neil: we will see what happens. still on. and after the billionaire, another one, the melissa: i'm melissa francis and here's what's "money" tonight. mill dollar secrets of the housing marke what should beour next move in real estate? we bring together the entire cast of million dollar listing los angeles and they will give us the inside tips you can't get anywhere else. plus, it's an idea that should go in the genius hall of fame. are yonot paying your taxes? wave bye-bye to your drivers license. will this finally get tax cheats to pay up? the new york official leading the crackdown will join us. "who made money day?" this billionaire owns amazon's jeff bezos a nice bottle of champagne. find out who it is.

even when they say it's not it is alway about money. melissa: left-hand, lud use butted rude to -- let's get right to making money. insider secrets on and tips you will not mare from anyone else. our experts, whe cast of prof very's hit show, "million dollar listing los angeles."they say it is the perfect opportunity to get in the game. josh altman, josh flag and madison hill day brand. thanks for being here. josh, i want to start with you, these tips are so fantastic i want to get to them. before you put your house on the market first thing you should go to your neighbor and ask if they want to buy it. is that before you engage a broker too. >> well, definitely, i would first go to the neighbor and see if you can strike a deal and instead of getting brokers involved, see if you can do it

between your attorney and that way you avoided paying commission. obviously that doesn't help me. melissa: no. that is why i so shocked by it. that is very selfless comment. my mother-in-law is real estate broke. she would choke on that. wait. how do you know how to sell it if you don't he an expert? >> if you live in your house that long, usually when people buy a neighbor's property, we're talking more of an estate sized property. people looking to add, onecre to another acre of property to another acre of property. we're not talking about, you know, smaller houses. but if you have that kind of a property that is worth those kind of millions you have a pretty good idea what your property is worth. melissa: h hard should you negotiate? that is very common in new york, if you're selling your apartment, you ask your next door, upstairs, somebody who might want to expand because our apartments are so small. >> light. melissa: that is obvious buyer. >> when you're talking about houses in that price range, the nehbor will be a person who will pay a premium for that. you will get more money from that person.

without buying another property, they want three acres they have to buy your property to add that acre on if they have two acres. you see wat i'm saying? so. melissa: i love it. that's a great tip. madison, i loved yours as well. you said before you list your home, have the inspection and hire an interior decorator by the hour to renovate. i understanddthe idea of cleaning up and a lot of ople's stage but actually hiring the inspector, does that mean if the inspector comes in, wow, you have a leaky rof, that you invest all the money of fing the roof before you even put it on the market? >> yeah. really the idea is, in some states they actually do do inspections beforehand but in southern california we don't and the buyer is part of that. at love times deals fall apart. melissa: right. >> it becomes very emotional that second time around. the seller was not prepared to give some sort of a creditr they thought their home was in perfect condition. and certainly a general inspection or a mold inspection, you know how many inspectors can crl around the house will turn up something.

so it is best for the homeowner to know what they're either negotiating, they can fix it themselves or be prepared to negotiate that on the, off the pre up front when the deal gets started. >> i see having t knowledge, you know, push comes to shove, would you really sugst that they go ahead and they fix it and they sort of take that -- because it does, you know, i know people this has happene to where they agreed on a price. they're very exciting about a house. they go into it. they find out that the house has some big problems andven though the seller is willing to give them a credit, it is kind of ruined theeeling of the deal and the whole new house and it falls apart. so do you say, spend the money and fix a house you're planning to get rid of to avoided that or no? >> i think there are certain, there are certain things in an inspection i absolutely think can be addressed and help save the deal. there is also things, if you have broken light switches and your light bulbsre out and gfci outlets, all those lite things in the inspection report,

clean the things up. get the handyman in and get them fixed. when the guy comes in to inspect for the buyer you don't have the same laundry list. it is short and taken care of a lot of hassle. bigger items you could leave that for the buyer. give the credit and let the liability fall back on them. melissa: the rest of it make as ton of sense. take suggestions of decorator. have a handyman, fix, paint, create continuity make as huge difference. >> take things down. fill holes. do simple things and t out of the way. melissa: at love people say that, but inspector thing was interesting. josh, i love yours too, as a seller don't take any offer personally. counter every offer. people especially in this market, especially what we've been through, a lot of people just get fly offers. somebody feels like they're not serious. they're looking at every coped dough on the beach. >> right. melissa: they just put in a dumb offer to see if you will bite.

