tv The Willis Report FOX Business June 8, 2014 4:00am-5:01am EDT
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>> you ready, jeff? >> i'm ready. >> all right. >> oh, dear! oh, no! whoa. stay tuned for "across america" david: and champagne. have a great ekhened. liz: "the willis report" is next. gerri: hello, everybody, i'm gerri willis. welcome to the "willis report." coming up today on the show, we're taking on one of the more nerve-wracking experiences in real estate, the home inspector. a few simple moves can save i a ton of money. it is wedding season. big change in tradition when it comes to the dress. fire up the grill. we'r grillin up perfect tips for summer barbecue. we begin with a great disconnect between washington, wall street and main street. the jobs report today shows we recovered all the jobs lost in the recession but there is one big caveat. we'll get to that in a moment. the federal reserve says household wealth is at a new record and stocks are hitting new record highs but dot
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headlines cover up the real story what is happening in this country? with us, john lonski, chief economist at moody's and rich lowery, editor-in-chief at "national review." let's look at some of the headlines from today's jobs report. here is how the editorial pages recovered it. finally, market returns to 2008 peak. today's payrolls exceed 2008 peak. major milestone. back to precrisis levels. yet, the market is hitting these new highs. you know look, the economy should be growing. the population is growing. it is six 1/2 years later. shouldn't news be better than this, john? >> the question is, we had $750 billion of fiscal stimulus. we had zero interest rates for a long time. the fed has engaged in quantitative easing. and it took us 59 long months, nearly five years, to get back to where we were at the peak of the previous cycle. let me show you how this compares with the past. that previous recovery, 2002,
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2007, under president bush. was previously the softest recovery since the second world war. yet by the 59th month of that recovery, payrolls exceeded previous high by more than 4 million jobs. it is even better under clinton. same comparison. more than eight million in reagan, more than 11 million jobs. there is nothing to brag about here. gerri: rich, we look at the numbers. we see service sector jobs growing. that doesn't make me feel better. i know a lot of people out there, we hear from them all the time on twitter, facebook page, email. ey're not happy with the economy and the jobs it is providing. what is the white house saying? >> there are a number of things going on here. they will be spiking the football on the number if they haven't already. we'll hear talking point we got back to prerecession levels. one there is length of time which jon highlights. reagan recovery took 11 months to recover all those jobs. took five years in this case. gerri: that was a steep
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recession. >> right. and then wages. you know the wages still aren't growing. you have this job gap give the growth in population, seven million jobs are missing. that is real pain out there you see in this so-called disconnect. gerri: i jus don't see the cause for celebration when i talk to people i know. even sew the federal reserve says household wealth is up. look what real people say. this is what is so interesting to me. when you dig in and look what people are actually saying, 2/3 of those polled in a recent fox poll say the economy is in recession or a downturn. 30% saying it is just doing okay, john. what do you say to that? >> this recovery is forethe chosen few. you know that by you number we have record high levels of household net worth but unfortunately, these gains have been skewed towards upper income individuals. i have never seen a time in u.s. history, in my lifetime where we have had the rich just getting
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richer and everybody else being left behind. gerri: we'll have to leave it here for just a second. we have some breaking news that charlie gasparino wants to bring us on carl icahn. charlie, what do you have? >> i guess you could say uncle carl icahn is back. after losing that insider trading investigation. a lot of people thought it would delay or derail his activity intentions. what has been filed, and i spoke with carl about this. he is taking 9.39% stake in family dollar. he bought about 10.6 million shares. this is $600 million plus position. here is the interesting thing here, guys. this is activist move by carl icahn. he is looking for bored seats he tells me. he is looking for strategic alternatives. ie, a possible merger. the company that comes to mind when you think of family dollar, i guess a mid-tier retailer, is dollar general. and i know they have had some talks on and off with dollar general in the past. from what i understand, carl will be pushing for some sort of
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merger between family dollar and dollar general. watch those two stocks to go up. i think family dollar is fd, symbol. what is dollar general symbol? dg? dg. so look at those two symbols if you're looking at the stock market after-hours. this will be a pretty interesting deal. like i said this is activist thing. this is carl going. he wants to shake things up with the company. he thinks it is very undervalued and the sort of midlevel retailer will make a lot of money. not high-end, not low end but midlevel retailer. he will push for activist intentions. earlier in the week there were reports carl would pull back from an activist bid. the reports were sort of, they were obtuse what that bid was going to be but they said this insider trading investigation, the one that involves mickelson and billy walters and mickelson the golfer would derail any intentions of his. not so.
