hi everyone. welcome to "on the money." i'm becky quick. you may not like your cable bill or the company. but is that all about the change? new regulations that could mean for you. >> and yes there is an app for going out to dinner. money in your pockets with interest rates near record low, is now the right time to refinance? tips and guidelines to follow and why some old rules may no longer apply. and don't look now but valentine's day is fast approaching. the company that wants to win the hearts of chocolate lovers ever where. "on the money"right now. >> this is on the money, your money, your life your future. now becky quick. >> here is a look at what's making news. as we head into a new week on

the money. more encouraging news about the economy. the labor department say s 257,000 jobs added in february. better than numbers expected and the prior months were revised higher as well. but the unemployment rate ticked up as more workers reentered the job force and started looking for work. and the three triple digit gains for the dow on thursday. in part because of the rising price of oil. stocks fell on friday though. big earnings news this week. exxon mobile ahead of expectations as disney and twitter, in spite of slowing user growth. ups matched estimates. al sales revved u. ford up 15%. gm 18%. and toyota up 16%. and if you have both the staples and office depot in your

neighborhood that may soon change. staples is buying the smaller change. the deal still needs to be approved. this year's super bowl was the most watched in television history. nearly 150 million viewers. but the way we get television is continuing to change. from cable to stellate aatelli streaming. joining us is ken auletta that. great to have you here today. >> nice to be here be. >> we talked about the death of television. and you yourself say the story has been over written. where do you think we stand. >> television, you think of the traditional media or legacy immediate yarks print newspapers, declining. magazines, declining. cable television, declining. hollywood studios, declining and shrinking. television actually is not declining. even though their audience is

shrinking for particular channels. cbs has a smaller audience than ten years ago or five. same with nbc and the other. but what they have they didn't have some years ago. i wrote a book called "three blind mice" and said the television of broadcast television in the future was in trouble because reliant on a sing source of advertising. since then they get retrance mission consent from the cable. $4 billion worth. income from netflix and amazon and apple. suddenly all these platforms pouring money into television. so parts that appeared to be weak some years ago are very strong. >> and the idea that content is king, do you think that is one that still lasts for the next decade or go? >> i think with technology that consumer is king. and the real king is consumer. because that consumer has that remote control device and can flick off any channel they want. and how they get content matters

to the consumer. the consumer, 50% of the people with a denver wvr skip the show the ads. >> when they allow you. >> but netflix has no ads. hbo, no ads. youtube you can skip the ads. so the question then becomes in the future, does the younger generation which is brought up would want looking at ads and watching on different screens -- mobile devices, for instance -- will they put up with what the cable networks want them to put up with? which is 20 minutes an hour of programming of advertising. >> we used to call them cord cutters. now they are used to getting things for free on the internet a large extent. do you think they are willing to pay to subsidize beyond maybe one or two subscriptions to a

netflix. >> i think that is a real question. with the cord cutting, declining subscribers with cable. why am i paying for a bundle. why do i have to pay for espn which comes i out to about $6 a month on average when i don't watch it. not everyone watches espn for instance. so why i do i need the bundle. let's break up the bundle and then i wouldn't be paying 80, $90 a month just for cable subscription t not counteding broad band. >> you do have the die hard users for espn that may want to pay a lot more. >> exactly. and this is part of the future television. espn like hbo has already announcemented is going to cord cut themselves. and say why do i have to come in on the cable platform. and just be part of if internet television like netflix. so just subscribe to me alone and watch me over the internet. >> all coming at a time where the fcc is laying out new rules

how to regulate telecom companies and the cable company, the ones providing broadband straight to your house. a little confusing for some consumers to try to figure out what net neutrality means. but do you think it is a good idea for the fcc to be stepping in and regulating? >> i find myself of. >> on the one hand i worry that you take away the investment opportunities of cable and television companies. and others. don't forget google fiber. wireless broadband at much greater speeds than we have today. will this impede that? on the other hand you say i don't want people to say if i own a cable wire or a telephone broadband wire that i'm going to favor this content and not yours. i'm going to give you slower

speeds and this guy i like faster speeds. one of the things, netflix, for instance, consumes one-third of all the broadband traffic you have. >> right. which to me you brought up the idea of people who don't want to subsidize espn who don't watch it. i don't have netflix. why would i want to subsidize their viewing. >> does the fact that netflix or youtube hog 50% of all the internet traffic, does that slow your traffic? >> right. >> from what y watch if you don't watch those things. and that is a basic capacity question which i'd like to see addressed more fully. because if it does slow your service, then maybe they should pay more. >> right. ken thank you so much for joining us today. great to see you. with the rise of new media there is a lot of talk of the death of the networks. this week we suppose withless

