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Transcripts For CNBC On The Money 20160220

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Future. Jobs at Top Tech Companies are overwhelmingly held by white males. But theres an effort under way to break that glass ceiling. Black girls code is a nonprofit reaching young africanamerican girls and showing them coding and computers can be fun. Together theyre working on cracking the code and its our cover story this week. I had no interest in doing this. I thought it was boring at first. When i actually started doing it it was fun. Reporter 11yearold Madison Harvey is one of 300 girls learning how to build a robot at this weekend workshop. Its put on by black girls code, a nonprofit aiming to bridge the gap in Stem Education for young girls of color. Shes excited about science and math and engineering. And what other opportunity for her to be around other girls that look just like her couldnt this one goo here . Many of these girls dont have role models in engineering or Computer Science. Black women make up less than 3 of the workforce at the biggest tech companies. Kimberly bryant, electrical engineer who worked in biotech over 20 years, understand their dilemma. I was one of maybe two or three students of color in my Electrical Engineering class when i went to college. Reporter bryant founded black girls code with hopes of literally changing the face of technology. When we generally think of a Computer Scientist now, it does not look like a woman of color. Its very much white, male dominant. And thats important for us to show that black girls can code. Most black girls arent into computers and stuff. But its really cool and fun. Reporter black girls code held its first event four years ago in San Francisco with eight girls. Today the nonprofit has chapters in eight u. S. Cities and johannesburg, south africa, with plans to expand to dallas and miami this year. Its funded through corporate sponsors and partnerships, donations and a 35 fee to attend workshops which can be waived in some cases. Starting in 2011, black girls code has offered workshops to about 5,000 girls ages 7 to 17. Theyre learning everything from Computer Programming to coding to building mobile applications and even robotics. Many of these girls dont just come to one black girls code workshop. Madison is here for the second time. Interacting with people, its like i enjoy this. Reporter the organization, though still young, is already achieving its intended impact. Were seeing girls that have come into our program really sound, they have a love of technology and use that to go into Computer Science as a major in college. Reporter madison may just follow that same path. Its like a door opened for me so its a possibility that i might want to pursue this. Ava rivers is president and ceo Concepts Group of international and olivia ross is just 14, but active in black girls code for three years. Thanks for joining us. I had a great time in berkeley talking to these girls and learning about black girls code. What progress has been made and what obstacles are there still to overcome . Those obstacles are typically an unwelcome environment or even hostile environment because if you remember that these Corporate Cultures were built by men, for men. And so a lot of the times theres unconscious bias at work which prevents women from really feeling as if their contributions are valued and that they thats right so they wind up leaving. Eve seen a dropoff in terms of women majoring in Computer Science. Why have we seen this dropoff . The image of Computer Scientist is not something that girls aspire to be. If you put up pictures of what does a Computer Scientist or engineer look like . It doesnt look like me or olivia. Olivia, you see yourself as going into technology, maybe Computer Science. What got you interested in this in the first place . I started learning how to code when i was around 11. My brother brought home this book on html and wouldnt let me see it because i was young, he was worried my 11yearold fingers would get it messed up. He told me this pretty much change the my life, he told me to google it. And i was like, oh, okay. Youre going to be rude to me, wow, okay. First i learned html and css and i was able to make my own web pages but i wanted to do a little bit more. I ended up moving away from web pages and going into making software and games. Video games. For young girls who are interested in Computer Science, it was very easy to sort of lose that spark unless you care for it, right . A lot of times you have to care for it within yourself or theres no one that youre seeing is there a role model thats telling you to do this . No, its coming from you. When you have teachers that dont really push you or people arent encouraging you to do this, then its really important that you remember why you like Computer Science and you remember that even though theres no one around you saying that you can do it, you can do it. Right now in the Corporate Culture a lot of the people that are coming into these technology jobs, they may be foreign workers, they may