will fall to 56 from 57. liz: number one thing to watch? jobless claims. economists expect claims to rise by 2,000 to 135,000. david: time for "money." adam shapiro is in for melissa francis. that that's next. >> i'm adam shapiro in for melissa francis and here's what's money tonight. you can buy anything from books to bread on amazon but, an original monet? amazon art has bargain prints to real war holes. this new online gallery wants to revolutionize the multibillion-dollar art industry. and we've got the first tv interview with the amazon executive in charge in a fox business exclusive. plus, what does booze have to do with the post office's future? it may be its financial savior. the u.s. postmaster general is here with his bold plan to save billions of dollars. "who made money today?" the buyout of this music company is

music to their ears. not sure who it is? keep watching to find out. even when they say it's not it is always about money. adam: let's start with big money. the 64 billion-dollar art world. we have an interview with amazon about the new art gallery, aaazon art. it is initial foray lets you browse everything from incredible affordable prints up to multimillion-dollar monets. in a fox business exclusive. peter farisa, amazon marketplace general vice manager. i got lost on the site. i went in to check it out and amazed of everything on there,

with $20 prints of sha gal and i like $20,000 prints out of my price range. will you put galleries out of business because of this? >> adam, thanks for inviting me on the show. we're super excited about the launching of amazon art. as you mentioned last tuesday we launched the new business which we think is terrific for customers. we launched with over 40,000, this is what you're describing you got lost in, over 40,000 unique pieces of fine art from over 4500 artists. so super exciting. to answer your question about galleries. quite the contrary, actually. we launched with over 150 galleries who are our partners in venture and the galleries are very excited to reach over 100 million customers here in the u.s. and over 200 million customers worldwide. adam: worldwide. that was a loaded question. i set you up because some critics of what you're doing say that i read an article out of forbes which there was a gentleman who i think takes offense what you're doing.

he said art is an investment. sound if he is missing the point. art is to bring you pleasure for whatever reason. the people spending millions you point out need to have art authenticated perhaps at amazon that can't happen. all you're is bringing me to the consumer to the galley and the gallery still has to authenticate, do they not? >> they do. authentication talking to our customers it is super important in the world of art. there are two things we do, one is the 150 galleries we launched with are some of the most reputable prestigious galleries in the world. so we know we have really good partners. two, not just for amazon art but all purchases made on amazon we look out and protect customers. we have what is called the a to z guaranty which also applies to art. for any reason, you have a problem with the art purchase we always back up every single purchase customers make. i do think, galleries are very excited to be able to expand their reach. they're in,en you think about a

maybe they can reach 100,000 or couple million people but the idea of being able to reach, you know, 100 million people in the u.s., 200 million people worldwide, it is very, very exciting for galleries. we're happy to have them as our partners. adam: we talk about this being international market of $64 billion. to put it in a little perspective the veterinary industry just in the united states is 14 billion. this is a huge market and you're now bringing this to everybody. >> yeah. adam: i found an artists. she lives in canada. you didn't have something of hers for sale and took me a gallery that had her work for sale. the way amazon revolutionized self-publishing allowing writers to bypass publishers and publishing houses to make a profit without them, might you do that through artists where i could commission someone through amazon whose work i like? >> that is not the approach we're taking through amazon art. we want the galleries to be able

to feature all of their artists and expose all the great works of art to customers. if you can believe it, adam, we have 4500 different artists for you to check out. one things that makings the store very unique is that as you were sort of describing, as you discover an artist you can actually see all of their works of art. not just one particular piece that you were looking at. but you can also discover other works of art from that gallery. we found so far from customer feedback, that is really important. a lot of times customers start with a piece of work they like. they discover an artist but also discover a gallery they love. we really want to support galleries in our business. adam: let me pull back the picture of mao '93. a sour vintage if you're anticommunist. this is a piece of art by andy warhol for sale for $200,000. people would buy pieces of work

