robert frank on money, power and spending. boorstin on media and the entertainment industry. that was a great graphics sequence, don't you think? >>> t-mobile is also announcing today it will finally carry the iphone. jon, this seems quite an important piece of news. will we break apart the kr9 structure? >> i wouldn't hold my breath. in context, t-moibl is running a distant third to at&t and verizon. they needed to do something. they're losing subscribers, so they get the iphone. they're still in a way subsidizing it. we'll let you pay for the rest over two years. you still have to pay for the phone. you have no contract for the service fee. people could get the phone for them and take it over to straight talk wireless. sure, they don't have lte, but walmart's plan is cheaper. >> they may not catch up, but the fact that you aren't locked into a two-years contract and none of the other major players are offering that. it seems like a pretty good deal. won't that help them? >> it might, but it might hurt them. part of the reaso

robert frank excludes. thanks, larry.broader and it's helping all sorts of mrns. $65 trillion. that's very close to the all time high before the crisis. all that new relt is it generating more spebsing. ee connie market incries and added 1/2% to gtp on more than 70 billion dollars. housing wealth is the real staff i don't remember. each daughter creates senting 10 of of a percentage. to the total relt effects, which could be wrong. they will as 6.% a.m. dweser noun with willing the freem may tag, to robert frank. roughly 50% of the american households own the stock, 50%. big number. over 60% own them their own fund. stock market rally is a big deal. >> we expect to see an inthus in hold household. it's part of the same argument that we can't band. sop would need to government is work hard the best. senator it is truckling duels. there are gas prices up. there are pay market tights. let me just say that main street has nod enjoyed the mali. >> i don't know there it's short lafd. way it tell you, it has not so gene fub. so

our wealth editor robert frank is here.if your state is on his list. >>> and today's the deadline for del suitors to make a takeover bid. plus, the dell trade. stay with us. [ male announcer ] when you wear dentures you may not know it, but your mouth is under attack. food particles infiltrate and bacteria proliferate. ♪ protect your mouth, with fixodent. the adhesive helps create a food seal defense for a clean mouth and kills bacteria for fresh breath. ♪ fixodent, and forget it. >>> welcome back. no, it did not end in washington. now, states across the country are extending tax increases on the top earners. robert frank now with the low down. robert? >> hey, maria. if you thought the fiscal cliff deal marked the end of tax hikes on the rich, think again. it may just be the beginning. new york governor andrew cuomo is proposing to extend its millionaires tax. the tax was labeled temporary when it passed in 2009, but now, it will be extended a second time, could stay in place until 2017. let's call that the zombie tax. it j

our wealth editor robert frank tells us why. i love this story. >> it's fun.k markets means rising personal fortunes and more millionaires. a lot more millionaires. last year america added 300,000 new millionaires in 2012. there are now almost nine million households in the u.s. that's according to spectrum group. this is just shy of the 2006 all-time record. if we take the recent market performance into account, we are no doubt at an all-time high for millionaire households in america. these are defined as people with investable assets of a million dollars or more. but when you look at the people call them half millionaires, people with $500,000 or more, there are about 14 million of those, down 1.4 million from the 2007 high. what accounts for the big difference? well, it's stocks and your investment portfolio. millionaire households have actually increased their stock holdings during this recession. stocks account for more than 3/4 of their investment portfolios. but for the affluent, the half millionaires, stocks are done as a percentage of the portfolios

in an inefficient way, maybe people will become more recepti to the idea of doing it right. >> robert franksr comments we have talked a lot about this on global warming or climate change or carbon tax specifically 866-55-press. robert, you also write a weekly column on the economy for the "new york times." so i do have to ask you: the walks, the sec ester is here. congress is out of session now. there is no way that they could stop the sequester from happening today. the economy is in recovery t the dow almost at a record high. what will happen to the economy as the something quester continues to kick in? >> this is a setback for sure. people aren't spending enough. consumers are holding back because they are paying down debts. businesses are sitting on mountains of cash because they could be investing but what reason if people have been, people in total aren't spending enough to put people to work who want to work. government can step in. >> that's not going to happen. opponents of stimulus say we tried that. never mind we tried too little of it and its run out now. so basically cutting gov

