stephanie elam is here to talk your business.gs we would do. >> take one for the team. i'm coming, got to get me off. >> john said he would be arrested. >> i would be in jail in a heart beat. >> i would e-mail and call everyone at cnn i know. >> i would be on every cable channel the next day as the hero who rescued everybody and took one for the team and went to jail. >> it is. you talk about the tough times for the airline industry and everything that's going on. that's the exact type of thing you don't need to see happen. >> that's the last thing that you need as a public thing -- you can't get people from a small town up to where they're trying to go. >> let's talk about what you hear for us. selling cars on ebay. lots of people do it. companies are going to do it. >> the company would be gm. large company trying to do new things, reinvent themselves, get you back in there. that's what they're doing with a website called gm.ebay.com. they're working with 225 dealers in california. if you're not in the golden state, this is not

stephanie elam is at the new york stock exchange with more details on that.it having an effect on the market? >> president obama has ended the speculation about ben bernanke's and that could jeopardize what has happened to make things better. bernanke has used some unprecedented moves this off the recession from turning into a depression and he's pushed interest rates to near zero. he's bailed out big companies like aig, gm and chrysler. unleashed new programs to allow companies to borrow money directly from the government and keeping bernanke in his position shows the president isn't changing his economic plan. it shows a bit of stability by keeping the people in place who are there through all the turmoil, heidi. >> but those actions haven't come without some criticism. earlier we showed the sound when the subprime mortgage crisis is going on. he didn't see that it would bleed into other parts of the economy. but i bet be can expect more of this type of questioning or issues to come up during the senate confirmation hearing. >> yeah. he will still go throug

stephanie elam joins us with mind your business to talk a little more about why. thanks. goodnight. goodnight. (door crashes in, alarm sounds) get out! (phone rings) hello? this is rick with broadview security. is everything all right? no, my ex-boyfriend just kicked in the front door. i'm sending help right now. thank you. (announcer) brink's home security is now broadview security. call now to install the standard system for just $99. the proven technology of broadview security system delivers rapid response from highly-trained professionals, 24 hours a day. call now to get the $99 installation, plus a second keypad installed free. and, you could save up to 20% on your homeowner's insurance. call now-- and get the system installed for just $99. broadview security for your home or business - the next generation of brink's home security. call now. >>> 20 minutes past the hour. stephanie elam watching your business, watching gas prices creep up day after day. what's doing on? >> reporter: anyone on the roads is aware of the fact there's a light increase there, kind of like my voice t

stephanie elam live with what you need to know. i had felt fine. but turns out...cholesterol and other risk factors... increased my chance of a heart attack. i should've done something. now, i trust my heart to lipitor. when diet and exercise are not enough, adding lipitor may help. unlike some other cholesterol lowering medications, lipitor is fda approved to reduce the risk... of heart attack, stroke, and certain kinds of heart surgeries... in patients with several common risk factors... or heart disease. lipitor has been extensively studied... with over 16 years of research. lipitor is not for everyone, including people with liver problems... and women who are nursing, pregnant, or may become pregnant. you need simple blood tests to check for liver problems. tell your doctor if you are taking other medications, or if you have any muscle pain or weakness. this may be a sign of a rare but serious side effect. i was caught off-guard. but maybe you can learn from my story. have a heart to heart with your doctor... about your risk. and about lipitor. >>> your top sto

stephanie elam with the break down, thank you, stephanie. >>> not exactly a happy ending for all autoyota is announcing it's closing a plant in california, putting thousands of people out of work. susan lisovicz is at the new york stock exchange with more details on this and the market movement today. good morning to you, once again, susan. >> hi, heidi. well, well, toyota is closing the only major auto plant west of the rockies location is fremont, california, south of san francisco. it was a 25-year joint venture with gm, but gm pulled out when it went bankrupt and it was simply too expensive for toyota to keep up on its own and too inefficient. the plant employees nearly 5,000 workers who put together corolla compact cars and tacoma pick-up trucks. now, production will be moved to san antonio and also ontario, canada, and japan. many, many of these jobs are at risk and at a terrible time for california, which, of course, we all know has been hard hit by the housing crisis, in particular. the recession in general and it is a higher than average unemployment rate and has a budget cri

