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tv   On the Money  NBC  July 12, 2015 5:00am-5:31am EDT

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greetings, everybody, and welcome to "on the money". the boys are summer may not be getting old, but the people watching them all. we'll talk about the future of baseball. how to keep workers safe in danger zones overseas and how that is huge business here in the united states. >> get down! entrepreneurs learning to share and how it can pay off in the long and short run. the safest place to stash your cash. do you need a brick and mortar bi bank? how to find the best interest rates for your money. >> your money, your life, your
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future. >> baseball clearly is big business, and with big money at stake, and the game's 86th annual all-star game takes place this tuesday night in cincinnati. we thought we would look at whether the summer game is on tech for continued growth. that is our cover story for this week. let's bring in ken shropshire and marc fisher. baseball revenues are at all-time highs, but the demographics of those watching is the oldest of all sports, can those two things continue to exist together? >> attendance is very strong, revenues are high, but if you look at who is watching the games, on tv the average anyone of the viewer is over 55. that is a good deal more than football and well more than the nba. it is a problem that the new baseball commissioner realizes
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that baseball needs to address or they won't have that much of a future. >> why aren't more kids playing baseball these days. is it a cool factor? what is going on? >> that's a lot of it. think about the way it is presented to us. it is the old style. it is just transitioning into what is new. and here is where i tend to differ on what people are thinking. i think baseball will capture the youth audience with the use of technology it presented that other sports are not into. that other sports have not captured the same way. it's a transition period now. certainly the sport is more designed for radio than tv. i think the idea of the apps and things going on will make a difference in the way the sport is received. >> baseball has the same problem that golf does. it takes too long and it's too slow. but the rule would change that to speed up the game and have shortened the average gain. will that help attract kids as
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well? >> i don't think it will, the leaders seem to believe that the pace of the game is the central issue and it isn't. what baseball is suffering from is the fact that fewer kids are playing baseball and it is more dependent than any other major sport from that follow through on playing as a kid to playing as an adult. what is happening is a social issue that baseball could have trouble fixing. baseball is taught father to son generally unlike other sport that's are taught by coaches and teachers. if you don't have the two parent family that's are in decline in this society, fewer fathers and sons playing catch, which leads to fewer kids playing the game. there is a problem with kids thinking that baseball is a sport where nothing happens. where they stand in the outfield waiting for a long time. so there is less action, and that is out of step with today's society. but it is not just a base of game issue. >> and ken, unlike other major
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sports, unless maybe you're talking about golf, baseball is very steeped in tradition. it values nostalgia, it links generations. is it too much in the past and not enough in today's america? >> i mean you could look at baseball leadership now. very top levels of the sport. if you compare that with the nfl or nba there will diverse people at the high level. that is not the case in baseball. baseball needs to get on top of th that. >> i was struck when you said men teaching sons playing baseball. we're very attuned to women's athletics. can baseball grow more around the world and attract women at the same time. >> yes, absolutely. softball is quite popular as a television sport increasingly and for players as well. women are playing baseball itself.
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it's a growth sport among women, and it's a growth sport in certain parts of the world in korea and japan and so on. but the issue for baseball at home is the central one. it is a game whose culture says don't take a lot of credit. don't show boat when you have achievements on the field, and that is out of step with a self celebratory culture we live in today. >> what do you think is the future of america's past time. the business of baseball. is it in trouble or not? >> it is in a transition period. i think the new commissioner has not shown us fully what he is going to do to address it. one of his number one priorities is the youth initiative. in any business you have to think about your future markets. baseball will be with us if will not become extinct. but the diversity issue is more key than any teams recognize. >> good to see you both, thank you for joining us today.
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now here is a look at what is making news as we head into a new week "on the money." the new york stock exchange came to a screeching halt for several hours. trading was stopped for more than three hours after what was described as a software glitch, but there was little panic and trades did continue on ten other exchanges where it could be executed. it was part of the reason for the dow that fell more than 260 points on wednesday. there was worries about greece, china as well contributed to that selloff. stocks recovered a bit later in the week and cannontinued to ri on friday. earnings kicked off with this week with alcoa missing expectations, pepsi was ahead of expectations. the next time grow to star bucks you may have a grande hole in your wallet.
