to beat up opponent before he has the chance to beat you up creating the ultimate adrenaline rush. david: some people call that fun. you will have fun with "the willis report." gerri, the pain at pump it's here, it started for a lot of consumers why. it could go higher? gerri: that's right, a problemed federal gas tax hike. guess how much? 65%. liz and dave, thanks for that. also on the show, where are you doing grocery shopping? consumer reports is here with best grocery list in america and why you should shop there. passenger groups are calling it a shakedown at the tsa. fees that won't be paying for actual security. and the gm recall scandal, new indications that ignition switch defect may affect other car brands as well. we begin tonight with a new proposal

supported by both sides in congress. democrats and republicans. to hike the federal gas tax by as i said, more than 65%. that's right. with conflict in iraq pushing oil prices higher and gas prices near record highs for this time of year, congress wants to squeeze you a little more. remember the gas tax is one of the biggest consumer taxes with more on this, diana with the manhattan institute. david nelson and senator john hogan from north dakota to join us. i will start with you, diane, what do you make of the tax? is it a good idea? >> well, it's better than the alternative which is letting the highway trust fund run out of money and stop spending on infrastructure july 31. it would be better to have a tax on vehicle miles driven. better to divulge the trust fund to the states and let them raise taxes. doesn't look like congress is

going to do either of those things. we have to have mechanism so drivers can pay for the roads that you want. gerri: david, do you agree? >> i do, we haven't raised the tax since 1993, over 20 years. the highway trust fund is close to insolvent at this point. a couple of other ideas floated for one time windfall. one is to have a tax holiday, that would be great. do it all. we need to do something and we need to do it now. david: senator john hogan is joining us now. senator, tell us what is your view on the tax. it has bipartisan support. you are not a supporter, why? >> well, i just don't think there is support in the congress or really with the public right now to raise the gas tax. we need a highway bill. we need to cover the shortfall in the trust fund. it's more likely you are going to see something like a change in the tax rate on dollars are repatriated back to united

states earnings that are parked overseas and also i think we could do a lot more with developing energy on federal lands with onshore and off, that would create revenue as well. gerri: i got to tell you, i hear the fact that the bridges are in bad shape, the road are in bad shape, not like we're paying only federal gas taxes. there are states sales taxes, take a look at the tax numbers. new york 50 cents a gallon. california, 48 cents a gallon. i'm feeling overloaded. why are you going to put another 65 cent gallon tax on top of that? >> the senator's proposal to use the tax holiday for infrastructure, i think is not a good one. drivers should pay for roads with the taxes that they pay on gas, and i agree we should have a tax holiday. we should have a permanent tax holiday on the corporate income

tax and eliminate it and make it territorial so a lot more funds come back to the united states. gerri: let's focus efforts on the gas tax. david, to you? i mentioned the other taxes, what do you have to say about the state taxes? all kinds of taxes? . >> a lot of bad taxes, gerri, this should be put into effect, and should also be indexed for inflation, this will go up over time. yeah, nobody likes to pay taxes and nobody likes to build the roads, this is one of the things we need to do. i agree with the senator, not likely to pass, everybody is shook up in the republican party by the eric cantor not being elected. everybody is pulling back, playing it safe and playing the prevent defense and it's not going to happen in the midterms. gerri: senator, to you, that was the thing about this proposal that set me off, this idea we're going to index it to inflation. let's face it, gas taxes are

one of the most volatile elements of the consumer price index. to me, that's like putting an incredible lever on the economy. prices go up, they go up more and gas prices are an input into almost anything in the economy, whether you are manufacturing goods, it hits consumers right in the wallet every single day. is it a particularly pernicious idea to index gas taxes to inflation? >> i think it is a concern, and you are going to have to have public support. i don't think the public support is there for a gas tax, and this issue of tying the revenue, you know, with the cost of maintaining the roads and repairing them, that's why i say, let's expand energy development on public lands, and get more revenue onshore and off. now you're tying the source of the revenue, energy development, to maintaining our roads and infrastructure, so there's the correlation that one of your panel members mentioned. gerri: very interesting. i might be willing to raise gas taxes if i could be guaranteed