moonves who disagrees and agrees content is king. >> it is about the content. i don't think television's ever better day. by that i'm talking about the networks and premium cable as well. there is a quality of television on that's never been there before. this year our company has created five new hits that we own. that content is what's going to continue to propel us and continue to make us really thrive. >> our thanks toless moonves. up next we are on the money. check please. if you ever tried to score a reservation at the latest hot spot there is an app for it but it might cost more than the tip. and later the nation single business expense may be the time to lower it. is it now the time to refinance your mortgage? and look at how the stock market ended the week as we t

well there is no such thing as a free lunch. especial when it comes to the hottest restaurants around. now there is a mobile app called resy. charges a fee to dine at some of the heart to eat at places. and tax and tip are not included. >> resy is an app that you download in your someomart phond link wit a credit card and it gives you access to reservations at great hard to get in restaurants throughout the city. here are all the options. they can looked at monday the 9th and see 8:00 p.m. is open. you pay a fee. i've seen it down to 8 or 10 bucks and then something like 20

or 25 bucks per person. >> probably use it about 20 times in the last four months so it's worth paying for me. >> the table is yours. couple clicks. >> you pay for everything of value in life. you could get a reservation for free. but i think time is value. and time is worth something. to me i would pay money for that just because you are getting a premium service. >> most of the people that use resy are clients that we really like to have. they are tech savvy, forward thinking. motivated. they are usually willing to spend good money. and they are not afraid to pay a little extra fee for an easy access prime timetable. >> joining us are the co-founders, ben leventhal and gary vaynerchuk. so what is resy, how does it work and how did you come on up with the idea. >> simply. when you are read to eat.

you open up the app and click the one you want and book. and you're confirmed in real time. >> did you come one this because you were having a hard time getting seats sometimes? >> as someone involved watching uber and airbnb and on demand marketplace, both of us were in a transition in our career. i was starting a the fund. ben was exiting from another company and it was s. we said everybody should have this access and it started the process. >> i tell you i applaud the innovation you are bringing to this. i appreciate the creativity. and i think you are making it easier for people to very quickly get these tables. but also there is a part of me that thinks wow i didn't have to pay for that before and now i may have to pay for it. i got to chance to talk to mario batali this week. but here is where he came down. why don't you listen in. >> i think that is a little stinky. they come to us and ask listen,

how can we get more tables. but you're going to charge people more money for money already democratically available. go to the restaurant and be nice. you will get a table. >> i think that is naivety. >> because? >> please america. go to the hottest restaurants in america. walk up and be nice to the maitre d' and get a table. that's naive at best. the amount of dollars being slipped. the amount of tables for vips. it is the right thing for mario to say. and i have a ton of respect for that. but the truth is it is not democratic for the places where people want to be. plus let's call it what it is. we're seeing this with uber every day. people value time more than anything. i would absolutely pay 10, 25 or 30 dollars to save 45 minutes. that's me. that's not for everybody and that's okay. the number one asset in our society today is time. and that is the answer.

so it sounds roemtic and sounds like the right thick thing to say but that was lewd chris. >> he is one of the guy i respect the most but he's lying. the idea he's presenting is a great one. and if it was the reality we wouldn't have a business. >> tell me how it works on resy. what are some of the rrpts i could get into in and how much do i end up paying. >> runs the gamut. depends on the restaurant, the day of the week, and the time of the night. but you could go to minnet that tavern if you want a classic new york hot spot. charlie burr. a restaurant cause cosmi which is brand new. and three stars on the "new york times" platform. and yellow tail. >> 10 or 20 bucks and i guarantee my table on tienl? >> go to open table. go be nice to mario's people. and show me 8:00, four people, right? on a friday night.

this is the same old game where we're romantic about the way we don't want it to be. social media, the internetite. we have romes romance puts people out of business. >> you are swaying me. >> the reason we're swaying you is because we're just having a real conversation. do you think we're naive. we're big boys. the thought of paying for something we were rnt charged for was before was fine. but normal people aren't getting into these places and even a list people aren't getting into those places. >> you are east coast, west coast right now. new york and l.a. where do you go from here? >> miami is next. we like d.c. and we'd like to be everybody eventually. >> how much usage right now. >> we have 25,000 downloads and it is growing at the healthy clip and doing hundreds of seats on a saturday night. >> ben, gary, thank you so much for coming in and well done.

