hi, everyone. welcome to "on the money." i'm becky quick. closing in on a cure. breakthrough vaccines in the fight against cancer than flu. our conversation with the ceo of a major health system. the banks opening its door with no door. virtual banking is a reality and they say they can save you money. time to lose the holiday five or so. the business of making your waistline smaller and getting healthy. we will talk to the ceo of curves and jenny craig. and is it time to ask for a raise and how to do it? "on the money" starts right now. >> this is "on the money." your money, your life, your future. now becky quick.

>> here's a look what's making news as we head to a new week "on the money." a better than expected unemployment report topped off the best year for hiring in 15 years. december's unemployment rate fell to 5.6%, the lowest since june of 2008. better than expectations. the economy created 252,000 jobs and 50,000 were added to the revisions for the previous month, even though wage growth remained weak. it was a wild week for stocks. four triple-digits by thursday, two down and two up. thursday's gain capping a two-day increase of 3%. the s&p 500 and nasdaq followed suit. stocks fell on friday. oil traded below $50 a barrel a 5 1/2 year low on over supply and weak demand. when it stopped falling the markets stopped their slide as well. if you have fond memories from your walkman back in the day, sony will be selling a new digital walkman for $1100.

all right. there's a sucker born every minute. the device has tons of memory and is meant for audio files and people with lots of cash. america has one year of obamacare under its belt. are we better off as a nation? joining us to talk about this is dr. ken davis. he's the president and ceo of mount sinai health systems. thank you for being here. >> great to be here. >> we are one year in to the affordable care act. i know it is early on to tell but a gallup poll is showing the rate is 13%. how would you judge the beginning of obamacare? >> there are three things they wanted to do, increase access, improve quality, decrease costs. clearly on increasing access it has been successful. it is successful at the medicaid level. it is successful at the larger

. around quality, there are now penalties for medicare for payments to hospitals around hospital-acquired infections and reed readmissions and as a resu qu is up. financially, we see the rate of increase in what we have been paying for health care as a nation, that rate of increase is slowing. so that's a good thing. those who favored this law suggest that the law had something to do with it. there are many explanations why the rate is decreasing that may not relate to the aca. >> such as? >> well, copays are larger, deductibles are larger and people are using less care because they can't afford it. >> if there is one thing tukd tweak what would it be? there are many things. >> limit it to one or two. >> one thing is address the things that drive health care costs, the things we didn't want to talk about in this bill.

az the cost of dying and issues of obesity and what we can do to those are some pretty pickly points and that's what congress and the rest of the nation has not been able to decide on sglit they are the tough debates. stuff that polarizes people but if we don't address we won't s health care costs. ange what >> doctor, while you are here i want to talk about a couple of things. this is flu season. flu is going around. we know the flu vaccination, even if you got it may not be as effective this year. >> right. it is a bad flu season. it has been bad in a number parts of the country. some parts of the country are seeing 6% of the visits to the doctors and 6% of emergency room visits are flu. it's a little more severe than the past. so it is something to be concerned about. the vaccine is not as effective as it has been in the past

because the virus mutates and what we have a vaccine for is producing antibodies that are somewhat different from what this flu is. that happens. but it still better to be vaccinated than not. >> no. i think i can speak to. that i was vaccinated and my whole family was. i'm fairly certain i have the flu right now. >> you are not touching me. >> we are not shaking hands or any of that stuff. what can we hope for the future. why can't we vaccinate for every strain? >> the ideal vaccine directs itself against a part of the flu virus that doesn't mutate year to year. that's hard to document however, scientists at mount sinai in collaboration with other scientists have developed what we call the universal flu vaccine. that a is a vaccine that is directed against the stable part of the virus that doesn't change from year to year. that's now in development with a company.

we would hope in a couple of years we will have a universal flu vaccine. >> we are really talking about this in a couple of seasons. >> in a couple of seasons. >> even if you are exposed to the flu if you have had this vaccination you are good to go. >> for perhaps a decade because it is directed to parts of the flu that don't keep mutating. >> great news but maybe not as much as the cancer research at this point. you are talking about vaccinations that might be able to -- >> vaccinations -- really a way to enhance the immune system. how can our normal defense mechanisms take out cancer cells? why can't they? thanks to the revolution in genomics and advances in biology it is possible to identify those factors in the immune system that need to be enhanced so that we can get a more robust inflammatory response and take out the cancer cells. we are already seeing that in some drugs that are in the pipeline and already been approved. >> how does it work? >> well, it boosts your own

antibody system, your own t cells and inflammatory cells to attack cancer cells. it takes the cancer cells out. the cancer cells deceive an immune system so they don't think it is really foreign. now we are finding out what a are the mechanisms that provide that kind of clandestine operation so with we can breakthrough it and our immune system can do it. >> how effective can that be? >> what we have seen in cancer theraputics over the last few decades is we make small steps but all real steps. there's is no major polio vaccine here but we see we are getting ahold of the basic biology and path of physiology produce better drugs that are more effect i have and less adverse effects. >> that is hopeful news.

i can't thank you enough for being here today. >> thank you. >> dr. ken davis. up next with we are "on the money." would you put your money in a bank you could only visit through your smartphone? meet the father/daughter team that hope so. if you are like most americans you probably set a fitness resolution. we will talk to jenny craig ceo about diet, exercise andway staying on track with weight loss goals. but as we head to break look at how the stock market ended the week.

