tv The Willis Report FOX Business March 24, 2015 5:00pm-6:01pm EDT
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we've been asking you if you think the president is taking right or wrong track on israel? mike says president is absolutely wrong in his handling of israel. they're our best ally in the middle east. giving iran favor over israel. david: a lot more. no time. thanks for watching. >> hello everybody, i'm gerri willis. this is "the willis report," the show where consumers are our business. many unanswered questions have a budget airline crashes in the french alps. >> no discall from the plane or the pilot. gerri: do consumers need to take a hard look at safety record of low-cost airlines. warning for parents who smoke. we'll examine a new study on long-term effects of second-hand smoke on kids. should people be able to wipe out a second mortgage in bankruptcy. >> the homeowners say the law allows bankruptcy court to eliminate second mortgages because they're totally worthless. gerri: we'll dig into this important case before the supreme court. what it could mean for all homeowners. a bombshell new report on
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how the irs handles your personal information. we'll investigate who has access to your personal data. and the company with one of the worst customer service records tries to win you back. >> help me understand why you can't just disconnect us. >> because my job is to have a conversation with you about keeping your service. >> all that and more, coming up on "the willis report," where consumers are our business. ♪ gerri: tonight it is being called a picture of horror. commercial jet plane carrying 150 people plummeting for eight minutes before slamming into a remote section of the french alps. all aboard including two babies and 16 students are feared dead. calling to question on budget airlines. the plane was 25 years old. the average age of commercial jets in this country about 12. the big question, do low-cost carriers crash more often?
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we're asking a former airline training pilot and your row space journalist and retired american airlines captain. phil i will start with you. we've recovered the black box. it is looked at now. it was said found in a field that was pulverized. how long does it take to get information out of a black box? when can we start hearing answers to what is truly a mystery about what happened to this plane? >> well, the black box that they have recovered we understand is the cockpit voice recorder. that is digital. and that will be able to be played with proper equipment probably within a day. now they will, the investigative department will probably take control of that to make sure that it does not get opened improperly or downloaded improperly to lose any of the information. >> well, i want to ask the same question, kathleen, to you. we're looking at a most recent pictures of the site here. you get a sense how rugged it is, how tough it is for
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investigators and people coming through the site to try to put together the pieces. when might we get answers? i think people are all asking the question why wasn't there a distress call? why no mayday? what is your best thought here? >> right. i think we'll get answers quite soon. this is such a better scenario than what was had with the recent crashes in indonesia. obviously we're dealing with a crash on the ground. the fact it is in the mountains, it is in the alps but the elevation of the wreckage is only five to six thousand feet. there already has been a lot of snow melt. one of the things that will really help investigators in this accident is that they have already recovered one of the black boxes. so i would not be surprised within a week we begin to get some data released that was on that black box. but, yeah, so far i it's a mystery but i think it will be solved sooner than some of the most recent high-profile crashes. >> phil to you a320, considered a workhorse for airbus. i think everybody has flown on one of these.
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what do you have to say about this particular airplane and the fact it was 24 years old? >> well, the airplane is a it's a current production airplane. it has had a c-check which they call heavy inspection within the past 24 months, which basically goes through all components airplane, structure, electrical hydro mechanical. so the airplane is brought up to standards to make sure that it is completely airworthy. so i think that because of the 24 years, you would say well that seems like an awful lot but with all the amount of the work that's done on the airplane to make sure that it is airworthy and brought to the current standards i don't consider that is a major fault of this of this crash. gerri: kathleen, do you agree? is there some issue with this plane, with this style, this make this model of plane? >> well, one of the things we're going to find out is, that it is a high cycle airplane. it has almost 50,000 cycles on
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it. that is a lot. it is all in how well it is maintained. one of the things that it has got going for it the parent company is lufthansa airline, which is very highly respected airplane airline not just in europe but worldwide. gerri: pardon me, when you say high cycle, what do you mean? >> that the airplane has flown a cycle which is take off to landing almost 50,000 times. so it is a short haul airplane. so that is a fairly, this airplane has been used. what the smoking gun on this with high cycle that it has on the air frame. the fact that distress obviously happened just as soon as they leveled off. they got to the highest altitude. the fuselage is under greatest pressure at that point within three minutes we have a descent. we don't have emergency descent but a controlled descent. seems some sort of an imagine. in other words the airplane was not out of control but seems like the pilots put it into
