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tv   MONEY With Melissa Francis  FOX Business  May 29, 2013 5:00pm-6:01pm EDT

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as currency. liz: ina said the greatest risk for money is secular rotation. a friend of mine wrote in and said his girlfriend is spending too much money. david: money with melissa francis is next. melissa: i'm melissa francis and here's what is "money" tonight. a deadly virus spreads. it is killing more than half the people it infections. health officials call it a threat to the entire world. how much damage will it cause the global economy if it spreads even further? a revolutionary idea to lock in college tuition shun rates. texas has the big idea. they will tell you why other states should be taking note. who made money today, investors in one company that aren't just taking home the bacon. they may be rolling in it. can you figure out who it is? i have no idea. keep watching. even when they say it's not it is always about money.
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melissa: so we start tonight with what the world health organization is calling the greatest global health concern. it is a new sars-like virus. the middle east respiratory system corona virus or mers already hit eight countries across europe and the middle east. so far there have been 49 confirmed cases and 27 of those, more than have, they were fatal. you remember the panic and subsequent economic impact of the 2003 sars outbreak. are we looking at another global outbreak with severe economic consequences? here for more are dr. ernest -ppatti, senior attending physician of emergency medicine at st. barn bass hospital in the bronx. and my favorite economist, peter morici. thanks to both of you for joining us. dr. patti, let me start with you. how is this different from the other sars virus? >> there are actually a lot of similarities, melissa. the problem when you have
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viruses like this, viruses are simple and they easily dapd to changing environments and it is quite scary because we don't know how the virus is fully transmitted and we don't know its natural harbors. melissa: i heard it described as less contagious but more deadly. of those two i don't know which one i want. they both sound horrible. >> they both are very concerning, and half of the cases they diagnosed reportedly resulted in death. that is something very concerning the world health organization is right to raise the alarm about this. melissa: peter, that is what makes me nervous when the wto steps in and says this is the issue of greatest concern around the world, that makes me nervous. this could keep people at home, stop travelers, stop businesses from traveling. and really slow down a recovery that isn't that robust in the first place. >> well absolutely. the recovery is really nott3 very strong in 2013. it is much less than 2012
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and something that was widespread that covered several continents caused people not to travel. took at random critical personnel out of organizations, you know because they get very sick and some don't return. it has the potential to slice a percentage point off of gdp. when you start looking at something like that you could derail the recovery, that is possible, yes. melissa: dr. patty, what is the appropriate response to something like this? >> first you have to isolate cases like this and i think that's the goal right now. they're effectively doing that but we really need to find out more about this particular strain of virus. don't forget, as peter mentioned with air travel, this type of virus can spread like wildfire and we don't want to have another global epidemic. melissa: absolutely. peter, one thing that makes me nervous, this has been tracked through the middle east and of so many business travelers, you know, right now going through that area in particular, when it is isolated in asia i think people feel safer for one
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reason or another, that they can stay away from that region of the world but this is a central area where people are traveling through on business and where the economy is really flourishing. isn't that a concern? >> absolutely. there are two kinds of places, those that are not in the global network and those that are. places like shanghai new york and dubai and so forth. when tough in one of those locations if it can spread person-to-person, think what goes on in airplanes. it is very easy for one or two people to get on with the virus and 30 to get off with the virus. they go to other places and other places and other places of the before you know it, not only do you have the problem of sickness, you have people afraid of being sick. pelissa: right. >> that can even be more devastating. melissa: absolutely. sound like a terrible movie. pharmaceutical companies i would imagine, are they already racing to do something about this or is it too early? >> well it is still i think at the early stages. don't forget, we, most human beings get complacent a lot of time with anti-bacterial
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this and anti-bacterial that. common sense dictates preventing this in a lot of case. >> what can i do? >> we think it is spread by droplet or respiratory droppest are. what i mean a person sneezes or cough and the micro aerosolized go on doorknobs or countertops. you put it into your mouth or nose and transmit it to yourself. melissa: disgusting. >> that happens every day and people are touching their faces with inanimate objects. war something very important. if you're on a plane people are coughing and sneezing you want to be sure to take precautions. some people on a long plane fight would wear a mask. melissa: would you do that right now? >> if i was flying to one of those middle eastern countries i would probably consider it, i would. melissa: we don't know if this is transmitted by droplet. >> they're not sure. they assume it is like corona type virus it could be transmitted same way but they're not certain. it could be another way of
