Risk. Popular web sites, banks email accounts, online retailers all quite vulnerable. What is being done about it . We will tell you later this hour. First, to sue at the nyse. Good to see you, ty. Stocks making a comeback after a rough few sessions. 16,337. 51. S p up almost half a person. Almost a full person gain in the nasdaq. The biotechs really bouncing back i should have just said rally. Seema mody has a market flash. Leading higher are the biotech. In fact second highs as investors look for bargains after the recent sell offthe etf, among todays big gainers. Celgene, biogen and a nice rebound for the group, sue. Indeed it is, thanks so much, seema. 58 minutes before the fed minutes are released. We have a lot on our place this hour, including two big downgrades by hershey and gm, Morgan Stanley putting gm at underweight. The firm sees the auto cycle as having peaked. The truck segment is under pressure. The analysts also thinks the global Auto Industry is entering a period of Significant Technology disruption. Morgan stanleys price target goes to 33 a share. We are effectively there. Its 33. 79. The stock is already down about 18 year to date. Lets move to hershey. Goldman sachs cutting the Chocolate Company to a sell. The firm says International Momentum will continue, but u. S. Momentum is fading due to competition. The stock is also on a downward trend, off 6 , off 2. 6 in todays trading session. Sara eisen covers the consumers, phil the autos. Your thoughts on the Morgan Stanley move, effectively they were very, very late on this if youre going to cut, were effectively at the 33 price target. Some people say, whats new here . Right. Weve known the Auto Industry is moving into a period where perhaps were at peak sales, close to it here in the United States. The tech disruption factor is one thats been out there for a while, so do you look at General Motors as adam jonas does and say, i dont think these guys are in a position to go anywhere, or do you look at General Motors and say right around 33, 34, eventually they get past the recall crisis, the Auto Industry moves into a new cycle and things pick up from there. He is saying its going to be dead in the water for some time. Others are looking at this and saying sure, but now is the time to buy, so thats how people are looking at this note from Morgan Stanley. Very interesting, phil. Thanks so much. This is a big auction week. Today its the tenyear note up for sail. Rick santelli is tracking the action. 21 billion reopened tens, adding to an issue put forth. The grade charlieplus. Cplus. Im surprised it wasnt former. 2. 72 is the year old, but the bid market was offered at 270 and a half, so they have to back it up. Higher yield, lower price, but the rest of the internals were pretty good. Are chasing every declare of securities available, better than 2. 64 ten auction average. The indirect close to the ten auction average as well as the directs at 15. 2. 40 , 40. 1, actually went to dealers, so cplus auction at a time where a spanish fiveyear is around the same as our fiveyear, we see that the pressure is mounting with some of these spreads. Hard to get a good pricing indication, but well continue to monitor with the 30year tomorrow. Sue, back to you. Okay. Thank you very much, rick. Back to one of our top stories. Sara eisen covers the Great American consumer. Why is gold 3457b sick of hershey . Its chocolate. Priced to perfection was the reason. Hersheys has been one of the darlings of the consumer sector. Its had a few rough weeks, but over the past few years its outperformed other staples and itsen innovating and importantly its had a multiyear beat thats how goldman puts it and says that cycle will come to an end 679 the stock near an alltime high. Its really factors in very High Expectations that goldman says hersheys cant meet. Its important to note this is not the consensus view, in fact jpmorgan also put out a note on hershey say, yeah, this First Quarter might look rough, but in general jpmorgan reiterating the bullish call on hershey. Its a competitive environment, theyve been taking market share and jpmorgan says important lly cocoa prices are starting to go higher and that should help the pricing power, but hey, the warning is its competitive. For instance, nestle has a butterfinger cup thats giving the reeses a run for its money, sue. Yum. Back to seema mody. A strong day for facebook, the stock rebounding from the recent selloff after update beats susquehanna says the First Quarter ad revenue should surpass expectations and suntrust recommends buys the stock ahead of the First Quarter earnings results. The stock had lost more than 15 of the value since hitting a high of 72. 