you say even to the idiots that come buy and insult you should come back and -- >> hold on. i'm still choking on josh flag's advice not to use a realtor. let me get over that for a second. let's get back to this right now. melissa: okay. >> you if do decide to use realtor, i told you melissa, when i was on the show a couple weeks ago, super you have to put multiple offers out there. don't take anything personally. take emotion out of the game. i myself am buying a house. i offer what the house is worth. if the guy unreasonable i move on. melissa: you offer below what the house is worth? >> a little below, yeah, yeah. you can't take anything personal. melissa: he is not watching i'm sure it is okay. >> i can't tell you how many deals put together started with low ball ridiculous offers and one thingeads to another. people come up, people come down. there are no other options on the market where inventory is very low and you put a deal together. melissa: where do you tell people to counter from that? you say counter at your real price or you say this is a low

ball person, youhould counter? how do you advise them. >> i always say, give a little, have a little fun. kind of like the real estate game. t's see where they go after this. little lower from the full price asking, let's see whatps ha. if they stick to their guns and stay with their price, let's move on. melissa: i got great questions on twitter. are there still opportunity to flip houses in beach towns? they said on west side, i assume a reference to l.a. although i'm from there. beach town on the west side. basically, in, there we go. for beach towns, is there still an opportunity to flip properties and what advice do you give? one thing i read, it is much better to buy a lot than a house when you're talking about beach properties. who wants, who has a grown? >> i will comment on that. yeah, i specialize in malibu and to buy a lot on the beach is a very difficult and challenging project. and you really have toe advanced inhe construction and well-versed with the coastal

commission and city rules of building. it is very expensive today with all the new retrofitting rules and regulations, with the coastal commission and seawalls. melissa: what about cheaper beach communities elsewhere? there are no cheap- go ahead. >> there is still coastal commission and high regulations to build on the coast. to start from catch, your cost of square foot if you don't know what you're doing is likely going to be a lot more than if you're building in suburbia. always easier to find a good scrub, take it down to the studs and make something beautiful out ofhat. melissa: go ahead. >> but there is definitely still opportunity out there. i have a lot of developers right now making some serious money this real estate market. melissa: yeah. >> so if you can get the right deal, you can get it in before it hits the market, before it gets to multiple offers you might be able to steal that property. melissa: great secrets you guys. i love it. took notes. taking it home. perfect. thank you so much. speaking of housing part of president obama's speech today focused on using immigration

reform to boost housing prices. sure to be a controversial concept without question. th white house says that number shows that nearly 40% of first-time homebuyers from 2000 to 2010 were immigrants. let's talk about how immigration reform could expand the market. doug holtz-ein, former cb o director. great to have you back on the show. >> thank you. melissa: first of all the number was from the white house. does that make sense to you, 40% of new homebuyers are immigrants? they're not first, they're not newormation of families? they're not single people who just, got out o college and are looking to make -- that number feels high to me. >> the 40% is actually if you look back about a dece and ok at the contradiction of immigration to new home buying you get about 40% of those householdsoming out of the immigrant flow. that number is in the right ballpark. i don't think anyone would overstate its precision. certainly we've done work that suggests if you have a subsntial immigration reform that emphasizes new flows and%

emphasizes skills, you're going to generate a lost new households that will need houses. so i think the fundamental argument's pretty sound and it is something that the housing market is certainly watching. >> are immigrants likely more to buy than rent? >> no. what you really have is the case most immigrants come at a point in their life when they are going to build a little bit of capital and get into buying a house. so most purchase rates have to do more with income and age than anything else. immigrants fit right into that profile. melissa: is it trickier to assess the credit of somebody who hasn't been in the country as lon and doesn't have as long a track record onaper? >> that depends on the quality of the immigration reform. obviously if we get high quality reform you will have clear documentation of wherewithal of individuals that emigrate to the united states. you will have documentation o their employment. i ink it will be no more diffult than t usual credit check. melissa: what's the impact what kind of magnitude could

