tv MONEY With Melissa Francis FOX Business December 12, 2013 5:00pm-6:01pm EST
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he executed his uncle. >> how about that? can't say we're surprised. third consecutive day of losses with the markets. "money" with medical list is next. david: see you tomorrow. melissa: one of america's female billionaire is right here, ready to get down to business on her hardcore reputation for taking charge with no apologies. all the way up the ladder and shattering the glass ceiling. the larger than life lynn kilton. exclusively right now. even when they say it is not she always knows it is about money. melissa: i am so excited. i've been waiting for this day. private equity titan lynn tilton is the owner of more businesses than any other woman in america. she is a self-made billionaire. her firm, patriarch partners, manages 75 companies with revenues in excess of
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$8 billion. the wall street tycoon herself is here in fox business exclusive. thank you so much for coming in and doing this. >> it is a pleasure to be back. melissa: there are some things i want to talk to but let me talk to you about what your firm really specializes in which is taking over distressed manufacturing companies. you have said that this company, this country need an industrial base. why do you think that still? >> well, i think the the biggest problem we face in this country is joblessness. melissa: yeah. >> the only way to put enough people back to work is really be the maker of things. and so in order to have a prosperous economy that takes everyone along with it we have to be an industrial economy. melissa: but a lot of those jobs are being replaced, it is robot week here on "money." you know there are a lot of things that are becoming automated. you have many row that can do repeat tasks you see in factories an manufacturing elsewhere. how do you fight with technology and progress. >> i don't think you do fight
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with technology and progress. i think you embrace it but you take it even further to realize that there's really a manufacturing revolution happening in america and that is with artificial intelligence and robotics and 3-d printing and internet of things and, with that way you can really make things where you sell them. so so much that we brought overseas really can come back to america now and so, what i say is, we might have miss ad generation of manufacturing in this country where overseas built better facilities with better equipment. we don't really need that equipment anymore. we need to train people and educate people in smart manufacturing and really begin to embrace making things at home where we sell them. melissa: if you quantify the numbers job that is are involved in that, i mean to me seems like there are a lot of jobs that have been missing because like you said, it is being made in china but is it the same number of jobs you saw in a ford factory building cars and stuff?
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or it is fewer if you have robots, right? >> well, it is, most of the automotive is robotic already. we've been using robots in automotive industry for a very long time. so there is, there are fewer jobs that would be done if everybody was doing everything by hand but there are some, industries that just fled this nation. you know the textile industry, sewing industry, paper and pulp, copper and steel. when these things can be made different, when the product that is can be made from them are made differently, we'll be three dimensional printing most of what we do. i build helicopters and i'm looking to see how many parts i can print three-dimensionally this year and ultimately i expect i will be three-dimensionally 3-d printing helicopters. melissa: how many parts you're printing this year you're doing that in the helicopter space. >> yes, we're already doing that in the helicopter space. melissa: what does that mean to your busiiess? we were talking aboutd
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printing yesterday a lot means for a manufacturer having a spare part lying on shelf that may never be used and you can wait until you need it and print it. is that advanced now? >> for certain parts it is. it is really materials challenge now and as printers use more and more of materials like magnesium and titanium and print composites, then it's going to explode rather than just resins and certain types of materials. so, yes, you're going to be able to print to order. you are going to be able to print spare parts. and i think the biggest thing is, you won't run out of parts, right? you will needless inventory and when people need parts overnight you will be able to produce those parts. so it will absolutely transform industry. and if you don't go to it, you're going to be left behind. there is no in between anymore. melissa: so where would you say we are in that process? i mean are we bringing manufacturing back already? did it just begin?