be International Candidates that are coming in. How much is being home grown of our own talent . Not enough. I understand the importing of talent because American Companies are creating so many new tech jobs that its difficult to fill them because the pipeline is basically empty. Owe life yeah, 10, 15 years from now when youve graduated from college with your Computer Science degree, where are you going to be . At my company. We need her at our company, we need technology in all companies. Its going to be a war. Where do you see yourself . Im definitely passionate about learning about Computer Science and mathematics. And i would probably aim to get a ph. D. In mathematics. But i would definitely be continuing to work on my own Technology Projects on the side. I would definitely probably continue that as well. You are both an inspiration. Olivia, avis, thank you so much for joining us. Thank you. Now heres a look at whats making news as we head into a new week on the money. She may not look it but janet yellen and other members of the Federal Reserve were worried about global and market volatility. Minutes from the feds last meeting in january were released this weekend. They show yellen and others were concerned that the turbulence could impact the u. S. Economy. That could mean the chances for another rate hike soon have decreased. The markets seemed to like that. The holidayshortened week saw stocks with their first threeday winning streak of the year and the best threeday gain since late august. Stocks were mixed on friday. If youve flown anywhere lately you may not agree but u. S. Airlines are doing a better job of arriving on time than they did last year. About 78 of domestic flights kept to schedule, according to the department of transportation. Up from 75 last year. Up next, on the money looking to make extra cash . Look no further than your closet. The big business behind giving secondhand a fresh start. And later, innovation at the atm. How banks may soon be looking deep into your eyes, but its not true love. As we go to break, a look at how the stock market ended the week. With swing spring around t corner, its time to earn some money. James rheinhart is the owner of thread up. We have a bag, we have clothe heres. How does it all work . Its super simple. We send you this bag, its free. This bag here. That bag. You go through your closet, you put all your things that youre no longer wearing, you leave it on your doorstep. We partnership with the postal service, with fedex. We have a prepaid label on it. We come by, pick it up and pay you for all the things in the bag. How do you decide how much my shoes, dress whatever is worth . We take almost 25,000 brands. Over the years we built a catalog of what things are worth. We look at every item based on quality, brand, resale value. We pay you what we think is the market fair price. You can send us the chanel dress and the sweatshirt from the gap. Put it all in the same bag and we can figure out how best to pay you for all those things. A lot of people might say ive been doing this on ebay for 20 years. You have other competitors that are new competitors in the space focusing on the luxury end. What makes you stand out . I think the people who sell their own things, its a different type of person. A person who wants to maximize the last penny and is willing to do a lot more work. For thread up, really its about convenience. Its about taking all of those brands. Its not just luxury. We take the h and m. Thats the differentiator over the long term. What made you start this business . You were a teacher, helped to run some charter schools, then got into resale. How did that happen . I kid you not, i was getting dressed one morning, opened the closet to a closet full of clothes i was never going to wear. How many people do that . I took to it a consignment store. They said, we dont take this. They didnt take my brands, they didnt take mens. I went to school that day and i asked every woman i could find what percent of the clothes in your closets do you wear . Nobody ever said more than 50 . I had this light bulb moment, theres got to be a better way. You said you focus on moms, and i have womens clothes. Will you take childrens, mens clothes . Kids is a huge part of our business. We love serving moms for themselves and kids. Handbags, shoes. The irony is not lost on me that we dont do mens, but its because mens is a small market in resale. Womens and kids is the sweet spot. All right. Thank you so much for joining us. Thank you for having me. Thread up, thanks. Up next, on the money. From fundraiser to fulltime business. How one moms School Project turned into a booming farm to table company. And getting sick of winter . Then get away. We search the globe for some of the best vacation deals that will have you ditching that jacket for a bathing suit. Four score and seven years ago, our fathers brought forth [train horn blares] to the continent. A new nation. Announcer president s day may be over, but the savings go on at sleep train. Through sunday at sleep trains president s day sale save up to 300 on beautyrest and posturepedic, get