59 on march 11th, the stock up about 5 on todays trade, sue. Thank you. Dominic chu is here with me waiting patiently in the wings to address the broader Large Consumer companies. What it kem down to is earnings season. The question then becomes whether these companies will be able to report earnings robust enough to justify the value wagsz. You heard sarah mention hershey is near alltime highs, or stock market is near alltime highs. The expectations for earnings are not strong. Overall thompson royaltier says Analysts Expect to go up by just 1 over the same time last year. Sales up by a better but till paltry 3 . If you look at the sectors that are going to be the worst and most impacted, Telecom Services and retail discretionary are expected to post strong earnings growth. On the weaker side Energy Materials and financials. Weve talked about 9 low expectations for this earnings season. Is it in the mark, do you think . Thats the interesting part. Others say you have to look beyond the overall season, focus on specific sectors. It will show the stress test, everybody else and whether tapering is having an effect. Thats going to be key. Dom, thanks, well see you a bit later. Ty, up to you. Thank you very much. Were going to talk a bit more about earnings, market and more. Jeff, let me just tart with you. What are you looking for in earnings . And is slow growth or almost no growth in earnings something thats going to be worrisome for stocks . Its a being problem, tyler. Listen, this has been the worst earnings cycle in 5 yea5 years. Were only 20 above the prior peak, and you heard dominic, 1 growth year over year this quarter. Earnings have to be better. Fortunately we think they will. Weather had a big impact on First Quarter profits, but remember usually one third of weatherrelated losses go away, but two thirds is deferred. What were seeing in new orders, a lot of indicators tell us that listen for guidance here on q2, that could be good news. Jerry, what do you say snow how worried should we be . If the earnings arent there, as some point you have to pay the pipe other. Its obviously something people are worried about, probably why we have a pullback here, but i think the step back is to understand the impact the acceleration and revenues will have on bottom lines. While wee focus on the First Quarter and the reports that will come from there, understand that this is a very weak quarter from a seasonal standpoint. As we move into the pentup recovery demand and then ultimately the second half of the year, our suspicion is youre going to have much more surprises on the up side, and what we typically see, and the reference to historical recoveries, those have been periods of time when the cyclical earnings, the industrials, the energy, the consumer discretionaries have all seen very high variable margins, so a small increase in retch generated a. Final quick word, jerry seems to be counting on pentup recovery demand, but if it hasnt come yet, when is it going to come . You seem suspicious of that. I do think it could come in the coming months. Shipping traffic, we get that on a weekly basis, consumer industrial loans are coming back. These are all precursors to the growth that jerry is talking about. Listen, the earnings season itself could be a good pertain for the stock market. 94 of the gains have come during the sixweek earnings season, so look out. That may have been what stocks have been waiting for. Thanks very much, guys. Appreciate it. Would you lend money to greece for five years . Thousands of investors are apparently maybe getting ready to do so. The country of greece is expected to reenter the Capital Markets tomorrow for the first time in four years and two years since their last investor suffered big losses when greece restructured. A lot of questions here, including whats the yield . Should american investors get in . Or is this for institutions . Something the likes of you and i should pass upon . Michelle carusocabrera has been the details. This is a big milestone event, right . The country that started the whole financial crisis being able to borrow again. They hope to borrow 2 to 2. 5 billion euros, the yield is about 5 to 5. 25 , a duration of five years. Junk rating on these bonds, tyler, which brings us to the head scratcher in this. Greeces debt is higher than it was when it restructured. You know how restructures are supposed to work. But that didnt happen with greece. In fact citi points out because . Because they ended up injure borrowing money from ear european governments to pay back the old debt, right . Their debt to gdp sounds like some friends of mine. Greezs debt to gdp is 177 . Still incredibly high, yet this bond tomorrow, only roughly 2. 5 billion worth, theres demand for 11 billion worth of euros. Huge, huge demand. Why would any american even an american institution. Our european. Youve got the currency risk there. Yes. So currency risk, these are denominated in euros, you as an american are buying them in dollars, so you have to worry about what happens about the euro over time. Right. The repayment risk. Could they default. Theres two answers. First of all, what do you get if you get a fiveyear bond from the u. S. Treasury . Not very much. Lets so you a german bond at five years, 0. 