tv The Willis Report FOX Business January 27, 2015 5:00pm-6:01pm EST
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revenue up. stock is rallying. david: now $114. a lot of people wonder if it is worth it. >> "the willis report" though is next. gerri: hello everybody i'm gerri willis. and this is the "willis report," the show where consumers are our business. historic blizzard for new york city that never was. weather forecasters say, sorry for getting it so wrong. >> i think in general the storm was overplayed in new york. >> the biggest consumer electronics company in the world, apple reporting earnings. what is next for the iphone and when can you get your hand on the apple watch? the feds spying on most of drivers. why are they using technology to fight drug dealers to track your every move? >> this system has been in effect secretly for a number of years. gerri: also an indiana church takes on the biggest bank in the
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country. the reverend steven carlson is here to tell us why he is going after jpmorgan chase. live a better life today. the author of a groundbreaking new book is here. what the over 65 crowd can teach us about family, love and money. all that and more coming up on "the willis report" where consumers are our business. gerri: we begin tonight with stocks in free fall. the dow dropping 291 points almost 300 points. look at that, after a batch of big-named companies missed expectations. wall street also reacting negatively to u.s. durable goods orders which tanked in december. so why isn't obama's highly-touted recovery showing up on company balance sheets or consumer wallets? we're asking our all-star panel. steve moore heritage foundation, grover norquist, president of americans for tax reform and fred barnes editor of "the weekly standard." all
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bang up panelists. steve, i will start with you. what happened to this much-vaunted recovery? caterpillar, microsoft dupont, p and f, across the board all kind of sectors all these companies reporting down earnings. what do you say with what is going on with the economy? >> i would say, perhaps gerri barack obama did the icky shuffle in the end zone a little prematurely last week when he talked about the how great the economy is doing. as you though i think we switched to a faster gear on the economist. i think we're growing closer to 3%. i have to say this is a real set back. the thing that disturbed me more than poor earnings reports that came out today was the durable good orders falling because that means companies are starting to retreat a little bit and that's been, if you look at the american economy over the last five or six years that's been the pattern. every time we start to show signs of life we retreat again. gerri: really a barometer of corporate health, that number,
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absolutely true. i want to turn for a second what is growing on -- going on with incomes. interesting report from ed lazear, used to work in the white house a couple years ago he said couple sectors completely retrenched, high-paying sectors like health care and banking. what does that tell you what is going on with this economy. >> makes a very interesting point. that the sectors that are not hiring more people, that are higher paying are the ones most damaged by obamacare's implementation in the health industry hospitals, and so on and dodd-frank and all of our focus on the damage that obamacare has done and is doing we haven't spoken and focused enough about the damage and destruction of high-paying jobs by dodd strange the mega-- dodd-frank megaregulatory regime for financial institution. >> banks all over the country have gotten killed by this thing. a lot of those jobs belong to community banks that serve small
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community. fred, i want to get you in here. new numbers out from the cbo saying that obamacare will cost each and every american 50,000 bucks. how can this be true? >> obamacare is expensive. that is how it can be true. remember the numbers that the president and everybody who helped him sell obamacare turned out to be wrong almost immediately and where is the $2500 that he have family was going to get as a reduction in their health insurance. gerri: right. >> the price of health insurance, it was all wrong. the problem with the economy is that, it will have some blips upward, but all the things that are restraining the economy, all the policies of the obama administration remain in place and he wants to make them worse. he wants to raise taxation on capital. he wants to raise the capital gains rate. gerri: absolutely true. >> tax on dividends and so on. and whenever someone proposes to ease the burden by changing the
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way the financial community is regulated or by some change in obamacare, like making it, you have to work 40 weeks to be a real full-time employee to be subject to it any change, the white house goes crazy in opposition. gerri: i want to bring grover in, we're talking about a $50,000 number from cbo you say that may not be right? >> yes. because the cbo report doesn't score 15 different taxes. remember in obamacare there were 20 taxes inside of it. it really was a tax bill sold as a health bill. 15 taxes. tanning tax and some taxes on investment, the tax on charitable hospitals. those taxes just aren't covered by cbo and people wonder why economists are unhappy with cbo's track record. they left 15 taxes off. gerri: unbelieverrable. steve, fascinating study that want you to comment on. there is a new study out showing that texas is single-handedly
