tv The Willis Report FOX Business May 28, 2013 9:00pm-10:01pm EDT
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>> i mean, i agree. and believe that that has been in ac that liberal groups and unions said that for quite awhile. a local union chapter president who wrote an op-ed. >> come to new york and paid br double. there ihes always that.t". ♪ gerri: hello, everybody. i'm gerri willi tonight on "the willis report" president obama's says he has done a heck of a job. >> it is open for business. gerri: he will tell you about the folks left high and dry. a dangerous oversight of your tax doars. government watchdogs not on the j. the markets are on fire, but ho can you make gerriwillis.com witht getting burns. watching out for you tonight on "the willis report". ♪ gerri:r top story tonight,
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surance companies not paying up and they should. homeowrs thinking may have 3 complete coverrge when they didn't. a growing problem across the country. folks up and down the east coas say they were shortchanged by their insurance companies after a superstar and sandy. now we are hearing reports of similaa isss in oklahoma after that devastating tornado. this is an important story from owners, en those not directly affected by these recent storms. with us now, lama law grp and oklahoma as insuran commissioner i will start with you. i understand you have had something like 22,000 aims. how was is going? what is the lateet estimate of the damage? >> well, we do hav over 22,000 claims that have been filed ove the last eight days, and the process has been very, very efficient. we are not hearing some other parts thatou are related to me of the topics. i would be interested to learnr more about that, we feel like consumers ar being taken care
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of,oklahomans are been takaking re of. the military, a day nce the day of the tornado. so they could not give in until about three days ago, the insurance adjusters. we have basically an insurance bill is set up, which easily th first time this has ever and that in a major catastrophe where homeowners he come t one place and get their climb started at the fst baptist urch of mo which has been very, very efficient. gerri: boy, you had a big disaster. of course it is early in the process. the insurance agents have been on site for about three days. lots of time to go. the debris remal was about to begin. would you tell people on the grnd there who are making claims. what should they get done befor that debris is removed? >> one of the things is that th area is pretty much entitirely devastated. these lots are of a large
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portion of that will be telling scrapes with emy being with e city of more . really coming out with a very clear bulletin for consumers to understand exactly how that debr removal is going to work in partnership with the mob. they need to get it to 15 to 20 feet of the right of way, and then that will be picked up to. a very efficient process. gerri: so much stuff. souch material that, you know, personal effects of people out there. chip, to you, you know, john wa asking what the problemsor t there. he is not seeing any. what i am seeg having covered the industryry for a long time insurance policies were rewritten well ahead of the orm because of the kinds of losses that insurance companies have had, from big tornadoes, but thunderstorms, trying to reduce the amount of money that
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they have to lay out. jim, what are you hearing about oklahoma? >> it is too early to tell right now. your nose. only three days away from it. you can't say it's gng horrly because the insurance companies have not been put to tesd. how quickly and getting money t the policyholders, and what are they doing proactively? investigate and evaluate the full amount of damage. right now all that debris will be taken away. just like you said, content, al kinds of parts of the building. people need to be out there taking photographs and videotap before august taken away is tha isvidence in their favor, not the insurance company's favor. gerri: as you know, president obama was a new jersey,nd e state is very proud of saying that ey are clearing out claims, $90 a defensive been closed. but is that those story there? >> that is an unbelieble statistic.
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when you gonna feel that ashe book, is there clarendon, or you'll find is there getting a pay -- paid a part in the insurance companies may save disclose their trying to seek more. we were hearing the federal flood insurance pro has been extraordinarily slow and doe not play their -- pay everythin that people loss in the storm. our resident a business, across the board we hear that and we hear people like getting paid the full amount of money from low one thingay need. the cims a close, yes. gerri: one. [silence] got no money, right? >> and they ar still fighting get more. the insurance company might consider them m to be closed, b there not going on in dng
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additional investigation. national flood program is a great example of. if you want more yet to submit want to see what you have gotten when you go through the appeals process. gerri: i've seen you quoted saying the insurance company di a great job of of offering policies. some kind of insurance for thei house. at the end of the day, th you expect those people to be paid out in total? rebuild completely on the basis of their insurce check? >> well, the w it works in know, we believe that t free-market and capitalism of the insurance market merrick's works very wel if people a competing for insurance business that rlly is theest case rests. and o state -- we are used a tornado, activity, the may 99
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storm, obama's city came throu that very well. we knowhat we will come through. it is impacted,but therere many different types of policie that are out there. we regulate and licensever a hured thouousand insurance agents in thestate and local lawmen believe they do very effective job of communicating that to consumers. when they have these choices that are ou there, 80's in their best interest, but we get over 30,000 phone callsls a yea million hits a year. this is our first tornado. we just went through one. r one-year anniversary, and take a lot of pride in working with this case by ce. gerri: and i have all the respect for what you're doing right now. my concern, as always, is with the consumer and if they are getting the al they expected and the covesaid they expected . of course it is to early to know right now and obama. coed.
