tv MONEY With Melissa Francis FOX Business August 19, 2014 2:00pm-3:01pm EDT
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melissa: the impact on a crisis in ferguson, missouri, and the wage trade movement to take into a whole level. growing support for $13 per our and one step as it is taking to get there. and putting principles against the love of a bargain. the nfl wants rihanna, call play and others to pay to play in the super bowl. because even when they say this not, it is always about money. the housing recovery is on the upswing and sores are stocks are soaring. while he fed mold the future of economic policy, july house and start giving reason for optimism
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reaching the highest rate since november we had here to discuss all of that, charlie gasparino. with tom sullivan as well. what do you think of that? >> i don't think it is an indicator housing is doing better, i think it is just the opposite. people are going i cannot sell my house, 20% of the people are still underwater, saying we might as well fix up the kitch kitchen. >> i agree. melissa: what about home construction? >> things are getting better, they couldn't get any worse from where it wasn't 2008, 2009. melissa: that is new homes. >> but we are not anywhere close to the levels we were in the past. still a lot of inventory of housing out there in florida and places like that where you have the housing. and i could never understand why people thought home depot doing better meant housing was
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improving. >> i would look for more improvement in multi family housing and commercial construction rather than single-family housing. home depot we did a cover story in april up 14%. a lot of earnings. >> why is there a lot of upside? >> they're highly leveraged to housing. they made improvement now that we're at the good years. >> it is not a complete positive indicator. >> when you look at the permits, out of the permits, only 1% of the permits for single family homes, rest for multi family. they are building for renters. melissa: i'm glad we let you get that in there, tom. getting vocal about his clash with family dollar, charlie you spoke to him and he broke the news. >> carl is saying mr. levine.
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julie made the call. i would say if you talk to carl icahn, we would love to get mr. levine side of the story, carl icahn would say howard levine is the epitome of what is wrong wi america. he thinks he owns the company when the shareholders on the company he was the ceo of a company his father created, so he has some sort of god-given right to run this place and he believes he is running it into the ground. he made an interesting point to me and we tweeted this out, i wrote a story about this today, he wanted them to sell to dollar general, right? instead he got a lower deal with dollar tree be at according to karl he did that because he could keep his job. what did he do to ensure keeping his job? there is a breakup fee in the dollar tree-family dollar deal of $300 million so it will cost shareholders $300 million for
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them to entertain what is a higher deal. >> i'm glad you got carl icahn to come out of his shell and say what is on his mind. melissa: you're welcome to come on with or without charlie. i am not sure i am a part of that. high-frequency trading to becoming to education. one business school can be teaching the math behind the controversial strategy. i think they are talking about the funds where when oil goes up, the algorithm to go trade. >> i hate everything about this. we are siphoning off chemistry, physics, sending them to wall street to try to sliver pennies from rich people. melissa: this is much smarter. i think that is what we are talking about, computers to go fetch money.
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>> for the big brains to go and make money. you have to do something usable with your life. sitting in the art room creating programs for the rich. >> my old man was a bartender. rich people leave the best tips. >> they do. you still need finance majors, not math majors because most people don't deal with algorithms buying or selling general motors. melissa: they are not sitting in a dark realm, they are writing formulas and they do philanthropic things after they spend it. what is wrong with making money? >> with all due respect, we have plenty of engineers, that is not the problem, the problem is --
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we could use more schoolteachers that understand engineering, that is the real problem. i don't have is a problem with people trying to write code or engineers, they are doing jobs, most of them are going to tack rather than wall street. why aren't we getting smart people who wants to be schoolteachers? >> because of the pay be at play more than a math major. melissa: what is wrong with writing code to make money on wall street? >> there is nothing wrong with an individual doing it but we don't need a higher percentage of people competing for that. melissa: according to who? i rather see people going to silicon valley. >> facebook, i look at my old girlfriend's picture.