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where are we in the process? >> i think it is inching its way back. i think some of this virtual space and three dimensional space is, people are easing into it. they don't know where it is going. they don't know how much of it they will be able to accomplish. and i think that trajectory is going to be very steep and the pace very quick. i think over the next couple of years you're going to see an explosion of people building plants that are mostly three dimensional printing. >> what are challenges to that? what are the headwinds? do you see, for example, is there union pushback, that there aren't enough employees working there? what do you worry about as this begins to happen? >> i would tell you the most difficult thing i fight is my own people. when you move from something that people do know, to something that is the unknown, people worry about whether they will understand it and whether they will be replaced. so, for me the biggest headwinds is pushing back on my own engineering and my own people who are much more could
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comfortable what they have been trained with and what they know. so a lot of times it is very hard to get into a large organization and it has to be skunked in, where you start on special project. people get excited and get inspired and roll it back in. i had to stand in front of 15,000 automotive workers in detroit recently and say we're not longer an automotive parts company but we're a technology company. melissa: how did that to over? >> i think first time people are pretty paralyzed. as we started to bring some of this stuff to life, as we started working on some major projects people are getting more and more excited. and look as a leader you have to inspire and you have to show people that it is possible ann you have to tell people not to be afraid. melissa: going to be okay. >> well especially if you go with the flow. if you fight it, it won't because then, either we will lose or you won't come along with it. melissa: yeah. >> but if you let go, there is room for everybody who who wanto
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jump on and learn and be part of it. melissa: we have to squeeze in a quick break but i want to ask you when we come back about your politics because in reading about you it is confusing. you've supported hillary clinton in the past but you are very against the tarp program. you're very vocal. i want to ask you about all of that and keep our audience engaged here. we'll squeeze in a quick break. we'll be right back with that and more. i also want to ask you about a charity you're working on and your own personal style which is decidedly feminine. hopefully we have time tore all that. don't move. don't forget today's robot week segment. doctors are beaming into a hospital near you. it is thanks to these machines. they're walking the wards across america. this is not science fiction. more "money" is coming up. i'm sorry, i'm just really reluctant to try new things. really? i'what's wrong with really retrying new things? things. look! mommy's new vacuum!
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3 million? the answer is. 3 million homes. by 2030, investments in energy efficiency could help americans save $300 billion each year. take the energy quiz. energy lives here. melissa: we are back with lynn tilton. the corporate titan made a name for herself on wall street with her no-nonsense attitude and her own brand of style. she is here with a fox business exclusive. i wish the cameras were rolling during the break there we were talking and you said this is most exciting an one of most terrifying times to be in
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business. what why is that. >> it is no longer survival of the fittest but survival of the adaptist. if you're a small and mid-size company today especially in manufacturing, if you don't change you will disappear. everything is about product and leading with product. if either designed or disruption. either has to be so elegant and pops off the shelf or has to be technology. and then how you make it is going to completely change. so if you can not let go, and sort of follow the moment, and move in the way hat technology has determined, it is a must, then you really will not survive. you will render yourself irrelevant and you will disappear. melissa: we were talking about the idea, one of the hardest battles you said in the last segment convincing people inside your company that things are going to be printed with 3-d printers. we have to get with robotics. it will not cost you your job. we have to go with this. the alternative the whole company is going out of
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business. you hold on a to the job and that means the whole company will go under, right? >> it really will. it is not just words. if you can not change both in products you make and processes which you make them in this country today you will be irrelevant. melissa: i promised everybody i would ask you about politics because i find your politics confusing. you know you say, you were against the tarp program. you were pretty vocal about that. at the same time you've given money to hillary clinton. what do you see as the biggest headwind coming from washington right now. who is helping business? who is hurting business. >> i think biggest problem there is so much decisiveness. i think we've become a country divided instead of a country united. i think those who have need to feel and inspired to give and those who need, need to be appreciate, appreciate for being given too. and i am about america. i'm about sort of love of country, loyalty to community, to company. you snow, and i feel that is just been lost.
