great weekend, thanks. >> hello, everody. tonight on "the wils report." a dna test to know your medical future also tracking teenagers when they are behind th wheel. how do you do that? and 95 years old, more fit than men have his age. he is here to tell us. we're watching out for you on "the willis report." that and more coming up, but the top story, the battle is on for

what is left of detroit. pension fund, union and debtholds scrambling for their cut after the city declared itself bankrupt. but what is haening in detroit may not stay there. it could have big implications for the rest of us. with us now from the frontline rategy company and with yard advisors. am going to start th you, this is onof the most talked about bankruptcies before it even happens and certainly the largest that happened not too long ago. at do you make of this? >> it is a tale of two cities if you don't mind me. stockton was a perfect storm of a very intense time of overspending, overpromising and under deloping where troit is a systematic breakdown what would have been progressive polici in the socialgenda t. i grewp south of detroit in

ohio, went to the city on a regular basis. it was a magnificent place. to see it deteriorater you have a a huge pension obligatio, the fact the tax base has left metropolitanarea, buildg up over the last 15 to 20ears, it is the perfect storm. gerri: here is what rick snyder said. >> hat'll come through the process, the point is anybody buying bonds should be aware of the financl challenges. we want to work through this, get that done. gerri: having big effects, what do you makof the governor's statement, what he had to y

about this. what he is saying is quite dangerous. he has characterized the general obligationondss beg unsecured creditors of the city, and i alwayselieved and i think the market believes the past00 years they are obscured by the municipality. very dangerous precedent he is trying to set here. cheryl: emergency city manager is proposing bondholders get cents on the dollar. >>he same thg in the stockton case earlier th year where they basiclyided with the city and calpers, the large pension fund for state workers in the state of cifornia. of course the bondholders get a haircut and the problem is you have to find some sort of equity

or penalty here. if they got the bondholders, who is gng to invest in cities and municipalities if they know they will get it? gerr detroit has been a mess. the city in big trouble, some people have left, populion declining. you cannot even get a cop or a famine to your house inside of an hour. the problems go way beyond muni bonds, right? >> absolutely. they are just the finymptom of the collapse it detroit is a mess, it has been a mess, on trial for everytng wrong with urban america. your heart has to go out to these with the you think deserve the pension or not.

they are now in a situation where they don't know ifhe will continue to get the pension that they have relieupon to li. it is veryompetent a situation and won't be sorted out quickly. gerri: we have to haveome sympathy for these people, but the city overpromise and und delivered. people are not paying their water bills, their heating bills, athe end of the y the city has ma major mistakes on theay and if anybody was to pay, it has to be the lal government. >> here's where get down to the crux of the probl. not just in califora, but with detroit and even bger cities like los angeles that have a looming pension problem. not that we don't feel for them who have been promed in the past, if t money is not there, somebody will have to renegotiate. that is what bankruptcy allows

them to do. if it's a hacut so somebody can get the same kind of penalty in the end we would have a much more successful outcome. gerri: i don't know. this is going to be a big fight. a judge today so this bigoted filing is unconstitutional. yolook back, gm was in bankruptcy for s weeks, how long is this thing going to last r the ci of detroit? >> this is a completely different kettle of fish. chapter for corporations, it is a different thing. the other poini want to make is 18 or $20 billion of debt outstanding liabilities outstanding. a huge amount of money and to your point abo it being a low tax base, that is true. only 13,000 per year.

you do the math, 17 billion is a huge number. gerri: cities go up and cities go down thank you for coming on tonight. onto our oer big story tonight, the sec has slapped llionaire hedge fund manager with insider trading with related charges. the most invested ever. fox business senior correspondent chare gaspino and thor of circle of frids. the government has been after this guy for a long time,ou predicted it, was this a surprise? >> no. they were ramping up the failure to supervise gaze. what is fascinating is it is along the lines of what they did with jon corzine. you don't have to charge the target with fraud. just if you have enough evidence failure to supervise and brings with it l the penalties of a

fraud charge. stevehe will be charged. it is on their home court. if you are betting, in 1995 told me what do you think about detroit, i would say that against detroit bnds because at place is a basketase. in 2008 i uld have told you they are going bankrupt beccuse the whole auto industry is going bankrupt. the chances of him wning are about as high a detroit. he has great lawyers, he makes a compling case. gerri: why didn't they charge him with insider trading? >> we didn't have insider trading. if you believehe folks, they have both been indicted.

