i'm alison kosik at the new york stock exchange.ted to headline the annual developer's conference on monday, coming six months since he took a leave of absence. he introduced the new ipad 2 three months ago. they will unveil the icloud, the streaming music service. also expected to be introduced, the latest mobile operating system for ipads and iphones. on the economic calendar we get the beige book report which summarizes economic conditions across the united states as well as readings on consumer credit, the international trade balance, import and export prices and a look at wholesale inventories. on wednesday, the world's largest retailer is set to open walmart express, its first foret into the small store format. it will only contain 10,000 items, a sharp drop from the typical superstar. that's a look ahead in the week in business news. i'm alison kosik at the new york stock exchange. >>> one thing investors will be looking at this week is the price of crude oil. opec says they are planning to push for an increase in the oil sup

they've been sharing their story with our alison kosik in new york. alison?s really was one of those heartwarming stories, fredricka. imagine what it was like to be a gay couple living 60 years ago. you know, back then there was less acceptance and more discrimination. well, now two men in new york who lived through that time are hoping their time has come to finally walk down the aisle here in new york. ♪ in friendly persuasion >> reporter: they've been together for 61 years. and they'll never forget the first time their eyes met. >> we didn't know each other. i had a part-time job at the juliard to bring in money. in walked this man and i knew my life was changing right there and then. it did. >> richard is 84. john mace is 91. ♪ the radio and the telephone >> reporter: at this tender age they both still teach. it was music that brought them together professionally and personally. >> he would find excuses to come and sing for me. >> i want to sing for you. which really meant i want to be near you. >> reporter: they've been near each other ever since. after

alison kosik, cnn, new york. [ manager ] you know...e been looking at the numbers, and i think our campus is spending too much money on printing. i'd like to put you in charge of cutting costs. calm down. i know that it is not your job. what i'm saying... excuse me? alright, fine. no, you don't have to do it. ok? [ male announcer ] notre dame knows it's better for xerox to control its printing costs. so they can focus on winning on and off the field. [ manager ] are you sure i can't talk -- ok, no, i get it. [ male announcer ] with xerox, you're ready for real business. had a place for everything, and everything had its place. each day was fueled by thorough preparation for events yet to come, whether that be next tuesday's bridge club or the precisely organized retirement that lay ahead. well somewhere along the way, something quite extraordinary happened. emily went right on living. longer than any person has ever lived. oddly enough, she took it right in stride. because, you see, with the help of her raymond james financial advisor,

alison kosik has reaction. >> wall street held its own against new worries about the greek debt crisisonday. european finance ministers plans to wait until july to take action on greece is not sitting well with investors. the eu's pledge to prevent an ultimate default kept them from fearing the worst. u.s. stocks managed modest gains. the dow ended at 12,080, the s&p gained half a percent. caterpilar reported a 52% jump of sales in march, april and may compared with the same period a year ago. u.s. construction activity remains sluggish but demand for the replacement of older machinery helped sales. the company got a big boost from overseas with sales up 60% in latin america and 65% in europe, africa and the mideast. a big win for walmart at the u.s. supreme court today when justices ruled a massive class action lawsuit could not move forward. this is a landmark job discrimination case that would have included 1 million current and former female walmart employees. the supreme court essentially said monday 1 million plaintiffs is too many. the focus shifts to the housing market tuesday

i'm alison kosik in new york. >>> misery on the markets is being reflected in the homes and workplaceseople right across america according to a new cnn poll. the survey reveals that four out of five of the top five concerns among u.s. voters relates to the economy. as well as the overall economic situation, respondents expressed concerns about unemployment, petrol prices and the federal deficit. as if any more evidence were needed of the prevailing pessimism, 48% expect another great depression to occur within the next year or so. a key reason for the sentiment, well, it seems as though a similar number of people surveyed said they live in a household where someone has lost a job or fears that unemployment is likely to be imminent for them. and in troubled times, expect the residents -- sorry, the president's popularity to take another knock with these kind of figures. respondents put barack obama's approval rating at just 48%, down six points from a month ago. >>> and the pressure on the president will only grow if the u.s. economy contracts one more. former general electric ceo jack

thanks so much, alison kosik in new york. appreciate that. >>> now back to the casey anthony trial in florida. day 22 has just wrapped up. it was the third day of testimony by the defense. our david mattingly is at the courthouse in orlando. some pretty riveting testimony today, david. >> reporter: that's right. hearing a lot from werner spitz, he is the expert, a forensic pathologist, called by the defense, to bolster their claim that caylee anthony died by accident, by drowning possibly in her grandparents' swimming pool and she was not murdered as drugged and suffocated with duct tape by her mother as the prosecution claims. and the way he was able to contribute to this was saying, first of all, he felt that the autopsy that was done, he said, was shoddy. he was very critical of the fact that examiners here did not cut open the skull and examine the contents of the skull. he said, if they had, they would have noticed that the body had been laid out and decomposed, what they had laying to the side, not straight up as they h