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transmission. these are early stages and still needs to be investigated. >> peter, do you imagine that pharmaceutical companies and companies from economic perspective are raising to get involved in this and do something about it that would help the world and also help their profits?. >> can't blame them for doing that. melissa: no. we need them. >> you know, don't have no know enough of a virus to come up with a vaccine to go into the flu shot or some sort of anti-viral drug. and what we're hearing from the doctors that we know so little about it and we haven't adequately isolate it. if you don't isolate you can't address it, isn't that right, doctor? >> yes, that's correct. don't forget they also found cases in germany and france. we know about france and germany and great britain of isolated cases as well. it is in europe as well. melissa: gentlemen, thank you so much. we appreciate your information. >> thank you very much for having us. melissa: time for today's fuel gauge report. total, the french oil giant is feeling the wrath of u.s. and french officials t has been smacked with a $398 million fine for allegedly
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making corrupt payments in iran for years. officials plan to bring total and its ceo to trial over charges in paris. exxonmobil expansion of the oil project in canada is 30% complete. that is according to exxon ceo rex tillerson. it is on target to begin operations by the year 2015. the project is expected to produce $4.6 billion barrels of oil over 40 years. oil futures sank to a low after concern about chinese demand and caused a selloff in prices. crude went down to 92.13 a barrel. next on "money," why are companies hiring old bosses that already said sayonara? will places like proctor & gamble and jcpenney turn companies around? steve forbes joins us on the power of money. plus how texas may have come up with the best solution for soaring college costs well, since college.
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we have got the details. more money coming up. ♪ . (announcer) at scottrade, our clnts are always learning more . (ann) toelp me plan my next move, i take scottrade's free, in-branch seminars... (ann) toelp me plan my next plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every st of the way. because they know i don't tre like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies."
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♪ .
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melissa: call them the boomerang bosses. ceos who leave their company and get called back to retake the helm after their successor, well, performs a little poorly the latest two examples are newly reappointed proctor & gamble ceo a.g. lafley and jcpenney ceo mike ullman. what is with the second chances especially, they were originally fired themselves. surely it is an example of the power of money or vintage money maybe. my next guest certainly knows a thing or two about all that. steve forbes is the chairman of forbes media. great to have you back on the show. >> thank you, melissa. melissa: have you noticed this trend? people like old school, steve jobs, howard schultz, who invent a company, you know, and they get it off the ground. they leave and it sort of wobbles and they have to come back and right it, that's one thing. but these other guys like a.g. lafley or myron ullman who was basically ousted out of jcpenney for poor performance. they put somebody else in
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and got to bring him back, what does it tell you about a company? >> what it tells you they made the wrong decision on succession. it is one thing for a founder, no one likes to leave the corporate thrown. melissa: yeah. >> so they want to get back. it doesn't always work the former head of occidental tried to get back, got tossed off the board for his efforts. they did not want him back even though the current ceo had certain questions about his performance. >> in the case of founders they always know how to do it better than successors. in the case of a starbucks it certainly has worked out. steve jobs as you alluded to, was fired from his job. melissa: right. >> took him 12 years to learn how to be a ceo. he was a terrible leader in his 20s. when he came back, he was a formidable one. melissa: what did he learn? how did he learn this time around? >> he learned how to attract talented people, how to get the best out of talented people even though he had a prickly personality. that was a painful process. took him 12 years to do it. became a great corporate leader, one of the greatest
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of all times. without that 12 years in the wilderness he never would have been able to do what he did. melissa: the stage would not really be set for michael dell. >> there's a man who left the company. came back not because of the money. he is a very ealthy man. melissa: suree >> because he felt the company was starting to flounder. the stock collapsed. what he has discovered turning this thing around, reshaping the company is formidable. what he is doing the buyout for is not to do a financial engineering deal but he think i realizes there will be real blood on the floor to reshape this company. he does not want to be part of the shareholders. he wants to do it on his own. he thinks he can do it and only one he can do it. melissa: do you have confidence in him? look what has happened to the company since he came back in 2007. the stock has fallen almost 50%. >> i think the slide was already beginning before that. melissa: yeah. >> and the prospect of him coming back boosted the stock initially but i think he wants to move away from the stock. this is his baby. he wants to be able to have a chance to revive it.
