Transcripts For FBC MONEY With Melissa Francis 20130125

Buying program, but some are expected to hear more debate about the timing of when to pull back and sell off the portfolio. The minutes from the previous meeting revealed some members wanted to end the program early, and that sparked a market selloff. 2 15 on wednesday, david. Have a wonderful weekend. Heres praying for apple stock, everybody. Money is next. Melissa heres whats money tonight. Tim guy near geithner out the door, and president obama said he was one of the best ever. We have his report card and whether jack lew can do better. May be the end of the union as membership plunges to a 97year low. There could be one thing to save the union. We have the former chief here to explain, and theres swatting and mansion swatting. A brazillian man just moved himself into a 7500 square foot palace in florida, and legal loopholes could let him keep it for good. You wont believe the story. Even when they say its not, its always about money. We start by saying goodbye to tim geithner and his reign as treasury secretary, hanging up his hat after four years on the job, people questioning what side he was on, a wall street crony, a washington insider. Did he do right by the banks or the American People . What do we have to look forward to with his successor, jack lew . Money power panel is here to see if he made the grades. Penny, a member of the fix the Debt Committee and a former minnesota congressman. Susan worked under geithner at the treasury department, now a senior fellow with the aspen institute, and steven haste, a writer. A lot of seniors here today. Welcome, everyone. Susan, starting with you, an f; right . You walked by the guy. Trash your boss. Let it rip. An a, he leaves it on the field, stood up so many times in taking courageous stances against political will. You know, i was managing the t. A. R. P. Office for a period of time, and he stuck with us when it was not politically popular. There was a time he could have shut it down, and he said, you know, were not there yet, the American Economy is nos recovered, worried about the credit, and we kept it going, a real testament to him and his moral leadership on this. Melissa steve, are you that gracious . No, i wouldnt be that gracious. I give him a d melissa oh, oh, a d a generous d, and i see what sigh san is saying in that i think the strength was he was more an ideolog, a strength, but he has to answer for the dramatically escalating debt that took place while he was treasury secretary. The fact that the president didnt take it very seriously, and then his comment to paul ryan i thought was a telling one saying to paul ryan we dont have a definitive solution to the problem, but we dont like yours. You got to have solutions if youre the secretary of treasury. Melissa tim, what do you think . Can you cut it in the middle. We have an a and a d, what do you give him . Actually, i feel right in the best place. I give him a cplus, better than average, better than average. He had a tough job over the last four years, and im not sure anybody could have scored an an, even though my colleagues think so. At the start, he didnt start well or end well. The stimulus package at the beginning of the administration was largely untargetted and unproductive, and didnt really help us. Melissa is that really something that he designs . I feel like you give the president a d or f for that. Hes just carrying out the policy. Part of the team, but he was not effective in convincing the administration that they needed, if they were going to deficit spend in order to bridge us through the recession, they should have put a far larger share of that on infrastructure because that would have built us a stronger economy in the future. Instead, they spent a lot of the onetime stuff that didnt build the economy for the longer term. Ended badly by, i think, Insulting Congress and the public with a fiscal cliff offer on the budget that really other than taxing the rich did nothing to give us deficit reduction or offer accommodations or not entitlement spending thats the longer term debt driver. Melissa susan, talk on the stimulus, how much is directed by him, and how much he had control over or warn what was coming down the road in terms of the bills. What do you think . Theres revisionist history going on with my fellow panelists, i think. Part of the negotiations around the stimulus at that time, republicans wanted even more of the stimulus to be in the form of tax cuts. Onethird was tax and twothirds stimulus. They already didnt like the plan. This was a negotiated solution what we had, and so the idea of putting more money into infrastructure, absolutely, all for it, and tim would have been too 6789 whats the political environment you operate in, and it was not going to happen at that time. Unfortunately, that problem persisted, but if you remember, you know, take yourself back to the fall of 2008, beginning of 2009, and you look at the tenure here. We had gdp contracting at, like, 8 . We were hemorrhaging jobs, and the idea that he didnt pull us back from the brink, i mean, we could have easily melissa he gets create for that, and, steve, maybe you can address this. The problem is the housing mess is what got us into the crisis, and he didnt do anything to deal with fannie and freddie, and i dont know, that was a place where