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stablized descent, which tells me possibly lost decompression possibly smoke in the cockpit. very mysterious why they didn't turn or divert biggest mystery, no call to air traffic control. gerri: no call to air traffic control and descending a rate of 4,000 every six minutes. >> right. gerri: can we get to this idea of budget airlines? we all book on budget airlines. phil, to you you flew on american, that is not a budget airline. is there any reason to think people would be less safe on a budget airline than they would on one of major carriers? >> i think not because the budget airlines, while they may have lower staffing levels, for a number of agents, they may have younger, longevity people at lower pay scales, they are still required to go under the same level of training and same level of proficiency checks as the main line carrier of lufthansa. gerri: kathleen, do you agree? we're looking right now at -- go
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ahead. >> i have got to disagree somewhat. years ago when valujet was in existence, people might remember valujet which became airtran. i wouldn't fly on valujet. the company tried to get us to dead head, dead head means ride in position to take your flight as pilot on valujet, i refused because they had bad safety record and bad training. i knew pilots very dissatisfied there. when you look at air ma share that -- malaysia. in years of record profits last couple years that company was teetering on bankruptcy. corners get cut on when they're losing money. i'm very leery of budget carriers. that does not mean this one falls exactly into that realm. lufthansa as the parent company has a excellent reputation. gerri: they do. eight million people fly every single day. safer than backing out of your driveway in your car typically. before you go, i phil, i want to
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get both of you to weigh in, if you're concerned tonight booking a trip, is there something in planning you can do that will reassure the family reassure you that to make sure you will be safe? phil, to you first. >> this is sort of difficult if the plane will crash into a mountain you can do very little. gerri: thanks phil. made me feel real good. >> seat yourself on the airplane, you could listen to the flight attendants, as far as stowing equipment, maybe being by an emergency exit. if there is reason to get off the plane if there is a skid off the runway and they will evacuate the airplane, you don't want to go back and get your purse or computer. you want to follow instructions. >> do what they say. >> exit the plane as quickly and efficiently as possible. gerri: kathleen to you, can i look up the age of the aircraft? can i figure out how long my pilot is flying? what kind of information do i have access to? >> you could if you knew way in advance pay attention. don't be a sheep on that
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airplane. pay attention to the first three minutes of takeoff, into initial climb. those ten minutes before landing, that is when the bulk of accidents happen. sit in back of the plane. sit by an exit if you can. don't have ear buds in. don't wear high heels. don't not pay attention. have the seatbelt on. be ready to brace or get off the airplane. if i was on an airplane, something happened, skidded off, anything happened, i'm not listening to what people tell me. i will get off that airplane. people have to have the mentality. get off that airplane as soon as asking goes wrong. you have about 90 seconds. a lot of survivable accidents before you will become overcome by smoke and fire. gerri: well, great advice. great perspective here to both of you. kathleen, phil, thank you for coming on tonight. >> thank you. >> still a lot more to come this hour including a new warning for parents who smoke. more debt forgiveness may be in the works as the supreme court will decide whether you can just erase a second mortgage in bankruptcy. we'll explain. we'll get your reaction. stay with us. ♪
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gerri: the supreme court, justices hearing arguments today whether second mortgage can be wiped out in bankruptcy. >> gerri, this case is legacy of those wonderful lending practices in the housing bubble when low lending standards allowed anybody to get a loan for anything for any amount. everybody thought that housing values would keep rising to the moon. two separate homeowners in florida got second mortgages from countrywide, which was taken over by bank of america. the housing bubble pops of course, homeowners saw property values plummet. got underwater. filed for bankruptcy. this case is fight specifically over those second mortgages. different interpretations of the bankruptcy code and earlier lawsuits involving second
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mortgages. the homeowners say the law allows a bankruptcy court to eliminate those second mortgages because, when they become totally worthless, that eliminates some of their debt of course but also may give them a second chance to stay in their homes by renegotiating a deal on the first mortgage. bank of america says, no way. in some circumstances a bankruptcy court can not eliminate the second mortgage. rightly some as home values have rebounded and it might now be able to collect on the debt. >> the question is when the house value has dropped so much that the second mortgage is completely underwater, does it remain a secured claim protected in bankruptcy? can it be treated like credit card and other debt or reduced or voided in bankruptcy? >> now the banks of course are watching this case closely because of bank of america loses, banks might be forced to eat billions on up to two million second mortgages that remain underwater. gerri? gerri: so, peter do the justice give any clue which way they're
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leaning? >> no. they asked mostly technical questions about bankruptcy law and those past cases. kind of hard to tell which they might be leaning from the questions but i do want to note from a comment from the key swing voter on the court, justice anthony kennedy, to the lawyer for homeowners. we ran the sound bite from him. he said, kennedy said, quote, it is hard for me to think a decision in your favor wouldn't hurt mortgage lending. the market for second mortgages would dry up. gerri? gerri: very interesting, peter. thank you. now to our guests. so what could the supreme court's ruling mean for homeowners? hear to weigh in rick sharga, option.com. barry spleen, ceo of new tech business services. i want to ask both of you, rick starting with you is this a good idea to forgive these second mortgages? does this make sense to you? why, why not? >> from a consumer perspective you would like there to be a way out for these borrowers who are underwater.