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responsible for all the net jobs in the economy. how can that be true? >> from 2007 through the end of 2012 texas, texas created more jobs than the other 49 states combined. rick perry pretty good story there to tell, doesn't he, gerri. gerri: the republic of texas. they don't look to washington so say, thanks so much for the help. >> right. obviously this is driven by the energy boom that happened in texas. texas has nearly tripled its oil and gas production the last several years. just the result of the fact, if you read my book, gerri, on the wealth of states, texas just does about everything right. they have no income tax. they are a right-to-work state. they have a light touch of regulation. all of those things bringing jobs and bringing capital and businesses into section sass. a million 1/2 people just one statistic, a million 1/2 people left california more than come
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into california. if you go to texas houston san antonio, you will see a lot of california license plates. gerri: apparently airlines are changing holiday schedules because of exactly what you're describing here. seriously, it is fascinating. fred, before you go, i want to ask you this, we have the federal reserve meeting this week. all eyes on the fed. are they going to raise rates given the news we had out already this week? what do you think will be their attitude? >> i am not a great fed watcher but i think they know the economy is not growing that well. they can assess it honestly. i would be surprised if they raise the rates. it is clear when the fed withdrew stopped its quantitative easing, that that at least hurt the stock market because it what was jacking the stock market up so much we'll see. the fed plays a big role here. gerri: guys, steve grover, fred great job. interesting stuff. the beat goes on. i can't believe we're not getting better economic numbers.
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thank you so much. >> take care. gerri: we want to know what you think. here is our question tonight and question of the day, are president obama's economic policies helping or hurting america's middle class? log on to gerriwillis.com vote on the right-hand side of the screen, i will show the results at the end of tonight's show. apple you heard of course releasing earnings a short time ago. a big big, big quarter. apple's profits hit a record high of the holiday shopping season certainly helped. it sold the most iphones ever. jo ling kent with the details. jo ling, they beat on almost every metric. how big was this quarter for apple? >> it was absolutely huge and a lot of american consumers bought phones and helped apple along. they sold 74 1/2 million independednt phones. to give you a sense how big of a beat that was analysts were only expecting about 65 million iphones to be sold. and mac computers were a record as well, coming in at
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5.52 million units sold. that was another all-time record for apple. and here's the thing, gerri apple made $18 billion in profits. and just to put that in perspective for you, that is reportedly the most any company has ever made globally in one quarter. it is massive. gerri: that is astonishing. that is just amazing, jo ling. we forget how big some of these companies are especially apple, a true consumer company that has everybody's attention. did they have anything to say about products? all consumer eyes focused on it phones iwatches? any element you can tease out of that earnings report? >> we actually got no real indication about the apple watch which clearly a lot of peoplerying this about reportedly coming out in march but we did see a disappointing number on ipad sales. actually disappointed yet again. this is a trend we've been seeing. what is so interesting is, if
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you compare the iphone 6 plus and its huge popularity it seems potentially that the iphone 6 is cannibalizing some of that ipad sales that we've been thinking would eventually expand. so we're seeing a drop there, gerri. gerri: jo ling kent, thanks for staying for us. appreciate your time. >> thanks. gerri: we have more more more to come this hour including advice for more than a thousand older americans on life and love in a groundbreaking new book. 2015 "snow-mageddon," more hype than snow. how did forecasters get it wrong? one forecaster comes on to tell us next. tweet me @gerriwillisfbn much send us an evident mail through our website, gerriwillis.com. we'll be right back. ♪
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forecasters predict ad storm of the century shutting down road and bridges and flights in the city that never sleeps. today new yorkers are scratching their heads why the snowstorm never came. why were the forecasts so far off? we're bringing in fox news meteorologist janice dean. welcome. i want to show you. look at you. >> don't shoot the messenger. gerri: oh, good. >> i know we're friends. we like each other. gerri: i know you work hard. i see that every single day. >> i know. listen, i want to ask you this question. you have people that forecasts stocks. gerri: no -- >> i want to know this. my husband brought this up to me. you have people that forecast stocks, are they ever wrong? gerri: so we're not talking about stock forecasters tonight. we're talking about weather forecasters. >> what a dodge. okay. >> what happened. seriously, what happened? >> if the storm is epic in new england. we missed it by about 35, 50 miles. >> okay. >> when you have a storm