much less than $200,000. i isn't that the goal? having people buy affordable pieces of art really brings it to everybody? or will it be majority that is high-priced art? >> no, you're spot on, adam. this launch allows art to be more approachable for lots of different types of art customers. you know, hard to see this on the site but 95% of the art we have for sale is under $10,000. a lot of it is really beautiful photography, limited edition prints and kind of that 100 to $200 range. if you think someone who will decorate their house, starting an art collection for the first time, we think we've got the world's largest selection of fine art to go serve them well. adam: i have taken up a collection. we're close to the 4.8 million in order to buy the norman rockwell on the site. when you get to wyeth we'll -- we appreciate you being here. amazon revolutionized some things you do and making art

affordable to everybody. people need to be protected. how about people buy art because they enjoy it and make their lives pretty good. thanks so much for being here. >> noise to talk to you. adam: next on "money," can booze help save the post office? this is part after bold plan to put an end to the epic financial losses. tom donahoe the u.s. postmaster general will join us with all the details. egypt is exploding with violence. at least 278 people are dead after a brutal government crackdown. clashes are spreading across the country. is american aid going to come to an end? more "money" coming up. does your mouth often feel dry? a y mouth can be a side effect of many medications but it can also lead to tooth decay and bad breath. that's why there's biotene. available as an oral rinse, toothpaste, spray or gel, biotene can provide soothing relief, and it helps keep your mouth healthy, too.

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♪ adam: everything changes. so now to a kind of delivery which would be new for the u.s. post office and in a desperate hope of saving revenue the agency is pushing a that would allow shipments of alcoholic beverage and boy do they need to do that. just last week the postal service announce ad third quarter loss of $740 million, bringing its year-to-date losses of nearly

4 billion. can alcohol delivery uncork some huge profits. i spoke to the man behind the plan, postmaster general patrick donahoe a few moments ago. welcome back to the program. a pleasure to have you here, sir. the loss is better than it has been in the past, is it not? >> yes it is, adam. we've got a lot of legislation but it is in the house and senate and we're encouraged with the progress. adam: one proposal is to allow the postal service which is not allowed to deliver alcohol. in fact i have ordered, there is a wine firm in california that ships through a private shipper but then, this would open it up, i could get it through the u.s. postal service, correct. >> sure. we think that there's a nice opportunity, especially if you're a small firm, a small winery or small microbrewery, the idea being able to pick something up there and put it in a priority flat rate box and ship it makes it convenient for both side. adam: i know all 50 states have

different regulations over the sale and delivery of alcohol. doesn't this become a bureaucratic nightmare for the united states post office? >> no. we follow the law. right now you can ship wine in many states. there are different rules and of course we follow them. adam: this would raise as much as what, 50 million more a year for the postal service? >> that's what we think. we think there's a nice opportunity. adam: so it is a revenue stream that should be pursued but at the end of the day it down nearly come close to closing the gap that the postal service faces. you have billions of dollars in losses every year. >> yes we, the biggest thing for us is to get legislation passed as you've noted, that really results in a number about other very large issues, namely health care costs that we have, are trying to resolve. the health care alone is a change of $8 billion on the yearly p&l. it is guy began nick.

and six to five-day delivery. we want to move to a five-day delivery schedule for mail, six on packages. that is worth $2 billion. that is big money. adam: that is big money. why does on one hand congress is screaming and yelling at the postal service, whether accurately or not is poorly managed, and postal service says okay, we made a management decision we'll not deliver on saturday or sunday and congress ties your hands and doesn't let you go forward with that. seems a little hypocritical, does it not? >> we have to work through those. you have different people looking at different issues and the key thing for us is to communicate and make sure that people understand the key issues that we've got to make changes on and why. we laid out a business plan. very clear just like any other business. looks ahead five years and lays out a number of actions that have to be taken to get us back on good financial footing. adam: as has been pointed out in countless newspaper articles and television reports, you might have a post office in one town

next to the post office in another town not very far apart. which is a waste of money. you want to close offices as well, postal offices to save revenue. yet congress ties your hand on that. doesn't seem in simple words, fair, you're trying to right the ship. seems as if congress is in your way. >> a lot of changes create problems for people at home. we have a solution on post offices. we in fact have 26,000 post offices. over next year half of them will move to part-time hours. they will stay open. they will be affordable. that is issue we think is resolved at this point of the we have to get people focused on health care and six days to five-day changes. adam: at the end of the day, i find it very complicated to to the point i don't truly understand it, the requirements the congress imposed on the postal service the last few years for funding your health care retirement benefits are different than any other agency or even private business in this country has to adhere to. that puts you at disadvantage.