cnbc's wealth editor robert frank drives it home for us. hi, robert. >> hey, sue. vintage ferraris will be sold this weekend. some could fetch up to $2 million. we will talk about the ferrari bubble and the extraordinary prices people are paying for a more ordinary car. that's coming up next. ♪ [ male announcer ] from the way the bristles move to the way they clean, once you try an oral-b deep sweep power brush, you'll never go back to a regular manual brush. its three cleaning zones with dynamic power bristles reach between teeth with more brush movements to remove up to 100% more plaque than a regular manual brush. and even 76% more plaque than sonicare flexcare in hard to reach areas. oral-b deep sweep 5000 power brush. life opens up when you do. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio sum

robert frank joins us with more. what do you reckon, robert? >> hey, mandy. that's the question.vate divorce become a public shareholder issue after that initial report. continental resources issued a statement saying, quote, harold hamm has announced that a petition for divorce is pending in the district court of oklahoma county. this is a private matter and has not and is not anticipated to have any impact or effect on the company's business or operations. now, notice the careful wording. they are saying no impact on business and operations but not shares. we have seen recently how big divorces can result in big share soles or changes in the board. here's why a couple's wealth, especially when it comes from public shares, those shares could be split when they divorce and when the wife or spouse gets those shares they are typically sold. take the care of wynn resorts. as part of the egrain elaine wynn got 10% of the shares or 10% of the company. the deal said she couldn't vote or share her shares without steve's permission but she south last year to void that agreement and she s

thanks so much, robert frank. we will keep watching that one.development there for john paulson. so can the rally continue for stock prices? find out how to prepare your investments for tomorrow. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ and no matter where you are in life, ask your financial professional how lincoln financial can help you take charge of your future. ♪ can help you take charge of your future. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. but i am your rmarket data. i know what you're looking for. i'm not chained to your desk anymore. i'm faster and smarter n

another reason offshoring may become more risky for the world's wealthy. >> thank you so much, robert franki'll talk exclusively with john thain next. >>> the potential for europe crisis to spread here. >>> later, march madness is here. should you keep your portfolio on the bench during the tournament? stay with us. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ♪ here we are, me and you ♪ on the road ♪ and we know that it goes on and on ♪ [ female announcer ] you're the boss of your life. in charge of making memories and keeping promises. ask your financial professional how lincoln financial can help you take charge of your future. ♪ ♪ oh, oh, all the way ♪ oh, oh >>> >>> welcome back. my next

robert frank is here with the best bet. robert?ollecting is now a multibillion dollar business, but the most popular collectibles are not necessarily the best investments. the nine main categories racked up gains over the past ten years, cars were the top performers, rising 23% over the year and 395% over the past ten years. close behind was a much less sexy collectible, coins. old coins outshone cars for the year, up 248% over ten years. stamps were also big. art is the most widely held collectible, gets the most attention, but far more enjoyable to look ought than sell. you can real more about other collectibles and how did how they did at cbs.com. >>> stick around for this story. the market for fraudulent art is huge. fakes, frauds and forgeries, in new york, arguably the center of the article world is at the center of a growing crackdown. a florida pastor, senior correspondent scott cohn has the story. and compared to other investments these days, it's supposed to hold its value over time. which might explain why some people wa

. >> robert frank is curiously silent. >> you know, the only thing worse than bacon mouthwash is fakesticking to mint. that's all i can say. >> jane, there's only one person who could have got than story and done it any kind of justice. you know, you know that? >> thank you, yes, i'm on it. a friend suggested he'd like some beer-flavored mouthwash. i said, i already have it. it's called beer. >> all right. have a great weekend, jane. we'll see you soon. >> you too. >>> let's take a quick look at the market here. the s&p 500 right now is a couple points ahead of its all-time closing high. the number you want to watch as we head into the last hour of trade here is 1565. it's been a heck of a quarter for the s&p, up 10%. would you believe it, though, that health care and some of the more traditionally defensive sectors have been the ones that have led this rally. all of this on the table. you've got cyprus in front of us, market doesn't seem to care. earnings, right in front of us, market doesn't seem to care. right now, focused on the all-time closing high. the intra-day high is like 15

