robert frank is going to be here with that. >>> first, the new ceo of lululemon. let's check in with michelle and bill. >> it's like "power lunch" days. stocks making a nice comeback this week, but we will hear from somebody who says there are three things investors should fear right now. >>> also, netflix shares, they are down more than 20% since the beginning of march. are they cheap? we'll have a stock brawl about it. >>> yahoo! giving its chief operating officer $15 million for 15 months of work. it just didn't work out. here's a nice severance payer. we'll hear from somebody who says ceo marissa mayer should pay for this expensive mistake. >> all that and more at the top of the hour. >> see you then. tdd# 1-888-628-2419 can take you in many directions. tdd# 1-888-628-2419 you read this. watch that. tdd# 1-888-628-2419 you look for what's next. tdd# 1-888-628-2419 at schwab, we can help turn inspiration into action tdd# 1-888-628-2419 boost your trading iq with the help of tdd# 1-888-628-2419 our live online workshops tdd# 1-888-628-2419 like identifying marke

cnbc's wealth expert robert frank is here with that story this morning.rage price of a manhattan apartment just hit an all-time record. it cost 1.7 million, $1300 per square foot, up 13% from the first quarter and 31% for the year. a lot of this is driven by the new condo development. the average price is up 35% year-over-year to 2.4 million. downtown, sorry, andrew, downtown is the place to be. >> my stuff's not going up nearly as much. >> walker tower, one madison. 3,000 per square foot. the number one sale in the quarter was a penthouse at walker tower, 51 million. second place was that 43 million at one madison for new york's most eligible bachelor, rupert murdoch. downtown jumped 64%. the risk that inventory is rising fast. inventory jumping 20%. new development jumping 55%. there's a two-year supply of apartments priced at $10 million or more. a lot of the risks here are also that the russians are pulling back right now, given the sanctions and the chinese growth slowing there. the big question is with all this new supply, these penthouses, are ther

to robert frank with more on the specific sanctions. >> in terms of the companies there could be issues here, but in terms of putin's money, this was a slight tightening of the noose. there were no new billionaires targeted with today's sanctions. all seven people slapped with travel bans are political leaders close to putin. there are, hour two prominent being people. igor sechin, but rosenft was not sanctioned. the company will continue to have banks tim chengo said he sold that stake before the last round of sanctions, but the white house was suggesting that others would be mentioned today, but they were not in fact on today's list. perhaps maybe they didn't have proof linking them, or they may be saving them for a later round, but for nour, most of them are breathing a side of relief today. >>> we'll see what the european reaction is. >> a lot more affected, absolutely. >>> ty, up to you. >>> sue, terrible tornadoes ripping through the south this weekend. storm chasers, people just caught in the path of the twisters caught the tornadoes on tape. look at that. the tornadoes were repo

"fast money" contributor jon najarian in the house along with our own robert franks and "fast money", everybody. we have to take a second and pause, dr. j., and figure out just what happened. did we learn something from the sharper balance off the lows? sglerlier i was talking about it being a don draper market from "mad men," just as it ended, not going to be a spoil, but as the music went out "hanging on" was the song, and hanging on, that's what the market did last week. fact we were able to hang on again today, and we've got loan servicers just screaming to the upside here. drillers, offshore drillers doing exceedingly well. there's a number of sectors, you mentioned biotech already, and a nice v-shaped bottom that that put in. it looked like it gave up the ghost and it looked like it was heading south in a big hurry, turned it around and the nasdaq got back over 4000 as well. those were all big positives. >> we just put in the lows here for a while, what do you think? >> i think we'll probably head lower than where we were, but i do think there's a conversion going on in the mar

we also have susan, a real estate watcher at the university of pennsylvania and robert frank is here to tell us about one zip code really in demand right now. on the mortgage numbers? >> like you said, not since the year 2000 have banks been doing so little morning lending. you can blame a lot of it in the plunge in refinancing due to the jump last year. refi applications are down 67%. to buy a house, those mortgage applications are also down, 17% from a year ago. i spoke to paul miller who's been revising his numbers down every month. he was at $1.5 trillion. now he's down to 1.1 trillion. compare that to 2013. besides those higher rates, what's the problem? credit standards. which usually come down a little bit. not easing at all. only about 30% of 2013 loans went to borrowers with a fico credit score below 720. they also note that nearly half of all transactions are in cash. banks are not willing to ease up despite what you may have heard about wells fargo. that is a very, very small subset. miller also says other banks have told them no way are they going to go below seven fico.