that explains these tremendous losses. is that an accurate statement? >> that's correct. we're required by law to prefund retiree health benefits. we have two retirement fund for regular retirement. they're funded. not a problem and we're required now to prefund retiree health benefits. the problem it is done on much shorter payment schedule that we can afford and we need to address exactly what we're paying. that is laid out by congress. adam: does anybody else in the united states have that prefunding requirement? >> no one in the united states is prefunding requirement and even worse, no one in the united states is required to overpay for retiree health benefits and not take full advantage of medicare which we're the second largest payer into. there are two things we need to fix. adam: mr. donahoe, appreciate you being here. i lived overseas and i appreciate the service from the united states postal service and even with cost of stamps on occasion going up. it is cheaper than someplaces i

lived. thank you very much, sir. >> thank you, adam. adam: next on "money," deadly chaos in egypt. a crack down on the muslim brotherhood supporters leave 278 people dead. could this be the final straw for u.s. aid to egypt? we have new details for you. much more "money" coming up after this.

adam: now the deadly situation in egypt. new reports that almost 300 people have been killed as of today including a veteran cameraman from our sister network sky news out of england. hundreds more were hurt after violent clashes between pro-morsi protesters and the state security forces of the as of right now, egypt's interim

vice president has resigned and the interim president, adly mansour, has declared a month-long state of emergency. plus there are cure fews which have been issued on more than one dozen cities throughout the country. needless to say the drastic situation has our government, the u.s. government, reviewing the 1.3 billion in aid we provide to egypt annually. we want to bring in the president of the american islamic forum for democracy to help us understand exactly what's at stake here. and when we see this kind of violence in what had been, i don't want to say a democratic country because it had been a military dictatorship under the previous presidents but this can't be good in any way. is there any silver lining to any of it? >> well, i think the silver lining would be there if they were getting some adult supervision from the leaders of the free world like the president who is unfortunately finding it more important to play golf and be on vacation.

they need a time out. see the evolution of the two strong horse, secular fascists of egyptian military versus islamists of the islamists since they were ousted they didn't have a democracy. they were authoritarian in their processes. only thing democratic they did was get elected. the military had fed into, since they were taken out of power, they stoked violence. they want to become victims. they want to become martyrs. they burned over 20 churches. they even recently destroyed a youth center. the military rather than respond with calm has actually stoked the violence more so and is on the edge of a civil war. adam: that's what's so troubling here. i mean egypt is the largest arabic nation. it has got the largest population. you have so many different kinds of people who live there. you have christian coptics and

sunni muslims and shiite muslims. the majority are not radical muslims we see in the streets or are they? >> we saw the largest demonstrations in humanity, adam, happen ad month ago when m brotherhood. what 60 years of oppression and violence against the brotherhood could not do, one of them trying to run democracy, rising from five to 10 million in the street, 30 million, almost half the population signed a plebiscite to have them removed. mostly 90% are muslim. they don't want the islamists but they have not been able to thread the needle of democracy, they get lost between the two fascisms, mubarak era military which we see back to their violent ways and brotherhood which are into putting into place a islamic state and controlling through sharia and theocracy. adam: i will bring this up in form of our discussion for understanding but would it make sense to continue u.s. aid because perhaps we could put

influence on the military to transition to a democracy or democratic government made up of that majority of people who are not radicalized? >> well, adam we have to put the aid into context. remember, already, most of our 2013 aid of the 1 point 5 billion already has been sent to egypt. so recently the senate panel looked at this and they were looking at 2014. if we're going to stay relevant we have to say we don't want to destablize egypt completely but that is leverage. how big of a leverage is that? you remember saudi arabia, kuwait and the emirates already promised 12 billion to egypt in the next year. adam: yes. >> imf has 4.8. they're looking, we could leverage that. our biggest point, adam, help them build party politics. help them build institutions of democracy and truly lead the free world. it is not just about economic aid. adam: how if you're the authority in egypt now, the military government and you have