stephanie elam takes a look at how the festival is reaching a whole new audience?king it's anniversary, woodstock is alive. asked bohemian style icon, sienna miller. >> if i could have been at one event, i would have been there, historical event. woodstock to me -- i would have chosen woodstock. of any historical event? >> reporter: that is something that bobby columbia of blood, sweat, and tears has only recently come to assess. >> we had no idea this was anything but a large festival. there was no clue that it would become a defining moment in our culture, nothing like that. yeah, peace, man, isn't this love, brother? no, i didn't get any of that. >> reporter: the three days of peace and music in 1969 remain more than an isolated snapshot in time for the younger stars recreating it in the new big screen comedy, "taking woodstock." >> somebody like jimi hendrix r janice joplyn is great to look for. >> reporter: it is not just baby boomers who are holding on to the woodstock mystique. >> reporter: for young people, there is a pay began element to festivals like woo

romans at the business desk in new york and let's start over at the new york stock exchange with stephanie elam and, stef, look, however you slice the numbers here, we are talking about an enormous amount of debt in the cbo's ten-year deficit outlook. but the number, let's be honest here, is coming in less than anticipated, correct? >> yeah, you're still talking about numbers you can't even really fathom, tony. being less than that and being less than gargantuan. we did get two budget updates today. congressional budget office, that estimate saying they expect $7 trillion in deficit over the next ten years. now, the cbo is like congress' official scorekeeper. this number is better than previously projected and the reason why they anticipated more financial bailouts and bigger losses at the fdic because of failing banks. so, basically, what they had, they were planning for the worst, but the economy is now stabilizing and then on the other hand you have the white house office of management and budget and they expect the ten-year deficit to hit $9.05 trillion. that's worse than its previous estim

stephanie elam is at the new york stock exchange with a preview of the trading day. we don't expect a whole lot to happen, do we? >> no, we don't expect a whole lot. we're still going to wait because that's what we do. this is what we do every time this comes out, 2:15 eastern time on fed day. we get that news about what's going to happen. but right now we really just expect a flat open. a lot can change once the fed decision comes out here. fed's key interest rate is likely to stay near zero but what investors really want to see is the statement that comes along with it to get inside the minds of those in the fed to figure out what they're saying an why they've kept things the same or changed it. it will give us an idea how policymakers view the economy and what they plan to do down the road. all of this comes after a "wall street journal" study shows most economists relieve the recession has ended. a new report from the housing market is giving hope that that may be true. toll brothers says orders for new homes rose 3% in the first quarter marking the first year ov

stephanie elam joins us from new york. good news, stephanie. >> yeah, i don't think people will be mad about this one. the recession is pushing demand for electricity way down, leading to a drop in prices at the wholesale level. demand is down 4.4% in the country. that serves 13 states just east of the rockies. that sends whole sale prices down 40% in that market. >> wholesale rates going down. how about retail rates? when will consumers see their bills get smaller? >> right, when is it going to affect us? it could take some time. a lot of customers pay based on long-term contracts. changed are not going to show up immediately in your bill. bills are falling in some places. here in new york city utility company says electric bills this month are down 30% from a year ago. so really comes down to where you live. in most cases. prices for electricity are regional. here in the northeast, lots of natural gas. those prices have fallen more sharply than sources of electricity more prevalent in other parts of the country. >> peopl

stephanie elam is at the stock exchange. good morning. what are the chances for a rebound? have as cool a shot as the tram cam, but we do have a good look at the market. all eyes are on the federal reserve today. the central bank will release its decision at 2:15 p.m. eastern. the feds are expecting to hold steady for the fifth time this summer. investors will be scrutinizing the statement that comes out, along with the report, for any clues of an economic recovery. home builder toll brothers are helping to build a consensus that's under way in the housing market. contracts for new homes increased for the first time in four years, but revenue still fell sharply on new home prices. >>> the department store operator says in an effort to cut expenses has led to an overall slowdown in the specter. they have plans to add toy departments to 20 of its stores. recently sears has been trying a number of ways to draw customers, including layaway plans and even laid out its christmas displays last month. i remember my very first stuffed animal came from a department store toy section,