i'm alison kosik in new york. >>> that's how stocks finished. let's have a look at how they're poised to open. the early indications is that we could see a lower start. the dow jones industrial average futures currently falling by by 0.3%, similar situation for the nasdaq and also the s&p at the moment. >>> and there were two. in the wake of dominique strauss-kahn's resignation, the imf leadership battle was men the to be a hard-fought contest between europe and the developing world. the roots to the top sees the fresh finance minister pitted against the mexican central banker. these are the two most likely candidates now that nominations are near the point of closure. one of them will become the m.d. of the international monetary fund. christine lagarde is known as a top international lawyer and a former synchronized swimmer who represented the french national team. she's the first financing minister from a g8 country. she's hugely respected in the realm of international economics. so too is augustin carstens. he claims his candidacy would brin

alison kosik joins us from new york. pretty alarming misstep here for the tsa. >> reporter: you said it. fredricka, this is really stunning how this guy was aledly able to get this kind of job using someone else's identity. who are we talking about? we're talking about jofan parter, charged with six counts of identity theft and three counts of forgery in miami, among others. american airlines says it is cooperating with authorities and their investigation. now according to cnn's miami affiliate wsbf, porter was arrested at miami-dade international airport on friday. you're looking at him at a bail hearing that happened today. he was charged with -- he was found with multiple forms of phony identifications including driver's licenses and a passport and is being held on a million dollars bond. that's what came out of today's hearing. an official tells cnn they will deport him once his criminal case is complete. the big question everybody wants answered is how is he able to become a flight attendant? the airline has put out

alison kosik, she never has to worry about that. she always looks good. to spin around, turn around. >> never. every now and then i have to check what's going on. >> what's this new product? >> so i had to check to see if i could say this on tv but what we are talking about here is genius. it is called the asscam. it is called exactly that. the clothing retailer, american rags actually trademarked that name. here is how it works. i want to pull up this picture. this picture tells 1,000 words. there is this closed-circuit camera that sits at your butt level. the mirror is in front of you. they have a guy checking out his behind, they don't have a woman. on left, you see the guy looking straight there, the eye level camera. at the butt lifl is tevel is th. you get to see this image of your back side streamed to the mirror. no more need to contort your body to see your back side. we all have to look our businese in our jeans. >> he is looking pretty good. you can't see the back side. you can just imagine. opening bell just a few minutes away. >> it is. you k

alison kosik, why is facebook doing it? >> for several reasons.ou to go ahead and put names on the photos that you upload. and also, you know, other people are chiming in on facebook, you know, many people calling it creepy. i put the question out on twitter. asking if it's creepy our genius. everybody said it's creepy. basically it allows facebook to build a data base of what its users look like. facebook recognizes you and then suggests your friends tag you. you can op out of this by setting some privacy options. facebook will still know that's a picture of you. as a user you're still included in this data base. a lot of people can actually do this right now. it was tested out late last year, and they faked this out, and critics say you can upload a random picture of a tree and tag yourself as being that tree, that will fake out the system. >>> stocks are pretty flat after fed chief ben bernanke didn't give the roseiest of outlooks. kyra, back to you. >>> a new setback for tiger woods. he announces he's peg out of next week's u.s. open. [ waves

>> alison kosik, thanks so much in new york. >>> arizona is battling one of its largest wildfires everthe hot spot. texas now fighting flames in one of its largest fires ever. we go live there, next. ♪ ♪ [ male announcer ] thanks to advanced natural gas turbine technology from ge, the power that will help make our nation more energy independent is right here in america. [ crickets chirping ] ♪ [ cheers and applause ] advanced gas turbine technology from ge. ♪ i thought it was over here... ♪ [car horn honks] our outback always gets us there... ... sometimes it just takes us a little longer to get back. ♪ [ male announcer ] want to pump up your gas mileage? come to meineke for our free fuel-efficiency check and you'll say...my money. my choice. my meineke. >>> an all-out battle is under way in east texas against one of the biggest wildfires in that area's history. the so-called bearing fire has burned more than 14,000 acres. karen staffer is on the phone from lufkin, texas. she's with the texas forest service. tell us what's happening right now with this fire, karen. >> hi. currently rig