30 million who are leery of you but clearly prefer you to the violence in the street, how can you prevent this? i'm looking at the screen right now and i realize this might be the minority, but that is getting attention of cameras across the world. >> well the act of the vice president today, elbaradei resign something a act of cowardice. the ones against the violence, that want to thread the needle through peaceful evolution into democracy need to stay in power and put pressure on both side of this violent equation that benefits both of them and say the people want peaceful transition and start to say that this is not the way both needs the timeout and say we are going to bring human rights groups in, now they turned away and reneged saying they would be transparent and put the pressure of the free world upon them right now which they are not seeing and we're becoming more and more irrelevant, rather than being relevant into their transition and call upon people like elbaradei to stay there and say

we'll push the military to be fair and also push away islamists from driving sectarian violenceeand ripping apart egypt in their sort of vision to control theocrat i cannily egypt's future. adam: we appreciate you being here. we watched at one point the cradle of civilization. now the cradle sill of -- cradle of unrest in. >> thanks very much, adam. adam: futures hit a high driven on fears of middle east oil supplies. along with growing production disruptions in libya fueled the growing anxiety. it is brent crude's third straight session gains. u.s. oil production struck a 24-year high last week. that is according to the energy information administration. output climbed to nearly 7.6 million barrels a day. that is the highest level since december 1989. natural gas prices could coming to an end. below than normal temperatures for the northeast and mid-east

won't be around much longer. temperatures are expected to get hot in a week or some that sent natural gas futures dumping. relatively cool weather put a dent in natural gas demand but it was sure welcome here in manhattan. next on "money," two former jpmorgan traders are charged in the "london whale" scandal. who should pick up the tab for white-collar crimes? we get an all-star panel to weigh in on that one. "who made money today?" it was a rough day on markets but these guys are not playing the blues tonight. a hedge fund giant gave them one grand deal and we'll tell you why. stick around. "piles of money" coming right up. ♪ my mantra? trust your instincts to make the call. to treat my low testosterone, my docr and i went with axiron, the only underarm low t treatment.

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>> we happen to live in aim too where not just one bank but one trader within one bank can do catastrophic economic harm in practically the blink of an eye and recent history bears that out. and that is why prosecutors need to be even more aggressive. regulators need to be even more vigilant and as i have been saying for some years now, companies themselves need to pay closer attention to the cultures that they create much. adam: that was u.s. attorney for the southern district of new york preet bharara speaking about the impact of the now-infamous jpmorgan "london whale" trade. two former traders were hit with charges for their involvement in the scandal. ashley webster has the latest what is going on and what could happen to those two gentlemen of the ashley. >> indeed, adam. javier martin-artajo and julien grout are charged with four counts including fraud and falsifying records. a major fudging of the books say the prosecutor the department of

justice is confirming that the man who actually executed trades, bruno iksil, the so-called, "london whale," is cooperating with the government and will not be prosecuted of earlier today the fbi sounded off on this case and what it could mean to future investigations. the defendants, this is a quote. the defendants are concerned about losing control to other traders at the bank fudged the numbers on their daily book and in some cases completely made them up. it brought a whole new meaning to cooking the books. this should be a warning to bankers and traders everywhere. integrity can not be sacrificed in the producing of income and profitability. the fbi will continue to investigate these cases so long as people fail to heed that message. strong words from prosecutors. arrests have not been made. calls to attorneys for both men charged have not been returned. adam. adam: this means that there could be others charged in the "london whale" case or is this

the end of it? >> there are other investigations. federal reserve. u.s. banking authority in the u.k. both traders were based in london. the u.k. financial conduct authority is also looking into this. so the investigation isn't over. we should point out that martin-artajo is a spanish citizen. julien grout is a french citizen. the question will they turn themselves in to investigators here in the united states. prosecutors are hopeful that will happen but defense will they mount? will they cut a deal or say look, this was approved by our superiors. that could open up a whole can of worms. that is not good news for jpmorgan chase. adam: you bring up a great point a can of worms. >> yeah. adam: two gentlemen they have to prosecute if guilty and two gentlemen might have broken the law and cost the bank roughly 6 or $7 billion. versus investments banks, commercial banks, ratings agency, freddie mac an fannie mae which cost the entire