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500 miles wide and you miss it by 35 to 50 miles to the east, that is actually not a bad forecast but the fact that it missed the biggest city in the land that's why we're focused on this listen, i will admit, 20 to 30-inch snowfall in new york city, that is enough to get he had headlines. that's what we were predicting two days ago. >> i feel like you're yelling at me. >> i apologize. gerri: i know you have taken a lot of heat today. >> you know what? gerri: i want real details here. reality is you guys are a range of forecast, right? >> right. gerri: there are range of models out there. you guys pick one. >> we have a few of them. gerri: how did you get to the one that wasn't right? >> so usually the european model, not the like, european model but the european model forecast that we looked at that predicted sandy hurricane sandy so well, that has been a really good forecasting. gerri: you guys rely on that. >> we rely on that. there is a new forecast model did, the gfs model they invest
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ad ton of money into this new american forecasting model. gerri: right. >> it actually turned out to be the most correct model but in the past it has been okay. it has been, doing fine, along with other forecasting models but the euro has been sort of the top-notch. gerri: standard. >> gfs was right on the money. we were nervous to go with that. gerri: it was sort of a one-two punch. forecasters did their job saying it would be a massive blizzard, right? by the time it got to politicians, right, if we see you on the street we'll put you in jail for five years and sentence your children to hard labor. it got out of control the governor, the mayor, they were like fines for people who were driving that night. it justjust became, i think, out of control. >> i don't know who is advising them. they obviously took the forecast that 10 to 20, even 30 inches of snow in new york city and they wanted people to be safe. i get that. that's my job, to make sure that
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people are safe. so we give you information that we have to provide you schools teachers mayors, to do what they think is right after the forecasts. gerri: but that's their responsibility, not yours, right. >> it is. listen i will take -- i feel the worse for is local forecasters. they do hard work. tomorrow if you see a forecaster, you hug them on the street. they don't want to get the forecast wrong. gerri: you don't have to hug them. >> you can hug me. gerri: which we do all the time janice. it is all love. i want to answer your questioning from the begin of the interview. >> yes. gerri: stock forecasters are wrong all the time and never face the heat, ever. >> thank you girlfriend. >> oh, i want to show you something. my husband took this picture earlier in grand central. they closed everything. have you ever seen grand central empty. >> that is amazing. >> you could roll a balling -- bowling ball through middle of
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grand central terminal. >> do you imagine the dance party we could have in there you and me. gerri: with snow boots. you scared me to death. later in the show why one indiana church is battling america's biggest bank jpmorgan. joan rivers daughter suing a medical clinic for her mother's death. the suit claims incompetency to a cover-up of the how is the clinic still open? ma is my question much. after the break. ♪ i've been called a control freak... i like to think of myself as more of a control...
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plastic surgeon who joins me and run as joint commission certified ambulatory surgery center here in new york. thanks for being here. thanks for coming to the show appreciate it. >> sure gerri. gerri: what do you make of this? as i was telling you in the break "the washington post" reported they're facing a loss of their accreditation for a number of reasons. are you clinical for this clinic? >> they obviously violated some of the rules of a certified ambulatory surgery center. gerri: right. as we know what is being alleged in this particular lawsuit medicalries is a rivers says the level of mismanagement incompetency disrespect and outrageous behavior is shocking and frankly almost incomprehensible, not only did my mother deserves better, every patient deserves better. it is my goal to make sure this treatment never happens to anyone. the suit says that the doctor performed procedures without consent. one of the doctor works on her had no privileges to perform
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surge ral procedures. they failed to monitor vital signs. the doctor took a selfie with rivers while she was sedated. you're in this business, is this sort of beyond the pale? >> the whole idea of having a certified facility so the patient can be sure they have an environment of safety. that is why all these rules are in place. for instance, doctor that will be operating on any of these facilities has to apply for privileges, they have to present their credentials. the facility is responsible to check those credentials so they know the doctor is who they say they are, they are well-trained, licensed, they have malpractice insurance. gerri: right. >> this particular doctor didn't have privileges at the facility and shouldn't have been there. gerri: shocking this type of thing goes on. there are clinics all over the country in every town, in every city. makes me wonder if this is what happens to joan rivers how safe is the clinic my little town in westchester?
