this is what we're calling watered down luxury. names like coach, michael coors, and tiffany's. a book about new american luxury, we'll show the book up there. we appreciate you coming on, michael. thank you very much. i understand why these companies do it, right? cheaper means more buyers, but doesn't it also crush the cache? >> i don't think so. and if you look across a wide variety of categories, what you see is consumers, in droves, flocking to get a taste of luxury. not trading up in 20 categories, but trading up in one, two, or three categories where they become an expert. whether it be wine or vodka or purses or cars. they pick a category and it makes them feel special and it allows them to ladder up emotionally. >> but if me and lorenzo are rolling in our benzo and i have a $63,000 amg and i see a $30,000 car, i'm not going to think that the amg is so special. >> well, i think if you went into the car rooms and you actually saw whose going into the shops and what cars they're looking at, they segregate. the $200,000 cars,

it's about feeding the zooming chinese auto luxury market. sales will be $3 million annually. >> the market in california ebs and flows but china is earmarked as the luxury market. >> the boom has been a missed opportunity for some, and gm is enjoying success with cadillac sales as they are adding for dealerships here and next year, ford will be bringing the lincoln brand to china to begin sales in asia. >> it will be interesting to see how the lincoln does there. it hasz been struggling so much. aren't the numbers amazing. >> they are. and having been there a year ago, you city german brands and a large portion of roles royces. hong kong has the highest level of -- >> you want to make a splash. it's really something over there. >> well, that is it for us tonight, "nightly business report." thank you so much for watching. >> and from me as well. thanks for joining us, have a great evening, we hope to see you tomorrow. "nightly business report" has been brought to you by thestreet.com. our dividend stock adviser guides and helps to generate in

this is his first european luxury car purchase.his new car cost more than $160,000, and he paid half the amount in cash. >> translator: paying the monthly installments can be difficult sometimes because business is not going well all the time. i feel proud to be driving this car because there are many people who dream of owning one, but they might never get the chance. but i can. >> reporter: thanks to his purchase, kriwich's now joined an exclusive club with more than 10,000 members. beside its comfort, his car also functions as a very conspicuous symbol of success. with booming economies across southeast asia, premium carmakers are planning more expansion in the region. >> asia was never -- we never left the focus on asia. and so we're investing in our plans to increase our capacities to fulfill the marvelous market demands. >> reporter: as luxury cars become increasingly popular status symbols for the nouveau riche, the emerging economies have become both a dream have become both a dream opportunity and a cutthroat battleground

and non-model undreamt luxury models.e inside. i asked if the interior of the car is just as important as the outside. >> you live and drive inside your car. the people don't think about this. i have a rule that you are what you drive. [laughter] >> what is interesting is when you think about what is inside the car, technology has really blossomed. the interior has gone so fashionable. gerri: take a look at this. can you give me a little run down on this? >> it is a purple metallic. what is interesting is that it's almost a plan. the center is made of aluinum. those wines are very distinct. they are also using composite plastics to create these types of shapes. also, note this headlight. what a piece of art. >> i am really excited about seeing the inside of a car. >> look at the finish. >> that is a real wood bonaire. every stitch from the ceiling to the dashboard is hand stitched. this is nothing but machine. even cool things like this. >> wow. >> this is real aluminum. >> this is the ultimate luxury. >> i love this tech

it's a luxury market. now we're selling luxurious homes like this. >> garnett smith is bill's partner. she loves the small town world of aspen real estate. looking around these houses are gorgeous, and they're enormous, and they're on this amazing hill. you can see the gondola in the background. what does something like this cost? >> which one? the one we're in would probably sell for about $9 million, $10 million. across the street $15 million to $20 million. >> with millions of dollars at stake and a growing international clientele, it's no surprise that big companies took notice. local independents like bill's stirling homes, b.j. adams and company and peak properties of aspen now face stiff competition from big-time brokers like christie's, sotheby's and coldwell banker. >> i think the circumstances in town, we couldn't just ignore these behemoths coming into our marketplace. >> so how does a local small business compete with the deep pockets of big brands? >> did i tell you i got the price reduction?