economy cost us 7 trillion and good that the government is on top of it. >> which have two what you would call midlevel executives here being found guilty but the question here how far up the chain does it two? will that come out in this case. will be interesting to follow. adam: banks sometimes get to plead neither guilty or not guilty. >> that's right. adam: ashley webster, thank you very much. we'll change the subject who will pay the legal fees because at love this is tied to the power of money and it is feeding the growing debate on wall street over who should pay all those legal bills. white-collar criminal cases seem to be more prevalent than ever but they don't all seem to be treated equally and that goes no matter what firm is involved, whether it is goldman sachs or sac capital, both of which have been dealing with criminal scandals as of late. joining us now, james tracy former coo of monster wordwide. we'll call him jim, who was convicted of white-collar criminal activity himself.

mark calabria, cato institute and teresa gooding, former attorney with the sec. i want to talk to you first from a person who has been on the other side of this. if you had to pay your legal fees out of your pocket from the get-go, doesn't the government have an advantage? the ability to tax is ability to destroy? the ability to prosecute is the ability to commit nuclear annihilation, is it not? >> they have enormous advantage. the deficit is running. if they are after a case they can spend as much as they want as they continue to go after it. often times many people who plead guilty. doesn't necessarily mean they are guilty. either their scared of prison or will you bankrupt me and leave my family destitute. adam: that is a great point. would it be appropriate to forbid companies to pay legal fees of employees in these situations or would that be counter in getting fair,

democratic judicial process. >> it absolutely should not be forbidden. there is a place for indemnification but it certainly shouldn't be a blanket rule. you have several different factors coming into play. to get in good executives and directors you do need indemnification agreements. you have to think about the shareholders and the companies and should they have to pay the legal fees of wrongdoers, of people who are cheating, lying and stealing? no. there is a balance. adam: i don't mean to be snarky, but board of directors caring about shareholders of a company? that would be new in a lost cases. let me bring in mark. we've seen examples, for instance, sac capital are paying legal fees of two gentlemen who could be flipped and testify at others at sac and will not pay fees of a gentleman who has already flipped. what does it say to the average american how all this works? >> this is interesting dynamics. these agreements need to be laid

out at beginning of a an employment relationship. over back and forth will we pay your legal fees, will we not pay your legal fees depending depent you say i think is problematic. we saw this coordination in the fabulous fab case where his lawyers talked to the goldman lawyers. it raises questions where you don't want a situation where the firm says, we'll pay your legal fees if you cop to this and be the fall guy. you really want to have clear rules ahead of time. now again, i think the question of whether you're going to roll over and you're going to, you know, testify on past government and they're not going to pay your legal fees, that's reasonable. i don't think a company should be required to pay legal fees of somebody testifying against the company. that is probably going a little too far. for employees doing things generally within the line of their business, we're not talking about companies paying your legal fees because you run a school bus of children off the road on your way to work. we're talking about is this within the scope of your employment. that really has to be the relevant question to me. adam: jim, in the case of raj

rajaratnam -- or group at that out of the raj rajaratnam. after he lost the case they went to get them back. what do you think of that? can you relate to that any way? >> i suspect they're trying to claw back fees because it is a favorable position to take for the government. actually governmmnt would like to pick up pressure. indemnification would say they have the right to do that if they like to but they don't necessarily have to. adam: you want to chime in. >> if i could interject because goldman is formed in delaware and there is a law that prohibits companies from paying legal fees of its employees if they have done -- adam: found guilty? >> not just guilty but they have to have acted in bad faith. so, you know -- adam: calling raj rajaratnam to tell them about a major deal, i guess that would be bad faith. >> insider trading is bad faith but, with fabrice he was arguably -- adam: doing what goldman is telling him to do although they

have never been charged with that. >> for sure. >> exactly. within the scope of his employment. adam: yes. which was selling a bogus series -- it wasn't bogus. it was legitimately bad. he didn't tell the people it was bad and person on other end structured it to be bad. mark, let me bring you in to this. my ignorance, thousand ought you will the firms had insurance and people footing bill were insurance companies who covered c-suite plans. >> that's true. and that is going to be true even in the case of midlevel employees. it is not simply the case for the directors and executives. my suspicion i don't know details with fabrice. my suspicion goldman will get insurance to cover that one as well. i do want to emphasize, i think there's a big difference between civil case or criminal case. you have to take that into consideration. but i think it is important to keep in mind, there is so much litigation goes on and a number of people are innocent and a

