an hour. arion 1 expected to reach 90 mile-per-hour speeds. liz: twitter earnings tomorrow "after the bell." expected to post a loss of three cents. gerri willis is next. gerri: hello, everybody i'm gerri willis. right now on "the willis report." has your electricity bill shot up lately? get used to it. electricity prices may be going up for good. also, how do you do that? getting the best seat on a plane. sell in may and to away. it is an old stock market addage, but will it hold true this year? we're watching it for you on "the willis report." hold on to your wallet because those high electricity prices at many of us have seen lately, well they may be with us for a while. one of the main reasons is torrent of new government regulations. those regulations range from the closing of coal-fired plants to

mandates for expensive green energy production. with more on this, jails sweeney, senior fellow at hoover institution. welcome to the show. good to have you here? what is going on here? what do you think is driving electricity prices higher? >> the, combination of several things. but the biggest issue is, that the distribution infrastructure. the transmission, transformers and the wires and all of this distribution infrastructure that was built 40 or 50 years ago, fully deappreciated. we're not paying for it and it will have to be replaced. most of the estimates of large increases of electricity prices we expect will be mostly driven by the need for new infrastructure. the second thing driving it, less important, is the, the move towards better cooling of electric generating plants. we now have a cooling system

that water goes through and you kill a lost fish and a closed system. a closed system is more expensive but it has less damage to the fish stocks. and that's a second, more important -- gerri: got to worry about the minnows. and. >> and the third is the renewables. but the biggest thing, but the biggest thing is the need for the new infrastructure for the generating -- gerri: james, i will let you get your mic fixed here. i will let you get your mic fixed here, right there in the studio. >> it is fixed now. gerri: while you're doing that i'm going to talk about this perfect storm of things that are going on that are shooting some of these prices higher. we have government regulations on emission, right? even new coal-fired plants can't even get it together to make these standards. there is more expensive green energy. that is the alternative. and it is being used more and more often. state mandates for renewable

power. they have to mix in california more and more renewable power. reductions in nuclear power. believe it or not we're making less nuclear power in this country. finally natural gas pipeline constraints out there. sort of a perfect storm out there if you will. and i think, what's interesting about this is there are lots of risks of this, even as we're using more electricity all the time. it looks like we could have future price spikes. we've had some recently with the polar vortex that came through. everybody is short on energy. seeps like that could happen more often. what do you say, james? >> i think we'll continue to have price spikes. remember in the whole western united states? the year 2000, people had what we called the california electricity crisis. it was a shortage of hydro because of less, less rainfall. we're going to keep having those unless we want to invest in a large amount of facilities. but that is costly to have too much capital equipment.

so we're going to expect to see that there will be price spikes in electricity in the future. gerri: amen to that. >> you're right about -- gerri: go right ahead. >> you're right about those other factors. in those states like california where we have a severe renewable portfolio standard, those are pushing up the cost of electricity for everybody but california is not like the rest of the nation. most of the nation is not being as aggressive as california is. gerri: well, it is only a matter of time. james, thanks for coming on the show tonight. we really appreciate your time. thank you. >> take care. gerri: you as well. from energy to your smartphone, they're kind of connected, right? using your smartphone to pay for items at the store is supposed to be next big thing. remember mobile payments? but my next guest says consumer ares are not biting. neil weinberg, american

editor -- editor in chief of gang. >> gerri, we have something smarter than smartphones, credit cards. they probably still work and we have cash. gerri: there is money. there is cash money, that our viewers really love. you know you take it out of your wallet. >> it works. >> a boring concept to a lot of people out there. you just dole out the benjamins. the cash money, dead president the work. >> problem is that the smartphones don't really give you everything you don't already have. if you don't give people new value, why bother with complexities of apps and sim cards and horrible stuff you have to deal with to get it to work. gerri: i would expect this to be really popular with younger people. is it going over better for younger aged people? >> it is, but not going over well anywhere. part of the problem unlike a visa card or mastercard, it is not accepted many places. problem you get this, such as

google wallet, not something you can use everywhere. people say why bother. gerri: why bother. one of the anists, forster analysts said it is not evolution but revolution. could be a long time coming. in my mind you're worried about safety with the credit card. you worry somebody will steel your number, pin number, bank account for goodness sakes. seems to me mobile payments there even more problems or potential problems. >> that's a very good point. a survey last year found5% of the consumers are fearful of security problems. issues like the target security breach will make that prominent in people's minds. they don't trust it and that's a problem. gerri: peer-to-peer, that is problem. what do you like about that. >> peer-to-peer, if we split the bill i can send you half the money like that. that does, creates a value. something we can't do now. we can't do that electronically. if i don't have cash i can't send it to you. it doesn't cost anything. a lot of big banks are offering