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♪ bancorp ceo jay sidhu ringing the closing bell at the new york stock exchange this week. he is part of a father/daughter team that is disrupting banking. they are launching a mobile only bank with no brick and mortar branches it is accessible on smartphones and tablets. jay sidhu is the chairman and

ceo of both bankmobile and pennsylvania based bancorp. and thank you for being here. >> thank you. we're excited to be here. >> i know mobile is the most exciting thing going. that's where the growth is. the idea that you can only get to this application through your phone or a tablet, how did you come up with that? >> think of a bank. the way to get it is to have more branches and get rid of everything else and keep the branches. now we have a million customers today who are all over the country and these are students and they have never been to a bank branch. this is an example of how technology makes it better than a branch experience. >> you come to this after years of being a banker who ran a lot of branches. where when did this ah-ha moment occur to you. >> when i left sovereign bank, which i was the ceo 0 oen of and i had two years to deflect on

things, i said our bankers are making money by having people mismanage money and forcing to pay ridiculous overdraft fees. why do we need bank branches anymore? why can't we revolutionize banking and let banks let consumers bank with the smartphone. >> this is people of your age. people of your demographic. how did you work with your father to make this happen? >> it has been an incredible experience so far. i had the opportunity as a young girl to watch my dad build sovereign bank. was super proud of imand to work and learn from him and create a disruptive banking product that will change the face of banking is an unbelievable experience. >> i will admit i was somebody drawn to ing bank early. they didn't offer branches and part of the idea is they would pay me more. i love the fact they would pay more for the bank accounts. i guess that is part of the idea

of what you are doing, too. how much are you paying as a result. >> free checking accounts with no overdraft fees, higher rates on savings. 55,000 atms. three times more than bank of america. you can send money to anyone based on the telephone number you have. plus a personal banker and financial adviser and costs you nothing. >> how do you make money? >> this is a social enterprise effort on our part. there are 70 million under banked consumers in america. it's about time somebody built a bank for millennials and middle income americans. >> are the marp jins lower that an a traditional bank. >> that is correct. >> if i am coming to you what can you pay on my savings or checking ott account? >> we will guarantee at least a quarter percent higher than four largest in the country. right now 64 basis points.

>> that is compelling. if there is no bank branch, if i worry that my card can or my account has been hacked or stolen or some discreptcy who do i call and where i do go? >> one of our benefits is we have a debit card off and on capability. in the app with one click of a button you can turn it off. you don't have to worry about security breaches. as soon as your debit card you are afraid click the button and it takes care of it. >> and we have a contact center. you can talk to us 16 hours a day, seven days a week if you have to. the same thing, why should -- have you ever tried to call a bank? it takes you ten minutes and you have to press 25 different things before you can talk to them. >> you are going to get rid of that. >> you have a personal banker to connect to immediately. >> and we are part of -- so every time you have a transaction you get a text message to show the transaction.

we are partnered to prevent fraud. >> how many users do you have right now, realizing you just launched and how many do you expect by the end of this year? >> we already have over 500 people who have expressed an interest or already opened an account. >> where do you expect to be a year from now? >> at least 25,000. >> okay. i appreciate the experiment. i think it is really interesting and intriguing and i'm going to check it out myself. >> please do. >> thank you for joining us. we appreciate it. >> thank you so much. >> thank you so much, becky. up next we are "on the money." it happens to the best of us, even celebrities. you make new year's fitness resolutions but get off track with food and fitness. how to keep up with weight loss goals one day and one meal at a time. for some it is a difficuo h help you climb the salary

>> coming up in bed with favorite book is nice but i think women would rather curl up with their favorite man. here's the thing, half of men over 40 --

the new years ball has dropped and 45% of americans made new year's resolutions to drop the weight. less than 10% of us are able to follow through. obviously life can seem at odds with health and fitness goals. for a look at how to stay on track with slimming down, i'm joined by monty sharma. the president and ceo of jenny craig and curves. thank you for being here. i know what why i fall off the