number of people are guilty. you don't want the innocent to have very large litigation costs to defend themselves. adam: sure. >> especially if it is in the line. i'm not one to sacrifice the rights or professions of accused or whether they are bankers, drug dealers or anybody else. think they are protections we need to keep in place. adam: quickly, jim, there is difference between a civil and criminal case. let's wrap this up. >> in the criminal case it furthers business of company and dispuue over regulators f that gets criminalized the company is more likely to come after you and try to separate themselves from you than they do on the civil side just to please the prosecutors and get away from it. adam: i appreciate all three of you being here. we'll cue the lapone song, don't cry for me, goldman sachs. coming up on "money," coca-cola is putting forth a whole new marketing strategy not on flavor but a controversial ingredient in its diet drinks. is this the new way to make money? a top marketing maven will weigh

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adam: no matter what time it is money is always on the move. shares of cisco systems are slumping after-hours. tech giant extending losses after reporting fourth quarter earnings and they missed on revenue. the company announced plans to cut 4,000 jobs or 5% of its workforce as it tries to reduce its expenses. a new ad campaign today by coca-cola is taking some people by surprise because the beverage giant came out and took sides on a controversial ingredient in its diet drinks, aspartame. coca-cola is calling the artificial sweetener something, and this is a quote, something people can feel good about. this is interesting stance for the company. the fda approved aspartame 30

years ago. safety concerns continue to the plague the website. although the american cancer society on its website says there is nothing dangerous about it. is promoting aspartame a good move or could this whole thing backfire? to help us understand all this, marketing guru peter shenkman. thanks for joining us. let's be real simple, the slogan or statement that coca-cola is using, something to the effect of -- >> feel good about it. adam: feel good about it but not good for you. am i picking up -- >> sort of a "mad men." four to five doctors say pall malls are healthy cigarettes. adam: prefer this cigarette. >> same thing for coca-cola to do, to steak a stand at all is really interesting because they tend to stay out of that. they don't talk about the ingredients and have nice shiny can and have celebrities promoting it. adam: who doesn't love coke? >> it is not hurtful. doesn't hurt them in the short

or long run. if in 10 years we find it is bad for then, they are in trouble anyway, they are coming under fire whether they make something with sugar with artificial corn, not artificial or corn sweeteners, or artificial sugars. these are the new boogeyman in society. >> these are a shot across the bow. they're not fighting bloomberg. 64-ounce won't make you fat. they will not say that it has 80,000 tablespoons of sugar. they will not say that diet coke has no calories and won't make you fat and stuff in it probably won't kill you. adam: it is not a probably. we have to retie, i realize that if my aunt were a man she would be my uncle. that is a funny expression. here is why i bring it up. the science is clear. aspartame is not harmful. there is nothing conclusive. the reason it seems, this is on the american cancer society website. seems people believe it is

harmful there was a study that was discredited years ago, it was discredited because the people who had developed cancer, most likely they developed cancer years prior to aspartame being introduced into the market. >> they're not, again, is this going, the real question is this going to affect sales or people who drink diet coke? the answer is no. if you have a diet coke addiction they could tell you grind up children and put them in and exactly, if you have a diet coke addiction you will not stop. same people who smoke cigarettes and don't want to quit. they know it is bad for you. this stuff is not even proven bad. adam: this is not defense for them. >> that's the point. adam: if 20 years from now god forbid it is proven these products are harmful, coke said you should drink in moderation. >> if they're harmful 20 years from now they're in trouble. >> if the science says they are not harmful you and i are having a discussion based on a premise faulty at this point based on our understanding this is canner

rouse. >> anything in 20 years could be harmful. that is the stance coke is taking. there is nothing wrong with that they should port support the product and i'm thirsty now. adam: at end. day does coke win with this move or do they lose. >> they don't lose, put it that way. adam: you sound like someone on television. that is the most monn commit call -- non-committal. they shade disco music was harmful 20 years ago and now call it dance music. thanks for being here, peter shenkman on melissa francis's money. adam: we have news run the deadly plane crash this morning. we want to go to ashley webster. >> this is many coming from chairman and ceo, scott davis, all of us at ups extend our deepest sympathies to the families and friend of the two crewmembers. pilot and copilot are dieing this morning. our efforts are primarily focused on helping the families. there you can see the quote there. the flight this morning. those two pilots were flying an

