it should raise an eyebrow. neil: that is a an a yes. >> guys, we'll continue this tomorrow, go vote. gerri: hello, everybody. i'm gerri willis. tonight on "the willis report" new details on why the ag on a flight crashed in san francisco. what investigators are now focused on. >> we are working to interview all four pilots. gerri: also, even more changes to obamacare just days after the white house reversed another key provision of the law. the latest details. and is -- its money-saving monday. how to avoid the ripoffs and supply charges next time. we're watching out for you tonight on "the willis report".

♪ gerri: right to our top story tonight. investigators are still trying to determine what led to the fiery crash. the pilot was still training to fly that plane. th airliner was flying well below target speed before the crash. the crash killed two people and sent more than 180 passengers still of hospital. what prevented this tragedy from being even more tragic? with more on this, former vice chairman of the national transportation safety board and flht safety tens board member. great to have you here. i saw in this video the fireball , smoke, and an island at 307 passengers managed to survive this crash. why is it that people can survive this kind of crash and what kind of crash is survivable?

>> well, i think the main answer is that over the past 2225 years a lot of very smart, dedicat people all of the world have been trying to figure out what you have to do to make crashes survivable. this is everything from construction of the aircraf to how the seats are tied down in the airplane to what kinds of fabrics, nonflammable fabrics. where the exit doors should be. a lot of work. gerri: small changes that really add up to a lot to. better safety doors. battersea technology. exit seats, fireproofing. a stream fireproofing. of course we read about the heroes who actually carried people off of this plane. when it comes to this kind of events, these massive jumbo airliners really survive better

than smaller planes. we saw the alaska flight crash that killed ten people tragically this weekend. what is the difference? >> well, a lot of the difference is the strength of the structure you know, obviously triple seven is a lot stronger than a piper for small aircraft. so, you know, it is not always the case. sometimes small aircraft and find a place to land with a big one couldot. as a general rule the resistance to damage of the big airplane is going to be better. gerri: this pilot who is being questioned presumably with their relative to be to flying. his first landing, this was the result of that. is this pilot error? is this not enough training? what is the problem? >> i think that there is clearly

a training issue here. he is being supervised by the other pilot. that pilots should have been right on top of what was going on and giving direction to the less experienced pilot. gerri: some people have said it could have been a cultural issue carian culture, some people did not want to question the pilots who is guiding the plane at that time. do you buy that? >> well, it looks to me like it is reversed. a senior pilot and a more experienced pilot as i and a stand it was in the right seat. he was to -- training in bringing the pilot along. so you had a pilot with thousands of hours in this aircraft in the right seat as the supervisor.

and the pilot with 40 or 50 hours in the left-hand seat. i don't think that is an issue in this case. gerri: the headline on the wall street journal today, pilot errorn question. do you believe that is the issue? >> i would say that based upon what we know at this point that is certainly going to be on the top of the list of things that the safety board is going to be looking into very closely. gerri: one of the other quesons that came up which i thought was interestg, the glide slope system, helping pilots stay on course. my understanding was it was shut down. i am not sure why. what role did that play? >> i don't think that played any role in all. aid is very important when you're visibility's bad. but they had indicators of

whether you were up well below. on the field. static indicators. so they had that. they had their eyes on a day when visibility was no problem. gerri: well will be the key fact that investigators will be searching for as the investigation that's underway? >> i think they're going to obviously -- human performance is going to be high on the list. they will be going through all the other things, the aircraft and performance of the aircraft. obviously the fields and the navigation. they will be c checking the ones that were there to make sure there ron, to make sure that there were accurate. air traffic control is probably not going to be a big issue. it looks like human performance is going to be the thing that there will be spending a lot of time on. gerri: thank you for coming on tonight. interesting interview and we will be watching.