that's this week's getting down to business, alison kosik, cnn, new york.u ever finish last month's invoices? sadly, no. oh. but i did pick up your dry cleaning and had your shoes shined. well, i made you a reservation at the sushi place around the corner. well, in that case, i better get back to these invoices... which i'll do right after making your favorite pancakes. you know what? i'm going to tidy up your side of the office. i can't hear you because i'm also making you a smoothie. [ male announcer ] marriott hotels & resorts knows it's better for xerox to automate their global invoice process so they can focus on serving their customers. with xerox, you're ready for real business. were not like everyone else. because, you see, they had something most did not. they had a tree... a tree that bore the most rare and magical fruit, which they tended to, and in return, it provided for their every financial need. [ thunder rumbling ] [ wind rushing ] [ thunder crashing ] and then, in one blinding blink of an eye, their tree had given its last. but all was not

alison kosik, i don't know where you find this stuff, i know we have talked about some crazy storieswhat's this option? that's new. personal pricing now on brakes. tell us what you want to pay. we do our best to make that work. deal! my money. my choice. my meineke. >>> leon pan knelt ta talks afghanistan and cameras making an appearance in your dressing room. time to play reporter roulette. barbara starr, i want to talk to you at the pentagon. the head of the cia, currently leon panetta, testifying today, telling congress how woe handle afghanistan if, in fact, he is confirmed as the next secretary of defense. what is he saying today (well, right now, he is walking a pretty fine line. at this hearing this morning, he talk about the need for not rushing, not rushing for the exit doors in afghanistan, sort of hinting that he would go with the general notion around the pentagon of a modest troop reduction, though he didn't use those words but then he talked about supporting the president's idea of significant troop reductions. he even used general petraeus's favorite words, that progre

alison kosik, the new york stock exchange. hi, allison. >> hi, kyra. this extremely do you dire warn. this 25% drop in home prices that you mentioned, it is huge. how huge? take a look. the median home price is sitting at about $163,000. a 25% drop would be $41,000 less. that takes the $163,000 home down to 12 $2,000. if you are a homeowner, what does that mean. you may feel stuck. you can't cell. it could lead to more under water homeowners who end up owing more on the home than it is worth. that could lead to more foreclosures and keep bringing down the home prices more. keep in mind, shiler does say this isn't an actual forecast. it is just an observation of what he is seeing right now. >> we talked about a double dip recession. was it yesterday or the day before? what do you think? does this forecast kind of revive those fears? >> it revives the fierce of a double-dip recession in housing. here is why. take a look. housing prices actually wound up weeki peeking around 2005, 2006. then, they tumbled and there was an uptick and now the prices are fal

alison kosik is at the new york stock exchange. what are we talking about here?reporter: billions of dollars in extra fees. last year the fees added up to almost $6 billion. this includes the baggage fees that you pay and the reservation change fees only. but i tell you what, these fees have been rising at a stunning rate. in 2007, we were at 1.4 billion in fees but, now, look how they have gone up so much. 2009 $5 billion and now look where they are. delta took in the most revenues from the fees. 5.7 billion is a tip of the iceberg because this doesn't count other fees like food, entertainment, pets, headphones. those are counted in a bigger report which comes out this month and get those numbers for you as well. >> let's talk about how important are these fees? can the airlines survive without them? >> reporter: you know what? an analyst put it this way. if it weren't for the fees, he said, the airlines would, most likely, be losing money so they really do need these fees. an industry trade group came out with a report last week, a forecast that wasn't the most

our alison kosik is with us at the new york stock exchange. alison, give us a sense.>> pretty darn bad, suzanne, to be honest. pay roll processing firm add had this report. a big miss. the expectation, private companies added 175,000 jobs in may. guess what we got? 38,000. you ask how bad is that? take a look. the average job gains in the past six months sat at around 205,000. you're seeing the number today, below the recent trend. then you take eve an closer look and see where the jobs are cut. cut in construction. in financial services. in manufacturing. it's really that decline in manufacturing that we're really noticing, because that sector had really been growing and there were hopes pin and manufacturing that that would really pull us into a more of a stronger recovery. what this essentially does, this report, sets us up for a weak government jobs report we're getting friday. suzanne, analysts are already cutting back estimates. >> what does this mean? a depressing housing report yesterday. now you have this out. what is the bottom line here? >> the bottom line

alison kosik with the details. is it that much? really?kyra, $2 billion a year. that's just when these boxes aren't being used. even when you're not recording or watching anything, the dvr is still on and using full power. how much? take a look. a dvr uses more than half the energy of a fridge. it also uses more than a 42 inch lcd tv and the cable box uses the same as the lcd tv as well. there's a catch 22. you can shut the box off. the problem is your shows aren't going to record. if you do have a chance to power down the system, it will consume less energy and there's usually a way to set most of those consoles to power down automatically after they've been sitting idle for a period of time. kyra? >> let's hit this wild week for the markets? up 100 points one day, down nearly 200 the next. now back up. >> it's been a crazy six weeks. the stock market has been all over the place. stocks are moving higher today, the dow up 73 points. investors are focusing on good news. we have positive signs coming out of greece that it's close to hammeri