robert frank here with the fallout. >> cyprus is not a tax haven for russia. for russian billionaires and millionaires. russia investment is five times the total economic output for pi cyprus and they account for about 1/3 of the total. one is the fertilizer magnate who is the biggest holder. he bought donald trump's $100 million estate in palm beach and his daughtered because sandy weill's $80 million condo in new york. why did they buy it when they knew the banks in trouble? there are fewer other choices. governments around the world are cracking down on tax evasions. switzerland, monaco and singapore are complying with the tax rules. cyprus may be the option for the russian rich. >>> thank you. despite billions in russian cash, the country's government has long denied it's a russian dirty laundry haven. ken ruock is a convicted money launderer and author of the book "the money launderer." >> remember, while cyprus is part of the eu, geographically it's right next door to the russian markets. it's there but not there. it's their entry into the european union

. >> robert frank reporting. sue?ok, "lean in" showcases her views on the women and the workplace. she appeared on "60 minutes" last night and began with a statement. >> a very blunt truth is that women still run the world. >> what about the women's revolution? >> i think we're stalled. and i think we need to acknowledge that we're stalled so that we can change it. >> are you trying to reignite the revolution? >> i think so. >> it is power run down time. they are set and ready. ladies, we're going to jump off with the statement last night that men still run the world do you think there is still a glass ceiling in place for women in the workplace? jane? >> you know, good for her. good for the women who fought the good fight. i just cannot get worked up about this in business. yes, in some cases there is a glass ceiling. i'm focusing on jane. in my work, most of my bosses have been men. sure maybe i have been held back sometimes because i'm female, or maybe because there was someone better. i cannot have a cow about thi

billionaires, the super-rich making big money moves to protect their wealth and our wrelt editor robert frank on what they're doing. >> lots of millionaires indeed, tyler, now 12.7 millionaires in china, they hold more than 5 trillion, about 40% of the country's total wealth but increasingly that wealth is moving offshore, and holding more than 3 billion, that's up more than 20% from 2010. that number is expected to grow even faster in the coming years. it turns out the richer you are in china, the more likely you are to have offshore ktsds. 1 in 4 millionaires in china now has offshore wealth. china, of course, has tried to stop money going from the seas. some of it is coming here, hong kong and the u.s. are far and away the largest destinations getting nearly half of the offshore wealth followed by canada and then swisser listen. ations are big buyers on the west coast in new york, and one of the chinese richest women and her company making a bid for part of the gm building, so the wealth drain may be america's gain. >> robert, thank you very much. >>> president obama is meeting with senate

wealth editor robert frank joining us and he lz been dig into this, robert. >> yes, i have.bout everybody, including high earner s and retirees and according to the nonpartisan tax center, it would give the average american tax cut of $3,300 which is a 5% increase in after-tax income, and those making between $40,000 and $50,000 would get a tax cut of $670, and about 1.6% tax increase after tax income, and the big winners are the big earners of those making $1 million and more would see a tax cut of $408,000 which is a 19% more in after-tax income. and now ryan's plan is to be revenue neutral and we don't know what taxes go up to make up for the taxes he is cutting like the amt and the obama care, and the tax rate cut, and $12 trillion would be lost from the proposal and we don't know what offsets would be, but the house opposes any increase in capital gains and dividends, and of course, very important for retirees and they oppose dropping charitable e deductions so it is unclear where the money would come from and for now the top earners and the retirees the ryan plan is at

robert frank is here with more. the big question is, is your money safe?at is the big question. cyprus may seem ro remoat but the american wealthy are looking at the offshore havens. cyprus was a classic tax payment with light regulation, low taxes and almost complete privacy. russians invested $119 billion in cyprus in 2011 and accounted for more than a third of the total deposits but the new department tax, let's call it what it is, a wealth tax, has americans wondering about other tax havens. also about the rewards of offshoring. wealthy americans have between 40 and $70 billion a year in offshore wealth. now it's according to congress. favorite tax havens are in the caribbean, mostly cayman islands, ba ma'am hamm whats, british ver gin islands. globally, channel islands, singapore, switzerland. they told me this morning that wealthy clients are now demanding more information about their overseas accounts. asking about the banks. they're asking about the countries themselves and the fiscal and capital conditions of these countries now, the caribbean cou

