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tv   Nightly Business Report  PBS  September 8, 2017 5:00pm-5:31pm PDT

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this is "nightly business report" with tyler mathisen and sue herera. >> prepping for irma. new warnings for florida tonight as the hurricane makes its way b says about half of the u.s. adult population could have had u their personal information compromised. what should you do next? >> reality insider threat. i think that it's probably one of our top concerns. airport employee was arrested in a security breach. giving you an exclusive look at the big business of security in one of f the country's biggest terminals. those stories and more tonight on "nightly business report" for friday, september 8th.
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ramping up in warnings about hurricane irma. president trump said in a tweet get out of its way if possible. florida's gove pleaded with residents within the state's evacuation zone to leave. the head of fema said irma will be devastating to thweeken ec forecasters say its impact could prolong the slowdown in the u.s. economy, which is still digesting the impact of harvey, which hit texas and the heart of the country's energy industry about two weeks ago. tonight, jacksy is in ft. lauderdale where people are making last minute preparations. >> residents of south florida are streaming north and the high cars. those leaving are rushing to fill up. gasoline shortages are being reported as far as north at tallahassee, even georgia. >> here they are.
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our cats and dog and driving up the west coast, where ever it takes us. right now, we have been trying to get a hotel. there are no hotels anywhere. >> but some have decided to stay put despite warnings from officials to evacuate ahead of the hurricane that hd in the caribbean. >> really scare d about the storm. i thin different this time. to help the people.e to sta st. after the storm. >> it's not just a highway. some booked flights to get out of town. >> how has your experience at work been? no one's coming in. >> those who are staying are nervous. but they've tried to take necessary measures to ensure . >> i've done all i can do at this point. we made alt decisions abou how to prepare. and i just really got great faith in god that he's going to take care of this situation for
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us. as the storm gets closer, many businesses are closing shop including mom and pops and also the large retail chains. but those who are staying put are hoping for the best. for "nightly business report", ft. lauderdale, florida. >> florida is not the only state in a state of emergency. ahead of irma, georgia's coast is in the pae of the nation's biggest shipping ports at risk. diana oleic report frs the port >> the containers are going up and on as quickly as possible. more than 4,000 on this ship alone. they have to get on so they can get out to sea and relative safety. billions of dollars of international commerce are at stake. >> we are a gateway to the southeast, so all the states in the southeast, we're servicing through importing and exporing goods. very important total impact, $4
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billion a year for the sout the port of sa vvannah is the fourth largest in north america by volume. >> the most difficult thing is tieing down these massive cranes behind me. they're ship to shore cranes, about 1400 tons. they have hurricane tie downs built into the cranes. and we have tie downs built in the docks as well so, the team has to go back and tie each one down, 26 of them. that will take several hours. >> the port must be fully m as the coast guard will close down the channel by midnight sa g and out like target, amazon, caterpillar and home depot will have to wait until the 1200 or so workers get the all clear to thi nearly two months not just to become fully operational, but to catch up with all the commerce.
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clearly, it's the economic engine for much of the state of georgia. i'm diana oleic in savannah. >> in washington, president signed into law a $15 billion disaster aid package which also extends the government funding and federal borrowing limit for three months. he house the funding to a temporary increase in the country's borrowing authority. it's the first piece of an aid package that some say could rival or exceed the $110 billion federal response which followed katrina. >> on wall street today, it was a mixed fin for stocks. the dow jones rose to 12,797. nasdaq dropped 37 and s&p 500 was off three. all indexes were low er for the week. er with north korea and other issues. as we reported yesterday, a massive breach a credit
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reporting company equifax has exposeded the personal information of nearly half of the adult u.s. population. today, shares came under pressure, falling more than 13%. this as scrutiny of the compan financial services committee will hold a hearing on the issue. adidi roy has the story. >> gabriel is worried. he owns a home, a car and uses credit cards. that makes him a likely victim of the equifax cyber attack. >> this is supposed to be a company that supposed to help you when things like that come about and if people are trying to help you, are the ones being hacked. >> one of the top three credit reporting in the country says 143 americans or nearly half the country, might have been
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impacted. the information act says names, social security numbers, birthdays, addresses and in some cases, drivers licenses. 209,000 credit card numbers were breached. >> that makes it one of the largest if not the largest breach of pii that we've seen to date. trz. >> adding to the outrage, news that three of the company's executives solmi of equifax sha after the cyber ta tack was y claims those executives did not know about the breach when they sold the shares. equifax has set up a toll free number and website dedicated to customer impacted. on it, a message from ceo richard smith. >> i deeply regret this incident. i apologize to every affected consumer and all of our pa partners. >> fil and the new
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york attorney general has launched a formal investigation. and the house financial services committee just announced it will hold a hearing on the issue. meantime, experts recommend consumers lock their credit so they'll be alerted if anyone tries to open a credit card in their name. also, create an online profile with the irs so no one uses your social security number to create one and change passwords. he's worried it might be too late to protect himself. >> we don't have a choice. equifax is one leading credit score providers and we don't have a choice. had we had a choice, i would use it. >> already, analysts estimate the cost could reach $300 million similar to the target or home depot breaches. and in yet another twist, a source says the company website that was created to help customers who may be impacted, also has security issues. for "nightly business report", i'm adidi roy, san francisco.