alison kosik live in the new york stock exchange, with that story. ison tell us about this. >> hey, suzanne, it's about something called electronic stability control. this technology is available on all suvs sold in the u.s. it prevents rollovers and of course there are fewer car accidents and deaths. because of the technology, i want to show you something. it's interesting to see that there are fewer depths in suvs than cars. there's a survey that looked at 2006 to 2009, that in suvs 28 deaths, but in cars it's double that. this is a major shift when you look at it, cars are more likely to roll over than suvs which is really different than a lot of us used to think. suzanne. >> why is that? don't they have electronic stability controls too? >> that's a good point. esc is available in most cars but it is more common to see it in suvs. also, you know what? size matters, a bigger vehicle means there's more metal around you, also bigger means heavier and also more expensive, you wind up getting more features and enhanced design. to be fair, cars are safe

>>> we're back with alison kosik talking about safe places to invest your money. st talking about savings accounts and cds. tell us about money market accounts. >> okay. suzanne, money market accounts are safe places to put money now as well. like cds and savings accounts, these are fdic insured. if you're bank fails your money is still safe. money market accounts typically pay higher interest rates than savings or checking accounts but require higher balances. yush usually above $1,000. some up to $10,000. you get some check-writing privileges. some are limited and some require minimum dollar amounts. >> how do you decide what's better for you? a money market account or a cd? >> that's a good question. money market accounts are good for high-priced expenses. you have access to this money whenever you need it and rates are higher than on savings accounts. a cd is a better option if you know you won't needed money in less than six months and the return with cds is better. suzanne? >> alison, a question that doesn't really have anything to do with money. what would y

. >>> next on reporter you r roulette, alison kosik is at the new york stock exchange. discrimination case against walmart. it involved 1 million workers. this was a return not necessarily because the supreme court disagreed with the lower court's ruling but this was just too broad a case. >> reporter: exactly. this ruling came down after the fact that so many of these potential women plaintiffs, brooke, had so many different circumstances, so it really wouldn't be fair, the court said, to lump them into a single lawsuit. the justices said, you know what, there has to be a common thread through all of them. the supreme court says, you know what, there isn't. the court said there is no significant proof that walmart had a general policy of discrimination. with all this in mind, they went ahead and threw out the lawsuit. >> now this goes case by case basis, i suppose, at the lower court level. with regard to walmart, huge win for them, but had they lost, they would have lost big. >> reporter: they would have lost big, you said it. they would have lost in the billions of d

alison kosik joins me from new york. help me understand this. isn't an increase in shoplifting believed to be a sign of tough economic times? >> you know, that's what you would think. that's what i thought too. the numbers when you look at them say the opposite. you look back to 2010, after the recession, retailers say they lost $37 billion in sales because of theft. like shoplifting, that's up almost $4 billion. if you compare that to 2009, during the heart of the recession, last year, by the way, more than 40% of retail losses were inside jobs, i'm talking about employees stealing from their employers. here's the thinking on why numbers went up. during recession, retail employees are more afraid of being caught and fired. but when the economy improves and the chance of finding another job improves, employees take on more risk. >>> let's talk about the dodgers. what's going on with them? they filed for bankruptcy protection. what does this mean for the fans and the future of the season? >> exactly, so what's going to happen is the team is going

alison kosik at the new york stock exchange. let's remind our viewers.ts that we saw in february, teachers storming wisconsin's capital. let's talk about what does this new ruling do now? >> okay. this new ruling upholds a law that limits collective bargaining rights. it's a huge win for the governor. protesters kade out in madison yesterday. for teachers it's about their right to negotiate. for the wisconsin governor and republicans, it's all about the budget. the reality is dealing with a 6.3 budget hole. taking away p collective bargaining could mean lower wages. median wage of a union worker is $917 a week. for a nonunion work worker, it's $717 a week. this law also has union workers contributing to their health care and mentions as well. kyra. >> but unions have been shrinking in size, right? are unions that big of a factor anymore? >> you know, unions are shrinking, you're right about that. the fact is they have 15 million members nationwide. take a look at this map. it shows the states where 10% of their workers are unions. spread out in the midwe

back to you. >>> alison kosik, thank you. checking stories across the country.i nationals face life sentences for providing weapons to iraq. they were arrested last week after months of surveillance. the feds say they recovered one of their fingerprints frommen aundetonated ied in iraq in 2005. >>> in illinois, same-sex civil unionses are now legal as of today. they have the same protections as heterosexual couples have. >>> in phoenix, it is open dag for the weed grow store, a big box retailer that promotes itself as the place to buy your marijuana cultivation equipment. the company's third store front and first outside the state of california. >>> one comedian really wants sarah palin to run for president. why? he says the political comedy well has run dry thaand that pa will fill it back up. actually, not just palin. there are plenty of politicians to choose from. who need imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it.