the money would be spent for roads and bridges. we know that's not true. listen to the gao report. four agencies within the department of transportation obligated 78 billion dollars in moneys for purposes other than construction and maintenance of highways and bridges. you know, this is one of those things that doesn't work well. you give the money more money, they spend it, diane? >> absolutely true. so many things attached to the highway trust fund. the money goes uncle sam and back to the state. uncle sam says the states have to pay 15% on mass transit. project labor agreements which raise the price of labor, they have to use certain amounts on other things. at least when they get back they should use it on the roads. >> it makes the implementation of it -- >> and the tax dollars go a lot further. gerri: it's not done, senator,

should we do it? you say it's not likely we will, but do you agree with the panel that it's the right thing to do to raise gas taxes, 65%? >> i'm just not a fan of higher taxes. you can reform taxes, make them fairer and broader and get revenue from economic growth, and i think that's the better way to go. not a fan of raising faxes. we've got to get something done here, and i'm talking about something they think can get through the congress. gerri: well, do you have a solution at hand? other than oil on public land? >> i think that and the repatriation, there is growing support for repatriation and reducing the rate on earnings that are parked overseas, bringing the earnings back and that would help us fund a very good infrastructure bill for the next five years. >> enable us to fund a lot of different projects and definitely should be done. >> i agree with the panel, that's only a onetime hit. we take the one time windfall

in, what are you going to do as the years roll on? we need a graduated tax. gerri: go ahead, senator. >> that's why you bring in the second piece i was describing. again the revenues come from a growing economy, not higher taxes. gerri: one more point before we go, a fox news poll showed that the biggest concern people have about paying taxes, the way the government spends our money, 35%. we're all just a little concerned about that, senator, diana, david, thank you so much. >> thanks for having me. gerri: fighting the irs may have gotten harder. fox businesses senior washington correspondent peter barnes joins me with details from today's supreme court ruling. peter? >> the supreme court raised the bar for taxpayers who want to challenge a summons from the irs in court. the issue here is when does a taxpayer have a right to question the irs and irs agents about their reasons for issuing

a summons when they want to gather more information in a tax dispute? the court ruled today that taxpayers cannot just make allegations about the agency's motivations, rather the court said that taxpayers must cite specific facts or circumstances that, quote, plausibly supports suspected bad faith on the part of the agency. it said quote, naked allegations of improper purpose are not enough. the taxpayer must offer some credible evidence supporting his charge. now this case was about a florida man, michael clark, who accused the irs of issuing a summons against him and business partners for resisting audit. they alleged harassment by the irs when they did not agree to a third extension of an audit. they already agreed to two extensions, they just didn't agree to a third one when the thing was dragging out. clark and partners wanted to question irs agents about the

motives. the district court denied request saying charge of harassment was conjecture and they had no evidence to support the charge. so it issued, allowed the summons to be enforced. federal appeals court overruled that, overturned that, but the high court today siding with the district courts, gerri. gerri: peter, do you think this is reasonable? or negative for taxpayers? >> it reinforces the right of taxpayers to challenge the summons, and at a minimum, perhaps the silver lining here is that the court's ruling, the high court's ruling will give taxpayers a better road map for challenging a summons from the irs, and could make it harder for the irs to get a summons because typically judges rubber stamp these requests for the irs, the court orders to enforce a summons, but the high court said, listen, the lower courts have to have after evidentiary hearing when the irs asks it for a summons, and

said that taxpayers can actually use circumstantial evidence when they go into challenge a summons because it said quote, after all, direct evidence of another person's bad faith will rarely if ever be available early in a tax case. so it's a road map that may allow more taxpayers to challenge the irs, that's the -- that's what the defendant's attorneys argue. gerri: is there any next steps, what's the takeaway for taxpayers? >> this court, the district court level, clark and his partners, the court, the case never proceeded because of question about the summons, now all the way back up to the supreme court, which sent it back down to the lower court. so that court case will proceed. we'll watch it to see if they win or lose. gerri: we're cheering for the taxpayer, peter. thanks for that. >> thanks.

gerri: still a lot more to come this hour, including your voice. during the show, facebook me or tweet me at gerri willis fbn. do you like a 65% increase in the federal gas tax? at the bottom of the hour i'll read your comment. coming up, what's your go to grocery store, consumer reports shares the best grocery stores ranked by you.