i feel like with his insight in his position, he could have had real leadership. Anything at all. Maybe its back to what he did before that that he didnt want to step up and respond to that, and maybe he didnt have the influence that the president that some people hope he might have. On the tax cuts, with respect to the stimulus, we want tax cuttings that would have been stimlative, not cuts tied to ideological projects that the president and democrats in congressmented. I think they would have been open to more Infrastructure Spending or a higher percentage of spending on infrastructure if the tax cuts had been structured the way republicans thought would be more stimlative. They were not stimlative. And the president , himself, said later of the spending on infrastructure that there were not that many shovel ready jobs. Melissa one place to agree where he was good was everybody argues a friend of the banks or of the average guy, and i think we all think he was an enemy of both, and maybe that was a good thing. I mean, i dont know, what do you think . I would say thats why i place him somewhere in the middle with the cplus because i think in there there was a reasonable balance. Ill give him kudos handling the financial industry and the consumers in that process. Melissa yeah, okay, susan, last word. I would never call him an enemy of both, but helped average hoamples, not homeowners, not all the policies worked, but it was not for lack of trying and spurred lending to the Small Businesses that worked. Melissa a great panel. Ill bring you back together. Thank you so much for coming on. We appreciate it. Thank you. Melissa changing gears, end of unions . You know 400,000 members dropped last year . Overall membership fell to 11. 3 of the work force, lowest level since 1933. We wonder why. Peter, a former chairman. National Labor Relations board. Whats the theory . Why such a big decline . Well, divide it between Public Sector and private sector. Melissa sure. In the Public Sector, there was a drastic decline because of the cuts made by state and local governments. They cut roughly 700,000 jobs m i think thats the principle reason why in the Public Sector it declined, but, alsoing i think youll see an increasing understanding by american citizens that collective bargaining doesnt really make a lot of sense in the Public Sector. I mean, here you have unions using their money and power to elect officials, and then they sit down with the state and local officials to negotiate a collective bargaining package. It doesnt work. Melissa why doesnt it work . Because they get too much. They get wages, benefits, and Pension Plans that the state and local governments cant afford. Melissa still, unions, i mean thats not a reason for dropping from the union. You like the idea they get me great benefits that looks good. I dont think a lot of people believe down the road the reality of it is they will not actually receive that money and those benefits because the tax base doesnt support it. Do people realize that and realize unions are not working in their best interests in i dont think so. No, i think thats a god point, but what was really prior to that, there will be a change in state laws. There is a change. You see, in wisconsin where collective bargaining rights are now limited, and i think youll have that throughout the country, and i think people will support that because, again, there are wages and benefits and pensions that the state and local governments cant afford. The point is a good one, but thats the way i see that. Melissa you know, of course, more right to work states where if you were not compelled to join the union, a lot chose not to. Could be because they thought it was not in their best benefit or couldnt afford it. The average membership fee was 85 5 in 20 11. As soon as you didnt have to be part of a union anymore, people might have said, even if they wanted to, you know what, i just need that money. Well, thats true. I think that in 2012, theres about 1. 8 million jobs that were created, most of those jobs are nonunion jobs, the right to work laws, giving them the opportunity to be a member or not, but also, in my view, because some unions can sap the entrepreneurial spirit out of a company. Rigid work rules, seniority without performance, benefits and wage packages if the employer cant afford it. You see the entrepreneurial spirit in Smaller Companies or companies that are notary public yiewn nonunion versus the unions. Melissa how can they come back . For example, more than half a million white members dropped out of the union rolls last year, but statement, 150,000 latinos join unions. I mean maybe focus on a different demographic . Well, unions will always do well with low income, unskilled jobs, and the reality of that is because they are low skilled. They dont pay as well, and youll have a greater percentage of employers apt to take advantage of their workers, but i dont think thats really the way that unions are going to see a resurgence. I dont know if they will see a resurgence, but one of the ways they can do is to try to have a Different Union model. The current model is a combative one. Modern workers want a cooperative relationship with the employer. In addition, most american unions, unlike, for example, japanese unions, do not put a great deal of emphasis on the need to have a profitable