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>> let me tell you what we did. we broug together all of the insurers that re here that have been here for the last six days, had a eting of the loc holiday insurance department website. they came in, we talked to them they know my expectations is fo them to take their policyholders in a quick, efficient manner, i the cash inheir hands andhen we will begin to work with them on a case by case basis this is up, and we takecare of its other with maybe difference and so the other parts of the country. we will a good job growth, the insurance companies will be paying the policy of designers. >> i hope you're right that prayer right now everything goe right now,. i've just seen so many examples where consumers have been disappointed if. frankly, last word here see you chips, you know, at only do you have situations where, you know look, the policies themselves are written in no way that is toh to getfull coverage because people cannot pay for
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full coverage. the deductibles have been raised . the mits of been lowered. what d you expect to be the final story inoklahoma? >> i think you're going to find lot of peoplehat we partial payments. it is of valueolicy law states , like a lot of the states that have been very proactive consumer picies. -f you have a policy to your house is sodistorted you get to be the policlimits. obama is not that way. chans in policies that people will get a depreciated amount. they will n get the full placement back for. i expect matching problems and problems thatill come out. i hope it does not happen. i have not found that personall representing people all of the country and the unthinkable happened this time either. gerri: appreciate your ttme. thank you. >> thank you. gerri: it is not just insurance companies not giving residents the money they need. in the case of superstar and sa
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the victims, the red cross stil has not spent more than one-third of the $300 million i %-. seven nths since the storm $110 million sitting in a red crosoffifices while new jersey and new york residents wer literally left out in the cold this winter. the agencies as part of the reason forhe delay is the wait and see how the stes will allocate the $60 billion from the pro -- federal government and may need some of the maining funds for families this summer. marocain sandy new jerseyrelief fund h only spent 11 of its $3million. the unid way, less than half of the nearly 10 million. let's hope, let's pray this money to the people who need. those folks need help. at's for sure. moving on. waste, fud, and abuse running rampant inop federal agencies? we now know. that is because five cabinet
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agency inspector general posts are empty, vacant, no one in th job. some have been vacant for years. with more on this, president o citizens against government waste. i laugh, but iis not all funny what is goi on her? >> the message has not nominate people for thoseobs and in severalases where they have nominated divials the senate has delayed the nominations for vaous reasons. the defense to turn a permanent d sector general and a career person in the position the protection of that job and the risk that the ig will take the house oversight cmittee entified more than 75,000 accusations that could face $67 billion a year at not been implemented. they've opened and impmented ig wreck emendatio begins the
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dawn of a permanent id. gerri: all kinds of things stil angry about year. these cabine agencies that we're talking about thaa don't have an inspector general represent percent of the u.s. budget to 58%. i mean, come on. this just ridiculous. these of the pple we're supposed to be watching. know what stock. you need somebody watching ever shoulder. and we're seeing time and time again that job is not getting done. this said pointthe finger at the white house, the whit house of the senate. to sve this? >> both immobile more the administration and the senate, even though thesecretary of the treasury is no an idea, but get twice as many questions as tim geithner, the former secrete -- secretary the treasury.
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i'm so tired of hearing stuff like that. there was a report any may have said. weouldn't save 67,0 -- $67 billn. what will make this change to make anything about? >> congreshas to get on top of the administration ad demand that thess thingse sent up. senator jean chretien in new hampshirhabeen asking the administration this in the map. te the administratn in february. all obama administration appointees. first, second, and forth for unimplemted recommendations. te of billions of dolars that could have been identified.