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i hate when i hear, these are the good people, these are the bad people. you made money. therefore you took from someone. you have nothing. therefore you're a good person. and i think we're just dividing people be rather than spending time bringing people together. melissa: how do you do that though? how do we bring people back together. how do we stop this feeling that, you know, you have to take from the rich in order to increase the poor? i feel like, there's a big part of america that right now that doesn't believe a rising tide lifts all boats. they don't believe that any longer. they believe you have to take to get. >> i think capitalism with ethics is an amazing force in this country but you have to create jobs. you can't expect it just to happen because things get better for very large companies or the stock market goes up. it has to be problem solution. >> what is missing piece. stock market goes up. and jobs are not created what
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are we missing right now? >> because most of the growth is going on overseas. there isn't any incentive to create jobs. there are no free trade zones. you're giving chance to build manufacturing facility if you're creating jobs. i don't know why detroit, we don't plow down abandoned houses, create free trade zone. give many so of that land to the pensioners who you're taking some of that pension away. get everyone involved in their city. encourage people to come build, new, smart manufacturing plants. we have to do something knowing we need to create jobs in this country it will be forgiving. when people have money and can take care of their families they're not criticizing others, they're focused on their journey their dream. we've taken that away this
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country. we don't spend enough time thinking about those who don't have. one in three families below the poverty level. so many kids going hungry in this country. onny thing that will fix it is jobs. we've become the populist of permanently unemployed. melissa: how do you get that message back out though? >> i'm souther after repetitive statement, you know, anytime i speak i speak about that. i think we need to care enough about others. once we put people back to work. people will stop trying to tax higher or take more. that is just a ban aid. i built my business around giving people the dignity of work. melissa: in fact right now, the reason why you're here because janes cosmetics is working on a charity right now to give back cosmetics and a makeover to people who are, women in homeless shelters, right? what is idea behind that. >> i relaunched jane cosmetics brand. it was a old brand that had gone
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off the shelves. i decided i wanted to make it a message from my heart, that women should be kind to other women and every woman should have the courage and confidence to embrace opportunity. what we did, was we launched it in ulta and kohl's and a thousand stores. buy one, give one to neighbor in need. for everyone you buy in that store, we give one to a shelter for battered women in that community. because we want to make people feel beautiful. the most beautiful that they can be, not beauty of a magazine, but their beautiful self, so that they have the confidence to make anyone else treat them as that beautiful that they feel in that moment. and, to embrace opportunities so i'm traveling the country with ken pavis, celebrity stylist, who we're doing a new hair care line with, sarah solaro celebrity makeup artist from
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jane and richard lowe and our designer at spiegel and we're going around to shelters for women who are less fortunate and we're making them over soup-to-nuts, doing their makeup, give being them hairpieces, dressing them up. when you see the joy they feel, and my message to them is, you know, remember this moment and know how beautiful you are and do not let anyone treat you with less dignity than you feel at this moment. melissa: lynn tilton, thank you so much. i wish we had more time. there was a bunch of stuff we didn't get to. will you come back? >> i promise i will. melissa: thank you. up next, most people head into an interview wanting to get the job, right? what happens if your future boss hasn't even read your resume' or maybe bad-mouthing his workers. we'll tell you when you shouldn't take that job no matter what. it is that time of year when you're expected to tip just about everyone, have you noticed this? is there a limit and can we all really afford this? piles of money coming right up.
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melissa: so it is no secret that the job market has seen better days and if you're unemployed you might be tempted to take any position you're offered, no matter how desperate you are there are certain red flags you should never ignore during a job interview. here how to know when not to take the job is employee engagement consultant chesser elton. chester, thanks so much for joining us. i love this you go on a job interview and you're filled with hope. this is it! i can see myself at company. >> my dream job, that's right. melissa: but there are things and happened to all of us when you go on job interview that are red flags that you should just flee. >> absolutely. melissa: number one the person
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interviewing you says bad things about the person who had the job before you. >> this is so key. tells you a lot about their culture. the way you welcome people to the job says a lot but the way you say good-bye says even more. as soon as the door everything is their fault and badmouth them like crazy that is big red flag. at some point i may leave this job and what will they say about me. is that the kind of culture where people talk about each other? melissa: another one i saw on the list the interview is really late to the interview. possibly somebody really important happened. why would that set off warning bells? >> you're right and wrong. if they're really late and lackadaisical they don't care about your time and you're not that important. if they go up, sorry i'm late, this, this and this happened, i'm so sorry, then it is not so happen. they don't apologize and saunter in and on the phone. melissa: that happened. >> it's a little different. melissa: that's different. you sit down and they haven't
