we saw some other names that have been safe haven as well like utilities. [closing bell ringing] david: right. by the way, homebuilders got knocked on the chin today as well. whole bunch of sectors with the exception of utilities. it is not a good day. looks like the market settling down about 231. liz: 231. low of the session was 246. we'll take shining rays of light where we find them. tough days for the bulls on the market session. dow jones industrials getting clipped by 231 points. it is the nasdaq that really got it hit. it started to come back. at one point the nasdaq was down 80 points. s&p down about a percent. david: "after the bell" starts right now. david: well stocks, falling to even though the release of some u.s. economic data was kind of

upbeat. so what is going on? let's break down the action. we have tom frost cofounder who says, now is not the time for investors to get conservative. david kudla, chief investment strategist telling you which high growth sectors you should be focusing on. michael gerka of chicago-based spectrum asset management down on the pits of cme. michael, started with bad news from china. china economic news trumped u.s. economic news. does this feel like a one-day selloff or is there something more coming here? >> well, there are two-ways of looking at this right now. how do you feel with your heart and with your head. with your heart it gives me a feeling there is a little bit more behind this. because it really crept into the market early and continued to plow through to the downside. the reason i referenced the head is, that these have been strict opportunities over the last six to 12 to 18 months. every time we see bankrupt selloffs they have been pure

opportunity and follow through. but again i watch some other indicators. the fact that crude oil is somewhat unchanged along with gold today. i watched the collar closely and british it pound and euro got smoked that is one of the reasons i think interest will be some legs to this selloff. for those reasons, keep and eye on 1836 for support. if that gets violated. we're talking probably another 10 or 15 points lower. david: it is 1846 right now, liz. liz: let me clarify about the euro. that was at 1 heroin 40-dollar today, correct? >> yes. -- $1.40. it was off to the races and huge head fake in the euro. liz: so much for paris and spring break. tom, you believe there's a correction but now is not the time to get conservative with investments. help us square with that thinking. >> well volatility is the name of the game when you're in equities. historically we've had volatility.

go back to 1980, we have 33 years of history to look at. entry-year low on s&p 500 has historically been is somewhere neighborhood of 14 1/2%. despite that fact, 26 out of the last 33 years the market ended up. we should note that we have not seen a 14% correction, frankly it has been three years since we've seen it. so we're expecting some volatility, that is for certain. david: by the way we have some breaking news on at&t. if you're holding that stock you want to listen up very carefully. the fcc approved of at&t's 1.2dollars acquisition of leap wireless. there are conditions to the deal. the devil is empty details. good news for at&t on that fcc approval. by the way at&t agreed as part of that to divest spectrum upgrade, leap wireless network within a year. that is one of the details. at&t will expand 4 g service in south texas. that is goes along with part of

the deal. that stock particularly affected after hours because of this news, liz. liz: that is interesting. they didn't approve at&t buying t-mobile. let's get to david. david, your theory about the markets. let's talk about. what is the best way for the today on to the rest of the year to really capitalize on what moves you think the markets will make? >> i think what we've seen today, what we saw mid-january through tech 3rd, the 6% correction in the overall market that is indicative what the year will be like. last year the market continued to move up with no more than a 4% pullback along the way. this year will be sawtooth pattern, two steps forward and one step back. in that modest return for 2014 with a lot of volatility, you need to look at where you can diversify your portfolio. we think there is some opportunities abroad. like in europe, we think there is opportunity utilizing long short strategies, like with a high land long-short health

care, a fund that is in an interesting sector because the long-term growth because of demographics, near-term growth opportunities because of obamacare there are clear winners and losers a long-short strategy can take advantage of that ways we can mitigate risk but achieve alpha or excess return in what will be a modest year for stocks with a lot of volatility. david: mike, you talked earlier about gold, pretty much unchanged today as was oil but let's talk a little bit about copper. it has been beaten down. whenever you see something beaten down you wonderthere is opportunity there. do you think maybe now is a time after all these months of getting beaten down it is time to go in an buy a little copper. >> been very bullish copper over last two weeks for those reasons. when you have news out of the china again it showed you don't need to be two aggressive right out of the gates on the copper trade it will mull around the bottom of range with a potential

