congressman lee terry is here to start it off because even when they say it's not it is always about money. melissa: it is the big story today, those hit hardest by hack attacks testifying in a senate hearing over the massive cyber breach that is have been dominating the headlines. >> this attack has only strengthened our resolve. we will learn from this incident and as a result, we hope to make target and our industry more secure for consumers in the future. melissa: so what exactly do major retailers intend to do about this growing problem? joining me from capitol hill is republican congressman lou terry, who is chairing the house hearing on this issue tomorrow. you snow, thank you so much for joining us. i want to play one more exchange with the target ceo and get your reaction on the other side. i heard this today and it was really shocking to me.

let me play it for you. >> had you had any knowledge at that mall it was there before the department of justice giving you that notification? >> we did not, senator, or mr. chairman. despite significant investment in multiple layers of detection that we had within our systems we did not. melissa: congressman that is really startling to me. is it surprising to you they had no idea until they got a phone call from the justice department that all this had happened? >> unfortunately that is more common than you think. it is usually payment card companies or secret service or fbi that are doing an investigation that stumble on this now there is a system set in place and they're supposed to do audits and so one of the questions we're going to ask of target tomorrow is, were they doing thooe audits pursuant to this standards for security? answer is no? >> well, i hope the answer is yes but they didn't, you know, see if they just didn't find it.

that is one of the questions the senate committee didn't ask yet. melissa: although that would be even more frightening because that means the audits are not working. >> true. melissa: one of the answers people are talking about to implement a $100 million chips enabled program and cost would be borne by the chip-makers or card issuers. is that the answer. >> it is a answer. it is not the answer. it is another lair of security and that's it. it is not infallible. in fact it makes it more secure for in-store purchases, you still have the same vulnerabilities online. so it may just shift more of the data insecurity to online operations. melissa: you say it is just one of the solutions. what else do you want to see? >> well i think we need to really focus in, and this is what i want to do as a deep dive tomorrow and look at those

security measures that they take. there is, we understand there's no perfect security system especially when you have got criminals around the world that spend their whole day trying to figure out or months trying to figure out how to get into your system. but i think we can add layers of complexity to them and i think we need to vet through that and really force them to up their game. melissa: there was another exchange with dianne feinstein. i want to play that one for you. it brings up a question a lot of our viewers have had. let's play that. >> i'm a shopper at your institution, mr. kingston. i don't recall getting any notice that my data may have been breached. when would i have had noticed and i shopped during the period of time. >> it wasn't until january 6th, actually that we learned that this very sophisticated malware that was put in our systems had thh ability to scrape card data in our systems.

then we quickly put in actions to contain and eradicate malware, and began notifying customers. melissa: that was the cfo neiman marcus. dianne feinstein revealing herself to be a big spender among other things. this is the question a lot of folks have had. they said, i haven't gotten any notice. -@should everyone who has been involved should have heard by now? >> there are 47 states that have breach notification laws and each are a little bit different. there is no federal law on breach notification yet. so it depends which state you live in. also every state, there is one common denominator. they only require notice if there is accually proof that your individual personal information or financial information has been breached. hacks occur thousands of times a day but they only require breach notification when they know that your information was

compromised. that is what triggers it. then they usually have a few days that they can get their act together and send that notification out. so she should have seen a notification, unless california's not one of those states but we know california is a breach notification state. so maybe her information wasn't breached. therefore they don't have the obligation to notify her. melissa: okay. it feels very much like this problem south of control. we're glad you're pursuing it. look forward to the hearing tomorrow. thanks for coming on. >> thank you. melissa: so from that to new details emerging about the nsa's controversial surveillance program. tech giants turning over data from tens of thousands of accounts. what does this mean for you and your personal information? we have a privacy expert. this was the other staggering technology story of the day. approximately 40,000 yahoo! and google accounts the nsa requested access to them. do we have any idea what they did once they requested that