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melissa: let's move onto another one, san diego becoming the latest major city to raise the minimum wage, overwriting a veto from the mayor and pass an increased 50 per hour. go, jack. >> there is a discussion to be had of how high is too high? in general the minimum wage has fallen behind. i like when people change the indexed to inflation so we don't have to have these ad hoc arguments. >> who is the government to tell me on how much i will pay my employees? about this many people are on minimum wage other than afflue affluent. >> the economics are really bad. when you raise the minimum wage. >> we have done pretty well. melissa: walmart and target gearing up for holiday battle
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with online retailers announcing it will snap all of the registers with actual human beings. for the half of the u.s. stores will stay open until midnight. have you ever been to walmart with the line out the door? 20 that are closed, nobody there. people get mad about that, so they will put humans in the store. >> you don't want to feel like you're being punished when it is time to check out. >> i have only been to walmart once. melissa: have you ever been to walmart? >> once. melissa: former campaign manager and white house advisor to president obama will take a position with huber next month as a senior vice president of policy and strategy. i don't know what the job entails, but it sounds like. can you roll back a little bit?
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isn't it going down, down, down? vice presidenvice president of d something else. >> that means he will be a lobbyist for uber. is an uber we circumvented government for so long and the establishment like the cap unions? melissa: they unions hate uber. >> this shows you how hypocritical most of the limousine liberals are. they will campaign for the little guy, but take a lot of money from goldman sachs and uber. melissa: i love that you took all that. >> this is a lobbyist for municipalities. he will be dialing for dollars to every mayor in this country. let our cars in there. what else is he going to do? melissa: have to give charlie a chance to glow.
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meritorious fannie pack by wearing one of his phon owing te astros game. some people in line gave him a little bit of a hard time for carrying a fannie pack. now why don't you just get a purse? >> i think the fannie pack is the best invention since the umbrella. you can put all of yourself. melissa: he thinks it is like less. what a great idea. >> do they make a fannie pack? that is what i want to know. melissa: i think you're better off with the plain version. thank you. microsoft hired a party like it
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is 9099. why internet explorer could be headed for the scrapheap. and the basketball season may be months away, but his yelling is already in midseason form. a run for your money up next. 3rd and 3. 58 seconds on the clock, what am i thinking about? foreign markets. asian debt that recognizes the shift in the global economy. you know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. if you convert 4-quarter p/e of the s&p 500, its yield is doing a lot better... if you've had to become your own investment expert, maybe it's time for bny mellon, a different kind of wealth manager ...and black swans are unpredictable.
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melissa: protest in progress and misery escalating even after the arrival of the national guard reports of police under fire. being targeted by molotov cocktails. fox news on the ground in ferguson. what is the latest? >> the latest is really a recap of last night. you look at what happened, this is a pattern. at night they get more aggressive. they get hurled at police, that gave way to clashes, rubber bullets fired, and live gunfire coming not from the police but coming from agitators who were in the crowd.