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>> taxpayer dollars that could be saved. thank you for coming in. >> thanks. gerri: we have more to come thi hour including good news on the economic front. where should yo invest and boost your portfolio the answers, and regulators are finally looking into dangerous troubles with elizabeth car a truck engines of. what you need to know next. wi the spark cash rd fr capital one... boris earns unlimited rewards for his small buness. can i get the smith contract, ease? thank you. that's three new paper shredders. [ boris ] put 'em on my spark card.
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gerri: federal government finally, finally revving up an investigation into the 4-f150 pickup trucks with ego boost engines. if you watch ts show you would have known this was coming through because earlier this month reported conmer complaints about egobooster engines that shaker lose power during acceleration. that is a complaint. alhas been done about it from
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border the federal government. with more to -- with more honest , as does it all of the national legal and policy cente if perry got into the show. we have been talking about this for a long time to revise the federal gornment sells lax ? >> hi. well, i know. they spent about -- there have been abo 100 complaints. they shudr and the acceleration. a lot of the problems have been coming during humid or rainy weather from what i understann, but it has been a problem looking at the ford f-150, but it would expand, i'm sure, to other ford trucks that use that eco boost engine. so many models. it is all or the place. very popular engine. is there any chae we could see a recall the think? >> i would expect to s every call, but whatwe really have is a problem that is emanating fm an epa its putting sets strict requirements on fuel standds
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that manufacturers are having hard time keeping up. the technologies are not ready to meet the rising requirements. so it seems like these cars are hitting the roads before they have been properly tested for safety and before they're actually ready. gerri: a great insight of yrs. these in stringent standards from the epa comingnto play, and the companies cannot keep up so they put something out ere not really knowing if it will work an not. people were telling me, hey, this is not a probl because it is only a problem during acceleration, what if i am getting on the expressway and here goes mike eco boost gine, and it slows down and stops. >> it is -- it is a deficit the concern. and, you know, wehave seen various types of concerns, particularly with the most favored the electric vehicles,
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of the manned batteries. it looks le we have the same pattern read these things just hit the road bere they were properly tested. again, just a pattern of the ep requiring more and more, and it is really going to comeack to cost consumers because all vecles are going to go up in price as these manufacturers have to come up with technologies to meet these rapidly rising cafe standards. gerri: us into this exchange i had last week about this very topic. gerri: he told our producer thi is the safety risk. howo? >> well, it depends on what gs on. the gine cpletely shut down the highway, that is a fety risk. some of the things, the stuttering, a good drivi experience is something like that. that's a different animal. the car is leaving you completely stranded, its reliability issue. gerri: if a stop f me while i am accelerating onto a highway
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as weonsidered a safety issue. they're making somebody behind me. you're saying that this lack o intest, ability to abide by safety stanrds is happening in number of categories? >> systems have been some littl conflicts the past. did not want to touch anything involving any type of lithium ion virus. we've seen that. seems like they have been cleared up, but there should be no hesitancy to quickly act o any type of safety concerns, an you are right. this is obviously a safety concern. i am sure that they wilwork on it, but they needo be right on this. just because these enginesare deemed to be energy-efficnt. gei: that is eason to let them go, that is for sure. we need to make sure that
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drivers are safe in their vehicles. than you so much. >> thanks.3 gerri: ler in the show we answer the question, howyouo that? tips on making mon during this using loan. and how to get the most bang fo your investing balk? my last deep, xt guestwill give youne of the best strategies. stay with us. ♪
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♪ >> from our fox business studio in new york, here again iserri willis. gerri: another record for stocks , the dow up to it -- triple digits. the bears have been saying for some time we are due for a pullback, and that includes my next guest say it ain't so. you know, you think there is a mber pullback coming? >> well look. pullbacks ar normal course is a business in both phases. this year, not only a 10% or 5% we have not even had three days in row where we have been down . way overdue, and somomething is happening right now where i think it is startingo wa me a little bit. direction of interest rates. they're starting despite higher and bond markets starting to have lower. th 10-year has gone from 14 to foxbusiness.com and that 30 yea changed as well. still low, but if the markets depend on terest rates,
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they're going the wrong way. gerri: you believe that we pay the fl price for all of this intervention from the fed will result in very high interest rates. how much uld they spike and how ickly? >> well, i believe -- i use, i words manipulated and rage. not just here but in japan and also europe, overseas, just about everyere. simi, that is not a free-market. to me, when the cat gets out of e baguette think they can o much higher, and the fisnd the six is. gerri: well. >> the economy is doing great. the term being uses steroids. coming from thewinds of one man , and all i know i theast t sie he did is we had a housing bubble. the last time we hadeasing money before that was ing gespa the internet in tech bubble, an i am not so sure that this is well. still inin the sweet spot coste
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kate. gerri: jerry, and just rates ar five to percent is what you're saying. >> at least. gerri: is directly that is not terrible, but it will feel painful from where we are today. >> is remembered, investors as well as e market is based on two words go where used to. and the market investors are uses 0% rates into and 3% on the 30 year and of a sudden it is 5-6, look out, and the same goes for the housing market which is debthat we providing a nice little tale wind for the market and economy as well. gei: stocks tradg at at p5. seven. that is not too bad, right >> not t end of the world, but there really isased upon the low interest ra. my worry is the first quarter the market was a double digits. sales, g gowth, and earnings we a big fat zero. if that continues that mns valuations are going higher, an nothing is helping the market.
