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tv   The Willis Report  FOX Business  March 3, 2015 5:00pm-6:01pm EST

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get 100 million-dollar payout for one work, why not. great to see you, jesse. david: are you going to the grateful dead? >> i think i will go one night. got hall pass for one night. david: good for you. "willis report" is next. gerri: hello, everybody, i'm gerri willis and this is "the willis report," the show where consumers are our business radical plan from the white house. president obama raising your taxes by ignoring congress and using executive order. >> this is a lone wolf president who has no regard for the limitations on his office. >> israel's prime minister make as strong case before congress for tougher action against iran. >> iran's regime is as radical as ever. its cries of death to america that same america it calls the great satan, as loud as ever. gerri: we have analysis of a critical moment in u.s.-israel relations. brazen robbery on one of the busiest highways in the country. $4 million in gold bars stolen.
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>> it is scary. scary knowing, i was could have ran into it or something. >> also, our users guide to paying for college. we'll crack the code on getting more financial aid. >> 2/3 of people receive some sort of financial aid. it is $150 billion worth of aid out there. gerri: stuck on a plane. a 50-minute flight turns into a nine-hour nightmare. so why does the airline get a free pass? >> tensions are high. >> all that and more, coming up on "the willis report" where consumers are our business. ♪ gerri: here we go again. president obama flexing his muscles considering bypassing congress in order to pad the government's pockets by raising taxes through executive action. here is what white house press secretary josh earnest had to say about it today. >> the president has asked his team to examine the array of executive authorities that are available to him to try to make
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progress on his goals. i'm not in a position to talk about those in any detail at this point but the president's very interested in this avenue generally. >> very interested. joining me now to discuss this is national taxpayer union president pete sepp. editor-in-chief of the "national review," rich lowery. rich, i will start with you. my big question tonight, could the president really do this? cot president do this? does he have the power? >> well, this is something would be clearly in violation of the spirit of the constitution. saying we fought the revolution over but extremely worrisome that josh earnest was leafing the door open like that. because you look on immigration, the president's unilateral actions there, they're completely ruling them out for a long period of time. the president over and over again saying i didn't have the authority and he went ahead and did it anyway. so what does that tell us they're saying he is very interested in doing this immediately after it is floated. gerri: pete, to you, have you ever seen anything like this
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before? >> i've seen a few things like this but not to the same degree. we had of course during the clinton administration a big controversy over the universal service tax so-called e-rate to provide more internet service and hookups to schools and libraries. that was levied by the fcc without congressional authority. gerri: i'm talking about the white us, the white house saying, i want to raise taxes here? i've got the middle class on my list. i'm going to take out the 1%. they're going to pay -- this is kind of rhetoric we hear and now it will come directly from the president himself? that has never happened, has it? >> yes. see that is a pretty big difference here the treasury and other federal agencies embarked on these things with the tacit white house blessing. this could be a direct assault on taxpayers. we're talking a lot of creativity here. the thing to remember, gerri for every word of statutory
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language in the tax code there are three words of administrative rulings and guidelines and implementation. that is where they will find the mischief. gerri: exactly right. they end up doing with the agencies bureaucracies, end up writing these rules. >> yes. gerri: rich, to you, the executive order seems to be the president's two favorite words in the english language. we seen him come out on many things, immigration among them. how far can he go? what is the limits here? >> this is preferred method of governing since he lost congress in 2010. turns out what he is really good at. he hasn't been able to persuade the country on anything and move the needle on public policy he doesn't have the taste for going into the halls of congress twisting arms. that is not what he does. governing on his own turns out to be his strength. of course every law is written to have a little give in it to actually be administered in the real world but you can't take
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that make up law on your own and that what is they have done in whole host of areas from obamacare, to immigration. perhaps now to this. gerri: seems outrageous to me. of course judge napolitano on our air calling the president a lone wolf. pete to you the president has tried to get a unabout of tax increases through. walk some of the ones we see by governorgovernment fit yacht. what are they? >> of course senator sanders sent a letter to the president saying there are half a dozen things he could enact through executive order worth $100 billion over a 10-year period but there others they might fiddle with. how about the energy taxes ones on oil and gas for dual capacity manufacturers? make find language to rewrite definition there is, suddenly take those away from oil and gas produce years death tax increase. you mentioned the energy tax hike. a fee on financial companies. >> yes. gerri: he talked about that,