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overall new arrests numbers, 78 people arrested last night mostly for failure to disperse. of those people arrested, only four were from ferguson. almost all of them were from outside speaking to the notion of outside agitators coming in here. i want to do you what happens during the day. a small group of demonstrators, usually a nice, peaceful demonstrations throughout the day. police require they keep moving as they come out here to demonstrate. they have to keep marching. getting to nic nightfall, when t gets dark you will see them get more aggressive and will give way to clashes. melissa: be careful, thank you for that report. as a ferguson issue gets worse, they're taking a serious hit, or
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than two dozen stores impacted by the protesters, one gas station was burned to the grou ground. how will this affect the local economy to the long run? steve moore joins me now. thomas sullivan is back as well. the matter what you think of this situation and how it happened, who is to blame, you have to feel for when you ca store get looted and ripped apart, think of soaking every hour of their being and penny of their life savings into that store that is now destroyed. >> what is really discouraging is a lot of these stores being looted, this is just thievery, these are owned i minorities, latinos, asians and also blacks, so they are stealing from people in their own neighborhoods. doesn't make any sense. the other thing i would toss out with the effect of the protests and some of the violence, the question have to ask is how
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combustible our other american cities right now? i take this back to the economy. there are no jobs. melissa: you were a highway patrol officer, i don't think rioting, but how combustible the thing other cities are? >> they can bus pretty easily. i was a college student at the time it highway patrolman so i saw the students agitated on campus and the police had to put our helmets on and take the wristwatches off and there is a buildup to the point the adrenaline is flowing so high on both sides by the time they get together there is an explosion, but i will tell you if i was an insurance company and you called me up and said i wanted to ensure my business next year, my
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grocery store in ferguson i would say your rate will be about 10 times higher. >> i think the dangers of those kind of loot and stealing and throwing rocks through a window increases in a lot of major cities. melissa: paying farmers to get rid of vegetables. sort of a response to in europe if russia is not going to buy the different foods, they don't want him to be in the markets because it will depress the price of foods and vegetables to they will destroy it and pay farmers for that. there are starving people around the world, is this the best way to combat this? what do you think? >> i don't think there is a distribution in place around the world. this will put a crimp on the economy in europe but not on us.
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position as an owner of the nba l.a. clippers. let's go to ashley webster on the floor the new york stock exchange. we're going to look at the stocks up 77 points on the dow. the unlikely pitch man becoming bigger than the slap chop, looking for a little help with his fashion, perhaps he should don shorts. and it turns out americans are more honest than ever, but do you believe me? do you ever have too much money?
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melissa: a long time breakfast faithful losing its flavor due to shifting tastes. following to record low, you can bet commodity traders are watching this one closely. at the cme, with more on this one. i was so surprised when i saw this report, americans have given up on orange juice, how come? >> it is a trend they can't the forefront about two years ago, health-conscious america. low calorie, no calorie, as well a lot of the market share going to sports drinks, energy drinks that is taking a hit on the orange juice. melissa: what does it mean for traders going forward, do you think it is a long-term trend? >> this a trend that could be here to stay. this is the lowest crop in 50 years, so it is offset a lot of low sales, silly prices have stabilized although they are
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lower, the lowest parts of the year, the price has stabilized, less crops than usual, that could be a trend to start. melissa: appreciate your time. results are in, america is more honest than ever. honesty taken to the streets of new york city for the fifth annual honesty index and the uplifting and out of the day, we has a nation are more honest than we were last year. hard to believe. seth goldman jointing now, one of my favorite guests. thank you so much for joining us. what was the funniest thing you saw happen this year? last year you had great stories of somebody stole a bicycle while they stole the tv. how can i forget that? what happened this year? >> we actually set up an online way to do it, created a trust pac where people could download content and would get a coupon,
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we wanted to see if people's online behavior was the same as when they were physically interacting with our experiment. online is as private, nobody is watching, but the results were almost exactly the same, 95% of people did what they said they were going to do. melissa: in case people don't know, what you do is you lay out a whole bunch of delicious honesty and say we have a dollar, you can have a bottle of teeth and there is nobody around watching so people could really feel it. women proved to be more honest than men, blondes we most honest hair color. did it matter if they were a natural blonde or a fake blonde? >> we can't test that, so you have to go with what we can observe. melissa: people with the black hair were the least honest. >> i think i won't touch it.
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melissa: this is genius on your part because you take your brand and what it stands for and done something very creative getting a lot of attention, what do you guys get out of this every year? >> we have this direct and honest connection to our ingredients, we wanted to share the relationship with consumers and let them interact and see whether or not they embody the same values. it is the chance to interact with our brand and a really positive way to send a message. we are just presenting the fac facts. the positive to see how much more honest people are than people expect them to be. melissa: except in rhode island. okay, would like to see that. >> they were reall the low perfr last year and did well this year, so that was good to see. melissa: thank you.
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don't you love them? sure they are cute and all but they are costing you an arm and a leg. what exactly are they getting for all that cash? and call it the uber oops. get into the right ride before hitting the road. piles of money coming up. ♪ ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade.