joining us robert frank and john karney. how are you, gentlemen?ig, handsome, strong, fellas. my god. one day after icahn and blackstone made separate bids for dell, it appears the billionaire is willing to pair up to seize control of the pc maker. this is an interesting drama that's unfolding here. >> here are two companies within recent memories were the ultimate growth stocks, inventors of a category and now in an existential fight for survival. >> this is why i think you want to keep michael dell in there and why eventually blackstone will want to talk to them. >>> it's just amazing from to the ultimate value play. >> welcome to the world of tech. fortunes are made so fast. >> retail therapy, billionaire style, steve cohen on a $155 million shopping spree for this picasso. apparently he's not letting that insider trading probe, for which he paid a very hefty fee, right? >> i figure if he's going to pay $600 million in an insider trading. >> go buy something you like. we'll talk more about it after the break. ♪ [ cows moo ] [ sizzling ] more rai

robert frank covers big money, big power, and yes, big spending too.lso today, henry blodget, he is with business insider, but he is moonlighting here on "power lunch" today. welcome to all of you. you is a you it in the open, theme of the hour, one tough week. there you see them on the wall. we're talking ackman, mason, johnson and washington, just for starters. we start with groupon's founder and ceo, andrew mason. fired. no question about it. the stock's been a stinker. down 75% in a year. but up, 8% today now that he is out. henry, i'll go to you first. he has left the building. >> with a graceful letter, took full responsibility. said hey, i'm just resigning for family reasons. no, just kidding, i was fired. he should have been fired. it was time. but i think people are very too quick to jump on him and say he did a terrible job. groupon is still an amazing success story. although they have a huge challenge in front of them. >> this reminds me of carol bart saying she was fired from yahoo!. >> an e-mail. >> opening up in an uncanny way. mason shot

robert frank is here.i was saying in the tease up to the show, it is a license to draw. >> it is a bit like the stock market. going up in price despite downers. the ferrari index, yes, there is one, for the most sought after ferraris. most collectibles are worth $2.6 million. that's per car. more than a half dozen ferraris will go up for sale in florida. this berlinetta could go from $1 million. a gtb could go for $2 million. a gto last year went for $35 million. this bubble is spreading to other cars, especially porches. that's where the next big bubble could be forming. especially soaring on the 1970s racers and 911. 50th anniversary this year of launch of the 911. they have come a long way since then. this 1973, 911 could fetch more than a half million just this weekend. 1972 l & m model, 5.5 million, yes, for a porche. you can read more about the ferrari and porche bubble on cnbc. >> we are talking silly money here. who has that kind of money? who is buying? >> a billionaire. offered this year 50 milli

robert frank here with the fallout on this. i guess it's easier for the cyprus officials to say let me take the money out rather than lay the whole cost of this bailout on cyprus' taxpayers. >> but the way they did it is surprising. cyprus is not just a tax haven for russia, it is the tax haven for russian millionaires and billionaires. russia has invested $119 billion, that's with a "brks" in cyprus in 2011 alone. that's by far the largest recipient of russian investments in the world. equal amount of investment came back to russia from cyprus. funny how that works. russian investment is five times the total economic output for cyprus. russians account for $20 billion of total bank deposits or, tyler, as you mentioned, more than a third among the top russians in cyprus is the fert cider magnet now the biggest shareholder in the bank of cyprus. he has a lot of money in u.s. real estate as well. he brought donald trump's mansion and his daughter bout an apartment in sandy well. and alexander bought avraz steel. the mystery to me