robert frank will explain in today's " million-dollar minute." robert?bably don't want it all marked up. unless it's been marked up by the world's best basketball players. >> the car is signed by all 50 hall of famers who were in attendance at the induction ceremony of michael jordan, david robinson, and john stockton. it is designed specifically to be the most expensive memorabilia item ever produced. >> typically, when someone writes all over your car, it goes down in value, but this supercar is now worth seven figures thanks to those hancocks. >> the appraisal on the car is $1.25 million. >> meet jeff. >> when i bought the car, i paid approximately $200,000. >> and now, with all that ink, this astin martin's value has gone up a whopping 525%. this car-collecting hobby could turn into a big payday. >> pay a lot of money for picassos and stand and look at it on the wall, and that's the beautiful thing about the cars here. that's my artwork. >> yeah, i'll say, robert frank now joins us from cnbc hq. how did you find this guy, robert? >> yeah, it would be

>> the point robert frank was just making. >> i guess i wonder.in moynihan's chair right now or is it structurally these are too big? are you implying that somebody else could do a better job? since the crisis we're relying on the regulators, and i think that's a middle ground and that's to better hold the board of directors more accountable. the chairman, what is he doing, what did he know and when did he know it? after seeing several rooms over the course of several decades, at some point you say what are the people overseeing the ceos doing to reassure investors? >> quick question for you. you know, bank of america right now is negotiating with the justice department and they said we want to fine you $20 billion and they are going back to the drawing board. does this issue light that on file? does this make the regulators go back and say we maybe should up the ante because of what's happening? >> i don't know how as an analyst that's covered the industry for 25 years you're supposed to model in our earnings skimts these legal charges. they are

robert frank had amazing stats this morning. >> well, i'm audited every -- >> you told us this before surprised to see there weren't more audited. >> high-class problem. go where the money is. >> like my great, great grand uncle said, if i'm unhappy it's my own fault. >> that's while he was killing millions of people. >> not nearly that -- >> thank you. >> you do not do that. >> i think when i see those numbers i say that makes sense. >> yeah. >> why would you go after people who don't have a lot of money. >> yeah. >> i'm surprised they don't audit everybody who makes a lot of money. >> we worked our way through some of the earnings today. coke and j&j. you mentioned the upgrade of citi. you mentioned morgan stanley and the b of a upgrade. downgrade for ibm out of citi. >> let's talk about that. i thought they were saying all the good is reflected. my travel trust owns ibm. after a series of discussions with stephanie link, my co -- saying enough is enough. this company is going to have a better 2015 than '14. warren buffet has endorsed it. take a look at what they can do. 60% softwar

robert frank joins us with the story.story. >> this is the latest weapon in the lux injury travel wars. the first four season private jet, a converted 759 that will hold just 52 people instead of the unfortunate 200 or more. it has the four season logo, and service on the inside. now, the plane will carry passengers on four season private jet tours, tours of exotic locales around the world where guests spend weeks eating the best food staying at top resorts, having expert guides, and wildlife, and private jet tours have become one of the fastest-growing segments, companies like abercrombie and kent, national geographic and others are selling thinks things out. now, right now they all use charter planes, so toronto-based four seasons hopes to gainage edge in the business by offering better experiences with its own plane. >> we have or dedicated consequence years of age. the meals have been sourced by four seasons chefs. all of the staff including the aviation staff have gone through four seasons university, so that they un

robert frank, what bubble might we be talking about? >> the famous short seller, jim, art collector, says the art market is in a speculative bubble. the best way to hedge this, short the stock of sotheby's. take a line what he said on "squawk box" this morning. >> looking to hedge it right now, though. the contemporary market is gone -- >> what do you short? sell these? >> easiest way to hedge a portfolio. >> art is not in a bubble. the rise will continue. sotheby's doesn't just sell art. the share price rises during speculative bubbles. the chart, see the dotcom bubble, and now the central bank bubble. rising in all occasions. what makes this boom different is that these huge prices are often for living artists. these are still artists producing work. jeff coonce, selling that "balloon dog" record for a living artist. and garhardt restrictor, german painter frequently breaking the $20 million, a piece that sold in the fall. a big test of that market in the spring. cindy sherman photo about to sell at sotheby's for $2 million to $3 mill

