scammers on the move....how to know when professional movers are pulling a fast one on you... in today's cover story..... blocked. the merger between us airways and american airlines is stopped short by the government. and....with his wild days behind him, how a punk rock star is helping entrepreneurs sing a new tune. plus...a rollercoaster of a stock. why investors are on high over jcpenney. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas good morning! it's wednesday, august 14th.i'm angela miles. in today's first look: stocks on the rise..for the second session in a row-- apple shares headed higher on word billionaire carl ichan has a large stake in the company. the

rest of the market rallied as well on comments from a fed president the economy is still to uneven to end the fed's bond buying program. gold gave up $13 dollars and oil pushed up 40 cents.a seaworld nose dive.the stock fell 12% to $32 dollars on disappointment from it's first earnings report since it's ipo in april. the company missed on revenue and reduced its outlook because of lower attedance at its theme parks.and bp is suing the government.the oil giant claims it was barred from obtaining new federal contracts after pleading guilty to the oil spill in the gulf in 2010. larry shover of sfg alternatives joins us on this wednesday morning. here we are halfway through the week larry. retail numbers under our belts. will the retail numbers that came out yesterday and were strong, will it matter to the market today? > >i think it will matter because it's jsut showing us

that we are healing. we're going in the right direction and all along it seemed like the consumer has not been present. finnaly they're back. they've done a great job at de- leveraging and paying off debt. now they're spending again so it's great for our economy. > >what about the inflation numbers out today? what markets could that move? > >well that's interesting because the inflation number--- we don't want it too hot, we don't want it too cold. we want it right as expected. if anything maybe hotter than expected. i think everybody wants things to be nice and quiet. > >what do you think about some of this money that's going into technology? carl icahn yesterday, taking out a big stake or at least alerting us that he owns a lot of apple, what do you think? > >well it's been a sigh of relief for me and for traders all around because tecnology really has not joined in the rally especially when we saw what happened to apple. good company. a great company. a lot of cash. finally we have a big elephant realizing what a good company it is and buying it so

it is a big sigh of relief. > >are there any other tech stocks you would consider buying? > >well i still like yahoo!. i know it's a cheap stock, it's got a long way to go but i think marissa mayer has done a good job and she'll continue to do a good job. that might be a diamond in the rough. > >thank you larry. > >you're welcome. in our cover story, american airlines' merger with u-s airways hit some turbulence and at least for now, the deal's in a holding pattern.airline stocks tanked, as a result of the justice department saying it's stepping in on behalf of consumers. the justice department filed an antitrust lawsuit blocking the 11-billion dollar merger that would combine american and u-s airways into the world's largest airline. in statements and with the support of six state attorneys general, including those in texas and arizona where the respective airlines are headquartered, the feds say the "transaction would result in consumers paying the price in higher airfares, higher fees and fewer choices." "the doj is going to gain some credibility as the protector of consumers. but at the end of the day, it's going to hurt the airlines, themselves." in a joint statement, american and us

airways said: "we will fight them. our proposed merger is the best path forward for both airlines and all of our stakeholders." "the doomsday of monopoly never seems to happen,but there are some real issues to trade-off." in washington d.c., a combined american-us airways would control 69% of the limited take-off and landing slots, there. and along with a string of recent mergers that has reduced the overall number of airlines, a combined american- us airways would leave four airlines with 80% of the u-s commercial air travel market. but not everyone fears fewer choices "this is a brutally competitive business, they will continue to fight on price just as they do today." airline stocks fell on the justice department's action. american's parent company, amr, lost 45%, us airways--13% followed by losses at united- continental, delta, southwest and jetblue.

the justice department did not specify concessions that the airlines might make. however, the deal is no longer expected to close in the third quarter. asiana airlines is offering $10 thousand dollars to survivors of a crash landing last month. the crash killed three people and injured hundreds after failing to land properly on a san francisco runway. undisclosed payouts have been given to family members of those who were killed. an asiana spokesperson says the money is not a settlement, and does not prevent passengers from filing lawsuits against asiana. president obama hits the road next week to conjure up support for middle-class jobs. the two- day bus tour includes stops in new york and pennsylvania. the president wants congress to consider cutting the corporate tax rate.more details are expected later this week.the road trip comes before the october 1 deadline for congress to pass a bill funding the government for the next

fiscal year and the deadline for raising the debt ceiling. some insurance companies will wait until 2015 to start health care reform. the law goes into effect in 2014.but the new york times reports the obama administration is delaying a portion of the law that limits how much money americans will have to spend on medical costs..the law caps out of pocket expenses at $6,350 for individuals and $12,700 for a family under a one year grace period that has been listed on this government website for quite some time now...people with cancer or chronic illness it could face another year of high medical bills.an attorney representing benefit management for fortune 500 companies doubts it spells the end for obamacare. "i don't think that there is a reason to be discouraged. we see this as just needing some additional time to make, again, operational changes. health are rules that do go into effect next year include: no denials of health care coverage.no higher premiums due to pre-existing conditions and some subsidies will be