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>> if a patient goes to a certified ammaer to surgery center. they can be pretty sure they are following the rules. this is a breach in the rules that happened at this particular clinic. the whole reason to have a certified clinic so this doesn't happen. gerri: the family is asking for multimillion-dollar settlement. they're not saying but do you believe she has a case here. >> absolutely, because the rules were broken. >> the rules were broken and possibly multiple times? >> yes. gerri: now tell me, obviously you want to have the safety of your patients and you want your patients to be loyal and want a good relationship with them but how strong how virulent are the regulators? are they breathing down your neck all the time or hardly ever? >> when you initiate getting your facility accredited it is very strict rules, very strict paperwork. everything has to be just done the same for every procedure. i think most people do follow those rules.
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much i think in this case there were omissions. relaxation of the rules which shouldn't have happened. i don't understand how the clinic is still operating. what do you say to that? >> they are checked frequently and they check the records. they check the charts. if they find breaches they will give the clinic a chance to correct it. if they review them again and if they didn't correct it or they have more violations they may take the accreditation away. gerri: that may happen here. thank you for coming on. very nice to meet. >> you anytime, gerri. gerri: next a reverendrend shares why his church is suing jpmorgan for mismanaging the church's money. did you watch fbn's premier of "strange inheritance"? i did. i know you're hooked just like me. jamie colby is here to tell us what to expect tonight. you want to see that. ♪
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gerri: welcome back to the willis report. in a moment, one reverend shares why his church is could you could you accusing jpmorgan of mismanage its money. the man who crashed his drone into the white house grounds works for government intelligence. he's an employee of the national geospatial intelligence agency which focuses on satellite imagery. the man was drinking before flying the drone. clients about scammers posing as the irs soared. the irs says its agents will first contact you by mail and will never call to demand immediate payment. we heard from apple's ceo tim cook. the new apple watch will ship to stores in april. he will be announcing -- this is the first official date we've heard from apple. kfc offering a new item
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on its philippines menu. they're offering the double down dog sandwich where a hot dog is covered in cheese, fit into a bun sized piece of fried chicken. according to kfc, no plans to add it to the us menu. those are some of the stories in the news tonight. a new original fox business show going across the country taking a look at how real families deal with some very unusual treasures they inherit. >> my grandfather left the largest privately owned collection of insects in the world. >> i inherited the small portion of the family ranch. it came with a few surprises. >> it's big. it is the world's tallest thermometer. >> i was holding the books up and screaming like a giddy schoolgirl. gerri: joining me now, the host. jamie colby who is glad to be home. jamie: one of the reason was the hot dog on the fried chicken sandwich on top of the bun.