dip even further. near term i think copper is way undervalued at these levels and overvalued versus precious metals looking back. for those reasons i look for a nice rebound in that sector globally from the entire geographic alongwith the springtiming pattern. meaning next three months you think you will see better place for copper even at these levels. david: even if china continues to come out with kind of poor numbers? >> china is trying to get out all the bad news as quick as they can regardless whether monthly economic data or not. they're trying to cut to the chase. granted there is so much speculation over last year or so what is the truth in those numbers. that being said they're not hesitant at least try to disseminate some problems when it comes to growth and demand. again i think copper has such a huge global presence right now that is one of the reasons why it will not be elongated selloff. for that reason i think fundamentally there is a lot of life in the copper product to buy. liz: let's go stock pickings,

from commodities to stocks. tom, you have three names you like. among them you like facebook, jpmorgan, and proctor & gamble. is there a common thread with these names? what do you look for? >> they all have great management. you know facebook, we like that sector when it comes to technology in particular. we like, you know, you look at facebook the way they have been able to remain profitable, gain profitability. make a lot of money in the mobile space we really like that. look at the large cap, these high dividend-paying stocks. you can buy a stock today paying 10 times what you can get on a five-year cd. with all the growth potential of equity markets. look at management of p&g and jpmorgan. we like the large cap space a tremendous amount. david: david, you like to talk about market-neutral securities. frankly i have never seen a security that is neutral with regard to markets but you think there are some. what are they? >> i mentioned one, high land

long-short health care fund. what you want to be careful about when you have market neutral strategy the idea you're mitigating or zeroing out market risk. what you don't want to is zero out market returns you need to find the portfolio managers that can really add alalpha and give excess return. highland long/short health care. there is pimco long/short fund that has done well. we think there are other places to diversify portfolios. david: regional banks for example? >> regional banks. you can play that through kre, an etf that owns regional banks. we think that with the wealth management sectors of the banks are going to be doing this year following through on last year, net interest march bin with rising interest rates, we know that bond rallied in the first couple of months of the year but long term we believe we're in a secular bear market for bond. rates are going higher which

increases net interest margin or profit margin for banks on their loans and that bodes well for regional banks. liz: secular bear market for bond on a day, michael gerka, people piled into bond. it was that classic fear risk off trade. in a way with we're hearing david say that's a mistake. >> well i mean it's a rising interest rate market for rip van winkle. right now at least, if you look at three-month securities or t-bills, they barely moved today. >> i know. >> front end. curve didn't see it. you about the 10-year started to back you down to 2.66, 67 again and for those reasons you know what? the commodity space is really showing us if inflation ever does show up to a great degree i think it is out there. it is not being seen by anyone other than the consumer. i agree with where rates are going. as we get near 2015, it will rear its head. i think the five-year note is really a preconsiders sore on

the curve where you see the movement happen first -- precursor. >> on any given day. david: we have to leave it at that. market settled 1 1/2% down on both the dow and nasdaq. tom and david, thank you very much. mike we'll come back to you when the s&p futures close in just a moment. thanks. liz: thank you. consumers opened their wallets for the first time in more than three months as retail sales rose in february, beating estimates of the are retailers finally starting to see sunnier skies or will it take much longer to thaw out from the winter freeze? we're asking the former chairman and ceo of both office depot and he has a great retail mind. david: a problem causing a blackout over the entire country, a you new study says it might be easier than you think to turn out the lights across the united states. dangerous business. we'll give you details straight ahead. liz: tell us what you think. will this market downturn, one from today, short lived like january's or more to come?

tweet us at ftnatb. tell us why you think you do. -- @fbnatb. ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app.

from td ameritrade.

afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protecon. and because usaa'commitment to serve current and former military members andheir families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. liz: facebook falls into the red after launching video ads on its news feed. david: let's go back to nicole

petallides on floor of the new york stock exchange. what is happening with facebook? >> let's watch facebook here. right at the end of the day you do see the down arrow for facebook, down almost 3% on the day. however, i mean, we did have a down day. a lot of analysts are loving the potential here for facebook. it has gotten upgrade recently. they are rolling out new ads on facebook and these feature ads supposedly will help them to grow. that is what we've been seeing here. so these newnews feed video ads, though they have been delayed are likely to help boost facebook, at least some of the analysts believe so of the they couple that with ads for instagram. also the global partnership that facebook has had and we've seen facebook hovering not too far off its record highs. today it did pull back indeed but this is what we're waiting for. they launched a video app installation product this fall. this is what we're watching with facebook. a lot of action here. david: loving potential. that is what they said about me in high school.

we were waiting for that potential. thank you, nicole. appreciate it. liz: you turned out just fine. david: thank you very much. the s&p futures are closing. let's head back to michael gerka in the pits of cme. any indication what might happen tomorrow, michael? >> you will see the market close here behind me with about a six point bounce off its lows but clearly the momentum is lower. i think we'll see lower activity near that level tonight, through 34 in the futures. with ppi tomorrow and a little bit of sentiment in front of that or after it, i should say i think what you're setting yourself up for more volatility and more selling because that is a very technical way to end the week which is lower, as you could tell i'm pretty bearish on these levels, volatility, you have to get used to that in 2014. thank you, michael gerka at the cme. we appreciate it. liz: we finally got good news or retail seas. it has been a tough couple months. february they increased .3 of a percent. that is beat expectations.

even ex-autos the numbers rose .3 of a percent. are retailers finally putting the curse of wintery weather behind them or can we feel the chill a little longer? someone who knows, steve odland, committee for redevelopment, form other chairman of office depot. thank you for being here. >> great to be here, thank you. liz: let's get right to it. i remember going into a couple of. stores during the worst part of the chill, polar vortex. they were either totally the in, one store closed i had an appointment. they didn't even call me that they weren't open. this had to be slamming them. is this number a sign that the worst is behind us? >> the headline is good news but, but and that is for the first time in three months the sales number was positive but just a little bit positive with plus .3%. the bad news is they actually

revised january downward. so you're still down over a three-month period. so i think what you have here is two stories. one is the overall economic story. the reason this is important is remember, 70% of the our economy is driven by the consumer. so the most immediate measure of economic growth is the retail environment and i think what you see here is some positives on the e-commerce sector, particularly with mobile, handheld sales but you've got big sectors like department stores, home goods stores, all the hard-lines that are down. so you have luxury that is doing well, e-commerce doing well and really everybody else is not doing so well. so you have got the same story. the people who have money are spending it. but most people don't. the other piece of it of course is the weather. now the weather was not good in february and that will hurt. now you have a little bit better in home eatings but restaurants are lost in that month and a lot of sales are lost.

they won't bounce back. liz: is that damage permanent or is that, well, you wouldn't say money is fungible but is lost money, does it move somewhere else? is there any way for these companies that have lost so much to get it back with pent-up demand finally released once the weather gets better? >> that is a good question, in some sectors yes, you can get it back. so in, if there is pent-up demand you can recover it but in most sectors you can not recover it. the good news is some of this e-commerce was driven by traditional bricks and mortar retail. the bad news is, you saw less traffic at the bricks and mortar retail. when you see people being trained to buy more online and less in the store, you're stranding fixed costs and you know there is not as much labor. so the whole jobs market gets hit and people are not adding jobs as a result of it. everybody is holding on and praying for good news at east story which is the -- easter which is the next big event for

apparel. the weather has to help us and overall the economy has to help us. liz: you're a veteran of office depot. staples announced store closing with names like radioshack. radioshack shuttering 1100 stores. staples, about 225. is that a good sign i guess where they're streamlining? or bad sign of things come? i mean radioshack, we always think about radioshack. where are they going? >> no, radioshack is tough because that volume is moving online. the office supply sector is a really a bellwether because their sales tie right to white-collar employment f people are not being added in offices and they're not using up more office supplies, you see it in their sales. i think that whole sector is down and i think it is shrinking. this is not a good sign for our economy. yet another bellwether stock. liz: and yet you have companies where the product is just so interesting people continue to flock to the stores. apple is an easy one there but