by the way, it was exciting to hear robert frank say, it is just money, what should that matter pch.hough that is tongue in cheek. well never hear that again. circle the wallons. politics are on the board. they keep them there way too long. we've seen it with chesapeake energy with mcclendon just stepping down. speculating how much time is left for ron johnson. as anthony mason we talked about. jarold, a private company. toys "r" us, the guy is wilting on the vine for 6 1/2 years. and you go down the line. dick at lehman floundering. fanny mae, radio shack, so many problems problems. rim, bp, tony hayward. so much public disclosure and the board doesn't act. >> do you think that sometimes this board room dilemma is due to the fact they don't want to be, basically with, accused of having chose someone bad. just trying to defend their own flawed selection of the ceo? >> that is often what is going on there. the politics of who on that board, bill ackman, somebody who has a gene jius aura, that theyn cover to help protect them. the hold hp board that kept car carly fs farina longer than

our wealth editor, robert frank, on cnbc.com, noting that the fed is taking a keen interest now in america's consider that gap in future policy decisions. >> robert joins us now with more on this developing story, along with financial economist, lindsay piegsa. robert, i hear from my mother-in-law all the time. she's got her mother in the bank and she's not making any money on her money and she feels poorer as a result of that. is that a part of this occasion? >> there are a lot of people who feel her concern. and this is an interesting report from credit suisse, who read the tea leaves and noticed that three members of the federal reserve board have all made speeches recently, in which they talked about inequality or at least dislocations in the credit -- in the labor market. now, credit suisse says, quote, the issue of growing income and wealth disparity in the u.s. is gaining stature among fed officials and may become the next most important macro economic variable for monetary policy. now, the issue is, could and should the fed be considering inequality in its policy decisions? now the b

cnbc world editor robert frank tells us how they did. bubble or no bubble? >> if there was a bubble there's no sign it's going to pop any time soon. at least over the weekend. at the amelia island concord this weekend the two auction companies sold $53 million worth of vintage cars. well below last year's total of 59 million tl$59 million. there were also fewer cars. the top seller was not a ferrari, it was a 1935 duesenberg. the runner up was a bentley. a 1928 le mans tourer. all of the ferraris sold for their estimates including the number three car, 1966275 gtb. 2.3 milli$2.3 million. one of the porsche's did not sell at the minimum price. and a tucker. the car had added film history. george lucas was once a previous owner. apparently the force was not with the current seller. you can read the full list of top selling cars on cnbc.com. >> why do you think? were they too expensive? >> the top cars selling now are the european racers. the porsche was not street legal. if you can't drive it around it's just not worth as much. >> i think the next hot brand of

meantime, coming up, robert frank joins us with a very special report.s on his way down here to the nasdaq. >> hey, melissa. well, more than $12 billion leaves russia every year. a lot of it was going to cyprus. now it's going to three other tiny countries. we'll tell you which ones coming up next. one of them featured in the greatest movie of all time. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >>> welcome back to "fast money," we are live at the nasdaq market site in new york city's time square. will cyprus' loss be another country's gain? diving deeper into the fate of russian wealth forcing to look outside this former tax haven. i don't know if other tax havens are lining up for this business now. >> they certainly are. there are a lot of planes carrying bankers into cyprus right now, not just fo

. >> and joining us, dolly lens, and our own welt editor, robert frank, who follows the wheeling andthe rich, who is also here. dolly, we were joking earlier. we said new york real estate is back. it never left, did it? >> no, it never really left. absorption was off for a bit. pricing, though, never left. pricing held really high and continues to hold and doing even better. it's amazing. >> because demand is that strong or supply is that constrained right now? >> it's a mix, but it's primarily demand. because we have the unique position of having incredible demand from all over the world. we're not a local market. so, and that tells our story. >> and that leads us to robert. because, robert, this is one of your many beats, the wealth beat. and how much of the demand is domestic and how much, do you think, in terms of the big sales, has been from foreign buyers? >> yeah, i mean, my understanding is that foreign buyers have become a big presence in new york, particularly at the very high end with a lot of russians. but dolly, i wonder, the big discussion in manhattan is about inventor