of a how long it will take is to get answers, but thank you for helping this. >> you're welcome. gerri: the pilot limited boeing experience, and flying significantly slower than normal before crashing. should they be more concerned? with more on this, thank you for coming in the show tonight. should we be worried? >> well, to be honest flying is as safe as it has ever been. with this accident right now there is a lot of worry that the planes are so smart to and the air-traffic control system so smart, pilots are getting enough manuel time to handle issues that occur outside of the norm. to the point now where aircraft are so srt that they basically can take off and land themselves except when issues occur. obviously this is a pretty big issue at this moment. i've flown several times. i would get on one tomorrow if i needed to. i don't feel like it is overlyy3

and save. probably more of an issue that i do getting an aircraft. gerri: more at risk in the car. those are the numbers. you raise an interesting question. pilots getting the kind of experience that they need now the technology has taken over the cockpit and taken over airports? they're is a move to extend some of that experience. by january of next year there may be more rules for trading pilots. you have to wait and see. you bring up. do you think that most americans trust foreign carriers to back. >> well, i think that most people are introducing because they cannot fly in the united states domestically through alliances and mergers and partnerships. and so they assume that the u.s. partner basically has vetted this carrier and they're basically vouching for these

carriers. most passengers assume that is the case. for the most part, carriers are more associated with higher ticket prices and a more luxurious flight and they are with any safety concerns. gerri: are there differences in the way it is handled and maintained and taken care of? >> absolutely. each airline is different. they have their own regulations. for the most part it is very similar. very similar regulations. national governing body. so it looks to meet said, they are going to sort out whether or not there was a pilot issue. remember, the last fatal crash was an early 2009. it was basically deemed pilot fatigue. the fix that with new rules. if there is anything that happened that they can fix, will. gerri: i hope you'reight. as a practical matter i am wondering if flight delays and cancellations will continue. seeing a lot of that. something like this happens.

all system stops. >> it takes three or four days after an iident. even if it is weather related. crews be diverted, passages diverted. takes a lot of wind. even today there were more cancellations. so by wednesday this should all work itself out. gerri: interest -- anything you would tell of yours? these things become second nature for people to fly a lot. for people that are nervous, these kind of things help them out. the simple stuff will help you. and really the flight attendants are well-trained staff. always make sure to follow

exactly what they tell you to do gerri: they did a great job. i read about all kinds of heroes evacuating passengers coming even young women carrying passengers on their own. impressive stuff. thank you for coming on. good to see a. >> youtube. gerri: still ahead, how do you do that? expert advice on how to pay off your mortgage a lot quicker. we will be right back. ♪ clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy.

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gerri: temporary jobs are becoming a permanent fixture in our economy. u.s.ompanies are flocking to part-time workers stow still physicians and in the process raising questions over what is more important to our economy. here to weigh in, the heritage foundation. welcome back to the show. why is this happening? >> temporary employment is something that fluctuates. employers are very willing to lay off temp -- temporary employees. and so between 2007 and 2009 temporary employment dropped by one-third. since then a very sharp drop and

very sharp recovery. temporary employment is now back up to levels that it was. gerri: use a cyclical. i see it as a major problem in the economy. the jump in temporary jobs, up 50%. a total of two and a half million people, temporary workers. 17 million americans. my view when you tell me what you think that this economy just is not producing the kinds of jobs that this country needs. >> that figure, you included a lot of self incorporated or self-employed. architects, dentists. gerri: the introduction of

temporary workers among lawyers, among doctors. these are professions n where people are really just part-time workers. you know what that means as well as i do. you don't get the benefits. you are not participating in their retirement. maybe you're not getting any kind of medical coverage. so much harder for families to put food on the table and put the kids in college. you don't feel like you can plan for the future. >> certainly not. it is very well known and well

, for whatever reason, the recession, whether it was obamacare, whether it was the uncertainty in washington, this is the normal. you say? >> i think that is overblown. it is a concern. one-third of the temporary employees are in manufacturing. they have the orders coming in but there are not confident that the economic growth will continue. so they're not willing to hire permanent employees. if they had more confidence that this was for real and going to accelerate you would be seeing those turn into full-time jobs. israel and it is a concern.

an awful lot of those people are not anyone you think of. gerri: here is a number you might not expect. the unemployment level according to the federal government, 46 percent. that to me is a tragedy. so far to g in this economy. a lot of talk about recovery. when i have seen is recovery in the stock market. i have not seen a recovery that has really hit dead dinner table not yet. >> thank you. gerri: coming up, more important changes to obamacare. the latest on how you do that. we will show you how. i want to make things more secure.