immigrants have on the housing situation in general because a lot of people come out and they try to make the argument of how minimum i graduation would boost the economy and make it a numbers raer than emotional argument? what's, you kw, what scale are we talk about? >> well, think about it this way. the president chose to make his remarks in phoenix and phoenix has recovered much more quickly than say a las vegas housing market in pa because it has a well-diversified economic base which has shown a lot more employment and income growth. that is at the heart of housing market recovery. immigration would augment that. it would give us more workers. more workers give you greater capacity to produce output. give you higher skilled workers and productivity boost. that leads to more income. those are the fundamentals of a solid economic recovery. we've done a arithmetic that suggest you could get almost percentage point faster growth out of substantial immigration reform. perctage point is a lot of income in the united states. that is $160 billion. funnel that intohe housing market you will --

lissa: knock on that is immigrants that we'll actually get are not terribly skilled so those numbers are overstated. >> what people will say i ignore the law that was passed and pretend what it is not won't actually happen. the reason we pass laws to make sure we get better outcomes. i'm hopeful well continue the process of minimum gray reform. melissa: what does that have to do,ot emotionalrgument, what does that have to do with the how skilled the actual immigrants we'll get are going to be? >> when you look at -- number one, high school workers get premium. that is why college education remains important. melissa: right. >> low skilled immigrants have proven to be compliment to american foreign domestic workers. that raises wages of existing population. this is something that benefits are to the economy. they're not necessarily attached to the individual. melissa: intesting. doug, thank you for coming on. thank you for your time. >> thank you. melissa: next on "money," record

cash levels, which have experts tips you need to get rich, even if you have a champagne teeth and a beer budget. you won't want to miss this one. plus, i can't believe i'm saying this, the government came up with an ingenius idea, really. new york state has a new way to punish tax cheats, sipping them of their drivers license. the official leading the charge joins us. more "money" coming up. ♪

♪ melissa: willing to do whatever it takes to be wealthy? a study by spectrum group finds the three biggest things the wealthy wish they had done differently during the financial crisis, we're breaking down those regrets to help you achieve the riches that you want. brian wesbury, chief economist, first trust advisors and scott martin is united advisors chief market strategist. a lot of brain power there. guys, thanks so much for joining us. of first thing they saidhey wished they saved more. wish ty had mre cash. duh. we all wish we had more money. that's pretty easy. you know, i think i guess they're trying to say they wish

they had more security and more flexibility when things turned down. scott, given everything that's going on for the average person, just wishing you had more cash, that's tough to do you know, we always want more money. how do you get security? like the wealthy. >> i guess being a military gives you like 2010 hindsight, right? we all wanted more cash. listen, one of those old adages right, cash is king. i think anytime in the market when there is some tumult, now grand we have not had much to worry about the last four years. melissa: right. >> so cash wasn't tha great. so i think with anyone, whether you got a million dollars oft or $10 of it, some cash in your pocket or bank account is great because if you look over the broad sctrum of things, having dry powder, melissa, when something does happen, gives you better chance to take advantage of say, a low price on something. melissa: brian, what do you think about that? how doou achieve the sensation of having more security and flexibility. sure. melissa: if you're not a

billionaire? >> well, you know, i think a lot of this, melissa, goes back to the trauma, that 2008 was. some people are still scared. it is like, almost like we have posttraumatic post-traumatic stress disorder disorder and so people want to have this cash. it is an insurance policy against going -- things going bad or all of sudden, as stock said, there is some major sale on the table i can run to. but in fact really the lesson i would take out of this, when everybody thinks you shouldn't have any cash you should. and what everybody thinks you should have lots of cash, you shouldn't. that's what i would take out of this. when the blood is in the streets that's when you want to buy. melissa: yeah. >> if you look at people like bill gates or warren buffett, i mean they never had cash and they're the world's wealthiest people. they had everything invested, all the time. and that's the way they became wealthy. so, you know, i get it but i think it all goes back to 08.