there are other stores now. made-well which is a clothing store free of people. i know some of the parent company business has been a little tough but what does a really smart retailer do in tough times? >> well what you have to do is you have to bring people to your store because that is where it happens, right? you have planned purchases and you have unplanned purchases but they have to be so the whole notion of bringing store traffic in is important. in order to do that you have to create a retail environment that is appealing to them. this is where the department stores and the mass merchants are really struggling right now pause it has been all about price. but when you can buy it for cheaper on internet there is no ambience in the stores and there is no price. so how do you compete with that? this is where the luxury goods retailer, i would put apple sort of in that because it has hot product and they're doing well. liz: steve, lovely to have you. thank you so much. >> great to be here. liz: steve odland. david, over to you.

david: the u.s. could be a lot more vulnerable to a nationwide blackout than you might think. what would it take? just how bad could that be? we'll be telling about a disturbing new report. also, short sellers are taking a big gamble that the downturn is continuing. ahead up next, we break down the most heavily shorted stocks in the s&p for you. ♪ 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? uh, mark? go get help! i have my reasons.

look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rate cd. ally bank. your money needs an ally. ♪ [ male announcer ] help brazil reduce its overall reliance on foreign imports with the launch of theountry's largest petrochemical operation. ♪ when emerson takes up the challenge, "it's never been done before" simply becomes consider it solved. emerson. ♪ emerson. iwe don't back down. we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years.

with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com

liz: breaking news on sotheby's. it appears management of

sotheby's is pushing back a mouth think activist investor daniel lobe of third point. charlie gasparino up in the newsroom. you reported this week daniel lobe called sotheby's and screaming at all kind of assistants and yelling them how the company needed to change. has that now bit him? >> i think it obviously didn't help. what we first reported sotheby's was locked in negotiations with lobe. these negotiations weren't very, weren't going very well. as you know lobe is activist shareholder. he is mouthing a proxy price wanting to changement of the -- change management of the board member and screamed at her and bought flowers the next day. that obviously did not help. sotheby's wants no part of lobe. they offered him a board seat. they rescinded that. they said the three people he wants on the board have no relevant experience. up with of people is dan lobe himself. they say he has no relevant

experience. this battle between daniel lobe, famed activist investor and famed auction house is heating up. liz, he should have bought her pink roses instead of red. liz: red, each color has its own schtick. look at the ask for sotheby's. $49. fighting back investors believe might propel this stock. >> you know, who knows why. i think i can tell you this i just never knew of sotheby's, i don't know how you run this, that much better. they do what they do. i think lobe wants to them do more contrary art. liz: stock has been a great performer. why does he think contrary art better than the other type of art? i'm not an art expert. these rich hedge fund guys, that is how they indulge themselves and that and crack cocaine sometimes. in any event -- david: not that we are implying anything about any of the parties here. >> i'm not saying dan lobe does crack cocaine. these guys are one much their fetishes is art.

and, you know, maybe he wants a board seat. they said, they offered him a board seat. they rescinded that now now he can't even have the board seat. i guess the battle continues. i think there is key date in may. i think there is investor meeting. but this thing isn't over. i'm waiting for dan to call me back. we've been trading calls lately. david: year of the activist investor, there is no question on all fronts. >> right. there will be the year of the sec investigation of the activist investor. david: thank you, charlie. good stuff. liz: thank you, charlie. sound like something straight out of a movie, coast to coast power blackouts in the united states but it may not be as farfetched as you might think according to a new government study, kind of frightening new study. rich edson live in washington will at details. appears kind of simple to pull off, doesn't it, rich? >> david when, you listen to this report and reporting about it the federal energy regulatory commission issuing a report, not releasing it. this is something obtained by the "wall street journal" though that all you have to do is knock