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he knows it will take massive surgery. he doesn't want quarterly reported shareholders on his back. melissa: is it hubris when these guys come back? they have been on top part of one reason or another. >> part of it is ego. they love doing it. it is really the entrepreneur. the entrepreneur created something. this is his creation. when he sees it is not being run the way he thinks it should be run, getting away from the original spirit he will come back. in the case of penney, that was highly unusual one. melissa: that is exactly where i was going. bless his heart, myron ullman, he was out ofed from this company. it is not like -- >> here is a very strange case. everyone felt jcpenney was on a slow decline. so they bring in ron johnson. had a great record at apple. great record at target. target as the kills call it, and massive failure. they didn't stick with him. he didn't provide the money to see this thing through and hired his predecessor. melissa: do you think that was a mistake, that they should have stuck with ron
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johnson? >> they should have known once the thing started to flounder that the time to reshape this thing would be massive amount of time. now where are they going to go? i'm not sure how long mike ullman will be there. what they have to do is stop the bleeding. that is what he is there to try to stop. melissa: do you think he is just temporary and think the same thing about a.g. lafley or is this -- >> lafley left in a blaze of glory. the company was stiltfied and turn it around and unfortunately successors had problem. that is not more of a leisurely case but a case where they have to bring in new talent. they're a little short on the top bench. it will take him a couple years to do it. but he had success where ullman was seen, you didn't do that very well. compared to what? melissa: yeah. i think that was the biggest surprise of all of them, when they said they were bringing ullman back a lot of people couldn't believe it. you think that is very temporary where they do some sort of search because they weren't happy with his performance in the first place? >> the equity funds got to sit down and figure out what should this company be? where can it go?
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then be willing to provide the resources and the time to turn the thing around. these quick turnarounds only happen in movies. real life it is very difficult. melissa: steve forbes, such a wealth of knowledge. thanks for coming on and sharing it. we appreciate it. coming up on "money," college costs are skyrocketing but what if you could lock in the few wigs rate. it is a revolutionary idea gaining steam, where else in texas. wait until you see what they're doing. plus one of the america's biggest companies is spending $15 billion to what a good idea! maybe this will get california and new york to snap out of it!. do you ever have too much money? ♪ everybody has different investment objtives,
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the rate for four years? it is a bold new plan by a texas lawmaker and would require state universities to offer students tuition at a fixed price. fox news's casey stiegel is in dallas with the details. casey, i like the sound of this. >> hey, melissa, i like musical interlewd coming back in from commercial break. right now is graduation season of the a lot of kids are heading out into the big world with big bills, no doubt about that. college loan debt in this country has topped $1 trillion. that is trillion with a t. it has surpassed all american credit card debt combined. lawmakers here in texas taking steps to make the cost of higher education, not only more affordable but also more predictable, the legislature just passed a bill that would require state universities here to offer students a tuition freeze. meaning, they can lock in the same rate for all four years. a huge advantage when you
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consider college tuition rates are surging every year, up to four times above the regular rate of inflation. >> institutions have incentives and right now their incentives aren't based on providing students with a good value. right now they're based on getting students in the door and getting students to pay as much as they can. >> this bill now has to clear the state senate but some schools are already doing it voluntarily like on the ut-dallas campus for example. it only offers this fixed tuition aad the students we talked to there, it i am nates as you can imagine a whole host of hassles. >> it extremely frustrating for students like me to have a university comes in hey, when you start university, you pay x-amount, and when you finish the exact same amount. it allows me to plan my entire financial future that way. >> texas governor rick perry are urging state schools to
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offer a $10,000 bachelor's degree and nine schools here already started doing it for certain majors. florida and wisconsin governors by the way are also looking at similar plans for students in their states because, melissa, as you know, the cost of going to college these days is so outrain just, many people now kind of -- outrageous many people are opting out because they just can't afford it. with no guaranties finding a good job in this economy once you're out, it is a lose, lose situation for a lot of young students. melissa: it sure is. a $10,000 bachelor's degree is a step in the right direction. >> it is. melissa: great report. >> yep. melissa: whether on wall street or main street here who made money today. investors in smithfield foods, one of the china's biggest meat producers is buying it for $4.7 billion. the news sent shares of smithfield foods through the roof, gaining 28%. if approved by regular regulators it would be the
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largest takeover yet by a chinese company. losing money today, netflix. as if mediocre reviews for "arrested development" were bad enough, it has been illegally downloaded more than 100,000 times since sunday's debut? can you believe that? netflix makes 7.99 a month per subscription. that lost revenue could buy a whole lot of frozen bananas the. trying to make money today. bruce willis is putting his beverly hills mansion on the market for $22,000. wow! it is 11 bathroom and bedroom estate. and includes a pool. he bought it for $9 million in 2004. if he gets his ask a nice piece of pocket change. california and new york are already blowing it on tracking. a $15 billion is investment in in fracking is here to stay. we'll tell you who is anting up big-time.