robert frank with the state of the housing market. "squawk box" will be right back. .oise today is friday today, we greet you. treat you. care for you. today, you can come to cleveland clinic for anything, everything or just to get that "thing" checked out. big, small, and yes, the best heart care in the nation. it's here everyday, for everyone. that's the power the power, that's the power of today. cleveland clinic. call today, for an appointment today. take this simple test. press your tongue against it, like this. it moves! do you feel it? it can happen with every denture. these movements may irritate your gums. but you don't have to bear with it. you can try fixodent plus gum care. thanks to its formula, your gums become one with your denture. this helps stop movement and helps prevent gum irritation so you can keep enjoying life. [ apple crunches ] fixodent. and forget it. ♪ i ♪ and i got the tools ira ♪ to do it my way ♪ i got a lock on equities ♪ that's why i'm type e ♪ ♪ that's why i'm tyyyyype eeeee, ♪ ♪ i can do it all from my mobile phone ♪ ♪ that's why i'm

robert frank here has been looking into the average net worth of congressmen. but this is a wealthy group. what did you find? >> they're not doing so badly actually. millionaires now have the majority in congress. the 268 of the 534 msnbc are actual -- members of congress are millionaires. congress is in session only 113 days a year. they get a salary of over $174,000 plus benefits. maybe they're looking at china. china has more than 80 billionaires in their parliament. maybe they're looking at china saying we're underpaid. i feel for them. >> i'm sure you do. does anyone else here feel for them. >> it's not only ridiculous but it's offense from a congress with a single digit approval rating. not only do they have these six-figure salaries but they also have pensions. >> maybe if we got better pay we'd get better congressmen. >> i don't think that's the case. this is supposed to be public service and these people are set up for life with no fiduciary responsibility. >> you know, without defending the congress and knowing the context, robert, the point being mig

cnbc's robert frank has more on this new high flying amenity. >> reporter: it may be the ultimate roomt the four seasons. it has a handcrafted bed, gourmet room service, great entertainment system and a view from a mile high. four seasons today launching the first four seasons private jet. it's a convert ed 737. it will give tours of exotic locales, where guests eat the finest food and stay at the best resorts. these tours have become huge business. one of the top growing segments of the luxury travel business. companies like abercrombie and kent and national geographic and others are selling out these tours. they use charter planes, so four seasons hopes to gain an edge and offer better experiences with its own plane. meals on four seasons planes will be prepared by private chefs used locally sourced ingredients. there will be a concierge on board to help you book spa treatments, tee times as well. you can charter the four seasons private plane, a ten-day trip will cost you around $2 million. you have to stay at a four seasons. >> nothing like a bit of spare change on luxury holidays.

finally robert franks wonderful little story about how they changed the tax law for states in new yorkhere's a narrow band in there where you might end up on a portion of your estate paying as much as 164%. >> alan, thank you. i hope you're not one of them. >> no way. >> up next two market experts revealing bargain stocks that they say you can't afford to miss out on. city of detroit hit upon hard times but one entrepreneur is driving through them. he started his bus company and his story is just ahead. ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. >>> welcome back. spring is in the air. stock shoppers are on the prowl after nutrient selloff we've seen especially in the nasdaq. what's stocks you should add let's bring in roberts luna and shane sedderman. welcome to you both. this is exactly what we want to know right now robert. do you have your shopping list ready? where do you see val

morgan bren nonand robert frank back with you in headquarters.rket coverage is bob pisani. first of all, i want to go to howard dean, who has just informed me that he's just returned from ukraine and that is certainly top of mind when it comes to the action today, spooking some of the traders. saw a flight to quality. >> it's going to be a spooky time and anybody with money in russia will have a rough ride. i think putin will probably invade. i think the sanctions -- i think obama will put the full bank sanctions that iran's got on them and i think that's going to give russians a very rough economic ride. >> that's a scary scenario. >> it is a scary scenario. >> talking about a u.s. tough response with the full sort of sanctions as they're known, targeting sectors. >> i think the biggest target will be the banking sector. that's what brought the iranians to the bargaining territory. when you can't do business with any bank who does business with the united states, you really can't do business with anybody. that forces the europeans' hand. doesn't

robert frank wrote a study that says super rich people really don't mind high taxes. go figure.er $30 million they don't mind. go figure. >> so for people who are $30 million or above are more inclined to pay higher taxes. >> four out of ten wouldn't mind it. >> thank you. >> thank you, kelly. >> wasn't it kristen bell who was talking about this as well saying i would happily pay higher taxes. i should be taxed for more. >> after she took the money from kick starter to do her movie. i mean, it was the most hypocritical statement out there. >> how is it? >> because she said rich people have the ability to fund things. well she had the ability to fund her movie and she let fans fund her movie. >> if i can be her for a week, i'll pay 90% taxes. >> that's how we can solve our tax issue in this country. >> i don't think i would mind so much either. >> paying higher taxes. >> being kristen bell. >> i see. so going back to what alan was saying, gloom, doom, you're being serious that we hear this narrative over and over again that the market is about to collapse, it's about to crash. is

