tv The Willis Report FOX Business November 25, 2014 5:00pm-6:01pm EST
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stay low, but if demand is high, that could change, so i'm really watching the weather right now. liz: watch out for the next polar event. david: jeff is not the only one watching the weather. we're all aware of that. meanwhile, the "the willis repo" is next. ♪ ♪ gerri: hello, everyone, i'm gerri willis. did a major automaker break the law and then try to cover it up? honda admitting it failed to report more than 1700 injury and death claims over 11 years. but the automaker is blaming the major lapse on computer issues and a misunderstanding of the law. here to weigh in, doug drawner, the car -- brawner, the car czar show host. thanks for coming on the show. so i look at this, the actual number, 1,729 failures to notify the government, and i think is this a colossal oversight? or is the company claiming this is an even credible response
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coming from honda? how do you come down, doug? >> gerri, i'm stunned by the the admission that they underreported these claims, as you said, over ten years, and now they're blaming it on data entry failures by their own employees, and as you sai some coute codgrror 's aery we dfensf y. t boom lne ove 100 peop wer eitr vy serisly iuredrille by heir poduc, anhonds mitng ieve tol fdera gornme. th is bigrobl for th comny. gei: andofcour, hons the laeitse ur o takta aibag now thetandrd und u.s l fautakerishatou he rert the dehs a iurieon auartly sis. part of honda's excuse here is that we didn't understand the law. [laughter] >> i find that challenging to believe given honda's strength in the market and the sheer size of the company. this law was enacted back in
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2000. they've had a long time to figure this law out. but,gerri, why are we allowing honda to police themselves? why isn't this reporting, say, by police who have done their own investigation sent straight to the federal government? in this case the reporting's done to honda, and then the law says, okay, honda, you tell c gerri: or, in fact, nhtsa could create its own list of violations on its own and not rely on other people or other folks or other, you know, the automakers or the police. i want to talk about fines -- >> absolutely. gerri: because there is a maximum fine here of $35 million. keeping in mind that honda is an international company and millions probably is not very meaningful to them. should it be higher, and could they be fined $35 million in every instance of abuse? >> that's a great question. there are some in congress right now who are calling on for a new
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law that would raise that $35 million limit. $35 million to honda is a drop in the bucket. i'm not trying to -- gerri: it's true. >> -- not be serious about it, but come on. they should be held accountable for that and more. congress needs to act on this and put the word forward to these car companies that they're not going to be able to get away with underreporting or failure to report, which is what happened. gm recently got hit with that fine, it wasn't even noticed by the market. $35 million to these companies is not a lot of money. gerri: this would seem to be a pattern. i mean, it's not just honda, it's not just takata, it's gm. all of these companies seem perfectly comfortable breaking the law, and i just had a guest on about a week ago, a former nhtsa official telling me, look, gerri, nhtsa's just too close to the industry, they don't consider themselves the cop on the beat, they're not doing their job. do you agree? >> i agree 100%. i think the national highway transportation administration has done a horrible job with respect to the gm recall, to the
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takata airbag recall and now honda. they have proven that they are, well, inadequate to police the very industry they're in charge of. i don't think the automakers fear these guys one bit, and they're walking all over these federal laws. and until we can put some teeth into this law, they're going to continue to do so, in my opinion, yeah. i don't think they're worried one bit. gerri: so it sounds like you are saying here that what honda has done, yes, that is a cover-up. >> well, certainly that's -- a lot of people want to know e what they knew and when they knew it and for how long. this has been going on, as you said, underreporting and failure to report for ten years. i would call that a systemic problem and one that i have difficulty believing that honda executives didn't know about. come on. gerri: we've actually got 11 years. so either way, it's a long darn time, that's what we call it. doug, thanks for coming on the show. >> thank you, gerri. thank you. gerri: and thanksgiving travelers, are you one of them? are you going to fly?