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when i asked carl, what do you have to say to the "wall street journal" because they ran the story about this. he laughed and said, we keep going. that is direct quote from carl icahn. obviously if there is anything to that investigation doesn't seem like carl cares that much. any way, guys, back to you. very interesting story. we'll hear more about this later in the week. he will be pushing for merger between family dollar and dollar general, or something along those lines. guys, back to you. gerri: charlie, thanks for bringing us that. those are two companies our viewers know really well. thanks for bringing us that story. more breaking news from carl icahn tonight. i wonder, john what do you make of this? does this play into the story the disconnect between main street and wall street. >> exactly. the only way you're doing well in retailing, the very high-end and the very low end. these are deep discounters. these are chains that make walmart look pricey. a sign of the types. gerri: rich. >> look at job market by education level. if you have a college degree or
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better, there is not a jobs recession. the working class has been hammered and not yet recovered. >> we see this play out all the time. i certainly hear from our viewers on all of this. one conversation we've had on the show again and again are the stock markets rigged? sec chairwoman mary jo white saying there, no they're not. new conversations about regulations for high frequency traders. we talked a lot about that. in a same poll we mentioned before, fox found that many people believe the stock market is rigged. 58% believe that. what is behind that, john? >> number one, there is a lot of well-publicized cases regarding insider trading. on top of that, middle class america is quite puzzled. if the economy is doing so poorly why is the stock market going gangbusters. there is a disconnect for the average american here. gerri: rich? >> i interpret it really, in the broader context of a sourness about all of our institutions which people have viewed as
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failing, whether politics or the media or this. in the broader context you have this housing crisis, destroys individual lives and big banks get bailed out. we're still feeling aftereffect of that. gerri: i think so too. this week consumers said they didn't think the housing market had recovered. there is not a economist in new york and not a policy maker in washington who believes that. the disconnect is huge. thanks for coming on to help us explain this. >> thanks, gerri. gerri: while the jobs numbers look rosy you might be sitting at home say, what about me? joining me is tony bashara. he is author of a four books on job hunting. a lot of job hunters are confusing activity with productivity. what do people need to be doing right now, if you are frustrated with this jobs market and you want to get in front of the right person? >> you have got to recognize the most important thing you can do is interview. it takes an average of 16
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interviews to get a job. and it takes an average of almost three or four months to do that. you've got to have massive amounts of activity. you have to call lots and lots of people. you got to work the numbers. most people get three or four interviews. they don't get hired. so then they stop. they have no momentum. and they don't push forward to extend their number of people that they talked to. and get as many interviews as they possibly can. gerri: so, tony, you pay a lot of conversations, telephone calls, how many people, how many people do i call? >> you will have to call 100 people before you talk to 10 hiring authorities. gerri: oh. >> you will have to talk to 10 hiring authorities before you get one to interview you. and you're going to have to have at least 10 of those before you get a viable opportunity that might, that you may take or you may not. so it's just, i try to teach this in my online program, the job search solution. you have to have a massive,
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looking for a job is a job in itself. you have to get those numbers to work for you. you have got to realize, it is a numbers thing. it is a systemic approach. you have to call those people every 30 to 45, to 60 days. everybody knows 200 people. and those people know 200 people. so you got to just keep calling and calling and calling. get in front of as many people as you can. gerri: i like your approach. you just can't get discouraged. you have to get on the telephone and talk to people. there are a lost mid career people out there very worried tonight. they're picking on me. i can't get a job. >> yeah. gerri: are they being too prickally. are they being too focused on their own problems? >> you bring up a really good point and it's, you know, like the malaise that the guys were talking about a few minutes ago. it is kind of the attitude out there. if you're middle-aged, you think because your middle-aged, or because you're too short, too fat, too tall, a woman or guy,
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minority you think that is what is against you. it's not. those are some things maybe some companies consider but most of the time they're just looking for a really good employee and we have a tendency, when we don't get hired, we think it has to do with something other than, i didn't talk to enough people or i didn't give them value of why i ought to be hired. gerri: i like what you say about the phone calls. you've got to call everybody you know. not just people in your industry. friend, family, distant relatives. everybody you know. not just some of the people you know. you know, we're talking about mid career folks, right? it has been very frustrating for a lot of those people. they feel like they're missing out. at what point do you start thinking maybe i should switch careers? >> only when the your, the career that you're in has deadenedded where there are just absolutely no jobs in it out there and there are some, the mortgage industry has suffered a little bit over the past year.
