melissa: sibila four? t do background checks? have you still see it? >> absolutely.round as a part of it. and what we like to say is a rehire personalities. you know when you see it. there's a spirit of customer service and a willingness to be helpful. those things come right at you if you know what you're looking for in a heavy. we can take you in teach you have a full the napkin, house of place the menus and from our guests, had agreed to guest with the proper words, but if you have the spirit of customer service and a natural smile, i want you. if you don't like to smile, i'd like you. melissa: folding the napkin. i had no idea that was something you had to do. you were nodding your head. >> he is absolutely correct. he really is. melissa: how important is it to be entirely staffed up when you get started? wonder if this is one of those things we start with a few people. it's a big commitment to bring people on. >> absolutely. you have to be well capitalized because you have to be well staffed. at first impression, it's like anybody else. the first impression is e

sibila king for strength? a put some muscle in your portfolio, president and director of equities. i do want to start with this issue. certainly on a day like today we see gold spiking, silver spiking. you see this flight to safety. to you think investors are making a knee-jerk reaction? >> it's hard to blame any investor who's trying to get safety at that time, and of the summer when there is not a lot of volume. the equity markets have run at the expense of commodities. now they're just taking a little bit page back to what we saw the was working before. guess what was working before? dollar commodities, silver, treasurys to be right back for a lease the time being. cheryl: what sectors to you think will be affected if we do go ahead? with, of course, are partners with nato. >> that's a good question. we have seen some of them already. most effective if the consumer gets sorry to come and we have seen some of that. some of the other retailers. consumers get a little worried with rising rates. some of the new

i think that the average investor sibila canal for the long term. don't get your short-term cloudy.you buy for ten years because you believe it's on a turnaround, don't let an apple thought or oil prices hurt your long-term thesis as long as is not directly correlated. things are falling apart. factories. everything is still on track. i think that's whatappened to the average investor. >> so many people out there are reluctant to buy things like general mills or nike are things that they use in their everyday life. i find it fascinating. watch thishow last night. the nasdaq was down 79. what the heck? no one ever promised it would go straight up. >> i have to take a difference. i don't think there's anything today you can just buy and hold for ten years. the have to do your homework and watch these things. you have to invest in the fundamentals. sometimes a change, and when they do you have to get out. charles: as the point. fundamentals can change. >> absolutely. you have to pick your poison, and you will be right all the time. if you pick ten scks and you're right five times, two

sibila loss, but no big deal. this doesn't change the outlook. the economy's getting better. some taper back a little bet some point, but the fed is doing a masterful job in maintaining the money supply us through what has arguably been one of the biggest financial crisis we have seen the last hundred years. i think that ultimately a very, very, very easy money, the decline to balance sheets, it is not sustainable or something they want to see. i was anticipating the next couple of years as long as the economy keeps moving forward as it is that the fed has to taper and eventually raise interest rates. tracy: but we were originally talking about september. you still see that in the cards? we talked earlier about the same louis fed president saying the committee really should wait for more economic data. is september still on the table as far as the taper timeline? >> i guess it is possible. i don't think that the -- i don't know that the actual timing, whether it is september or later in the year really matters all that much. ultimately what really matters is earnings overlong

i worked for secretary sibila is set the department of health and human services. >> i'm the managing director for economic policy here at the center for american progress. deficits and debt. >> was wondering if we could start with you. we heard numbers mentioned in the introduction. i wonder he might drill down on the more. the office has some additional information. maybe even what we might be seeing if sequestration continues. >> let me start. our topline numbers of children now. that's about 6,000 infants and toddlers that otherwise would have been in her early headstart and 51,003 and for your roads. so about 60 percent of our children had to make these cuts in the enrollment. then there were other programs that made other choices. mentioned at the beginning, there was flexibility about how poor room or able to implement the cuts with the caveat that the standards we have for the quality and health and safety of our programs are not negotiable, something that you really quite -- can't minimize the quality or do anything that would not be a general standards. we have some flexibil