portfolio manager and if you believe they did sething wrong, and thgovernment clearly di the guy they dealt with has done something wrong. they d't know that, they don't have evidence he got from them that link them to e insider trading. they don't say i have insider informatn. what we believe is they have conversations, they talk about things and he doesn't take the next step like how did you get that. how do you know for sure in his case how do you know for sure that the two stocks heot information that they were going to probably tank because they had unfavorable res, hodid

you know it was going to tank? that is an obvious question. what is fascining is just how mu power the sec has even without a fraud charge they can take you out on failure to supervise and that is what they're going to do here. gerr is it surprising in this case? >> they think, this is them talking not me, they think he runs a criminal organization th a mpliance all ththese op doad stuff. gerri: there has been no crimal charge, correct? >> they believe they do all of these bad stuff, the compliance is to protect the man in the middle. there may be a charge against the firm. still a potential for a charge against steve cohen.

i don't think this is the last straw here. i think there is more to come. i think the is a chance, they ll charge the fm with some sort of ariminal insider trading case ainst the firm. more than a theoretical chance is to pursue steve cohen on some charge. they have given up on the criminal charge on the case, ich is true. if he flips,aybe they can get something on him. therthere's other stuff they're still looking at. ey believe this company has operated ia very shady fashion they shoulnot be allowed to exist and the compliance is there as a cover.

if you don't believe my report, he did not mention him by name but he alled t them. they speak in code. gerri: it is a fascing story ory. really appreciate it. unbelievab. weill talk about how soon dna testing could be available to everybody at a low cost. the latest technology you can use to track your teenage driver coming up.

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gerri: this next segment is important for teenags, grant has teenagers because of this statistics. everything with an average of 17

die in car crashes. in a third of those crashes back in 2011, now there are new forms of technology where pants ca monitor their kids when they are behind the wheel. so how do you do that? great to see you. the talk about technology being a bad thing when you're driving, but is may be the exception to the rule. >> absolutely. i first told my kids, you are stalking me. i am not stalking you. itpened up a conversation about my experiences in drivin and what they had. they agreed this makes sense. i will not monitor every single thing you're doing, areou speeding, their highways and downtown, maybe someplace quitted long-distance c c create invisible fences for them.

thopenf a nversation for a contract between them. they knew what expected, and what they were supposed to do. if you have an accident or if you are caught speeding you lose the car. cheryl: studies have shown those were monitored by by their parents do a better job driving. they're more careful, they drive slower. i would have to think you would be darn mad abt it. the whole point is to get away from mom and dad. >> it isbout the freedom but you can still be able to monitor. there are a lot of different systemthat do a lot of different tngs. have them uderstand speeding is illegal besides the fact it is dangerous. you havether things to be concerned about, but if your kids have an accident that is a health issue that could last the rest of their life. gerri: tell me aboutthis. >> ford offe something called

mikey. it allows you to restrict the mileage. you can seek only drive around downtowni will limit your speed limit to 45. you can s 65, liver agreement you have, e best part of this is if you take off the atbelt you lose the radio. music is so important to this generation, to take that ay. gerri: what is this? >> to have speed limitsallows you to monitor via e-mail, text messaging, this is great, this is really important, you can drive my infinity, here are the restrictions i am imposing. gerri: why don't we use onstar? >> a gm vehicle only, available