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what he calls middle class tax relief. never turns out -- promise is always bigger than reality. to you rich, don't you think there will be uprising? isn't this how this country got started in? >> of course. what i thought there would be uprising over a whole host of other things as well, including immigration. we've seen republican congress just fold on that one. but this would be so blatant, i think it would create a major reaction. but i thought that about the past actions as well. the president's attitude was look i am going to do it, see what you can do to stop me. because anything you will pass i can just veto. if you shut down the government, i will blame you. gerri: isn't that why we have three branches? we have three branches so they can talk, get together and find common ground, so that policy isn't the idea of one person or one party, but a multiplicity of voices? >> of course. the idea of the president would propose something in his budget. because he can't get it through congress go and do it on his
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own, whether a court will actually strike that down, that is deeply violative of the spirit of the american constitutional order. gerri: well, i know you guys will be watching this one. thanks for coming on the show. pete and riff, thank you. appreciate tour time. >> thank you. gerri: what do you think? is obama abusing his power with executive orders? log on to gerriwillis.com and vote. i will show you the results at the end of tonight's show. on to your wallet. nationwide gas prices are dropping for some time. prices slowly creeping back up. now electricity prices hit all-time high setting a new record. will this continue? joining me conservation ceo. good to have you on the show, todd. thanks for coming in. we all watched gas prices like a hawk, right? we have those numbers every single night in the show. we don't talk about electricity prices but boy, they are on fire. tell us about it.
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>> well the energy index hit a all-time high on january. at the same time gas index is at five-year low. it is interesting on two very different cycles. really. utilities apply for electric rates, one year in advance and approvals right now for 2016. a lot are asking for hikes. anywhere from five to 30%. gerri: this is baked into the pie. decisions get made fairly early on. what are the dynamics behind this? what is causing this? utilities have smaller expenses. they have a lot of aging structure for the utilities. so there is a lot of reinvestment that they need. they're also applying for some of the hikes and some of the filings, because of storm
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readiness and preparedness, hurricane sandy was just two years ago. they're recovering from much of that. they're also recovering from the record cold from last year and from the high costs of fuel just one year ago. seems they were doing last year's filings. asking for increase this is year. >> want to show folks a number here. 13.8 cents. that is cost of a kilowatt of hour of electricity. and that is the highest of the costs of a kilowatt in any month ever. we're at new highs. didn't mention something, todd in list of things driving prices higher. this is something i worry a great deal b. president's war on coal. plants are coal-fired. coal generates 40% of the american electricity. keeps us insulated, from price hikes outside of this country. now the president basically, raising the standard, raising the stakes on emissions at these
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plants so high, that it is essentially makes coal-fired plants obsolete. doesn't this play a role? >> president's plan through epa announced last year had four major components to it. one conversion to cheaper fuel. or to more cleaner carbon free fuels like natural gas. two, energy efficiency programs, like what we run at am conservation group. third piece is renewables wind and solar. a great piece for your future. fourth piece is trying to clean up coal plants. gerri: i got to tell you. i think this policy has gone way, way overboard. predictions now, what is going on with electricity prices we just described. this is beginning what we'll see. all due to this zealous, overzealous i would say attitudes towards, coal-fired plants in this country. todd, thanks for coming on the show tonight. great to see you. >> you bet.
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thanks nice to see you too. >> still a lot more to come this hour. including new advice for fidelity investments saving for retirement. day two of userses guide to pay for college. hope you negotiate the offer. get more money from the financial aid officer? we'll show you how. ♪ at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason.
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at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping. gerri: financial aid officers don't want to you know. you can negotiate those hefty college price taxes but there is a catch. tonight our user's guide paying for college, with advice cutting, cutting your college costs. we have the founder and president of campus consultants is here with us now.