>> if a lot came on the market, as you point out, joshua, krmgs on the stop and robert frank, great toways. time for the "power" rundown. part one, simon, jane wells joining the discussion. first up, american airlines apparently testing a new boarding process to let passengers without carry-on luggage board first. let's see what you said on yahoo!'s finance question. 67% said yes, anything to get on and off the plane faster. simon, jane, is early boarding incentive enough for you to ditch your carry-on? >> look, i fly a lot. i think this is a great idea because other people will do it and that leaves more room for me and my bags, because until american approves its lost baggage policy, i'll going to be the horrible person who comes on with my one-ton suitcase and my small carry-on to make sure my luggage arrives. >> if you were thinking of carrying on or checking, now because you want to get on and off quicker, you're going to check and they are going to charge you for it. >> that's one way of looking at it. i think it's simple math. want to get as many people on the plane as fast as y

cnbc's robert frank is here with that, and i'm sure you've been invited to a few of them as well. >> super rich have driven up prices around the world, nowhere so much more so than monaco. real estate in monaco, the playground in the mediterranean, sells for an average $6,000 per square foot, the highest in the world according-to-knight frank, the london realtors. you get 2,300 square foot apartment in monaco will run you around $28 million or $12,000 per square foot. plus, you get a great view for looking down on your yacht in the harbor. ranking second was hong kong and then london at around $4,000 per square foot. here's a sweet little old man shown in london's may already favor neighborhood, the price around $26 million, but price isn't the only measure of popularity. the super rich were asked to rank the world cities by economic power and influence, and other measures, new york took the top spot followed by london. new york is relatively cheap at only $2,000 per square foot. you can see the full rankings and numbers on cnbc.com inside wealth. >> no surprises there, right? no rea

robert frank has more on that. hey, robert. >> hey, carl. opportunity for countries looking for all that russian money. ochi of course, cyprus was the favorite for decadesen between 10 and $20 billion deposits were in cyprus mostly from russia. the question is where will it go now? according to one which tracks russian flows there are flee countries currently in the lead for all that money. latvia is secretive. privacy is well protected there. it's easy to protect shale companies. another contender in second place, malta, also very secretive, very light regulation with a weak central bank. and a history of dealing with east europeans. israel is apparently big destination along with more traditional tax havens like switzerland and singapore but it's a smaller more secretive havens that are expected to be the big winners here. more than $12 billion leaves russia each year. latvia or malta's gain, back to you. >> you think about everything that cyprus represented to russians. you are removing, as someone said, robert, the bulk of their gdp stre

robert frank got behind the wheel in today's "million dollar minute." rolls with david archibald president of rolls-royce of north america. >> if you're going to spend more than half a million dollars on a car, you want it to be yours. >> it's got to be an expression of yourself. >> these mod els are over $500,000 each. the phantom model, let's take it for a spin. >> it is so quiet. we talk about it pulling away smoothly. >> when you're driving these 14 ton mega cars on the road, you'll get 14 miles to the gallon. >> a cooling box for your champagne, the star light roof and walnut veneer. >> and the man with the best job in the world, robert frank, joins us from headquarters. i remember driving one when we were doing bmw story a while ago. i was nervous. you're nervous because you know that denting them is going to be a very big deal. >> a half million dollar deal in my case. you probably knew, driving them, they are two and a half tons, these cars, but they feel so light and so fast, 450 horsepower. they're just engineered so they don't feel that weigh

thanks a lot, robert frank.flying up almost 3%. >> wow. >> and david we'll see you later on. >> good weekend to you, carl. here's what you missed if you're just joining us. >> welcome to hour three of "squawk on the street." here's what's happening so far. >> as long as the economic data keeps surprising on the upside, they're going to take care of themselves and that's keeping a nice bid under this market. >> stocks were still climbing the so-called wall of worry. they're not anymore. that worry is gone. >> up, 236,000. >> told you. >> the unemployment rate, 7.7%. >> bulls win and bears whine. and if you are a bear here this is annoying. >> this is a truly impressive number. joe kernen, when he went ah, now we know why we've been up for so many days. i'm not going to disagree with that. this is one of the worst going to one of the best. i think that's really -- >> something that had fueled the stock's rise in the past had always been the idea of consolidation, given its cut. and i don't see that as a real possi