65 . Nothing. So the world is yield hungry, a. B, when greece borrowed all that money, the payments stretched out was very far away. They dont have big payments for roughly ten years, but these bonds tomorrow are only five years. So these are super senior to places like the imf and all these other places. Youre going to get paid back sooner. Exactly. Maybe before the next wave hits. Thats the theory. Now, 5. 5 is much, much higher, shows much higher risk than, say germany. At the same time its way down from the 20plus we used toss. Thanks very much, michelle carusocabrera. Sue, down to you. Lets talk more about that. Steven smith is one of the biggest bond managers heading up brandywines portfolio with 50 billion in assets. Nice to have you here, steven. Thank you. What do you make of grease coming to market . Would you put money in those bonds . We have money into pigs, but . Irish, italian and portuguese bonds. We do not buy aaarated securities, but i believe greece will pay off, but its not part of where we are focused. This was oversubscribed as michelle so aptly put it, that the world is yield hungry, but also expected to flip these bonds fairly quickly. If institutions do flip them, would it be a Good Opportunity for the average american investor who maybe wants to add yield and some risk to their portfolio . I think if somebody wants to add yield and risk, greek bonds are probably a good riskadjusted investment. Lets talk about the u. S. Market here. The tenyear note, what is it telling you . We seem to be getting slightly different stories from the stock market and the bond market. Whats your read on the bond market and what its saying right now . Well, what its saying is that i hate to go back to bernankes speech in may, but you basically took the second half of the Business Cycle and repriced bonds. So Interest Rates on say 30year bonds went from 2. 5 to almost 4 . So you just have to go ask yourself, is that a good value . Inflation is falling from 2. 5 to 1, so you actually had a great yield on longterm bonds. We actually bought a lot of longterm bonds. Part of the reason is simply people are worried about the great rotation, but in the First Quarter, the great rotation was into 30year treasuries, and return to almost 9 . And so i just think that youre being paid for, you know, extending maturity because Central Banks have inflation anchored, and the central basics here in the u. S. And europe are worried about deflation. All right. Steven, nice to speak with you. Thanks for engining us today. Steven smith, brandywines global fixedincome. Ty . The dow industrials putting on the ritz. Higher by 36 appoints and s p up seven. When we come back, a new problem for anyone who uses the internet, basically everyone, and it has to do with something called heart bleed, your passwords and login information are vulnerable. Plus Public Pension Fund managers putting wall street to shame. Well introduce you to another one, later this hour. The city behind this topperforming fund houses the only fullscale reproduction of the path non. Three u. S. President s call this state home, and its known as the music city. Can you name the home of this fund . Fund . [ grunting ] im taking off, but, uh, dont worry. Im gonna leave the tv on for you. And if anything happens, dont forget about the new xfinity my account app. You can troubleshoot technical issues here. If you make an appointment, you can check out the status here. You can pay the bill, too. But dont worry about that right now. Okay. How do i look . Thanks. [ male announcer ] troubleshoot, manage appointments, and bill pay from your phone. Introducing the xfinity my account app. Introwelcome back to power lunch. Internet stocks helps boosts, check out the its at session highs. It would been down more than 11 . Now, among individual stock winners, linked in, yahoo , ebay, priceline and pandora, all moving higher. Over to you and tyler. We all know that credit card fraud is expensive, but how much does it cost . Tlr are there are so many but a february report for Javelin Research and strategy says the costs here in the u. S. Rose to 11 billion last year, up from 8 billion in 2012. The survey says that over 8 of u. S. Consumers were impacted. And notarization and mailing of any documents that were needed. Now if card fraud leads to identity theft, the cards could climb. Cost back to keep in mind that they have zero liability when it comes to covering the losses, and limited liability on fraudulent debit card transactions. Merchants and processors bear the losses related to online and purchases over the phone. Card issue serious known as what is bad instore presence. Card issuers