it. a lost mobile banking things such as take a picture of your check and deposit, that is something people can understand. i can send my kid money at college. they get it right away so they don't get thrown out of the dorm. gerri: that is big value. if we go out to dinner, i think you should pay the full freight. i'm just saying. here are surprising numbers. 25% of large retailers, 5% of small retailers are using mobile payment systems we're talking about. that is lower than i would have anticipated. adoption rate from the other side, forecompetent about consumers is pretty low -- forget about. >> companies like verizon, at&t and google and t-mobile want to push this. merchants have to pay for equipment in the stores. unless they get a sense they will get new business from it. no thanks, we have card swipe readers in the stores. they're doing us fine. gerri: do you think five years from now people will talk about mobile payments like they talked about google glass? >> i think -- gerri: forget that. >> it has to catch on because

people find value there. right now there isn't a lot. the other problem with your credit card you may get rewards. we did, research, found with google wallet you don't always get rewards. so there is negative incentive there. until the backers of these mobile wallet start to create value and say, hey, there is additional reason to use this, people aren't going to bother with it. gerri: i need free stuff, neil that gets me in the marketplace. >> free stuff works for me. gerri: thanks for coming on. maybe we'll go to dinner sometime. maybe, maybe not. >> to be decided. >> thanks for coming on. now we want to know what you think. how do you pay for things? cash, credit, debit, mobile? log on to gerriwillis.com. vote on the right-hand side of the screen. i will show the results at end of tonight's show. we have more coming this hour, including how do you do that? we'll show you how to get the most comfortable airline seat on your next flight. it is tricky. new scrutiny of online brokers like e-trade, what are they doing with your money? stay with us.

gerri: stocks of big online brokerages, e-trade, ameritrade, make you do business with them,

got hammered amid increased scrutiny with regulators. are they getting kickbacks at your expense? wall street's own regulator finra is looking into it. the sec is under more pressure for these companies to be more open how they do business. for more on this, trial attorney, david stone who fought some of these kind of cases this story, i think it drove these stocks lower, but the fact is "new york post" did not break any new ground, revealed nothing new but you can see how interested the stock market is in this because they did bid down these stocks? >> yes. actually i think in august this investigation began, but, high frequency trading is under intense scrutiny right now. the attorney general of the state has made several proclamations. he is against it. recently he made thomson reuters stop releasing information to high frequency trade years that was your case. >> that was my case. gerri: let's back up a little bit to tell folks what we're talking about with e-trade and ameritrade here.

>> sure. gerri: the idea is that, you describe it. you will do a better job than i will because you represented these cases. >> sure. there is a concept called front running. and front running is a process where certain trades are made before other trades. that drives up the price of the stock. then the person who is the frontrunner gets the stock at a cheaper price. then they sell it at a higher price. the people who are not part of the front running get taken advantage of because they pay a higher price when they execute the trade or thought they were executing trade at the same time. gerri: for the case of e-trade, for example, they own their own broker-dealer, that their trades would flow through. if you wanted to buy shares of apple today, and doing it with e-trade it would go to this broker-dealer. the broker-dealer might not charge the lowest price ever. that is the problem in a nutshell. we talked a lot about high frequency trading. these are folks, that essentially raise prices for everybody, small guys, big guys, you name it.

big question whether that is legal. a lot of people think that is fine and dandy. i think if you're individual investor you need best probable price, i'm not willing to give up half a penny, a dime on my trade. i don't know about you. >> a lot of people feel high frequency trading should be illegal. maybe it is illegal. the sec has been looking at this very carefully. you know the rules of the sec were not constructed to deal with high speed, high frequency trading. so they're looking to see where they have to change the rules or whether the current rules would even cover it. there is no question that if there's information being given out in advance of information to the public, that is insider trading. the problem is, it is like insider trading on steroids because you have these high frequency traders can affect hundreds of millions, even billions of dollars in the market. gerri: part of the problem you have multiple exchanges now and some are dark pools. your trade could ultimately go anywhere. but you have to hear about this new poll.