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along the east coast, heading out early ahead of the nor'easter, others of us are crossing our fingers and hoping our flight leaves on time. so what should travelers expect? let's bring in fox meteorologist janice dean. what you got for us, sister? >> you know, if i had a magic wand, you know that i would make it all go away, right? gerri: absolutely. [laughter] >> so we say that first, and now the bad news. [laughter] we've got the low pressure center that's developing off the coast of florida, classic nor'easter setup. if you can travel today, tonight, even early tomorrow morning, that's the best thing. all day tomorrow all up and down i-95 is just going to be a complete mess. and then maybe, you know, thursday might be an eyed, to travel -- idea, to travel in the morning. here's 2 p.m. on wednesday. there's philadelphia, kind of a mix here, new york, mix here, but we think it's going to be cold enough for measurable snow later on in the evening. there's boston and portland, so 3 p.m., a complete mess all up
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and down here. and interior sections could get over a foot. so there's wednesday around 7 p.m. lifting, just lifting out of the new york city area. albany could get some heavy snow as well as portland and boston, you're right on the cusp of around 5-7 inches. and then up towards eastern canada by thursday, so it's outta here by turkey day, but tomorrow is really going to be the worst day for the traveling. so there's our forecast snow efall right now. look at the amounts right here, again, interior sections of new england could get over a foot easily, 3-8 here in new york, depends on where that, you know, that freezing mix setup is, philadelphia 1-3 and, you know, washington, d.c. is just going to be mainly a rain event. so wednesday, again, transitioning to snow by midday for some of these big cities. interior sections 6-10, i wouldn't be surprised to see a lot of areas here getting over a foot of snow, and then wet snow and a mixture all along the coast here, so it's just going to be a mess on the busiest travel day of the year.
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so here your delays are expected delays, tomorrow afternoon when the bulk of the weather moves in, new york, bigtime delays and cancellations here, boston as well, philadelphia, d.c., moderate delays, charlotte, you should be okay, atlanta, the storm will be lifting by then, but, again, if you're going to the northeast, you're going to have a ripple effect, right? so these are the weather-related delays, kansas city could see some delays related to the after effects of what's going on in the northeast, and there's minneapolis, otherwise los angeles you look good, dallas too. you know what happens, gerri, when you've got all those delays, all the big cities, you're going to have problems for the rest of the country, so when are you traveling? gerri: i'm traveling very early tomorrow morning, and i'm going south. >> well, then you should be just fine. gerri: oh, that's the best news i've heard all day. >> you've got my e-mail, my cell phone concern. [laughter] gerri: janice, you're like magic.
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thanks for coming on. >> anytime. [laughter] gerri: oh, i wish it were true. well, airlines are trying to prepare for the unwelcome serving of snow and rain on the businessest travel day -- busiest travel day. here with what you need to know, the founder of airfarewatchdog.com. we've got a number of airlines here that arewaying those change fees -- waiving those change fees. alaska, america, u.s. air, delta, how many? >> almost every airline, gerri, is going to waive change fees, but i think what consumers need to know is if their flight is canceled or severely delayed or even a rerouteing, that they can get their money back even on a nonrefund bl fare, and i think a lot of flights are going to be canceled preemptorily. i always have trouble saying that -- gerri: information. so if your flight is canceled, you can just can your trip and get the money back. what if you just want to rebook
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though? how easy is that going to be to do? >> well, yeah, probably there are going to be a lot of flights that don't have seats on them, so i think rebooking is going to be very difficult. the planes are very full, it's a very busy travel period. you might want to be able to rebook from november 1st to december 17th which is one of the -- december 1st to november 17th. gerri: yeah, that doesn't work. >> the you are the can key's going to be cold. the cur key's going -- turkey's going to be cold. gerri: 125 cancellations yesterday, what does that tell you about what's going on? is there a message there? >> they cancel before they start stranding people, so a lot of airlines are going to cancel flights just in case. so you're going to find that, you know, probably hundreds of flights will be canceled. another thing to consider too, gerri, is a lot of people don't realize this, but credit cards now offer a lot of protection and coverage if you're stranded.