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who do you trust. top earners in the u.s., families, what does that say about the state of our economy? a power panel weighs in. more "money" coming right now. ♪ . before copd...
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move. shares of nbn energy. midamerican energy is owned by berkshire hathaway will acquire nbn energy for $10 billion or 23.57 a share. they serve 1.3 million gas or electric customers in nevada -- nv energy. it is investing $15 billion in fracking, which probably means the method isn't going anywhere anytime soon, right? despite states like california and new york doing everything they can to avoid it. what exactly is ge buying in big-time? nick loris is energy expert from the heritage foundation. nick, welcome to the show. i like this quote from a senior vp at ge, mark little, said the company did nothing in oil and gas over a decade ago but they have invested more than $15 billion in the just the past few years. why do you think we're seeing the big switch for them? >> well, oil and gas development has really been one of the bright spots in the u.s. economy over the
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past few years and with the glut of oil and natural gas that we have here at home, it makes sense for them to be investing in it. we use it as a critical resource for electricity, for transportation fuels. so why not? melissa: well, because it is not without controversy. there is a lot of backlash bense fracking. if you listen to folks in new york and california, especially california. they make it seem like it can be stamped out and stopped, ge isn't a company to really take a flyer. it is a very large company. if they're going to turn the ship, like a huge, you know, battleship. it takes a while. so for them to decide to make this kind of strategic move, it's a bet that will stay here for a while in spite of the fact that there are so many people fighting it. >> it is and it has been around for a long time too and i think that's one point too people often forget that we've been fracking here in the united states for about six decades now. when you see the success stories in places like north dakota, pennsylvania and ohio where jobs are
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being created, energy is coming out and it is lowering prices for american consumers, to me it sound like a sound investment. melissa: yeah. mark little also drew parallels between ge's work in the aircraft industry saying that many decades ago when they got into the business of flying that was considered dangerous as well. would you say that this is, this is a vote of confidence for the fracking industry, that it will be able to overcome oppositions from those who think that it's not proven and safe from an environmental standpoint? >> i think so and ge usually taking the path of rent-seeking for subsidies when it comes for wind, solar, other renewables that heavily rely on taxpayer dollars to succeed. here the technology and two sources of energy and oil and natural gas that haven't needed help from the federal government by means of subsidies. i think with again the glut of natural gas and oil that we have in the united states and the important role that fracking is going to play to extract those resources,
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yeah, i think it is here to stay for a long time. melissa: do you think they should be worried from a pr point of view? ge is a company that has taken a lot of heat over the years for various things. it tried to reinvent itself as very much a clean company, at the forefront of clean coal? you mentioned what they're trying to do in wind and solar energy. from a pr perspective, do you think this is a smart move to get involved in something where there are hollywood movies telling how bad fracking is? >> that's a great question. and i think they will receive a little bit of backlash from that, again especially for the amount of money they poured into renewables but at the same time, natural gas is often sold as a cleaner, fuel than coal. so, you know, that i guess remains to be seen and again it's a resource that we've used for industrial processes for a lot of our electricity demand and it is cleaner than coal but at the same time, it succeeded in the marketplace without federal help. melissa: yeah, nick, there you go. thanks so much for coming on. appreciate your time. >> you bet, thank you. >> a stunning new statistic.
