. this is "nightly business report" with tyler mathisen and susie gharib brought to you in part by. >> thestreet.com, up to the minute stock market news and in depth analysis. our quant ratings service provides objective independent ratings daily on over 4300 stocks. learn more at the street.com/nbr. another delay in another key element of the new health insurance law, this one for online enrollment of small businesses, so who is affected and what does it mean for the website? with a critical november 30th deadline just days away. >> under the hood as stocks hit new records, do you know what your mutual fund owns? a close look reveals risky complex and volatile securities. >> planes, trains and

cancellations. when a big storm collides with one of the busiest travel days of the year, what's the cost to the airline business and the flyers? that and more for "nightly business report" for wednesday, no november 27th. i'm sue herrera in for susie gharib. >> i'm tyler mathisen, welcome. more delays in washington. in the nation's capital is where we begin tonight with more news of trouble implementing the president's signature health care law. on thanksgiving eve with one business day left more a key deadline, the obama administration has delayed another part of the affordable care act because of lyingering problems with the healthcare.gov website. administration is delaying for one year the ability of small businesses to use the website to buy health insurance for workers. they can use agents or brokers to buy coverage or go directly to insurers. late today there were reports, as well, hewlett packard will be a late inning replacement for

verizon as the web host for the site. bertha coombs joins us with more. bertha what does this delay mean for small businesses and their employees? who does it affect? >> it affects businesses with fewer than 50 employees. they are not mandated to provide them with insurance, but this program, the shop its called for small businesses would allow them to look at plans and enroll employees automatically. originally they delayed it until november 1st and now it's being delayed another year. they will be able to get tax credits retroactively the way a lot of small businesses do it. it just indicates, tyler, they are having still a lot of technical issues on trying to clear things up on healthcare.gov and this afternoon dow jones is reporting that hewlett packard will serve as the host of healthcare.gov replacing verizon eastverizon's.

they had an outage that lasted more than a day because of the hosting company having gone down the fail saves and backups didn't work. they had another unexpected outage this week that appeared to have been related to that, and so it appears now that they are calling an audible once again here and changing over to a new hosting company. so that kind of tells you that even though they continue to say it will be working much better by this weekend, for the vast majority, that's the key phrase, the vast majority of users, there is still a long way to go to get this up to stuff. >> bertha, maybe the late news from hp is part of the contingency plan but what other contingency plans if the site isn't able to meet demand? >> they are telling people to try on the phone and to try with brokers and they are even trying to work with brokers to see if

you know which insurer you want to go to directly enroll with some of those insurers, but it continues to be a situation where it's not likely to be smooth for everybody trying to enroll automatically online. >> bertha coombs, thanks very much. more milestones reached during a quiet session in the markets today after first time jobless claims fell by 10,000 last week. business activity in the chicago region picked up this month and the consumer sentiment for november edged higher. the dow, s&p and russell 2,000 reaching close highs despite low volume in preholiday trading. the dow up 24 ending the a a record closing high for the fifth straight session and the nasdaq added 27 hitting a fresh 13 h 13-year high and s&p up four. a growing number of mutual fund numbers are investing in complex securities bought by hedge funds. we'll tell you why and the

importance of knowing what is in your fund later in the program. well, sue, snow, sleet, rain, punishing winds all combining to make this thanksgiving eve the business elsz travel day of the year, by the way, a nightmare has grounded or delayed hundreds of flights. so what does this mean to the airlines and to the economy? kayla t kayla tausche has more. >> reporter: combine the severe weather and the nation's busiest travel day and you get one hectic holiday. the winter storm barrelling up the eastern seaboard throwing a wrench in thanksgiving travels. fight aware ceo dan baker said the effects have been felt in cities across the u.s. ro >> we got off to a rough start to the week. there was really bad weather, really that hit the dallas-fort worth area on monday, and it really got the airlines off to a bad start. the weather wasn't too bad yesterdays but today is looking bad across the entire east coast. >> reporter: more than 1500 flights were cancelled out right