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a eventually the wall will be hit. gerri: a g, lod point. thank you for coming out tonight . gerri: and you can think of bea housing news for the g market rally. how prices jumping 11%. how'd you get on this? answers after the break. ♪ (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my chts, and spend more time trading. their quick trade bar letsy account follow me online so i can react in real-time. plus, my local scottrade office is there to help. cause they know i don't trade like everybody. i trade like me. i'm wi scottrade.
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gerri: welmeack to "the willis report". coming up, how you can me money off of the latest housing boom, t new reports today that the chinese hackers gain cess to designs of more than two dozen extremely sensitive and advanced american systems. the white house says president obamwill raise concerns about cyber security when he meets
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wiih chine president in california next week. but eaworier today on fox news america live lou dobbs said the administration's response is s siply not good enough. >> they ha been stealing since the clinton administration with both hands. the administration of bill clinton and george w. bush and barack obama have all chosen to avert their eyes. the result i right now at least at least 4-$5 trillion in technology from a and our knowledge base, civilian knowledgebase has been transferred to the chinese. it is explosive, and it is %-destiny.if you will, chinastr gerri: good stuff. he joins me now. wh are you talking about? >> we will continuto follow-up on the pentagon report concluding that cyber attacks a hanst the -- well, from china can be considered an act of war as we know, but this administration has t chosen to take any concrete steps, and no
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one congress is stepping up to demand action. tonight we will be talking aut cyber security with a four haci former star ins former four-sta -- four-star general former vic chief of staff and fier news analyst -ktie mcfaworand and former democratic congressman and fox is contributor dennis little interest in solving this critical, critical issue. $400 billion per year is the estimate of losses. that is the estimate i say at least doechle it gerri: gre stuff. cannot wait. you will see you when a little less than 30 minutes. thank you for the help. gerri: tnk. gerri: hope for housing continues as n fi evidence poin to a stronger recovery. consumer confidence and a 5-yea gh as houses' price -- housing prices surged. how you make money? for jns ning me now to ceo and
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founder of the zero were 12 neor the re wealth nesigork . david miael veiny, ceo of megalomania financial group. cathy, to you, the numemers i a seoseng, housing prices up almo 11% year-over-year accoing to -ky schiller. we are seoseng in california flippers flipping homes at levs that rivl 2005. just how strong is this market? >> well, it depends on where yo are. in california it is hard to get a property, so you have to be careful you know what you're doing and are competing as companies who flip full-time. if youe trying to do it part-t e it is going to be difficult. gerri: david, to you. i'm sor. finish yourhought. >> iricust want to y, lilac and real-estate, it's a long-term investment. if you can get a 6% reventrn ar better on their rent and all th sie, that is whereyou're gns ng to make the biggest bang for your buck.
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gerr i like that. are your customers interested i playing this? what are you telling them about how to do it? >> from an affordable lease standpoints of the individual bunieng a home for themselves, uc today for the cents in price and the affordability fro the state point of financing, rates a bel 4 percent of fantastic. from a investor's standpns nt i think this is where there is caution still warranted. looking at the amount of money that t fed is puttin into the system, the recovery that we have seen in housing is largely dependent upon $40 billion per month in some finange bngs to r without theft steel have a mortgage-security market drifte in the minutes of fe and complete the defendant to on th fed fofinancing. so when we see a change in rate
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to bunieng and selling will wil be sustainable and not. at leastyou will know how is stance in the fifth of the so people believe ts is the vote is your wreath? we have another case for prices take another bite down because there's nothing for sa. you cannot find a house to buy. is thisricusthe tiectat there is no ventory out there that is driving this prices to this >> david is exactly right. the market is so manipulated that its hard to know at the plate. i say don't try to fight the government. they have for an engine that defeat inflation, and they have an agenda to have fair hsing market siprove because hbs. and so if we know that inflation is probably going to come from among one of the best hedges against it is realistic, espege bally leged realrry.state.