employer. You have to have a profitable employer for jobs. Melissa yeah, no, thats true. The folks at hostess learned that the hard way. Thank you for coming on, appreciate the time. Youre very welcome. Melissa the bulls looking unstoppable now, bullserred by another round of strong earns. S p climbed for the 8th straight session, the longest winning streak since 2004. The dow climbed towards 11 session of the past 12. Nasdaq recovered after being dragged down by apple yesterday. If the government couldnt hammer you with more taxes, think again. States across the country look to hike the gas tax. Brace for impacts there. What do you get when you combine 100 private jets at least, thousands of bottles of wine, and derek jeter . Its not world peace, but the davos World Economic forum. The conference tries to change the world, but is everyone there just to have a good time . I dont know. Well explain. More money straight ahead. [ male announcer ] how do you turn an entrepreneurs dream. Into a scooter that talks to the cloud . Or turn 30million artifacts. Into a hightech masterpiece . Whatever your business challenge, dell has the technology and services to help you solve it. [ male announcer ] to hold a patent that has changed the modern world. Would define you as an innovator. To hold more than one patent of this caliber. Would define you as a true leader. To hold over 80,000. Well, that would make you. The creators of the 2013 mercedesbenz eclass. Quite possibly the most advanced luxury sedan ever. See your authorized mercedesbenz dealer for exceptional offers through mercedesbenz financial services. For exceptional offers i have obligations. Cute tobligations, but obligations. G. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. Melissa according to mastercard, were pumping less gas than years. Could be good news for environmentalists, and more than a dozen states are now looking at ways to make up for the cash. You can bet one way or another, youll foot the bill. Sorting it out, Senior Petroleum analysts, patrick, welcome back to the show. Thanks for coming on. Thank you. Absolutely. Melissa this is turning into a real problem. The mastercard data saying, you know, they were, i think, its back up in the last week or so, but we hit, you know, a historic low in terms of the amount of gas were using. Federal fuel efficiency standards passed last year required by 2025, our cars are almost twice as fuel fighter as they are now. States are in a bind saying, oh, no, less gas, less revenue; right . They are freaking out. Obviously, you highlighted the basis here. A lot of state governments are looking at ways to protect their revenue streams, and theyve seen the streams shrinking, and everybodys looking at ideas. There may not just be one simple answer. Virginia is looking at one type of tax, looking at scales back the gas tax and raising sales taxes. Other ideas are proposed, but there seems to be no shortage of ideas, and you can bet that somethings going to happen with the majority of the states searching for more revenue. Melissa no, its faze nateing to see how different the solutions are. You mentioned virginia, and we had the governor on recently talking about getting rid of the gasoline tax all together in the state which i was ready to, you know, hoot and holler, sounded like a great thing, but shifting to a higher sales tax to replace the revenue because that was rising faster. Other states are trying to raise the gas taxiing the revenue go away, trying to grip on to whatever they can there. I dont know, what do you do yok is more effective . Whats the impact of all it . Go ahead. Theres crafty ideas out there, and motorists need to Pay Attention to whats going on because this is going to effect us in the long run. Now, theres a huge debate, is it fair for governments to charge taxes based on whether or not you drive, how much you drive, whats fair here . Some ideas looked at have to do with gps, tracking the miles driven. Obviously, that stings if you transport things or what have you, and its good for the folks that use mass transit and dont drive at all. Theres so many options on the table, so many states. This is a complex issue. Theres not one state right now with the same gasoline taxes, and some states are low, some states have not increased in 40 years, and look at the price of constructing roads. Somethings going to happen. Melissa yeah, and you tax the things you want to discourage. Thats, like, the basic way the economics works out. If you tax gasoline more, youre so close to the data, you watch this all the time. Will people drive any less . I mean, will they get rid of the revenue they get as it is, or are we at the point where its hard to drive less . Would be hard to drive less. Theres potential they can drive less. They can be more first time or car pool more often, but the higher prices go, the more demand there is forcing people eventually to look at different ideas or force americans to become more fuel efficient can brings us to the huge debate here in the first place. Gas taxes have been so low for this amount of time, but now gas prices are the reason americans are cutting back, and now the governments are looking to catch up with the rising gas prices by instituting more sales tax, gasoline tax, or gps based tax. Ideas are on the table, of course, as we said, and the motive is they