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reviewed your resume'. basically reading it for first time. that actually happened to me a number of times. oy, you worked at such and such. melissa: i'm like, really you're just seeing that now. >> oh, you're a man? melissa: that to me they didn't say, okay. >> exactly. but that is the thing. they call but i the wrong name. they haven't taken the time to do a little bit of homework. talks about the importance of you and the job. it's a bit of a red flags. melissa: they could be really busy. could be a really busy company. >> could be. they brought you all the way in and interviewing you, they should know a little about you. is it a huge red flag? maybe not. if a couple start to stack up but alarms should go off. melissa: maybe they're not serious about the position. they're not eager to make the hire. maybe you were brought in as a favor to someone to sit down have an interview. >> that's it. you're really eager to get the job. are they really eager to hire somebody? or is this favor to a friend said show up and mention my name kind of thing. there are green lights too you want to look for. if you have really good ongoing
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flowing conversation and you're laughing and after the interview you feel really good about it. those are green lights as opposed to red flags. but there are things you need to be aware of. melissa: no, great point. also, this was a little, they ask you personal questions. like, trying to figure out if you're married. for a lost women they say they fish around and try to see, so you're married. do you have kids yet? >> yeah. melissa: but that, it is legitimate that a employer would be wondering about that. is it bad if, maybe if they come out and straightforward ask you, that that's, you know they're trying to make, why is that bad? >> i think the tone of voice. melissa: okay. >> like, hey, baby. are you married? melissa: there's that. setting that aside -- >> if they go really deep, if you start to feel uncomfortable, i think that is the relationship. if the probing questions start to make you feel a little uncomfortable it's a red flag, if not, just kind of casual
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conversation. hey, we're family-oriented company. do you have kids? how old are they? that kind of conversation i don't think is a red flag. melissa: you feel like if they're trying to feel out and a lot of women talk about this. this was a big point for cheryl stemberg are and got a lot of trouble you should ask on interview, are you planning to have kids soon for an employer to gauge that, is that right or wrong. >> if it makes you uncomfortable it's a red flag. if it doesn't make you uncomfortable and you're proud of your family. melissa: yeah. >> if you're planning on having kid and what not, that is good thing to tell them. you don't want to surprise them either. you want to be candid. >> i think so too. the last one, a company with a toxic corporate culture you should always bewarery. if. you can't think if you go to change it and go to glass door.com, and see people are generally unhappy you think you should not take the job pretty much no matter what? >> depends what level you're coming in at. if you come in as ceo change the culture great but most of us will not be at the level.
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talk to people just left and go online, what did they say. the way people leave a company tell as lot about the culture. they have a lot of churn and lot of turnover you could be next one in the washing machine. melissa: thank you so much. this is really important. at this time people are desperate. they want to take jobs that come along. as you said before the interview started, you're six months or more hyped and start a job like this and doesn't work out, there you go. >> right. >> thanks so much, chester. up next your doctor got a new set of wheels. this robot lets docs beam themselves across-countries and into hospitals hundreds of miles away, no joke. it is making it way to a clinic near you. you don't want to miss this one. >> who is making money today? a guy got a whole lot richer selling off a 16-year-old pair of shoes. what? wait until you hear this one. because at the end of the day you know it is all about money. every day we're working to be an even better company -
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but. ♪ melissa: we have a robot that actually helps doctors advise and diagnose remotely. a robot that rolls around the hospital with the screen that allows a live image of your doctor to be present even if he is not next to you. joining me now, ceo and chairman . show me how woodworks. >> sure. thank you for having his. i will ask my robot to come over here is that is all right. if you can come on up. what we have your -- thank-you. this is our pete v. debt. what is happening, playing the part of a doctor, he is able to be in into this robot from anywhere in the world and then if i was the patient ticket interact with and take care of
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me. melissa: this is like a doctor during rounds at a hospital. it's as a nurse have to follow along or, as the robot room in the halls? >> then there's quite follow with the robot or the doctor in the event that the doctor needs some hands. many times the doctor is moving around and rounding, as you said , in a house brutal apollinaire's to all but other times the nurse is accompanying the doctor. depends upon the situation. melissa: what does it mean it's mentally? , many more patients could a doctor see by virtue of doing this? i don't know how much time that saves. >> the key is what we are trying to do is improve the quality of care for everyone and a lower cost. the bottleneck of the whole health care system is getting the right expertise to the right place at the right time to do the right thing. we have a lot of these political
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experts. like 150 different types of physician experts, and to get them distributed across our 300 million people is a challenging task. and so getting a robot so that he can project their rights specialist quickly actually extends the reach of the physicians to really enable them to take care of more patients. melissa: it is amazing commanders see it working with a patient right now. obviously it is not as good as being their person because it is telescreen. you cannot see it quite as well. are there situations where it does not work? >> you are right in that is best if you can get the right doctor there quickly, but the reality is it is not possible today. a stroke. there are only a few thousands struck virologist in this
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country. 700,000 per year for which happen. and to get those few thousand to take care of the 700,000 strokes no matter where it happens is really challenging. doing is gets the specialists there would otherwise the patient suffers when the specialist tel. melissa: i am convinced. , says the cost? >> close to 1,000 hospitals. the cost is not the robot. we deliver a whole solution called a pauly medicine solution on the order of two to 5,000 per month depending upon the situation. melissa: can you have your doctor talk back to us so we can get a sense of how human this is? >> can you say hi to melissa? >> how you doing. >> hopefully you can hear him. >> we can hear him.