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so citibank, chase cards, if there's awet delay, they -- weather delay, they pay $3-$500 in hotel costs if you are stuck, and if you have nonrefundable ground arrangements such as hotels, rental cars, those are covered as well, up to $5,000. and a lot of people don't buy travel insurance, but they already have it with their credit card. gerri: that is great news. your other advice is to arrive at the airport super early if you are going to try to fly, correct? >> that's what i do. people think i'm crazy, three hours ahead -- gerri: oh! >> they may put you on an earlier flight. get a day pass to the lounge, it's a great time when you know there's going to be a delay. get a day pass -- gerri: this is when it makes financial sense. this is when it makes financial sense to get that day pass, because you may end up using it for hours and hours, and arriving early is good -- my actual strategy is always to leave early in the morning rather than evening flights
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because it always feels like you're more likely to get where you want to go. am i right? >> absolutely. and another strategy, gerri, is try to get rerouted through a warm weather airport. let's say you're on american airlines going through chicago. maybe you could ask the airline to reroute you through las vegas which is now -- phoenix, which is an american hub because they're not going to get snow. and the other good thing about those airport how longs, gerri, if all else fails, they have free booze, and you can drink yourself into oblivion. [laughter] gerri: thanks for coming on. great advice. george, thanks. >> always a pleasure. gerri: and still to come this hour, more including your voice, your voice is important to us. that's why during the show we want you to facebook me or tweet me me @gerri willis fbn, and at the bottom of the hour we'll read those tweets and e-mails. but first, the food police at it
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gerri: we know you've been following te ferguson, missouri, situation closely, and this hour we expect president obama to make comments at an event in chicago. if he makes news, we'll let you know. in the meantime, the fda is hoping new federal rules requiring all chain restaurants and a host of other establishments to post calorie counts for their menus that will help meshes eat healthier -- americans eat healthier. apple metro chairman zane tankle owns us now. you have 38 applebee's, you've already done -- how'd that go? >> it went well. surprisingly, it sort of morphed in. there was no major eruption. gerri: so you have it on the men jewish? >> we do, alongside each and every item on the menu. gerri: is this something customers were clamoring for? you're laughing at me.
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>> i don't think -- first of all, we call them guests, not customers. gerri: all right. >> but i don't think they were clamoring for it on the one hand. on the other hand, it might surprise you that i'm not against that. and we at apple bee's aren't against it. it's a trend -- gerri: a lower calorie menu. >> right. we've been driving -- look, if people are healthier in the united states of america, we all benefit. the affordable health care act is here. we don't like it, we don't want it, but it's here -- gerri: you have to deal with it. >> you've got to navigate it. the healthier the consumer is if you look at the macro versus the micro, you can navigate it. gerri: what did it cost you to change over? >> i don't know that we measured the actual cost, i mean, it was hundreds of thousands of dollars at the end of the year. gerri: well, that's an additional burden. that's sales that you don't take to the bottom line. >> gerri, from that point of view, it's horrific. pile-on, demonize. gerri: to that point, you know,
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the white house has quietly released right before thanksgiving a slew of new regulations, many of which i expect to impact you. 3,415 new rules, and you look at that, and you say the yourself, zane, why am i in business? this is going to cost me more. what's your reaction? >> well, there's a lot of people saying that right now. you know, the reaction is that hopefully, hopefully -- we're praying -- that there's a change in washington, there's change in the administration, change in the presidency. congress is the first step. this man is just i don't know what his drive is, it's just -- he doesn't have on-the-ground, practical experience. gerri: you didn't build that. >> pardon me? gerri: you didn't build that. >> no, not at all. [laughter] >> err jer those regulations impacting businesses cost about $2 trillion, and on a per-consumer basis, that's $15,000 per consumer because, let's face it, you don't just eat all of that yourself, you pass it on to me, a guest at
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your restaurant. >> yeah. gerri: right? there's something of a flow-through, and i think that's a missing link that people don't really realize. >> there's no doubt that it has to be paid somewhere, and the consumer at the end of the day is, bears the burden of it in some way, shape or form. gerri: so are there any other rules you're expecting to come to pass that you're going to have to deal with soon? >> i don't want to divulge them on air, but there's a ton of them. there are more than you could possibly imagine, and i wouldn't want to give any new ideas to people who are letting some of them lie on the sidelines while they drive other things. so, yeah, there's a ton of them, and the pile-on, the burdens are beyond what you can possibly imagine. they truly are. gerri: and this from a man who's a successful entrepreneur, start-up guy. >> i am. gerri: trying to build his business. zane, thanks for coming. >> thank you so much. gerri: and now we want to know what you think. here's our question tonight, will calorie counts on menus change what you order? log on to gerriwillis.com, vote
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on the right-hand side of the screen. i'll share the results at the end of tonight's show. later in the show, how can you avoid some of the most common black friday scams? yes, there are black friday scams. and, next, smoke billowing from burned-out businesses in ferguson. you've seen these pictures after a night of violence. one store owner, you've met him before on this show, was looted for the third time last night. he's going to update us in moments. stay with us. how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment
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michael brown. now at least 80 arrests were made last night and this morning. there was one death can. a dozen people injured as buildings burned and businesses were looted across the st. louis area. joining me now, the inner of delwood market, a convenience store just a mile from ferguson. we've talked to him many times now, his family store was looted twice over the summer and is ran squawked again last night -- ransacked again last night. how are you today? i just feel for you. tell us what happened last night. >> i'm still in the process of kind of just cleaning up, but what happened last night was about around 11:15 people started gathering in the parking lot, and we had closed up around 7:00 because we knew they were going to come out with the verdict or what not. but anyways, so like i said, around 11:15 they started
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pulling down my bars that i had put up on the outside and breaking through my windows. we had plywood up as well, but it couldn't hold them back, so they got in, and they just -- it's like all over again -- gerri: it's like a bad dream recurring. now, you had metal bars on the front of that, right? >> yeah, yeah, we did. gerri: didn't do any good? >> we had metal bars. no, they didn't. i had a little bit of hope. everybody has been talking for the past couple of days about things might get bad again, and i was kind of hoping that this time we'd prepared enough to where we could keep people out, but it just wasn't enough. gerri: what are you expecting tonight? >> i think that we've only seen the beginning of something really, really bad. i don't know, but the way people are talking about in the area, in the neighborhood about how,,
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i mean, they're just going to literally burn down the city or burn down the town, whatever. but, i mean, i wish it would stop and we could move on here. to solve whatever needs to be solved. but unfortunately, i think that it's going to turn worse. gerri: so you think the looting resumes tonight, and you continue to be worried about your investment. you say you feel helpless. tell us about that. >> yeah. because, i mean, i was expecting more authorities to be on the street, and i had hopes for more police -- gerri: what about the national guard? >> and national guard as well. i was hoping to, that they would be visible and be out there, but to be honest with you, i haven't seen one, one person from the national guard. they might have been down here towards, closer towards the shooting took place back in august, but i have not seen one perp, i have not seen one -- one
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person, i have not seen one car, and i was expecting more visibility from them. gerri: you know, for ferguson this is a true economic tragedy in addition to the tragedy that's already occurred in august. i have to think that there are some business owners there who may be thinking about not picking up the pieces and maybe just moving on. are you one of them? >> you know, i -- my dad is, unfortunately, not in town right now, and it's going to be a completely his decision. but from what happened back in august, we were really, reall clse o ju kinfurnng theeynd csing dn beuse oft'ssouchoney th you veto ce up wit a iestmnt a theime dhe harworknd erythg. it ju nt woh it. gerr w. thas fo comg bacon th sho let kn whou'ointo o. well ba in uchwith yo e'rehinkg abt yo tnigh anall e pple tre ihe fersonreaho wkohard
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habusiess therve theommity. ou ys aoin e rit thng. apecia yo wrk. yea gerr tha you >> tnk y. gei: at atory righ comng xt, foreou and in lne f hurs outside walmart on thanksgiving or brave the black friday crowds at all, we'll have some advice on how not to be a victim of popular shopping scams. and the fight over your business for retailers doesn't end on black friday. the shipping wars are just heating up. we'll tell you what that means for you and your money.
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gerri: are you ready for it? the biggest shopping weekend of the year just days away. and with black friday spending set to rise to nearly $37 billion, you better believe retailers not only want a piece of pie, but scammers want their action as well. here with black friday scams you need to be aware of is nerd wallet,
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matthew wong. matthew, welcome back to the show. great to have you here. let's get down to it because some of these are i illuminating. you said there are fake coupons out there. >> yes. fake coupons things you'll find around social media sites. on social media, anyone can post anything including scammers. you may see offers that seem legitimate, but are offered by people that maybe aren't people you know. what these offers will do is take you to links that look like a store's website, but aren't really the store's website. these are phishing scams where they're looking for your personal information. they're looking for you to put in a user name or a password or credit card information, data you don't want to share. if the site looks like a reputable retailer, you might be tempted. gerri: every time i buy something online, i google the name of the store and coupon and
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try to find one of those codes to get a discount. is that the wrong thing to do? >> that's not necessarily the wrong thing to do. just make sure when you're using those third party coupons they're from a site that seems legitimate. a lot of these -- gerri: matthew, it's so hard to tell. [laughter] >> absolutely. one of the things you can do, you can check out a retail coupon site, see if they have an actual business listing, like an actual address, phone number. see if they have a press page. that's a good indication they could be legitimate. gerri: how about phony emails? those come all the time, don't they? >> yeah. phony emails, not all will be caught by spam filters. one of the problems is, they're mocked up to look exactly like the retail emails you're used to getting.