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melissa: really picking up steam right here, all the major indices sitting at session highs, the dow trading higher by 88 points about half a percentage point, same for the s&p, the nasdaq and the less. utilities and consumer discretionary's really leading the way. a good day. home depot helping drive the dow gains along with data on the
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housing market and consumer prices as well. spent rolling out less expensive pricing options while mixing the plan for family and friends pl plan. here is the author of creative capital. back with us as well, they spend a lot of the commercials, they have celebrities, but they are failing on the idea. >> they have a new ceo, he is hitting the ground running. the problem though is when he took over control with softbank he thought he would disrupt the industry but t-mobile did it, got rid of contracts, got rid of subsidies and now sprint is playing catch-up and will have to, but more creative ideas. they are cutting prices great for consumers but bad for sprint online. >> the only idea is cutting prices. there has been a bit of a price
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war going on, the only one that is in a strong position right now is verizon because there are measurable differences in quality in the network. melissa: people really hear that and believe that. microsoft trying to sit at the cool kids table yet again. considering changing name of internet explorer to reshape the image. maybe changing it to internet explorer. >> they should change their name to google chrome. melissa: it is amazing. look at the percentages, google chrome is a browser leader at 45% of the market share, internet explorer has dropped to 21%. >> i hope when they read the story or here this, this is a kind of thing not trying to promote. trying to get microsoft back to great products.
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new brands are not going to get people to use you, great products will be at i remember when i started using chrome because it was a better product. it looks better, that is what they have to get back to. melissa: in the age of everybody's private driver, it is turning out a lot of folks accidentally hopping into strangers cars leaving it is uber or lyft. you look at the tweets, they are hysterical be had a random dude tried to get into my car. the second time. are you lyft? oh my god, you are not. the brand a moment try to get into my car as i was parking. have you tried to get into a stranger's car? >> not recently, but i can see it happening. they are really taking off like wildfire. next time i am locking the doors
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to my car. >> an suv problem. i had a minivan. melissa: you drive a minivan? you are like a hugger. >> i only had the kids to get a minivan. melissa: do you have a penny pack or have you switched to a purse? >> i am in the market. melissa: no secret we're we are spending too much time on our phones but a new app is pinpointing exactly how much. this is terrifying. download this app and it shouts out to you crossing 20 minutes, 40 minutes, 60 minutes if you're reading your e-mail or texting or whatever it is you are doing. this is like when they put the calorie counts at dunkin' donuts be a you should know, but you really don't want to. >> if you are sending two hours,
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three hours on your phone, -- melissa: i think you are. let's download the app. if you stop using your phone, the kind of person who has no life on your phone doing facebook for four hours, what will you do with your time, just sit there? melissa: breathing the air, walking down the street with your head up. there are a lot of things we were doing and it hasn't been that long. >> i have an iphone, it is too small for me to get addicted to. >> i think you are in denial, if you got this app, it might be a rude awakening. >> it is ironic you need a smart phone app to cut down on the fact you are using your smart phone. melissa: coming up, too stressed to leave the office. the fear of replacement has many americans too scared to take time off.
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and the clippers, the priceless reaction from the players meeting their sort of eccentric new boss. you have to see their faces reacting to him. at the end of the day it is all about "money." >> we made lemonade out of billions and still won 57 games last year! she inspires you. no question about that. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use
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melissa: i am melissa francis with your fox business brief. apple shares at record territory hitting $100 for the first time since the stock split in june. the stock really means it is very close to all-time highs. that level reached in late september of 2012. mcdonald's says package coffee will be available in supermarkets everywhere. manufacturing the ground and all beings shipped out to stores. it will be available in single cap pods as well. google unloading youtube music key allowing subscribers to watch videos nonstop. off-line listening will be an option. that is the latest from the fox business network giving you the power to prosper.