need the revenue. Melissa absolutely. Oregon, washington, vermont, wanting to to be in the cars wih you. Tax your miles. Thats spooky. Government in the seat next for you. Thank you. A brutal cold snap in full force. I think i lost two toes to frostbite on the way to work this morning. I have to check that out. Futures, and milder temperatures next weir, wahoo lowering the outlook for gas demand, though. Coming up, oil futures saw a slight loss today, and posted their seventh week gain, longest advantage in four years, and chavezs Health Problem taking a toll on Venezuelas Oil industry credit line. Investments from chinese, india, and Russian Energy Companies Reportedly drying up. Chavez had the fourth cancer related surgery on september 11th, but has not been seen or heard from since then. Coming up on money, the Economic Forum wrapping up, and surprise, surprise, they didnt solve any of the worlds problems. Maybe because it was more like a billionaires frat party. About the over the top excess; plus, a squatter makes his dreams come true. He is living large in an enormous florida mansion. I mean, this place is really nice, a ridiculous law may allow him to keep it. You definitely want to see this one. I think maybe i can learn something from this. You ever have too much money or too many mansions . I dont think so. [ male announcer ] you are a business pro. Omnipotent of opportunity. You know how to mix business. With business. And you. Rent from national. Because only national lets you cose any car in the aisle. And go. You can even take a fullsize or ave. And still pay the midsize price. I could get used to this. [ male announcer ] yes, you could business pro. Yes, you could. Go national. Like a pro. At legalzoom, weve created a better place to handle your legal needs. Maybe you have questions about incorporating a business youd like to start. Or questions about protecting your family with a will or living trust. And youd like to find the right attorney to help guide you along, answer any questions and offer advice. With an a rating from the Better Business bureau legalzoom helps you get personalized and affordable legal protection. In most states, a legal plan attorney is available with every personalized document to answer any questions. Get started at legalzoom. Com today. And now youre protected. Melissa you are looking at beautiful dolls, switzerland. Home to worldclass skiing, luxury hotels, fine dining. The home city of the yearly Economic Forum, an event where the world financial and political elite decide what is best for the rest of us. Delegates can spend hundreds of thousands of dollars to get there. They stay in posh hotels, bob elbows with celebs like derek jeter and shirleys thrown. It sounds good, but does anything actually did that . Is it just like the worlds fanciest tagger . Here to help us figure this one out, united adviser chief market strategist. Hes actually a party expert. What do you think . My reputation precedes me. It think it does. Did they do anything in doubles . Its kind of like the worlds biggest tagger or the best kicker. It really is a matter of just being seen and exchanging handshakes. Nothing does get done. You mentioned it. This is something that goes on every year. Last time i checked there has been a financial crisis ever year. This anything did that . Probably not, but its a fun place to be. Melissa a super awesome ski event. One thing that i love about this is that the big paper and puts the paper that had a time, this whole thing and how we have to spend six to jillion more dollars every year on Climate Change or we will all burst into flames as Something Like that. And at the same time it got me wondering about the Carbon Footprint of double sets of. Trying to check out what a mess it makes. It turns out that more than 100 private jets flew into the Zurich Airport and had to start diverting them to san barrettes because there were too many private planes clogging up the Zurich Airport. It could not fit anymore. If you look at the data it was 12,000 tons of co2 that were admitted. But dont know if its as good for the environment is that would like to think it is. The numbers are pretty scary. Totally contrast. I am sure the people actually love the headaches that it creates. Not many people live there either, so its like a total takeover. Another interesting thing, these days and the way the world is with everybody struggling to get Economic Growth and get their deficits under control the one thing to keep in mind is everybody is very centric these days. The u. S. Problems are not the european problems of the chinese problems with the indian problems. There are a lot of other things going on that each country has to address that is so centrust. How could anybody get anything done because everyone is off after their own policy . Melissa other things that i loved about this, did you know the theme of this years meeting was resilient dynamism . What does that mean . Stay longer. Stay maybe 20 minutes extra in the hot tub. Melissa cant first set but it does appear to do with the dynasty which would be just the wrong message from them. It turns out its about continuing to be dynamic and being resilient and a changing environment. It kind of makes you want to vomit. Maybe it the fact that the dynasty, if you will, i like your take on that. Its more and more crazy