access? were they allowed to go in and run amok? >> you know, that's the thing we don't know. they said, the companies themselves, google, facebook, have said it is a small step forward seeing transparently what they're taking. we have no idea if they're looking at our email records. ifh'reoingnside ofur goleocs. no ia of the content that is available here. it was a very, very small step forward. more like a tentative shuffle. melissa: it wasn't even a long period of time. they were saying it was from january to june of 2003. 40,000 user accounts. i mean is it 40,000 people they spece lror? know, thing that don't quite understand. frankly there is a lot we don't know because it is not transparent, right? melissa: right. >> what we don't know, they have this massive body of data out there. it is the haystack. they're trying to find a few needles. is that 40,000 needles that they're looking at or is it a

broader swatch of citizens? melissa: so what can you do if you're an individual? i mean we had someone on recently from a company called duck duck go. this was sort of anonymous google. but that doesn't solve the e-mail problem. is there any way way to do email where you're not working with a company who could be forced to turn over the keys by the nsa? >> yeah. so i like the fact that duck doug go did, duck duck gives you anonymous search, they're not tracking information and holding on to it. email, silent circle used to do it. strangely enough after all this coming out, silent circle shut doesn't email operations because they knew it was going to be subpoenaed. even though the technology is there to encrypt it and keep it private, if the government can get in the back door it doesn't do anybody any good so they shut it down. melissa: seems like there must be something reasonable. if terrorists are talking over the internet through email of

course the want the government to discover it. on the other hand it is unreasonable issue of search and seizure to go in with my own right to privacy. they can go in and look at anything s there some solution in the middle? >> melissa, there is solutions for search and seizure across all different types. if you extended that to data and they had some oversight, you had to to to a judge -- to go to a judge before you could query the data. we're looking at this person's data. here's why. we have proof of suspicion. then yes. but that oversight is run totally amok like you have said. they can go into anybody's records at anytime. melissa: john, let me ask you back to the segment that came before you because you are an expert on this, what do you think about this idea of having hearings trying to figure out what went wrong and how to prevent what happened at neiman marcus and target? that seems to be a problem completely out of control. does the iiea of credit cards with chips rather than magnetic strips, how much of the problem does that solve?

>> number one, the fact they're having hearings is imperative. and by the way they need to find a way to share that with other retailers through the national retail federation, through another association so they can pass on learnings of how this happened. number two, chip and pin is not perfect as representative terry pointed out. seatbelts are not perfect yet we still drive in cars. we also have airbags. you put on layers of security. taking away the magnetic strip that is so easy to clone and putting a chip in a card very difficult to clone, it doesn't stop fraud that happens on the internet. just in europe alone when u.k. implemented it, fraud came down 70% in five years. at the same time in the u.s. it went up by double. obviously it had a huge impact, the fraudsters move on to easier targets, preferably not american citizens. melissa: john, thanks for coming on. always insightful. >> thank you. melissa: ahead a bold bet for one store owner. he wagered a full refund to, to customers if seattle won the

super bowl. now he is paying out a whopping $7 million. and he says he would do it again! in a heart beat. wow! up next, investors are fleeing emerging markets faster than a bat out of hell. in fact it is the biggest e-m security selloff in years and causing plenty of jitters here at home. stick around because it is your money on the line. you have got to hear the domino effect of this one. out of the frying pan into the fire. rock singer meat loaf is joining us here on money. boy it would be a mistake to miss this one. more "money" coming right up. so ally bank has a raise your rate cd that wothat's correct.a rate. cause i'm really nervous about getting trapped. why's that?

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does your mouth often feel dry? a dry 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 rel and it helps keep your mouth healthy, too. remember, while your medication is doing you good, a dry mouth isn't. biotene -- for people who suffer from dry mouth. melissa: 2014, the year of the, health care cancellations? that is how it is looking so far. the number of cancellation this is year is expected to hits tens of millions before midterm elections. one analyst is saying there will be so much backlash the obama administration could extend

grandfathered status another year. we've got fox news's jim angle to give us details on the potential disaster in the making. jim? >> hello, melissa. well president obama only delayed the inevitable by postponing the employer mandate for a year and urging that individual policies canceled in 2013 be allowed to extend the year. but reprieve ends in 2014 for both the president and many policyholders. listen. >> going to be millions of people and it is probably going to be tens of millions of people. one thing we're sure, more cancellation this is fall than there were last fall. we'll see millions of cans he islations in late 2014. people will probably be getting cancellation letters about the time they will be going to the polls in november of 2014. >> now pushing for individual policies be extended by an effort by mr. obama to salvage his credibility after falsely promising that everyone could keep their plan and doctor, no matter what. now 6.2 million of 17 million