when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. [ male announcer ] the mercedeis here.ummer event now get the unmistakable thrill... and the incredible rush... of the mercedes-benz you've always wanted. ♪

but you better get here fast... [ daughter ] yay, daddy's here! here you go, honey. thank you. [ male announcer ] ...because a good thing like this... phew! [ male announcer ] ...won't last forever. see your authorized dealer for an incredible offer on the exhilarating c250 sport sedan. but hurry, offers end soon. share your summer moments in your mercedes-benz with us. i'm j-e-f-f and i have copd. i'm l-i-s-a and i have copd, but i don't want my breathing problems to get in the way of hosting my book club. that's why i asked my doctor about b-r-e-o. once-daily breo ellipta helps increase airflow from the lungs for a full 24 hours. and breo helps reduce symptom flare-ups that last several days and require oral steroids, antibiotics, or hospital stay. breo is not for asthma. breo contains a type of medicine that increases risk of death in people with asthma. it is not known if this risk is increased in copd. breo won't replace rescue inhalers for sudden copd

symptoms and should not be used more than once a day. breo may increase your risk of pneumonia, thrush, osteoporosis, and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking breo. ask your doctor about b-r-e-o for copd. first prescription free at mybreo.com . gerri: welcome back. do you have a favorite supermarket? i bet you do! i know i do! hear what the list from the readers of consumer report todd marks is going to tell us who the best grocery stores are in the survey. tell us what you found in the survey? >> the interesting thing with the survey, we surveyed hundreds of thousands of customers about their experience. we rated 55 chains on the hours, cleanliness, competitive prices, freshness of the food,

service. only six chains out of 55 earned exemplary marks for quality of its perishables. the vegetables, the fruit, the meat, the poultry, it's astounding! >> tell us who the winners were? who were the best scorers? >> interested in food and food alone, the top six were whole foods with most of us are familiar with them. they have 370 stores nationwide. great stores except for price. if you're paying the high gas tax, you have to watch pennies at supermarket. whole foods had one of the worst pricing hierarchies of any chain in the survey. gerri: wegman's is an important chain. >> mostly in the east, a lot in new york. only about 83 stores, but they are the top supermarket overall in the country. the model of excellence in terms of everything they do. now a newcomer made our list called sprouts farmer's market, they're in the west. they have about 160 stores.

exemplary scores for service, price, cleanliness, and if you're into produce, sprouts stood head and shoulders at the top. and publix, another perennial powerhouse in the south, over 1,000 stores. if you have a chance to shop at a publix, take it. they are at or near the top for years. gerri: they also have rallies? >> they are on the west coast, too. at the top of the ratings in terms of the perishables, service, and prices are so-so. but tremendous, and costco. ever-present costco, people like to make fun of them. we make jokes about them. they score well in almost everything we rate them on. they had exceptional quality of perishables. people think of them as the big five pound of tuna fish and the giant jug of mayonnaise, if you're looking for fruits and vegetables, you can't beat them and prices are superb.

gerri: fantastic list, interesting to see what people like. i have to tell you, when i say this is my favorite grocery store, i have problems with them. why is it so hard to find the best, the perfect store? >> the perfect store really is elusive, shall we say. stores that offer exemplary quality, high service, and great quality. it costs money! invariably, they have an extreme position. on the other hand, chains that tend to have a great price structure tend to not be so good when it comes to the quality of meat, fish, seafood. a delicate balance. you look at a store like wegmans and publix, publix is so-so with prices and look at costco, it really is very good. whole foods was the only exception to the rule, where you had superb quality, but horrible prices. so we're getting closer. getting closer. gerri: i know a lot of people call that whole paycheck, not

whole foods. that's the reality of that. what do people think is more important? people are focused on quality or prices right now is. >> depends on the shopper you are. price is important, and quality is, too. new markets specializing in natural, organic and whole foods and whole-type grains is really up the bar in performance. we see a lot of fresh markets coming to the landscape which is a win-win for consumers, we're getting away from the awful packaged goods that we shouldn't be eating for the most part and moving toward a fresh model, when have you good chains upping their game and coming onto the market at such a high level, it forces other players to either up their own game or perish, it's good for everybody. gerri: and a final quick question here, a lot of grocery stores are putting in almost a restaurant. is this the way to boost margins in an industry that historically had narrow