very convincing. >> thank you. >> up next we are "on the money." an alarming number of americans don't know a crucial number when it comes to their largest expense. now may be the time to lower it. later, chocolate and valentine's go hand in hand. thanks for the ride around norfolk! and i just wanted to say, geico is proud to have

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most americans know just how much money they make. but they have no idea what interest rate they are playing on their largest expense, their mortgage. survey of a national sample of adults found 35% didn't know their mortgage interest rate. knowing that is a key step in knowing whether or not to refinance. and joining us now is sharon epperson to talk about your home, money and future. a big number. 35% not knowing. >> it is a big number and a number you need to know before you can figure whether or not you should refinance or not.

so it is something you really need to look into to see if it's the right time to refinance since rates are so low. >> i think the old rule was if you could get a decline of 2% it's worth it. is that still the rule? >> now it's closer to 1%. with a 30 year mortgage rate above 4 and a half percent you should look into the refinancing. because lower it to close to 3 and a half at this point. maybe a little higher. and look to make sure you have at least 20% equity in your home. lenders may not let you if you don't have that much equity. and also closie in costs. if you can recoup those in two years ore less it makes sense. >> why has the rule dropped? is it the closing cost, the process has been streamlined? easier to get a mortgage these days? >> i don't think that's it. i think these rules of thumb come into play as people try to figure what works best for them. if you can drop it 2% that's

great. but a lot of people are refinanced at least once already. >> i have already myself. i howe do i find the best rates. >> you know, i love the online clarity calculators. bank rate.com. hsh.com. another place you can look at the radiatteyour rar. and th zillow also as has a great calculator. but the key part is how long it is going to take you to break even paying the closing costs. >> we have watched rates come down so far and there are probably people sitting on the sidelines saying i'm going to wait another 50 basis points. is that wise or not. >> it's probably not. if you know you could probably rep finance right now and then go ahead and do it. put in the application, lock in the rate and negotiate if the rate falls further to see if it's possible to lower the rate again. you really want to lock in that rate now.

you don't want to try the time the market ever. now is the time. >> thank you so much. up next a look at the news for the week ahead. and valentine's day is coming up fast. why one candy company is changing its s

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for more on our show and our guests you can go to our website, otm dot cnbc.com. and here are the stories coming up that may impact your money this week. earnings season is winding down but coke kole, cbs, pepsi, cisco and kelloggs will all be reporting. and on wednesday the weekly petroleum status report. thursday brings retail sales for january. on thursday it is also 52 years since construction began on the gateway arch in st. louis. that was back in 1963 and oh how time flies when you are having fun. and friday the first consumer sentiment for february. cupid's holiday is right around the corner. the gnanational confectioners association. godiva is on the high end.

michelle chen is the vice president of marketing north america. >> thank you for having me. >> i think of the valentine's day as the super bowl sunday for chocolate business is that the case? >> it is. we are very excited this year. we're really focussing in the last 14 days as we get into valentine's day and as the great time to really celebrate love. >> cocoa prices the raw prices out there, after skyrocketing are come down a bit. and as a result it's brought down demand. >> our demand has been really really high for chocolates in general at godiva. we've also expanded our cornerstone. we'll remain much a gifting brand but at the same time we know consumers love godiva every day. so when they can't get to a boutique they can go to other

accounts to really enjoy the chocolate. >> i can't have this s front of me without trying something. so i'm going to indulge. >> please. >> why is it such a rush? why is it waiting to the last minute and in who are your biggest customer, men or women. >> in the recent months it's almost 80% males. coming in and trying to figure out whether to get for their significant other. it is a great way for them to bond. get into store, pick out the products and be ready for valentine's day. >> and as long as you bring home something good you will be forgiven for waiting to the last minute. >> thank you. >> great to see you. that is our show for today. thank you for joining me. next week, cyber security. is your personal data at risk? the ceo of one company who says it can keep your safe. each week keep it here. we're "on the money." have a great one and see

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an heroic neighbor springs into action to stop an overnight home invasion. hear how he scared off the would-be robbers, coming up in a live report. and powerball players, check your tickets this morning. we'll have the details on the whopping $394 million jackpot. we are in store for something of a winter warm-up today. here is a live look at the center city skyline. so how high will the mercury rise? the answer is just ahead in the nbc 10 first alert forecast. good morning. this is nbc 10 news today. i'm rosemary connors. it's 5:30 on this sunday. meteorologist michelle grossman is tracking the mild temperatures today. good morning,