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year in santa barbara. >> i would like to be in santa barbara and a right now. melissa: our hospitals very receptive? reviews see the push back? who is it the struggles? >> there is very little push back. the process is education. you have to get the doctor, hospital, physicians, to understand how this works. and then you have to figure out with them how and it fits into their regular, clinical practice because it changes our people got the day which is really what it takes to. melissa: very cool. we appreciate it. melissa: the fact that you have known all along, some of your co-workers are psychopaths. we will tell you how to spot if
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eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. i've got three important reasons to up my game with eliquis. [ male announcer ] ask your doctor today if eliquis is right for you. ♪ melissa: every corner of the globe, money has been flying, starting in russia. the company -- country has finally chosen a symbol for the currency. represented with a letter similar to a peak which is pronounced as an art. not as confusing as it sounds. the russian central bank says the new symbol will make the currency more appealing to global markets. over to japan where a man's soul $1,805,000 to feed, wait for it,
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120 adopted cats. the unemployed marilyn on a yearlong stealing's brewery broke into houses to rob cash and jewels. he needed the money to keep his case well fed on a diet of fish fresh to the fresh fish. over to georgia where a huge brawl has broken out and the cash is parliament. all benzes cleared the as members started fighting opposing lawmakers. it all started when one politician through a stack of papers across nile. i cannot believe this happened here. a video soon found its way on line. gesturing wildly. just another day at the office. i can't believe we don't do this the word psychopath might conjure images of hannibal lector, norman bates. not all psychos go on killing sprees. some of them go on to be ceos,
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lawyers, even tv hosts. believe it or not, bragging about having the most psychopaths. it is today's "money" talker. that was too easy. yes. yes. melissa: let's be honest why we are do. delusional psychopath or a sociopath or one of those. somebody, a friend of mine, says to me, a tv hosts, they list the top ten psychopaths. tv people number three. journals or number six. i mean, media, tv, radio folks from the number three on the list of the profession with the most psychopaths, suffering from
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[laughter] melissa: bring it back. bring it back. but that is the point. reality is, a very small ego and a very large -- no. and i have never ever been known to have a violent outburst, so i don't agree with you. >> it is not everybody. >> i have the opposite. the wall has stayed there. >> at your my phone against the wall 15 times. >> hr would think that is violence. i don't want to upset you. the rest of the list i thought was pretty frightening. i don't want as psychopaths surgeon. >> don't take one.
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it. >> i almost feel like the definition refers to what you year but as being a god complex. you don't have to live by rules. it surgeons, cmos. television knows cover short. you are an exception. this is where i think the person you did this is going off pace. in order to be a television host , seattle, a surgeon, as you have to believe in yourself. that psychopath. but if you are as surgeon and don't believe that you can do it . believe the you are selling something? >> something. something. something like that. i don't want to delve into my own psyche here.
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>> the one that surprised me the most was clergymen and chefs. i worked at restaurants for years. chefs are insane. >> and they have knives. not a catholic. you know, confirmation in the eighth grade. >> that is a number characterization of a psychopath. >> i hope you are now watching, pastor, clergymen. >> what is up clergymen? >> they bestow things upon people. that is gone like. melissa: police officer. i don't want to offend police officers out there.
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>> everybody is on this free list. it and there's. i thought the nurse was kind of amazing. this serial killer who killed more people than anyone in american history. number three is known as sociopath. and my sure that is a recognized profession. >> in my neighborhood it was. it was okay. melissa: not a sociopath. an accountant. you have to be at psychopath. it bottom-line to monday we love this, believe it? the reason we did this segment. >> someone said this was me and i fit the bill.