stephanie elam has our story. good to see you. >> good to see you.half of the year, demand is down in the power market. that serves 30 states east of the rockies. that sent whole sale prices down 40% in a area. in fact, it's a drop in more than 50 year, tony. >> well, that's the wholesale level you're talking about. when let l we the consumers see our electric bill start to come down. >>? >> that could take some time. changes at the wholesale level they're not going to show up immediately but bills are falling in some places. con ed says electric bills this month are down 30% from a year ago. a lot depend on where you live. here in the northeast there's lots of natural gas and those prices have fallen more sharply. so you have to kind of take a look at your area to know that one, tony. >> explain this to me. how come some are seeing their bills get more expensive? >> it really depends. they aren't buying it whole sale. we talked to duke energy and it's asking for rate increases of 7% in south carolina and 12% in north carolina. now, what's the reason

stephanie elam is here to tell us what to look for in the last few days. >> reporter: if you've got aas luz guzzler at home, time is running out to get cash for the clunker. the government is shutting down the $3 billion program on monday because it's almost out of money. they have to submit all paperwork by 8:00 p.m. eastern on monday to guarantee they'll get paid back for vouchers up to $4,500. the some stop offering the deals on sunday to make sure they have enough time to complete the paperwork. more than 450,000 clunker deals were reported. 1.9 billion dollars in rebates, chuck. >> are we going to see a huge rush this weekend? >> one is telling us he's planning a big advertising push, because he doesn't want to leave any dollars on the sidelines. we've been talking about it here. a lot of dealers have been frustrated with the whole program. in new york hundreds pulled out of the program all together. the government was taking too long to pay them back for the vouchers. the transportation department is adding more workers to speed up dealer reimbursements, chuck. >> if you want to

stephanie elam at the new york stock exchange.ed is saying, okay, we are going to keep it where it is? >> reporter: indeed, they are. that was widely expected that the fed would go ahead and leave things as they have been since december. that's the last time they changed it, dropping it down to the range where we are now, near zero. it is starting to level out. those are the words they have used and that conditions in the financial markets have gun to show signs of improving in recent weeks. we have seen that with the dow being up about 1,000 points since june 24th, which is the last time that they met and had this decision day. obviously, while they point out that things are starting to look better, they are still saying it remains constrained as far as the stabilization. household spending not going back out there. that's not helping as much right now. they said that is weak. because of that, economic activity will remain weak for the for seeable future. no hint on when they will make any changes to the interest rate and start l

. >> a bit later in the "newsroom," we will go live at the new york stock exchange where stephanie elam will fill us in on what bernanke has done to earn the president's approval. >>> california's economy has taken a beating. government jobs have escaped some of that pain felt in the private sector. >> reporter: california has one of the nation's highest unemployment rates, 11.9% last month. since july, 2008, california has lost more than three-quarters of a million jobs. hardest hit, construction, manufacturing and trade. as those private sector jobs disappear, the number of people working for the california state government has risen by 1,600 in the past year. the private sector is always worried about the threat of failure. in the private sector, if you don't pay your bills, you go bankrupt, lose your job, your company gets closed down. it ends up in the hands of the creditors. governments don't have those kind of pressures. >> reporter: government arnold schwarzenegger has ordered many to take unpaid furloughs. they have approved budget cuts to reduce government jobs. still, the per