and just out of whack. Step. Melissa thank you for coming down and helping me get to the bottom of this. I think we made some progress. Melissa it does like fun. You have to give them that. Thousands and thousands of bottles of wine a good truck, so that something. Thank you for coming on. Have a great weekend. Next on money, have you ever driven by a gorgeous thousand in the living there . One man in florida may that fantasy is reality by squatting in side of waterfront mansion. I mean mansion. A bizarre law may actually let him keep it. Enceinte. A potential game ginger coming in the form of a 14 billion plant in louisiana. One of the men behind it to will explain. Piles of money coming up. At a dry cleaner, we replaced people with a machine. What . Customers didnt like it. So why do banks do it . Hello . Hello . if your bank doesnt let you talk to a real person 24 7, you need an ally. Hello . Ally bank. Your money needs an ally. If your a man with low testosterone, you should know that axiron is here. The only underarm treatment for low t. Thats right, the one you apply to the underarm. Axiron is not for use in women or anyone younger than 18. Axiron can transfer to others through direct contact. Women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these signs and symptoms to your doctor if they occur. Tell your doctor about all medical conditions and medications. Do not use if you have prostate or breast cancer. Serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. See your doctor, and for a 30day free trial, go to axiron. Com. Melissa talk about squatting in style. Andre about buses is a 23 yearold Brazilian National mood can safely say he has one of the nicest pat on the block. He is living the good life. The 7500 sq. Ft. Five bedroom six bathroom waterfront mansion with its two and a half Million Dollars. Its not really is. He is squatting in this palatial home which is vacant because it was foreclosed upon last summer. We could hardly believe this story when we heard it. Here to break it all down, making sure this does not happen , general counsel. Thank you for joining us. This is all predicated. The adverse possession law dates back to English Common law. Back then the purpose was for people to take vacant pieces of land to cultivate them, farm, improve the lands. I cannot imagine that anything like this was over and above process to take a two and a half Million Dollar home and call your own. Absolutely not. Melissa that break down what he did because maybe i want to do it because it is pretty fabulous house. This is a house that was foreclosed upon by bank of america back in july, we think. This guy showed up and he moved in, and he just started living in this fantastic mansion. There you go. July 12. Nobody saw him go in the front door. Apparently he cannot be prosecuted for breaking and entering. He has been leaving there. Police showed up because every neighbors realize there was someone living there. Police show up and he had a document that said that he was living there under the adverse possession law and that he was a squatter and they did not remove them. You understand this . The document that was presented, it is an adverse possession form. All a person has to do under florida law is filiform in all its detail, have it notarized, and they have to submit it to the Property Appraisers Office in the county in which that home is domiciled. Here where we are in our county we get these forms of the time. But the form itself on its face says that it has no legal enforceable significance. Melissa maybe the cap could not read. And not sure. But bank of america the form just melissa this is what i dont get. Bankamerica owns the house. Why dont they get the police and show up and say get out. Wouldnt that be the solution . That is completely the solution. The problem in many situations like this, when its a bank, when its not an actual person, there are many states away, lever division is handling the actual foreclosure of this property is far, far away. They dont know is there. Now that they have been informed , theyre taking legal action, but the owner of property loans that property. They own that property even while one of these forms is filed. We have it here in brouwer county all the time. Now, the interesting thing is the law also says that if the Property Owner pays the taxes for the year after this form is filed, the Property Appraisers Office must remove the form from its record. So then its gone. In brouwer county currently we have 19 cases where forms of been filed against property. Melissa, i have had seven this month alone. Melissa even more when people here about this. If he did somehow managed to stay in the house it would be his house. Other places like arizona, you only have to stay for two years in and its yours. With so many foreclosed properties at think people will look into this. Before they do let me give you to weigh in on our money meter on a scale of one to money, where you think his chances are that he is going to be able to stay in this house and keep it . One. Melissa, if your money mir had negative numbers it would be in00. Keep in mind, they have to pay the property taxes. They have to pay any outstandingly and the property. Its not free. You dont move in and get it. Melissa the property tax in this house is 40,000, and an extra never wants to buy it anyway. Theres