wagon but what are the biggest problems. >> weight loss is a difficult journey. takes a lot of effort to do it. we are busy in our lives swrechl things to do at home. we often fall off from that and extra supply of calories. calories are cheaper than waemplt it is all around us. the temptation is there. that's why we believe it is difficult to go through that process. >> jenny craig obviously is a well-known iconic brand. it has been around a long time. a lot of celebrity spokes people. sometimes the food can be expensive that goes with it. what does jenny craig have that nutrisystem or weight watchers doesn't have? >> our program is different because we believe in the power of a one-on-one in-person consultation. most give you app-based, do it yourself, track everything programs. ours is a consultant in person program where we take response nblt your weight loss success and responsibility in keeping

the weight off. during the journey of weight loss, we are helping you modify behaviors so that you can have a successful weight loss goal and then a healthy relationship with food, which is different. behavior modification is key to helping you have a healthy lifestyle, beyond weight loss. that's the way we are different from others. >> you now have curves fitness and jenny craig together. how do you bring those two they work together? >> we are launching 16 new locations for jenny craigs alongside curves. we think this will allow offer multiple products to consumer segments. some want to lose weight using nutrition and some with nutrition an exercise. in all of these cases, where we have a difference is there is a coach, a one-on-one intervent n interv we believe exercise and nutrition is the best way to lose weight and keep it off. we know the consumers have

different choices and act differently. >> in the last few years, we have seen a lot of apps and digital products that have been brought, maybe a fitbit or something else. how does that increase the competition and how do you go head to head with them. >> our praukt is different from apps. we provide these apps as tools to members but the reason it is different, when you have app-based programs you see initial engagement and rapidly falls off. we provide access tools but they are not the focus how to get out and get consumers. >> the new spokesperson is the old spokesperson. you have kirstie alley coming back. >> we help thousands of members lootss weight overtime and on occasion people get off track. life gets in the way. you have personal challenges but you see those issues with kirstie.

when that happens we are standing by to help you get back on track. >> monty, thank you for joining sglus thank you very much. up next "on the money," a . ok at the news for t if your new year's resolutions include earning more money, asking for a raise may not be as scary as you thought.

for more on our show and our guests go to our website. here's the stories coming up that may impact your money this

week. earnings season kicks off when alcoa releases fourth quarter results and big banks report including jpmorgan chase, wells fargo, bank of america, and goldman sachs. only monday the auto show begins in dit. on wednesday retail sales numbers for december come out and in fact tors will be looking for a clue in to an interest rate change when the fed introduces the beige book and the consumer price index is released as america's economy improves economists are waiting for wages to go up. is it a good time to ask for a raise? that is something most people don't like to do, but sometimes you have to go up up to the boss and ask for more. personal financial correspondent sharon epperson is here with the ins and outs of asking for a raise in your money and your money. why is this such a tough talk to have? >> it is uncomfortable. a lot of folks don't want to seem pushy and don't ask.

a recent survey by salary.com found more than half of employees actually didn't negotiate a salary in the last 12 months and 23% of them, 20% of them never ever asked for more money. the thing people should know is your employer expects it. most employers, more than half say they expect you to ask for more money. it is people are uncomfortable about doing it and don't know how to go about doing it. >> what is the right way to negotiate sdw. >> build your case. make sure you have specific outlines and specific things you have done throughout the course of the year, six months, the last few months you have been there that really show how you have helped the company's bottom line. it is not i have been here three years so i deserve a raise. what have you done for the company, for the business. if you are an above-average employee with above-average results and can show that to a boss that is really a good way to build your case. you have to have a strong case to stand on. the other thing is research the

market environment. how much are people getting paid for your position? based on your unique responsibilities how much more should you be paid. glass door.0 com, pay scale.com are good places to see the estimates and talk to people and see what they say in terms of what their businesses what people in your position are getting paid. here's the part that people don't do. do all of this research and have a great case but the first time you ask for a raise is when you are in front of a boss. you have to do a dress rehearsal. run through it with a mentor, coach, friend, a colleague you trust but talk to someone and run through the discussion before you talk to your boss. >> to make sure you are getting your points right. >> makes sense. anything outside of that? we are thinking of all the things you can do and have done. anything outside of that that you need to consider, maybe timing? >> timing is key. think of the budget of the company or the group that you work for, the team that you work for and not necessarily when your review is coming up.

they may not coincide. ask for the raise when the money is there. the best time to do that is before budget review so your raise, your extra salary can be factored in to the budget. >> excellent tips. thank you. that does it for us today. i'm becky quick. thank you for joining us. next week, saving cash. help businesses save money by reducing food waste. each week keep it right here. we are "on the money." i will see you next weeken ♪

this weekend on "extra" -- >> it's time to turn back the clock. we've got the stars before they were stars. >> big news from brown's chicken. >> steve carrell's humble beginnings the job that kicked it off and early hollywood dreams. >> i thought i would be like the whacky neighbor in a sitcom if anything. >> jake gyllenhaal stealing punch lines. >> from city slickers to night crawler and screen legend that doubled as his god father. >> what he did in his movies and who he was as a human being, what we all aspire to be. >> the bad decisions of the