melissa: that they are stupid in th instance, brian? >> if people are holding more cash today just because they're scared 08's coming back i don't know if i call them stupid but i would call them scared and i think that's been the wrong place to be especially in the last fou years. the s&p 500, that the risky stock market, is up 170% since march of 2009. and even if you go back to december of 2007, it has gained 4.8% per year. so if you had been fully invested -- melissa: that is an argument for stocks but if you're an average person that wants to feel more secure what would yo do? >> sure. hey, look like we all know, rain any days, cash, putting money aside. all you're doing to have great retirement, there is only three ways to get rich. melissa: yeah. >> that's right. you have to. there is, there is three ws to get rich. spend less than you earn and put the difference in something you

goes up. marry, marry rich. or inherit it. melissa: yeah. or inherit it. those are all great. the second one they wish they had done more research about their finances on their own. i'm really surprised to hear wealthy people say that. it is surprising to me they're not doing their own homework. they're saying they wish, they don't trust anyone basically. they wish ey had more information. how can the average person get more information and get more invested what is going on with thr own money? >> scott? >> this again is a had had-scratcher, melissa. you're telling me people look whimsical bets in 08 and no we'll go back to change our research. melissa: they trusted financial advisors so they got screwed. so now they don't -- >> they don't talk to us and wesbury. we could have done them okay. there is a lot of blogs and fun stuff to read on internet. there is great stuff on

foxbusiness.com of course but does any individual investor, millionaire or not want to read through a 10-q or a 10-k? i don't think so. i think it is bad to brian's point. you have to have risk on the table. i agree taking it up or down at certain points. the only way you make money is putting it at risk and taked ad advantage of market. melissa: it does get involved and not have blinders on. they never rebalance it, aller it or check on it because it is scary to them. at very least that makes sense, right, brian? >> i think so, melissa. to uerstand financial markets takes me economic classes. read the newspapers. i think that is all important but there's an important reason to hire a financial advisor. and in fact i c think of two really important ones right now. number one, the financial advisor isn't emotional about your money. now they care for it, they want to take care for you but they don't make a emotional choices like, people do.

people are always, you know, think about tuna. when tuna goes on sale people buy it. wh stocks go on sale, nobody buys them. because they're afraid they will fall even more. melissa: yeah. >> financial advisor shouldn't fall into that trap. melissa: oy. >> number two, you make your money by being good at what you do, not by being an investor. you remember all the people that turned into day traders in the 1990's and lost their shirts. melissa: yeah. >> they should have stayed a dr. they should have stayed a ups delivery person or a plumber. not try to become a day-trader. you're never going to be good at it. melissa: real quick, because we're out of time. last thing they said they wish they had not taken on as much debt. what do you think about tha >> go ahead. >> i will let scott have the last word here and let me say of course, this just goes back to something i said. when everybody is leveraging up, when everybody is making, is betting everything on the market that's when you need to run away. when nobody is doing it, that's when you need to get in. so i would argue that this, what

you're talking about today, nobody wanting to have debt, everybody wanting to have cash, i think that tells me the market's cheap. melissa: okay. >> i thought i had the last word here. >> yeah. >> debt is not a bad four-letter word. there is a lot of worse once we can't say on e show. it is key to the velocity of the economy and you have to take risk. melissa: that is how the housing market collapsed. >> and it is going back up. >> there you go. coming up on "money," haven't paid your taxes? say good-bye to your drivers license. new york state so great i can't believe the whole country isn't doing it. we'l talk the man behind the plan. plus a fight between unions an obamacare. where do you put the odds on who wins? the days of untouchable union health care plans are looking grim. new tax fom obamacare could spell the end all together. stay right here for the details. do you ever have too much money. ♪