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welcome back to the show. you're author of paying for college without going broke. i want to mention that. >> thank you. gerri: start at the beginning. so financial aid officers they don't put it out on your website, come on in negotiate, but you can right? >> yes. you can do that. you can appeal the aid offer. you want to be prepared and do your homework, want to be prepared to provide additional documenttation to prove your case. gerri: so what proportion of these schools will allow to you have a conversation about this, appeal the aid? >> actually most schools will allow to you appeal the aid offer. >> how many of them will actually grant you better a offer? >> sometime, some schools, 50% of the time, the appeals approve. colleges don't want to necessarily advertise that most schools engage in financial aid leveraging. gerri: what is that? >> that is a practice the colleges figure out how much you are willing to pay before you cry uncle saying we can't go. trying to get you to pay most
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amount. you are trying to pay least amount. you need to have poker face and do your homework. gerri: walk through this. next six weeks, students all over the country get admission offers. not far behind comes financial aid package. that is what mom and dad pay attention to. for prices of college through the roof. you say don't do anything unless you get all offers in hand. >> right. because you want to compare them to see how the offers are. certainly by the beginning of april at most schools you will have those packages. so, that makes sense to bait. it also -- gerri: compare them right? >> you can compare them, yes generally looking at cost of school. tuition fees, room and board, books, transportation. trans-- looking at -- when you get offers actions speak louder than words. moment you get the offer, you're on the phone calling aid office. they know you're desperate to go. they're not necessarily going to
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be giving you more money if you have a poker face. so you want to, be savvy with negotiations. gerri: take a little time. we'll try to leverage what we know to be advantage of our situation. which is fewer kids applying to college. going to college right now. they want to fill those seats. now you do say you do call the aid office now. how do i approach that? >> okay first thing you want to do call them, when is the procedure? some schools will have formal, applications forms to fill out, to request an appeal. gerri: okay. >> others tell you to write a letter. you want to they first of all? gerri: how do i do that? >> call aid office. what is the procedure. got the aid package, we're grateful we're accepted but i don't think we will be able to attend. what is the procedure to appeal the package? don't say negotiate. don't say bargain. say appeal or request reconsideration. gerri: requests reconsideration. to them negotiation is dirty word. you know how colleges think, is that what you mean? >> knowing how colleges think you need to understand how they
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have taken your information put on aid form and determine eligibility for assistance. you want to know homework. my book, for example, we go into detail about the formula. you want to get savy about it. so you know how they're making decisions. what factors they took into account. more importantly know what extra information you can give them to tilt things in your favor. gerri: you say present your case. that is part of it, right? tell me kinds of things that will force them to give you more money. you make them think twice, give you a better deal. >> okay. change in circumstances, certainly. might be live in new york, which has a very high cost of living new york city. because the formulas don't take into account regional differences in cost of living. may be supporting older relative. may be high medical expenses. other factors could be helpful. gerri: dad losing job. mom in the hospital. another kid in the family. another child going to college that year. any of these things will cause them to reconsider. >> right. >> cal what if i to the really
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great offer from another school? >> good you brought it up. i was just going to mention that that you need to be very tactful how you present that. most schools will not admit that they will meet another school's offer. gerri: but they do, come on. >> they do that as long as competitor school. in other words certainly if it's a much less selective school doing that. they won't compare merit aid to need-based money, but that is why you want to, again do your homework, to present some other additional information so for their statistical purposes they don't have to admit the reason they gave you more money simply because you show a competitor's better offer. gerri: great stuff. parents are eager for this information. we're pleased you brought it to us. thank you so much. >> always a pleasure. gerri: many come up tomorrow, our user's guide for college, how to pick schools not only best place for you but the best place for your wallet. if you have questions for
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yourself or soon to be freshman in your life let us know on facebook and twitter. email me at gerriwillis.com on friday. we'll have roundtable of experts answering all those questions. later in the show, we'll break down israeli prime minister benjamin netanyahu's speech to congress today. will the white house listen to his new words of warning. next, look out for you and your money with advice for planning on retirement when you're solo saver. no match. stay with us. ♪
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gerri: talk a lot on this show about how americans are not saving any of for retirement. according to federal reserve
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30% of americans have no retirement or pension savings. now fidelity investing is stepping into the gap coming up with a plan it thinks will convince more americans to save retirement. senior vice president for retirement joins us. lauren, thanks for coming on the show. i saw in my notes interesting stuff from you about how people are really incented to save in the work place when they have a company matching them. by those company dollars, those corporate dollars. tell us about that. >> yeah. absolutely. when we looked at savings crisis in america we really tried to think about what has worked, in terms of really helping incent people to save more for retirement. certainly one of great in this plan has been employer match. it helped people get in the game and understand there is real benefit to saving. so what we were trying to do is think of a way we could take that concept, take what's worked to bring it to the ira. gerri: you have a match program.