out nine key of the 55,000 substations nationwide and you could bring power down, to blackout nationwide, coast to coast for months possibly. this was a simulated computer model that they ran according to the report from "the wall street journal." when you look at what the acting commissioner of ferc, the federal energy regulatory commission is saying in this response to this report, she says in a statement, quote, ferc ordered mandatory standards to protect critical facilities from physical security threats and vulnerabilities. at same time no single action or approach is sufficient. building a resilient grid requires a comprehensive and ongoing assessment how the system is planned, constructed, operated and secured under a range of conditions. now this comes after about a year ago, last year april, a number of assailants attack ad substation using sniper rifles,knocking out 17 different transistors in the san jose, california area, that is something you could model eight

different attacks after that and cause this nationwide blackout. so it is something that certainly on the radar now. the federal government, there have been a number of hearings. ferc says they want recommendation from the industry by june how they will secure all of their energy infrastructures especially and including these transmission stations. back to you. liz: rich edson, thank you so much, i think. >> sorry. david: scary stuff. although they are taking precautions. let's take a look how some of the power companies have done over the past year. it's a very mixed bag. dominion resources up 23% over the past year. it announced it would spend three to $500 million to harden its facilities. con edison down 8% over the past year. it provide electricity to the 3.3 million of us in the new york city area. first energy is down about 24% in the last 52 weeks, serving six million people across six states. and american electric power company is up about 5% the past year, serving more than five million customers in 11 states.

so it is all over the board. liz: flying the friendly skies could take on a whole new meaning when airlines give passengers the power to do what? to text from 37,000 feet but what's next? we talk with the ceo of the publicly-traded company that wants to take in flight communications to a entirely new level. david: the home mortgage industry facing upheaval if a senate proposal to abolish fannie mae and freddie mac, or at least cut them off from the government goes through. we'll ask a mortgage industry veteran what that proposal could mean for mortgage-holders and investors. liz: as we go to a break, look at the home renovation that is will bring a seller the greatest return on investment. ♪

if you've got copd like me...

...hey breathing's hard. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. does breathing with copd weigh you down? don't wait to ask your doctor about spiriva.

liz: short sellers have found. more success this year than back in 2013. according to research firm market, the 50 most heavily shorted s&p stocks have dropped about 2% this year. that compares to a 1% rise for the index. so which names are the most heavily shorted out there? number five, frontier communications. that stock is up 6% this year. number four, garman.

the shorts have not been winning on this bet yet. the stock is up 13% year-to-date. number three, telecom service provider windstream holdings. number two to joy global. this company reported weak earnings and sales this week. down about 5%. number one most heavily shorted stock in the s&p 500, no, it is not tesla. it is cliff natural resources. the stock is down 30% so far in 2014 as a sign of slowdown in china. that has investors worried about the company's future growth. back in the day, tesla sad 60% short floated. david: shorts got two out of five. depending how they weight the bets they came out ahead. these guys always win. housing is always been the canary in the coal mine economically speaking. while housing has generally been ever aring pretty well over the past year there are concerns bit, particularly with major new plans in the works for cutting the government free from mortgage guy ants fannie mae and freddie mac. and also concerns about the fed

pulling back buying mortgaged-back securities. how will all of that affect housing? joining us tim ruth, colling wood group chairman. tim, thanks for coming in. don't we need to cut the springs between the government, between the taxpayers and fannie and freddie? >> well, are there lot ever folks saying we should do something. i don't think we need to do anything radical. not upside in the reform we're talking about. there is huge downside, talking about a market that is 10 trillion-dollars mortgage market but a 45, $50 trillion home equity market. getting it wrong means a lot to the gdp and to the general consumers and taxpayers. david: tim, there is also, there is also a downside for taxpayers getting stuck with a down market again. just to remind everybody, it was in the fall of 2008 when i believe it was the bush administration that initially took fannie and freddie over. of course it was put on an

