This is on the kmoney, your money, your life, your future. Now, becky quick. We begin with a story of courage. Jonathan silversteen spent time creating new drugs to cure Rare Diseases this weeks cover story is race for a cure making smart bets on potential new medicines is how Health Care Venture capitalist built a 20 year career the stakes just got a lot more personal. It wasnt until i saw a Movement Specialist i had a slight tremor in my left leg that he was able to put it together and say these are symptoms of park insons disease. He has a genetic form of the disease, like for other forms of parkinsons there are no drugs approved to cure it or slow its course jonathan and his wife natalie decided to take action. Given the fact that jonathan works in this space, were sort of uniquely positioned to potentially make a difference. They foundeded silverstein foundation. I sent out 1,000 letters to venture capitalists and ceos and hospitals and Research Labs and they came back with literally dozens of ideas. Hes been traveling the world meeting with researchers and donating blood and tissue and stem cells. Got a letter from mike in ohio, sent me a check for 18 and he said ive got parkinsons with uba lets get it done. That is as good motivation as anything silverstein knows firsthand how difficult Drug Development is but helped fuel advancement of medicines before. Ive seen miracles happen and now ive got to create another miracle. Already jonathan made strides raising 6 million and founding a company and in the notoriously slow world of Drug Development, moving at lightning speed. For more on this were joined by jonathan and natalie, cofounders of the silverstein foundation, thank you both for being here. Thanks, appreciate it. Lets talk about your story you found out about this diagnosis about six months ago. Thats right. Was it a complete surprise and what did you do first . We have no family members that have parkinsons. It was a complete surprise we said a 501 c 3 and got a tax i. D. Number and website and put together a Scientific Advisory board of the worlds experts in Drug Development and Drug Discovery and reached out to about 1,000 different institutions and individuals that we thought could be helpful. Then we started reviewing those opportunities and we really bucketed those into nine different areas, gene therapy, gene editinging, immunology and cell therapy and which areas make more sense to go after first. And gene therapy and buy logics. A lot of people have thrown into into the space, trying to find things. Many are disappointed. Whats different about this . Weve learned a lot about the mistakes from the past and understand more about the disease than we ever have, its a genetic disease. And i think that we havent taken some of the approaches that we are taking now never been a gene therapy approach going after gba, replacement approach after gba we think these are really smart ideas and targets are addressable. Natalie, when you first heard about this and what youve done since then, whats the response youve gotten from the community and starting the foundation . Obviously when you tell family and friends this is happening were a young family and part of a Large Community so we just the response has been sort of overwhelming but whats incredible is you put yourself out there with Something Like this and people that you dont know come out of the wood work, there have been people reaching out offering ideas, offering support. I think whats really great and what i try and tell my kids, when you help other people, you help yourself. Were doing this not just to find a cure for jonathan but hopefully for everyone with parkinsons, maybe a different form of parkinsons, some of the work they are doing may be applicable to other forms. Its exciting and motivating to get up and know you have something positive to work on. You mentioned that there are so many different types of parkinsons for people who arent familiar with it. What are the causes and types . To oversimplify things there are genetic forms like gba, what i have, 5 of the population, lrrk 2, a lot of Research Going on. Also genetic . Yes, 6 of the population the rest of it is sporadic or idiopathic, parkinsons, we dont fully appreciate why people get those, a lot of farmers get it with exposure to insect sides the most clear thing we know now in the genetic form, you can appreciate the targets a little bit better than you can in the more sporadic or i hdiopathic forms. Youve created miracles before found miracles before, youre working at light ning speed what is the best case and sir toshio for how quickly something could get resolved the best case scenario, create four different Biotech Companies and my hope is to get two different drugs into human Clinical Trial next year if those are successful, well be able to open up to larger clinical studies. That sounds like a long process for those going through that but thats incredibly quick for getting fda approval and human trials. One of the beauties ever being in venture capitals, you make a lot of friends and they are willing to help giving their money and time and resources and introductions to other people. So with the support of so many different people from the industry, the light has been shown on this field and people want a result thats going to be positive. And thats what we are hoping for everyone too we thank you both for sharing your story with us today. Thank you. Its wonderful to see a plan of action seeing how something can come about we really appreciate both of your time today. Thank you for having us. Folks, by the way, for more information on parkinsons and go to the silverstein foundation, check it out silverstein foundation. Org thanks again to jonathan and natalie. Now heres a look at whats making news as we head into a new week minutes from the federal reserves open Market Committee in july were released this week. They show that the janet yellen led fed is not likely to raise rates soon members were concerned about a lack of inflation and wanted to make sure it was temporary before they raise rates again. The fed held rates steady at the last meeting which are low by historical measures. All of that sent markets higher on wednesday but the dow fell more than 275 points for the second worst day of the year on thursday after the terrorist attack in barcelona. The nasdaq and s p 500 fell on that news as well. Stocks continued down on friday. Americans were busy shopping last month retail sales climbed 0. 