a maybe 40 percent said the luxury. but 90 percent agreed that 5 out of 5 mostly in reaching their agreement i take a limo because it will come to their home. now, when he go to compare city's on a per capital basis san francisco is the red one there. you can see cities with fewer and more taxis including new york which is served by black cars in new york not taxis. we need to place e ourselves here to see how many taxis we need. one place that san francisco stands out is the low levels of vehicle ownership. a lot of homeowners can't food the vehicles. so a few points of interest on a scale diagram we're gop up and to the right have the highest level of non-car ownership. so san francisco is the red dot you see it's below that average line. as the line rises the higher the average number of taxis. if san francisco would move up to the average line the pink bar that would be a 90 percent increase in your number of taxis. but that's overstating your need because that's also cutting into the profitability. in washington, d

a maybe 40 percent said the luxury. but 90 percent agreed that 5 out of 5 mostly in reaching their agreement i take

miami's gleaming skyline towers over sun-drenched beaches and waterways, punctuated with luxury cruise ships. it's no wonder that this is a popular vacation spot. but miami is also a hotbed of illicit drug activity that generates a constant flow of men and women into what has become the sixth largest jail in america. miami-dade corrections is made up of five separate facilities located throughout the city. housing nearly 7,000 inmates. every year, approximately 100,000 men and women are processed into miami-dade. many of them arrive here at the main jail, also known as the pretrial detention center. >> the main jail is considered the hub because it's right next to the court building. and all of the inmates that go to court are staged at the pretrial detention center where we have a bridge that connects with the courthouse. >> listen, up listen up.

two dozen of luxury? -- who doesn't love of luxury? afford it and to really can be on the waiting list for the purse? a fox business exclusive with the tough cut -- tomcat one of the biggest french companies, and it is official. jay leno will wrap up 23 years of late-night television and the spring of next year. happy 40th to the cell phone, not me. the cell phone. can you believe we survived a day without these things? here are some clockwork pictures of some of your old phones that you all sent in. take a look. ♪ hi. i'm henry winkler. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how a reverse mortgage works, how much you qualify for, the ways to receive your money, and more. plus, when you call now, you'll get this magnifier with l.e.d. light absolutely free. when you call the experts at one reverse mortgage today, you'll learn the

it was once a recently completed forty story a lavish hotel which also boasted luxury apartments almost completely immersed by smoke and flames dozens of fire brigades are fighting the blaze or people said to have been evacuated from it before the became out of control the sky scraper is part of the city complex of high rise office and apartment buildings worth around two hundred fifty million dollars these are the latest pictures of that fire there in the chechen capital a movie star who was recently handed the keys to an elite five room residence in the complex that's after he wired russian citizenship later in the program we'll have a report from our correspondent on this developing story there in grozny the capital of church. tensions once again flaring up on the border between israel and gaza palestinian militants launched rocket attacks on tuesday and early this morning with israel retaliating the ongoing hostilities and street clashes were partly sparked by the death of a former hamas member in israeli custody sees. the details. for the past forty eight hours there has been incre

people's eyes light up when you talk about electricity that we used to think of electricity as a luxury and in the early one nine hundred ninety percent of farmers didn't have it kids in new york city were playing with electric toys controlled by private utilities that were consolidating and not subject to any oversight that was a huge problem for the. and it took a decade several decades actually to move electricity from the status of being a luxury into being a very heavily regulated utility same thing happened with the telephone and now needs to happen with high speed internet access where you're talking about really i'm sort of sorry it's not just information i don't want to make this abstract that coming into every home and business is our window to the world it's health care education absolutely everything that we do this is this is this is core stuff this is this is essential stuff for citizenship and for quality of life this is i'd like to get into the the part of the title of your book is the gilded age i'd like to get into that right after this break we'll be right back more o