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you're pretending to something on order of a company match program for people who are solo owners of their ira and come to you, to save. so here is some of the program details. i want you to detail what i'm talking about. investors with ira accounts worth 10,000 are eligible. that is where you draw the line, right? >> so, in order to take advantage of this match, people need to transfer an existing ira, traditional roth or rollover ira to fidelity then they qualify for a match. and the way this works is that fidelity provide a match on their future contributions, into that ira, up to 10% for three consecutive years. so the real idea here, is about incenting positive savings behavior. by partnering with our customers, and saying when you contribute to your ira for the next three years, we'll help give you a boost and help you save even more. gerri: so the match is on the
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order of one to 10% depending what your balance is, how much money you have in that ira. from what i understand, from our producers, the maximum reward over three years is nearly $2,000, 1950 bucks. do we have that right? >> that's correct. that is the maximum reward that you can get over the three-year period of the program. gerri: so i took a look at this lauren. i have got to say, i thought this is a great way to spend marketing budget. if you want to continues to rollover at fidelity, there are literal millions and millions of dollars at stake in this marketplace. i'm sure fidelity would love all of it. this is one way to do it. do you have a total nut you're willing to spend for this? is there ceiling how much fidelity will put up? >> you know this is really again about putting something out there that encourages people to take action. unlike in a work place plan, where a lot of automation has been put in place as you know, through default investments and
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things of that nature, with an ira, people need to take action and they need to do it every year. so if it we're able to get people to act that will benefit the customer and -- gerri: my question was this marketing dollars. let me get to you answer what david boch said to us other need on the show about the program. david bock personal finance expert. >> it was genius market, unfortunately you have me here talking about this now. media picked up fidelity running campaign, 10% match. it is not really a 10% match. one of these commercials say where is the beef? when you really look at the real offer here, there is what i would call no beef. >> and lauren, how would you respond? >> you know, would i say that every little dollar counts. and the impact of this offer is not only in the absolute dollars that fidelity is matching. it is in the actual contributions that the
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individuals making continuously and consecutively for three years. if that gets people to take action, then this is a win for the customer and certainly it is a win for fidelity. gerri: certainly a win for fidelity, that earns customers with accounts of 10,000. maybe 200 bucks? maybe 3,000, $2,000 depending how much money you have in your account. lauren, thanks for coming on to explain it to us. appreciate your time. >> great. thanks for having me. gerri: coming up believe it or not more winter storms wreaking havoc on much of the country. next, prime minister benjamin netanyahu issuing a warm thank you to the president who refused to watch his speech. we'll have latest from congress after the break. you, my friend are a master of diversification. who would have thought three cheese lasagna would go with chocolate cake and ceviche? the same guy who thought that small caps and bond funds would go with a merging markets. it's a masterpiece.
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other stories in the news. the house passing a bill to fully fund the department of homeland security. it doesn't include restrictions on president obama's immigration orders. funding runs out on friday night after a week long extension. former cia director david petraeus pleading guilty according to the justice department, a plea agreement has been found. the nasdaq is pulled back below 5,000. the decline came after the index closed above that milestone for the first time in 15 years. the dow and s&p hit new highs. the fda warning about the overuse of testosterone drug taken by men. they are not proven safe for treating -- drugs are only used to treat low testosterone drugs caused by disease or injury.