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so, year or two. so i would be careful about thinking about changing industries. it is a, it is harder to do than most people think because you have to start over. now if you're prepared to start over, and take a real big cut in pay, and start at the beginning, you know, i would consider that along with the other things that you're considering, but realize it is going to be really hard to do. the whole thing is going to be really hard to do. that is the biggest, biggest message is, it is going to be hard and you're going to have to work really hard at it. gerri: know what you're up against. tony, thanks for coming on. great to see you. >> always a pleasure. gerri: now we want to know what you think. here is our question tonight. if you cld, would you switch careers? log on to gerriwillis.com much. vote on the right-hand side of the screen. i will show the results at the end of tonight's show. still a lot more to come at this hour. including your voice. you know your voice is important to us.
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during the show we want to you facebook me, tweet me, @gerriwillisfbn. i will read your comments. we want to hear what you think about the show. ask us your questions, we'll respond. coming up a home insp you fy pit. it happened to me. but there are things, buthere are things they aren't telling you. how much should you trust your home inspector? ♪ @a
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gerri: whether homebuyer or home homeions can be make-or-break the deal. how do you transact without headaches? we have somebodyho has been 20 years as a home inspector. a radio syndicated host founder of moneypit dot-com. can you left a home inspector. will they give you a real deal. >> if you find a good home inspector. an experienced pro will check the heating system, the cooling system, the structure, the
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foundation. somebody less experienced might focus on more mean nor, less important things like chipped paint or squeaky floor. find experienced pro that information will be in proper balance and perspective. gerri: i once got saved from a home inspector from buying a total dive house. we went to look at this beautiful farmhouse an the home inspector said, i don't know the siding looks pretty dicey to me. they put in their flat head screwdriver into the house and it went right through the wall. you know who that home inspector was? it was you. >> i remember it well, gerri. certainly do. i was happy to save you from that money pit. look, if you find a good inspector you will not have that problem. you have to know what to look for. first of all look at licensing. remember that license something different from every state. you know in maryland you have to take 72 hours of a class. in new york, 140 hours. in california you need nothing. in virginia you're not required to have any experience. just because a guy's licensed doesn't mean he will do a good
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job as home inspector. check for membership in the american society of home inspectors. those guys have done 250 inspections. they have taken anxamination. they have a code of ethics. if you put that much effort into your inspection you will do a good job. gerri: that designation and good guys have it, what you're saying. >> exactly. gerri: you have something new that i have never seen before. there is trend of getting inspection before the offer. >> yeah. gerri: i'm surprised. why are people doing that? >> they're doing that because they want information before they're too deep into the transaction and have a hard time getting out. if you want to know about the fiscal condition, get the home inspection early before you put an offer in. the risk you will spend money on inspection. in san francisco they did some research. 21% of those did inspection early were more likely to go through with the transaction and close on it. it is good indication that you're serious to the home seller and you will find a house exactly right for. >> i love that. to me it is essential, there was a time when the market was booming, people would say, we
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won't dot home inspection. >> big mistake. gerri: disaster, right. >> absolutely. gerri: wrong thing to do. you miss big problems. >> it is. you could really make a very, very serious mistake by waving the home inspection contingency. get it done and done early. things can change from the time of the inspection until the time you close. do reinspection at the end before you close to make sure nothing changed or nothing new. look at winter we had. anything could happen in three months. gerri: quick word about sellers what do they need to know about inspectors? >> first a lot more than painting your house to get rea for inspection. check the cooling and heating system. do all the service. fix up minor maintenance you're putting off. get your own home inspection. find out how your house will present in eyes of professional home inspection without the buyer involved and all the emotion you are rounding transaction. gerri: take care of little things somebody might get hooked up on and take care of that ahead of time. tom, so good to see you. thanks for coming in. good to see you.