between monday and wednesday. with cancellations growing by the hour, newark international saw the most problems. jetblue doing the same for 15 airports. passengers on some 3,000 flights wednesday saw the root delayed many upwards of an hour. ryan gardener found out his delta flight was pushed back but glad it wasn't worse. >> i'm hoping an hour, hour and say 15 minutes, two hours most. whatever, i'm not working so i'm relaxed and in for the long haul. >> reporter: beyond shelling out airport food and drinks, it's unclear how the cost of the storm for the airlines will be passed on to travelers. it is clear it will be costly for the insdusry. in 2012 delayed flights cost $7.2 billion in operating income or $78 for each minute delayed. with thanksgiving a day away,

passengers just want to get to their destination anyway possible. >> we hope to get to sheave port in time for thanksgiving. >> reporter: this holiday that's something to be thankful for. for "nightly business report", i'm kayla tausche, new york, new jersey. >> hope all those bags get there. looks like the merger between american airlines and u.s. airways got the clearance for take off a bankruptcy judge approved amr to emerge from chapter 11 bankruptcy protection and the terms of the settlement with the justice department that clears the way for the merger. the federal aviation administration is warning boeing aircraft that used jet engines used by general electric could experience forced landings. this follows icing incidents where some ge engines that were placed on 787 dream lineers and the 747 eight jet lost trust mid flight. no injuries or incidents

reported. big u.s. banks in the cross hairs over hiring practices in china. this comes after wall street watchdog the securities and exchange commission sent a letter to goldman sachs and citi group investigating allegations of bribery and hiring relatives of top chinese government officials. in return, the companies may have received favorable business treatment. and some of those same banks along with a few other top lenders may need to have a lot more money on hand to cover up bad loans or to cover i should say bad loans. credit did rating agency s&p says banks may have to spend $104 billion to resolve issues with investors and counter parties as they try to put the subprime crisis to rest. applications for new mortgages dipped lower. for the fourth week in a row, the mortgage bankers association says the rate on the average 30 year fixed rate loan edged a fraction higher to 4.48%. but higher mortgage rates

don't seem to impact many buyers from china flushed with cash and leery of political instability at home. california real estate is fast becoming the place to park their cash and their families, and that's leading to a new boom for builder whose are catering to new home buyers. >> reporter: at a brand-new housing development in irvine, california, thousands of potential buyers are touring models. the vast majority of them are chinese and most steered clear of our camera. >> they see the market and there is room for appreciation. >> reporter: kenny young's phone is ringing off the hook. >> what is driving them over here is they have this cash that they have and they want to park it somewhere or invest somewhere. >> reporter: they are not just investing in real estate. they are investing in their children's future, specifically their education. >> we're seeing a lot of asians

who are buying here as an invest mtd but their kids are going to school here. >> reporter: that's brian yang's plan, whom we spoke with from china via skype. he bought an older home in ir ryan and plans to move there in five years when his daughter turns ten. >> education in america is very good and world class. so first of all, for education. and i think the second one is for the property appreciation. >> reporter: few nor now he's renting the home and getting a 5% home but lanier, pulte and more are rushing to cash in, even employing the multigenerational floor plans and designs the chinese buyers want. and cash is king, a seemingly limitless amount. >> the price they are looking, it doesn't matter, 800, 1

million, 1.5. whatever, they like it -- they will, they will purchase it. >> reporter: while education and investment are the primary drivers, quality of life doesn't hurt, either. many of the buyers we spoke to said they like the climate and the lack of pollution in california and the political stability doesn't hurt, either. as for where all that cash is coming from, nobody wanted to talk about that. for "nightly business report", i'm diana olick in washington. and to read more about what is driving the new boom for home builders head to nbr.com. still ahead, ever wonder how the world's largest retailer makes sure the shelves stay stocked on black friday? we got a rare look inside walmart's very complex operation.