three years interestfree financing on tempurpedic, plus sameday delivery, and sleep trains love your mattress guarantee. Hurry sleep trains president s day sale ends sunday. Your ticket to a better nights sleep its not often that a School Project turns into a fulltime job and business. But one mom in chicago is now connecting farms and kitchens. And its grown beyond her wildest dreams. Kate rogers joins us with more. Linda was a single mom with a passion for healthy food. She literally started her company, farm logic, at her kitchen table, take a look. Like many moms, linda found herself working on a pta fundraiser, packing boxes of produce for friends and neighbors from local farms in wisconsin. Her project took off with a nearby high school asking to place that local produce in their cafeteria. And from there farm logics was born. A tech platform connecting farmers to large institutional kitchens born out of the farm to table movement. We all go to restaurants and see the local farms on the menu. That is a wonderful concept that really engages us and allows us to understand where our food comes from. When a chef puts a local farm on the menu it educates us about our food. Reporter the chicagobased company has done 8. 5 million in sales with more than 200 farms across the country. Large partners include pea pod, the Online Grocery service, and food service giant arromark which has placed her in more than 1,000 schools nationwide, including the Chicago Public school district. Its helpful for us because consumers are more and more looking for transparency in the food that they buy and the food that they eat. And so they want a safe way to understand where and a trustful way to understand where theyre getting their food and where its being supplied from. Reporter linda estimates theyve fed more than 500,000 kids so far in schools and universities across the country. We help farmers and we help them change their lives and be sustainable and viable. But on the other end, their food is going into lowincome communities. Its feeding kids. Were bringing farmers into classrooms. Another cool thing about this small company, theyre about 80 women. Many working moms just like linda. Great idea. You have a great idea and you start a business for it. How do they actually make money . They Wont Disclose their fees but its free for the farmers. Farm logics rolls nor costs into the contract they have with Big Companies like pea pod and aramark. Whats interesting, the farmers get a lot out of this because they get a free platform on the farm logics website, they get brought into these schools so they can educate kids about where their foods coming from and why its important to start eating healthy at a young age. Thank you very much for bringing the story to us. Thank you. Here are stories coming up that may impact your money this week. Well see earnings from dow component home depot as well as macys, lowes, target, hp, weight watchers. Tuesday a read on home values with an s p caseshiller home price index for december. Well get a report on this months consumer confidence. Thursday brings the durable goods number for january and the latest gop debate takes place in houston, hosted by cnn and telemundo. Friday well get the second read of the Gross Domestic Product for the fourth quarter. Up next, on the money. High end without the high price tag. Weve got a list of amazing travel deals that will warm you up and keep your wallet happy. Innovation at the atm. Forgot your card . No problem. For more on our show and our guests go to our website, otm. Cnbc. Com. Follow us on twitter onthemoney. If youre tired of the cold and looking to get away youre in the right place. Jamie friedman is the Group Publisher for travel zoo and has come up with a few great options for us. Where are some of the places that we should be looking right now for the best deals . The first place im going to send you is wine country in sonoma. Thats good. Two deals were going to get you there. The first is weve partnered with Virgin America and we have an exclusive 10 to 20 off Discount Code into San Francisco airport. So that means flights from new york, for example, were seeing about 250 round trip. Wow. Coast to coast. Which is incredible. Yes. Pair that with the Fairmont Sonoma offering deals into may for about 40 off right now. Where else can we go . Abroad . Costa rica. Fares are actually surprisingly low, about 300 round trip across the east coast. Pair that with the jw marriott on the west coast of the country about a threehour drive across. But its totally doable, ive done it. A little bumpy. Theres massive savings there, about 40 off. Sounds very nice right now. What about hawaii . Can you get to hawaii on the cheap . Whats exciting about maui is Virgin America Just Launched a route from San Francisco to maui which means more competition, which means prices are going to start coming down from the west coast. Were seeing about 495 round trip from San Francisco directly into maui right now. Pair that with the grand weileia, beautiful property on the beach. Theyre offering not only 250 off regular rates, but stay