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and startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. thanks to startup ny, businesses can operate tax free for 10 years. no property tax. no business tax. and no sales tax. which means more growth for your business, and more jobs. it's not just business as usual. see how new york can help your business grow, at startup.ny.gov melissa: when he shoots he shouts. kicking of the tenure with the los angeles clippers and it was a nice, calm kind of affair like you would expect. >> boom, baby! do we have any clippers fans here? i can't hear you! we are going to be hard-core. hard-core. hard-core!
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do you watch these guys? that was hard-core! hard-core, baby. melissa: they are going to be hard-core. here now fox news sports analy analyst. i cannot watch that again. the players were laughing almost as much as i am, what you think of that? >> i thought it was a lot of f fun. everybody was scratching their head, now that he is in sports. at least it fits now, that is what fanatics are. he spent $2 billion so he can scream and holler and it was all in good fun, they caught everybody by surprise and may not have known his background but i guess it fits the mold. melissa: he is the biggest dork around. >> stealing a character from the late chris farley, if you
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remember the band down by the river guy, he had a lot of enthusiasm for just about anything, that is this character, and i love it. melissa: the players were kind of laughing, try to keep a straight face but they know the new boss when they see him. the nfl now wants superstars to pay to play in the super bowl halftime show, this according to the "wall street journal." i just realized all of these superstars were getting out there for free, but their album go through the roof the second they get off the stage, but you actually say listen, we would like you to do the halftime address what it is going to cost you even rumored they want a piece of their sales as a result, trying to get fancy with the deals, what do you think about this? >> i don't have a problem with this.
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the nfl is giving them a platform, they go on tour, sell the album and have downloads, a prophet station for them, nfl is picking up the tab giving several million dollars of expenses to put on the show. it makes the halftime go from 15 minutes to 32 minutes, 1000 people on the field and the performers should have to pay. theit's not entirely be on nfl k when they are profiteering for that appearance. melissa: i don't think these guys pay for anything. they don't pay for their spray tan, they will not pay for their halftime time. >> they will make $20 million from it and it cost a few million dollars, why not? >> i know a certain enthusiastic steve ballmer who loves camera time. the speech, the passion. melissa: did not suggested to him, he will buy that next.
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liz claman giving a speech of what is coming up on her show next. liz: number two is now number one in jersey sales. you know what he did last night, like him or hate him, he flipped the bird feather merchandise sales are flipping like a bird. they're going live to a sporting goods store and show you these. we are talking expensive luggage that everybody seems to be staffing up. a fox business exclusive with the ceo. his very first interview since they have come in with solid revenue numbers beating the street. a brand-new line he is going to unveil to us up about 17% over the past six months. he is doing extraordinarily well leading up to it and they are as small as wasp and hummingbirds.
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we have the company and the ceo, he is the small unmanned drones for military under challenging conditions, it is publicly traded, melissa. melissa: i love that, thank you so much. trouble interrupting in icelandic, it could be bad news for travelers all over again, plus the travel pitch man that has happening in america, is he treat be, is he handsome? he is effective, joining me in the studio next. you can never have too much money. you're driving along,
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melissa: from the u.s. to every corner of the globe, money is flying around again today starting in iceland bracing itself for huge eruption, experts have been monitoring seismic activity around the nation's largest volcano. hidden deep around a glacier, recent earthquakes have led them to believe the volcano wilson blow leading to a glacial explosion of ash and lava. a lot of business travelers are very worried. it shuts down airspace for six days costing companies billions of dollars. over to cuba which has run out of beer. how is that possible? the nation's largest brewer pulling production due to their barley shortage. that'll be a a problem. imported beer is hard to find were sold at a huge markup it is a bad timing. suffering one of the worst heat waves in decades. landing in canada where hitchhiking robot has completed
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his nearly 4000 miles journey from nova scotia to british colombia. left his home on the east coast on july 27 flagging down motorists ever since. and what a trip, crashed a wedding, even met a famous groundhog along the way. i am just glad nobody sold it for scrap metal. time for little fun with spare change. they may have their slightly this troubled pitch man to thank for that. rivaling priceline and familiarity, but he has been so criticized for his appearance that he has inspired a makeover contest to change his look. you cleaned up to come on the show. isn't that against the brand? no? >> this is me, this is me. melissa: you have been called
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online as a divorcee who keeps scotch in his love box. and distracting way belt was. are you wearing a belt? >> i am wearing a belt. melissa: did his comments hurt your feelings? >> i am laughing, i'm having a great time reading the comments. melissa: we were surprised to read a european-style list was behind this fall look, not a result of spend all the money hiring you so they could not buy clothes or a brush, instead it was like this was a conscious decision. what is behind that? >> i think it is more of a style of european-style. i put my clothes on, and they rumble you up, take the belt off, let's try that. in the end i wind up wearing what they choose for me to wear.