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turning now to tim to discuss what you should be doing to protect your finances and privacy. this is a mess. obviously the main system there was breached. there may be issues involve iin the sort help yourself you've been tell me what i should do if i suspect i have been one of the people, the 140 million something people whose information may have been compromised here? it's already done. somebody's already got it. >> yes, they've got a ton of informatks gotte nine of the four people in my family. i think i was the one who was affected unfortunately. so now, they've got any driver's license information, my social security number and probably my favorite beer. it's amazing how much information they got. they are not holding all o cards. the hackers still don't have
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your passwords and pin number, so you should go to your bank to financial instit passwords beca thatul be information that the hacke er don't have. i also recommend letting your bank and brokerage firm and any other financial services companies know if you do determine that you were one of the hacked in the situation. >> how do you know? how did you find out what you were? >> well, i website you're now saying might be involving some lack of security and fraud in and of itself, but i went directly to the website. followed the process that equifax asked me to do and they gave me the information that i may have been hacked. it said the other three members of my family had not been out there. you said your pass woornd pin. there are a number experts recommending freezing your credit.
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but there's a big and what the implications are once you have frozen your credit. >> sure. it may not be particularly easy because it's different on a state by state basis and it may be different within your stah strongest form of locking down your credit. now, let me be clear. it doesn't mean that people cann hack or defraud you. it just means that you're likely to get notifications faster if you've frozen your credit. >> what does that mean? do you call the credit agency and say i don't want anybody accessing my credit report and trying to open an account for me? what does that mean? >> yes, each agency will have their own process. if you call them directly, they'll direct you to an online form or you can do a handwritten form. one of the big challenges we s use yur credit in the near term, you don't necessarily want to freeze it.
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but i have been told that every single one of us should be freezing our minor children's credit reports. so that's something i am currently undertaking for my 11 and 13-year-old. they have a credit report, which is kind of scary to begin with because they don't have credit. we know if they have any activity on those, it's definitely fraudulent. >> that's a topic for another day. why children would have credit files on them, but we have to leave it there, pe hacks you. tim mauer with bam. still ahead, did you know this? i you didn't. it's 401(k) day. find out if you're making the most of your retirement
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today is national 401(k) day. a day designed to remind the nearly 55 million americans savings. in a company sponsore sarah holden joins us. senior director of retirement at the vecompany institute. it's national 401(k) day. dece to check in on how your plan is doing. what should you be looking for? >> well, the first thing you want to do is check your contribution levels. becaus nin out of ten participants are in plans where the employer puts money into their account. but in many cases, the employer only puts money in if you put money in yourself. so you want to be b sure you're contribu literally leaving money on the table. the other thing you might want to do is if youfr been enrolled
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for a while, maybe you were young when you first set up your rate. typically, people increase their rate as they get older or sign on to auto increase so it happens for them, that way as you're mauoving away from savin for a house or education, you actually increase and the other big milestone, when you turn 50, you can take advantage of catch up u contributions, which that reall focused on retirm. zpl what are the limits? do you have them on the top of your head? i don't mean to put you on the spot here. >> 401(k) to put in on a pre-tax basis is 18,000 and then over 50, you can put in,000. >> you're spoking to me. >> perhaps both of us. >> don't need to go into this right now. >> that's okay. we're very honest. , most find iing that most peoe peop are fully utilizing the
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tools available to them to build their 401(k) or do they kind of check off the boxes then they don't revisit it very often? >> we've had a lot of plan design change over time, so a lot make thing which makes it easier to get people on the path. so the risk is, you go on the path, really is important to revisit it so, for example, the investment options may have changed over time. the typical plan today has more than 20 options as your choices. now, your employer has set this up, there's ten different fund choices, so there can be index and foreign and domestic and you want to be sure that you looked at the investments that you've got your money in to see if they've taken advantages of f the options there. >> quick answer here. one of the attractions has been that this is pre-tax money. there is some talk on the hill and has our finger on the hill, away as part of tax ge may
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reform. what are you hearing? >> we're in favor of simplifying, but really cannot p done on the backs of these retirement favors. these tax incentives have encouraged millions of americans to save for retirm. we've done surveys of u.s. households, and even people who don't have an account say don't take away the tax incentives. they're so important. >> thank you very much. appreciate it. >> happy 401(k) day. >> same to you. >> investors took a bite out of kroger shares that's where we begin tonight's market focus. growing competition caused theo pricesn the latest quarter. and that ate into results. it also suspended its long-term earnings guidance. shares down 7.5%. another retailer lowering its prices is target. in a blog post, the company said it has cut prices on thousands
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of iy formula, paper towels, the news concerned investors about the health of target's profit margins, so shares tumbled. down nearly 2%. a federal judge has sided with apple in its royalty patent lawsuit against qualcomm. the judge rejected the request to dismiss the suit. earlier this ear, apple sued qualco woboth shares fell a is struggling to chipoltle s wib back consumers. shares fell to $300.03. betting on the economy. he likes the stocks that will benefit from growth. he is chief investment officer at januaryny monte ggomery scot.