and this is a poll of industry inciders. are u.s. equity markets fair for all participants? market insiders are asked this. this what they say, yes, only 18%. no, 70%. 70% if you talk to people who are expert in this industry, people who work in it every single day they say it is not fair and not fair for me. it is not fair for you and certainly not fair for you. why can't we get any traction on this. why does nobody care? >> i think the problem is that throughout the last couple of decades there has always been something going on, with enron, we can't trust the balance sheets, right? in 2008, we can't these complex instruments. now we've got these high frequency traders. the people on wall street are always looking for that edge. they're always looking to be on the edge of the envelope of legality to make money. and regulators are trying to catch up with them. gerri: i got to tell you, david. they would not say that we're not looking to be on edge of legality.

we're trying to do business. we're trying to make as much money as we can. we're public companies and that's what our hock tolders want to see us do. >> i think that's true. i said on edge of legality, many people they are legal what they're doing. like when you have a tax lawyer and you want to avoid as much tax. that is not illegal. if they're smart and find a way for you to avoid tax. but evading tax -- gerri: there is gray area. there is certain point where you walk across the line. before you go i want to read this charles schwab comment. he has been outspoken. high frequency traders are gauge system and reaping billions in the process and undermining investor confidence in the markets. high frequency trading cancer is deep and has become systemic and institutionalized. schwab is taking a lot of heat for these comments. people say he is talking his book. what do you say? >> to some extent he is talking his book. gerri: his book is my book. >> but the point is, that is joe america. joe america wants to be able to

invest in the stock market and know they have the same rights and they're being treated fairly as people on wall street. gerri: right. >> that is the way it should work. but regulators are, have to step in and make it work that way they have to make it with the short sellers, high frequency traders can affect the company. they can drive a company's stock down. they can drive a company's stock up, because he have the ability to trade so quickly. this is another issue. gerri: we could go on and on. it has been a pleasure having you here. you've been right in the middle of this controversy. we appreciate you coming on tonight and talking to us about this very important topic. >> thank you. gerri: thank you so much. later in the show we'll explain why tying the knot is tying wedding gifts into financial bind. how much do you spend on weddings? are you tired of having no leg room while flying or do you hate having aisle seat? coming up next, we ask you, how do you do that, getting the most

comfortable seat on your next flight. we'll tell you how to do it. weekdays are for rising to the challenge. they're the days to take care of business.

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gerri: going on vacation the last thing you want is to have a cramped seat on flight. tips how to get the extra leg room for little or nothing

gerri: imagine wi-fi at 35,000 feet. that's what at&t is promising. it said today it is planning to launch high speed in-flight wireless service on both commercial and business planes. now the new service is expected to be available as soon as next year, late 2015. at&t says it is also planning to improve communications for pilots as well. that would be good.

well, you spend a lot on your vacation, right? you don't want to have it ruined by a lousy flight. according to new data, customer dissatisfaction with airlines is sky-high and a big contributor to that sentiment, uncomfortable seating. here with how you can score extra leg room without hurting your wallet, air fare watchdog founder. george, great to see you. >> hi, gerri. gerri: listen, i can't tell, if i get a seat on one airline and get the same class seat on another airline, they're completely different, the amount of leg room is the not same. it is confusing for me. tell me about that. >> well, force, gerri, a jet -- for example, gerri, jetblue, they have 33 or 34-inches between seat rose. spirit airlines you get 2inches. that is big difference. what they are doing is squeezing seats closer together in the very back of the plane. now they have added something called, economy comfort, for example, on delta. so, that name is very

interesting. it is economy comfort, what does that imply about the other seats? that's a terrible name. gerri: you mean the small seats are economy comfort, is that what you're saying? >> well, no. actually the -- gerri: bigger seats. >> bigger seats are economy comfort. the back of the plane -- right, economy uncomfortable i guess or less comfort. that's funny. it is funny it. >> is funny. to your point, compete with right now ranges from 17 to 18 inches, 17.2 inches to 18.2 inches. i feel like i am squeezed, i really am. see dissatisfaction of customers, puts airlines with cable tv providers, social networking sites. we don't like those folks, because we don't feel like they're giving what we want. what are you saying, george. >> i think airlines are making it so uncomfortable in very back of the plane with regular economy seats, people are upgrading for fees of say $99 on