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those are some of the stories in the news tonight. this story, we've been following all day. israeli's prime minister benjamin netanyahu made a stirring speech on congress today. almost all our elected officials were there. at least 50 democrats ignored the speech and didn't show up. the president didn't listen. netanyahu said not to ignore the terrorist threat from iran. >> the enemy of your enemy is your enemy. the difference is that isis is armed with butcher knives, captured weapons and youtube. whereas iran could be armed with nuclear bombs. >> with us, fox news terrorism analyst wally. thanks for coming on the show. i'm so pleased to have you here tonight. i know you listened to the speech. we all did. it was so stirring. i'm wondering tonight what your reaction is. >> the reaction, gerri is that this is a speech that represented probably not just the
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opinion of prime minister netanyahu but remember, he was invited by this new majority in congress. and if you read the proceedings of the hearings of this majority and even of the previous majority in the house, you will see that these are the same arguments. so this is the reality that we need to understand. he's not just medaling in us politics. they called him. (?) but one more point, very important region. he may have representatives also indirectly what many arab moderate countries wanted us to hear but they couldn't say it. >> very interesting. i think the most compelling thing he said was that this was an issue that was important to the survival of his country. not whether it's -- things will work out well but whether israel survives or not. he called this treaty towards a bad idea. the president didn't even listen to the speech. what's your reaction to that?
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>> well that was a bad idea, actually. because had the president sent his representatives and had those 50 or so part of congress attended and made their opinions known, it would have been healthier for democracy. this is sending a signal to the world and the region that basically washington is deeply divided. that's not a good thing to show. we could say we have a disagreement on issues. to show a boycotting of a prime minister that is an ally. if he is an ally and comes, we should attend. leaders should attend. gerri: netanyahu put all this in historical context over centuries. in about 24 seconds, he described 36 years of middle east conflict. listen to this. >> that year, the zealots drafted a constitution a new one for iran. it directed the revolutionary guards not only to protect iran's borders, but also to fulfill the ideological
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mission of jihad. the regime's founder, ayatollah humaney comported his followers to execute it throughout the world. >> i wonder your response to that. >> look i wish this was president obama addressing the american public. addressing the middle east and explaining what the iran regime is all about. i'm writing a book on this issue. so to have an ally. for an ally coming and explaining to us what's happening in the region. that shouldn't have been the case. that's the last resort. the iranian regime and the islamic republic which had a long record maybe 40 years since the beginning of the revolution in attempting to harm the united states. remember the hostage taking. penetrate iraq, syria and now in yemen. somebody must tell the story to the american public and then judge if the deal makes sense or not. >> he did a great job of showing how our interests are aligned here.
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and how iran has directly hurt the united states. now, is it possible would it make more sense for our policy to be about halting iran's nuclear capability? our national advisor says no. what do you think? >> i think that should be a top priority. and what was said today in congress is that isis is showing us the low level barbarianism. they will be basically showing us their weapons with long-range weapons and nukes. and keep in mind they're fueling a lot of terrorist networks in the region, the second to al-qaeda and isis is basically hezbollah. and they're fighting in syria. the map has completely changed from the time when we engaged the iranians in negotiations. the iranians are all over the map. putting all these demands and coming after us, at the end of the day. definitely we need a different policy with iraq. >> before you go, you talk about the expansion in the middle east, why should we care?
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why should america be concerned tonight? >> because if iran gets to yemen gets to iran, and beyond and has those long-range missiles and finally get the bomb and have all these international networks of terrorists, this is the biggest terrorist network we'll have ever seen. >> it's a disturbing evolution of events. that's for sure. thank you for coming on the show. >> thank you for having me. gerri: when we come back, old man winter is not done with us next. snow will be blanketing the country. a one hour trip into a nearly ten-hour nightmare for texas travelers. we'll hear from one of those unlucky fellows coming pick up here's the consumer gauge with the numbers that mean the most to you.
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>> when it comes to the worst customer service in america, the airlines are high on the list. it's because of incidents like this. a few days ago an american airlines flight from dallas to oklahoma city, a flight that normally takes 15 minutes took over ten hours. one of the passengers on the plane. brandon sullivan. what happened. what were you doing? where were you going? >> i was traveling back from a business trip in pennsylvania. i was on the last leg of my trip from dallas to oklahoma city. >> what did they tell you was going on? they kept you on the tarmac for a while. they allowed you to get off. but this was hours and hours. what were they telling you during this time? >> well, the pilot was trying to communicate and everything that he could. at one point there were 100 planes on the tarmac. some trying to get to a gate.