♪ melissa: whether its on wall street or main street, here is to mate "money" today. warren buffett, big surprise, along with anyone who owns the washington post. and casey have been living under a rock, amazon c is buying the "washington post" for $250 million. the news sent company stock leaping more than 4%. buffett berkshire hathaway owned shares call which means that he made nearly 42 million. nice pocket change. like he needs it. meanwhile, losing "money," anyone who owns american eagle outfitters taking an ax to second quarter outlook, mostly by noon weakening profit

margins. hanging 12% the news. and he did not hit a home run last night, but a-rod was our ratings home run for the network. he played just hours after receiving a 211 and suspension for steroid use. it was the highest rating this year for a yankees game. more than triple the avege at its peak. just when i said -- just what i said was going to happen. so, if you owe taxes the government could be after more than just germany. and new plan in new york with his genius, i may say, could strip the driver's license from anyone knowing more than ten grand in taxes. i'll know why this is n been happening for years. i just spoke to the taxation and fince commissioner in new york just a few moments ago. you know, this seems like and no-printer. it reminds me of wn we hear this statistic about how the irs workers of back taxes. 311,000 of them. wages areot garnished. it seems like it would be easy

to do something like that. in this case it is the government saying you haul me money and give me something with the other hand in the form of a driver's license. did you get a lot of support for this? seems like a great idea. >> first of all, thank you for having me on the show. it is areat idea. we are quite focused on making sure that it is successful because it is important in ensuring fairness in the taxation system that we have in the state of new york. melissa: the one problem we heard from people on line who tweeted us about this was they said if youake away someone's driver's license, i will make it harder for them to go to wor and earn wages to pay you back taxes. audi respond? >> well, a couple of points. one, this program applied to several filters to taxpayers that had outstanding liabilities. as you kw, this is focused on new yorkers and other folks to have tax liabilities in excess

of $10,000 to hold a department of motor vehicles license. those folks have not communicated with us, ignored repeated attempts to try to work with them to settle liability. and so we have not contacted them are in the process of contacting all 16,002 essentially give them 60 days to settle their liabilities. if they do not respond to us or work out an arrangement, that dmv will communicate directly with them and give them an additional 15 days. at that point, if the liability is still outstanding the lessons will be suspended. they can apply to dmv far restricted license to get to and from work, but if they do not work with us within that final 15 day time frame following that dmv notice, the lessons will be suspended. melissa: how hard is it to get the restricted license to be able to go to work and get the

ney to pay you guys? >> i think an accommodation clearly will be considered by the dmv. it is really their call because they administer the licensing program and determine the qualifications for restrictive programs, such as the lessons that we are talking about now. we obviously want people to be able to get to and from their places of employment, but we should be clear that the folks you are receiving these letters have been contacted on multiple occasions and have been given multiple opportunities. so the liabilities including the possibility of entering into palin agreements. melissa: before we runut of time are want to ask you how hard it is to implement this. a lot of times a response that we here likened the situation with the irs employees to of back taxes would seem so ironic because they say it is hard for the two groups to communicate. in this case how hard is it for your board of tation or

whatever to communicate and coordinate with themv? is that prohibitive, or suld other communities to what you're doing? >> the governor has made it quite clear that government should work for the people of new york. he expects state agencies to work well and closely with each other. that has historically been the case between the department of taxation and the department of motor vehicles. so we have no issues with respect to the implementation of the program, and we are under way now. melissa: thank you for coming on the show. i hope you keep us posted on how it goes. here is our "money" question of the day. new york will take away your driver's license if you of taxes. love it or hate it? when tweet said hate. it cannot drive, may not b able to work. new york will have more problems. another said, if washington d.c. did that most staffers would be walking. that is sort of my point. we want to hear from more of

you. follow me on twitter. the love to read those. next on "money," give u your cadillac health care plan or get laid off. cities put the squeeze on union employees all over looming tax from obamacare. will unions caved to save their jobs? we have the details. the demand for electric cars is pretty low. why not spend $100 million on electric charging stations? your hundred million. will it jump-start electrrc car sales or spend tax dollars. piles of "money" coming up. ♪