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but for all practical purpose this is is terrible idea. i think justice kennedy hit it right on the head. if you start forgiving these and wiping out second loans in bankruptcy cases, it really pretty much eliminates the market for second mortgages going forward. so borrowers who are already stressed out by too tight credit will have one less tool in their arsenal to be able to build their futures in the housing market. gerri: barry, just to play devil's advocate a little bit, 25% of the mortgages in florida are seriously underwater. how will these mortgages ever clear unless they're forgiven? >> well they will clear just based upon market forces. basically all these lenders negotiated on arm's length basis the right to have a lean on the property. we've seen these properties swing down in value and swing up. by takes it away, you're taking away option value the lender has on -- gerri: option value, what does that mean? >> it basically means the collateral is underwater today but in the future it could swing up. we're a lender. we've seen it happen many times
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today it is out of the money option to be able to secure the lean. but two three years, down the road it is actually in the money. that's what they negotiated. gerri: rick though, that is what people who are arguing for this case are saying. is that, the asset has no value. so how could i possibly owe money on it? how do you respond to that, rick? >> there is a couple of things. one thing we keep in mind, most second mortgages are not just attached to the collateral. they're actually a personal guaranty as well from the borrower. there is some impolice it value in the note even if the value of the property dropped significantly. most other parts of the country, this will occur in florida soon other are later. we've seen home prices recover. assets do eventually generate value again. as people pay down the principal balance and as home prices go up, you get to position where there second quit value in the property. gerri: hope springs eternal. most recent numbers out of the marketplace is foreclosures are running higher. what do you say barry? >> foreclosures are running
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higher. the market should be generated by general market forces and capitalism. let it work itself through the system. the less government interference and judicial system interferes with capital markets better off we all are. otherwise you will not get second mortgage money at any reasonable price. gerri: gerri go ahead. yeah. >> just to touch on your foreclosure point, i can't not talk about foreclosures. foreclosures are up but only because we're seeing loans that, borrower has intimated a payment, two, three, four years, finally working through the process in states like florida. so these are not new problem loans. these are -- gerri: these are old problem loans. very interesting. okay. i'm going to take off my hat as the advocate for people who are underwater and talk to you as a homeowner. both of you. what happens to me if the guy down the street gets a second mortgage forgiven? barry, to you? >> well, you can't just keep forgiving debt. that is unfortunately what we're seeing in society over the last
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three or four years, whether student loan debt, mother debt. gerri: amen, amen. >> there will be no funding mechanisms for people with good borers that want to pay an attractive price. gerri: rick, explain that a little bit. ultimately what kind of conclusions do lenders come to if they know that ultimately, if they make a loan to somebody they might be wiped away? >> so you think that ignoring 200 years of contract law is bad idea? gerri: i'm just suggesting. >> what happens inevitably in this case, we're going to see if there any loans available of this type. they will be much more expensive and they will only be available to the absolutely most qualified borrowers. and, they're tied directly into the collateral. so it will be much more difficult tore for average borrower to sniff at a second mortgage in the future if this happens. gerri: barry, very quickly harder to make loans but also will it hurt property values ultimately?