margins? >> eating out is no longer a treat. part and parcel of lifestyle. restaurants want to get their share of stomach, and instead of having people go to places like red lobster and olive garden, the casual restaurants which are not doing well, and as a tradeup from fast food which is doing well. come to us. we will give you tremendous quality at restaurant quality food at supermarket prices and people are paying attention to that. gerri: todd, one of the smartest people i know on grocery stores, thanks for coming in. >> take care. gerri: you as well. we want to know what you think? are you loyal? are you loyal to your supermarket chain? log onto gerri willis.com, i'll share the results at the end of tonight's show. more to come, how the tsa is trying to sneak in more fees into next airline ticket. and next, kids aren't off the hook for parents' debt. we answer the question, how do you deal with krt creditors

who are knock on your parents' door when your parents die? stay with us. (mother vo) when i was pregnant

...i got lots of advice, but i needed information i could trust. unitedhealthcare's innovative, simple program helps moms stay on track with their doctors to get the right care and guidance. (anncr vo) that's health in numbers. unitedhealthcare.

. gerri: well, the death of a parent is a traumatic and stressful time for anyone, and learning that your mom and dad might have left behind a debt adds more stress to the situation. is it possible to inherit your deceased parents' debts? joining me personal finance expert, vera gibbons. welcome to the show. the big question first. might i be responsible for my parents' debt? >> the short answer is generally speaking no. you are not personally liable

for the debts. good question, because a lot of parents leave the adult children with all sorts of problem, and adult children think they are responsible but in many cases and most cases they are not. gerri: but there are exceptions. >> there are, if you cosign, if you're a guarantor, depends what debt we are talking about, and state matters make the matters complex. people get calls from creditors and end up writing a big check, which is a big mistake. gerri: there is a lot of money out, there washing through the system. you may feel you owe part of that. walk one by one on the debt you're going to see. for example, credit card debt? >> credit card debt, you are not responsible for this. you know, you shouldn't be responsible at all unless you cosigned, unless have you account together. gerri: don't be co-signing. >> out of the estate, it's coming out of the estate. have you state taxes, administrative fees for

handling account, have you other things that come first. not a priority. if your parent dies and leaves $25,000. $25,000 it is. that's not your problem. gerri: medical costs, what about mortgages? >> medical costs are complicated. here's the thing, if you have unpaid hospital bills or nursing home bills, that's going to come out of estate more often than not. the estate will be responsible. some states you are personally liable, so you want to check state laws. medicaid is more confusing. gerri: you could be responsible, medicaid could come after your family for debts that they paid out to mom and dad over time. >> it could be back to the time when your parent was 55 right up to the time they died. some cases the executor of the estate can negotiate, but in other cases they may go after your parents' house. gerri: let's talk about the right way to do this. the question a lot of people

ask themselves tonight is what should i be doing prepare for this? let's not talk about afterwards what to do, can we fix this before it happens? >> the preventive medicine is best, try to lose ten pounds rather than deal with the weight later. so i think you need to sit and have a conversation while they are healthy, while they have their mind, right, they're sound. you want to sit down and talk with them. do you have outstanding debts, are we on loans together. do we have obligations that we're in this together others proper estate planning is important. you have to go through the process together. trusts, wills, the whole nine yards, gifting might work for the situation. if you're in a position where the creditors are calling you and knocking on the door, you may panic and pay out of pocket, you don't have to. gerri: a tough situation, a

tough topic. appreciate it. later, the supreme court is deciding what to do with aereo? you know that company, right? how their decision could change the way you watch your favorite tv shows forever. next, it may not just be gm. new indications that the ignition switch defect may affect other car brands as well. details after the break. so i can reach ally bank 24/7 but there are no branches? 24/7 i'm sorry- i'm just really reluctant to try new things. really? what's wrong with trying new things? you feel that in your muscles? yeah...i do... drink water. it's a long story. well, not having branches lets us give you great rates and service. i'd like that. experience a new way to bank where no branches = great rates. ally bank. your money needs an ally.