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there was no place for us to go. even when we were ready to push off, there was no room to take off. >> you took some video of the inside of the plane while you were there. nine hours for a 50 minute flight. did it strike you that maybe it would have been a better idea to drive? >> absolutely. i thought many times about getting out and renting a car. but i didn't really want to forfeit the money for the flight. but it was definitely a thought especially after that eighth and ninth hour. >> you see people here talking to each other. some people standing up. it's such a frustrating situation. i'm sure you were frustrated. here's the rule from the government about the delays. the new rule permits an airplane for remaining on a tarmac for three hours without deplaning passengers. did they manage to skirt this rule a little bit by allowing you guys off for a while and if so why didn't you get off? >> well i actually was able to get off five or
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ten minutes and grab food across the gate. i think they were able to skirt this rule. i think the second time we came back in, we were at the -- on the tarmac for about two and a half hours. but the first three to four hours we actually spent at the gate. that's how they were able to circumvent that three-hour rule. >> how frustrated were people on the plane? >> they were getting very frustrated. tempers were really getting high. you know, there was a lot of swearing actually. and a lot of visible frustration adults were kicking the back of other seats. it was really something to see. >> here's what american airlines said. flight 382 from dallas/fort worth was delayed because of extreme winter weather. the plane was parked at the gate for most of the delay. customers were free to exit the aircraft. we apologize for the experience. the safety of our passengers and employees is our top priority. you say the pilot was a
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nice guy and seemed to be communicating to folks. what about the faa? what was going on at that airport that they completely forgot you guys for about nine hours? >> yeah the pilot was very good at communicating everything that he had heard. after about that third hour he came on and said they stopped talking to me. air traffic controller told him, we'll get to you when we get to you. even the pilot wasn't getting updates. and we were forgotten about. >> before you go, do you think they should change these rules and make them tougher? >> absolutely. i don't think that, you know, the clarification between gate and tarmac should be any different. we were on the gate for nine hours. >> $279 that's what they're supposed to pay for every customer stuck there. not doing it this time. brandon, thank you for coming on the show. the winter weather keeping the plane on the ground. it's not over yet people. heavy snow falling in parts of the midwest.
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minnesota iowa, wisconsin. the blizzard conditions moving east. rick is in the weather center with the latest on the system with 140 million folks in the crosshairs. rick. >> moving east and south. different pieces of energy coming out of california causing big problems. boston we've been talking about it for six weeks now. we're about two to 3 inches below your snowiest season ever. as we go through the next week, i'm sure we'll get there. this is a storm. parts of it across the rockies. getting more snow. we'll see this develop across parts of the deep south. across parts of the mississippi valley. to the ohio river valley. again throughout the northeast, winter storm warnings. kentucky. across arkansas. freezing rain. especially in the higher elevations of arkansas, areas pushing up to eight, 9 inches of snow. this is the future radar. what we'll see.
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snow throughout the night tonight moving through new england. warmer air moves in. we'll see a lot of rain on wednesday in new york city. and down across parts here of the southern ohio river valley. then you see that narrow band there of white. that will be very heavy snow developing. we'll see a stripe of some areas that see maybe 8 inches of snow. new york city five or 8 inches of snow by thursday afternoon. more coming. then behind this, the cold air comes back. big warm up across areas of the south. watch what happens on thursday. little rock, 34. chicago you're back to 16. thursday night into friday morning, get ready gerri, we'll be seeing a lot of temperatures breaking records again for overnight low temperatures. exactly what you don't want to hear. nothing but bad news from me right now. gerri: so how many days until spring? >> march 20th. we're 18 days away. seventeen days away. it will happen. it will happen.