our robert frank explains in today's "million dollar minute". >> reporter: imagine coming home everye of the most luxurious homes in one of the wealthiest zip codes in america. welcome to alpine, new jersey, and a $49 million estate. >> the stone mansion was brilliantly designed. it truly achieves a new standard of excellence. >> reporter: tucked behind guarded gates is the 42-room stone mansion. 11 bedrooms, 19 bathrooms, an indoor basketball court and four kitchens. with a $75,000 stove and drawers that become refrigerators. trim work painted in 24 karat gold and a pair of chandeliers worth more than $250,000. >> over $5 million in landscape. >> reporter: it was also the site of a mega party thrown by sean parker. >> robert frank joins us with more now. incredible video. i can't imagine what it's like being in it. do we know who the seller is? >> reporter: can't really say who the seller is. but this home has been on the market for a few years. they took off $19 million. it's kind of the downton abbey of alpine. >> three years to build this thing? >> reporter: yeah, all the panelli

robert frank has a look at the monster mansions. >> well, let's just face it.now it's finally getting a lift. sales volumes up more than 50% in sun valley and 30% in vail. average prices are up at almost all of the big resorts. brokers are saying rising stocks are the biggest drivers with improving economy. even the big trophy properties are back on the market. especially in aspen. far and away the most expensive ski community in the country. this mountain top mansion just near aspen has more than 200 acres, a dining room fit for royalty, an indoor peel. always kept at a toasty 85 degrees and a hallway modeled after the hall of mirrors at versailles. just look at those views. price tag, $31.5 million. if you prefer ski in and ski out of your mansion, well, there's this. a 20,000 square-foot modern wonder that has its own indoor waterfall and lap pool. bowling alley that becomes a shooting range. the house is also eco friendly. there's not a single light switch in the entire house, and it has a spinning porsche platter to fit more into your 1,500 square foot gar

joining us here on set, our resident wealth editor, robert frank. >>> the stock market is the largestt added a lot of them last year. america added 300,000 new millionaires last year. it's now almost 9 million millionaire households in the u.s., just shy of the 2006 record. we define millionaires as people are investable assets of $1 million or more not including their primary residence. we are seeing a wealth gap emerge even between the wealthy. there are now about 14 million households worth a half million dollars or more. that's actually down $1.4 million from the 2007 high. we're seeing millionaires rise. let's call them half-millionaires decrease. what accounts for this difference? well, it's stocks and investment strategy. over the past four years, millionaire households have actually increased their stock holdings over the past few years. stocks account for three-quarters of their investment portfolio. for the affluent it is down one-third from more than 50% in 2005. the wealthy have increased stocks, the affluent have lowered them. in short the rising tide of these markets are

robert frank takes a deeper look at mason's wealth. >> good morning. his retirement package. company filings say he will only get his salary for six months after he leaves. that salary was $756.72 for an entire year. so his severance package is around $376. i guess we call that a lead rather than a golden parachute. it's been a rapid fall in wealth for mason who just over a year ago was a papered billionaire. let's look at the numbers. before groupon's ipo, he sold around $28 million in stock. so he'll be fine, or at least he'll still be a millionaire but not like he was before. just after the ipo in november of 2011, his shares were worth more than $1.3 billion. mason was celebrated as the tech world's latest billionaire. then came the long slide. today his shares are worth around only $200 million. an 85% drop in wealth, losing more than $1 billion. and that remaining $200 million only on paper so it could rise or fall, depending on what happens with the company next. the big lesson here, take money off the table as fast as you can, especially when y

. >> frank keating -- >> robert francis, of course. >> chris of course is pointing out my father wasobert francis. chris makes the connections that nobody else even tries to go there. >> frank keating, we can also in a way, without being disrespectful at all, sort of look at the pope as politician in a way and the "national journal" this week had some advice, focus on messaging administration, take advantage of larger-than-life personality, use social media as he has, but use it wisely. no its limitations, but revamp the p.r. strategy. there are expecting of all of that that he has got to bring to bear to lead this church. >> happy st. pat's. >> thank you very much. i wore my green tie. >> i'm not irish. >> i agree with everybody here how exciting it is to have, after 1,200 years, somebody outside of europe. ow exciting to have a jesuit. i've got to say to have a jesuit embracing francis of assisi, take his name, and as a francis, i'm thrilled about that. but the reality is, and i think everyone has made this point. you have an individual who lives a life of humility and will insist