will also handle the costs of replacing cards with a card costing anywhere from dr 2 to 10 each to replace and businesses also have to pay for notifying and assisting any impacted customers. Keep in mind those are all business expenses and they all trickle down. The whole topic of the future of payments, is really fascinating the way the world is going. Using your cell phone, paypal, it is, and i think with credit card fraud theres another big cost coming. The chipenabled cards, that could be a billion transaction, so the cost to the business, but eventual the cost of that will be keeping the consumers safe. They have this in europe. They do have it in europe, its pretty much a global standard, you could say weve been late to the game in adopting it here. But visa and mastercard wants these in consumers hands by 2015. Its been called one of the biggest security flaws. Its caused heart bleed, affecting much if not most of the internet, leaving your personal information lease passwords, emails at risk. Jon fortt and natry morris are here to explain just mu have you vulnerable we are and what we can do. Heart bleed is a bug in the code to open ssl. What open ssl is the protocol that web sites use to authenticate themselves to their own servers so they can access information like padwords, secure information that we want very secure. So is this s. Jon, a malicious bug inserted by something or just a flaw . It was probably just a mistake in the way the code was written. The way you know kind of what this is about, you know how when you go to a banking site you see https, theres a lock that appears, thats when youre supposed to be having an encrypted session. Everything that you send back and forth to that servers is not what it means this. Its supposed to be secure, but the problem is they left this lock capable of being picked, because they didnt write the code quite right, so right now a bunch of companies are racing to apply a patch to servers, issue new certificates. Why is it so scary . Its been there since december of 2011. The past two years weve been thinking weve been going inside a secure building when we get on the web, but theres a window open, so were not exactly sure how much its been exploited, so theres not much we can do other than march around the web and demand that our web sites iffics it. Thats up to the i. T. Departments. They know how to fix it. But the trouble is, a, you dont know whether the site you used has been exploited. You have to go out there and search around, plug in the server name to see if i am vulnerable, once you know, you need a notice that they have patched it, then change your passwords. Some company aring taking to twitter or blog posts, buzz thats a lot of worse. Should i log in, and most of us just cant not log in. Change my passwords . Of course youre changing them regularly. Some words for the people who reuse the same passwords, because who would do that . I dont know. Weve been told not to do that for a long time. Appreciate that. Sue, down to you under the circumstances. Ty, coming up. The top public nest eggs, the new power lunch series, when we speak with the under the radar Pension Fund Managers how theyre beating the market big time. Find out where theyre getting great returns. Plus coming up, power pitch, a startup serving meat with a twist. Using ingredients that may surprise you. I think the concept is great. My Biggest Issue was the taste. Will our judges eat it up . We need to work out whether we are in or out on beyond meat. Stay tuned to find out. Tuned t. I tell people its for the climate. The conditions in new york state are great for business. New york is ranked 2 in the nation for new private sector job creation. And now its even better because theyve introduced startup new york dozens of taxfree zones where businesses pay no taxes for ten years. Youll get a warm welcome in the new new york. See if your business qualifies at startupny. Com afghanistan, in 2009. Orbiting the moon in 1971. [ male announcer ] once its earned, usaa Auto Insurance is often handed down from generation to generation. Because it offers a superior level of protection. And because usaas commitment to serve current and former military members and their families is without equal. Begin your legacy. Get an Auto Insurance quote. Usaa. We know what it means to serve. Can you start tomorrow . Yes sir. Alright. Lets share the news tomorrow. Today we failrly busy. Tomorrow were booked solid. We close on the house tomorrow. I want one of these opened up. Because tomorow we go live. Its a day full of promise. And often, that day arrives by train. Big day today . Even bigger one tomorrow. When csx trains move forward, so does the rest of the economy. Csx. How tomorrow moves. With the marx up 80 months on the trading session right now, in terms of is the Dow Jones Industrial average and the nasdaq strong as well, the money is coming out of most of the Precious Metals complex with gold down 3. 