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i mean, i didn't see that on the road. i thought i saw everything chicken fried. great to see you gerri. you saw me at the beginning of this eight-month adventure. i'm back with incredible stories. gerri: i've seen a lot of this. the people you talked about they're so articulate about their lives and what they're doing. you were everywhere. >> i was in 25 states. i'm anxious to see the rest. the center of all this is these families. they may not realize the legacy they were sitting on. it's not about the object they inherited about the story it represents. gerri: there's always a story with these. right? i mean, it's amazing. it's not just, here's what they inherited. jamie: there is if you ask the right questions. they discovered they wouldn't have delved into. they went back through their ancestry. we have this classic car episode. i never saw so many magnificent cars. this man was so fond of
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automobiles. this family kept finding warehouses of cars they may never have known they had. gerri: we have sound from that. listen to this. >> oh, come on. get me a car that works. >> hey. >> hey! >> grandpa never called himself a car collector. he was a car saver. he saved cars. >> he couldn't stand to see a car crushed. it broke his heart. >> you have to decide, with your life, what will you do with your stuff? that's a very confrontatial thing. gerri: wow, telling the real stories of real people. how did these people not know the cars were part of the legacy. >> they were all over the place. they may have known some but not all 3,000. 300 different makes of models. this was in tacoma, washington. they built the lame
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museum. people should google it. it's spectacular. (?) the one facility i visited was a boy's catholic school. it has the chapel and all these cars. it's rich in history beyond the cars. the family is amazing. harold's wife not only oversees the family. but 100 volunteers show up from all over just to maintain and play with the condition of the cars. she makes them lunch gerri. i saw her in the kitchen. i was grinding up the model t which they let me drive. not a good idea. the new york drivers were not so delicate. it was a priceless automobile. here i am behind the wheel. you'll see a lot of crazy stuff on the show. i had a blast. gerri: it absolutely looks like it. i hope you'll come about and talk to us again. jamie: i have a lot more. great americans. hard-working. and really interesting
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collections. gerri: thank you. thank you. we'll be back with more. don't forget, watch "strange inheritance" tonight at 9:00 p.m. great show, as we said. watch it with the entire family. here's a real david versus goliath story. a church in indiana suing the biggest bank in the company. jpmorgan chase. the bank mismanaged millions of dollars of its money. wants $13 million back. plus all the legal fees back. with me now the reverend. great to have you here. tell me, help us understand, what kind of money -- where was it from that you had on hand to be managed? >> oh, thank you gerri. i appreciate you having me on. the lily family, the pharmaceutical corporation were members of my church. they wanted his church to thrive long after he was no longer around.
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he left a significant bequest to us. left it on a trust. as long as we stay in the center of indianapolis and continue to do good. gerri: and that's what you've been doing. why are you now suing jpmorgan chase? >> well, as a trustee they had full control of this portion of our endowment. we got several concerns when they started investing in their own funds. and the performance lagged significantly over other endowments of our size. gerri: jpmorgan says they did all the right thing. what kind of investments did they put the church's money into? >> it's kind of funny. as an ordained minister i'll be talking about hedge funds and private equity funds and structured notes. we're in a whole bunch of complicated and opaque investments.
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they were either jpmorgan products or placement agents for them. it's hard to understand and not appropriate for an endowment of our kind. gerri: this is -- who have a lot of money. but wouldn't it trouble some folks to put a church into some of these go-go investments that really benefit the bank. wouldn't normally someone say maybe we should do this. maybe take a more conservative bent. being that you're using it for good works like feeding the hungry or programs for your parishioners. >> we were telling jpmorgan exactly that. we've since discovered several other community foundations and other church organizations that have been in a very similar boat. that these investments are really complicated. and, you know, some of the contracts on those structured notes, you
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know, are a quarter inch thick just to understand what is going on. i don't know anyone who completely understands them. that doesn't seem right. gerri: did you think the banks did something legally wrong or ethically wrong? >> we believe something legally wrong or we wouldn't have taken legal action. you know doing the right thing doesn't always depend upon whether theres a regulator or a law. a higher sense of ethics especially when you're a trustee of a fund like this is very important. gerri: reverend steve carell son, thank you for coming on the show. >> thank you for having me. gerri: one author asked over 1,000 older americans for their advice on life and love. he shares what they told him coming up. how your car may be helping the federal government spy on you. yes, spy on you. here's your consumer gauge with the numbers that mean the most to you. check those out. we'll be right back. ♪