on the new vehicles coming out. actually we han program, however ey added a family link allowing family members to s where the other ones are. it can be really greatlso for watching elderly drivers this will allow you to help them. gerri: that is a great idea. or when they drive afr dark. that is a good thing. tell me about this one >> there are bunch of different things. so many different ones. making sound systems. they are linking intthe onboard dagnostics, underneath the --dash. you cannot get text messaging or e-mail alerts don't come in. greafor keeping e kids hands on the wheel and eyes on the

road. gerri: i understand more teenagers die from driving and texting than they do drinking and driving. anything elsyou like, yass, get tested? >> whether you have an android or or an iphone, there is a drive camera, veryool. they have it on their website. emergency braking, the geforce will record the last few seconds before the accident. to prove it may not beour fauland good for parents who say maybe you didn't have an accident but you are driving a little fast. ways to open up conversations. maybe multiple tools would work in your kids cases having something that block celphones and kee an eye on what they're doing and ere they are going. gerri: thank you for coming on

in explaining. thewe willrap up our weeklong series on navigating health car system and cutng cost in the process. and what about dna tting? when and if u should take advantage of dna testing see if you are predisposed to chronic illness. and we0h1ill get your reaction. ♪ [ villain ] well mr. baldwin... it appears our journey has come to a delightful end. then i better use the capital one purchase eraser to redeem my venture miles for this trip. purchase eraser? it's the easy way to erase any recent travel expense. i just pick a charge like my flight with a fewaps, it's taken care of. impressive baldwin. does it wo for hots? absolutely thank goodness.

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gerri: earlyetection is market e treatment options and higher surv

gerri: wt are your jns genes teing you about your heah? tonight is partly ongoing user's guide to health care, we uncover the poteial inside your dna. angelina jolie made headlines for having a double mastectomy after dna test revealed she had an 80% chance of developg breast caer. but is dna testing right for everybody? and is it worth the money? trek to the genome research institute. welcome to the show, have to tell ouriewers you are actually a celebrity in the world of science because you are at the forefront of mapping the human genome and i think people are reallynterested in what you door a living. tell us, if you will, d testing back in the headlines, she thought she was very likely get breast cancer as a result of genetic testing.

is this the right diagnosis wir the right way to dinose any disease? >>t is not necessarilyhe case for any disease. in a situation with angelina jolie, it is a genetic defect we know predispes someoneo very highisk for getting breast cancer, and one way to avoid it is the kind of treatment she decid to undergo. gerri: the test for thisscost $3000 a lot of people y why is this so expensive, why does it cost so much money? >> that will likely change. thereason was one company basically offered that test, others were not loweto becae ofntellectual property constraints associated with i we have a recent supre court ruling i sspect we will talk abouthat.

over the last 10 years has been remarkable new advances in how we can look at dna and basically sequence dna for diagnosticsnd that will reduce the cost of looking at one partular gene. gerri: i asked bore we can diagnose any disease th this kind of a test. what can you dagnose and are all diseasesn the genes or is it nature rsus nurture? >> practically everyingle disease that he would na, there is evidence at least getic component, if not an overt genetic cause. the is both, environmental contribuons and geneti contributions. gerri: you can do this online pay $99, gethe kids, basically spitnto a box, the analyze your dna.

how adequate is that? >> there are specific known differences in dna between peop and from tat, they can foinformation about possible disease risk of various types. that is just a preview of what the future wi bring quite affordably not for $90, but a few thousand dollars now to every single letter in your blueprint. that eventually will give us much more powerful information thaand to get aubset of those letters. gerri: you have done this coming only answer to the question with yourlf personally. was it personal or negative? >> i he never had my dna sequenced. gerri: if you have not had your dna sequence, you don't know all the mysteries of your dna, how long are you going to wait? when would be the right time to have that kind of wo done?