airbus a300 left from louisville, kentucky to birmingham, alabama. the ntsb now on scene to conduct the investigation and of course ups putting out that statement saying saying that primary concern is for the families of the two airmen that were lost in this crash this morning. and of course, you know, as you know, adam, ups spends a lot of time in the air getting these packages from one place to the next. and, the cause of this accident, this plane going down just short of the airport in alba. they're looking of course for the black box. they will go through all the data to find out exactly with causes that crash. that is the latest statement we have from ups. adam: ashley webster, they operate the 14th largest airline in the world. 400,000 employees at ups are mourning the tragedy. thanks for the update from scott davis. ashley webster in the newsroom. next on "money" he fired a worker with a thousand employees

listening in. now aol ceo tim armstrong says, i'm sorry. really sorry. is it enough to extinguish a firestorm of bad publicity? i can't even talk. publicity. even a possible lawsuit. we've got it all in "spare change." you can never have too much money. ♪ at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, u need an ally. hello?

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♪ adam: for a little fun with "spare change," we're joined by veronica dagger and the tony

sayegh. the star of karate kid. no he is not ralph macchio. latest turn in a story everyone taub about aol this week. it all began with ceo tim armstrong, publicly firing a high level employee in the middle after 1,000 person company conference call. listen to this. >> from an -- abel, put at that camera down right now. abel, you're fired!, out. adam: then he went on with the call. now armstrong is apologizing to all of his staffers for the shocking incident. abel, who was his creative doctor, had been warned several times not to film during meetings. that is why armstrong fired him. armstrong is working to turn aol around, here is the question, how do you think this will impact all of that and what he is trying to do. what do you think, veronica? doesn't sound so nasty if the guy had been warned? >> it was nasty. from a pr standpoint. i'm not a publicist but i talked

to my friend who are publicists, from a pr standpoint this looks really bad. this is not a good move. there are some other ways -- adam: in private. >> in private to obviously fire someone. you want to put the company in the most positive light possible. to put this out there is a real distraction. adam: don't you think he was auditioning to be donald trump's replacement? >> if things didn't work out at aol, right. adam: doesn't sound like things are working out so well. >> certainly with the patch. i had no idea that aol owned the patch. adam: armstrong sold it to aol and still failing. >> still failing. in any event you don't have a great business. the fact that he issued a four paragraph statement detailing, apology to this individual, shows that knows he made a mistake. usually because executives have to keep cool even under pressure. and he, while not sounding unhinged did do something seemed impulsive. adam: isn't that the key? apology explaining all this shows, it he was truly in the

right, veronica, to fire the guy. >> that would have been the case. i think is probably worried on some aspect this will be turned into a lawsuit. in new york, you can fire someone. adam: of course you can fire someone. abel, are you watching? >> reputational damage to abel could be huge. but at same time, there are other websites such as business insider, put abel's resume' up there. adam: veronica, tony, appreciate you being here. tim armstrong, if you're watching for the donald trump song. up next , "who made money today?" here's hint, john paulson. hedge fund titan giant is is hitting all the right cords for him. we'll have the answer. we can never have too much money even if you're armstrong. ♪ you make a great team.

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forty bucks a share. it is best known for the grid piano. 8% and closing above rumored the higher offer could come in at the last second and read while losing money today, then if everyone knows me sees. it also cut the outlook has spenders resisting shopping for nonessential products having shares dropping 4% in making many between time-warner cable if cbs. you may not be able to get cbs to to the blackout but

anything to not this letterman. they have a lot. that is all we have got i hope you made money today. we will see you tomorrow. the willis report is next. >> tonight on "the willis report". said years after much of the country suffered a blackout has the power grid change? another foundation under fire. this time bill clinton running a multimillion-dollar deficit and i will break down the numbers. take a bite out of apple find out why it regains its shine and we watch out for you tonight on the willis support.