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the sun always wins. >> rick thank you. >> you bet. >> still to come, my "2 cents more." next a massive gold highest on a north carolina highway. how thieves managed to get their hands on 4 million dollars' worth of gold. the latest after the break. ♪
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♪ gerri: the fbi is joining the manhunt tonight for three armed men who robbed a tractor-trailer with a very valuable cargo. nearly $5 million in gold reportedly golden bars. maybe like this. it all happened on sunday night on the stretch of i-95 just outside of raleigh. adam shapiro is
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following the story and is with us now. i want to play the 911 call of this being called in. listen to this. voice: emergency. >> i'm on i-95 at mile-marker 114. there's a couple guys that looks like they have their hands zip tied behind their back. a semi-truck. kind of waved people down to call the police. gerri: so this is an amazing story. basically a heist of gold. shout out arthur gave us this gold to show. >> this is a 1 kilo bar. i want to show -- i don't know if we can zoom in. there's a serial number stamp on this as well as what's known as a hallmark. depending on the kind of bars that these men were able to steal. which camera should i hold this to so i can
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get the -- zoom in. this 1 kilo bar. the most amounts of gold that are sold in this country. anywhere from 1 ounce to 1 kilo. 100 ounces to 400 ounces. they have these serial numbers on them. they can be traced. the only way you stole something like this, you have to melt it down. now, already throughout the industry of the dealers, the people who sell this kind of stuff remember the smaller bars will have identifying numbers. you can walk into any store off the street. you can walk into any store off the street, and you can sell them. here's where it gets very tricky. the dealers are being notified if possible what numbers correspond to what was stolen if they were bars. gerri: don't you think these bars have already been melted down? do you think for one second -- >> it's happened before. it happened in december. gerri: do you think bars even exist anymore? >> in december, an actual armored truck vehicle was robbed.
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they got silver bars. they were able to catch the people when they tried to sell them at a depotstory. come back tomorrow. >> if you are trading in this material, you don't report the purchase and sale of gold unless someone pays for the gold in cash. if you pay in cash over $10,000. that sets off alarm bells. all kinds of things that could happen. the only thing to identify them are the serial numbers. do we have to give this back? it's like a hershey bar. >> no we'll give it back. we'll be back with my "2 cents more." and the answer to my question of the day. is obama abusing his power with executive orders? stay with us.
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gerri: now, we want to hear from you. president obama is threatening to issue yet more executive orders. this time raising your taxes. is he abusing your power? here's what you're tweeting me.
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mike writes this: he's been abusing his power since he took office. steve: absolute power corrupts absolutely. on facebook, timothy: yes, he is why we do need a congress especially it happens to be the opposite party. he won't use them at all. david says: with a president like obama who needs congress. in addition to following me on twitter and facebook, be sure to like fox business on facebook. here's some of your emails on president obama's track record. if obama doesn't know what he's doing, we're in trouble. if obama does know what he's doing we're in really big trouble. steven: president obama's domestic economic policies are absolutely having a negative impact on the american middle class. his policies are serving to disincentivize work or wage earning while incentivizing nonparticipation by rewarding it. i think you got that right. send me an email.
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gerriwillis.com. take a look at this. 93% of you said yes, president obama abusing his power. be sure to log on to gerriwillis.com for our online question every weekday. here's our kicker story tonight. canada taking their tribute to leonard nimoy thanks to a twitter campaign they're changing the face of canadian currency putting spock sideburns over the former prime minister. take a look at that. on the 5-dollar bill. the lowest denomination of currency. he's from boston and not canada. as you know, he died at the age of 83 last week. those canadian bills are something else. all kinds of pretty colors. coming up tomorrow, our users guide to paying for college. advice on comparing schools. how to pick not only the best place for you but also the best place for your wallet. tune in for that. that's it for tonight's
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willis report. don't forget to dvr the show if you can't catch us live. making"making money" with charles payne is coming up next. have a great night. we'll see you back here tomorrow. ♪ charles: i'm charles payne, and you're watching "making money." the stock of the day best buy. posted great earnings. beat the street by 14 cents. issued a special dividend. fifty-one cents. raised their quarterly dividends. and they commenced on a buyback. none of these are why best buy is the stock of the day. december of 2012, best buy was absolutely crashing. it was plunging. back to the old decade lows. everyone wrote it off. the business molding was obsolete. but management made changes. these days many are writing off america for many reasons, but all agree, our best days are behind us. i can tell you one thing, america isn't an electronics supply chain

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