accelerated path during the obama administration but luckily, the housing market has improved enough so there is money being generated by these mortgage giants and coming back into the treasury but, i don't want to be on the hook for all of those mortgages and i think most taxpayers don't either. >> well, absolutely. i think that is the common, the knee-jerk reaction from everybody from policy makers to politicals, to joe the taxpayers but you got to pick at this just a little bit. bearing in mind, think about this from the new policy perspective that's being proposed. i admit this is one piece of policy legislation i read cover to cover since it is one 1/2 pages long. but that said they're not talking about getting the government out of housing. what they're talking about replacing fannie mae and freddie mac which are now the credit gurantors, the issuers of securities with, drum roll, a new gainer tore with new -- gurantor with new issuer. to get government out of housing they want to create three new

entities a, a regulator, issuer, gurantor, you name it. and instead of it being implicit guaranty we have explicit guaranty. so on the surface doesn't look like we've done anything but get deep near housing. david: let's not get into all of the weeds because there are some weeds here but the new rules would do one thing that sound pretty good to me. private insurers would take losses, if there was another downturn in the market and a lot of these mortgages went sour. three out of five of new mortgages by the way are guaranteed by the taxpayer through fannie and freddie. private insurancers would have to take losses before another taxpayer bailout kicked in. that sounds good to me. >> it makes tons much sense, dave, but you're totally spot on but doesn't need whole new legislation. you don't need to hand grenade the housing finance system and jeopardize tens of trillions of dollars worth of mortgages and collateralize that. we could change existing

legislation, contract terms between fannie mae and freddie mac and their lenders over a working hundred. it doesn't -- david: why don't you do that jim? you've been in washington to mow the key players? >> they don't listen so good. part of the issue, dave, the bses, housing, government backstop, it is such a polarizing issue. it just invigorate both bases. david: it is polarized for good reasons of the fact that fannie and freddie for a long time became very political institutions. they became the place where political flunkies would hang their hat and get a lot of money for not doing much. >> right. davi reason why they were beat up on. let me switch gears if i can to the federal reserve real quick because the mortgage-backed security purchases by the fed about to dry up. tapering is beginning. it will probably continue next week at the fed meeting. if there is no fed to buy, what, 70, 80, 90% of the mortgage-backed securities, who is going to buy them. >> i guess we're growing to find

out. fortunately the fed is pulling back on buying just when mortgage productivity, production is dropping down. we haven't seen who will step up and buy and what price. the scary thing about the housing recovery and the involvement of the federal reserve is the fact we have a housing recovery largely driven because of affordability rates resulting from low interest rates. so everybody i think should sit back and take a good watch of what's going to happen when interest rates go up a full percent because historically, that means property prices drop 10% to make up for that, that lower affordability. david: right. it may be the only way they sell those mortgage back the securities when the fed stops buying them is by raising the interest rates. that may be only way they get buyers in there. >> that is the scary part, a absolutely tim, always good to see you my friend. thanks for coming in. appreciate it. liz? liz: ever use go-go wireless yet on a plan?

david: i haven't yet but i love the company. liz: for those of us who are addicts you need to watch the next segment. in flight entertainment provider is connecting thousands of passengers who fly high in the sky but what is next for the company. the ceo is joining us. wait until you hear what he has planned, david. david: talk about a room with a view? could be tourist hot spot for the future where travelers could go underwater. we'll bring you all the details. you don't want to miss this coming up. ♪ (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me.

i'm with scottrade. (announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates. she loves a lot of it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approvedo treat ed and symptoms obph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, se immediate medical help for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vision, or iyou have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing,

stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial.

iwe don't back down. we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com iprise asked people a simple question: in retirement, will you outlive your money? uhhh. no, that can't happen. that's the thing, you don't know how long it has to last. everyone has retirement questions. so ameriprise created the exclusive.. confident retirement approach. now you and your ameripise advisor can get the real answers you need.