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i can say that, is a clear sign of the times. an extraordinary 40% of the u.s. households with children now boast the mom as the primary breadwinner. we have really come a long way, baby. researchers behind the pew study says the trend is all but irreversalable. how did we get here and what is in the future. we have all-star panel. hadley heath. noell nikpour is with us and julie roginsky, a fox news contributor. great to have all the ladies -pwith us. >> thanks very much. julie, were you surprised at this number? i was. 40% are the primary bread winnerses. that is almost half. >> i'm not college at higher rates than men. guys, have to step it done because women are graduating in much higher rates than men are today. you have a rise and spike in single mothers. melissa: yep. >> single parent households. combine the two trends makes perfect sense why women are
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doing so much better. you have a more educated workforce and workforce where women are the sole breadwinners. combine those two factors, how could it not be? i'm not surprised it is not 50% at this point. melissa: hadley, what do you think about that? what do you think of the stat that a lot oo households have just one parent bringing in the money? >> that was exactly my first reaction. aren't they considering how many single parents households are led by mothers. of course those women are breadwinners. it is not always by choice. so the statistic doesn't indicate good news. it could also mean bad news for a lot of women who are breadwinners by necessity. melissa: noelle, what do you think about that? what are your thoughts? >> first of all, melissa, ladies rule. this is fantastic. the second thing of it is, we're encouraged to get our degrees and become professionals. when we go to college we want to be able to use those degrees. so you know i think you're seeing a little bit of this, i was not shocked at all about the 40% because i know a lot of ladies here in arkansas, texas, new york,
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florida, that are actually the one main breadwinner of their family. so i'm seeing it as it is happening. i think that, you know, eventually the role of the traditional stay-at-home mom is going to become somewhat of an antique. melissa: well, i mean the whole thing about choice everybody should have the choice to do whether they want, whether working or staying home. we all respect each other's choices. i thought what this kind of proved there are more choices out there, that maybe women are as able to go out and be the main breadwinner. possibly it isn't as hard for women to earn the same wage where they can support their family. so when you have a family, with two parents you can decide who can go work. maybe if the husband gets laid off, gives the woman an opportunity to go out to support the family. you have more options. what do you think about that? let's let julie go. >> yeah, look i have friends who actually have husbands who decided they would stay home with the kids and the wife decides she will go out and be the main breadwinner.
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think that's great. it is about having options. i know woman who have no choice but to work and rather be home from the kids. it works for different people. i stayed home after having a baby for two weeks and incredibly relieved to go back to work. exactly right. a lot of people don't feel that way. a lot of people wanted to stay at home with their baby. a wonderful option for woman but sadly many don't. melissa: hadley, what would you say? >> i don't an about the statistics what choices are available for women. this is just result. >> why do you say that? just to go through the stats 40% of the households woman was larger salary and primary breadwinner, 2/3 of those it was a single household and one-third both parents were working the mom was actually making more. >> right. melissa: that says something about the ability of women to earn the same or greater wage, at least that one-third group? >> of course. i'm not questioning women's abilities. of course women can do anything men can do, maybe
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even better sometimes but this is not a case where you're asking women in this study if for example was this your ideal world this be your preference? another study from the pew research center found 23% of the married mothers would prefer not to work full time. pome women toochoose to stay at home. god bless them if they have the opportunity to do that. but this particular statistics doesn't tell us about what their preferences are. melissa: does anyone ever ask men if they would prefer to stay at home? if they rather the woman was supporting the family and they could stay home and not work and take care of the kids? i throw it out there. >> we should. we should ask them. melissa: we don't often say that. go ahead, noelle. >> i wish somebody would have shown this recent poll to paul tudor who made that horrible comment that, you know, that he didn't see much use for the women investment, that there weren't a lot of successful women investment bankers and --. melissa: you're talking about the quote that paul tudor jones made, it was a poor choice of words but what he was trying to say
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the particular job he was talking about is a 24/7 trader. if you're going to be available to trade around the clock it takes a very specific kind of person who basically isn't attached to anyone. i think that person is not a great mom and not a great data moment but probably not a job you have for your whole entire life. maybe you do that for a period of time when you're younger. unfortunately he said as soon as women have children they're not, i don't want to paraphrase him incorrectly and further, make this argument even worse than it already is but what he was talking about, i mean i think would have applied both to men and women. >> yeah. melissa: i don't know. julie, final thoughts before we go? >> i got to tell you if you're a guy and have a baby and trade 24/7 i don't want to be married to you. i don't want to be married to that guy. melissa: that's my point. that guy is not a great dad either. thanks for coming on. wish we had more time. we'll do it again. here is our "money" question of the day, moms are now the top earners in 40% of the homes. how about your home? does it ring true?