let's bring in our alison kosik. what can we expect, alison, on this? >> reporter: hi, martin. we are expecting dominique strauss-kahn to plead not guilty to the charges. you know, although that's what really begins the legal process for him, already it's been quite an ordeal. it's a story that created an immediate sensation. >> dominique strauss-kahn, the leader of the international monetary fund and a possible candidate for president of france, was arrested earlier this morning for the alleged sexual assault of a new york city hotel maid. >> reporter: the allegations were sordid. inside, 62-year-old strauss-kahn allegedly was naken in the bedroom and grabbed at the maid, chasing her through the seat. authorities say as she tried to escape he shut the door and allegedly forced himself on her. sexually assaulting her. >> reporter: a late-night perp walk horrified his french countrymen. the next day his lawyers proclaimed his innocence. >> he denies these charges. >> reporter: the victim's attorney says she's telling the ruth. >> the trauma that has taken place in her life is ex

suzanne. >> alison kosik, thank you very much.win a spelling bee back in the day? well this smart young lady knows what it feels like. i'm going to talk to the new champion live next hour. i'm going to hear the way she actually prepared to win. >>> but first, what's the favorite school subject for most of the spellers? the answer, that could surprise you. [ male announcer ] to the 5:00 a.m. scholar. the two trains and a bus rider. the "i'll sleep when it's done" academic. for 80 years, we've been inspired by you. and we've been honored to walk with you to help you get where you want to be. ♪ because your moment is now. let nothing stand in your way. learn more at keller.edu. her morning begins with arthritis pain. that's a coffee and two pills. the afternoon tour begins with more pain and more pills. the evening guests arrive. back to sore knees. back to more pills. the day is done but hang on... her doctor recommended aleve. just 2 pills can keep arthritis pain away all day with fewer pills than tylenol. this is lara who chose 2

finally here let's go to alison kosik at the new york stock exchange. angeles on the dodgers, the team filing for bankruptcy protection and i know you and i have talked about this story before. my question is this, is this more business or it has to have a little something to do with the messy divorce the owners are going through. >> reporter: it does. it is a little of each. a little financial, a little of that soap opera drama for the l.a. dodgers. for its season so far, you know, with the very public and ugly divorce of its owners, frank and jamie mccourt, it seems like they're getting more attention than the team playing on the field. the team owes a lot of money to current and former players and owing that money to these other players means it has less money to spend on new players. the team was hoping for a big cash infusion from a new tv deal, but the baseball commissioner bud selig, he rejected it and said that this deal was designed to line the pockets of the owner, but not help the team. the good news for those who are dodgers fans, you know w

let me bring in now cnn alison kosik joining us on this cnn saturday morning from new york talking about the jobless numbers and you did not bring good news with you. we got this news yesterday. unemployment rate goes up and also the number of jobs goes down. >> that's right. you know, think of me as just the messenger here. you're right, t.j. the unemployment rate ticked up to 1.9%. while it's a small move, it's a move in the wrong direction. the thing here, job creation is moving in the right direction, but the problem is, it's slowing down. the number of jobs that are actually being added to the economy isn't enough to bring the unemployment rate down and really get the economy moving. now, of course, as you know jobs are huge factor in powering this economy forward. you know, it has a kind of spider effect. if i don't have a job, i don't have as much money to spend at your shop and that can affect your job and so on. that's why we really watch these numbers so closely because of that domino effect. investors were watching it, too. we saw the fifth straight losing week on wall street,

alison kosik, cnn, new york. [ manager ] you know...e numbers, and i think our campus is spending too much money on printing. i'd like to put you in charge of cutting costs. calm down. i know that it is not your job. what i'm saying... excuse me? alright, fine. no, you don't have to do it. ok? [ male announcer ] notre dame knows it's better for xerox to control its printing costs. so they can focus on winning on and off the field. [ manager ] are you sure i can't talk -- ok, no, i get it. [ male announcer ] with xerox, you're ready for real business. the authentic, the rare, the hard to define. to those always searching for what's pure and what's real from we who believe we know just how you feel. haagen-dazs. ttd# 1-800-345-2550 ttd# 1-800-345-2550 ttd# 1-800-345-2550 and talk to chuck about ttd# 1-800-345-2550 rolling over that old 401k. >> when you begin to go out there and ask people to vote for you, they're probably not going to vote for you if they can't say your name. you know, my name looks like beaner, bonner, boner [ laughter