plans on the individual market were forced into obamacare but many of the other 11 million are likely to lose their new plans later this year. >> i don't think there is any doubt that in the individual health insurance market it will ultimately see at least 80% of all existing individual health insurance policies canceled. >> and, 10 of millions of more will lose or have to change employer coverage just as officials predicted back in 2010 as when they projected requirements of obamacare would force millions of cancellations. one analyst extended the 2013 mid-range predictions to 2014, showing 76% of small employer plans would be forced into a obamacare alongwith 55% of large employer plans. >> that is going to be a big story because there are a lot more people's employer sponsored insurance than individually-purchased insurance. >> now analysts don't doubt millions of plans will be

canceled. the question is whether obamacare plans are more so much more expensive that it will keep employers from holding on to them and having workers pay more or whether they will just cancel those plans and send workers to the exchanges. melissa? melissa: so the president face ad lot of heat last year over only a few million cancellations. how many do you think we're looking at in 2014? how big could that number be? >> analysts vary quite a bit, but some say 50 to 70 million or more. melissa: wow. >> if you think there was an uproar over 4 million or so early last fall, mid fall, wait until this one hits. that is why some say that when the political backlash starts from this one, the president may opt for yet another political delay as you were saying, another delay as you were saying at the top. right best elections the political heat might be just too much. melissa: that is staggering. jim, thanks so much for that report. >> you bet. melissa: huge selloff in the emerging markets after the fed

announced that it is going to be begin tapering. we've been seeing more negative reaction with the dow industrials dropping more than 300 points yesterday. today we had a slower day. what do investors and analysts expect going forward? joining me now, economist peter morici, united advisors chief market strategist, scott martin. he is also a fox business contributor. thanks to both of you for joining us. peter, let me start with you. the idea is this is the beginning of the chain reaction. we see the fed tightening a lot of money they had been pumping into the system before was flowing into emerging markets and things like currencies chasing yields. now that money is drying up. and as a result those suffer, companies that sell stuff around the world suffer as a result. one of the reasons we're seeing stock market go down. is this beginning of a chain reaction do you think. >> oh, i don't think we have a chain reaction but we have an adjustment going on. the money is not drying up. the fed is not pumping additional money each month into

the market as it was before. it is not taking any out and still putting some in. but they expect interest rates in the united states to be higher. so the money is coming here. moreover they expect u.s. stock prices to probably be a bit more secure than in developing countries because, essentially their economies were based on a lot of borrowing. much as ours was best crisis it doesn't mean we'll have a crisis but it means markets are going through an adjustment. melissa: scott, do you agree with that? seems like if we ecouple what we're seeing in emerging markets and what we're seeing in china terms of a slow down this is a worrisome picture, no? >> i like the word adjustment, melissa. melissa: nicer and softer. >> that is euphemism for a lot of things, right. i use that at home a lot. i think i'll tell you that the emerging markets are in some trouble. i'll tell what you is going on that i think is really freaking people out is the central banks. these central banks are kind of like the foreign versions of our

fed. they're not really prepared for i think what is hitting them right now. you're seeing massive reactions in turkey, india, even in china these emerging markets that are very, very rash but i guess necessary to some degree measures that are being taken to defend the currency. i think to peter's point, he's right, these are debtor nations. as a debtor nation you better make sure that people want to buy that debt because if they don't, you have no way to fund it. unlike the u.s., we're at least self-funding. i hate to admit it but i probably owe peter 100 bucks and you owe me 100 bucks and we buy our own debt and overseas that is not the case. melissa: that is an interesting way to look at it? what is wrong with that thinking, because scott makes it sound like adjustment is a kind word and a little too soft? >> there is difference between adjustment and panic. with a panic we'll have a full-scale financial crisis. we know objective how much prices have gone down and currencies have gone down and so