gerri: general motors big fix may not really follow-- solve the problem with ignition switches that lead to stalls. we are live in chicago with more on why you may still be at risk on a row tonight. jeff, what do you have to say? >> i will tell you when you look at with jamie and has to say there really is

conflict and questions. take a look at what gm says on its own website about the ignition recalls. there is a frequently asked questions section and it says, are the recalled cars say to drive if they been repaired? the civil answer to the question says gm on the website is if you use only the ignition key the vehicle is it to drive. later on the bears a website take a look at what they say also. but, even after the fix we recommend customers only use the key, the key ring and the keep bob. wait a minute, is it safe to drive if you haven't fix them if you only use the key, but after we fix them only is the key. mary barra was pressed on it yesterday and for the first time she said that a lot of insiders have been saying to reporters confidentially and that is this may not be just our problem. it may be an industrywide problem and now they are invested in chrysler vehicles and that is interesting also because

chrysler was the one that invented this thing we call the ignition key back in the late 1940s. until then there was what we now think of as a new invention that is pushbutton start. that was invented a long time ago and that was pretty much standard procedure dating back to the 1919 roughly. take a look the history. this all started, the ignition pushbutton ignition started with how to lack 19, actually 1908, was cadillac and back in the day there was a handcrank start on the cadillac and a kickback and killed him and henry lee said to his staff back then echoes of mary barra, perhaps, the cadillac car will quilt no mormon if we can help it. he essentially commission people to try to find a new way of starting vehicles. gerri: let me ask you a

couple questions. i'm full of questions tonight about this. what it sounds like to me is these cars are really fixed. i mean, sure it may apply to lots of different producers and manufacturers out there, but the cars aren't fixed. we are doing things in changing the keys in some cases and the ignition switch, but if you today we could still have problems out there. reporter: i would urge anyone who has ignition key to get in their car and fool around with it, see if it turns-- if it easily turns the car off. we are talking about the detent of a switch which essentially means how much torque it takes to turn it. you don't have too much so you can get the car started, but you also don't want it to pop out of run because if it does you lose power brakes and power steering and you lose your airbag. that could really happen, we are finding on a lot of different cars, not just gm cars.

gerri: you mention pushbutton, right? are we all going to go to that? will that be safer for people? reporter: it's surprising to me, but actually most cars now either have a standard operating equipment or as an option pushbutton start. yet, as you know you have to have your foot on the brake we started and if you bump the pushbutton when you're driving it doesn't turn your car off immediately like the key could, so this is iconic. the car keys, the ignition key is pretty much an iconic american worldwide phenomenon, but it may be going away. gerri: we may go back to the future. jeff, thank you so much. great reporting on this important story. >> thank you. gerri: well, from cars to planes, under a new tsa rule passengers will start paying more for tsa security as soon as next month. you know what that means. or fees tacked onto your

airline ticket, so will these added fees are in? joining me now travel expert mark murphy. what in the heck are they proposing here? how are they going to get into my pocket again? >> at the end of the year last year congress pass this and they were going to take the fees up to 250 for a nonstop flight or $5.60 per segment and so that has artie past and is getting instituted. the hubbub now is to want to change definition of a connecting flight, so now with a connecting flight they can hit you twice as long as there is a four hour layover when you are traveling. that it becomes to separate flights and now you are paying $11.20 and if you start looking at multiple flight over the course of a week or a few days for a traveler it could be four times with the fee would have been under the old rules. gerri: this whole show is been about higher taxes practically tonight. we keep talking about it.

we were talking about the federal gas tax at the top of the show, but this is different because it's almost like taxation without representation. how can they get away with just boosting fees? >> what stings is the travel industry gets unduly harmed by taxes, which means the economy gets harmed because of taxes because of the people who are getting tax are coming from outsize areas. someone from texas goes to new york and stays in a new york-- texas hotel they paid taxes that the local people in the local politicians and the taxing authorities put in place. now, there is no representation and there's nothing they can do in the both those people doubt so travelers are an easy target. carvers and politicians have to understand that the economic engine in this country and very much the world is driven by the travel industry. air travel, the way things get from .8 to point b, transportation of all kinds impacts restaurants, taxis and billions of additional