alison kosik. alison, bottom line here, what is the main fear with regard to this crisis in greece?s in greece will wind up having a ripple effect right here to the u.s. this worry is ever-present for the u.s. markets. you know, if greece doesn't get its debt issues under control. citizens are rioting, because they're not happy with the austerity measures, the spending cuts that parliament is trying to pass. some of those measures would include a pay freeze, raising the retirement age, pensioning would be cut, they would see higher taxes. these are tough measures, but the fact is greece has a huge debt problem. they've already gone a $150 billion bailout, and they need another. so the spending cuts need to be a part of it, and the tough measures do as well. >> demonstrations day after day there in greece. secondly you have some news about new technology. i officially am an iphone user. >> congratulations. >> thank you very much, but now you're telling me there's new technology, apple could stop me from taking video somewhere? >> this would be for live events. they're working on this

alison kosik has a story of pandora. >> reporter: it was a roller coaster week for stocks as investorsrestled with economic concerns at home and abroad. pandora became the latest internet name to begin trading at the new york stock exchange. shares surged after the wednesday ipo. but enthusiasm wore off as they ended the week well below the offering price. pandora never turned a profit and relies heavily on advertising revenues. >> thanks, allison. new numbers confirm what most already know. college is too expensive. according to the college board, tuition and fees at public universities have more than doubled since 1988, while middle class incomes have been stagnant. department of education says a growing number of middle class students are opting for two year programs instead of traditional four year degrees. that may be a good short term financial plan, but could hurt earnings potential in the long term. >> the federal reserve is scheduled to meet this week. no major changes are expected, but investors want to know how the fed plans to tackle the slow economic recovery. job growth h

we start with alison kosik. >> reporter: tractor-trailer sa toyota has the earthquake is hitting itsottom line. they expect profit to drop 31% this year, in real dollars that's $1.6 less than last year. this could give room for american automakers to move up. gm could reclaim the title of world's biggest automakersp. ford is ramping up an effort to grow. ford is hoping to sell 8 million vehicles by the middle of the decade that's an aggressive plan since ford currently sells about 5 million a year. alicia? >> thanks. there were new signs this past week that the job market is likely to remain under pressure for a while. ihs global insight is expecting state and local governments to cut a record high 110,000 jobs in the third quarter. the study says teachers are likely to bear the brunt of the job cuts, and worse, this could be the tip of the iceberg. many states are still dealing with budget problems because tax receipts are still below prerecession levels. poppy harlow has a look at what's coming up in business news. >> thanks so much. president obama is heading to north carolina nex

alison kosik at the new york stock exchange. so alison, how bad is it? >> it's just not good, kyra.is, the reality is for so many families they're just being priced out of a college education. here's what's happening. college prices are going higher, but wages certainty. let me lay it out. the average tuition at a four-year public school in 1988 was $2800, that's adjusted for inflation. in 2008 it was $6,500, a 130% increase. guess what? it doesn't count room and board. keep in mind the medians income decline. that means it's really tough financially just to afford to send your kids to college. >> so you crunch the numbers a couple months ago, and it's pretty scary where my kids will be in 15 years. is there any way to deal with the financial burden? >> you know what, for many families it wound up being tough choices. the department of education says what's happening is fewer middle-class students are going for the four-years degree, instead a two-year degree. what you wind of doing you could be hurting your earnings potentially, because that two-year degree may start you at a lower

poppy harlow has that story, but first alison kosik tells us about pandora, the web radio company. >>ller coaster week for stocks as investors wrestled with economic concerns at home and abroad. pandora became the latest big internet name to begin trading at the new york stock exchange. shares of the personalized radio company surged after their we'd ipo, but the enthusiasm wore off quickly as shares ended the week well below the initial offering price. pandora has never turned a profit and relies heavily on advertising revenue to offset high royalties. >>> new numbers confirm what most people already know, college is too expensive. according to the college board, tuition and fees at public universities have more than doubled since 1988. while middle-class incomes have been stagnant. the department of education says a growing number of middle-class students are opting for two-year programs instead of the traditional four-year degree. it may be a good short-term financial plan but it could hurt their earnings potential over the long term, poppy? >> that's correct so much, felicia. the

alison kosik has today's hot tip.g gas and not even know it. >> if you're like me, my eyes pop out, i do the double take. if you're looking to ditch your gas guzzler, consumer reports just put out is list for best new cars for few economy. for subcompaction, the honda hatchba hatchback, the toyota corolla le, and ford escape hybrid, and toyota highlander hybrid. they also mean "consumer reports" requirements for safety, performance and reliability. if you want to stick with your current car, aa warns don't run your gas tank to empty. if you don't have the minimum level of fuel, so good rule of thumb, suzanne from aaa, always maintain at least a quarter tank of fuel. suzanne? >> i guess i'm guilty of that, actually. >> not good. >> none of us like to sit in traffic, but we all want to get there faster, aggressive drivers, speeders, i'm one of those too, but it might cost more in the end? >> i'm in that camp as well, but a word of warning to you and me, we're actually lowering or gas mileage by up to 30% on the highway,