stephanie elam has "the breakdown" from new york. stephanie, good to see you.n there. good to see you. >> i know, tony, i think it has been so long since i've seen you. good to be here. >> like it was yesterday. >> if you have a gas guzzler, which i'm sure you don't, but time is running out to get some cash for the clunker. the government is shutting down the $3 billion program on monday, because, well, it's almost out of money. auto dealers have to submit all paperwork by 8:00 p.m. eastern on monday, to make sure they get paid back for vouchers up to $4,500. some will stop offering the deals on sunday or sooner to make sure they have enough time to get the paperwork done. so far, for the 450,000 clunker deals that have been recorded. and, tony, that's worth $1.9 billion in rebates. >> wow. >> a lot of money. >> that is a lot of money. so, are we going to see a huge rush this weekend? >> that's what the dealers are gearing up for. they're hoping on that fact right there. one tells us he's planning a big advertising push, as he doesn't want to leave any dollars

stephanie elam is joining us now from new york with all you need to know about this deal. i don't even buy shoes online. so i wonder if there will be a lot of people doing this. >> i find it really hard to buy pants online let alone a car. i guess it requires going there first and checking out a car and then going and doing it online. i'm really hearing myself in my ear. >> i hate that. that happened at the beginning of the show, we're still recovering, but we've got it now. >> you got it now? >> you go, i won't talk to you, you do your thing. >> i can hear you now and not hear myself. yes, this is a four week trial that gm is going to do here. test some waters, see how this works out with 225 of their dealers in california. so if you're outside of the golden state, not so much for you. this isn't going to work so well. chevrolet, buick, gmc, and pontiac cars and they'll have a selection of up to 20,000 vehicles and they'll be selling 2008, 2009, and 2010 models on the website. the program does begin today and the thing about this website. it's not just that you go on ther

stephanie elam has the breakdown from the new york area and time is running out, so, if you want to geton the action, what should you do? >> this is a big one for people thinking about whether or not this is right for them. if you have a gas guzzler time is running out to get cash for that clunker. shut down the $3 billion program on monday because it's almost out of money. auto dealers have to submit all their paperwork by 8:00 p.m. eastern on monday to get back vouchers for $4,500 and some will stop offering the deals on sunday to make sure they can get their paperwork done. so far 4,050 clunker deals have been recorded. >> so, we're seeing a huge rush this weekend. do you expect people to run out because they know that that deadline is banking. >> one tells us he's planning a big advertising push as he doesn't want to leave any dollars on the side lnz, but as you already know, a lot of dealers have been frustrated. in new york, hundred pulled out of the program altogether and they said the government was taking too long to pay them back for these vouchers and the transportation depar

let's talk about the volt's impact with our stephanie elam at the new york stock exchange.ave? i'm thinking on the car industry as a whole? >> yeah, it's definitely going to have an impact, no doubt about it, tony. there's a lot of things that we have to talk about, though, because for consumers, they have to weigh the costs, especially because this is the car's first generation. you just heard the vice chairman talking about that. >> yeah. >> that's when the cost is the highest, when it's in its first iteration. edmunds said the purchase price will be much higher than existing hybrids and it will take a year for the buyer to pay off its price preemup. j.d. powerpoints out that even with the tax credit, the higher price will eliminate a lot of the market. gm says beyond the tax credit, they may have to go ahead and subsidize the volt. when he was talking to cnn international, they know that they're going to have to take a hit for this, at the same time they're hoping that the technology is so strong and that it is strong enough that it will be worth it. and one of those sti

stephanie elam has the story. >> reporter: ah, life's simple pleasures. >> cigar smokers are the best in the world. you can enjoy a cigar, watch the lava flow, take a couple of deep breaths. >> reporter: and exhale. bobalu cigar a company is breegzing easy. this popular puff house is located on austin's famous sixth street. for nearly a decade this primeau location was enough to bring in big business. but now the hot spot is having to identify new techniques to keep the flames burning strong. >> we had to come up with a couple of different concepts to enlarge our periphery of concepts. >> reporter: this includes custom cigars and live cigar rollers you can watch on the internet. >> if you don't change you're going to be left behind, and innovation is something we're very, very key on. >> no fear of being left behind for this small business and no business that the surgeon general warns against smoking. >> tobacco got started a long time ago and it's going to be here for a long time and we're going to be here with it. >> all right. if you are a small business owner, too, we'd like to s