♪ melissa: no matter what time it is, "money" is always o the move. shares of first solar tanking after hours. of bigness of the top and bottom line in the second quarter and dimming the lights on its full year outlo blaming construction delay and higher operating expenses for the cut. so have union spinoff more than they can shoot? e legislature and the health care fight is now over what is being called the cavelike tax. an idea that was supposedly going to force health insurance companies to lower cost by taxing plans that exceeded a certain amount. even thoh union supported at first and out of want to give up

their cadillac plant could the tax still work out asn idea to bring down costs? rick make -- with me now is rick unde from forbes and former national relations board chairman peter schaumburg. thank you both foroining us. th cadillac tax is designed to tax at a heavy rate, 40 percent above where the threshold is. plans that are very expensive. you know, they cover everything. this seems like it will do that. that is a laudable goal, no? >> it is a lite bit complex on where we have a bed of a problem. if you care what the intent of the law was, it really was designed to make up for t the roughly 35 percent subsidy that we give to businesses when we allow them to deduct the cost of health care premiums. the other part is that it would force some lowering of the cost from the planned by negotiation

and by doing that it could free up money to pay wages. the problem ishere was always a threat. club against the unions. melia: people who support obamacare and unions, the way he is talking, that's not how i worked out. the majority of the people who have the very expensive plans that they don't pay for that their employers pay for its municipalorkers. that's at the end of the day the cadillac plan. >> it really isn't. union support for obamacare is coming back to haunt them. unnatural probable consequences to some of the ill-conceived provisions. the employer mandate, now it's the cadillac tax. the problem is the workers to not want to give up their health

care befits to the extent that they currently have them. the unions would be negotiating with states and local governments. the state and local governments are going to want to reduce the health insurance premiums in order to become the -- path -- melissa: in fact, the mayor has already said before release of this year lost a bid out the contracts and take the insurance plans out and have them get cheaper plans just like all the rest of us. every other employee in the world has seen tir share of what they pay go up and the health plan covers go down. when you divorce the person who is pain from the health care source everything gets out of control. why should either control cos? >> is not as the indians. it could directly affect

high-priced employees who also did cadillac plans. melissa: in theory, but you know companies will go out like all of our companies have and say we won't pay the tax. >> not to the high-priced exutives. more importantly, we can't play the political game. you can argue the conservative side. the reality is we don't yet know if thi will have a desired effect not. we do know the unions are @%mplaining. ninety-fe -- melissa: 95 percent of employees' pay notng to the premiums. >> that was part of the point. the other point is you still have to wait and see. a lot of fun for us to argue about these facets of obamacare. this does not go into effect until 2018. secondly, we are not the right to know if it has the desired

impact of lowering the cost of health care. until we get to it. melissa: you are saying that you are betting that instead -- >> i'm not betting on either. i'm not betting on either. melissa: that is appalling. >> if you want to do an honest analysis -- melissa: i am the only one that came with numbers. you did not bring numbers. i have stats. who is actually paying in you is not. >> no one is paying yet. melissa: yes. >> on the national average only publ employees are only paying 12%. >> i'm not questioning that. it is not the issue. the issue i am saying is if the original plan, if the idea of a cadillac taxed as turnout to bring down the ct of health care, once it goes into affect -- melissa: it will instantly. he was to go out. >> i wish it would. i really do. melissa: with the question. he is already saying it. >> i don't think it will lower

health care costs for all of us. only 16 percent of the books in the country are affected by this. melissa: then i don't know. you make some like no one is affected by go ahead. >> this is not a liberal or conservative thing. this is just the numbers. the mey will have to come somewhere. new york in 2020 to is going to have $550 million increase in taxes there will have to get the money from either taxation, lower employment or by trying to lull or the health insurance premium. >> or the cadillac tax which will produce 100 billion in revenue. melissa: from taxpayers. from taxpars. >> no, not from taxpayers. melissa: i'm t one that pays. >> you kief act -- you keep acting as a public opinion is the only thing involved. >> the emplor is a taxpayer. melissa: thanks, guys. up next, do you know someone

with an electric car? ninety not, but the government is doling out $100 million of our dollars to one company to build charging stations. in its old electric car sales? today we will let the same team stick around and debate that one. the end of the day, it's all about "mone" ♪ [ male announcer ] this is the age of knowing what you're made o