a lot going on. Thank you for coming on our show. We appreciate. Here is our money question of the day. Would you ever squad in the house if he needed in a pony . Have a lot of fun with this one. Unfortunately no one is seriously considering it. We want to hear from more of you. Like us on facebook. Follow me on twitter. Sorry. A look of there. So a 14 billion investment is coming to louisiana, and it could prove a revolutionary breakthrough for u. S. Energy production. One of the man behind it stands is to explain at the end of the day its all about money. To grow, we have to boost our social media visibility. More likes. More tweets. So, beginning today, my son brock and his whole team will be our new senior social media strategists. Any questions . Since we make radiator valves wouldnt it be better if we just let fedex help us to expand to new markets . Hmm gotta admit thats better than a few likes. I dont have the door code. Whos that . He won a contest online to be ceo for the day. How am i supposed to run a business here without an office . [ male announcer ] fast, reliable deliveries worldwide. Fedex. [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the Aerospace Industry in the u. S. . At t. Rowe price, we understand the connections of a complex, global economy. Its just one reason over 75 of our mutual funds beat their 10year lipper average. T. Rowe price. Invest with confidence. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ male announcer ] how do you turn an entrepreneurs dream. Into a scooter that talks to the cloud . Or turn 30million artifacts. Into a hightech masterpiece . Whatever your business challenge, dell has the technology and services to help you solve it. Melissa you know, if youre a jersey shore sent and you might think that this stands for jim, tantamount laundry. Actually stands for gas to liquid. It is coming stateside for the first time. Why should you care . Because the companys pending an astonishing 16 21 billion on this believes this is going to change the entire industry. It is happening with louisiana, and that is thanks to 2 billion in state subsidies. Here explain this breakthrough process as long as how it will help our economy is a fast ball Group Executive andrea rader. Thank you for joining us. People have called this a risky plan partially because it is so expensive. Well, we dont think it is that a risky. We have been doing this for the past 60 years. So were confident that technology has proven. We have been running. Essentially identical to what we plan to do in louisiana. That has been running very well, and we are selling price today into the open markets at prices that are not subsidized. Melissa yes. We are excited and confident we can make this work. Melissa i think the risk comes from the fact that, you know, theres a lot of fluctuation in natural gas prices. In the time that i have been covering energy they have gone from 15 to two. We thought there were going to go down and break a dollar. So there is some much fluctuation, and that is the main product you are using. What priced as natural gas have to stay at in order to make this makes sense and how much does diesel have to be . The real issue is not so much the absolute gas price but the multiple between gas and oil price. The technology that we have placed the arbitrage between gas prices and oil prices. Today the multiple, if you look, its about 37. Our project is so economically robust and viable at a multiple as low as 16. So at todays prices we would be in a very profitable situation. Melissa the other thing, europe, the price of diesel is a lot higher. Its a lot harder to get. Here we dont use quite as much diesel. It is used for tracking. You know, do you see that as a problem Going Forward . Do you need more of a conversion . No, we dont. Actually, we feel that the qualities of our products are such in terms of high and selling content, low emissions, effectively at zero sulphate content that it is a really attractive as as stock, often prepared to pay a premium on top of the diesel price in order to get out. Melissa the fundamentals make some sense and the multiples work in the technology is not that tricky, why is it that everybody is not doing it . We are the only guys that have done this for the past 60 years. I want call this the only game in town. The technology itself is not particularly complex. The real skill is in putting this all together and to greater weight and added together with some magic and bliss and that is how we make it work. We have done this. Melissa interesting. We will followup on this. We appreciate your time. Good luck. Thanks for much. Melissa all topped off with a trip to the slammer. A forgotten what it plans this customer in jail. Apparently he has never heard of the dining. You can never have too much money. train horn vo wherever our trains go, the economy comes to life. Norfolk southern. One line, infinite possibilities. I have obligations. Cute tobligations, but obligations. G. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. [ slap ] [ slap slap slap slap ] ow ow [ male announcer ] your Favorite Foods fighting you . Fight back fast with tums. Calciumrich tums starts working so fast youll forget you had heartburn. Tum tum tum tum tums melissa it is time for a little friday fun with spare change. Today we are joined by spare change regulars. Thank you to both of you for doing this on a friday. First up, colorado governor will be running for president in 2016. Currently separated from his wife and says that she offered to stay married to him if he wanted to run for president. As a side nancy is working on writing a new book. Coincidence . This just makes you as cynical as ever teeseven im always happy when someone has the last name my own. I think this is like hillary thing. Theyre only staying together if they can help each other politically. Fadel think teeseven did not want to start with a fight, but i honestly did not think there were many people out there that believe that the clintons would still be together if it was not for politics. I think this is a little bit of that. I agree with that. I had to gloss over that. I do think it is kind of sad for her to come out and say i will stay with you if you run for president. Melissa why are either of them . Why would even admit that . I guess he has to run for president. Melissa why would even say that out loud . Everybody knows it. Everybody does puts it out there. Melissa ago want to confirm it. A fake political couple. Next torrey, talk about a dumb play. Fortynine is running back was fined 10,500 for wearing his socks to low. The championship game. The nfl is calling it failure to conform because the players are required to wear socks i after reached the bottom of their pants. I think hes a fan. The referee may be. The call it a uniform. What is uniform mean . It means everybody looking alike. That is the definition of a uniform. So if you dont conform to the uniform which means everybody he has the right not to be a teammate. He can quit the team if he thinks the uniform does not fit this definition. Melissa come home with a fine. I think its extreme. Issue a warning first, but off the bat, fine the guy 10,000 . Especially with the other things going on in the nfl, and they make a big deal about this . They do have bigger fish to fry. One goes to dinner and ends up with in jail. He had a 200 meal at the steak house, but just as he finished up, he forgot the wallet. Hant that happened to everybody . Hes been to the restaurant numerous times, offered to leave the iphone, take a busboy with him getting the wallet, but instead, they had him arrested issue and he spent the night in jail. I mean, do you think the restaurant overreacted in that is like an understatement. Over reacted . Totally. I would never go to the restaurant god forbid you dpergt and from a marketing stand point, this is terrible. They should have let him leave the iphone. The guys a regular for goodness sakes. This is how you treat the people that frequent your student all the time . I agree with you 100 . Thats terrible publicity. Its going to cost the restaurant more than that 208 they were going to get from the guy. The other steak houses are happy as clams because theres a lot of competitors here. Melissa you get there, and, oh, one time, a toll booth, and i forgot the wallet, on the way just blow through, and i panicked. The next day, same booth, and the woman busted up laughing and says you come here every day, you think you can blow through one day and dont recognize you . She was laughing. Just say you forgot the wallet and paid me today. I said, im sorry. She was much more understanding than smiths. All right, moving on. Who doesnt need this . Its an iphone cup holder. Love it. A dutch Marketing Agency says between Drinking Coffee and texting is a dilemma that causes people to drop their phone or spill their drink. Its true. This is a phone cup holder. Would you buy it . Im always holding my blackberry. What do you think . As an apple shareholder, anything for anything that shows a future because this thing is not out until april 2013. Thats how long it takes to develop the project. We only have the video of it right now, but, again, apple needs every boost it can get right now. Melissa how long . I think april 2013. Melissa i can make that at home. The more publicity we give it, maybe sooner, but, again, apple needs anything. This is one of the things i see on tv, and i wish i had thought of that. Its a great idea. Im one of the people with 8,000 things in my hand all the time. Melissa bedazzle it. The white one will not work. Needs bling. Okay. An iconic one from the 20s, babe ruth and al capone signed the same baseball. Its up for auction. The ball remained in the family until now. The first bid set at 25,000, but its expected to sell for as much as 200. David, what do you think . Whats not to like about this . I mean, al and babe on the same the guy who did this back in 1931, i think, was a genius, passed it on, by the way, its going on through his family, to his daughter, grandchildren, and i would love to have it. What a combination. I think its got to go for more than 200,000. Higher. There are people, i mean, people wanted the gold shirt, remember last time . The gold shirt, and this melissa more value maybe. Well see. Well come back and talk about it. All right. Tom sullivan has something to say about guaranteed pensions which actually are not guaranteed. Its illegal for you and me to mislead the product with a product or service, you knowings truth in advertising, truth in lending so why does the government get to mislead us about our pensions . Actually, fewer and fewer have real pensions. Those who do, they s