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we want to hear more from you. phrase book.co book.com/melissafrancisfox or follow me on twitter @melissaafrancis. coming up, the nfl is encouraging players to intern on wall street and give them a second career when they're done with the league. a buffalo bills lineman beefing up his resume' with a internship at bank of america, merrill lynch. he will tell us how he will make sure he doesn't go broke. because at the end of the day it is all about money. in today's markets, a lot can ha in a second. with fidelity's guaranteed one-second trade executi, we route your order to up to 75 marketenters to loofor e best possible price -- maybe even br than you expected. it's all part of our goal to ecuteour trade in one second. i'm derrick chan of fidelity investments. our one-second trade execuon is one more innovative reason
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♪ . melissa: from the nfl to internship, believe it or not professional football players are taking advantage of opportunities off the field to prepare for
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melissa: how did you find out about it and how did you decide what to do? >> well the nfl offers internships with companies around the country and each team has a player development person that works in house with you and presents these opportunities to you and, i heard about they were doing one with merrill lynch and i had a economics degree from vanderbilt. so i was really interested and perhaps pursuing a career in finance when i got done playing football. so i reached out to them nd they put me in contact with merrill lynch and a great financial advisor, jim graves interviewed me and was willing to take me on as an intern. melissa: you're training to -pbe a trader, wealth manager or what is it specifically you learned how to do? >> i interned with private wealth management with merrill lynch.
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so just all the things that go into financial advising and asset allocation and market research and everything that goes into that. melissa: it makes a lot of sense from the outside to people. you know some people think that players make millions of dollars and they're on the field and they make so much money, that you don't need to plan for the future. others realize, an injury can instantly take you out of the game. at the same time, you know as a professional athlete you're supposed to be totally focused on your career, totally focused on the game, believing in yourself 100%, believe that you're going to be in it forever. so it seems like having a plan b, doesn't go with the psyche of a being a professional athlete. how do you reconcile that? >> well, i think you always have to have a backup plan. you can get injured tomorrow and you could never play again. you could get cut tomorrow and never play again. so like i heard you saying before the average career of an nfl player is only 3.5
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years. so i know that. i'm going into the fourth year. i might understand i might not have too many years left in this game. i have to prepare myself to take care of myself and family when i get done playing. while i'm still here i'm 100% focused getting the job done at hand. during the offfseason i need to take time to betttr might have self as a person to help me. melissa: what was the reaction from your other teammates? i would imagine in the off-season maybe they're having a great time. here you are working. was, were other people doing things like this? also you have a degree in economics from vanderbilt. so you have thought about these things but not everybody, are there a lot of other players have a plan b or would you say that you're the exception? >> i wouldn't say i'm the exception. you hear about tons of guys that have businesses on the side. i know a couple other guys did internships. they offer these business management entrepreneural programs at some of the best business schools around the country. i did one at wharton this
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off-season. they do them at harvard, northwestern, stanford. they have many opportunities for you and i would say the guys understand that they're not going to play forever and only a few guys make that huge amount of money where they don't have to worry about working when they get done. so i think everybody, i guess kind of proud of me i took the nichetive to -- initiative to get something done when i'm out of football. melissa: good for you. thanks for coming on the show. >> thanks for having me. melissa: up next, does this teapot look like anyone familiar? look at it? the resemblance to one so famous dictator, jcpenney sold out of these things. that has not stopped many shoppers from getting steamed. we'll explain why in spare change. you can not have too much money. ♪ . you make a great tea
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do you see it. before that, i don't know. after the buzz -- the whole inventory sold out in a matter of hours. i mean, what do you think? >> listen, this is the last thing that j.c. penney needs, a decatur -- dictator small appliance line. i don't think it looks like killer at all. i'm sorry. i don't see it. melissa: what do you think? did not see it in the regular picture. i thought it was a very key teapot with a bell on the end. of course, and we juxtaposed with the picture, there you go. >> the thing they're on to something. of holt series. miscellany latte machine. [laughter]this dahlin dear stei. this is a whole theme. continuation. >> the tempest in a teapot. melissa: this could be a big comeback for j.c. penney. i love your idea.