30. Silver is off almost 1. 5 . We have almost 0. 75 move to the up side of palladium. Its the market thats becoming that downward trend. Ty . Its a series where we give entrepreneurs 60 seconds to pitch their businesses, or panel of experts decide whether they have what it takes to big the next big thing. We are reinventing meat. We think that meat made from plants is the right way to go. The Meat Industry in the United States is 188 billion market, but its a market at the cross hairs of change, disease epidemics, climate change, natural resource, animal welfare, foot safety concerns and other considerations are putting unprecedented pressure on the sector. The problem is meat tastes great and its been at the center of our plate well before we had plates, but heres the good news. Meat is essentially composed of proteinses lipids and water, all available some the plant kingdom. By using our technology, were able to take protein directly from manse and essentially recreate meat. Weve been featured in forbes, Fortune Fast Company and many others. This year well be in 4,000 stores, beef and chicken directly made from plants . A healthier form of meat that we believe is the future. Hello, everybody. Im mandy drury. On the right side of your screen is ethan brown. He is the ceo of beyond meat. He can hear us, but cant respond yesterday. Wet celebrity chef and restaurant tour curtis stone, the host of top chef masters and recently owns his own restaurant maude in beverly hills, and we also have sheila here. Sheila, what about you . Health and wellness is such a big part of our society. My Biggest Issue was the taste if youre finally going forget a meat eater to try the products, i have to say i was impressed. Unfortunately for me, when i tasted the product, i dont think it does taste like 345e9. Theres a couple of them that do a big better job, a couple fell really short in my humble opinion. Im a natural skeptic. I like tofu separately and like hot dogs, but when you put them together in tofu dogs, i havent found one i like. Lets get into the first questions. Who is your target . When you talk about people with meat substitutes there are sort of two sides, people who are already vegans or vegetarians or people you try to convert. Who are you going after . About 70 million americans today are actively reducing their meat consumption, so theyre not cutting out meat entirely, but once or twice a week theyre deciding this meal im going tore a plantbased, its the broader 70 million folks we are after. Sheila . One of the big issue with his Food Products is how do you get distribution on very, very crowded grocery shelves . We launched the retail packs in whole foods. This year in about 4,000 stores, at target in september, safeway in may, in publix, and others. Talk to me about the dollars and cents. Number one how much written do you make and are you profitable . As a private company we dont talk about those things, but we are growing very fast. Theres about 188 billion meat market. You see consumers at a rate of about 1 per year, theres a massive trend under way. Curtis, jump in. Lets talk about the ingredients that you use in the products. Using protein isolate, potassium chloride. Theres a lot of questionable ingredients there. There is a small percentage of the population that, you know, are constantly looking at and suggesting things tharthar in fact healthy for us are not. Just because its not a long word doesnt mean its not healthy. Im waiting to the day that somebody doesnt drink water because theres too much highs roe gen in it. Folks like curtis will make a lot of money by saying so tell me about titanium diobjection i had. Its naturally occurring. Its a mineral. Okay. Are you planning to go offshore . Yeah, were going to china in about a month. We are talking about some of the major meat providers there. We heard what ethan this to say, we have to work out whether we are in or out. Sheila, what about you . My biggest concern was the taste, would you really be able to convince other people that it tasted like meat. I tasted it, i was sold, i think its on point, on trend. Im in. Curtis, what about you . Did he manage to convince you . After one consumer or the other, thats the existing vegan veg tear matter or the meat eating market that youre going to try to convince. Youve told me its the latter. For that reason i think the product needs to mimic the flavor of food. Unfortunately i disagree that it does taste as good or even clo el to as good as natural meat products, so unfortunately im out. I thought it tasted like meat, i was very impressed. Im in on the flavor. I wanted to hear more about their plan. I liked the fact that you go over to china. I wish you the best of luck. If you can tap that market, thats a coup. At this stage im in. How do