stephanie elam has her story. >> reporter: when kate goldwater left wisconsin to attend new york city state university, she brought along her sewing machine. girls went to her dorm. she sells her one of a kind-clothing ono line and at her east village boutique, auh 20. >> au is gold and h 20 is water and that's my name, goldwater-nichols. >> reporter: she mixes pieces together creating a fashion chemistry that's affordable, at times political, and always e eco-friendly. >> this is your little bag and it's reusable and better for the environmental. >> reporter: she offers vin talk shoes and hand bags as well as clothing by other designers. think thes by has been very successful. repeat shoppers know what they can find here and they always come back. >> well, if you're a small business owner we'd like to see your success story. go to cnn.com/robin. upload a video report of your busy and share your video and we could feature you on "morning express." >>> political troubles maybe coming to a head for mark sanford. you know, he's the one who made the secret trip to see his mistress in arge

today it's a different story and stephan stephanie elam is at the new york stock exchange. >> reporter a lot of economic data but today banks took a hit because of the commercial real estate market but today we are expecting consumer confidence to rise and, of course, keen to an economic recovery. that report is due at the top of the hour so we'll be watching that one. in the meantime, the report shows that home prices in the 20 biggest cities rose 3% in the first quarter and that's the first quarterly increase in three years. it's a sign of stabilization but we have a long way to go. quarterly profits rose 60% and that beat expectations. burger king still came out on top because it managed its costs well. fed chief ben bernanke, as one points out, the president did not reappoint ben bernanke, that would have caused a response because wall street does like bernanke. so, for now, not much movement there but all major indices are in the green now. >>> okay. don't fall for this. hundreds fell for a scam and had their accounts wiped up. . >>> twenty minutes to the hour. people are desperat

stephanie elam looks at his rise to the top of the garbage heap in this "small business success." >> reporter: aukd call tom zachy trashy and get away with it. he is the founder of a new jersey company that turns garbage into just about anything. >> the pouches we make into pencil bags and cases. circuit boards into frames, records into clocks. there is an infinite number of examples. >> paracycle's first product was a plant fertilizer made from worm ex-meant. now everything they make is about turning trash into treasure for cheap. >> we keep costs low by having waste as our input. our cost is just the sewing or the conversion but not the full cost of the product. >> reporter: tom dropped out of princeton in 2002 to focus on his multimillion dollar company, and he wants it to be a billion-dollar company in ten years. but it's not all about the money. >> just in 2008, we saved somewhere over 100 million units of waste. i think the planet will be a better place if terracycle succeeds and is huge. and so, i will do everything in my power to make this company a wild success. >> interesti

stephanie elam has the story in this small business success. >> reporter: this is a custard. this is a sweet potato custard. >> this is one of dorothy's specialties. she credits them to help launch her business. she pushed her pies to a fundraising event backed by shaquille o'neal. an event organizer called her later. he said, shaq loves your line. he kept sending a runner to get the pies. >> other celebrities were there and soon mommy helen pies, cakes and cobblers were flying out the door. >> anything else? >> word-of-mouth. bringing in all the customers forward. >> she started the business with two of her sisters. and the recipe of their mother. she said the secret to her success is simple. >> people want a dessert that's made from scratch. using the best ingredients. my mom taught me that. >>> those pies look good, the if you're a small business owner we would like to see your success story. go to cnn.com/robin. >>> there's shocking pictures, come here and look at this at a typhoon's aftermath. a six story hotel teetering on the brink. you got to see what happens next. pp