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>> it will hurt property values of people use property to borrow. small businesses take second loans out to gee their business, hire more people. it really helps inflate the property value by being giving access to more financing. >> all right. you know we have had numbers out this week that would indicate this housing market is still struggling even though new home sales were the best in seven years. i still think we have a long way to go. rick and barry, come back some time to talk to us about it again. good conversation. thank you. >> absolutely. >> we want to know what you think. here is our question tonight. should people be able to wipe out a second mortgage in bankruptcy that is? log on to gerriwillis.com and vote. i will share results at the end of tonight's show. later in the show, how much of your information your personal data, do former irs employees have access to? a new investigation has disturbing answers. and next, doctors turning their focus in stopping osteoporosis by looking at fellows yes, men who rarely get tested for the disease. we'll have details.
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light. liberty mutual insurance. ♪ gerri: it is often thought of as a women's disease right? but osteoporosis can affect fellows too and too many men they're not tested until it is too late. here to explain dr. kevin campbell. dr. kevin, i was really surprised about this story until i started thinking of older gentlemen who i have seen, they have that look, widow's hump we talk about. why aren't doctors having men tested earlier? >> just again a misperception. we think of osteoporosis as a disease of women and actually men are affected. when men are affected, it tends to be more severe and can really -- gerri: really? >> it can cause morbidity and
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mortality in men. gerri: what is the first sign? >> fractures in people who shouldn't be breaking wrists or arms or hips. if a man has a hip fracture, from osteoporosis, he is twice as likely to die in the next year. >> you're kidding me? that's horrible. >> it is awful problem. gerri: what they need to understand bone is actually a living tissue. >> so bone, actually replaces itself. it is always changing. it goes away and then comes back. your peak bone mass, you will love this when you're 20 years old. after that it is all downhill. gerri: thanks for the good news, dr. kevin. move on to a story out of finland. it is a study based on children whose mothers smoked before they have their baby. what happens? >> very interestingly second-hand smoke and smoke in utero can really affect these babies and actually can cause plaquings to form or blockages in the arteries in the next called carotid arteries.
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that can cause stroke later in life. gerri: in children? >> 2% of children in the study followed to adulthood had the plaques in their neck. stroke is one of the top six causes of death in the u.s. today. gerri: we're talking about mom. not talking about a dad who smokes right? >> in this particular study it was second-hand smoke from mom and dad. this is when they were small children. there is another study we'll talk about just when mom was smoking as well. gerri: tell us about the second study. >> the second study showed cool pictures from the ultrasound. gerri: we have those. >> inside the mom's womb, see facial expressions an movement of the baby. gerri: check it out. >> really cool stuff. when mom was smoking the baby was move their hands more and flail around. what we know is -- gerri: that the top line of pictures. >> exactly. exactly. what we know is that neurologic system develops we don't move our hands as much in utero because we have control. what it shows suggested there may be some neurologic
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impairment caused by tobacco smoke. gerri: there is simple solution to this. what is it? >> don't smoke. shouldn't smoke for your own health. certainly don't put innocent child or baby at risk. gerri: i think of what my mom did. moms in the neighborhood. they smoked. they drank. nobody thought a thing bit? >> i think we've gotten so far advanced what we know to prevent disease. it is so important we do prevent disease smoking is one of the best things you can do. tell my patients come see me month on end. if you stop smoking that is better than seeing me every day. gerri: wow, stop coming to the doctor if you stop smoking. >> stop smoking. gerri: dr. kevin, spoken like a true cardiologist. thank you. >> you thanks. gerri: as march madness rages on the debate overcompensating student athletes heats up a new report shows how much their coaches are making. dizzy israel that is, spy on iranian nuclear negotiations before prime minister benjamin
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ask your doctor about cialis for daily use and a free 30-tablet trial. ♪ gerri: welcome back to the willis report. in a moment, reaction to a report claiming israel spied on us iranian nuclear negotiations. but it's time nor a look at other stories in the news. french officials say a black box has been located at the site of the french alps where a german winged plane crashed. it crashed reportedly never sent out a disthe disthe rest signal. the plans to slow down the troop withdrawal from afghanistan. stocks slipping as investors digest two big pieces of economic data. rebound in gas prices lifting consumer prices for the first time in four months. a sign of inflation may
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be stabilizing. 8% in february, fastest pace in seven years. new york city food police introducing new rules, the amount of juice children can drink at day care. children must be two years old and only drink drink 4 ounces of 100% juice a day. those are the stories in the news tonight. you'll want to hear this. abuses being uncovered in the housing sector. an nonprofit to help homeowners reeling from the bust. where is the money going? homeowners may not be benefiting from this group. republican congressman bob of virginia, chairman of the house jewishjudiciary committee joins me now. before we get to neighbor works america i have to ask you about israel a report today in the wall street journal saying they spied on us iranian negotiations on nukes. what do you make of that?
