secretary la hood considers it a win-win-win situation. it helps struggling consumers to buy reliable vehicles they can get to lower their cost on gas and maintenance. second, it helps commune dealerships which are small businesses after all to weather the bad economy and third it helps to lower co 2 emissions and reduce fuel consumption. >> that's why he said win-win- win. under cash for clunkers you can get up to 400 -- 4500 if you turn in one that gets 18 miles a gallon or less. >>> the little things add up and when it comes to money sweat the small stuff. real simple magazine says handle the library fines and parking ticks as soas on u yo get them if a collection agency ats you for the fees the bank account and credit score will take a hit. pay the minimum on your credit card or if you do that, do it over time and you could pay thousands in interest fees so don't just pay the minimum i should say and step up your payments. >>> and here's another reason to pay your mortgage on time. one late payment can knock 100 points off of your cred

transportation secretary ray la hood officially kicks off the cash for clunkers program today at theportation headquarters. the program was supposed to start on july 1st but confusion over the rules and the effort to sign up car dealers ash the country delayed the official launch. to qualify you must trade in a vehicle that gets 18 miles or less a gallon and it must be less than 25 years old, must be drivable and registered in your name for one year. >>> david baker is due in court on wednesday to face drunk driving charges. police say he was driving a city vehicle when he hit another car in arlington on saturday night. his blood alcohol was twice the legal limit. he could lose his job since driving a city vehicle while intoxicated is a fireable offense. >>> an attorney for james james von brunn told the federal judge his client is not well enough to come to court. doctors told them the 89-year- old suspect maybe able to come to court later in the month. he faces a first-degree murder charge in the death of a museum guard stephen johns we say good morning to howard bernstein. >> some

transportation secretary ray la hood kicked off the program this morning. the buyer incentive program is designed to help consumers buy fuel efficient vehicles and booze boost business for struggling auto dealers. >> any vehicle must be more fuel efficient than the one traded in. that is good news for the environment and consumers wallets. p reporter: car owners rn uea s n n rn ueap $4to ,5 to00the eapurchase of a new car. al e trifinads y e ifadtrins drd luredabledr, manufactured less than 25 years ago, continuously insured by the same owner for h nsra ngti ofrating of alr -g o ssle18loanal o less and scrapped leand not sol and get 22 miles or more for the new vehicles. we have more information on wusa9.com and just click on living smart. >>> maryland football players have two more weeks until they get back to the grind, but for some their most important work has been done in the classroom this summer. i'm sara walsh. we'll explain why next. >>> plus, tony is back with the full forecast. stay with us. fab@fa if we don't act, medical bills will wipe out the

. >> reporter: transportation secretary ray la hood and key lawmakers congratulated each other for auccessful start. dealers around the country told them customers were responding in a big way. >> we need omething like this, casales have been difficult and here's something. >> reporter: jeff's dealership started taking in clunkers a few weeks ago in preparation for the program. he says they've done 140 cash for clunkers trades so far. >> there are quite a few cars that you can buy. >> reporter: add government money to dealer incentives and customers can walk away wita new hyundai or honda for less than 10 grand. the trade-in's are marked with x's so they'll go to a scrap yard instead of being told. the engine and transition -- transmission must be destroyed. dealerships are still reporting some trouble getting the transactions registered. fortunately it hasn't slowed down traffic into the showroom. >> this is going to be bringing people back into the market that might not have been there in the first place. >> reporter: congress set aside a billion dollars for the program. if this we

let's bring in transportation secretary, ray la hood. >> we know there are a lot of people in the showroomshis weekend and the show started today. i called home to talk to a friend who's a new car dealer and he had four deals pending this morning. i think you're going to see a lot of people in showrooms, people who have been driving cars with over 100,000 miles on them. >> i want to run through the requirements here. the car has to be less than 25 years old, get less than 18 miles per gallon. it has to be drivable. it has to have been continuously insured and registered for at least the past year. you have to prove it. you have to prove that's the case. i thought what i would do, because this a program really for american drives, that i'd let people ask you questions, so people were on twitter and facebook asking me questions and i'd like to pass them on. you up for this? >> of course. >> okay -- ask what the law says dealers are supposed to do with the other cars when they turn them in. >> they drain the oil, they pour a chemical in the engine. they turn the engine on and within a half hou