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"property firth the amount of time, all that out, it could work out in the income of t 5 feet of trying to get overnight, increases in price to and that is vek. riskyrec6 this the end heart, like your thinking on t long-term holding and prwill makes sense. another way to do this obviously. >> l, long at the charts for four months of offense moves . coming in at these prices could you have probably more downside than upside will look at in terms of the general equities market is insider selling. e tremendous ount of litigation that the above the 41,0iss to one i fnfe of
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liquidation of the shares for fifth beeve we see weakness in its general equities face, and i am not sure from a technical pepectnfe if we would be interested. take a company like sherwin-williams the fantastic movement fre again, you are buffett of the fifth all-time highs that had you make money bunieng highly. gerri: on solely different found. osether of you, conser aa the theft occurred feel i cax isot tayou t by som3 thne dnieng somethg violent would you do that? does. >> have would give it plain doubtful energetically. a lot of will i donel?. youdepend upon the deal. it is a bargain would buy it. gerri: have a feeling you're going to say that you would buy it, two flights as pragmatic as i death, fiinfnces and i think of myids and i
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think have a lot of explwouning to do gll to death with amanda and i sure it wilbe worth that hassle to me. so on i non-fiinfncou of the self. gerri: theryou have it 50505 long. now we want to know with tieith . he is our fustian. would you via nomura fed the theper ohadurred five blonde. the form of life inside the frame. i wi read both of the end of tonight show. of the come back, the irs putting a new rules on what you can and cannot consider part of your office. level explain. another e e movse ship dister. foy fing an early end to people's vacation. but a passenger bill of rights protect them? ♪ [ engine revving ]
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gerri: another day, another e e movsdisaster. passengers are heading back, after a ferme cut theerm loyal caribbean grew short. but other passengers rits being ptected? withore on this earth, a maritime attorney. thk you for coming by. so they did this year, four of caributean is ging passengers full refunds for four of their tieerm and a certificate for geture cruises. >> i cero caribbean and major from --of living, but i think they got it right. i with the plo them what they did. if you compare it is really a night and a scenario. gerri: every day it is another difip, some pdem, and of the industry has put forward the own pastheir bill of rig
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bs. but mit reloaded from its a year. the essential needs areot able to be addressed. the rig b to a full reftectd. mechanical proems or a partial reftectd for trips cut difort and finally the rig bs of transportation if f fifth increase since early because of mechanical issues to read what do you make of that feed back this the stuff go far enough? how would you change if? >> it a good start, but you make a g, lod wife fled to the in- cstk.str ko m is regulating itself, and so there is a glaring holes. of that. the coast guard and efta have juriictional issues. this is a lbying someoup and the cruise line itself. the ierinftional assoc you gerri: thank you. but the penalty for n abiding by this of life here for of lamb hf, is that you do n have your in.
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>> it is a prerequisite of. thank to you donel? g to gro gerri: what should hapn? people are really frustrated with this. i sign my life away. he by cws you have to sign multiple releases. neve3 a never, never. and then this happens and you have no control. >> it really is a consumeing b3 rig bsssue. we even have a right to bargain. they tried to ou e that as a tr, lopfor n- t, lol. forttectately theaw does allow ways and you will see a lot of that tested withhe carni triumph case? rri: what do you do? if there are p3 thple out there who say i do not wantnother chris. chris. out of money. of? media don't want to hire an attorney.
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can you call then th >> you pbatedy can call a mob. i don't know much of what else. any t sie anything goes wrong on the high seas there are a lot ofood lawyers, and that isfor n- consomeess is not havey power. gerri: thank you for coming on >> think you for having mrd t gerri: still to comi my "2 cents more". and did you save both t sie and money whent comes to next year's taxes flatly of the faffleck both you and your ldayt f, lot. stay whosts. ♪ bloodbath vo: traveling you definitely end up meeting a lot me people but a friend under water is something completely difrent.