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♪ gerri: a fox business alert. barnes and noble ceo is out. resigning from the post effective immediately. his resignation comes one month after the company announced losses from their next business. more than doubling in the fourth quarter. that loss wiped out all the profits from the bookstores. barnes and noble shares down 3% after hours. big story. and now on to mortgages. what if i told you could pay off your third year mortgage in five to seven years. i know it sounds crazy, but my

next guest says you can save thousands, tens of thousands, maybe even hundreds of thousands . personal finance expert, author of gnashing your debt. thank you. welcome back. people are paying interest on their mortgage. let's start there. >> happens all the interest is up front. after 15 years you might pay off 15%. this is a strategy that does not. banks won't tell you about the sale of. all. gerri: take jim mortgage and turn it into -- a home-equity line of credit. up front. this is not something for the queasy of the nervous are the anxious. this'll change alone. >> the combination.

you have to get rid of the first one. you have a mix strategy. three things need to be a limit this work. the first thing is you have to have positive a home-equity. gerri: allow the people aren't in that group. >> if you're underwater this is not for you. the second thing, aredit score of six a year higher. the third thing, yet the positive cash flow. more money coming in than going out. gerri: that's always a positive. how does this work? we put basically our mortgage into -- not a mix strategy. and just try to explain this to our viewers in a simple white. i'm making my same payment every month? >> you keep your income which is normally a city new technique down earnings zero. a liquid . but money and take out. instead of your money sitting there in nothing, is pushing down the balance every day. cystic a simple example.

$50,000. at thousand dollars. he put the thousand then. now you of 49,000 perry depressed and the balance. you owe less interest. you pay your bills. gerri: so you're running your operation out of that. here's my question. and just race changeover time. people are projecting that they have major increases. why was untraded and of six loan rate for floating loan rate? >> it's based on the prime. three and 1/4. while we sit there for two years. the idea is right. it's based on a short-term rate. with the 30-year you did about four and a half. because your paying your principal of faster because of coming even if the interest rate goes up half the rate you pay

the principal. gerri: of me asking more questions. they used to be companies that offered these products. they're virtually gone. >> you can absolutely do it. a free website to model for yourself. through an equity. the city's a bus that this did. an example of how this work. a traditional 15 year mortgage, two under and 25,000 of the about a thousand interest. gerri: it's ridiculous. >> is next? gerri: i know people would love to reduce them. the question is are you willing to make the jump? >> it's in the subject -- >> it's a mental jump. if you could pay the same mortgage using an optimization strategy would be about 22,000. fueling the 7,000 in interest and pay your mortgage of tenure center may be open your mind a

little bit. gerri: some people can't even get mortgages now. the idea of getting a home equity line of credit may be tough. >> credit unions are a good place to go. gerri: thank you for coming on. a little later we will answer the question, who is better with money? men are women. our question tonight. negotiating price better. log on to gerriwillis.com and vaughn on the right hand side of the screen in a share the results. time now for a look at stories are clicking on tonight. the dow, s&p, nasdaq all higher. interest in learning season, overall profits expected to rise. italian carmaker fiat increasing its bid and chrysler. already house nearly 6 percent of the company. fighting with united autoworkers to buy the rest. the uaw won a higher price. americans are taking on more debt. jumping but the most over year rule leaf.