you feel . There are some chefs that embrace it. Alton brown, mark bittman loves the product, we wont win everyone, thats okay, we wont need to. Thats todays power pitch. All right, folks, you heard what the panel had to say on the start startup. We want to know what you think . Are you in or out on beyond meat . Logon and leave a comment or you can following the conversation on twitter with the powerpitch. Seema . What goes up must come down, utility stocks which had been a big winner, giving back some of the gains as investors look to the biotechs and other beatendown sectors, utility index now at session lows. Pep ko, firstenergy, pc e, duke energy, excelen all to the doirch side. Thanks, seema. Rick santelli, i had one trader say we were approaching on the tenyear yield. What do you see . The death cross, all these dimpt movie and average scenarios are all important. So, to that end, look at intraday, we spiked a bit at 1 00 p. M. It was an auction, it wasnt a great auction, but an auction. We are moving a bit higher. Were kind of trading at or slightly above yesterdays high yields, but here as the chart that matters. Moving averages aside, february 1st, were in a range. Now its broadening a bit, and you can see that on the correlation trade with the dollar yen, its broadening a bit, too. At in the point in time, it certainly seems like 260 to 280 is a bet you want to take in terms of staying in that range. Tyler, back to you. American student debt crisis trillion dollar problem and growing, one east coast law school now slashing tuition. Smart move . Desperate move . What does it say about our Education System . Were counting down to the fed minutes at the top of the hour. Plus the city behind the home is home to the headquarters of dollar general. It was voted number five on forbes best places for business and careers in 2013. And Academy Award winner Nicole Kidman has a home in this city. Can you name the city behind it thomperforming public fund . Power lunch is back in two minutes. Minutes. Up. A short word thats a tall order. Up your game. Up the ante. And if you stumble, you get back up. Up isnt easy, and we ought to know. Were in the business of up. Everyday delta flies a quarter of Million People while investing billions improving everything from booking to baggage claim. Were raising the bar on flying and tomorrow we will up it yet again. This week weve been taking a look at the Top Investment strategies. Its part 3 of our series top public nest eggs and we focus on the nashville and Davidson County metropolitan benefit trust funt. Its number 7 on morningstars list of the Top Performing state and city Pension Funds with a return of 18. 3 . Bahdi is the chief investment officer. Nice to have you here. Appreciate it. Appreciate the visit. Youre based in nashville, but youre here in new york city looking for Fund Managers, which i find kind of curious, because im sure there are a lot of capable Fund Managers closer to home for you. What brings you to new york . We do have institutional managers in nashville. One comes to mind, courage capital, but for the most part, new york has hundreds and hundreds of managers. So this week im up here for the annual conference, a day meeting, and so around that i scheduled about 12 with potential manager and some existing managers to review strategies. You have some interesting strategies. You moved out of fixed income several years before some other Fund Managers did you see moved into edgeities. What made you make that early move . It was clear in 09 that fixed income was going to do well. We wrote that for about three years. We realize quantitative easing eventually has to end and the down side to that. We also diversified among three strategies to adjust for the potential right in rates. We used tli strategies that have done well. That was able to exceed our benchmark by 390 basis points, just by making that move. We also like debt on the assets. Theyve been lending less and less to basically reduce the size, weve seen opportunities to lend opportunities. We broading it to do credit, infrastructure, energy and real estate. And a fairly Significant International exposure. Of that, a significant portion is in emerging markets, which is different from what weve seen from some of the other managers . Yeah. We are slightly above what a benchmark would indicate, but were using in strategies that are not benchmark constrained. I think we have to look beyond the benchmark. That tends to be heavy with exporters, minerals, so on, so we focused on consumers strategies, and we did well, put them in place, and the market came down, so now were back to about flat from when we started. This year has not, obviously been as easy a year in equities as last year was. One of the issues is people are talking about high frequency. Whether or not it helps the system or whether it adds costs. I dont know