city from the status of being a luxury into being a very heavily regulated utility same thing happened with the telephone and now needs to happen with high speed internet access where you're talking about really i'm sort of sorry it's not just information i don't want to make this abstract that pipe coming into every home and business is our window to the world it's health care education absolutely everything that we do this is this is this is core stuff this is this is essential stuff for citizenship and for quality of life this is i'd like to get into the the part of the title of your book is the gilded age i'd like to get into that right after this break we'll be right back more of our conversations with great minds with susan crawford where after. all are all. the things he. really. let me let me i want to know what all let me ask you a question from. here on this network is we're not in the bank we have our knives out if. we do this right it's a bad thing there again here in this great way of being i don't want to talk about surveillance. you know how sometimes you see a story and

thank you and a (calling names) >> good afternoon charles on behalf of luxury cab and we you're going to to support all the proposals that are before you today. we agree that there are a lot of taxi cabs on the streets today. more cabs are a prerequisite too important service. more cabs is also crucial to restoring some semblance of the law and order to the transportation services on the streets in san francisco. and i don't believe that you're being asked yet to decide exactly how their to go distributed but i want to commits on the s program it's a success program. i do note there's a suggestion to reduce the hours but i hope i won't break this successful program. and a (calling names) >> hi i guess i'm stuck in a time warp. some people missed the fact i said a lot of critical things about your people and i'd like to thank attorney morley and others for the battle against the illegal ride sharing services that they took to the c puc. i think the doctor did an excellent study, however, the part about the ride sharing services is very much lacking. someone said there's about 2 thousan

taxi cabs are a luxury as evidence by demand. if everyone made as much as 10 years ago the story would be very different. the real pig here is real estate that most people cannot afford. the oldest bakery in paris -- now they are no longer open. keep the city respectable and the gem that it is and magnificent applause. >> thank you. my name is mic -- you have spoken already? >> yes. >> the rules of the city of san francisco thank you very much. next speaker please come forward? >> my name is stewart -- i am a driver and an owner. i drove last friday and i'm down at the hyatt, regency there was a black car parked in the taxi place where they wait and he told me in a sense to take a hike not so politely he's not going to move. i tried to stop at the taxi stand i tried to stop there there's no parking place you got a limo a bunch of black cars no parking place. down triple five california there's a taxi zone half the time the black cars are right in front of the entrance there. these problems have been truly arising and have come up

. >> she spent lots of times in luxury hotels. her clients included businessmen, lawyers, and prominent public figures. she will not say anymore. then frequently but prostitutes like her, but with the utmost diretion -- men freentl booked prostitutes like her but with the utmost discretion. >> i had to know what was on at the theaters and be able to talk about politics. we need good general knowledge. first, you go out to eat. and then comes this magic moment, and things go further. back then, i really enjoyed these encounters. >> she says the fun stopped when the sarkozy government prohibited all types of advertisg for prostitution. business moved to the internet, where prostitution rings operate illegally. that meant that she had to find a pen. from then on, she was forced to accept the clients that he chose. she could no longer set limits. >> customer behavior changed completely. they became very rough and wanted to get down to business right away. they had no respect for us anymore. >> the violence of the french sex trade was

three powerful anti-aging formulas combine into one luxurious serum.called creme de serum. >> i was sold right away because this rocks. and it has such a silky glide on your skin. >> in the creme de serum, at the end they mix together and you achieve cream. then you go the best of the best. you can creme de la creme. >> as soon as you apply it your skin just instantly feels tighter and it feels like you can just feel your pours shrinking. and it is amazing. >> in the next few minutes correspondent, katrina szish takes you deeper inside the story of cindy and her "wonder doctor." >> as cindy shares how you can get access to the man whose amazing formulas have worked their wonders on cindy for over 17 years. >> there's probably nothing in my life that i do that's more exclusive than spending time with doctor sebagh. >> and what if you could have your own personal visit with doctor sebagh? >> watch as one lucky meaningful beauty customer receives a surprise invitation from cindy. >> hi, this is cindy crawford. >> oh, my gosh are you serious? >> i am serio