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>> well, there's not much available information about it yet. the israelis deny that it took place. i think it's interesting that the administration seems more concerned that the israelis were allegedly going to share the information they found with members of congress than they were about the fact that they may have been spying on the facts in the first place. but we're interested in finding out more about that. >> do you oppose the deal with iran? >> i do oppose the deal with iran. i have every hope that we can go back to putting greater pressure on iran because i really think that that's what it's going to take to get them to actually move away from nuclear weapons and allow the kind of full inspection that it would take to cause anybody in the west to trust that they are indeed not producing nuclear weapons. gerri: all right i want to transition to the neighborhood works america story. this congressman is fascinating. unfortunately, not very
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surprising. so a nonprofit getting $2 billion from the federal government, presumably to help people who are underwater in their mortgages. to give them money. help them out with their mortgages. that's not what really happened. tell us what happened. >> what really happened was that the administration entered into settlements with major banks in which they incentivize organizations like la raza and neighbor works to get payment from the banks at a higher rate of credit than they would if they simply gave the money to the government for the benefit of taxpayers harmed in the first place. it was like an incentive deal if you give money that we tell you to distribute it, we'll give you more credit than if you paid the fine if you negotiated the settlement. the problem is it bypasses the congress and our oversight of these programs and these
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nonprofit organizations that -- >> that seems to be very common these days, i have to say. another worrisome part of this are the sweetheart deals. neighborhood works employees who got no big contracts on this. where is the oversight on this? >> now, that we've become aware of this through the settlements in the bank, we demanded that the department of justice provide us with documentation behind all this. between us and the financial services committee chaired by jeb, we intend to get to the bottom of this. this has all the makings of the problems we had several years ago with a acorn and other organizations getting sweetheart deals other than helping the american people. >> here's the neighbor quote. they say. we continuously enhance our environment and address any weakness including those identified by auditors in order to excel in the
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work we do as trainers, administrators and grant makers. i've looked at this for a couple of days, congressman, and it seems to me that this was not an organization that was prepared to take on the amount of work the amount of responsibility, and the amount of federal dollars they were given. what's your analysis? >> everything i have seen would agree with your analysis. we want to get more documentation about this. but this is an organization that i do not think was ready for prime time, and i do not think is in the best interest of the american people in terms of getting dollars. and particularly the enormous dollars that they've received ostensibly to help people with struggling mortgage situations. instead, what we're finding is that the executive branch is doing this in conjunction with these organizations, outside of the oversight that should be taking place both here in the congress and the department itself. >> a brand spanking new
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scandal. the people who are on the board of this organization shocking. congressman, thanks for coming on the show tonight. appreciate your time. >> thanks, gerri. >> when we come back do former irs employees still have access to your information? shocking answer coming up. comcast one of the most hated companies in america making major changes to the way it does customer service. here's your consumer gauge with the numbers that mean the most to you. stay with us. ♪
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the government accountability office which says the irs has had consistent problems with its security measures. with more on this, john. what they're saying here is that former employees can have access to your data. how is this possible? >> well, i guess there's a lag between the time you leave the agency and when they finally turn off the switch. i guess what happens is when you're at the agency and you're lois lerner, you lose all your emails but you can get access to everybody else's once you're gone maybe. gerri: that's the way that works. here's what we see in this report. lacks in requiring good passwords. like 123. 456 kind of thing. passwords aren't changed very often. here at fox, they're changed all the time. and too many people have access to critical data. it seems to me, if you're dealing with the nation's financial information, you might want to think about having stricter standards. what do you say?