transcontinental jfk los angeles flight one way. you do get free drinks on some of these planes and priority boarding but making it sound comfortable in the back. people are upgrading. air fare watchdog did a poll a few weeks ago, how many people paid to upgrade their seats last year. a full third of people have paid to go into economy comfort seats or business class or first class because they're so uncomfortable in the very back of the plane. gerri: i feel like i'm peaking up all the time. george, payoff, what do i do? what is secret getting a comfortable seat without breaking my wallet open? >> well i would fly on jetblue. i fly on jetblue whenever i can. they're expanding too slowly for my space my taste. i'm a loyal american airlines flyer. i get automatic upgrades to more comfortable seats. become loyal to one airline. fly them all the time and airline will treat you better. >> george, you fly more than i

do. you fly more than i do. you probably have more frequent flyer miles than i do. what else can i do? >> well you can use the miles to upgrade to business class. i do that, 15,000 miles on some airlines will upgrade from $189 one weigh fare to $2500 business class fare. that is great way to spend your mice. you can get those miles by getting a credit card of the those how i do it. of the get a credit card. 40,000 bonus miles. i keep the credit card for a year. then i get rid of it. it doesn't really affect that my credit score badly when i get rid of it. gerri: i would not go that far. i'm not a fan of loading up on credit cards. too easy to forget about them. too easy to use them when you don't want to. >> yep. gerri: but i think your points about making sure you get the upgrades when you can makes a lot of sense. great tips, george. thanks for being with us tonight. really appreciate your time. >> anytime. gerri: 17 1/2 inches. come on! need more room than that. even if you're able to get

the best seat on the plane a rude flight attendant can ruin the flight experience. top five, airlines with rudest flight attendants by george's website, air fare watch dog dot-com. allegiant, number five. virgin america, despite the airlines ranking high on customer satisfaction, it got 9% of the rude vote in the survey. number three, frontier. this low costed operator, based in denver. number two, air canada. it is so nice on air canada? really? the airline is suffering from bad press. less than two weeks ago, two of its baggage handlers were filmed dropping bags on loading platform. number one, with rudest flight attendants, spirit airline with 26%. this low cost airlines charges customers for carry-on bags. according to the poll, the airline with least rude flight

staff is southwest. very interesting. coming up we're covering your assets. will the motto sell in may, have you heard that? stocks traders say it. will it hold true this year. >> congress is back after a two-week vacation with laundry list of things to do. what dowhat do you think they wt done? maybe they raise their own salary. stay with us. ♪ what super poligrip does for me is it keeps the food out.

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anything. >> i think a lot of the public believe the nation is safest when tear in recess -- they're in recess. there are productive things that i think the public expects congress to do on tear behalf -- their behalf and whether almost any of that will get done in the next six, seven months leading up to the election, you sounded skeptical, gerri, and i share that. gerri: let's talk about some of the things they have on tear agenda. let's break it down. avoiding the government shutdown october 1st just for starters, guy. >> yeah. that i don't think is actually going to be particularly dramatic. and the reason why is twofold. you go back to last october and the last government shutdown, it didn't work out particularly well politically for republicans. they ended up getting bailed out by the obamacare failure, but they were really hurting politically after that. and they have made sure that that's not going to be a repeat performance this year, because you may recall just before

christmas both houses of congress passed the so-called ryan-murray bush. ing bill -- budgeting bill. it did a two year law that sort of set the parameters for congress, so they're just going to pass a bill along that predetermined -- gerri: okay. there's a whole list of other stuff we don't have to go through, raising the minimum wage, probably nothing will happen. restore unemployment benefits, repeal obamacare, approve the keystone pipeline, stricter gun checks, funding for the highway trust fund, on and on it goes. but, you know, at the end of the day what i want you to talk about are these complaints against congress. this is a rasmussen poll, really entertaining. here's what people said. does congress listen to the people? 7% said, yes. does congress maybe things -- make things worse? 72% said, yes. that's really not a lot of support for congress. >> that's putting it lightly.

those are abysmal numbers for congress. i think people feel like the political system is polarized and isn't working for them. and the numbers you just ran through, i think, are symbolic of that. part of the issue here is especially when we're looking at the rest of 2014 is if you thought congress was bad in 2013, 2014 is an election year where there's going to be a lot of posturing -- gerri: i can't wait. >> yeah, well, the democrats in the senate have said we're not going to pass a budget. ryan-murray, that counts as our budget even though it's not really an honest to goodness budget. they're basically abandoninggov. of course, the republicans in the will do the same, and they'll try to make sure they get their vulnerable people reelected which might be good politics, but it's not really necessarily responsible governance. and that's why i think the polls look the way they do. gerri: before you go here, i want to show folks some of the things congress is less popular than.