. >> reporr: transportation secretary ray la hood and canadian lawmakers congratulated each other fayl start. deals around the country told them customers were responding in a big way. >> we need something like this. car sales have been difficult and here is something to give us a gooboost. >> they started taking in clunkers here a fall week ago. paul hankas says high-def done 140 cash afor clunkers trades so far. >> there are quite a few cars that you can buy that will high pressure you qualify for the program. >> reporter: add government money to deal are incentives and customers can walk away with a new hyund or honda for less than $10,000. >> at that point, the car is dead. >> reporter: dealerships are still reporting some trouble getting the trance beings registered. that is due this part to the huge response. it hasn't slowed down traffic into the showroom. >> this is a stimulus package. this will be bringing people back into the market that might not have been there in the first place. >> reporter: congress set asid a billion dollars for the program. if this weekend's pace keep

my name is la toya, and this is my hood. i have friends that live here.party and stuff. >> so everyone, my name is jerry. this is where i hang out. i'll take you to the basketball court. >> reporter: latoyia and jeremy live around here, bushwick, brooklyn, bushwick weathered lootings in the '70s, and then crack in the '80s, the neighborhood is improving, but wrong choices litter the streets, a lure to many teens. >> right here, you can see. >> reporter: one right choice is the bushwick salvation army. it's where activists, the wife of comedian chris rock has come with a big, bold plan. she's going to select 30 kids age 12 to 15 and take them to south africa. she calls it journey for change. >> why did you focus on bushwick? it's kind of in a way a classic inner city neighborhood. it has crime, drugs, entrenched poverty, 50% high school graduation rate. is that why? >> no. these kids come from the bushwick salvation army community center, and it is a community center that my husband attended as a child. he really always talk about it being an amazing place

hood here for dvd sales. we also had lower ad revenues at espn and abc. same thing with the las vegas sands. look under the hood, serious demand weakness. occupancy dropped at all the casino hotels. chevron, below expectations. upstream, below. downstream lost money. we know it's been poor, but lost money. that's serious. tradertalk.cnbc.com. >>> we're looking at the possibility of an ever so slightly lower open here this morning. but barring a major a tcatastro today, god forbid, the longest monthly winning streak in almost six years.. during that five-month course of time it's up a who 4%. we're looking at yahoo! to see if there's a bomb of bounce e after the ceo of microsoft made some bullish comments about his new partner in advertising and search. he's scratching his head over the market's negative reaction over the yahoo! side of the deal. up juks a fraction right now. microsoft down half a percent. relatively quiet earnings here today at the nasdaq. solar is down 11% premarket. drive shift is up 3%. and bearian semiconductor up 6%. farmersmarket@cnbc.com. follow me on twitter at mhuckm

la toya. and this is my hood. i have friends that live here, you know, and partying and stuff.e're going to bush league. >> everyone, my name is jeremy baker. 15 years old. this is where i hang out. come over here. i will take you to the basketball court. >> reporter: la toya and jeremy live around here, bushwick, brooklyn, just five subway stops from manhattan. bushwick weathered lootings in the '70s, then crack in the '80s. the neighborhood is improving, but wrong choices still litter the streets. a lure to many teens. >> this is bushwick right here. >> reporter: one right choice is the bushwick salvation army. >> do you want to get in? >> reporter: it's where activists, who is the wife of comedian chris rock, has come with a big, bold plan. >> cheese! >> reporter: she's going to select 30 kids, age 12 to 15, and take them to south africa. she calls it journey for change. why did you focus on bushwick? i mean, it's kind of in a way a classic inner city neighborhood. has crime. has drugs, entrenched poverty. >> 50% high school graduation rate. >> reporter: is that why? >> no.

la toya. this is my hood. i have friends that live here. we party and stuff. >> my name is jeremy baker. i just hang out. i take to the basketball court. >> reporter: la toya and jeremy live around here, bushwick, brooklyn, just five subway stops from manhattan. bushwick weathered lootings in the '70s, then crack in the '80s. the neighborhood is improving, but wrong choices still litter the streets. allure to many teens. one right choice is the bushwick salvation army. it's where activist malock compton rock, the wife of comedian chris rock, has come with a big, bold plan. >> cheese! >> reporter: she's going to select 30 kids, age 12 to 15, and take them to south africa. she calls it journey for change. why did you focus on bushwick? it has crime, has drugs, entrenched poverty. >> 50% high school graduation rate. >> is that why? >> no. these kids come from the bushwick salvation army community center and it is a community center that my husband attended as a child. he really always talked about it being an amazing place. >> reporter: malaak believes that the children on these streets limi