well, knowing gives you confidence. start building your confident retirement today. david: we'll start with the bad news t as was a rough day for the company putting wi-fi in the air. shares of gogo, took a big hit. despite the fact it is up 38% since its debut in june. liz: we have the gogo ceo and president i'm addicted to gogo wireless. i get on planes that don't have it i start hyper haven't lating this is fascinating technology that i think is brilliant but not everybody has it. let's talk about what you have coming up first that is exciting because right now it is basic internet connection, right? >> right. liz: that is wireless but, now

you're saying that we could see texting? >> yeah. that is our next service. we in fact have deployed texting service on our business jets and it has been widely received, over 500 have bought the service already. we'll deploy it on commercial aviation this year and should be at a lower price point. a lot of people would love to text while they're flying. david: talk about the price options because one of the great things about what you've done in setting up this model is provide a lot of different pricing options. if you want per hour, per flight, per year. you have annual plans as well. talk about that. >> so we're actually in the very early stages of this industry. only five years. david: which is very exciting, isn't it? >> always fun being at the beginning and being a pioneer in industry. and so, bandwidth is still relatively expensive to get to planes. some people will pay anything to get it and other people are concerned about the price. so we introduced a time pass. we have all different plans. david: all-day pass is $14.

one hour pass is $5. it goes on from there. >> yeah. we're, going to keep introducing new technology into the marketplace and more and more bandwidth will get to the planes. so over time the passenger will get more and more value of their dollar. liz: will texting be more expensive? will be it includeed? will you hike the price? >> it will be offered as separate service as much lower price point of the we think that will be attractive to leisure travel years the logical progression would be to talk about cell phone calls on airplanes. but polls show that is where people are ready to give up communication because it is so disturbing to everybody around you. 30 people on the plane all talking on the phone. >> correct. we're not going there until someone asks us to go there. on business aviation is it is popular service when it is your own plane. commercial aviation it will be a while. rest of the world it is happening. david: it is politicians have

been moved, demonstrably so and republicans and democrats say they will not let it happen even if you wanted it to. not everybody in the airline industry is working cooperatively with you. how far have you penetrateed? what barriers if any exist that would prevent an airline from saying come on board? >> i think over the next several years all commercial aircraft will be connected. it will be a prerequisite to be in the aviation business. not only for a passenger amenity like we're used to today but to manage the crew, to report problems, to performance of the aircraft. david: not all airlines have it. liz was talking about united. >> took four separate flights recently. none of them had it. two of them were cross-country. i was completely agitated. i said forget it, i will switch from you nighted to delta because i need to get work done here. david: why would united want to do it? >> you're not alone. one in four business travelers

switch and gogo figured out first how to get it on planes and make it really work. it's a complicated problem. liz: what do they think they will do? start their own technology? >> they have, we're on a few of their planes but they have chosen two other providers. it was not the fastest way to market that is for sure. david: cross-ocean flights, they must provide a particularly difficult technological challenge for you, no? >> well it is improving. that will take satellite technology. in the u.s. we use air to ground technology like cell towers. for rest of the world it will be pretty much through satellite. that technology is happening right now. david: it is, you could do it right now if the airlines were onboard? >> we are doing it right now. we installed our first plane with delta in december of last year. we just announced -- liz: from where? new york to -- >> usually flies to norita from atlanta or detroit. soon we will do, by indof next year we'll have all of delta's

international fleet done. liz: that will do wonders for delta's business, i guaranty you. david: michael, congratulations. must be very exciting times for you guys, gogo. too bad about today. but there is tomorrow and can't base a market plan on one day's stock. >> we're building a with a plan. one day doesn't make it. liz: we continue with the aviation discussion on totally different tone. nearly a week after a malaysian airlines jet disappeared from the radar screen, searchers still have no idea what happened to the aircraft. all sorts of theories circulating on the web and phone conversations. we'll tell you about the latest and what we really know about the missing jet. david: switching gears, gears of war ii is one of most popular games of all time on mikes soft xbox gaming consoles. coming up we'll talk about a gamer stallion 83. who made xbox history. if you ever played this game, stick around for this. that's r.

it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. gundyes!n group is a go. not just a start up. an upstart. gotta get going. gotta be good. good? good. growth is the goal. how do we do that? i talked to ups. they'll help us out. new technology. smart advice.