five or more nights and you get a 500 credit onsite. If you want to go somewhere exotic can you do that on the cheap . Cheap is relative but you can get great value. Tahiti is where i would recommend. When you think of tahiti, you think of beautiful overwater bungalows. Those normally cost a premium. There is a sale where you are spending your sixnight vacation in overwater bungalows, includes air from l. A. , the Puddle Jumper flight to this remote island, and instead of paying 6,000 which is what it would normally cost, its about 4,800 for two people to take this trip. Not so bad. If you can splurge it might be worth it. Yes. General moneysaving tips looking to travel this time of year . What type of things should you think about . When youre booking flights you should always travel tuesday, wednesday, saturdays tend to be the least expensive days to fly. Because everybody wants a long weekend. Exactly. I love coming back on saturday from vacation. Something else to think about is maybe a city escape. Its not escaping the cold but cities like new york right now have the least its the least expensive time of year to do it. So take the fivestar vice roy, normally over 400, theyre running rates for 199 right now. Great tip. Thank you for joining us. Thank you for having me. Now i want go somewhere. Thanks. If youre planning a trip somewhere, youre going to need cash. How do you get that cash will be changing. No matter where you bank. Kayla tausche has more on a bright idea coming soon. Reporter smartphones, smart homes, smart watches. Now your atm is getting smarter too. We view this as much broader than a cash dispenser. Reporter Jpmorgan Chase is overhauling its 18,000 atms and soon you wont need a card to use them. At the eatm launching later this year, it wont matter if you left your wallet at home, just log into the chase app, find the sevendigit code, type it into any chase atm in your vicinity. Its one of hundreds of features brainstormed at the banks Innovation Center in columbus, ohio. Some ideas like a fingerprint scanner got left on the cutting room floor but others are being put into practice, like the ability to withdraw three times more money and in more denominations. Customers can take out to 3,000 in onedollar bills if they would like. By the end of next year theyll be able to pay mortgage and credit card bills at one of these machines too. We do this because customers are asking for this. They want to be able to bank where they want, when they want, how they want. This machine is allowing us the flexibility to do so. Reporter its not just chase customers. Bank of americas making its machines mobile friendly and citigroups atms may soon scan your iris for identification. The upgrades over the years have made the machines more popular among customers than visiting a teller and cheaper for the bank too. Every teller transaction costs the bank 65 cents. That figure drops to 8 cents at an atm, 3 cents on your mobile device. Of course theres also a competitive aspect too. Banks dont want to look behind the times and customers want those bells and whistles. The banks have to of course invest to make these changes to their atms. They say its worth every penny. I love doing everything on my phone with my bank as much as i can. But i always do wonder in the back of my mind, how secure is it . The banks will say its more secure. Oftentimes if you do lose your atm card youre frequently also losing your license. Many peoples pin codes are related to their address or birthday so its fairly easy for someone to figure out that code and actually access your account. They dont like to say that. But it is a little bit more risky than if you were to use your phone. Because you have to log into the chase app and then it sends you a unique code to enter into the atm. You need dual authentication for that. Thats not something that you are required to have with a card. For the biometrics stuff, no one can impersonate your iris, your fingerprint. So that is something that is very unique just to you. I think a lot of people are going to be using it. Its great technology. It makes life simpler. Thats the name of the game, what people are after these days. Thanks so much. Thats the show for today. Im sharon epperson. Thanks so much for joining me. Next week becky will be back and well take you to the toy fair for the newest, coolest toys kids dont even know they want yet. Keep it here, we are on the money. Have a great one, see you next weekend. Hi there, were live at the nasdaq after this expiration friday. The guys will make sense and try to make you some money. While they are getting ready, heres whats coming up. I loved it. And so have traders who have been feasting on trashy beaten down stocks, but is the feast about to end . Well explain and give you the trade. Plus trouble on the home front . I just want to smash your face in. Smash my face. Not that type of trouble, talking about home depot because traders see disturbing patterns emerging ahead of next weeks earnings and weve got the trade. And rocket man the original rocket man

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