>> uh-oh. gerri: root canals, head lice, nickel back, colonoscopies, that's a good one. cockroaches, france. brussel sprouts. you get the sense here they don't have a lot of support out there. but i'm like you, guy, who everybody loves. thanks for coming on the show. >> head lice is more popular than congress? gerri: high hurdle. >> i'm a cynic. gerri: at least you can get rid of head lice. >> oh, true. gerri: you can. they go away. all right, guy, thanks for coming on. appreciate it. well, an unusual warning today from the federal government. stop using the internet. the warning is for folks who use several versions of microsoft's internet explorer browser. a security flaw could allow hackers to control your pc. here with the details, jo ling kent. tell us about this. >> reporter: essentially, there was an explorer on versions 6 through 11, so the

computer emergency response team coming forward and saying, look, please don't use these, use an alternative until that's closed because the security breach actually allows hackers under the team of operation clandestine fox -- which is the name of it -- [laughter] to impersonate you or impersonate the company that has access to a networked computer. so it is a pretty serious -- gerri: who's going to get hurt with this though? is it companies? is it individuals? >> it's both. and, in fact, if you run in windows xp which a large majority of computers still do -- gerri: the one that's in front of me. >> yes. you actually can't get it fixed, and that's the problem. microsoft earlier this month decided to stop servicing windows xp. so that's the real problem here. they usually issue security patches the first tuesday of every month, so microsoft -- that's known as patch tuesday, so when they put out a security patch, so we may get it as may 6th, but that's, again can, not for windows xp. it's a pretty difficult

situation for microsoft right now. so the federal government, dhs saying use -- they didn't say mozilo or chrome, but those are the two main alternative browsers. gerri: wow, that's not good news for microsoft users, and that is a lot of people. >> it is a lot of people out there, and it's a situation that it's hard to prevent especially if hackers get more and more sophisticated. gerri: which they do every day. and, unfortunately, our government is not. joling kent, thanks for coming on. and still to come, are you attending a wedding this year? more than one? why celebrating the happy couple's big day is taking a huge chunk out of your wallet. and this summer turn out to be a bummer for stocks? what you need to do preparing fur portfolio coming up. we're covering your assets. ♪ ♪ i ys say be thman with the plan

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♪ ♪ gerri: sell in may and go away? well, it's that time of year again when traders are planning their summer vacations, and investors see the worst time of the year for their portfolios. recovering your assets with dade scranton, advisers academy, dan schafer, host of absolute investment strategies, and hillary kramer, president of a and g capital. so sell in may and goaway away, i've heard this forever from traders. dan, what do you say? >> the professionals have been using that for years because mathematically the worst period to make money has been from may to october and then from october back to may is the more profitable periods. but because we had a selloff in february, it may not be the same way this year -- gerri: are you being a bull? >> no, no, no. [laughter] no, i think it will continue if the selloff does come because of the way the market set itself up. >> i see a rotation.

so i see stay in may, but rotate. rotate to more safety. seeing companies like ge and microsoft and beaten-down names -- gerri: what are you looking for if. >> i like dividends, especially global dividends. vale where you can get 5% iron ore out of brazil, completely undervalued at this point. gerri: david, what do you say? is it time to put your money on the side? is. >> this year especially with the markets still being near a record high. you know, the average investor really cannot take advantage of market pullbacks, because typically they're fully invested. i think the reason a lot of the affluent folks do pull some cash out of the market during the summertime is not just because today want a vacation, but they want to get in more cheaply in the fall. so i think it's a good time for the small investor to take some money off the table. gerri: everybody says the small investor shouldn't play like that, that they should be in for the long haul. dan, to you, you know, the idea is that small investors, you

can't time the market. you don't know what's going to happen. >> no. the probability of a small investor trying to time the market has never been historically well, and being in the market is goods, but there's nothing wrong with just pulling some money off the table for the opportunity but not to try to time your whole portfolio and take it 100% to cash and 100 path back in. -- % back in. >> that's right. it doesn't make sense to try and be a day trader because it'll never happen right. it'll always be losses there, and if someone like me, i can go and buy call options on friday afternoon when the nasdaq's tanking -- gerri: i'm not doing that. >> -- and find myself making money monday, but individual investors should be in it, yes, gerri, for the long term. gerri: you know, you guys invest for a minute, an hour, a day, a week, i'm investing for my life, okay? years and years and years of investment. now, i want to talk about one stock, but bank of america today out with big news, suspending its buyback program and an