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>> for 20 years the irs has tried to revamp its computer systems. >> what happened? >> well they never seemed to get it right. and now we have a situation where obamacare is forcing the agency to take on many new responsibilities. not their fault. so millions of people are potentially going to be fined because they don't have health insurance. that means that only about 43% of people who call into the irs for tax advice are going to get an answer. because they're no longer forced on their core mission. they're focused on enforcing obamacare they won't do either job well, this will. >> this will be the worst year for irs services in years. simple number in how many phone calls they're taking up. your report is interesting. they're enforcing social policy now. right? >> and the supreme court
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case which gets rid of the exchanges are based on the fact that the irs made up its own rule as to how the exchanges would work and the subsidies would flow. i think they'll get slapped on by the supreme court. then it will be a mess. you have 12 states where people can get the subsidies. and 38 where they can't. >> you think they'll lose. that's interesting. i want to get back to this gao report. because the gao is typically understated. >> they're the green eye shade. >> they report in 2010, 69 reports only ten of them have been fixed. the rest have not. they're a little pissed. a little peeved. >> isn't that good enough for government work? >> not good enough for my taxpayer dollar. >> that's the problem. i think maybe the solution here is subcontract a lot of this out to visa and mastercard. they seem to get our credit card bills right. >> now there's a good
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idea. and you can at least call them up and say you're having a problem. they listen to you. >> i get through to them. >> that's a good idea. we should take it under advisement. good to see you. thank you for coming on the show tonight. on to another topic. another service provider working well. comcast has one of the worst reputations in the country. even the ceo said it's embarrassing. it's trying yet again to fix the problems. it's tripling the complaints on social media. content editor for consumer reports consumer blog called the consumerist. welcome back to the show ashley. what actually -- is this marketing and hype or actual real help for people? >> well we hope that it's real hope for people. the company has said multiple times that it's trying to revamp its customer service reputation. this is definitely a start. but comcast should also
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be really looking internally to kind of see where they can fix things so this doesn't happen in the first place. >> all right. so the thing we're talking about that was so offensive. there were actually a couple of things. there were letters sent out to customers that were frankly insulting. calling people names in their bills. we're not really clear on how that happened. and secondly, there's also the heavy hand they use to keep you as a customer when you try to get rid of the service. listen to this. >> can you please cancel our service? >> okay. but i'm trying to help you. okay? >> okay. the way you can help me right now -- >> by doing all this. i'm trying to help you. >> you can disconnect our services. that's how you can help us. >> how is that helping you though? >> because that's what i want. >> do you think that's getting better? >> you know, i haven't called comcast lately. so i can't tell you if that's getting better or not. it does appear that they're trying to make strides. whether or not that's really going to make a difference. only time will tell.
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>> a lot of these strides coming on social media. i wanted to read a comcast care tweet. they say excited to announce that we're tripling our social customer care team. #socialcustomercareteam. that's what they say. then one guy says worst customer in the entire world. thank you comcast. i never complain about businesses, but this is seriously pathetic. do you think this is an unusual point of view or do you think this is common? >> no, i think that's a pretty common point of view for customers. they're getting tired of being jerked around by different companies. but to comcast's benefit, they were one of the first major benefits to really take social media complaints seriously. >> well, i feel like we have a long way to go. what's your best advice tonight to someone who wants to end their relationship with comcast or simply wants to get something fixed? >> i think you have to be persistent.