6 , biggest increase in seven months, cars and Construction Materials and shopped Online Retail sales are closely watched because consumers make up two thirds of the u. S. Company up next, countdown to the eclipse. Whos cashing in on the big spectacle in the sky later, if aging parents need to be close to home but living in the same house is too close, maybe a granny pod is the answer heres the stock market end of the week it is wood stock for star gazers on monday part of the United States will fall under the path of the total Solar Eclipse it will darken from oregon to South Carolina about a stretch of land 70 miles wide known as the path of totality a its something thats really going to happen. During the eclipse the moon will cover the sun moving 1500 miles an hour and seen as a partial eclipse outside of the prime viewing area if you miss it, you can mark your calendar for april of 2024, the next one that take place over the United States millions of traveling great distances to get a front row seat and has many businesses over the moon. Get it eric is here with more on this eric, this is something that if you want to get there, a lot of people have to get there using arlss, are they making money on this. Youre looking at 400 increases in bookings to a lot of locations along the path and 400 increase in prices of bookings a lot of demand to get there but its trains, amtrak sold out within one day to have a customized eclipsed following train and avis mentioned the eclipse will be a big driver of earnings in the quarter. All of these transportation messages are seeing a big boost. If you are going to go to one of these areas along the path of totality, you need somewhere to stay. A lot of these hotels and we talked to Big Companies like hilton, all out of rooms at this point. If you want a room, its going to be really expensive air bnb, a lot of people sold out their spaces for a lot of money. If you want to go somewhere interesting, hip camp. Com, you can rent out the farmland or backyard if you want to stay with a bunch of horses in the middle of near, thats about 400. Thats a real place along the path. Thats cool. In the middle of nowhere, thats 400 bucks. You mentioned that the airline prices were about 400 higher and hotel prices are up is there other gouging taking place . You see it with airlines and hotels and other situations where people are seeing a local motel, where your reservation will get canceled other its a computer glitch and now the price it ten times now there are reports of that. Its not just local businesses making money too, National Brands are out there. National brands are out there. Krispy kreme is doing a big thing. But the big echt seller amazon, anywhere else, its these glasses. You cant look thats for you i brought mine. Good, you wont make me nerd out. This is what you need to look at in the sun. You dont want to look at it with your eyes or do it with just your regular sunglasses. I cant see anything. I cant see anything, if i look at the lights might see a little dot. You cant actually will you able to see the eclipse . I tested it out earlier, if you put a iphone flashlight youll see the tiniest dot. Did you look at the sun with them yet i havent yet. Its raining today. All of the Safety Information and best places to watch if youre not necessary in the path of totality. Im keeping these. You should keep them. Use them on monday. I will, thank you. We appreciate it. Baby boomers may remember the last eclipse in the United States, all the way back in 1979 as those aging boomer parents require more care, living alone is no longer an option but instead of going to a retirement facility, some families are putting whats called a granny pod, a tiny house in the backyard jane wells explains. We have a living Room Dining Room with large windows for light. 67yearold jane baldwin is on the move making a big change. Hows your health high health is perfect now that ive gotten my second hip replaced. She raised a family in wyoming and son is raising a family in Oakland California and she wants to be close to help but not too close. That wouldnt work long term living with my son under the same roof. Instead she built a tiny 400 square foot house in her sons backyard nicknamed a granny pod. The Census Bureau predicts one in five americans will be over the age 65 by 2030 and most will need some sort of assisted care. There isnt enough assisted living to meet demand. Have you figured out where everything is going to go . Not at all. Architects discovered a new niche business, granny pods. Laws in six states allow granny pods but in many cases they have to be temporary structures this one is a permanent one. Because they are so expensive, if its only temporary, it may not be for everyone. If people can age in place and age at home, its much healthier and family is happier but it can be very expensive granny pods can cost anywhere from 100,000 to 250,000 so its youve got to weigh long he havety with it. Carolyn also says they may not be right for a parent with dementia who needs more intensive care these structures may raise your property taxes and then there are the neighbors. In baldwins case i have plenty of storage. Her structure is under 500 square feet so zoning laws did not require neighbor approval. I looked forward to living smaller. I just think all of us but myself in particular, have too much stuff in our lives. On the money, jane wells, Oakland California. Before you put a granny pod in your backyard, check your zoning laws, some are banning them or have square foot requirements that limit the size of the structure they are not just for kids anymonth, deep discounts that go way beyond the traditional back to School Bargains if your pet is peeved when you go on vacation, we have a solution to that problem happy anniversary dinnedarlin im messing up every dish, pot, and plate. To show my love. Tada all this devotion only calls for a little bit of dawn ultra. So concentrated, just one bottle has the grease cleaning power of three. Bottles of this other liquid. A drop of dawn and grease