when twinkies and back on sale the level under a shelf life. the older and twinkies, when stale after 2016. it was will stay fresh for 45 days tehran. as a somehow stories right now. new figures on one part of the recovery was dragging on the overall market. in the housing bubble there were called liars loans. they'll bring the economy to its knees. you tell you how they're making a comeback a different way. this time with obamacare. ♪ every parent wants the safest and healthiest products for their family. that's why i created the honest company. i was just a concerned mom, with a crazy dream. a wish that there was a company that i could rely on, that did all of the hard work for me. i'm jessica alba, and the honest company was my dream. [ male announcer ] legalzoom has helped a million businesses

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launch your dream at legalzoom today. the pursuit of a better tomorrow is something we all share. but who can help you find your own path? who can build you a plan, not just a pie chart? who can help keep your investments on course, whatever lies ahead? that someone is a morgan stanley financial advisor. and we're ready to work for you. geri: more good news for housing market. number of homes with underwater mortgages continues to decline,

that is a huge plus for homeowners, peter barnes has details and more. >> we start with delinquencies, they are down 15%, behind that is improving home equity. fallen about 50% in the last year. thanks in part to rising home prices about 7.4 million borrows owe more on their loan than the value of the property, down from 13.9 million a year ago, and peak of 17 million two years , more homeowners with positive equity in their homes helps keep down late payments and foreclosures, they are less likely to walk away from their

properties if there is equity and upside, but the housing market not out of the basement just yet. >> we had improvement. but look at where we were before the crisis from you know 1995-2005 period. we're still about 50% higher than on the delinquency side. >> reporter: the foreclosure side, are still 6 times higher than golden days of 1995-2005. still, more hling to do in the mousing market. but, we'll take the good news. gerri: i like that good news, thank you peter. >> okay, thank you. gerri: well more obamacare dominoes falling, administration is making it easier to qualify for government aid through obamacare, people don't have to proven come to qualify, like those liar loans in housing market that heeped to blow up the economy, all this top of two

other big changes as well. why is the administration doing this? describe in more detail the step they are taking. >> the basic problem i that enforcing the law, making sure people are huge undertaking, have you to do all these things to figure out whether they have been offered affordable coverage by definition of the law. you have thot hav have not haved employment sponsored insurance or it is unaffordable according to the government, and your income has to be under a certain threshold, government says we give up,. gerri: we're not going to go there. i just have to tell folks, this news came out, friday july 5. late, it was one of those news dumps they do when they don't want you to pay attention to what they say, here the problem,

you tell people we're not going to check up on you, you can apply for coverage, get reimbursement from federal government, this is a huge taxpayer hit, because there is no checks and balances. >> there is one check and balance, if you file a tax return, the irs can look at your tax return, then a year later i say, well, you probably were misreporting your income we'll give you back some subsidies. but the irs enforce that, and that does not apply to people who do not file tax returns, if you have a lower income, you were not supposed to qualify, irs has no way of knowing. gerri: there are all kinds of ways around. >> there are ways to game it. gerri: this reminds me of liar roars iroarsloans where anybodye

out a loan , what is the impact? >> we're supposed to spend there 150 billion a year on these exchanges when the law is fully implemented. imagine additional 10% is fraud, or 20% that is 30 billion over years,. gerri: medicare, aheadic ai medd l over ain. >> yeah. gerri: we've seen private insurers say they are backing out of the exchanges. what is the effect in your view on insurers? >> so when the obama administration delayed the employer mandate that is huge, that just gets delayed forever, it becomes a zombie provision in the law that means a lot of employers like restaurants and small businesses will have a lot of incentive, instead of having

part time worpart-time workers,e full time, they will not cover insurance they will let them get insurance on the exchange. gerri: here is the problem with obamacare, it is dismantling a system that worked for about 40 years after world war ii, companies as part of their package, to attract workers offered while insurance, how -- health insurance, how muchid that cost federal government? not a lot, there was tax benefits, now this is all going to the taxpayer back, that is what i object to. >> the amount that government is losing, or taxpayers are saving $300 billion a year. gerri: don't you think that obamacare will be far more expensive in the end? >> yes. gerri: than what we've given out in tax breakss to companies to offer healthcare.