>> that is a great question, could be pmpteif i had a medical condition where i would feel i uld gain new information. i have not had a circumstance whit would change anything i am doing. i rely on family history. i make sure to be checked by my dermatologist once per year. i know my family history. gerri: thank you for coming on, absolute pleasure to have you on the show. thank you. now we want to know what you think, wld you want to know if you are predisposed to chroc illness? vote on the right-hand side of the screen and we will share the resus at the end of the show. i will intduce you to a man that will make you think twice about coming up with an excuse not to xercis he is 95 and running and winning awards. and next, more of the user guide to health care for everything we have learned how to mage

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>> ending is part of your

insurance network because that could be expensive if they are not. you want to find out about their office hours and who can see you when the doctor is not there and and how many. that it is a matter of publicrecord for people to access our they board eligible? that means day pass the residency but never passed the exam. >> we found out

>> how would you know that? your child had a sinus surgery, and, obiously, the second procedure was a lot more money. we sorted through this all the time. gerri: just because you have a doctor and a provider, you can trust with your health and money, thatdoesn't mean you shouldn't still shop around. prices for procedures vary incredibly, and just going to a different provider across the street, well, it could save you hundreds of dollar, if not thousands. health care blue book's ceo

doctor jeff bryce and the ceo explained why the procedures cost so much, and rich wilson, a business executive from nashville gave a real life story on how he saved money on a medical pocedure. >> prices it very difficult to determine in health care. there's not adirect relationship the way you find in other industries in terms of the quantity of health care and how much you paid for it, and in particular, the quali aspect is a lot of times missing. typically, the way pricing is determined is volume. >> not in this case. >> it is difficult to determine with the codes involved to create that cost it is tough to rovided estimates with commercial insurance for common health care surry it is tenfold

with $700 in one building. >> i looked up the of their price of the mri. >> what is interesting is the site showed what was right in frontnt of me with saw high price $1,700 to the low of $500 and. gerri: did you take a back >> they had a list of actual providers on the site that would do the procedure for $500. so white cled one of the facilities and confirmed they would do it at $500 so feeling impulsive at that point i said is that the best that you can do? and to my surprise she said

cater garett 8:00 p.m. then we will do enough for her dollars. gerri: negoate. negotiate. negotiate. looking at all for your health care we will have more on tse coats the you fight your medical bills dr. gottlieb says it is a scale of. and when we come back young heart the man who puts us all to shame for the 95 year-old runner and joins me after the break. [ male announcer ] if you're taking multiple medications,

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gerri: the latest developments in a story we covered for some time. gerri: now the latest developmts apparently the city foote communityplan foundation plan to is w

7.$7 million announced this week is not sitting well with concticut's two senators.t of calling for an independent in audit of more than the $11 million in donions receiv they feel that at least 70 percent of the f money should back -- benefit victims' families. we will follow this closely the money was supposed to be handed out next month. but now to bring you a feel good story. our next guest true legal inspirational starteda writing 45 years ago and today breaking world records at age 95 proving you're never too old to accomplish and youaordinary can't get healthier as you age.j he has no plans to slow down, welcome to the show. tell me or bill, what inspired you to run? >> when i turned 50 years

old i was fortunate enough to read a book by dr. cooper in title the aerobics so why started running the next day after i finish the book and i have been running ever since. rri: unbelievable. you have seven world records in just this year. >> i have to correct you i just found out that one ofi them is not valid. i only have six. may i show you the mels? there fo the indoor, nationals gb and ship lastx march.d i thought i got 61 for each metal but i found elevator not but one monthoor ago i had an outdoor meet th an ouoor metal and a world record sorry to have them this year. gerri: hold them up one more

time.my that is an impressive display. what is your secret? will be doing that the restt of us are not? >> that is a difficult question to answer. i have always been healthy but i did not start running and tell i was 50 but triederc to be faithful to an exercise regimen to and ofa course, a diet. i am not a health food net but i do try to eat healthy food a.m. to i guess i justther told them all together. gerri: clearly.e now to talk about injuriess you have some kind did youc have suffered a stroke you have come back from that. how?ogr >> i told ben in the rehabt