alison kosik is here with top tips. allison, you know, they think their job is done.ink their job is done, we come back. >> parents' job is never, ever done. 42% of parents say they learned the most about personal finance right from their own parents. but the national foundation of credit counseling says many are coming back to the nest for financial help. the reason? some feel they have worse off. 65% of adults between the ages of 18 and 39 say the financial strain they're facing is tougher than previous generations and many parents a third say they had it easier than their kids' generation when it comes to finances, suzanne. >> a lost folk, they move back home. it's not easy on the kids or parents, they said we get peace and quiet. now the kids are back, adult kids back. do they pay rent? is that part of the deal? should it be part of the deal? >> it could be. housing is the top way parents are providing financial support. if you got a college grad or unemployed adult child coming back to the nest. first establish a plan. the author of the real cost of living said s

alison kosik is in washington, what do we see on theside lines.ress has done a lot for the economy since 2008. bailed out banks, auto industry, extended unemployment benefits. put out money for infrastructure projects, extended bush tax cuts. all of that cost money. trillions of dollars, now the government reached its debt limit. that means it can't borrow any more money. at this point it look like it boxed itselves in. don't expect another stimulus from congress. you under this, it's a political hot potato. >> if the economy continues to slow down, something has to be done. what about the federal reserve, can it do anything? >> it can. there's been a lost talk on wall street lately about what the fed can and cannot do. right now the fed is buying hundreds of billions of dollars of bonds. what this is is a type of stimulus. it pumps extra cash into the economy. the thing is this program is expiring at the end of this month. the question, will the fed step in again? we'll look at clues when p ben bernanke speaks this afternoon. we're hearing other

alison kosik, should we name everything on the list? >> reporter: where do i start, right?me it. poor service. really annoying bag fees. the higher ticket prices, not to mention even more bad news on that front. travelocity seeing air fares rising another 10% by thursday and not help the warm and fuzzy feelings for the airlines right now. guess which airlines is rated worse in customer satisfaction? delta and northwest. southwest gets top billing, number one. it's had that spot for 18 years now. in the meantime, the same survey finds that travelers are more satisfied with the hotels where they are staying. some of the top rated chains including hilton and marriott and starwood. here is what we like from our hotels. lower rates and more perks like fancy gyms and easier to accumulate the award points and a lot more choices with hotels so we can shop around and get the lowest rate we want. a lesson to the hotels and airlines. travelers value low prices. when you throw in a perk or two every once in a while. >> a perk or two. i'm still waiting for the perk or two. alison, thank

alison kosik joins us from the new york stock exchange. is looks like a dire situation in minnesota. i tell you what, the clock is ticking on this. what he did is sent out layoff notices to state workers. all 36,000 of them. ultimately up to the courts to decide who gets laid off. they divide them into essential workers, essential is likely to be police officer, firefighters. emt and sanitation worker, road construction would stop and nonprofit agencies and state colleges would close. this could really be a huge painful ordeal for the residents there if this indeed happens. suzanne. >> budget issues common. i expect we might see this in other states as well. >> if you remember, the federal government was in danger of shuts down in april. as far as state governments go, shutdowns aren't that common. >> for minnesota it's happened only once in the state's vis history. what happened, states pass a short-term fission that gives lawmakers extra time to discuss the budget. >> that happened in april. minnesota's deadline is coming up. what they ne

sounds good, but alison kosik is here to tell us that that number isn't really all that it's crackedto be. what is the story? >> reporter: you're right about that, kyra. you know what this is is all about? a paper work backup so it doesn't mean the housing market is getting any better. this is all about the fallout from that row bow signing debacle we have heard about in the past year or so when banks fr foreclosured on people that they shouldn't have. banks are dotting their i's and crossing their t's and banks are no no rush to repossess homes. they repo cessing homes faster than what they can handle. >> reporter: we have new numbers on the new housing reports. >> reporter: we got hopeful signs for the broader housing market. building permits which is a sign of future building they hit a five-month high. the big question in today's rough economy is will those houses actually have buyers? we also got good news on jobs. new unemployment claims fell by 16,000 and stocks wind up -- future, rather, right now, flat on that news. we could wind up having a bit of a hangover from yesterday,