forth. let's not get hung up on semantics. the question is are we rushing into full-scale calamity, what have you? i don't believe so. i believe u.s. stock prices they improved today and i think they will continue to show some strength. they're not going to show the kind of gains that they did last year until we get into the spring and mid-year because the u.s. economy is not going to grow as fast as over the next quarter or two as it did over last two quart earns. second half of the year looks pretty good. melissa: yeah, although, i mean, scott, if emerging markets slow down and they don't grow as fast as they did before, i remember working at a different financial network and that theory of decoupling was so popular, that emerging markets were going to grow and grow and leave us in the dust and america was turning into europe. now the emerging markets seem like they're stalled, how big of a problem is that for us? because we've become very dependent on growth in revenue and all these folks buying our products? >> i think those are the good

old days when decoupling was still possible. you're right, melissa, these days with global growth scenarios where we are, we're certainly dependent. that is where the banking civil is. that is what the regulators and legislators pushed for, basel iii, hello. reliance is huge. just look at the s&p alone, melissa. nearly half of the revenues come from overseas now. a good portion of that is emerging market too. so, yet it is very reliant on how well our friends in emerging markets are doing. but to peter's point, you know what? i don't know if it is great six to 12 months out in the u.s. but hey a lot of people are buying our bonds now. that is driving rates down which separate hadding with financing. it will probably support the housing market here. melissa: gentlemen, always great to get your opinions. thank you for sharing them. >> take care. melissa: up next. we're hearing up next how all the middle is being squeezed. turns out it is worse than we thought. fewer people than ever before consider themselves middle class. tweet me. do you feel your income is going

in the wrong direction? you're slipping? brittany better watch out. vegas is preparing itself for a whole lot of meat this rock icon is joining us for a serious catch-up session. oh, my goodness. do you ever have too much money or too many puns? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years ol i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready fo a longer retirement. ♪ open to innovation. open to ambition. open to boldids. that's y n york has a new plan -- dozens of tax free zones all across the state.

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melissa: is the middle class heading toward a slow economic debt or all in our heads? the awe study reveals 44% of americans consider themselves middle class. that is the lowest percentage ever recorded nine points less than in 2008 when the economy was crippled by recession. so what does it say about our supposed financial recovery? it's a middle class money talker with two of our favorite guys.

charlie, the "the wall street journal" james freeman, and senior editor jack. thank you for joining us. is what i thought was staggering. 40% think they are in lower class. by definition of three class it is can the only be 33%. it used to be 15%. so it's dropped dramatically since 2008 of people who -- in the survey, think they are in the lowest threshold of inme. ei by -- through their homes. and housing prices are still fairly depressed and listen, you know, my dad was a construction worker; right. he bought a small house. we the small house in the suburbs is the crappy sup bush. it was still in the suburbs. appreciated in value through most of his life. a working class guy actually felt middle class.

>> and it's gone up in value. we don't have it right now. melissa: james, do you agree? >> i think there's a perception and reality. there's been a rough economy. kind of a stagnant wages, high unemployment for a few years now. coming down now. a lot of people are leaving the work force. you also have a president who spent the last five plus years basically saying the american dream is broken, there's this 1% above all of us and everybody else is suffering. and the good news is that is not exactly true. you can still rise in america. melissa: i mean, but it's staggering to me 40% of people are lower class. what is the middle 10%? , i mean, like -- it's staggering to me this many people would think i have fallen to the very bottom. >> medium income is down 8% since the recession. a lot of mid wage jobs we lost have been replaced by low-wage jobs. it's hard to sort of pin it on politics precisely. two biggest problems facing the middle income worker in america

who had to outsource overseas job and automatic make taking over jobs. they are expanding middle class in mexico, wage inflation in china. on one hand that's good for the globe as a the whole. >> i think there is a shrinking middle class. i think every -- you look at wages and all of nap but remember the type of policy coming out of washington right now. okay, i'm not going blame the fact there's outsourcing on president obama. if you go out there and you demonize the rich -- not just demonize them. if you put incentive on people not to be rich, if you tax people's wealth and their capital gains there's going to be less careers. there's going to be less jobs here. people will move overseas and create the jobs. it's what we've had in the last five years. melissa: it strike me. charlie is right. it's about the small business owner. we like to celebrate them on the show. whether they are gambling on franchises whatever they're doing to -- the job isn't out there for anymore that give me a pension