we focus on the business and they take care of the logistics. ups? good going. we get good. that's great. great. great. great. great. great. great. great. great. (all) great! i love logistics. [ chainsaw whirring ] humans -- sometimes life trips us up. sometimes we trip ourselves up. and although the mistakes may seem to just keep coming at you, so do the solutions. like multi-policy discounts from liberty mutual insurance.

save up to 10% just for combining your auto and home insurance. call liberty mutual insurance at... [ thump ] to speak with an insurance expert and ask about all the personalized savings available for when you get married, move into a new house, or add a car to your policy. personalized coverage and savings. all the things humans need to make our world a little less imperfect. call... and ask about all the ways you could save. liberty mutual insurance. responsibility. what's your policy?

liz: mystery surrounding a missing malaysian airlines flight deepens following a report from "the wall street journal" that the plane may have flown for four hours after the time of its last confirmed location? david: a lost mixed messages on this story.

ashley webster in the newsroom has been trying to pick them apart, follow the true leads as a i part from the phony ones. go ahead, ashley. >> trying to decide which is which. how can a boeing 777 with 239 people on board vanish off the radar screen and leave no clues? it has been six days now of confusion, speculation and growing anger. "the wall street journal" did in fact add to the mystery by reporting that data was being transmitted from sensors inside the plane's rolls-royce engines for more than four hours after the plane vanished a total of five hours that data was reportedly being receive. late this afternoon the journal issued a correction saying nope, the signals were actually transmitted by boeing's satellite communication link. but the faint signals reportedly gave no information about where the stray jet was heading and little else about its fate. it does so indicate that the plane's maintenance troubleshooting systems were switched on and ready to communicate with satellites, showing that the aircraft was at least capable of communicating

but that's it. all of this just adding to the confusion as a multinational search effort goes on, using dozens and dozens of planes and ships, trying to cover an area greater than 35,000 square miles. that is about the size of portugal. earlier planes searched an area off the southern tip of vietnam after chinese satellite images showed three floating objects. china later sayings, sorry, those images were released on the website by mistake. today's malaysian authorities expanding the search westward toward india, it could be possible that the plane flew several hours after its last contact and we'll widen the search hour. u.s. security forces still vesting no evidence that demonstrates the plane's disappearance is related to foul play, however, authorities say they can not still rule out the possibility of terrorism. guys, back to you. >> thank you. thank you, ashley, very much. david: thanks, ashley. we asked you on twitter or facebook if you thought the market downturn today will be short-lived, or if there is more to come? mike on facebook told us that

janet yellen will kiss the boo-boo next week. that is when the fed meets and equitying will rebound. liz: let's go "off the desk." it may have taken him eight years but a tennessee man just became the first person to break the one million xbox game score. for those of you who are not familiar xbox game score. that is cumulative score of all achievements you earned across xbox games, with each xbox game worth 1000 points, are you with me here? put in perspective, fewer than 200 gamers passed the 500,000 game score mark. ray cox, passed million gamer score mark which he streamed live via switch.tv. bless your heart. david: green envy about that? >>d: okay. mpd designs has come up with a floating solution of the threat of rising sea levels for the tourist industry in the

maldives, a floating resort island. the concept structures are powered by solar energy and full of luck sure russ amenities like pools, rooms, and underwater views. liz: stay tuned. "the willis report" is next. (vo) you are a business pro.

seeker of the sublime. you can separate runway diculousness... from fashionhat flies off the shelves. and you...rent from national. because only national lets you choose any car in the aisle... and go. and only national isanked highest in car rental customer satisfaction by j.d. power. (natalie) ooooh, i like your style. (vo) so do we, business pro. so do we. go national. go like pro.

gerri: hello, everybody, i'm gerri willis. right now on "the willis report" , new details about the scandal consuming gm and target. two iconic companies at the center of consumer outrage. both knew of problems hurting americans but did nothing about it. also, it is ultimate obamacare escape clause. if you want an exemption from the individual mandate you got it. and our special report a users guide to taxes, what the irs won't tell you. we're watch out for you tonight on "the willis report." gerri: two big consumer stories tonight