. >> to bring in our business news correspondent alison kosik into the conversation to give us a sense of how this law is impacting people. we already know, we've seen it's scaring off immigrants and farmers across georgia don't have enough workers to harvest their crops. what kind of situation are we dealing with here? >> it's exactly what you said. when you look closer at the numbers, they're stunning. these forme efarmers are gettino 70% fewer workers. no one will be working the fields. these crops will die. one farmer says he's lost 60% of his squash plants and 40% of his pepper crops. the next planting is in august. some farmers are considering not spending anything. >> what does this mean for the price of groceries? >> you know what, believe it or not, the georgia growers association says it won't have an impact on pricing. that's the silver lining. fruits and vegetables are plentiful in the summer so prices typically drop. instead, the crop is going to stay the same, the prices will, too. as for the rest of the country, georgia isn't one of the top food producers. it really shou

alison kosik new york stock exchange with the details. >> the question is how best to keep out a hacker. of course, you can hire one. george hoats made a name for shim elf by unlocking apple's iphone in 2007 and left it open to be hacked and figured out how to hack into sony's playstation network and posting instructions online. that caused a 24 million dollar security breach there. reports say this guy has landed a job working at facebook and reports say a software engineer there to work on the new facebook ipad app but something tells me he is also going to veer into consulting on the security end of things. tech companies, they always say they want innovators, people who think outside the box. maybe a hotz on their side to see how hackable facebook. inspe keep in mind, this guy is only 21 years old. >> you wonder where that all comes from. >>> seeing new pictures of the protests in greece. let's talk -- i mean, yesterday, the markets closed up, but we're seeing they are getting nor violemore violent. we know how it's impacted the numbers in the past and our 401(k)s. what do you think

alison kosik joins me from the new york stock exchange.a lot of people are ready to walk out of the door for good. >> reporter: yeah, when you're fed up, you're fed up. according to this study, 30% are seriously thinking about quitting. that's mostly younger workers who are thinking of getting a new job, they tend to have less company loyalty and are likely to switch jobs. an additional 21% have a negative view of their boss and are just checked out mentally but they will go ahead and stay put. what's interesting about this study is that no matter where you are in the food chain, these negative feelings, they hit all career levels. >> what's driving this, do you think? >> reporter: you know, they're not happy with what they're being paid. that's understandable. we watched wages stagnate during the recession. they haven't gone up much since. other issues are career development, health care benefits, because what's happening here is employers are asking a lot more of their workers these days. employers cut workers during the recession so the

alison kosik, this will affect all of us because there is a ripple effect. how does this happen? what can we see about our own retirement funds if you take a look at these demonstrations in greece? what's the connection? >> reporter: well, the demonstrations themselves not having an impact on the market today but you talk about what's happening in greece financially and it's really the big fear of the unknown that's the concern, that could wind up driving down stocks throughout europe and here at home. the very same stocks that i'm talking about that are in the funds that make up all of our retirement portfolios. one analyst says the biggest threat to the global economy in terms of what's happening in greece is psychological because when you think about it, the greek economy isn't huge, but it's connected to a lot. it's like six degrees of separation. if greece defaults on its debt, it could disrupt the european banking system and cause investors to pull their money out of the markets. a big problem here is that we really don't know how big the ripple effect will be until it happ

let's start with alison kosik at the new york stock exchange. alison, hey, there.eyes are on greece right now. are we talking about another bailout? but before they can get to that bailout, they've got some work to do. >> looks like things are getting better there. european leaders cleared a big hurdle in the way of a solution today. germany agreed to not to push for federal investors to share some of the burden of bailing out greece. that had come under pressure from the french government. so this compromise definitely calming investors in a big way, especially here on wall street as well, t.j.. >> help people understand how this affects them. they think, greece, that's their problem, a long way away, not my issue. that's not necessarily the case. >> exactly. it's not necessarily the case, but this greek debt issue has been going on for a very long time. it really shouldn't cause a huge shock to your 401(k). when you think about it, the s&p 500 has closed lower for the past six straight weeks. and because our 401(k)s mirror that index, we've already seen a dent in

alison kosik is on the floor of the new york stock exchange for us, and what do you know?bs number put the exclamation point on the fact that the economy is slowing down more. i want to talk with one trader joe greco with the meridian group, and what sets this up for us, joe? >> well, what everybody is concerned is a slowdown of the pace that we had which was a nice recovery pace is now maybe a halting of the recovery pace. i think that people are concerned that the economy is going to go in reverse and perhaps we will have a double-dip recession which is a big concern for not only traders, but everyone. there is a lot of uncertainty as to what is going to happen next year going into be next year with the presidential election and a lot of people in washington right now who are waivering to make a good decision in the best interest of the country. >> but this is the first sort of really bad jobs report compared to what we have had in the past couple of months where we have seen job additions of 200 to 250,000 per month, and does one bad report make a trend? >> no, it does