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prices went up by 5 to 20 cents this week. the reason, higher expenses. other companies have recently lowered their coffee prices. up next, staying safe abroad and why that is a big problem for some american workers, and big business for some american companies. >> later, entrepreneurs learning to share, but not what you might think.
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the business of kidnapping ransom and extortion is a multibillion dollar industry based on fear and hope. the number of kidnappings is on the rise especially in africa and the middle east. it is causing a boom for business for some companies in
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the u.s. dina gusovsky has more. >> imagine being in the mountains, hearing gunshots, and being taken hostage, and that is what you signed up for. some businesses are helping you survive kidnappings and ransoms. take a look. >> get down, get down. >> it may look like a scene out of a movie, but the threat of kidnapping, ransom, and extortion is real. there are companies who make it their business to make sure if it happens, you get out alive. i went through one of their kidnapping training sessions. >> so we give them a little taste of what it might be like, and they will take those lessons into action if it happens for real. >> with terror organizations,
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business has increased massively. people want to be protected. we have a rapid violent action. lots of noise and chaos. >> check points like this. >> this looks expired -- >> i have a lady here from cnbc. >> being taken hostage and interrogat interrogated. >> who do you work for? >> cnbc? >> journalist. >> you report back to the cia. >> and finally the rescue. >> that is one of the most dangerous times for the hostage. >> the smoke is deployed to hide the movements of the rescuing for force. >> one false step and -- this could happen. >> so you're essentially using the same tools as the u.s. military -- >> it is a two-day course proceeded by e-learning and it
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is around $2500 per person. >> there is a growing need for companies like this. the estimated number is $50,000 to $85,000 a year with estimated ransom payments upwards of $2 billion. >> employees and families need be safe. >> companies like this don't have to worry about losing business any time soon. >> now these training courses are just the beginning of the web of companies involved in the big business of kidnapping, r rans ransom, and extortion. >> it was unnerving. i knew it was going to happen, but the first instinct is going to be to resist. they hire a hostage negotiator. they have ones from hundreds of tens of thousands of dollars a
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year. that insurer usually has a crisis response firm. they charge up to $3500 a day. the average ransom is $50,000. they pay the consultants more money than the ransom is worth. >> wow, fascinating. what a business. >> right? but unfortunately there is a need for it and it is growing. >> dina, great job. we're on the money. sun, sand, and debt. young entrepreneurs are getting a room with a view. later, the best places f
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>> we know they're out there. you can't always see them, but it's our job to find them, the answers, the solutions, the
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innovations. all waiting to help us build something better, something more amazing. a safer, cleaner, brighter future at boeing. that is what building something better is all about. by 2020, a estimated 65
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million americans will be free lancers. now there is a growing business to address that issue. it is called shared officers or coworking spaces. it gives independent contractors an option for low cost desk space, conference rooms, and interaction with other people as well. we visited coworks in new jersey where the growing tech scene is part of a new wave of business. >> coworking is a shared collaborative work space. we provide business for start ups, mostly technology focused. >> in 2010, brett and i really liked the idea of coworking. we had another business of ours, and we didn't like just working on our own, and we were looking for a spates.
