred million dollar places are $30 million? are they really worth it as an investment or just a place to live? >> well, you know, we have not solved anything for

$100 million. we are having a slightly different experience of the projects that we just sold. we are 100% sold. that was principally to new yorkers. families from new york are moving downtown. our property is in the west village, and we built the family oriented property. it is priced in the $3,000 a foot range on average. but for all intents and purposes we got no foreigners. we did not really see the flight capitol. nicole: okay. well, just tell me. you talked about new york. where are the areas the you think of the strongest? >> within new york city? nicole: a new york and then -- we have a lot of new york watchers. new york in and give us the u.s.a. >> i think new york is -- in my opinion, my view, the strongest market in the united states today. miami is a very, very strong market also for all the right reasons. traction from many different

standpoints, including the four latin market, and that is a real flight capital market. every time they devalue in latin america there is more money that comes in the miami. so those are the two markets that we are actively involved in today, and we are seeing really big velocities. nicole: you are a luxury developer. and it is working. i cannot believe it is working because it does not really feel like a booming economy. what i was reading about is a shortage of workers. you need more in colorado. not enough workers to build and get these luxury places up. is that an issue? >> always an issue when you have an up cycle like that. you know, you have a shortage of quality contractors, quality workers. having ttat in new york as well. that is the problem with this kind of a cycle. but it is not something that we can overcome. you know, in the down cycle, a lot of qualified workers cannot train themselves to be in the industries.

we have to get them back. nicole: we are seeing the growth, but we're certainly not back to the pre recession levels >> i think we are. i think prices are back up. i think inventory levels are down. i mean, last year in manhattan inventory levels were down 27%. we see pricing going back to the 2006 levels. i mean, even i sold out buildings and less than ten weeks. nicole: that is the other thing. you set less than ten weeks. things are starting to move faster. inventory -- >> it is a record. want to say may be in the world. to sell $700 million worth of apartments in ten weeks, that has not been seen before. we were not expecting it. a big surprise, which means their is a big pent-up demand. nicole: they have been waiting to put their money somewhere. you did so much research for your article. what else did you find in your research that really hit you in the face.

>> well, i think just the idea of purchasing $100 million, or $95 million home, even a $30 million of. whereas in the past luxury real-estate as always been compared to the other buildings and properties on the street. a lot of buyers are starting to look at the altar high-end. how does this property compare to other properties and other major cities across the globe. so new york city, for example, seeing a lot of people come in and buy these properties. there are still cheaper. nicole: we are showing them. we will see whether these homes hold their value, go up in value. you will never know. we think as it for being here. pricking that down for us. thank you. next on "money," winning that james beard award for outstanding chef is the equivalent of winning at the

oscars. chicago's black bird restaurant has tied for this year's honors. how will winning the award of the bottom line? here to tell us all about it. the end of the day it's all about "money." ♪ (announcer) at scottrade, our clients trade and invest

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♪ nicole: hot music. winning the james beard foundation award for most outstanding chef is like taking home an academy award. this year for just the third time in its history to lead to chefs tied for the most prestigious honor. this achievement and solidify the top standing for restaurants , and we know what that ultimately means. show me the money. what does it translate into? one of america's newest, most outstanding chefs, executive chef and partner of chicago's black bird. first, let me start by saying congratulations. i mean, this is huge. how did you feel by winning this?

>> welcome to be honest with you, i was a little freaked out when they announce the time. a tie between chicago and new york. i knew that i was the only chef from chicago, but did not know how to react. i was not aware that we had both won. a clarify that pretty quickly. and first thing, i hugged my beautiful wife and high sideline business partners and went up there and made my speech. i was ecstatic. it is the fifth time that i have been nominated, and that just really wanted to get it out of the land of on. nicole: it is like the oscars. you put it on the mantel. and the stand. hi-fi the business partner. i mean, it is an achievement. what were you looking forward to in the future? does it mean more restaurants? does it mean products? does it mean better staff? what does it mean? >> you know, i think it means all those things. you know, from my standpoint, from the kitchen it is more exposure. it is the ultimate honor. and sure would give more talent

coming our way. i think it is -- you know, with the restaurant business every little bit helps. from, you know, having shown one customer great experience and having them tilton people understand tow another tennis the way we have run our business . this is such a lot of people quickly. i am sure i have won a lot of awards of the years, not to sound arrogant, but they all help. they'll build a brand. they'll bring attention to what we do, help finance projects in the future and compass growth. nicole: you don't sound arrogant. teeseven someone who is working hard and trying to achieve awards in order to further your business results and you are doing. what did you need to do? and a half to get back to the business, but what did you need to do to win this award? etf some famous fabulous dish? will wanted? yet been nominated. >> the way it works, well, i18 years ago for the best chef in the midwest. it is broken into regional categories, broken into best restaurateur, with a business partner was also nominated for.