. >> robert, i agree with my friend frank we need growth. i would love to see pigs fly. if you can spend and tax your way into growth we would have dope that already. >> exactly. >> the trouble is that idea doesn't work. >> it never has. let me just back up and say finally we're having a state of the uniontive conversation about the budget. the democrats had control of the senate for the past four years and haven't voted for it. why? it was a political document. the question becomes is whether or not you can have smart growth and also less government regulation and also less taxes. and the question then becomes can the senate be a voice of reason to be able to have that type of a conversation because i'm not sure the house can, with the right budget plan because a lot of folks are saying that's reliable. the real question can we have a state of the uniontive discussion about entitlement reform. medicare, medicaid and social security needs to be reformed. >> but mark, i won't give him credit for this closing down control towers. this gang here, this democratic gang, sorry

that's all for now, i'll see you back tomorrow at noon eastern when i'm joined by frank brunei, david corn and thomas robertsx tonight for a little "now" at night. this evening she'll be joined by cecile richards and david sarota, you can follow the show at "now." and "andrea mitchell reports" is next. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid card. spends like cash. feels like membership. these are sandra's "homemade" yummy, scrumptious bars. hmm? i just wanted you to eat more fiber. chewy, oatie, gooeyness... and fraudulence. i'm in deep, babe. you certainly are. [ male announcer ] fiber one. [ man ] excuse me miss. [ gasps ] this fiber one 90 calorie brownie has all the deliciousness you desire. the brownie of your dreams is now deliciously real.

frank jackson, on the opening night. and i was also taken behind the scenes by robert who showed me a lot of the wonderful things that they were doing. and through the kitchen and to the dressing rooms and so these are people that are already trying to make this pass as perfect as it can be, but time also i know that they have booked acts for as you said, more than a year and a half, previously, so, it is very difficult for them at this point to just stop entertaining it and i think that the compromise of having acoustic entertainment while they are working on what i know will be a very fine sound-proof room and it should be granted to allow them to continue to present san francisco with the quality of artists that they have been doing so in the past. so, i hope that that question will be granted. thank you. >> thank you. >> i see the end of the line coming up. >> maybe not. >> hi, thank you, for hearing me today. i'm terry rosenstock and i work with senior groups who are out northern california senior centers plus 55 community and i provide matinee entertainment opportunity or events for them and rorry and robert have be

frank somerville is off tonight. right now san jose police are still actively looking for a man who fatally stabbed a woman this afternoon. robert handa is on the scene. >> reporter: the search continues for this man that stabbed a woman here just a few hours ago. this is the crime scene where you can see investigators are still removing evidence. now the san jose police department has spread out throughout the neighborhood going door to door, yard to yard, around the residential heading street area. now we're not showing you specific locations so we don't compromise the search. police are asking residents to be on the look out for a dark haired man about 5'8" believed to be a philipino man on the run after what police call a brutal homicide. an ambulance rushed the stabbing victim away just before 3:00 this afternoon but police say she died before she could be treated at the hospital. witnesses say they watched as she apparently argued with a man in the parking lot next to the togo east restaurant. they were horrified as the man suddenly began attacking her with a knife. >> the lady was on the floor and he was just stabbing her

robert was the incident commander that day. >> people followed their training and acted quickly and initiated care that really saved frank's life. >> reporter: ryan put on his jacket for the first time since his heart attack. some of the dust from that day still on it. >> not all family members get along. but when things like this happen, i think everybody comes together. >> it is amazing. for me, it's an incident that hasn't ended. >> reporter: cheryl heard, nbc bay area news. >>> san jose firefighter investigators say the fire that destroyed a home in the east foothills suspicious. a fire started at a home just before 9:00 last night. when crews arrived, they say the home was fully engulfed in flames. one firefighter was hurt but is expected to be okay. the cause is under investigation. officials say it appears no one was living in the home at the time. >>> a fire in the east bay nearly killed at least ten english bulldogs. fire crews in concord responded to reports of a fire at a home on hillsborough drive last night. when they entered the home, they found at least ten bull dogs locked in individual cages. fire officials say