available. new revelations are causing herbalife shares to slide. the stock fell nearly 2 and a half percent yesterday following a report from the new york times detailing concerns over alleged metal contamination of a drink mix dating back to 20-11. while the company contends the products are safe -- new york's attorney general has subpoened a former herbalife employee. the times states that activist investor bill ackman has been holding meetings with the new york a-g''s office to spur the action.ackman famously shorted herbalife stock after contending the company was a pyramid scheme. the new york attorney general is cracking down on internet lending companies.the a-g is suing western sky financial, cashcall, and ws funding with charging interest rates well above the state rate of 16 percent.from 89 percent to 355 percent.racking up $185 million in finance charges. the latest data shows americans continue to dig their way out of debt. the rate of credit card payments 90 days overdue fell to .57%-- the lowest level

since 1994.credit reporting agency trans union which provided the information predicts the lower rate of delinquent credit card payments will continue in the near term. bill ackman is out. the activist investor is leaving the board of j-c penney. the stock initially spiked then --closed down 3%. in a statement, ackman says : "i believe that the addition of two new directors and my stepping down from the board is the most constructive way forward for j.c. penney and all other parties involved." it follows ackman's string of public criticism regarding jcpenney, including calling for its chairman to leave the board.sapna ma-hesh-wari, a reporter for buzzfeed business says her sources predict ackman's departure may stabilize the stock. "when bill ackman decided to take matters into his own hands, release this letter, two letters... to the media, go behind the board's back, it was this external force that really moved the stock one way or the other, and when you take away the risk of that, this analyst

says maybe it could be a more stable investment." ma-hesh-wari adds investors will be watching closely for progress. the company reports earnings next tuesday. investors could get a better look at the books of publicly- traded companies under a new proposal...the public company accounting oversight board wants to require auditors to reveal more details about companies-- so investors don't lose money in companies that go belly up. itel grading system that went into effect 70-years ago.something investor groups call "rubber stamping." public companies however say "management" not "auditors" should disclose the additional information. this week's largest ipo is set to debut on wall street today. envision-- a company providing hostpital staffing and ambulance services to health care centers. will trade on the new york stock exchange under ticker symbol: evch shares priced in at $23.the deal should raise around $800 million dollars. another ipo worth watching: thirdpoint re- insurance. it's bermuda based property and casualty

reinsurance business managed by dan loeb who runs the third point hedge fund.it will trade under tpre.the stock price will range around $13 dollars. tough job interview? it could have been worse, according to a survey.according to glassdoor's "25 most difficult companies to interview" report - consulting firm mckinsey & company asks the hardest questions.it's followed by thoughtworks, boston consulting group, gartner, bain & co., and rolls- royce. google - known for tricky questions and "brain teasers" - is eighth on the list. linkedin comes in as the top social media hookup site for a new job. 100% of job seekers said in a survey by right management-- they use linkedin in their search.hiring managers preferred linkedin by 2 to 1 compared to other social media site.interviewing candidates via video such as skype is also gaining in popularity.. while finding positions in print media..is barely a blip. even with women making strides

in corporate america, their salaries are still not keeping up with their male counterparts. only 8% of women who lead s&p 500 companies were considered top-earners in 20-12. on average they earned 18% less than men. the bloomberg study finds women tend to avoid asking for more money, due to fear of being labled as overly aggressive. the problems aren't just plaguing the boardroom. the u.s. census bureau says among full time workers in the u.s.: women make 77 cents for each dollar men make. celebrity chef paula deen is no longer facing claims of race discrimination. a former restaurant manager accused deen of using racist remarks and sexual harrasment. deen defended herself in tearful youtube videos.now a federal georgia judge is throwing out the race discrimination claims. but the sexual harrasment claims still stand.deen lost partnerships with the food network, walmart and her upcoming book was also dropped by the publisher.

still to come: is the s&p stuck? thats later in chart talk. plus ... a punk rocker takes his skills from the stage... to the front of the classroom. but first....its moving season....and the scammers are rolling in. how to protect your belongings and your wallet. first business continues after this.

the number of homes on the market is building. for months now-- there's been a low inventory of available homes-- driving up prices on houses for sale. however, a new report from realtor.com shows inventories rose 1.4% in june-- a sign the inventory crunch could be winding down. whether you are downsizing, moving into a larger home or packing up for college it's buyer beware when choosing a moving company. jeanette pavini, who writes the buyer beware column for marketwatch dot com is here. good morning. and how big of a problem is this jeanette? > >good morning. this is a significant problem. when you consider on average people move 11 times in their lifetime, and in my years of reporting i would say it's one of the most common complaints i hear from readers or viewers.