shaking up the watch industry here on the floor is our own robert frank.ental rips. now 11 james is launching what you could call a timepeace timeshare. how does it work? >> very simple. >> it is an annual membership progr program. you say how many watches i would like to enjoy, three or six different watches per year for a fraction of buying one. >> we're talking anywhere from $2700 per year to up to $17,000 a year, again, to time share these watches, depending on the value, right? >> that is correct. to give you context at $17,000, you're wearing six different $50,000 watches per year. a quarter million dollars of watches for $17,000. >> that has to be a couple hundr hundred thousand dollars of watches here. >> this is a nice display of watches. >> is this for people who can't afford a nice watch but want to wear one to impress people or something different? >> absolutely not. >> having worked at different markets, there were many who couldn't get enough velocity and tradiing and having more watche. there must be a way to have that a low frequency trade

. >> this is a piece by robert frank. he's been hitting it out of the park this week. th-- signals th the tax man know. big round numbers. whether or not you use an accountant that tangles with the irs. if you use the word yaut anywhere in your tax return, that means come on at me. people are loving it. that's what we're playing with today. >> go ahead. >> that's been one of the fun ones today. all the tax stuff has been great. >> send that over to us. >> did you get your money's worth from your tax dollars? we'll show you the best ones when we come right back with the final thought. final thought. you are feeling powerful with a 4-cylinder engine. [ male announcer ] open your eyes... to the 6-cylinder, 8-speed lexus gs. with more standard horsepower than any of its german competitors. this is a wake-up call. ♪ afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection. and because usaa's commitment to serve current and for

robert frank tells us why the valley now leads the nation in luxury sales. banker marks the markets in america based on price, sales volume. number one in the country is woodside, california. that's the posh equestrian community in california. it has the most expensive homes sold in america last year. that went for $117 million. even for a modest home the bidding wars have crazy. this house just came on the market. let's just see it. $5.8 million. within three days the broker had five competing bids. sold for $7.3 million a week later. the buyer was 30 years old. three of the top five luxury markets in market are in silicon valley. along the woodside, portola and hillsborough county. everyone in finance that's feeding off the tech boom. we look for the cheapest home in wood side. it's the cottage in the woods. two bedroom, one bath, price, $949,000. guys, back to you. >> that's scandalous. >> i like it. >> what's scandalous about it. >> it was a little shack, like a little nothing. that reminds me of new york, what you can get for a million dollars which is

robert frank. bringing us more stories about luxury travel in this country.nt. crude has come back to 101 but talk about gas stock piles, the lowest we've seen in several years at this stage of the year when we know we're about to enter the summer driving season. jackie deangelis is over at the nym nymex. >> that's exactly right. lot going on in the energy complex this morning. start with the department of energy on crude oil inventories. a build this week of 3.5 million barrels in line with what they were expecting. what was interesting we were lower this morning and now slightly higher but coming down on this number. it is a bearish number. still talk to john gilldove and he said there are a couple things you need to think about that could pressure prices further. first of all iraq announcing production is above pre-husain level -- pre-husain era levels i meant to say. meantime iran exports to china aring continuing to increase. this is as sanctions are backing off a little bit. he thinks we have reached a top in terms of the oil prices and will go lower. t

frank somerville. >> and i am julie haener. >> there is outrage on a campus after someone killed chickens that were part of a class project. ktvu's robert handa is live in santa clara where he spoke with parents and students about what happened. >> reporter: there were other animals involved in this. students and staff are still dealing with this discovery as well as finding out young boy whose did not attend the school were responsible. police say three young boys were takeb into custody -- taken into custody today after going on a vandalism spree. students, parents ask staff told -- and staff told me the animals were tortured. >> reporter: how are the students reacting? >> ridiculous. unacceptable. whoever is responsible i hope that they get what they deserve. >> this is a tragic and heinous event. also the vand throm the property. -- the vandalism to the property. talking kids at the middle school level. >> talking now middle school, we better look at the parents too. >> reporter: [ inaudible question ] >> better not be. >> reporter: police are still questioning the boys but they will they have all the people responsible for the deat

frank somerville. >> and i am julie haener. >> there is outrage on a campus after someone killed chickens that were part of a class project. ktvu's robertnda is live in santa clara where he spoke with parents and students about what happened. >> reporter: there were other animals involved in this. students and staff are still dealing with this discovery as well as finding out young boy whose did not attend the school were responsible. police say three young boys were takeb into custody -- taken into custody today