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that's not what someone wants to hear. you have to be persistent and tell them what you want. >> can i talk to your manager? that's my big line. or conversely, that's not acceptable if i get an answer i don't like. ashley, thank you. the nfl making a major announcement about the way they broadcast some games more on the end of the blackout rules coming up. ♪
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let's not forget the slam-dunk salaries that college basketball coaches make. are they worth it? joining me now fox sports jt. so answer the question. millions and millions of dollars for these coaches. are they worth it? >> i think so, gerri because guys like mike tom, bill of kansas their teams are iconic brands. they get paid not only to win games and coach, but to recruit players and to bring in those shoe deals from adidas and nike. there's a lot that goes on from raising a young basketball player until they get their degree. and especially getting them on television and winning games during march madness. >> duke university. his total pay over $9 million. schools basketball profit from the program 12.8 million. look at rick, total pay 6 million. the school gross profit from the basketball program 4.6 million. i'm just going to run
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through these quickly. university of kentucky, total pay for the coach there, 5.5 million. total school gross profit, 7 million. the list goes on. billy at the university of florida. i think a lot of people will look at this and say, what about the people that play, shouldn't they get more money? >> absolutely. gerri, it's one of the biggest topics in sports. i've actually changed my mind over the last five years. i always thought the kids they're getting the free education that's it. give them a little bit of money. now with the billions of dollar, 20, 30 years ago, it was millions of dollars. now they're worth billions. because it's the players playing at the highest level. they should get more money. the problem is, if you're going to pay a basketball player on the men's team, you have to pay a gal swimmer or lacrosse player. everyone has to be paid because of title nine. that's a lot of money coming in. the ncaa doesn't want to
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turn into an accounting firm and give the money back to the players. >> as you said, without these players without these fantastic athletes, you have no game. i want to go to the nfl blackouts for a second. the nfl suspending its long-standing local blackout policy, which is frustrating to millions of viewers all over the country. what do you make of this? >> i think this is a great day for nfl fans. the nfl held fan -- they held these fans hostage for years. this rule came in 1973. last year, no blackouts. year before, there were two. back before the '70s and '80s. people didn't want to buy upper deck tickets so they stayed home. so the nfl used this to tell people in markets like oakland if you don't sell out the upper tickets we'll take that game away from you locally to watch. now that they've taken that away fans can breathe easy and know they don't have to go to the game. they don't have to be
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threatened to buy a seat in the upper deck. they can stay home and watch the game. because there won't be a blackout at least for one year. >> attendance figures are pretty high. right? >> yeah attendance is not a problem. it's about the business side. it's the television money. these sports can run independent of fans now. the television money is so big. and i'm a champion to try to to get people to go to games. other people say don't even go to games. just stay at home and watch it on your couch with your refrigerator. that's the fight that the nfl has to go against. fans that actually want to stay home and watch this great product on their high definition television. >> it's a great product. jt, thank you for coming on. good to see you. news now on the soon to be record shattering boxing showdown between manny pacquiao and mayweather. it could top $400 million. originally promoters of the fight had hoped for 40 millions.
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with tickets ranging from 1000 to more than 7,000. now tickets are topping ten grand. global rights and sponsorships are also adding to the overall tally. five years in the making this match-up will beat the 2 million draw from mayweather that was way back in 2007. the big fight doesn't even take place until may 2nd. you have to wait for it. can a homeowner who declares bankruptcy get a second mortgage canceled in the home is underwater? it's a question the supreme court is wrestling with. here's what you're tweeting me about. larry says: yes, especially if there's no equity to secure the loan. rich degrees, they would not be able to get the loan if there was no equity. (?) rick: if you surrender the asset, the home under chapter seven, then, yes the debt should be wiped out. in addition to following me on twitter and facebook, be sure to like fox business on
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>> the supreme court is about to decide whether a second mortgage can be wiped out in bankruptcy. should that happen? we asked the question on gerriwillis.com. 23% of you said yes. 77% said no. hmm, very interesting. and finally earlier this month starbucks tried to get us all to talk about race. the effort drew more catcalls and applause and ultimately starbucks ceo howard schultz, well, he had to end the effort to start a dialogue. it seems nobody wanted to tackle major social issues over morning coffee. likewise no one seems to be buying comcast's efforts to redoublets efforts to make consumers happy. after they harassed customers to keep the service. remember that? cable operators ranked dead last in consumer appreciation services. it's been a tough job for comcast. might want to ease up on the marketing efforts and actually do things that help customers. that's my "2 cents
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more." that's it for tonight's willis report. thanks for joining us. don't forget to dvr the show if you can't catch us live. "making money" with charles payne is coming up next. have a great night. ♪ ♪ charles: i'm charles payne, and you're watching "making money." the stock of the day netflix. two upgrades, renewed excitement after that nfl streaming news. we're going to show you how to make big money off the online content. the news alert for you. tragedy in the air. german wings airbus carrying 150 passengers en route to germany from barcelona spain crashed earlier in the french alps. we have the latest on the recovery efforts. >> charles let's bring you up to speed. officials from the investigation unit are now in france. they're trying to get to the site, but it's a remote site. not near anything. no easy access to it. of course the 150 souls
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