the first time he did not win, but we have four nominations. they actually come from people that are members of the foundation and more importantly they come from your peers. assess that have one in the past , some of them, they vote on who their favorite chefs are. nicole: that is the best because you want people in the industry, that means the nest. i tell your the best, it does not mean much because i macy's toast. you need someone who knows what they're talking about, but i do understand the dollar and money. i see the you make about $30 million in revenue roughly for your restaurants. where do you see that going? do you think ultimately that goes up? why? >> well, you know, our restaurants -- we love the service business. we love to take care of people, and that has been our best tool. for a sample, if someone is there and the meal comes a little late or they're running late and many to be to the airport, we drive them to the airport. we go the extra mile.

that is the kind of thing that in the long run bus money in your pocket. you know, really -- we are not arrogant we are successful or that we won awards. on the contrary, we are humble and that the people really dig that humility and want to come back to our restaurants because we provide great food and service. we just have built our brand that way. opening another which should prove to be our largest restaurant in november, and we will keep going after that. we are passionate about the business, passionate about design, and i am passionate about food. nicole: i like your passion, and that they did. i wish you continued success and congratulations on the award. it is a big deal. thank you. >> thank you very much. nicole: only seven years old, but who says she can't have her own fashion line. she just thing to deal that will have tom cruise jumping for joy in no time. we will tell you all about it. you can never have too much "money." ♪

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one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ nicole: it is time for little fun with spare change. today we are joined by imagen lloyd webber. and investment banker jerry haggerty. so comcast seven year old

daughter is building her own fashion empire. when you think? >> this comes out of the newspaper in the uk's bizarre column. apparently at the age of five she had $155,000 shoe collection. so this is not rated. nicole: secured to say that we don't like that. how about the da vinci book that bill gates paid for $30 million. >> i think it's a great investment. da vinci is part our culture and it will keep on getting more valuable. >> he wants to spend $30 billion on a book when he can, he gives millions of dollars to charity, that's okay. nicole: let's talk about the bloomberg reporter at goldman sachs.

they are saying that a reporter asked a goldman executive -- on friday they cut off the journalists access to the client data. so they received a complaint over bloomberg. >> well, apparently to cost $20,000 each to run these articles. it what is interesting is that they didn't find out at goldman sachs for so long. bloomberg knew all about it. nicole: you are an investment inker, what you think about this? >> that being said, it is same party data. i don't think there's a real expectation. >> it is very big brother they can see each joke. nicole: hooters is offering moms free mills under $10 plus a drink to celebrate this sunday. what do you think, is this right? >> this is terrible. i don't know where the guys are

better doing this, but they are cavalier and intrepid, much more than i am. nicole: what you think? >> they expect 20,000 very disappointed mothers. nicole: let's talk about the fact that mcdonald's is cutting the angus beef from the menu. >> well, it's to be expected. just times out there at the moment, it's tough to charge $5 for a burger. nicole: i think now they are trying to be healthier. i have enjoyed all of your comments. well, big market moves on the yen this week great even though the dollar is stronger against it, tom sullivan is ensure that the currency is worth what they say. reporter: the currency wars are here. i bet you 95% of most people

know what a currency war is all about. you buy a product at the store for her daughter. the dollar in your while covers it. why should you be worried? it all started with ben bernanke. he has made the dollar worth less and less. if you buy a product made overseas and 10 overseas like a honda or anything, it costs you more money. the japan has decided to get in on the act but printing phony yen. the end does down the dollar was up goes up for the honda should cost you less. but for american companies that export coming to that item. this american-made products will cost more and more for foreign buyers to purchase. europe and australia and even sweden are dropping their currencies. this is like a big poker game with every player dropping currency to outdo the other guy. eventually there will be a big pile of poker chips are worthless. the race to the bottom will not end well and when it does, it will make the financial system meltdown of 2008 look small.

nicole: thank you, tom. be sure to watch the tom sullivan show this weekend. you can catch it at seven and 10:00 p.m. on saturday and sunday. happy friday, everyone and happy mother's day. "the willis report" is coming up next. gerri: hello, everyone, i am gerri willis. tonight on "the willis report." business and real estate. we have the best places to buy in the best places to make money. also, a new warning about the market. investors borrowing more against their stock portfolio. in a florida teacher is fired for revealing a little too much. is it legal? we are on the case on "the willis report" ♪ ♪ ♪ speak to our top story tonight is the business of real estate. whether you're buying or sellin