tax revenues generated. they are bending over to pick up the pennies and penalizing the industry when billions of dollars are being impacted, jobs are being impacted. gerri: you are saying bending over to pick up the pennies and when people see numbers like $2.50 and $5 folks are going to say, jerry is not that much. but, look at this, the proposed fees alone would generate almost $17 billion. now, why do we need to-- what are we going to get that money? >> we are saying that there will protect us as we fly and therefore they need it, but when you look at the number of fires and you reflect that against the tsa budget and you think-- forget about keeping up with billing growth it has far outpaced. it's like when someone says they're tried to keep up with inflation yet raising cost 20% a year. its way out of whack with

what needs to happen. most companies try to find efficiencies. why is it always that raising taxes? when will we hear from a government official that they will cut costs in order to close the deficit? gerri: it never happens that we. thank you. now, we want to hear from your. here's what some of your tweeting me about. our poll question, are you loyal to your supermarket chain? susan tweet this i am loyal to the public's chain. it is the best supermarket in south florida. michael tweets of this we shop cosco and sam club steered bill, i go to walmart. one-stop shopping. bill rights always cosco first and then fresh and easy. key outpost i inlaid on a budget and i go where ever there are sales. that sounds for. here are some e-mails. gene off saying i'm loyal to

several markets for particular products. , from georgia writes on yesterday's poll question, would you let your son or daughter drive a gm car he writes i would not buy a gm car and would not want my grown kids to owner driver. on the same topic, john for maryland says i have a new acronym for gm, the great mistake. i love hearing from you, send me an e-mail. go to gerri willis.com. next, how the supreme court could turn the tv industry on its head and here's your consumer gauge, the s&p 500 is up 6% for the year. good news, we will all retire someday, my friend. we will be right back. common ki. ...it's not caused by a heart valve problem. dad, isays your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)...

...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa.

gerri: welcome back. one-stop company, one small company could change the way you watch her favorite tv shows forever. the supreme court poised to rule on the case of aereo

versus the big broadcasters. we are covering all sides of the case including what it means for you with attorney richard roth. i think we do a little backup your. a backfill because not everyone knows what aereo is an i have to admit to subscribing to it because it's easy, but it's a way to get local tv service without paying much were carried. >> that's correct. a little company that records and streams signals from local broadcasters on the internet using these little mini antennas, remote antennas and it allows someone to pay $8 or $12 month for a array of programming. gerri: but it's the local affiliates, you don't get everything and this graphic here gloomy we. that was the size of the antenna next to a dime. they are teeny tiny. aereo is teeny tiny, but if they succeed what happens? they get really big fast, right? >> it could very well-- it's a game changer for the major networks.

the nfl, for example, so the nfl 34 of the last 35 most-watched shows in the fall were nfl football games. they make billions of dollars from fox, nbc, cbs and it will revolutionize that because now you can go online and watch-- gerri: forty-eight to $12 month. >> try to get a game online 3d can do it. it's a game changer. gerri: what i think is interesting also is that there is now this interesting sort of division with some of the company's entertainment trade on one side the aereo friends and pals and on the other side that infringed networks. let's look at aereo partnership, apple, windows, what does that tell you about how companies are lining up? >> it's no different than when the mp three came. you have these recording that said i better get on an itunes type of program because that's how i will make money. what the programs may do is have their own aereo.

it is very interesting how the companies don't know what to do. the supreme court decision will have up to mend his impact. gerri: one issue here that people don't talk about when they talk about aereo is the cable industry has done itself no favors. they are not at the top of list for favorite companies work consumers who consistently rank them low and that's because their prices go up all the time. so, 53% of people say they would leave cable if they could. do you think that will play a big role in this debate going forward? >> it will play a big role in the social and public debate. before the supreme court it won't because there's a particular issue before the supreme court. whether it is eight public or private viewing. gerri: what does that mean? >> if it is a private viewing and you are watching in your home then you have the right to use aereo. the abc and all the affiliates and networks say that is nonsense. they are retransmitting our

shows, don't let them do that. gerri: let me get you to answer that question directly because i think it's critical. at the bid were-- networks are saying is you are stealing our content and not paying for it and it's unfair should not be allowed to read what do say? >> it's copyright infringement three is a tough call. if in fact they are stealing the content and the networks are paying those these i'm a witch aereo need not pay than they are infringing on the copyright. i will say the supreme court was very hard on aereo during the argument three tough questions. there is a chance that if that networks when aereo could disappear. so, there is a chance that the supreme court does uphold this copyright protection, but it's a tough call. gerri: i will make you make the call, though. who wins? >> i will say go with the networks. i go with the networks because i believe what they will conclude is that this