this luxurious formula removes dry, flaky skin without stripping your skin of essential moisture.iffusing serum. this is the anti-aging powerhouse. this miracle serum is packed with phytoestrogens, soy, wild yams and glycolic acid to help stimulate collagen production, clinically proven to increase skin firmness by up to 42% in just 10 minutes. and instantly lock in hydration with step three: age-balancing night cream. this ultra rich moisturizer is packed with retinol and shea butter to reduce the appearance of fine lines and wrinkles on even the most sensitive skin. >> male announcer: it's perfect for all skin types and brings out that beautiful, healthy, glowing skin murad is famous for. >> female announcer: you could spend hundreds, even thousands of dollars on painful procedures without achieving the lasting results you're looking for. >> male announcer: sold separately at retail the regular price of resurgence is $182, but when you call now and buy direct from our warehouse, you can restore your youthful glow with a full 30-day supply of resurgence for only $49.95. you won't

brands such as porsche, which has emerged as the world's most popular luxury. >> it averaged a profit of 17,000 euros per unit sold. general motors and ford ended up at the bottom of the profitability table, incurring losses of more than 800 euros per unit sold. >> chancellor merkel has said germany will not bailout its crisis-hit shipping industry, despite its important role in germany ross export economy. >> merkel was -- germany's export economy. >> urkel was speaking -- merkel was beating at a conference. -- merkel was speaking at a conference. she said investment in infrastructure projects like a canal would ring results -- bring results. >> time for soccer news. just one day after i am unit secured a record of 23 ash a record -- they are in munich secured a record -- byron munich -- bayern munich won a record 23rd title -- >> he set them up. another player knock them down. they earned their club a lucky win. if nÜrnberg were lucky, their opponent was anything but. nÜrnberg produced nothing in the opening period and were poor after the break, too, until the 54th minute. the defen

they are able to afford watches and purses and other luxury items. we want to make sure california wine is part of the luxury consideration. >> many tourists discover california wines when they visit, but wine country has a lot of growing to do in china. that's because two other countries dominate the market there now. >> that would be france and australia. the rest of the wine producing world is in a pack trying to catch up. france has been active in the china market for a longtime. >> a series of lunches and formal dinners will will be a part of the trip. hundreds of cases of california wine are being shipped to accommodate the events. back to you. >> sergio, thank you. >>> business is booming around san francisco's china basin as the defending world series champs return to town for their home opener. a sea of orange and black flowed to at&t park where the giants hoisted their new championship banner today. the team returns after making big off season investments in star players like buster posey and matt cane. and fans coming to the ballpark are f

. ♪ plus real estate market taking off again look at the luxury homes and how much they are going forqueline: the cooling trend continues tomorrow i will coming up next week will have to be addressed in your neighborhood. omomg,g, stop. jack, your new chipotle chicken club is craze amaze. annnd chipotle is totes trending. spspicicy crispy chicken, hicky smsmed bacon,on memeltlting cheese, and smoky chipotle sauce plus fries anand d a drink for $4.99? tht combo is chipot-cray. anand d chipotle is my hashtht faveflave. lelet t me guess-you're the nw social media intern.nt yeyeahah! grgreaeat. i'm late for a mee. can you make some copies? .....w.with the tannnng bede to women are under arrest for tying up and dance tying them up their hands and legs with blankets over their face that they could hardly but brief. >> pam: both women are in custody facing a million-dollar bail also in the east bay and has been a rough week for the antioch school district with three different bomb threats just today and one yesterday and one on monday. officials say and parents say that they are on a ridge.