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pat and that. don't call in, they will make you the new ceo, and you don't want that job. don't do that. next story, the hamptons, one of the most sought after and coveted places around, and the pined season -- the time season for renting as beautiful homes has arrived. this year it comes with some big dollar signs. brokers are estimating half a dozen homes are renting for about a million dollars. just for this summer, to break that down, that is $9,803 a day. 800 -- i'm sorry, $408 per hour. does this surprise you? >> as if the hamptons could not get more obnoxious. the people who rent homes like that of a once a cut in front of you on the big a line or in the deli line out there. i have been there. i don't go any more. melissa: they don't eat bagels. >> oh, yes they do. yes they do. they are cutting right and left. melissa: they have chefs. the chefs are cut in
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>> they go out and get their little coffee. melissa: what do you think? do you have a home that is $9,803 today? >> i don't, but if i did for -- melissa: you would get the teapot? >> in the know it's been the next two weeks and nike of furnishing it at 20 pallets of furniture. someone be over. >> you drive for two hours to sit at someone's house. melissa: they don't. they take a helicopter. up next, think your password is safe? think again. an experiment, 18 of hackers successfully figured out 90 percent of more than 60,000 passwords and less than an hour, and that eeen includes a 16-character passwords. do you think your pass received? no. >> different ways. >> a terrifying story that they could crack. in less than an hour. holy mackerel. melissa: why do we even have
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passwords then? was the point? >> true. and listen, these guys are pretty smart. they managed to crack 90% to then, of the passwords. over 16,000 passwords. these were not easy passwords. extremely complicated. >> if you make up a pass or that someone cannot cracky have absolutely no hope of remembering it, so what is the point. all right. next one, so check that out. that is an extreme sports stars setting a record-breaking dive. wow. look at that. jumping off of the north face. oh, my gosh, of mount everest. a jump that took two years to prepare, four days to climb the north face of everest, all four look at that. >> it was really all inspiring. this is the same night that jumped into an active volcano in the far east and is also leapt
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from a big mountain in the antarctic and the himalayas, so he has been doing it, but to jump into an active volcano. melissa: have you jump into an active volcano?3 does is spew you back out? county you jump into an active volcano? i don't get it. did you bring any answers? >> i am curious as to why rebel seems to have an extraordinary amount of disposable marketing dollars that anybody that some straw high place they feel compelled -- compelled to sponsor. melissa: of those is disposable. this seems like a very clever way to spend marketing dollars. more work on the active volcano. >> it is a developing story. melissa: 70 you feel about the craze. i did not know this. a gun that hybrid because you don't have enough oil in your body already. one particular bakery in new york city is selling these tasty
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treats. they have now become so popular that there's a line of the door everyday debt snag the daily make. now, on. only in new york scalpers are taking advantage in selling among craigslist for $40 each, that includes delivery, i would hope. i don't know where to start. would you pay $40? there has to be a service charge and probably tax and all of it. >> i would pay substantially more. the combination of dough, sugar, and butter all melded together in a variety of flavors. it's pretty good. melissa: wouldn't you just vomit? this seems like a lot to digest. >> you know what i would do, i would pay $10 to buy a box of eclairs and put plays on them and sell them to the gentleman. melissa: maybe that is what is happening.
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had we know they are authentic. this is somebody out there? >> the fraudulent scandal. melissa: it could be. so, last one. imagine being able to get a massage at work. a report by bank of america says 31% of small businesses provide extra special amenities like massages and healthy snacks. do we think this is cost-effective? melissa: this has been going on for really long time. they cannot afford expensive health coverage so instead we will give you a massage or healthy snack. i think it is a great idea. melissa: really? >> i would rather have a massage melissa: what do you think? >> that would be very happy. melissa: you would much rather have that. a massage. >> and i'm done. take away my vacation. melissa: why don't we get massages your? >> i don't know. we should definitely work on that. melissa: thanks.
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you guys were fantastic. that is all the "money" we have today. you will see you back here at the same time tomorrow. here comes the -- "the willis report" next. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report", returning conventional wisdom on its head with this question, which is of year, eating a cheeseburger or running a marathon? also, password protection. hackers just cracked even the strongest passwords. and we are going through the list of cars with the most safety complaints. where do you rate? we are watching got tonight on "the willis report." ♪ gerri: our

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