is copyright and to take-- even though there is a claim that its mini antennas and the network claimant is a farce that actually the copyright laws are there to protect individuals and companies and i think the supreme court will overrule the second circuit and allow the networks to continue to do what they're doing. gerri: interesting. we will know soon, right? >> we will know monday. we should have known today, but monday we should know. gerri: still to come, my 2 cents more and is insider trading running rabbit behind closed doors? the author of a new study that is pulling back the curtain on the startling number of insider trades. you will want to hear this.

gerri: when it comes to

insider trading yet seen the headlines. like billionaire rajat gupta , you can see him here, the self-made hedge fund tycoon convicted in one of all streets because insider trading scandal or, steve: he ranked in over $270 million in profits over illegal trading on an-- $600 million settlement received final approval yesterday. but, what about the stories you don't hear? wasn't never get caught. the assistant professor of finance has a startling new study out on this. looking at how widespread insider trading is in the industry. patrick, welcome to the show. answer that question. how pervasive is this problem? >> hello. thank you for inviting me. it's almost close to impossible to talk about how me companies are involved in insider-trading. what we did is simply with into the data and looked at the activity. it was a specific context

already and within that context it was a small experiment because options provide useful information and rich information in stock prices and also mrnas are supposedly unexpected events. so, we know what should be private information and we know what happens on an announcement date. gerri: so, you basically looked at stock prices and options activity, so you can't say for sure that this was insider-trading. but, you are looking suspicious activity as a regulator might and you found from what i understand is that nearly a quarter of deals have this kind of unusual trading activity. were you surprised by those results? >> we looked at various dimensions of options trading. we looked at volume, prices, liquidity to read one aspect was the option trading volume and they found that there's typically in one of

the cases there seems to be abnormal trading volume, abnormal meaning relative to some past average. we know where certain insider-trading from the past, from the financial press, so here we see unusual activity going on to read we were also surprised to see from a statistical perspective if the evidence is quite strong. gerri: quite strong evidence. a lot, that is what surprised me. what would you say given all the information you have gathered and it's quite expensive, how many of these people go completely undetected under the radar and are never prosecuted? >> again, it is something speculative. within our study we did is we are interested in looking at the litigation reports that are publicly available

on the fec webpage and among those cases again we found a specific context and there was about 8000 reports and we filtered through those that involve option trading and in particular option trading and in many cases. gerri: patrick, some people maintain that insider trading is a victimless crime and no one gets hurt. after all people are always trading, making bets on information that they feel is something that only they know. do you agree with that point of you? >> i don't think i can take a stand on this. it's out of my field of study. i don't want to take a stand. gerri: understood. but, when you look at this are you surprised there aren't more prosecutions in this arena? >> what we find is that there are relatively few number of cases compared to

the strong statistical evidence. however, very might be eight reasonable explanation for that. again, i am speculating, but one reason might be that only civil litigations and criminal litigations that would show up there. because a whistleblower protection concerns and other reasons are if you have a limited budget, you have two in a way be conscious about what the cost of prosecuting a case is and if the odds are likely you will waste a lot of money that could be another reason. i am saying i'm speculating. there are just a few that could potentially explain-- gerri: why there are still a few cases brought. patrick, thank you for coming on television and telling us about your study. thank you. >> thank you for inviting me. gerri: we will be right back.

i ys say be thman with the plan

but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron.

starts at 6:30 a.m. - on the (vo) rush hounose.und here but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours.

. >> are you loyal to your supermarket chain? that was our question tonight. we got nothing left in the show. charles payne is next. that's "the willis report." . charles: tonight on "making money" -- i know we're afraid of the federal government, the end of the day, earnings moved stocks. we'll talk investing 101. now they didn't live up to the hype a decade ago, fuel cell stocks act like they want to take off. another lesson in investing, a second chance from the investment graveyard. from unstoppable to death watch, can they come back? i bragged about my track record and i gave you target resources, the stock topped into the close. while i am, call your friends and family and let's go make some money!