> >what's going on out there? what are some of the scams? > >so, i would say two of the most common scams are:movers will give you a quote and it's much lower than it actually turns out to be. and sometimes they'll actually hold your things hostage, believe it or not. they'll come and pick it up, they'll wrap the things, they'll get to the second location and they won't unload until you pay more. and that has happened so many times. so you want to get everything in writing in advance. and another thing is they'll pad out by padding your things. in other words, they'll pad your tv or a piece of china or what have you and then they give you this big bill for padding things for you. > >unbelievable. the government actually has a psa and a website devoted to this. so how does one tell if it's a legitimate mover or a con artist? > >i think that the easiest thing...in my column on marketwatch i have a bunch of links for you...but it's as easy as checking with the better business bureau and the attorney general's office. > >what are some of your responsibilities then if you are moving? what do people need

to do outside of just checking with these places? is word of mouth, for instance, a good way to go? > >yeah. the old-fashioned word of mouth. i just moved and i got a great mover by a referral from a friend of mine. checked him out, he was clean...good to go. so i think word of mouth is probably the best but get everything in writing and make sure that in writing says, you will not go over x amount of dollars no matter what. > >great tips. and thank you so much for the warning jeanette. > >you got it. the strategy behind online dating sites is now expanding to roommate matching. a new app -- called "roomates" is currently expanding in major cities.users disclose a budget, and a list of neighborhoods where they would like to live. the service then matches them with an ideal roomie. "roommates" launched in san francisco where the average rent for a studio is $2,300 dollars a month. its now expanding to other high-rent cities: new york, l-a, chicago and boston.

coming up... trader insights on why the s&p seems stuck in rut..... but first...how decades on the punk scene prepared this musician for his role as start up teacher...bill moller chimes in after the break.

reinvention is a hallmark of the entrepreneur. there's the slight reinvention, a corporate type becomes a web designer - or the radical left turn where a punk rocker might become a teacher. well such in fact, was the journey of one martin atkins who is today chairman of the music department at the sae institute, a media education school. and quite a journey it has been, and who would have though that a punk rocker would have anything to do with education but you've been teaching for 10 or 11 years.

> >yeah. punk rockers are all over business right now. look at piracy. the pirate's dilemma. > >what is that? stealing of... > >right. and i say, "free is the new black."when you give your music away, when you give anything away it's only a problem if the stuff you're giving away is rubbish. if you have great music, great books, or great product give it away to get leverage in the marketplace. it's not a gift, it's an exploding guilt bomb. > >interesting. because it's an iconoclastic idea. it's way out of the mainstream. and that's sort of what you do in the classroom. you take your experience and you use that as metaphor for how to be an enterpreneur. > > right. and using the music business is easy because it's an exciting, cool thing to talk about. it's not guns and butter, it's jay z and taylor swift, and punk rock and all of the things that go with it. > >so there you are flailing away on your drums, how do you bring what you did as a punk rocker---and still do on occasion---into the classroom and use that as an example for teaching? > >i use my stage technique.

i'm smokescreening stuff. i'm revealing things behind a curtain and i'm hopefully running an entertaining class for these students. and i'm bringing business into the classroom and having them work on the things that i'm doing and share my experiences. i take students to south by southwest every year to sleep on my hotel room floor if necessary to experience that world with me. > >very inspiring i'm sure for young people. you're an author as well. you've written a book---the title of which we can't put on the screen. > >the book we can. > >yeah. which is more of a traditional tome and again it's part of using your experience to teach. > >and also that's that punk rock, diy--do it yourself mindset of nothing's stopping anyone from doing anything. you just have to do it and fix and correct as you go. you could probably find a bunch of mistakes in both my books. > >yeah, but who cares right? > >right. fix it the next time. > >martin atkins, thanks so much. > >thank you. thanks bill. up next....a

trader's view on why the s&p can't seem to get back above 1,700. the signals to watch for a potential break out.. are next.. in chart talk

dan deming of stutland equities joins us now. dan, good morning. you trade the vix which is going along with what's happening with the s &p 500 so perhaps you can tell us why is

the s &p 500 having such a hard time getting over 1700 once again? > >well, i think angie what your looking at is the s &p and the market in general is looking for a catalyst. we kind of made it through earnings and the market has been able to hold on to the gains from the earnings announcements. but it's really looking for a catalyst and kind of i think what the fed's gonna do for the next couple of weeks into the next month. i think its staring at the fed right now and trying to gauge when this tapering might take place. in the interim, the fact of the matter is, we've been able to hold 1684 on the downside. we kind of broke through it but there's been no close below 1684. technically for this market there really hasn't been that much damage. > >so there you have a floor on the market. but what will the catalyst be? or what signs do you see in the chart that could lift the s &p 500 higher? > >you're looking at a couple of things. yesterday we certainly saw apple fly higher on icahn's stake. we're seeing repair in some of the areas like the financials are holding in there as well, starting to build possibly a base as well. i'd

like to see the financials break to a new high. they've been unable to do that. but nonetheless angie, consolidation after that big run up that we had in july is not a bad thing and considering the fact that we've only given up about 1% you have to say overall the market is hanging in there pretty well. > >dan, great to have you on the show this morning. thank you for your wise words. > >thank you. the time has come for us to wrap up today's show.. coming up tomorrow it's movies and money with 2 major openings happening this weekend. the butler-- heavily promoted by oprah -- and jobs-- the story of apple innovator steve jobs. our critic will be here with a sneak peek on these potential blockbusters films...from all of us at first business.. we wish you a wonderful wednesday..

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