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and there wasn't one in new jersey. we decided we needed to start one. >> we have drop-ins and weekly and monthly. >> the real thing that makes us difference from just going out and renting your own office is the ability to scale up and down as your needs change without getting into a five or ten year lease. >> one of the thing that differentiates is the community. >> quite a few people started businesses together. >> we were rewarded, and we're expanding from 1600 feet to 8500 square feet over two locations, and it is to provide work spaces for budding entrepreneurs. >> joining us to talk more about the shared office space
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movement, two founders of different coworking spaces. greg is the president of mission 50, and benjamin dyett is the cofounder of grind. coworking has been around for a long time, why has it taken off? >> a lot of it has to do with the advance of technology and that your laptop is now your office and how that has spread throughout our society. it gave people the opportunity to follow their dreams and chase their passion. and what greg and i do is provide them a place to do that. >> you're more efficient. what is your version of what the benefits are of a coworking space as opposed to working at home. >> at home you have the distractions of home. you wake up, you don't get
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dressed, no shower, you get on the couch, you have espn on in the background, all of a sudden you realize you're not working. so i think you work better in a productive environment and that's what we offer. >> you come from a real estate background, how does this compare with traditional office space? >> i have a boutique office building and in a ten year period we saw mobile technology start shifting the demands of office space. a traditional user would need filing space, a server room, hosted in the cloud, and people just don't need the same requirements they once did before. >> benjamin, you require a membership, how does that work? who are the typical members part of the coworking space? >> the typical members come from all walks of life, all industries. one thing about collaboration that is, really what we do, is
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it takes proximity and diversity. if everyone is in a space doing the same thing, they're not sharing. the power of what duo comes from the ability to look to your neighbor and share expertise with that person. >> so you develop a real community. these are not independent contractors going about their business during the day, they're collaborating even though they're in different businesses? >> absolutely, it is a key. what keeps people at grind is the fact they can come in and be inspired by other people working hard and succeeding next to them and they can reach across the the table and access expertise they don't have. >> i think office space as we know is transforming. how we work is transforming due
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to technology. the direction it is going it all of your office buildings, if they're not shifted already, they will be shifting, and coworking will be a presence in the way we work. >> gentleman, thank you for joining us, great story. >> up next "on the money." a look at the week ahead. and how to get the most for your savi savings accounts.
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by the way, for more on our show and our guests, you can go to our website. here are the stories coming up that may impact your money this week. citi and netflix will be reporting. the 44th british open will start. wednesday, janet yellin will go before congress, and friday housing starting for june will be released and lots of candles at disneyland, they celebrate their 60th anniversary. even though interest rates are expected to rice this year or early next year, what you hear in a savings account is near
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rock bottom. still there are deals to be had out there if you don't mind doing some digging. sharon epperson joins us now with the fastest path for growing your money. >> we're talking about savings how how kpeem put money to work in a savings account. you're saving something and that is the key point and there are so many places to do it. you can go to a traditional bank, a credit union, an online bank. it is important to look around and see where you can find the best rates and what kind of product will give you this type of return that you want as well. how long you want your money tied up and when you do the math, it could make a big difference. the average rate on a savings account right now is .1%, but you might find one that is 1%.
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>> you mentioned money market accounts, what are some of the other options out there? >> high yield savings accounts, a money market account. you could look at a money fund, you need to search around and look at the type of product right for you. again, you're going to tie up that principal for a year on three years or five years depending on when that cd matures. you have to figure out what is best and what is safest for you. i like nerd wallet because you can put it in, put in your zip code, decide if you want an online bank or zip code, and with many of the banks you can be anywhere in the country and use them. money rates is great as well. they have great rates and great studies.
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>> how safe is the money? >> as long as it is at a bank that is fdic insured, $250,000. that is why it is so great to have a money market or cd at a bank because you have fdic insurance. if it is a create union. they also have an insurance fund up to $250,000. if you have savings in a brokerage, that is usually in a money market fund, money market is not insured. >> i look forward to savings rates with a number on the left side of the decimal. >> wouldn't that be great? >> that is the program for today. i'm bill griffith. beck kwli be back next week with
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the founder of kayak.com. have a great weekend, everybody. see you next week.
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right now on nbc news 10 do to day, a philadelphia golf course becomes a crime scene after a woman is sexually assaulted on her way to work. this morning, her attacker is still on the loose. the latest on the investigation is coming up in a live report. taking our jobs, they're taking our manufacturing, they're taking our money. >> the donald is not backing down. and now he's not just taking aim at mexico, we'll head out on the campaign trail for an update on trump and the other presidential hopefuls. >> we'll finish the weekend on a high note. another beautiful day is on tap from the shore to

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