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>> you got it. gerri: later in the show we'll show you how to grill delicious and healthy food with a gourmet chef. that will be a ton of fun. i look forward to eat egg. many bridesmaids will walk down the aisle this summer with a dress they pay hundreds of dollars for but never wear again. how do you repurpose the dress? we'll show you. ♪ if i told you that a free ten-second test
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could mean less waiting for things like security backups and file downloads you'd take that test, right? well, what are you waiting for? you could literally be done with the test by now. now you could have done it twice. this is awkward. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business built for business. gerri: ladies, do you have a closet that looks like this? >> bridesmaids dresses. oh, good god. what, you kept them all? you have a whole closetful.
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>> i have a lot of friend and i like to keep them. gerri: what if, do you do if you want to keep the bridesmaid dress and want to wear it again? is that unheard of? our next guest says no. joining me a celebrity stylist, fashion expert, nicole brewer. >> thank you so much for having me. gerri: good to have you here. these numbers shocked me, i have to say. the cost of attending a wedding up 75%. $592 per wedding. this is atrocious. >> it is expensive to go to a wedding these days. gerri: you have to repurpose this, no doubt about it. >> you have to be able to wear that dress again. gerri: we have to walk through some examples. show the first one, the first example of a dress we're going to repurpose, one you can wear to work. let's see the original. we'll go to nicole's fix. >> absolutely. gerri: okay. so there's a dress. >> right, this is a beautiful, long, one shoulder cascading
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cringe keled chiffon dress. this is actually a dress, that at at wedding, totally elegant. but on vacation, it's a casual beach maxidress. gerri: how do you do that? what would that look like? >> it will look like this. you will add, you change your footwear and total lid put bejeweled sandal. gerri: show me what you did? >> what we did is right over here. gerri: how nice. i like that! >> add ad denim jacket. changed the sandals and perfect for a romantic walk on boardwalk. gerri: i feel like we're going out in the evening. the wind is blowing. the dress is blowing back. >> absolutely. gerri: i look pretty he will grant. >> absolutely. gerri: look at next one which i think may be wear to work. this is a again you have as a bridesmaid. look at the one we've got there. >> absolutely. that is a short strapless dress with full circle skirt. what i love about the david bride dal dresses they're totally able to be repurposed.
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under $150. gerri: right. >> this is simple enough silhouette you can weave into your wardrobe. gerri: show me how you fixed it up. >> this is what we did here. at that today ta da. gerri: add a floral pair of shoes. >> cardigan, jacket, belt to accentuate the he waist. gerri: where do i wear this? >> brunch. date on sunday. gerri: my husband of defend years. >> absolutely you have to have the dress. gerri: another bridesmaid dress that nicole will weave her magic on. let's see the next one. the before. oops, we did that one. can we get another one? >> let me tell you, the best part about davids bride dal dresses. they have really figured out what women want and that is to wear it again. they have them in sizes two totient six which is this -- two
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to 26. gerri: there is kind after peekaboo thing. >> illusion neckline. that is huge trend right now. isn't that nice? it has a beautiful skirt, a beautiful hem. making it perfect for a spring-summer wedding but the illusion neckline can transition to the office easily. just layering. i put a simple, tailored crisps blackjackket on it and smart shoe and perfect for work. gerri: very attractive. we have one more here. this is super fancy. >> super fancy. gerri: this is black lace dress. this is kind of thing seen it but you made it for nighttime. >> i love the dress because it is rich andakes the lace trend to a whole young, fresh level. here's what we did. we added something really racy like a leather jacket, statement julie. a booty. gerri: booty. >> i like the booty. i feel like the outfit is for you. can totally go to evening concert or out with the girls. again, under $150.