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♪ melissa: if you love the way the government spends your money, you're going to love this one. 100 million of your money has gone to a california company to build electric vehicle charging stations. the problem according to the department of energy's own inspector general, the rollout did not really happen because of the demand for cars and less the stations just was not there. honest mistake, or a huge waste of taxpayer dollars. is theirector and with the climate depot executive editor. thanks to both of you for coming on the show. let metart withou. what do you think happened in this case. this report comes from the department of energy's own inspector general. there the ones who went in and said, basically, president obama's said there will be a million electra cars of the

road. people want to buy them. we're going to pull out a hundred million dollars in taxpayer dollars to bac a company to rollout the stations. the inspector general said it did not happen. >> demand for electric cars has been a little flat, picng up lately which is because there are more expensive than the traditional call -- car. the fact is, we have touched diversify the fuel and transportation fleet and the fact is the government has a long history of successfully working to build out -- melissa: what was wrong here? >> what went wrong here, no allegations of fraud or abuse. melissa: no demand. >> the demand for the electric cars have not keptp with the infrastructure. will we need to do is understand that the days of cheap gasoline are over and that people are going to continue to have gasoline powered cars. but making it easier for

families to have access to electricehicles is partf the transportati fuel mak. melissa:et's get mark in here. a very point. the demand for cars to not keep up with the infrastructure deployment. >> for seeing that everywhere. euro, places like.k. and ireland have more charging poison electric cars. more charges stations. the old adage, if you build it, they will come has proved disastrously wrong. just under two and a half billion, estimate of how much obama has laid into electric cars. consumerdon't want tm. the ie spectrum, just read an article saying unclean and any speed. even green environmentalists are qutioning electric cars. toyota pulling back. the washington post is rejecting them saying that they were a dream and expensive that that.

melissa: maybe this is not the answer. maybe if you want tilled use less fuel and other smaller rbon the print and all of those same gls, electric cars, people just don't want to drive them. >> i don't think it isor every consumer, but the challenge of electric cars is that the unit cost is more expensive than comparable hybrid models. melissa: but let's not make it the answer? if it is not cost-effective verses other comparable things were you're trying to save energy it makes it seems like it is not a good solution. >> the cost will go down over time as we see with any technology. the first mainframe computer cost tens of millions of dollars and now smart phones cost $250. the technology will be there. the question is that the government should continue to ay a role in helping to diversify. melissa: we have to leave it there, and i apologize before

you there was a fighthat i let go too long. next on "money," fight made a movie have been. hollywood heartrob george clooney versus hedge fund billionaire dan loeb. we have it all in "spare change." you can never have too much "money." ♪

♪ melissa: it is time for our daily fun with a little "spare change." a joined by a senior editor of in touch weekly. the wall street water cooler, it has been everywhere.

all about the battle between danielle love and hollywood a-lister george clooney. he once saw a need to spin off its entertainment business which includes sony picres entertainment and separated from the electronic division. he does not want it though. a contract with sony pictures. ticking at upon himself to a level lows. you know, that might be true, but since when is towards 20 the authority and shareholder value and wall street investment? heat -- why is he waiting in this light? this seems like a weird one. >> even some a-list actor saying this. he's a producer, a director, also an actor, as people kno he is nominated for oscars. he understands the business. he has the production companies

and the makes the big tent pole movies that make money, russia's 11th franchise, but he als makes movies like the descendants. melissa: wide is being part of the larger sunni and go against his business interests. the argument on the other side is that they are very different businesses. the electronic verses the movie. by breaking them up the spin off the value. the thing he is invested in be more free and entertainment and would be in his best interest. >> i think he is saying that he took issue with the fact that it -- the fact there were fight -- he tech issue with the ft of their work having movies that did not do so wel he was saying, if you are going to mention those two movies that did really well -- really badly, then talk about sky fall, the movie that did really well and a billion dollars. talk about the successes. you know, wire just singling out these movies? you know what, it is the movie

business. ebbs and flows. if anyone does, george clooney guy. melissa: thank you so much. that's all we have for you the following is a paid advertisement for starvista entertainment and time life's music collection. ♪hances are 'cause i wear a silly grin ♪ there are artists we'll always remember... ♪ mona lisa, mona lisa ♪ men have named you there are beautiful songs, words and memories that will always touch our hearts... ♪ it's impossible ♪ to tell the sun to leave the sky ♪ ♪ it's just impossible this is the music of your life. ♪ she wore ue velvet