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gerri: well, it looks like big brother may be watching the government working on a secret intelligence gathering program tracking millions of cars across the u.s. but why, and is this legal? with more on this, fox business' jeff flock. jeff. >> yeah. it's a good question gerri. they started this near the border. they put license plate readers and cameras near the border. well it turns out. we knew about that. we didn't know apparently it stretched all around the country. take a look at pictures taken out on the highways. wall street journal not revealing where these photos are. they've collected hundreds of millions of pieces of data with these license plate readers. the question is, as you say, is this legal? we have already a
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national database that's maintained by a company called vigilant solutions. and they track license plates as well. it's interesting to see how their system works. take a look at how it does work. >> decided to make a quick sweep through a parking lot here. as you can see, there is a number of different cars. we're watching car detector. as we can see car detector is popping up. oscillating back and forth between the passenger and driver side cameras. as it picks each of the different cars. and we'll sweep every single car, we'll scan every car through this sweep. >> amazing how quickly gerri, that that takes place. the government program doesn't do it in parking lots. they're fixed card or license plate readers. a lot of people upset
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about this. the upset is both on the left and the right. we talked to the aclu today. but what the aclu said it mirrors a lot of people's feelings about this. they shouldn't be collecting this data and shouldn't be keeping this. >> the average american if they could put their license plate number with these databases, it would come up with a list of places where it's seen. if they don't get a hit on your car no reason to retain this data. >> that's the argument. it attracts people that have no suspicion of a crime whatever. and a lot of people are troubled by that. on the other hand other people say well, if i'm not committing a crime what does it matter. you can take down my license plate if you wanted. take a picture of my license plate. what's the difference? two arguments. gerri: two arguments jeff. tharngz for coming onthanks for coming tonight. i have news for you. multiple congressional
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sources are saying tonight that the president is dropping plans to tax those 529 savings plans. those are the college savings plans we've been talking about so much in the last few days in the state of the union the president said he wants to tax those plans currently. their proceeds are untaxed. and they are a popular break for middle class americans saving for college. good news for people who have kids that may be approaching college or are in college right now. a self-help book 30 lessons for living. those of 65 and up, their advice, to help us deal with big money issues. the book was an instant hit. the author is out with a sequel, 30 lessons for loving. takes the same approach it folks, how focuses on how to keep our relationships together. karl, thank you for coming on the show. why did you decide to
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write this particular book? >> well, you know, after maybe 25 years as a family sociologist there are two things i know about young people. from surveys and focus groups and all that kind of thing here's the first, getting married and staying married is confusing. it's difficult and complex in today's society. gerri: there's no reward for it. nobody gives you a big prize if you make it to 50 or 30 years. >> except for eternal ones. younger people, also all want to get married. hope to stay married for life. and hope to stay faithful to the same person. the question is, how to do it. i asked the oldest americans to find out. gerri: that's exactly what you did. what were the big life lessons you learned in talking to those folks? >> you know, if we want to start out -- how do you know the person that you're seeing is the one who is the right one for you? the first thing they say, oppose may attract in the movies, but in
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real life, not so much. [laughter] so you should marry someone a lot like you. they say before you get ready to commit, do something difficult challenging, strenuous like go on a camping trip or paint a room together. gerri: painting a room together let me tell you, that is plenty challenging. you even have a money lesson for us about money and marriage. you say avoid debt. why? >> your psychiatrist will ask you to figure things out for yourself. the older americans tell you what to do which is cool. couples argue all about money. there's a magic bullet not tolerance that. that is toto do that. hate debt. get out of debt and stay out of debt, you have an easier road in your marriage. gerri: from your book i want to read a piece. be extremely careful about who you marry. it's important to pick someone who is a good
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candidate for marriage. you can't make something out of nothing. what do you mean by that? >> you know, the elders believe in love. don't park your reason at the door. is someone a good provider? gerri: that's old school, my friend. am i to pick a wealthy guy? >> absolute not. someone who has a work ethic and knows how to manage money. even if it's about love, it binds you inextricably to someone else's situation. make sure if you agree if you want to have kids or not. gerri: you say core values need to be similar. how far do you go? >> young people usually don't ask one another until they're pretty serious. do we feel the same thing about how much time we put into our career? do we feel the same about money, about sex, about how we'll raise our kids? a lot of fights are avoided if you share those same core values.