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melissa: when i said you would be on, somebody said get him a belt so i am glad you have a belt on. we are joking about it, but it has made you a very recognizable brand, it has done wonders and a success story that is a little bit counterintuitive, why do you think it worked? >> i think it worked because of the rumble miss i have to say. the big positive for us was i was not wearing a belt. people could relate to it or not relate to it, so it brought in controversy. melissa: are you rumbled when you walk down the street normally? >> i am genes and t-shirt type of gu guy. melissa: a lot of cranky americans desperately in need of a vacation but are too scared or stressed to take one.
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40% of people don't plan on using their leave, some are not taking any at all. number one reason they fear they will come back to the mountain paperwork, another reason is because they think they are replaceable. what would you say to those people who are not taking their vacations? >> i have grown up in america my whole life, i moved to germany and saw a cultural change where people take a lot of vacations, more or less a given, you're going to go on vacation twice, three times per year. it is more stress-free. why not take a little stress out of your life, book ahead of ti time. definitely use it. melissa: thank you so much. oh, sweet child of mine you are cute, lovable and expensive. the cost of raising a child, at the end of the day it is all about "money."
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>> so you thinking about having a child? it's going to set you back about a quarter of a million dollars. that doesn't include expenses after 18! a new report finds the average parent shells out nearly $15,000 per kid each year, and if you are covering your kid in college add about 30 grand for tuition. jack, i know you had two kids of your own. a terrifying statistic. if you break down what it goes for 30%, for housing, 18% for child care, 18% for education, 16% for food. are you getting short of breath hearing this? >> i try to tell my wife, walmart, right? prices are low. they have clothes at walmart. food, she's going to whole foods, really? does it have to be organic. liz: i don't think that's going to help you. those are nickels that are
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saving there. a family earning less than $61,530 a year is likely to spend $176,550. the portion of that. household income over $100,000. you spend about $400,000. >> hits low-income families harder. it's expensive in new york city. i'm hoping my kids are professional golfers and work until i die and never retire. >> i think that's it, we are going to work forever, you could be an uber driver. >> makes financial planning easier when you decide you are going to work forever. >> when you feel this, do you want to have a third child adding up the costs? you have two, right? >> we talked earlier about my minivan. when i look in the rearview mirror, i see empty seats and i feel like they should be filled up. >> are you picturing like $400,000 per seat back there? when you look at the thought of filling them.
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$400,000 per seat back there and decide from there whether it's worth. >> maybe go back to a sedan. >> there you go. that's all we have for you. i hope you're making money especially if you have kids and have to pay for them. "countdown" starts right now.. liz: late summer market surge! the nasdaq on a massive tear hitting new 14-year highs again today. too late to catch highfliers like facebook and tesla? mike holland on why he thinks the best is yet to come for one nasdaq company in particular? google, a huge striver of the nasdaq success, the internet giant turns 10 as a public company. what it must do to stay in the stratosphere? flying like a bird after flipping the bird. cleveland browns number 2 now number 1 in nfl merchandise sales after qb johnny football's monday night motion to the
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