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a busy news day. straight to your stock pic invest in? why do you like it? >> absolutely, tyler. homebuilders. we know that the demographic trends are very supportive. we think this while it's done well and it's a mature cycle, has a much more longer run way to go. >> mark, moving on to lake mason. you think it's a potential acquisition. >> it is. there's been a lot of consolidation in the industry. feed pressure has forced money mangers to come together for economies to scale purposes. obviously equity prices have inflated. at the same time, may stand to benefit from being acquired by a larger operator who's once again
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looking for economies to scale. >> we mention ed at the top, yo s and your third choice is another etf that goes urn the ticker, eusc. i gather that means small caps. the fact is last year it grew faster than in 1998. we like the tail wind there. monetary remains vibrant and as it relates to their domestic economy, unemployment continues to trend down. small caps that are more dm dmesically oriented or going to benefit better. >> your first pick was the homebuilder etf. is there any storm inl im pact positive or negative on that index because of hurricane irma. >> there was a threat early on related to the homebuilder larg
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around the texas region. through the rebilling proces after it. in the aftermath, we're going to see activity resume back to trend. >> mark, thanks very much. have a great weekend. >> coming up, our cameras were there when teams of police officers fanned out across one of the nation's busiest airports to protect you from what they consider a hartford, connecticut is warning it could file for brufsy. the mayor says the city will be unable to meet its financial
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obligations in about 60 days without state aid. aid to the city is tied to the state budget whio agree upon for july 1st. hartford is asking for about $40 million. from tsa screening to security you don't see, protecting the public at u.s. airports is big business. today, aurpts around the country confront the insider threat. the people w at the airports. in the second part of a "nightly business report" exclusive, morgan brennan goes behind the scenes with police looking at everything from random employee checks to counting sharp knives used at terminal restaurant. it's taking place at lax, the second busiest in the country. >> we're behind security. inside hidden passage ways at los angeles international airport where the public isn't allowed. a multiagency police operation is focusing on the people who work at the airport itself.
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to find anyone deemed an insider thre >> when we work this detail, we have zero tolerance. >> it means something small could turn into something big. when you look around the terminal, what do you see? >> i'm looking for opportunists preying on the travelers, mostly i'm looking for some kind of criminal element. something that sticks out that needs to be looked at more. >> it starts at 9:00 in a briefing room at headquarters. >> this is the only task force of its kind that does an operation like this in the nation. at any major airport. sfwl as teams of officers prepare to head out, tyrone tells us therest a clear game plan. what do you expect to see today? in a want to see a show of certain specific area and also, we want to address the ins >> the operation has begun. we see highly visible officers armed with rifles, as we ride up the escalator with lieutenant
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henry acosta and it doesn't tkeg long for on our way to get 134. >> as we navigate elevators and restricted passages, we end up on the airfield. police are questioning this ramp worker, pulled over after an id check. turns out, the employee has an active warrant for a pending dui case. he's going to be arrested. likely, lose his job. >> seems like the other employees have been watching closely what's going on, too. >> they do. >> imagine the word is spreading. >> probably the first hour we texting, phoning the other they employees, hey, the police are here. zpl 54,300 employees understoo a crimina bac check, but random reviews keep track of with whether someone's record has changed. elsewhere, officers are conducting their own surprise searcheses of employees, lax is
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so serious about the issue, it employs two intelligence analysts, whose job is to look for any and all threats. anthony and michelle were hired three years ago. the first of their kind to work directly for an airport. their gathering extends beyond the passenger terminal to cargo areas around lax, the fi with about 2.2 million metric tons passing through each year. items from iphones to international mail loaded on and off planes and shipped worldwide. how real is the nder threat? >> i think that it's probably one of our top concerns and we break that to the stakeholders, airline security managers and they're all aware. everybody is aware of this. it goes hand in hand with some of the criminal activity that you may see at airports. that we pay attention to. if somebody b is trying to smuggle cash or drugs. they're get iting paid to put
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e kw it's a bomb and not drugs that they're being asked to put on board. >> it's been very good in securing above the wing. but oftentimeses, below the wing and goes on around the airplane and people have access to the airplane and any versions. that what we're worried ab. >> even low level threats are monitor our cameras captured this inspection of nooifs in the t the knives outstanding.ti >> in the kitchen, t knives are all where they should be, a process that takes only a few minutes. >> it's great. looks like all the knives that checked out are all accounted for. >> officer sean foy says every restaurant employee is traineded about keeping track of cutlery. >> it's a daunting, but u important process. >> and as the police operation is insider threats is winding down, lieutenant aco very issue
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one's mind. safety. >> knowing what you know about airport like lax operates, is it hard to think traveling or just knowing the threats that could be out there? >> me, personally, no. you're safe. boarding an aircraft and flying. you're safe. >> for "nightly business report", i'm morgan brennan. >> they check the cutlery in the restaurants. that is detail. you can read more about security at lax on our website, nbr.com. and that is "nightly business for tonight. thanks for joining us. >> and i'm tyler mathisen. we' n re in the path of the
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