increase in the quarterly dividend that they had planned. dan, to you, what do you make of that? i mean, everybody owns financials. >> gerri, this has been a major problem in the accounting profession since i got in in the '80s. ge had a problem in 2010 with interest -- 2007 with interest rate swaps, and i don't know the details of what happened here, but there were some structured notes where they have a nominal value and a real market value -- gerri: oh, my god, that sounds like greek to me. [laughter] like, this is the very kind of thing that individual investors say, oh, my lord, you're killing me here with the details. hillary, what should we be paying attention to? >> the big picture. bank of america, wells fargo, the investment banks like goldman sachs, you want to be there. today is a buying opportunity in bank of america. 6% was completely overdone. $4 billion, but it's a $2.2 trillion company in terms of assets. gerri: david, what do you say? >> well, i still believe

regardless small investor, medium or large investor, there's nothing wrong with taking some winnings off the table. we've just had an incredible compression rally for the last five years, and i'd like to say it's okay to take base hits, but when you get a double or a triple, that's like finish. gerri: i want home runs every day. okay, maybe that's not realistic. i want to move on to the pimco story. saying that, you know, there wasn't a big fight with bill gross, the founder of pimco. actually, he was prepared to leave and ready to leave. dan, what are we missing in this story? i don't think we're getting the real story here. >> it's amazing that this is making news. [laughter] anytime there's a disruption in the markets when you have partners at the helm, people running it, the bond market's had a run for 30 years. and eventually it's going to turn. so when there was some turmoil in the last year, year and a half, there was probably some problems in there like every other major managers we've heard about that split up, and it just got aired, and, you know, it's

just basically -- gerri: that was ugly though. i mean, there was some really nasty comments. >> it's not really something from him. he's kept his mouth pretty quiet about it saying i'm going to spend more time with my family and look for opportunities. he's getting out at the top. >> people like bill gross who manage trillions of dollars and who have been so successful have personality issues. and it's just normal -- [laughter] and we just have to accept them -- gerri: i love that. >> he's eccentric. gerri: he is. and you're saying that's okay. >> yeah, absolutely. mohamed el aryan probably didn't understand that. probably in an ego sense that the two just couldn't get along, and they clashed. gerri: david, i think everybody and their mother owns a piece of pimco, and this is a company that really matters to our viewers. what are you telling your investors tonight about this company? do you like pimco, and what do you make of what's gone on with the leadership there? >> well, i think what dan said a

moment ago is correct. we have had a 34-year tailwind with the bond market that could very well be about to turn into a headwind. mohamed is a very smart man, obviously. and in one of his interviews, i can't remember which one, but he said something to the effect of broadening his horizons, and don't quote me on exact words. but when i heard that i thought, gee, maybe he's actually venturing out and focusing on a different part of the market overall. so to answer your question, for me i've been steering people away from bond funds kind of as a matter of course. gerri: well, i mean, look, you've got to think that that could be the next bubble in the marketplace. dan, i'll give you a quick word on that, and we're going to have to go. >> on the bond market? well, i think the treasury market's pretty solid. the banks are buying that because they need the capital, and that's what we're seeing with this bank of america issue. i think the corporate bonds are risky. i'm looking for a deflationary environment. gerri: apple's coming out with a $17 billion bond offer. >> yeah.

gerri: there's another way to get it out of buying the stock. >> you know why? because most of their money's overseas, and they announced the bond, excuse me, stock pieing-back program, and they're going to pay dividends. they don't have enough money in the united states to do that. this is a common practice from a tax effect because congress can't get their act together, so they're issuing bonds. they need the money to paytive depends in the united states. gerri: i wish i could pull something like that, you know what i mean? if i could reduce my tax burden by -- oh, well, i depress i can't -- i guess i can't. great job, all, appreciate your time. >> thank you very much. gerri: stories you're clicking on on foxbusiness.com, a wild day for the market aztec and bank stocks sold off, the nasdaq at one point lost more than 1.5%. it recovered some of those losses by the day. pending home sales rose 3.4% in march from the previous month according to the national association of realtors. it's the first jump in nine months.

toyota moving to texas, the company today said it's bringing several operations from around the country to a new headquarters in plano. it's a big win for texas which will be adding hundreds of well-paying jobs. and los angeles clippers' sponsors are pulling out after an alleged recording of owner donald sterling in a racist rant went public. the mass exodus includes carmax, state farm insurance, red bull and others. the nba says it will make an announcement on tomorrow about its investigation into the alleged recording. and those are some of the hot stories right now on foxbusiness.com. still to come, my two cents more and why a couple's big day is leaving their guests cash-strapped. are you spending too much money on other people's weddings? we're going to help you. stay with us. ♪ peace of mind is important when you're running a successful business.