they are able to afford watches and purses and other luxury items. we want to make sure california wine is part of the luxury consideration. >> many tourists discover california wines when they visit, but wine country has a lot of growing to do in china. that's because two other countries dominate the market there now. >> that would be france and australia. the rest of the wine producing world is in a pack trying to catch up. france has been active in the china market for a longtime. >> a series of lunches and formal dinners will will be a part of the trip. hundreds of cases of california wine are being shipped to accommodate the events. back to you. >> sergio, thank you. >>> business is booming around san francisco's china basin as the defending world series champs return to town for their home opener. a sea of orange and black flowed to at&t park where the giants hoisted their new championship banner today. the team returns after making big off season investments in star players like buster posey and matt cane. and fans coming to the ballpark are f

super luxurious inside and super performing on the outside. ultimate no-compromise three-row suv. and how do you like those lcd screens right behind mom or dad's head? you can watch your favorite entertainment. look for it in showrooms later this year. $22,000 is the starting price point. well, if you want the fantasy car and you have a little extra allowance, you might want to try to spend it on this for mom or dad. it's the jaguar. this is the all-new xjr. it's the top of the line for jaguar. 550 horsepower is what it will offer you up. it's also gonna cost you, like i said, a little bit of allowance. the price on this -- in excess of $100,000. and check out this premium luxury from hyundai. yes, this is the all-new equus for 2014. a full refresh. in fact, hyundai says if you want to take one of these for a drive, it's as easy as calling your local hyundai dealer, and they'll bring one to your house. this is the 2014 ford fusion energy plug-in hybrid. it'll go 21 miles on just a battery charge if you plug it in overnight, then 47 miles to th

ishere a place for the new lincoln to win over buyers of luxury cars in china? >> we think so. we've announced that in 2014 we're going to introduce the brand into china. teams already working to prepare for that. and we do think that we've got the products and we're going to have a consumer brand experience and dealership experience that we think is going to set us apart from others. >> ford shares hitting a speed bump today. they were down slightly, the stock is up almost 3% so far this year. >> ford shares, like a truckload of other stocks today ended slightly lower. the major averages did finish the day mixed. orders for long lasting durable goods were softer than expected in march. and investors took a ho hum view of mostly positive earnings reports from before the bell about boeing, eli lilly, and others. the dow was down, dragged by a 6% decline after proct & gamble lowered its outlook for the year. the cfo described the economy as challenging, he confirmed his company's 2013 outlook. nasdaq and the s&p 500 both closed a tiny fraction higher. >>> encouraging housing news

what is luxurious or not luxurious. changing to the time. >> let's talk now about one of the frontiers that you broke down. you're one of the first to do. you went into the streets of paris but not to the streets that we know that are in front of the palace but the streets with a very mixed community. in those days, even more so. and that inspired you to do collections. this was in a way breaking a parisian code, wasn't it? instead of pretending these immigrants were not there, you're actually inspired by their colors, their hair, their clothes, and you turn them into your collection. >> definitely. i was very inspired by different people always. maybe -- with me, i felt a little different. a project at school. for example, not doing football. i was more touched by people that are a little different or could be rejected. they inspire me also because i do not know it was another world. for inspiration, for example, because close very clearly, very early became my attraction -- clothes became nmy attraction, a subsection.

. >> i think luxury -- where does luxury sit among everything else? >> i think luxury is interesting because luxury appeals to a global market. it's not a european phenomenon. and is certainly that's what mulskin is. it's a global brand as well as being based in europe. and the secular growth trends within luxury are very strong. very similar to many of those other brands that you mentioned. and that's the attraction and the continued attraction for investors to participate in these types of deals. >> and i guess the question now turns to the ipo outlook. we've been waiting for more activity. i guess if you look at the numbers, we're still doing better than last year. but what is your take on how the rest of the year bans out? >> i think a lot of issuers have been quite nervous to approach the market. given the last two or three years are challenging markets. so a number of them were looking at the five or six, you know, big deals that were coming in the first quarter to see how they went, how well subscribed they were, where they trading, where they

luxury real estate market is back. no real surprise from a realtor.e will talk about how long this can last. connell: tim tebow was waived by the jets this morning. we will talk about all of this. dagen: he has big size. he will have a future so more. connell: let's take a look at oil. 94.14. we will be right back. ♪ it's monday. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. would absolutely not have taken a zip line in the jungle. i'm really gd that girl stayed at home. vo: expedia helps 30 million travelers a month find what they're looking for. one traveler at a time. exdia. find yours. join us at projectluna.com ♪ dagen: stocks now. lowe's reporting a drop in its profits. nicole: we know it is a winner here today. it is under some significant pressure. the pro