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up to size 26. at is not to love? gerri: very nice. bottom line, your advice talking to young women about, trying to repurpose that dress, do you have to do major renault on it? do you have to cut it off? what do you do? >> you have to be creative. use what you already have in your wardrobe. like an achievement to really rewear a dress. as style it i always feel i've done something if i not spent any money and totally repurposed the dress. with the long dress, take it to the tailor. take it down it street to the dry cleaner, have it cut and voila, it will be perfect for a cocktail dress. gerri: i think you did a great job. thank you for coming on. >> thank you. gerri: fans any shmancy as high husband woul say. still to come. virginia's dmv is cracking down on uber. our legal experts will debate. we'll show you how to make your grill sizzle with healthy and tasty meals. look at that.
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gerri: welcome back to the willis report we finally made outside to grow a year ended today i have a special guest who is the executive chef who is here to help us. >> good and healthy. gerri: we have to get into the bathing suit. so first things first start with this. >> we took of barbeque rub with chilean spices that is good for state. for different types of chili's, event these are three different types
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withes, coander in some salt goes into here. this is the finished product gerri: i will work on that. and that goes on the state no oil or butter. gerri: no olive oil? >> nothing. >> the above the polls that out. gerri: you want it to go that way? >> ahead of time or the morning before it creates a nice crust. gerri: i'd like to put it down beside. >> this was just on the grill. we can do this one also. the other saying is the growing tropical fruit e$mg]9oñd throw it on then
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grill. iacocca watermelon just like a stake. gerri: for how long? >> just to put a load little bit of h.r. on its. it is more interesting that way. gerri: sometimes it tastes even better. >> with a little bit of salt and has a nice round did flavor i al#uc xzé had of papaya and mango marinated with the vinaigrette with some ginger it is tropical than onions and peppers and everything works together weld. gerri: i love says. >> a classic take on mexican grilled corn with the space the man days and instead of better use yogurt this is
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also very low-fat. gerri: i have had this many times. >> and grilled asparagus but i also point something different on it is touching the assault -- chile salt. but don't put it on donuts. [laughter] this is some chopped herbs and citrus andolive oil in europe would go well with the stake. gerri: this is very simple as well. you can get some nice color then bring it out and it is good to go. >> what is this i hear?
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>> we are running this promotion and all across the country. even down the street. is national dona delaware. -- doughnuts day. that is chocolate with the aroma glaves with jelly. this is like the happy hour don't. gerri: i am not supposed to drink on the job. >> that was citrus rum. gerri: you can come back anytime. >> everything has some sort of alcohol this is the
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service now valued at $80 billion. the good news. but the virginia department has issued the cease and desist letter but is it legal? we have our fox news legal analyst author of the new book a deadly business. these wheel, why is the state of virginia trying to ban them? >> they have not kept up with the idea of ride sharing it is not taxicabs where they are regulated but the law does not cover something like this. has already gone to this in california and massachusetts as well where the law has to keep up with the brand new ridesharingq%ñ. gerri: does this have anything to do with
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organized labor? is there a concern by the states the unions might get angry? >> who knows? you cannot say for sure either way but in our society the law house to permit something it does not work or you can break the law and hope it catches up to you. in this particular situation it doesn't say it should not be legal but it is not the goal now they want time to investigate inead of people using private cars without oversight to assist passengers for profit. just trying to bring it up to speed which is what happened in do new york city where the taxi and limousine commission since can regulate. >> but with the sees san displeasures -- cease and desist letters you have to shut down.
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'' we don't know how long the investigation will take however they anchor more fines if they go for word. the law and the regulation could be changed to cover within the weekend or maybe a week? come on. >> maybe that is the case but one of the companies was fined $9,000 but that put them on notice maybe they should not keep doing it. get a straight out then go back to work. gerri: what is interesting they say they create 20,000 jobs a month in the economy that does not seem able to grow. this is an old-fashioned regulation written before uber was even thought of. >> i don't disagree. but that is not how we do things they just kept
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operating in they are now in other cities they would stop >> they did it in new york and they did agree to be regulated by the city. but there is a good point why don't they just do with the right way? >> i don't have a problem with that. at this point it shouldn't bet it should be cookie cutter to get that done to change a regulation. now people are not getting the services they want and customers loved uber. >> but that is not to say it would not have been here as well. there is no regulation they can deny services people have disability if they don't want to go into neighborhoods they have to
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be licensed for the drivers. gerri: but if you don't like them you don't use them. >> is of a quick fix. >> get will be solved right now get permission. >> that usually does not happen. gerri: let me make 1.. gerri: -- uber just got money from investors that dahlias the company at $18 billion. it is pretty much an application with an invitation to drivers is worth more than hertz a company that has been around for decades and decades. do we want to stop the growth of companies with brand new ideas? >> we do not banal they have enough money to pay lawyers. [laughter] to work out what needs to be worked out. it has to happen they will not get away without.