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gerri: are you attending a bunchover weddings this year? be prepared to dig deeper into your projects because -- pockets because according to a new study, the cost to attend a wedding has spiked 75%. joining me now, anya whitaker. welcome back to the show, it's always good to have you here. now, this is not just some random survey, this is american express, so the numbers are pretty reliability, but i have no idea how people are spending this much more dough on their wedding. why? >> so i look at the national average of a wedding on average, and, you know, according to our study, the not real wedding site is 13,000 people. the average cost of a wedding is going up. the average is $30,000.

gerri: why? >> for that it's all about, it's about, you know, honestly -- gerri: you know, we talk about how there's no inflation. here it is right here. people are seeing increased costs for food, everything associated with a wedding. it doesn't a have to be what you're buying for your household. >> a lot of people are investing in a brunch or afterparty, and the cost really does add up. and i'm also not surprised on the guest end because a lot of is your lodging and your flights and things like that, and travel costs are on the rise as well, and so are destination weddings, so with that comes much, much more spending even for the guests. gerri: some of the people i know here at fox business, a lot of the young women are attending six weddings this year, ten weddings this year, i have no idea how these women afford it. so here's spending rising, guests spend $109 on average, up 16% from 2012, and if recipient is part of your family, the cost doubles. but that doesn't include if

you're traveling for that wedding, having to buy a hotel, put gas in the car. then there's the present. on and on it goes. you said something interesting to me in the break that if you are invited to a wedding, you're super special year, why? >> it's true. well, the average size of a guest list have gone down year-over-year, so consider yourself very luck question if you've been -- lucky if you've been inviting because a lot of couples are cutting the guest list and splurging more on their guests. transportation more likely to be included, shuttling you from the ceremony to the reception. if you've been invite today a wedding, make it your vacation because that's the only way you can make sure -- gerri: that is a great idea. listen, can you get away with turning town one or two of these -- down one or two of these? if you're invited to ten weddings and you have to travel for each of them, can't you just kind of prune, not do them all? >> yeah. i mean, honestly, no one says you have to go to the wedding. there are ways to save -- i don't know, if you're going to

ten weddings, you might want to prune. but going in on a group gift, looking for hotel block discounts. honestly, if you know you're going to be invited to a lot of weddings, put a budget aside because it really does add up. gerri: it does add up. it's amazing. i like that idea. thanks for coming on. great to see you. >> good to see you too. >> we'll be right back. [ male announcer ] if you suffer from a dry mouth

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>> just a few moments ago i was talking about why mobile wallets are not catching on with consumers. how do you pay for things? here's what some of your posting on my facebook page. joe says cash. 99% of the time. 1% the other time. cash or checks, credit cards are only for emergencies. and mostly debit, sometimes cash.

we will have to wait for mobile to see how it goes. prove it to us, he says. we asked you on gerriwillis.com. log onto gerriwillis.com for our online question every weekday. finally tonight, if there is just one thing that drives me absolutely nuts, it is the unintended consequences of government policies. the obama administration has been bound and determined to shut down the coal industry despite the fact it is a critical source of industry. nowhere has a policy been more evident than california where the price of electricity is going up 47%. that is a lot of dough to recharge your ipad. it is a competitive advantage as a nation giving up on call is a disastrous policy that will only hurt middle america. thank you for joining us.

don't forget to dvr the show if you cannot catch us live. we will see you tomorrow. neil: do not say i did not warn you this with a distinct possibility. talk that mitt romney could be gone for the hat trick if jed bush does not decide to run for president, the man who has tried twice before they want to see if three times is a charm. before you dismiss it, do remember this, ronald reagan tried three times and succeeded on his third venture. that was then, are we about to see history repeat itself in just a couple of years? first, managing editor on why it could happen. we also have the best and brightest on the fox business all-stars.