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make sure this is a retailer you signed up for. these spammers will be sending millions of these listings pretending to be popular stores. they'll be sending them to so many people, they assume some percentage of them will have signed up for them. if you haven't signed up for the store, don't click on this. gerri: i have to tell you, in the space of this half-hour, i think i've gotten five emails from retailers. they're on it and super early. let me get to some more of this. bogus products. especially luxury goods. watch out. >> yeah, luxury goods are something that a lot of spammers will like to put out there and see if they can get any bites on. remember, black friday has conditioned us to look for great deals. forty, 60 percent off. which is great. but often spammers will capitalize on that and offer these goods. and really, the problem is, it's difficult to tell if a product is legitimate just by looking at their online
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listing. spammers on websites that are really phony websites, they can copy a listing from another legitimate site. what you want to be doing is check with the better business bureau on whether that website is actually a legitimate retail store. if it's not, stay away. gerri: all right. the big thing i'm worried about. data breaches. you don't have to go online to get ripped off. go into a store like target. will that happen again? do you expect more of it this year? >> well, we really hope not, gerri. data breaches we hope is something astonishes stores have caught onto. there are some things as a consumer that you can do to protect yourself. be careful about paying with a debit card. if there's fraud on your debit card, you can't get that money back. if you pay with a credit card, you can dispute charges. consider paying with cash when possible. gerri: thanks for coming on the show. now, a shipping alert
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for you, if you're shopping online during the holiday season, retailers rushing to add all sorts of speedy delivery deals to compete with amazon. we're covering your wallet with online expert ken. ken, thank you for coming. >> thanks for having me. gerri: huge question this year. last year there were a million packages that didn't arrive on time. will we see that again? >> well, ups and fedex are already talking about concerns that if retailers are taking really late last minute orders, they won't guarantee they will get there on time. i do think there's that possibility. gerri: online spending is growing 16 percent this year. year over year. that's a recipe for disaster, i think. >> definitely. with the rate that things are growing at and more and more people are really kind of starting the online process even earlier now, the reality of it is, is that i think as you get closer -- let's
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be honest, a lot of people wait until the last minute. even though retailers would have loved to have seen you buy over the last week, where thieves they've seen an increase last year. a lot of people shop online. gerri: don't blame the procrastinators. it's the retailers saying, look, we'll get it over night same day. it's like magic. will that work this year? >> this year there is something that is a little bit different. a few new services out there working with the retailers and even with malls to make same-day deliveries. a service out of california called deliv is one of them that's doing that. and there's some spots where uber is making a lot of these deliveries for products able to pick up in the stores and delivered right away. there are options that are there now that weren't there a year
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ago. gerri: you used to be able to cut down on free delivery. amazon is cutting back on that even. is there anybody out there still giving free delivery? >> sure. when you look at zappos. they've controlled a lot of that space that's been their mantra has been the free delivery, free returns. there's an interesting player that was talked about in the previous segment. target trying to gain back a lot of the trust they had off that data breach has extended free shipping until the 20th. there's concerns that will hurt their bottom line. they're trying to gain back consumer confidence they might have lost. gerri: i want to show folks the free shipping minimum stores. walgreens, 25 bucks. amazon 35. best buy 35. home depot 45. you can see the list here. ralph lauren, a lot more than that. the list goes on and on. what's your best advice for people to shop
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online to make sure they get the gifts where they want them? >> sure. we've seen a big increase with online retailers really offering more deals here even leading up to black friday. so shop early, i think is probably the best thing you can do. the notion you'll be able to get some type of last deal isn't necessarily the case. the sooner you order, the less problems you will have. there's a lot of variety and options out there. at the end of the day, you want to make sure your gifts are there on time. gerri: that's right. ken, thank you for coming on. >> great. thank you very much. gerri: now, we want to hear from you. the fda has announced new calorie rules today requiring restaurants and supermarkets with 20 or more locations to post calorie counts clearly and conspicuously that's their aim starting next november. will this change your choice when you go to order some food? here's what you're tweeting about the question. mark says this: so much safer now that the fda