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i met a turtle friend today so, you don't get thatery often. it seemed like it wamore than ppy to have us in his ho. so butiful. avo: more travel. more options. more personal. whatever you're looking for expedia has more ways to help you find yours. 7,000 students drop out very school day. that's a line of desks more than 4 miles long. keep students in school. visit boostup.org and takthe first step.
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♪ gerri: you know, aid is never too s, lon to start planning your 2014 taxes, and the irs is giving you my new method to reclwoum the home of this tax de- cction. will you get a bigger return using the n fi mporel? tellosts a eut this n fi home office deduction. >> it is new for this year, and what the record eping is, it's enormous. the irs came up with this new methpor that they say is >> it le re the problem is the maximum deductn is $1,500, and a >> it le way that it works. not gerri: wait,he maximum deduction.
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s f dther m. what most people are already doing. it basically a pre ibed rate which is $5. the may adjusted in the future, but the maximum squarth3 is 300 square feet. $1,500 is not used deductions. gerri: let me tell you. pewill stuff into that. the average is wh600. can i do either o? s f you hav a choice, but it is year to year. wwichever one youosse, and you caboot change it for that year. you need to stick with it, but what i always say is, i am all abt the numbers. you ve to run both ways and see becedsse me5 with the irs says per square foot. the york, new jersey, very high areas are you mig b havthis t3 >> it ty of large mortgage, property taxes and utility bills, the percentage of the homeless youostse is going to be wl in excess of $1,500. gerri: do yyu think that this
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meansostltimately they will go to some method like this where that deddo yotion is smaller thn pewill >> wt they are trying to do a is making it easier for some pewill is easier method and possibly not realize thathey are pudifing, you know, verses pushing all of these extras into the office deddo yotion whn you do the long form method. what they are thinking is maybe p3 thple will take the easy road. gerri: that is or is going on here. let me ask you this becedsse i know that the home office deduction is oft a red flag and can attract an audit. g calculation which results in more than $1,9pb
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about something -- you should not be worried about doing something you are allowed to do. gerri: what is your biggest woy? >> the biggest worry is probably taking too much in charitable contributions. i think there is a very easy calculation to take a look at and iyou're making hundred thousand dollars, that is small, but if you can substantiate because maybe you're a retired person. 100,000 as of pension income, t you have huge portfolio sitting there for 5 million you could take 50,000 charitable deductions. substantiated. gerri: document, document, document. good to see you. >> nice to see you as well. gerri: ale for this mission i upgraded your smart phone. ♪ right. but the most important feature of all is... the capital one purchase eraser. i can redeem the double miles i earned with my venture card
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these homes were sites of homicides or suicides. would you buy a home where a tragic death occurred. here is what you wrote. >> if in a prime location, and the price is insanely cheap yes. >> i'll tak a pas i don't know i might do it, we asked the question on gerri willis. com, 30% said yes, 70% said no, new jersey officials aflawed fact that 95% of insurance clas in wake of superstorm sandy have been settled, but 1 in 4 of those claims have resuld in a no settlement. 100,000 claims got no money at all, some insurers are over estimatinghe aim of flood damage, and underestimang the
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amount of wind damage, the gornment pays out flood claims. and private insurers cover wind damage, which may bode ill for viims of the ma-tornado in moore, oklahoma, saying they have been limiting their coverage. now, both andy and moore tragedy ould be call to action for homeowners, youay think you are safe because housing prices have come down but you need to consider replacement value not market value,o fd out if your home is under insured check ought acue coverage.com. that is imptant. coming up tomorrow, how many calories are in that big mac or that subway sandwich? you grabbed over the weekend. the results of a new study that shows how much we und estimate
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fast-food calories, that is it for tonight's willis report, thank you for joining us, have a grea night. lou: good evening, thank you for being with us on what has turned out to be a rord setting portfolion ll street. st week there were endless predicon z of pullback or coection. following market's first 3 day losing streak of the yr. but today a broad rally, and nothing but bullish sentiment. dow jes gaining 106 points, ending at a new record high. s&p up 10 points, closing just 9 points below its all-time record. and the nazdaq up 30 on the day, stock pricing surging after central banks reassured investor
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