are you seeing more adds on your mobile phone or home computer these days? that's no accident. seeing a big boost in e commerce sales they will spend more on digital ads than 2012. they will increase spending to almost $10 billion. will all those advertisem t advertisements make you want to spend more this holiday season? nbr asked consumers what their shopping plans are for this holiday season. >> i do my shopping probably the first weeks of december. >> i'll do some department store shopping. i'll do some boutique shopping. >> christmas shopping can happen until right before christmas which is traditional. >> i do a lot of online shopping. >> i shop at stores, and i have

problems because i like shopping for myself more than other people. >> with that spending, stores have to be prepared to get enough black friday bargains from warehouses to stores in time to reach the eager consumers and its said walmart as the most sophisticated logistical system to do that. courtney region takes a look. >> reporter: the logistics execution is essential to keep prices low and skaif off computation. this distribution center in pennsylvania services 97 stores in four states as well as.come orders. walmart projects sales will gross to $9 billion this year. as a result. the company has to enhance sufficiency. >> as our efficient sis have increased and our ability to control inventory, we require half of the inventory we used

to. it made good sense to utilize the space and we do that through the e commerce centers that we can have within a regional distribution center. >> reporter: this is one of 158 walmart distribution centers in the u.s. this covers 1. 2 million square feet. there is conveyer moving 18,000 cases per hour. while much of the process is automated there is a critical human element. >> if you don't cash, it will do the human light form. >> reporter: on this trip our driver arrives to pick up a trailer filled with products going to a store two hours away. gene is one of the 7200 truck drivers logging more than 100,000 miles a year. at the store the associates are ready knowing the moment the truck will arrive and greet it and unload the black friday merchandise. for "nightly business report", i'm courtney regan.

hewlett packard was the best performing stock today and that's where we begin today's market focus. it rose after the dow component posted a profit reversing last year's loss as we reported last night but today the ceo meg whitman made it clear she's looking for revenues to stabilize in the new year but not grow. >> well, it is a pivotal year for hp and what we said at our security analyst meeting six weeks ago is you should expect revenue to stabilize, probably not grow in 2014 but stabilize and you'll see real progress in terms of our invasion, our operational excellence and our ability to deliver great products for customers. >> shared climbed in today's session up 9% to $27.36. well despite the growing list of competitors, tvo added subscribers, the maker of digital video recorders beat estimates and saw the customer count increase for the ninth

stra straight quarter. more people are turning to tivo because it has more access to netflix. stocks were down to $12.66. cvs care mark will buy the specialty drug coram, treating problems like immune deficiencies and multiple score low sis. the acquisition will help cvs diversify the treatment. it sent shares up 1% to $66.76. shares of foster wheeler popped today on reports that the british engineer amek is eyeing a take overand would create an 8 billion-dollar. shares higher by 6%, $30.49. yesterday we told you that aeropostal is pushing to share

but ab erksz rcombie is the best value among teen retailers and sent shares to $34.37 and shares of aeror past tall. the company also reported a revenue miss and that sent shares nosediving down a full 24% to $12. infloblocs, the loss widened. shares of almost tripled in the past year on strong demand of the products which manage internet traffic. today the stock tumbled down more than 28% to 3 2.08. loads of blame for spiking a

financial crisis five years ago but as they try to generate fixed income assets some are turning to new types of similarly complex package securities to get higher yields but how risky are the products and what do you need to know about what may be in your mutual fund? is mark, chief investment officer at high land capital management. good to have you with us. >> great to be here, tyler. >> you have funds that have in them, among others, collateral obligations. i need you to explain for the viewers tonight what they are and whether i should be worried about them because whenever i see the word collateralized, cmos, cdos, i start to worry. should i? >> well, you should be concerned when you don't understand something and the idea about the loan obligation is something we

should discuss. what really a clo is and we did the first clo from high land capital back in 1996. it's just a security of bank loans and the fund we were talking about earlier invests a small proportion in the debt of these transactions. what is really important, though, to the concern that you just mentioned is that a lot of the babies have been thrown out with the bath water when we look at the entire collateralized bond market, the cbo market, et cetera, et cetera and clos have been really i think difficult to understand because they have been clobbered with the whole market. so specifically, we seen a lot of resurge ants of activity because ceos have done very, very well. the default rate and the loss in that space over that entire history from 1996 to today has