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is mandating these new rules. gruber knows that we, the people can't make our own decisions. a little sarcasm there. the next step the fda has decided people are too dumb and will start heavy-handed potus regulating. jenny says, i don't have a problem. i think calorie counts will affect me. seeing it spelled out is stunning sometimes. for those of us relying to know what is in the food we eat. without it, we're forced not to eat out. what about fat? why not salt? why don't they tell us that too? in addition to follow me on facebook and facebook, be sure to like fox business on facebook. and here are some of your emails. on the issue of voter id, linda, i have to show my id to see a doctor, to write a check, to get on an airplane, so why not
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when i vote, the most precious thing we have as a us citizen. warren: yes, yes, yes, stop stuffing the ballot box. more control of voting is needed. we must have a true voice of the people. buddy, thank you very much for your informative show. from voter fraud to market analysis, to this day, i use coupon sherpa, one of the apps you recommended on your show. keep up the good work. buddy, thanks for that. keep watching. we love hearing from you. go to gerriwillis.com for more. we're becoming a regulation nation. busting a job hunting myth. why right now the holiday season may be the best time to look for a new job. stay with us. ♪ ♪
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gerri: don't wait until the new year to find a new job. our next guest says the holiday season can be the perfect job for job seekers to land their next year. how do you do that that? tom gibbel. a chicago staffing firm. great to have you here, tom. really? the holidays? i think people are preoccupied with other stuff. why is this a good time? >> well, number one because -- [no audio] holidays. so whenever you want to be aggressive and be motivated when other people are taking time off, that's just a point to take advantage of. number one. number two, people are starting to plan the leaders, the c level people at the end of the year. they're thinking about what they're going to be doing in the next quarter of next year.
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gerri: i think this is great advice. the point you're making, this is when they're drawing up budgets. this is when they figure out if they'll increase head count. can they move ahead. if you appear on their horizon at just the right time, that could be perfect. >> absolutely. these people want to hit their 2015 numbers, depending on they're a calendar or fiscal year. people will be getting their bonuses at year end or first two weeks in january. they want to interview people in december so they can get started and give their notice at the beginning of the year. and get started in january and have a runway for next year's numbers. gerri: the gatekeepers may be out to a holiday party, long lunch, might be able to to get your foot in the door and see somebody important without having to get through the secretary. >> not only that, you get a lot of blockades of certain levels of management or operations or human resources people to get involved. and there are great people. and you'll have to meet them eventually and go
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through it. if you can get a meeting with the vp, it's a great opportunity when people are trying to do other things to get on the radar of people making decisions. it's a crucial time. gerri: all right. one piece of your advice that i have questions about, that i don't quite buy. >> of course, you do. gerri: you're telling people to crash the holiday party. what will you do? give the boss your resume as he's drinking down the holiday punch. [laughter] >> you have to be realistic about this. if you have a friend or spouse or family member who works at a company at which they're having a holiday party and they're allowed to bring somebody, don't be shy to go and make a good impression. don't act like a goofball. if they're allowed to bring other people along, don't be afraid to go and introduce yourself to people. gerri: sometimes you just need to show your face. right? get to know people. >> the more familiar -- the more familiar you are in a corporate
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setting, whether it's friends or significant others, the more you're allowed to be there. the more acceptable it is. you can have conversations with people that make a difference. gerri: if we're going to expand. maybe that's one of the people we might want to talk to. >> hey, you can never get a second chance to make a first impression. gerri: you made a great first impression. thanks for coming on the show. still to come, my "2 cents more." they tried to sneak one past us as the white house reveals thousands of new rules, new regulations, we'll break down some of the biggest ones coming up next ♪ ♪