>> well, i think that luxury cars will continue to do well in china.'ve seen anything in recession here u.s. luxury items do well, rich like to strive like to drive nice cars, i would worry about slowdown in china taking edge off lower price cars that means fewer chinese people emerging into middle class are they buy cars. neil: i hear whole china thing, you know i know we should be grateful and we would envy growth any approaching china, that is a narrative, paranoia i think that chinese are lying, i don't think their growth is near that, that is my bigger worry that maybe, this is part of reality? >> i think all economic numbers are lies, that economics itsf iassumptions based on assumptions, who knows what is going on in china. neil: "forbes" saying, a move a foot to give apple boss the boot? scott? that would be amazing but there is a lot of talk. >> i would be shocked. but when stock has gotten smoked, you hear about chatter. steve jobs was great, he did a lot of wonderful things for company. many years ago, he created a lot of great product, but

we do not have that luxury. >> we cannot keep looking our children in the eye knowing that we are goingo give them a diminished future because we are pending their money today. you may bewahy concerned about the future. you will pick up the tab or your grandparents. >> we need a solution. one that will help us on the road to recovery. here are ways we believe he can get there. this affects all of us. we have to put aside our interest and let the special interest outside of the door and come up with a solution. more accountability in terms of information about government spending. what it is spending our taxpayer dollars on. we have to come together. the deficit problem is a problem we created together. it is by working together that we will be able to address the nation's debt. >> you can find this video and .orgrs at student cam >> your calls and comments on "washington journal." then a discussion on negotiations over a rise nuclear program -- iran's nuclear program. this is at 10:00 a.m. eastern. >> the sequester will reduce our grants by about five percent, odch equates to 20 mill --

returning to the luxury brand is the quality and image and aspiration they bring.you have 33,000 workers, are you hiring? >> we are, particularly in emerging companies, but also here in the u.s.. it something we are a growing group and proud of. liz: how 1 the u.s. consumer doing? >> very fine, and even better than last year. liz: well, i'm wearing gucci shoes, but i bought them on discount. i did it to welcome you, certainly. we have the gucci shoes. thank you very much, really appreciate it. >> thank you very much. liz: karing group manager director "k," the big name chain. from gucci to a hundred million dollar apartments, what was new york's real estate department telling us months before cypress collapsed? edward is following the trend for us after the bell. he deals specifically with russian customers, but he saw it all coming at 4 p.m. eastern. closing bell ringing in 28 minutes. does your local economy need a boost? which doesn't; right? who are you going to call? how about the wwe, the travel wrestle mania show pumping some 300 million dollars into each to

not entry level, not active adult, and not luxury.ity firms bought the company back in 2011 and taylor morrison says it intends to use approximately 275 million of the proceeds to buy back shares from tpg. and oak tree. they believe revenue will be up 57% in 2013 with an estimated book valley of 12.50 a share after the ipo and the repurchase of shares from tpg and oak tree. another analyst is concerned. he says that these home builders are driven by lack of supply. that lack of supply is because there are so many investors in the market now, buying up the foreclosures. when the prices get too high, the investors could start to sell and that would be in direct competition to the home builders. we have more online to check out. >> diana, thanks for that. i go to you because diana makes a good point. it's not luxury, it's not entry level, it's not apartments which are hot these days. >> it's interesting. i don't think eye think the housing stock suggests it's much better. this ipo is going to do fine. i have no doubt. i can see bob alrea