been less than 2% in it's entirety, as far as realize default losses. >> mark, what makes it attractive is you do get a higher yield but the rate also floats, so if interest rates do tend to go up, you get the advantage of that, correct? >> that's right, sue. we're doing this in a bank loan mutual fund which a lot of investors are allocating to today because they want to get away from the interest rate risk and clos like bank loans are floating rates. so you're exchanging one type of risk for another and not taking interest rate risk, which right now is a difficult thing and something you should be concerned about and you're substituting that for floating rate, which is a great benefit for investors today. >> so low default risk you maintained here and have the facts to back it up. what are the kinds of loans that are in these collateralized

obligations? kinds of loans? >> they are like high yield bonds and we use them in general called leverage finance to really finance all of the mna activity, leverage recaps, so when you think about bank loans, those are the type of bank loans that the markets are investing in today but they are also the type of bank loans that collateralize. one important part about the clos that we deal in is their credit quality is higher than the bank loan portfolio. the clos themselves are investment grade so they have less risk than the actual loans that are in the collateral pool and it make s sense. you're secured by the loans and have equity cushion behind you. >> very quickly, who is doing the rating and can i trust them? >> moodies and s&p and so you're right to make that point, and we have an entire business of making sure that we understand exactly what is in all of our clos, we're not relying on

rating agencies for analysis. our team really rips apart the transactions and that transparency makes us not worry about what we're doing. >> thank you very much v. a great thanksgiving. >> you, too. co-founder and chief investment officer at high land capital amongment. why american wine makers are toasting another year. seen any good movies, lately? disney made good one s. it's movies passed the 4 million dollar mark for the first time ever and the company sites big hits like ""iron man 3"" and "monsters university" for some of the big money. >> you got movies on your list

this weekend? >> "frozen". there is a lot of money being spend on wine, around the holiday time people like to buy nice wine but reports say there may be a shortage in the world supply of wine. as jane wells shows us, napa valley appears to have plenty to toast this year. >> cheers. in a napa valley winery, willy and corey robertson of "duck dynasty" does the latest venture. >> i tried to make wine one time and realized i was not good at it. >> reporter: duck commander wines are selling in walmart expanding the audience in one wall street audience supports the world is running short on wine. >> are we going to run out of wine? >> no way. >> reporter: the shortage ended and looks like a bumper cropor the second year in a row. >> exceptional. it's going to be a vintage year is what they are saying. >> 2013 is a good crop in

quantity and quality. it was up probably 4 million tons above average. >> bob is ceo of the nation's fourth largest wine producer behind labels, the best selling red in america. the company is spending $300 million to expand and even though overall volumes of wine in the u.s. are only up a little, revenues are growing faster as people trade up to wines priced 15 to $20. >> there is not much wine sold over $10. >> one -- >> especially open. >> that's the man behind two buck chuck which is $2.50 due to inflation and sales reached 200 million bottles. >> reporter: china is the fastest growing market, however, it has been the most difficult to uncork. >> china is an industry, the

french have a big head start. >> reporter: here at home wine faces competition from craft beer but wine makers are holding their own. knowing there is no shortage of wine to choose from is certainly something to drink to. for "nightly business report", jane wells, napa. sure is. finally tonight, another record setting action in new york city last night but this time it wasn't for a work of art. an anonymous bidder paid more than $14 million for a book of songs, what makes the tiny book so valuable, it's believed to be the first book printed in the united states. in the year 1640 with 11 copies of the bay song book survived for the last four centuries. this $14.2 million is the most ever paid for a book. i would say you call that a work of art. >> absolutely. from all of us here at nbr, we wish you-all a very happy thanksgiving and a happy hon

hanukk hanukkah. >> have a great holiday. >> i'm tyler mathisen have a great holiday and thanksgiving. tune in tomorrow for a special thanksgiving edition of "nightly business report" right here on your public television station. "nightly business report" has been brought to you in part by. >> thestreet.com, up to the minute stock market news and in depth analysis. our quant ratings service provides objective independent ratings daily on over 4300 stocks. learn more at the street.com/nbr.

tonight on "quest" -- she's spent much of the last five decades exploring and protecting the world's oceans. find out why legendary marine biologist sylvia earle thinks we may have only a few years eft to save what she calls "the blue heart of the planet." and it's one of history's most enduring questions -- are we alone? see why a radical new radio telescope being built near mount shasta may be closer than you think to finding the answer. major funding for "quest" is provided by -- the national science foundation. the gordon an