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gerri: rules, rules, and more rules. the obama administration just put out a list of thousands of new rules and regulations we all have to abide by in the coming months. the new rules range from calorie labeling to what kind of light bubbles yolightbulbs youcan have in you. it will cost people $2 trillion next year. with more on this red tape, steve moore. just in time to the holidays, steve. 3400 new rules. >> what a wonderful early thanksgiving/christmas present. you described it well. these regulatory things are a shadow tax. by our estimates at the heritage foundation and others that verified this that the cost of the american economy is somewhere in the neighborhood of $2 trillion. the deal is everything to putting in a
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lightbulb to what kind of drugs you can buy and produce. i don't have a problem with smart regulations. the ones that are just imposing on people's freedoms and so on, those are the ones that are really trouble some economically. gerri: there's an estimate of $100 billion total possible cost. we know from other sources that the cost of regulation is possibly as much as 15,000 per consumer. i have to tell you though, the thing that burns about this is that they release this information late on a friday. they hope nobody will notice. that we'll go along our merry business. 2015 will dawn. 2016, more and more rules will be on our backs. why are they secretive about this? >> you think they would be proud of these. you know, i have a little bit of a different problem. the way they kind of try to put these out at a time when people will
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notice is problematic. but we've had this whole issue of basically an executive branch that's become imreerlistic. this is another example of it. a lot of these regulations. if we have regulations down the line, shouldn't those be determined by congress. shouldn't they be determined by the legislative branch. what's disturbing to me, this is another example of a kind of executive branch that is out of control. it's basically bypassing congress. gerri: it's like a fourth branch of government. >> well-put. gerri: all of a sudden we have all these new rules. these agencies are just writing them and putting them into place willy-nilly. >> this could impose tons of billions of dollars in cost. they're putting coal miners out of business. many times we rejected
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these kinds of regulations. it's a fourth branch of gravity that's taken a legislative power. often in contradiction of congress itself j. gerri: i'm a coal miners daughter so you're preaching to the choir. on immigration, they say their immigration plan which we've talked a lot about on the show will add four tenths to the gdp, to the economy in ten years or $90 billion and that it will reduce the deficit by another $25 billion over the same ten years. raise wages of americans, they say, by 3 percent. i'm not sure i understand the math of this. do you agree? >> it's the new math, come on, gerri. >> it depends on what they're talking about. i saw that statement. now, some elements of the president's plan
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increasing high skilled education. the h-1b visas, yeah, that would raise our gdp. no question about it. we need those people to create new businesses to make our businesses more efficient and competitive. if you're talking about the amnesty plan as we talked about on your show last week -- gerri: you have a different estimate? >> yeah, tons of billions of dollars negative because of the welfare cost and obamacare cost of these things. hard to net these things out. legal, gerri, legal immigrants and legal high school workers that helps gdp, the amnesty program is a big negative for gdp. gerri: always good to have you. thank you. >> have a great thanksgiving. gerri: happy thanksgiving. we'll be right back
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story will come as no surprise. barbie, she's old news. it's all about elsa this year. barbie has lost the number one spot. 20 percent of parents will buy frozen merchandise for their girls versus less than 7 percent making a barbie purchase. legos the number one purchase for boys. finally, okay thanksgiving may be canceled by brutal winter weather coming our way. first, your 401(k) and ira, the stock market continues its robust performance. also, gas prices remain low, low, low. with oil prices hitting new lows. finally, the economy showing signs of strength here. we find out today as third quarter gdp came in stronger than expected. a lot to be thankful this holiday season. that's what i wish for he have been. a beautiful holiday with lots of family fun.
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maybe a little shopping. that's my "2 cents more." that's it for "the willis report." don't forget to dvr the show if you can't catch it live. charles payne, coming up next. have a great night. charles: i'm charles payne, and you're watching "making money." riots, looting, fires. gunshots. businesses destroyed. more than 80 people arrested. obama calls for calm. as he did, rioters nearly flipped over a car. peter barnes live in d.c. with the latest. peter. >> we're awaiting additional remarks on ferguson from president obama who is in chicago to talk about immigration reform. but we're told he will make new remarks about the situation in ferguson. we'll get those to you as soon as he puts them out. today, however, attorneys for michael brown's family criticized st. louis prosecutor robert
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