and pay my way -- it doesn't exist. i'm not working in the car factory. what can i do? i can open a subway, a restaurant, a hardware store. people aren't doing that. it's making them feel like they're falling behind even more than they are. >> the rate of job creation is far below where it was in the '90s. i think a lot of -- this is the price of a lot of regulation we've had in the last few years. ed to frank, obamacare, what does is puts heavy regulatory costs which big companies are more able to bear than small companies. you get consolidation. melissa: get in here. what do you think? >> one thing i want point occupant you probably have at lot of viewers that rupper income people. they need to be concerned. every time in history we've had the slice of the pie going workers as small as it is now. melissa: there's a revolution. >> they revert to the mean. they don't last forever. the workers are customers for the businesses whose shares we buy. it doesn't bode well. >> what could years do do?

they are being attacked. we sit here and the editorial page of the "the wall street journal" point it is out every day there's a war on the 19%. who the hell creates the jobs? 1% of the people. and you know what is scary about this economy is the disincentive to create jobs. you cannot tell me that economic policy in washington -- melissa: you want to -- just do it. >> it doesn't have an impact here. >> 1% the share of income right now is the highest since 920s. if there's a war on the 1%. they're, iing. >> they're winning. >> okay. >> all right. >> jamie dimon, why aren't you -- [inaudible] a lot to small business. if you're lending so much to small businesses he couldn't answer why are you sitting on so much cash? there is a disincentive if for banks to lend to entrepreneurs who, by the way, turn around and employ the people that are losing ground.

melissa: why is there a disincentive for banks? >>ed to frank and ambassador l 15 and whatever else. there is a disincentive because of regulation. >> the loan to a small business -- the loan to start-up is never a safe loan. you need is risk-taking -- melissa: right. >> if you're -- if your bank -- what would you rather do buy a treasury bond with the money or lend it to a small business. melissa: yeah. great discussion. thank you. >> thanks. coming up, we know spot a big business in colorado. it is already made a cool $1 million by taxing the stuff. but the state stands to lose twenty time that amount. if banks continue to snub weed purchases. don't miss what colorado state senator david obamaer has to say about this. who made money today? this guy is luxury's newest billionaire. in time to show it all off new york fashion week. piles of money coming up.

is colorado about to get burned by its decision to legalize reck registrational marijuana? the move was supposed to create a financial windfall for the state through tax revenues. since pot sales are still illegal under federal law, banks want nothing to do with all of that green. it is turned the weed trade to an entirely cash-based business that is almost impossible to track. the state government could lose out on $19 million this year alone. here to help us sort through the smoke and mirrors is the republican senator from colorado. david, thank you for joining us. this is a big problem. what are you going to do about it? >> it is a huge problem. there's not a simple solution. we were projected to receive about $19 million a year in revenue from all the pot sales, but all of the pot sales right now, all the marijuana sales are

operating as an all-crash business. when they come to -- when they bring their cash in to deposit it at the bank, it smells like marijuana. so the bank know it's probably coming from a retail marijuana store, and so they say, you know, we cannot accept this deposit. if a bank accepts a deposit, it would be the same thing as money laundering. now, attorney general eric holder said he's going release some guidance that possibly will give -- bring some comfort to the banks, but we don't think that will actually suffice. we think there needs to be a change in federal law. because the banks would be violating the controlled substance act, the bank secrecy act, the antimoney laundering act, these are all federal laws. the banks have to operate within federal law or they could risk their charter and they can risk being in trouble with the fed or the fdic. melissa: this is quite a pickle. we've had some folks on that have a dispensary and were run

together problem. they had all kinds of accounts closed because the banks were afraid to go business with them. instead they're operating in all-cash. it creates a lot of danger. anyone watching the dispensary knows that the owner of it is wandering around with tons of cash trying to pay their bills. is there a fix that is going come in time? you say what eric holder isn't doing enough. there needs to be legislation. how long does it take? >> that can take a long time for congress to pass a law to allow deposits from marijuana businesses. as you know, there's only two states that are largely operating retail marijuana businesses. colorado and washington state, and both states are confronting the same problem. we actually think that right now all of these marijuana businesses are buying large safe. they are providing their own security, they have armed security guards at their