>> this is the problem, if you ask any contract health work. , they will tell you, buy insurance for yourself. you can take it job to job. there are a lot of things you can't do if you are stuck to your employers plan. gerri: when it comes down to executing it, it does not work well. >> obamacare does so much damage to the individual insurance market, it becomes less attractive, you can buy insurance today on your own, but obamacare puts a regulatory frame work on top. so the plan so expensive, because they are now going to be oso expensive they are not attractive. gerri: this is a mess, and i am beginning to think that obamacare will never truly be put in place, we have so many delays and problems. >> it will never be put in to place the way with was describe

in 2009-2010, but it will spend enormous amounts of taxpayer dollars, iting be hard to unwind, a lot of people think it will collapse on itself and vaporize, businesses vaporize had they fail, government programs do not. gerri: a good point, thousands of dollars that individuals could get through theeing if they are not program if the are not checked up on, it is amazing money at stake, ovec thank you for coming. >> my pleasure. gerri: a new segment on the willis report, calls it "money saving monday" great tips. later can you be too diversified? we'll answer that question is your financial channel panel stay with us.

gerri: it's the battle of the

seconds, when -- sexes when it comes to getting the best repair on your car, your gender plays a role. what is going on here? >> this is not all, a lot of women, go in for basic things, they are getting charged more than they should, this is based on a study out of northwestern university. gerri: you have a legitimate source you say that women are better as haggling? >> absolutely, we're really good, on the way here, my girlfriend took her car into a dealership, they wanted to charge her $650 for repairs. and she called me, there are web sites to estimate the problem, and other places in the area, compare prices, repair pal, you put it in, $250 too much, i said

go back and for a discount, she said i' i'm taking too elsewhere they came down $150. gerri: there is room for negotiation. >> absolutely. gerri: how about warranty? >> if you have a problem. don't immediately take it -- a repair shop, call the manufacturer you bought it from, there a technical service bulletin, a tsb, is there a recall, it could be repaired for free,. gerri: law talk about gimmicks, people who fix your car? >> right now flushing your engine, your power steering and transmission. gerri: why would you flush yore your engine. >> absolutely, you shod not. if sounds too good to be true, does not sound right, don't do it get the owner's manuel, your best resource, pull it out of

glove box, look at maintain schedule, if it says you need your oil change, have to done, if is does not, no. >> tips to avoid deception. >> go on-line. any vehicle, get the information, from a bentley to a kia, anything in between, if they need to replace a water pump, they have to take the belts off they can replace those at the same time, why do they double charge for labor, if you don't know, like if you buy windows or a roof or a fridge, you just get ripped off. and it is not typical in auto industry, auto repair industry most of straight up honest. honest, go on lining puline put the name oe company, if there is a question, don't go there. gerri: thank you lauren. >> thank you. gerri:d. >> stuff, a smart investor is a well diversified investor, can you take that advice too far?

common mistakes iesting to avoid, coming up next. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard.

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gerri: as a malinvestor we have thousand low-cost investment options at our finger tips, but will too many options hurt your portfolio. gerri: joining me now joe durant, martin la clair, and allen heft. i'll start with you allen, 8,000 etfs and mutual funds out there,

can you have too many? >> you can, think about this we go to las vegas put $10,000 on a roulette table and cover all of the numbers, there is going to be winners and losers in there, it so 5 too much diverse case ia recipe for too little return. gerri: martin, there is going to be a bitcoin etf, we talk about eff's as if they are most positive thing, how do you choose the right ones? >> well, it depends on your investment objectives. i guess, your question is that one should own etf's, we have a problem there is a flaw in their nature, that is that as an

investment manager to me the most important thing is the investment merits of the component of the index. and for etf manufacturers they are most concerned about the liquidity, so liquidity trumps all, which means that sometimes great investments don't end up inside of the etf . gerri: interesting, there are so many much them with ridiculous names, and things that's are invested in, i think they have -- "wall streewall street has gh etfs, joe this question, the most important question for small investors -- what should you be willing to pay for a mutual fund or a etf . >> if you are looking to invest in anything easy to understand like an s&p 500 or dow jones, a come an average that everyone knows, you should pay as little as possible, simpler the investment. the less you should pay.