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>> pay the lawyers is the answer? >> that could be the effect. gerri: thank zero. have a great weekend. here is what you are tweeting. if you could would use which careers? >> yes. to be a stand-up comedian for what it is worth five college student hoping to switch to a better career. >> not settled. i switched careers and it has been a great. >> the american dream is alive and well for those willing to work and sacrifice if they think the dream is dead there waiting for the ministate to fulfill their wishes. is it dead? no. just the temporary setback.
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>> has the office of the president lost in the common touch? mimics strictly speaking of this administration and the reason why is it never had a common sense to begin with. gerri: thank you for that. with love to hear from you. said to me an e-mail at gerriwillis.com. lew will end up at the top the leader board? we have up for review and here is your consumer gauge. check out. the s&p 500 is up year to date.$
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just around the corner it is time to take a look at the pick that could impact the scoreboard. phil mickelson is scheduled to win over tiger woods for the first time and we have the latest rap up. welcome to the show. i want to start with what is legendary with the course it is one out of eight. what is special? >> super historic dating back through 18951 hosted major championships this will be the florida cents the ryder cup event wendy's so then incredible 15-foot putt and beat phil mickelson
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and he has been chasing the dream never since. gerri: and then there is a big statue erected to him and air but they get strange but everybody looks at the leader board. who has momentum right now? >> them name guys right now adams got coming off of colonial, mcelroy is struggling but back on his game with the broken engagement. [laughter] people are saying is a slight it is a good thing because he finally won. he has been squeezing and of course, the sentimental favorite is phil mickelson though one major that it is lacking in his career grand slam he has spent six times
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the runner-up to win at pine hearst would be magical. gerri: insider-trading investigation with carl icahn investigators approached him on a golf course but there renner the opinion that if it was innocent in bet of the us specifics but there was is it as they he is doing since you won dash pretty well may be the least momentum but he shot 67 yesterday. if he can find some game but the crowd will be behind him. gerri: when he is on the role get out of the way. >> he likes the high stakes
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shots and to do crazy things that the crowd goes wild. what about bubba? >> masters champion to time majo winner we have seen him transition he is having a great season aside from the masters victory he has won a couple tournaments' in the 2013 season that is news this year but i would expect great things in life the kit will set up for him if he putts well. gerri: in the open and the following week? >> absolutely. stacey is top of the world ranking just reclaim to number one with a recent win in the atlantic city the all-american girl. the lpga is on the upswing we have great american and players performing well justin time for the added spotlight of the u.s. open
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gerri: early in the hour i talk to us jobs experts for advice on switching careers but would you? 41 percent said yes 59 percent said no. you are happy where you are. log on for the question every week day. to talk about the disconnect between main street and wall street does stock market is on fire and jobs and housing
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coming back but a real sense of prosperity that is missing too many citizens are left behind from newlyweds of the 70th anniversary this country eds more bravery and determination and true grit showed by the greatest generation region of rededicate ourselves to the cause but we need from our elected officials and business leaders. and finally talking about the u.s. open i cannot wait to to get to pine hearst where this will be held to talk about possible winners who will live we? we will find out firsthand next we and will be there with my family i will block historic plan hearst course
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number two. have a great weekend. think you for joining us don't forget to do tv are the show. charles payne is next. neil: what does it say about the deal when the bad guys say it is good for them? welcome, everybody. i ameil cavuto. into this was a matter of time. you get one of the us suppose of the good that people would start talking. but consider this from a top taliban insurgent talking to time magazine editor. >> it is better to kidnap one person then hundreds of useless people and goes on to say that not
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