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gerri: it sounds like you say relationships are very much the same as they have been in the past. yet we see this high incidents of divorce of people in the 60s and 50s. what's going on? >> folks at that age realize they have another 30, 40 years. how will they make it? it's women initiating it as much as men. you need to try try and try again. when you've made it for 60, 70 years it's like no other experience on earth. that's what they can help us do. gerri: i've clocked in at 20. hoping to go for 30, 40 50. thank you for coming. >> thank you for having me. gerri: still to come my "2 cents more." are you tired of the winter weather already? are you dreaming about the ocean and the sand between your toes? we have the best beach
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call now, request your free [decision guide] and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ gerri: if you're feeling the winter blues this week. only 52 more days until spring. in the interim, why don't we talk about some beach homes. beautiful beach homes where you can think about that summer warmth. antonio, buying a beach house, it's worth considering. >> property is worth it. we'll put it that way. it can be expensive, but you also need to think about, do you want to be right on the beach? right on the sand or are you willing to back up a few blocks, in which it would be less expensive.
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gerri: get a block away. the average vacation home, $168,000. something like that. it depends on where you are. >> definitely depends on where you are. gerri: you can spend what you want to. >> you can. there's some undiscovered communities as well. gerri: i want to hear that story. >> in malibu. i said not everyone has to live in malibu. malibu has been discovered. gerri: that makes sense to me. let's talk about what people need to know before we get to these pictures. about buying that home. >> i think it can be like falling in love. you want to make sure it's not just infatuation. sometimes people go on vacation and then they want to buy a house. make sure this is a place you want to spend your time. make sure you know the neighbors. is it commutable? will you be able to go to it frequently? gerri: that's my argument. i want to look at these beautiful houses. you have some folks we know and don't know.
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allen has been on this show many, many times. you have pictures of her beach house. >> she has made dramatic and bold choices when it comes to color. this is a moment where people can express themselves. she did. with contrasting fabrics and lots of blues. she did a terrific job. it looks beautiful. gerri: i think of white, white white when i think of beach how this and subtle pamela anderson of course. >> pamela anderson does like white. it's very girlie, white quiet and restful, her home. what's nice about white it's classic. great choice for beach owners. it leaves the view as the star. that's what you want. if there's beautiful blue water out there, let it shine. gerri: you want to see it through the window, absolutely. there's also the beach house that makes you feel like you're outside outside. >> jack jackson's house
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is perfect example of this. all about clean oceans. it makes perfect sense for a boy who grew up in hawaii. now back home. his house is reflective of the environment around him. lots of bamboo. dark woods. turquoise. antique furniture. he loves driftwood. collects found objects and puts it together. gerri: the other person you have is mitchell gold the famous furniture designer. interesting story. he has a house in carolina that kind of uses the stuff he designed. >> it's a lake house. what we love about mitchell's house is it's collective -- you don't want it to be cookie cutter. he has a wall, for example, of curated art, about 20 years' worth of paintings he collected. many from artists he met and knows. when you bring people to your home, they learn about you and your personality through your house. gerri: i love that. let's go through some of these trends.
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the first thing you say don't expand your square footage by being outside. right? >> it's a way to expand your square footage without building. people are reaching to the outdoors with windows that expand. doorways that disappear. outdoor kitchens. furniture now that looks exactly like indoor furniture. it's iit's a wonderful way to use the outdoors in your living space. gerri: i love it. we'll be right back.
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nice photo ops. not much substance. that's my "2 cents more." that's it for tonight's willis report. have a great night. we'll see you right back here tomorrow. charles: i'm charles payne and you're watching "making money." stocks plunged today. at one point, the dow off 100 points. the damage reflecting all areas of the economy, from technology to global junction construction to consumer staples. where do we go from here? the strong earnings after the bell and the carnage after the bell. let's go to nicole petallides at the floor of the new york stock exchange. i know it's tough down there. >> no doubt. tough day on wall street. selling across-the-board. we did come up off the lows. down nearly 400 points. we saw some strength. utilities tried to give it a go. some of the drug stocks also. the pressure was certainly on. tech stocks were under pressure. many of the dow stocks, including
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