huge pro poe confidences of ponent of siving -- saving money when you can. when you go to small cpanies international not as frequently known you may have to pay more money, instead of paying 10 or 15 bases points, you might have to pay a little bit more were we recommend for people, soon as you can afford it working with an advisor to help direct you, there are so many choices and different ways to get similar te investment. gerri: so we're looking at you know 10 basis points, about very low cost investments, allen, turn now, changing the topic to bond funds, we talked about what is going on in the bond market, the risks out there for small investors, many of whom have been scared of stocks they put everything in bonds and bond funds, what do you tell them now? >> stay out of long-term bonds,

there is one way interests are going up now, that is up. so, longer the duration on bond funds they will go down, that is first rule get out of long-term bonds, second rule if you can afford, think about getting out of funds all together go to individual assets in the funds themselves, buy indidual bonds, and ladder them, by laddering your bonds have you maturity dates that show you principal is coming back. so, get out of the long-term bonds g and really look hard at laddering bonds to protect your money. gerri: i like laddering, martin, what do you say? >> i agree with that, only thing i might add is, people have to also avoid things like electric utility stocks and reits.

other types of investment. gerri: joe -- >> super important. there are bond funds that have mmaturity dates in them, there are buried treasures, that avoid hassle of laddering individual bonds. >> joaz, quickly, we don't have a lot of time, but i want to get topic, i am -- consumed by looking at the playing field for individual visitors, is entering even, do we get a fair shake? are we handled in a manner that is fair, today news from thompson reuters, they will now longer give excusive investors early access to widely followed consumer confidence index, they are changing their policy, they gave the information on out early, here is what reutters said, believes that news and information companies can legally distribute

nongovernmental data and exclusive news to services provided to fee paying surscribers, i feel that there are other indexes they will hole up, i think that is unfair. >> i agree with you. that we're in an information universe. those that have money to pay for information, your panelists with me, we spend a fortune on getting iormation we put to help our clients, the truth is for the individual, unless you do things simply, the more complex things become there is a huge premium to having knowledge, and information that is why again, it is quite infair for the individual to try to compete because they just down have access to the level of information of the breadth and magnitude we're exposed to every day. most of our folks are working all day. gerri: dru doing other things.

>> raising ther raise there aree working way doctor, you pay for a proportional to deal with things, keep it simp. el real important stuff is how much risk you are taking and keep is simple. become more complicated when have you an advisor to work with. gerri: joe, martin and will allen great stuff, we appreciate allen great stuff, we appreciate your any last requests mr. baldwin? do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's taken care of. this is pretty easy, and i see it works on hotels too. you bet. now if you like that, press the red button on top. ♪ how did he not see that coming? what's in your wallet? [ whirring ] [ dog barks ] i want to treat mo dogs. ♪

our business needs more cases. [ ma announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ can help you do what you do... even better. and we help them find a policy that works for them. huh? also...

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>> who negotiates the best price? fifty-one% 49% women. finally sometimes economists get so deep into the numbers it is hard to remember they're talking real people. as is the story with timber workers. 17 million work as freelancers, a contractors and consultants and part-time workers and that is a tragedy because most of us don't want that. we want real full-time jobs

to calydon in the end the numbers are people who want to put food on the table kids in college. we allow way to go thank you for joining us. we will see you tomorrow. lou: good evening. egypt is an estate of cut -- chaos after the ouster of the president from the military is a coup by any reasonable understanding by any definition unless he were president of the united states are happened to work for him. the obama white house refuses to call his ouster a coup led by the military group clashed violently with pporters in hundreds injured in more than 50 killed but listen to the president's press secretary