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it i am a psychopath. melissa: i think we will leave it there. release of the whole thing in got to the bottom of it. everyone wants to be on the receiving end of your holiday cheer. the guy that kylix your trash once a tip. there are all expecting holiday tip of some time. how much to you give? charlie gasparino as the answer. [laughter] melissa: in this is the quicksilver cash back card from capital one. it's not the "fumbling around with rotating categories" card. it's not the etting blindsided by limits" card. it's the no-game-playing, no-earning-limit-having,
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little fun with "spare change." just when you think the ball all of the holiday gifts they unique and had just about broken the bank. you have that sinking feeling. how much? here to tell -- helpless, international etiquette pastor. this is a question that everyone has. i already received e-mails. what are we supposed to do? let's sort it all out. >> hello, melissa. hello. melissa: what is the rule of thumb? help you figure out who you have to tip? >> you first have to make a list otherwise we will all go in debt add think we have to sort it happen prioritized and tiptoes to make our lives a lot easier throughout the year. melissa: is that the rule of thumb?
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anyone who provides a service versus something else. >> well, you have to think about who you see often. for example, analysts said my manicurist, hair dresser. if you have a doorman or a pool person committees of the kinds of people uc regularly, housekeeper. you have to tip them if you want a better service in the coming year. melissa: or pay the price later. i am looking analyst the put together from a bunch of different sources. how did we come up with that number? >> i believe the you to put you can because there are not any real interest is -- industry standards. usually the tip an extra $25. for a hair dresser it must be the cost of when her cat. for a personal trainer it will
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be the cost of one personal trading session. so it can get confusing him. melissa: absolutely. the same thing. if you go to the bar brand is $15 fee to get a haircut, you would want to do that. how about hair dresser? >> you usually gives the house keeper of one week's salary. my housekeeper comes every three weeks. i give her a onetime payment. melissa: here in new york, this is a big one. the super and the doorman. this is someone who is important because they are guarding the front door to your apartment. these see them every day. depending on how big your building is, there can be a lot of them. >> well, that is right. there could be multiple dorm in. let's say you're short on cash one year and you like to bake or you are kind of crafty, don't
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think they you always have to give money. money is always -- cash is king, as they say, but don't think the you cannot give other forms of tipping. cash cards or movie theater tickets. melissa: but there are a long way from getting crafty. i feel like if i make a homemade ornaments in hand it to my door and is set giving him cold hard cash she will be like you can carry your own packages of. >> well, that is knowing his personality. i agree with you there. but let's say your child to school teacher. oftentimes you are not allowed to give monetary gifts to certain people. you really should not give money to your postman. i would suggest giving a gift like homemade pies or homemade cookies are something that still says i think you for your service all of these months, but
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happy new year, merry christmas, happy hanukkah. melissa: you mentioned the mailman. newspaper carriers, your garbageman, the people that provide services like that it may be paid by the state or the community. >> not necessarily. for the postman they cannot accept gifts more than $20. in that case you might want to give him something homemade or maybe a gift basket. for your trash carrier, i don't know. i think that is up to you. they come so early in the morning. ibm usually not awake. melissa: it all comes out to a lot of money. even the people we mentioned. it is a fortune, but it is once per year. up next, who made "money" today. can you get richer by selling an
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melissa: whether it is on wall street or main street, here is to make money today and lost money. anyone who is lululemon. the stock dropped nearly 12% today. not so great for the founder, chip wilson. he k people off with his comments on big thighs. his loss today was over $82 million. and making money today, a guy selling a pair of michael jordan
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sneakers. a former ballboy starting the auction of $5000. michael chart and transjordan woody's back in 1997 at the nba finals where he scored 38 points for the chicago bulls. they look used, right? and $120,000 worth of hershey's chocolate has been stolen in florida. the driver parked the vehicle to get rest overnight. in the morning he it was nowhere to be found. police are still searching. okay, that is always happy. i hope that you made money today. watch tomorrow for our last day of robot week.
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plus, if you like watching us at midnight, be sure to dvr us at 5:00 p.m. we will see you back your tomorrow. "the willis report" is coming. ♪ double mocha ♪ double mocha ♪ double mocha ♪ ♪ >> hello, everyone, tonight in "the willis report." if you like your health care plan i am dennis kneale in for gerri willis. politicians just never know when to butt out. pot is set to go legal into states next month and the government is meddling more than one it was forg
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