stores. they're depositing the money in to large safes. that does not lend itself well to the accounting practices we need in order to collect -- melissa: no. >> collect state tax. not to mention it would be irritated if i can't use a bank account and i'm going through all the trouble, i have to tell you the last thing i'm worrying about is how much tax i owe the government. that's going very low on my list. you are going to miss out on a lot of revenue if you don't do something quick. i mean, are you imagining any other type of solution? is there a short term intervention while legislation is being written? i don't know. is there another way to monitor the income? >> actually, the retail marijuana store operators are actually trying to be honest and it is sort of -- there is a tracking system, but there's a lot of ways they can work around because there are no bank records for the regulators to check the income against. but we think --

there's also been suggested why don't you have state-chartered banks. but the banks all work on interconnectivity. they all have credit card transactions and so you can't have a state-chartered bank that operates outside of the federal banking system. so every state charter bank is also a federally chartered bank, and so we don't really think there's a state fix that can fix it. we're hoping congress will address this. so we'll have a better ability to collect from the tax ref new. melissa: you're depending on congress. well, please come back and let us know how it's working out. >> thank you very much. coming up. she better aside. brittany better watch her back. there's a new headliner steam rolling through las vegas. and he means business! it is all coming back to us here on money. meat loaf is next. at the end of the day, t all about money.

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♪ ♪ ♪ melissa: of course you know who that is. meatloaf one of the best-selling artist of all time. this month he returns to las vegas with his rock tails and cockkails live show. a portion of the ticket sales are going to help music program in las vegas school.

joining me now is grammy award winning actor and artist meatloaf. welcome to the show. >> thank you very much. it's my pleasure to be here. melissa: i've got to ask you -- >> i'm on fox business. melissa: yes you are, damn it! the -- for whatever reason. i feel like you have an opinion about the marijuana segment. what did you think about that? good idea, bad idea? legalizing marijuana? >> you know, i don't know. i don't have an opinion. i don't smoke it. i never have. not even inhale. melissa: really? okay. >> but, yeah. no i tried it but didn't inhale was bill clinton? i like bill. he's funny. so anyway my question is always been, okay, it's illegal everywhere else except colorado and washington. how do they get it there? melissa: i imagine -- melissa: i guess they grow it

there. yeah. but, you know, i mean, that's obviously a big challenge. but let me ask you about your las vegas tour. this is what is everyone tour. -- doing. is it easy money. is it fabulous you settle in for awhile and do the shows. why is everyone doing this? >> well, i'll tell you. especially when you get to be a little older like i am. it's easier than touring. you stay in one place, you know, it's four minutes from the little apartment i'm in over to the theater, and then back. so that's much easier than getting on an airplane or traveling on a bus for six hours. yes, they make a lot of money out there, but when they came to me with a show, i put up -- it's pretty expensive for the theater. we're in a small theater. i try keep ticket prices down as much as i could. i'm still kind of paying it back, but i said this was the

show i was born to do. and i have so much fun doing it that -- i've never done anything for the money. i know, i'm on fox business. melissa: the show is called "money ." you are big on money. you don't have to be ashamed if you're doing it for the money. i hear you. you are campaigning against brittany. have you seen her wandering around? are you nervous? >> oh, no. i'm glad she's there. because when we were there in the fall, there was nobody else there, and now i have brittney, and me, and the jacksons. there's a foot traffic, a lot more promotion around the city for planet hollywood, that helps my show. that helps my ticket sales. melissa: our viewers were excited that you were coming on and tweeted a lot of questions. i want to get to a few of them. one asked, so ask meat loaf if christmas cards to the family are addressed to the loaf or the

loaves. >> neither one. [laughter] melissa: neither one. okay. no proper grammar. loaves. i thought that was funny. >> no. no. if you -- my wife mrs. loaf she will knock you down. melissa: she doesn't like it? >> no. >> one more quick -- >> okay. melissa: why won't he do that and what was that, anyway? i won't do that -- what was that? >> no kidding. it's the line before every corp. russ. -- chorus. i'll never do it better -- i'll never feel better. i can't remember them. there's about nine of them. it's just -- let me think about for a bit. the show in las vegas. i'll go quick. i have so much fun, and it's the show that i was born to do. melissa: we can't wait! thank you very much for coming on. good luck to you. i know, it's going a huge hit. >> good luck to getting the pot to colorado and washington. melissa: up next the

seven-figure super bowl bet that didn't go as planned. mattress mack is getting money back to the customers. he claims there's no regret. i'm going to ask him. don't move. you can never have too much money or too much meat loaf.