how much you trade, because you do have so many different alternate asset classes, do you worry about hft . Of course, its hft and other things that go along with that. The market has to be healthy. The whole business is built on the idea that they are building technological advantage. This is not healthy. I think as flash points out, what you have here is a brokers that are selling their flow signing multimillion deal contracts, thats why customers can trade for 7 trades in their brokerage accounts. The money is being made off of them in a backhanded way, and that is not what the market is supposed to be about. I hope that changes eventually. Its amazing Michael Lewis writes a book and all of a sudden things might change. Between Michael Lewis and cnbc, well see what happens. Ive got my moan on you. Thank you so much. I appreciate it. Thank you. Good luck in new york this week. Ty back up to you stay tuned debt crisis, one wellknown east coast law school now slashing tuition. Is it a good move or desperate one . The dean of that school will join us, next. Join us, next. Hi, are we still on for tomorrow . Tomorrow. Quick look at the weather. Nice day, beautiful tomorrow. Tomorrow is full of promise. We can come back tomorrrow. And we promise to keep it that way. Driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel. What a day. Cant wait til tomorrow. So ally bank has a that wont trap me in a rate. Thats correct. Cause im really nervous about getting trapped. Whys that . Uh, mark . Go get help i have my reasons. Look, you dont have to feel trapped with our raise your rate cd. If our rate on this cd goes up, yours can too. Oh that sounds nice. Dont feel trapped with the ally raise your rate cd. Ally bank. Your money needs an ally. Welcome back. Check on you these shares, the Company Expected better than expected Fourth Quarter profit. By it said it expects to spend up to almost double the previous forecast to increase capacity at a mexican brewery, hurting the fullyear profit and cash flow. Investors not happy, the stock down about 3. 2 today. Sue, over to you. Thanks so much, seema. The College Debt Crisis in the u. S. Now reaching over 1 drill onand it is growing. Here on the east coast Brooklyn Law School recently announcing it will be cutting its tuition by 15 next year. Whats behind the change . Why do it right now . Here with me at post 9 is Brooklyn Law School dean nick allard, and ellie mistal joining the conversation as well. Dean allard, let me start with you. Brooklyn law school has been cutting edge. You have made a lot of changes to your curriculum to give advantages to students that might not otherwise have them. Why did you make the 15 tuition cut right now . Sue, thanks for having us. This is a very Important National topic, as you mentioned. The reasons are really simple. Its educationally sound, its Good Business, and its just. We have a National Problem of people being unable to go to law school who are highly qualified and motivated. The problem continues, if they attend, they often graduate with excruciating debt and then unable to pursue jobs where they are well qualified for and can do good. One of the reason you were able to do this is you have a strong balance sheet. Correct. Youve sold some of your hard assets like real estate, things like that. So your bottom line is Strong Enough to be able to support a 15 tuition cut, correct . Absolutely correct. Thats what we did. We strengthened our very sound economic platform. We were able to dispose of real estate we didnt need because we have new very highquality Residential Property which we provide Affordable Housing to our students and made other changes including cost reductions. Ty . Ellie, how do you react . If i were to tell you the law school is cutting tuition by 15 , do you think, as the dean said, Good Business or desperate business . Why cant it be both . At some level this is great news. More law schools need to be doing this. I think dean allard is right, its unjust to have students graduating with this kind of crushing debt. The other side of it, the business side of it is that Law School Applications are near alltime lows, the Conference Im at in seattle were talking about how even this year well see another net reduction in the amount of people going to law school. Whats happening is people simply cant afford the education, i think its Good Business for all law schools who are concerned about actually having students attend. Dean, you have also added more initiatives so that students who may need financial help, but may not have the gpa, they still can go to law school and choose the type of law they want to practice when they get ute rather than perhaps the type of law that they might not embrace fully, but it pays more, and theyve got the student debt, so they have to go into an area of law that perhaps is not their preference. Thats right, i