rehabilitationb program iwant a vigorous attempt to get back intourp shape. i they gave i to be added to th ink by surprise them cause i s runng withinw a mundorf ty idea of feeling good and doing well and i am happy to achieve new records along the way. gerri: it is conventional wisdom people your agey should not over exert themselves.hi what do you say? >> i think it is foolish.ne i have friends near my age age, but many people thate are running and i encourage them to continue. back to your previous question, there is the common belief it promotes injuries but there is a steady five years ago that says the peop thatl

exercise had a death rate oft, only 50 percent of those that did not but the corollary finding was thate those who exercise had fewere joint problems and the ones that did not exercise.as that is astounding.g gerri:ou are astounding. it was a pleasure to meet you., t you have inspired all of us.e. thank you. unbelievable.m 95 and running competitivelynts still to come my to sinceoo and also to boost your business how even hotels are using perfume to get you to part with your money. the pursuit of a better life for our children is something we all share. but who can help prepare them for the opportunities ahead?

who can show them how to build on your success, but not rely on it. who can focus making your legacy last for generations to come? that someone is a morgan stanley financial advisor. and we're ready to work for you. gerri:mells have a powerful effect on emotions. next, how you favori sore could

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america travel mug free with your hoveround delivery. call or log onto hoveround.com right now! gerri: ever smell is a scent that made u o y gerri: did you ever smell of scent that made you want to buy something?o it can have a poweul impact on consumer behavior. for i am here with a perfume publisher. fredick, it is great toh. see you.p tell me why are smells sonk powerful to consumers and? >> it is the sensitivity basically.fee you don't feel them but youe feel the emotion and you don't know why. it is a motion number just like music will or even at note.d

gerri: thr arsenals that make you want to purchaseica and a storet >> there is not a magical spell that makes you want to buy just like one to attract every manner around you, not that y need it.l [laughter] but there are scent thath make you feel comfortable you remember a house becauseo of a small but you have these memories from childhood. so when they created a scento for stores they tried toe havem this identifiable scent to remember a particular store it and want to come back. gerri: you have a secial gismo over here? >> basically when i spray

and a fragrance in their like this and show it to customers this is lilac and it allowsera you to see what oro you're generating.u gerri: i don't stand inw here? >> no. that is "star trek".t [laughter]o gerri: if i was going to open a store what smelled> like i used to entice them? >> lilac is frely and clean. people are looking for a truly naturally smelling fragrance.w also people want tspill cleaned.

gerri: you come by this naturally? >> i do. my grandfather, whom i never met it made smells and my mother worked there 47 years. i wasrought up smelling of fragrances.ts i was wearing the fragrances when i was five years old then move examples in 2000 i decided open where thee t creators could publish their own fragrances we recreated the first luxury house of perfumery. since then many other brands have come about.

gerri: help me pick out aad scent for me.try >> when i tried to hold somebody is pfft someone wearing high heels, a nice hair, and it is not exactly theame thing as somebodynow, looking down wray a dress for it is two different persons and to differenti fragrance is what in think you would like is this flower here. gerri: that is wonderful.r a cue for that sensational lesson we'll be right back with my mother made the best toffee in the world.

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>> final it seems like health care proceeds at a furious pace every day. withhh new discovery. the same four dn testing. angelina joe lee got tons of attention for her decision to have a double mastectomy after pausing -- testing positive for the gene. don't forget itis not just nature but also nurture that determines your health. just ke lung cancer has a big connection to add you live your life i uld like to think i he e impact on my health with my behavior. we ho you enjoyed your week-long look to health care. it was a pleasure to research and report.you can't fk

undererri willis.com. that is it for tonight. we will see you next week. charles: and the unions get big payloads and residents get handouts you have a city like detroit down for the counter. i am charles payne in for neil cuto. $18 billion budget hole forced to declare bankruptc trying to get creditors take a fraction to walk away al helpyou deal with the pension problems but it is trying to get every penny it can in refusing to back down in t big reason meniscus sa