stephanie elam has the story.mall business success story today. >> when kate goldwater left with confidence to attend new york university, she brought along her sewing machine. classmates lined up atd her door. >> i was the go-to girl in the dorm. i could fix anything. >> the fashion designer sells her one of a kind clothing on line and at her east village boutique, huh 2 o. if you put it together, it's goldwater, and that's my name. >> it's political and always eco-friendly. >> here's a little bag, and it's reusable. >> her boutique also offers vintage jewelry, shoes and handbags as well as consignment clothing and items by other designers. >> i think this business has been very successful because they're repeat shoppers who know what they can find here, and they always come back. >> that's pretty rare, a girl in new york city with her own sewing machine. if you think you have a story that belongs on our show, send it to us at cnn.com/robin. you can upload it on the video ireport. share your tips and you could be

a new york woman planted the right seeds and stephanie elam has her story in this small business success. >> reporter: for sandra de ovondo, her roots helped her build a business. >> my mexican culture influenced this design, bold colors, bright yellow, bright orange, i love cactus. >> six years ago, she founded ovando. her business caters to high-end new york clients. >> we do weddings and events, hotels, restaurants. >> reporter: continuing to grow despite the wilted economy. she contributes the success to the simple yet exotic arrangements. >> the design is mostly modern. we really bring out the natural sophistication, natural life of the flower. >> her employees also make her business blossom. >> most of my families are from different industries. i believe you can teach someone tricks of the trade but you cannot teach someone to do the right thing. i'm very proud of my team. >> if you're a small business owner, we would like to see your success story. go to cnn.com/robin, upload a video of your biz. >>> living on bubblegum and cracker, three men lost at sea are finally found 180 mile

. >>> stephanie elam has a sweet story in this small business success. >> this is a custard.s is a sweet potato pie custard. >> sweet potato pie is one of dorothy's specialties. almost a decade ago, dorothy pushed her pies into a fund raising event hosted by basketball star shaquille o'neal. an event organizer called her later. she said, shaq loved the pies, and shaq was the first one that was in line. he kept sending a runner back to get the pies. >> other celebrities were also there, and soon mommy helen's pies and cakes were running out the door. dorothy started the business with two of her sisters, and the recipes of her mother, mommy helen. she says the secret of her success is simple. >> people want a dessert made from scratch using the best ingredients. my mom taught me that. >> you want to get your small business on our air? we would love to see your success story. take a video, share your tips and upload them under ireport. send them to cnn.com/robin and you could be featured on morning express. >>> president bush seemed to be his strongest supporter. an upcoming boo

we'll talk to stephanie elam for the latest on an announcement from ford.ey. >> hey, yeah, that's indeed a case. a roque session for stocks today after a mixed bag of news. walmart beat expectations but a pair of troubling economic reports weighed on investors. new claims for jobless benefits rose by 4,000 to 558,000. well, that's worse than what economists were expecting. the number of people who continue to receive unemployment benefits for one week or more did drop to 6.2 million. that number is still very high, however, a sign that the overall jobs picture remains fairly bleak, and retail sales unexpectedly fell by .01 percentage. gains from the cash for clunkers program were overshadowed by weakness from furniture and clothing stores. the dow gained 36 points to 9,398 and the nasdaq picked up half a point and the broader s&p 500 added six points. ford is ramping up production as a result in suffrage for demand for the government's cash for clunkers program. the automaker says it plans to build nearly 500,000 vehicles in the third quarter. that's up abo

let's check in with stephanie elam at the business desk in new york. how you doing?e stocks a boost, led by gains in financial shares. the dow adding 37 points to close at 9580. nasdaq and the s&p 500 were barely above the flat line. the nation's gross domestic product declined 1% in the second quarter. that's unchanged from the estimate made last month and it's far more upbeat than the 6.4% drop in the first quarter. meanwhile, jobless claims declined by 10,000 last week, but the overall number of people losing their jobs remains very high at 570,000. keep in mind that the unemployment rate is expected to continue to rise. so just how prepared financially is the average u.s. worker if faced with a layoff? a survey from monster.com reveals that two-thirds of workers lack proper savings to deal with such an emergency. 34% said they have less than one week's worth of savings to cover living expenses if they're laid off. conventional wisdom has it that people should have savings to last them about six months to cushion against a layoff. richelle, get out there and start