this is so money we've been watching it all day. we had to share it with you in case you missed it. a driver in moscow does a crazy job swerving through four lanes and stick the landing perfectly in a parking spot. now, that one way to go to step on the gas and show off. this is incredible. crazy. how do you do that? it's got to be a stunt driver. time for fun with "spare

change." we are talking about a bet. gallery furniture offered customers a full refund on purchases greater than $6 ,000 if seattle won the super bowl. now the store is getting ready to return roughly $7 million to its customers. joining me now is gallery furniture owner jim. thank you for coming on the show. mattress mack i know they call you. why did you do this? >> thank you for having me here. i'm glad to be here. melissa: why did you do this? why seattle. you're in texas. >> we had a promotion for the big game. i flipped a game and which side the coin ended up seattle. if the customers came in and bought $6 ,000 of furniture and had delivered before the big game at 5:30 on february 2nd. if the team from seattle got 100% of the purchase price back free. that's what happened. we are refunding $7 million worth of furniture to our customers. melissa: that's a lot of money. i'm trying to do the math on this. of course, the show is about money. number one, you didn't have insurance. a lot of the times when people

do the promotions, they buy an insurance policy so they don't have to pay out. you didn't do that; right? >> no insurance. melissa: do you wish you had. >> it was all on us. it was all on you. you have, i mean, you if lose almost $7 million. i understand your margin is about 10%. how much more did you do a lot more business than you normally would and, you know, people didn't spend $6 ,000. i'm trying to figure out if there's any way you made money on this. >> that was kind of the idea we get a lot of customers out and over half of them spend the $6 ,000. amazingly over the promotion about 85 to 95% spend $6 ,000 or more. we lost money on this promotion. but we're making it up in pr and good will of our customers. we have a philosophy at gallery furniture if it is good for the customers it's good for the store. this was a great promotion for families that got free furniture.

melissa: you are getting a lot of pr off of it. i know, yoo've been on a lot of shows. you could have bought a 30-second ad during the super bowl for $4 million it would have been seen by 111 million people. do you wish you would have spent $4 million on that? >> i could have bought two ads and been $8 million. i think the story will be part of the legend and retold in houston thousand of times. i know, that many people i know they talked about it about the water cooler at the different businesses in houston. melissa: wow. >> i was at the fox station and one of the employees won. everybody is talking about. we have a lot of positive pr. melissa: okay. >> and gallery furniture is about promises made, promises kept. we are refunding that money and building a lot of trust. melissa: good for you. my hat off to you. thank you for coming on. >> thank you. up next who made money today? the cat out of the bag on this one. there's a new fashion billionaire on the block. consumers can't get enough of his very pricey clothing line.

you can never have too much "money with melissa francis" or too much furniture.

melissa: whethers if on wall street or main street. here whoa is made money today. michael corp.s the luxury -- blew away with the 77% rise in third quarter profit. can you imagine? sales also tipped past the $1 billion level. investors loving the news. more than 17% wasn't just sales flirting with a billion market. the pop in the share price pushed mike in billionaire territory. he $58 million today. google executive chairman eric schmidt owns almost 5 million shares of them. he made $23 million. it's after an equity award in restricted stock to the tune of

$100 million. oh. and got a of million cash bonus too. not bad. also making must be. the michigan good will store worker that found $43 ,000. the honest employee was sorting through donations when he stumbled across a wad of cash all in $100 bills. he immediately called police and able to track down the original owner. he might have kept it. just for a second anyway. i would have returned it. i hope you made money today. be sure to set your dvr every day for 5:00 p.m. see you back here tomorrow. "the willis report" is next. hello, everybody. i'm jerry willis. tonight on the willis report. obamacare's software written in -- new charges and new concerns for millions of americans. also, new problems for air travelers. a shortage of pilots coming sooner than expected. and more wild swings in the market since the tax code to

blame for busting your 401(k). we've watching out for you tonight on the willis report. ♪ recalls for cars spiking. maybe your car