must say elie, looking very dapper, looking like the downtown lawyer you used to be. Good to see you doing so well over there. Life must be good on the other side. But in any event. Its absolutely right. Weve tried to put a package together, but i dont want to overstate what weve done. Weve taken a significant step, but a lot more has to be done. Every law school dean, every law school, every family with somebody considering going to law school pricing themselves out of the business. The reason this matters for us is because lawyers are the people who have always stood up for people in the United States. Theyre the ones for architect of economic growth. This might be the heart of business, but lawyers have always been in america the brain of business. Elie, final question, do you expect more law schools to do exactly what Brooklyn Law School is doing . About 40 seconds. I think more law schools will have to. Applications are so low that law schools will have to start competing on price. Dean allard talked about selling off some of the hard assets. Thats a great idea. I think theyll have to look at cutting salaries. All right. Gentlemen, thank you so much. Elie, good to see you. Dean, please come back and visit soon. You think gm has problems, toyota announcing the second biggest recall ever, millions of cars around the world, a slew of problems. Well have the details in this recall mad world. Recall mad wor. [ male announcer ] when fixed income experts. Work with equity experts. Who work with regional experts. Thats when expertise happens. Mfs. Because there is no expertise without collaboration. Mfs. Geico motorcycle. See how much you could save. Those little Cialis Tadalafil for daily use helps you be Ready Anytime the moment is right. Cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a free 30tablet trial. These days, everything is done on the internet. And tomorrow youll do even more. Thats what comcast business was built for. Slow dsl from the phone company was built for stuff like this. Switch to comcast business internet. Then add voice and tv for just 34. 90 more per month. And youll be ready for tomorrow today. Comcast business. Built for business. Total recall, folks. Toyota recalling more than 6 million vehicles worldwide, a variety of problems that span nearly 30 middles, no injuries or crashes have been reported relating to these particular recalls, but there have been two fires connected to defective engine starters, 2 million of the cars and vehicles are in the u. S. , the others are in japan and europe, sue. A busy day up ahead here . Absolutely, it sure is, ty. That will do it for us on power lunch. Whats coming up next is street signs. Well see you tomorrow. Hey there, guys, hold on to your seats and get into your seats early. We have a glimpse into the inner workings. Watch for the market moves as well. Were also talking prices of beef, lime and honey, and this is huge, we have paul stanley from the rock band kiss. Were all very, very excited. It all begins after this quick break. Get your seats early, guys. See you then. In 1953. Koa afghanistan, in 2009. Orbiting the moon in 1971. [ male announcer ] once its earned, usaa Auto Insurance is often handed down from generation to generation. Because it offers a superior level of protection. And because usaas commitment to serve current and former military members and their families is without equal. Begin your legacy. Get an Auto Insurance quote. Usaa. We know what it means to serve. Maestro of project management. Baron of the buildout. You need a permit. To be this awesome. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. And only national is ranked highest in car rental Customer Satisfaction by j. D. Power. aaron purrrfect. vo meeeow, business pro. Meeeow. Go national. Go like a pro. Cut [bell rings] this. Is jane. Her long day on set starts with shoulder pain. And a choice take 6 tylenol in a day which is 2 aleve for. All day relief. Hmm. [bell ring] roll sound action . Welcome to street signs we are minutes away from the fed minutes. If you dont think it matters, look at this. The s p 500 has finished down 70 of the time on the days the minutes are released. The lead today, we also see a drop after these fed minutes come out, mandy. That is the question. In the meantime lets get straight to Steve Liesman with those minutes. Mandy, thanks very much. The Federal Reserve held a special meeting we didnt know about to discuss forward guidance. They generally agreed on drop that 6. 5 , calling it outdated. That leads to the regular meeting when they decided to reto go to quail at a timive or language that would describe it. Shifting gears, remember at the meeting and the statement came out there was a spoof ma maybe the fed had turned more hawkish. The fed was concerned about this at the meeting. Some participants were concerned the fomc statement says the