is gone. Try using dawn beyond the sink. Livestreat the airport. E sport binge dvrd shows while painting your toes. On demand laughs during long bubble baths. Tv on every screen is awesome. The Xfinity Stream app. All your tv at home. The most on demand your entire dvr. Top networks. And live sports on the go. Included with xfinity tv. Xfinity, the future of awesome. Back to school means back to School Bargains but you dont need kids to cash in on the sales. Its time to think outside the backpack, adam, thanks for being here. Of course, thanks for having me. I just went out this past week and grabbing School Supplies all over the place but not just there with the sales, why are they putting sales on other things that arent related to back to school . I think the basic idea is that Everyone Needs laptop and back packs not just students, there are a couple of reasons why now is a good time for deals. One, this is a time of year when states do tax holidays, you can save a few dollars that way. If youre not sure where your state has a tax holiday. Google it. Stores that cater to students also cater to families, theyll often have statewide or storewide deals. Its good to take a look remember think back to school even if youre out of school. Exactly. What are things you should be considering if youre thinking about buying well, think about things like mini fridges and microwaves and dorm room stuff. Think like a College Freshman another area is cleaning supplies, a lot of teachers have to buy their own cleaning supplies. We had that on the list this year. So we found our editors found things like vacuum at walmart thats 20 off. I didnt have that on my list what should i hold off on buying and think maybe this isnt the best price as the editor of money, i have to tell you not to buy anything you dont need because its on sale disclaimer there if you want Something Like a really cheap tv youre often better waiting for black friday in november. Otherwise, do your Comparison Shopping and find a good deal. In terms of Comparison Shopping, what are resources if im looking for where the best sale prices are. We point to a few websites like deal news, and check out retailers you like best buy, amazon, bed, bath and beyond. Again if youre thinking like a College Freshman. Exactly. Its great to see you. Of course, thank you. Up next, a look at the news for the week ahead dont leave fluffy or fido behind when you travel, the new way to pamper your pet here are the stories coming up that may impact your money this week. On monday dont forget about the total Solar Eclipse weve been talking about and the philly fed is out with the nonmanufacturing index that measures regional activity in the services sector. On wednesday we get new home sales for july on thursday its the purchasing Managers Index that gives us a little look into the health of the nations Manufacturing Sector and existing home sales for july then on friday, make sure you get out and celebrate, 101 years of the National Park service we treat our pets like family but sometimes we have to leave those family members behind on vacation theres a new alternative part of the growing pet Care Industry for many people, summer means its time to kickback and relax on vacation. And for some repam perred pets it could be an opportunity to do the same in the dog days of summer at pet hotels dogs are given the Royal Treatment and my own oliver had to put the experience to the test. They can be chauffeured to and from the hotel, full beds and flat screen tvs and chefs prepare special meals for the pups and little gym called pant to work off extra treats. Our high end services are booked almost every weekend because theres always that client who wants to make sure their dog gets the very best they could ask for. Summertime is crazy busy for us. At morris animal inn, cats are vacationing in style luxury accommodations including condos and kitty suites. Fee lean guests have have personally cuddle time and nature walks and game time on the ipad. People now are treating their cats more like children. They are seeking out more interactive customized experiences for their pets opposed to leaving them at home. In the past five years, morris animal inn has demand has increased for 40 and 25 in the spring and 10 in the summer months now becky, some of this may seem a little extreme but this segment of the economy continues to grow. Americans spends 66 billion in total on pet care last year including about 6 billion on grooming and boarding for pamperred pets like butters here next year were poised to hit 70 billion, its impressive and continues to grow. Kate, what did your dog think about it and could you get him to go home with you after all of this reporter ollie thought this was very swank he usually stays at my parents house, does not get private chefs and chauffeured to and from the place, he rides in my truck. He did not like the working out on the treadmill that was a little extreme for him. He had a good time but im not sure if well be back. I understand ollies concerns, never fun on the treadmill. Thank you so much. He had fun though. Great folks, that is the show for today. Im becky quick, thanks so much for joining us next week the ways we watch television keep changing, were going to sort out all of the optio options. Have a great one, well see you next weekend one laugh, and hello sensitive bladder. Ring a bell . Then you have to try always discreet. I didnt think protection this thin could work. But the super absorbent core turns liquid to gel. For incredible protection. Snap so its out of sight. And out of mind. Always discreet. For bladder leaks. Ive discovered incredible bladder leak underwear that hugs every curve. Cant tell im wearing it, can you . Always discreet underwear. For bladder leaks. We are live at the Nasdaq Market site on this expiration friday well take a break from politics and talk about, get this, the markets. The guys are getting ready behind me while they are doing that, heres whats coming up on the show go with the perfect storm. Lets not get too dramatic but if youre worried about stocks, well tell you where to hide out plus, deere shares are getting crushed and could spell trouble for another industrial giant well
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