Gerri we begin tonight with finding the perfect bargain. Markets think well fall for anything and you want the best deal when you shop but how do you know youre getting, competenting a good deal with all the creative pricing and sales gimmicks out there. Are you waiting for sales that are not bargains . We have bruce terkel a marketing expert. Markets out there, just like you my friend. You think well fall for anything. What do you think consumers really want . Do they want every day low pricing or want a pricing on sales day . We see enough situation that prove they dont want every day low pricing. They want to feel like theyre getting something special. They feel like theyre smarter, done more research, have more information. Nobody wants to feel like a rube. Nobody wants to feel like a patsy. They all want to feel like they scored. Thrill of the hunt is what theyre looking for. Gerri i see you cite as a example. Jcpenney. Absolutely. Gerri those guys had big sales and bargains. They got rid of it and every day low pricing and things didnt go so well. That somebody say are right. People were excited about what they knew. They had inside track. Saved the flyers. Remember that customer had been trained to look for something special. All of sudden jcpenney came out well give you everyday low pricing that suggested one of two things. Either weve been ripping you off all along, or youve been wasting your time. Youre not as smart as you thought you were. Gerri right. Look i think there was a lot of stuff going on with jcpenney. It wasnt just the change in pricing. It was also what they were selling that i think was so offensive to so many, so many consumers out there. The stores were not in great shape. Lots of issues going on. Right. Gerri bruce, let me say this about that i think there is company out there called walmart that loves everyday low pricing and they made it work for them. Yes, of course. They have. But remember, walmart is one company, one enormous company that is winning the race of low prices. Because really if you stop and think about it, the low price leader means youre racing to the bottom. The best you can ultimately do is give away products for nothing. You have to have economies of scale that walmart has. Gerri they control it. Right. They control the entire vertical drib shun chain. Gerri smart thing. And you know, their bottom line shows that kind of effort. I want to share something with you and the viewers here that drives me nut sow and is what happens when you wait for the best sale. So this is the price evolution of a sweater. Let me show you. Suggested retail price of a sweater christmastime, 50 bucks, right . You see that. That is pretty normal. First markdown price. Maybe yu wait for that. 44. 99. The final discount, oh, my god, getting such a great deal, 21. 99. But, hello, look at what the retailer paid pour this sweater, im not telling you that they only paid 14. 50 for that sweater. The average retail price that they charged when you average all those numbers from the previous screen together, 28 bucks. So, you think youre getting a great deal. Theyre making a ton of dough. These sales make no sense when you really examine them. The sales make sense for a very different reason. What happens here is something called, progressive justification. It is a simply told you the price, you wouldnt pay it. But for example, say a refrigerator gerri wait, wait. This is marketing gimmickry for what these guys do to the prices. It is progressive justification. Gimmickry is one word or you can say it is arithmetic. Either way depends how you look at it. Take a product or refrigerator,hundred bucks. Add in 60 of delivery. Add in tax, 7 and 9 . Gerri on and on it goes. Exactly, all of sudden it is 825 bucks or so. But if they tell you the refrigerator is 699. You hear six, that sound like five, so really not that much. The others things add on, all of sudden you convinced yourself you want the product, then those other addons dont matter that much. Works the other way as well. You know, i think, let me just posit this and see what you say. I dont think consumers are that stupid. I really dont. I think maybe they dont keep track of everything you guys are doing out there. Theyre not watching over your shoulder every day. Theyre not making sure theyre getting ripped off. What do you say . Well i dont agree with the thing about getting ripped off either. Remember, you said what the store paid wholesale. First of all the consumer doesnt have access to that product at that price, at that time. Second of all you have all the costs of store to get consumer there to service them, accept returns. You have to figure all of that into your pricing. So a very smart consumer who pays attention and most importantly is concerned about urgency, can get great prices. But if you have to have it now, which is the great secret of the fashion world, oh look, lapels are wide. Lapels are thin. Gerri okay. Then if you have to have it now, if you want to look in latest look and latest thing you will pay too much. Gerri all right. Sales mavens out there, watch out. Jeff green will join us. He is a retail consultant. Jeff, have you had a chance to listen to any of this nonsense youre talking about. I listened to whole thing. Gerri i dont think consumers are stupid but i may be alone on this panel. Consumers are not stupid but they certainly want a bargain. Gerri yes. People like macys kept us definitely looking for value in shopping for value, and like, your, your last example, we think were getting a deal but yet it is quite a bit above wholesale. Gerri yeah. I think that the marketers are betting on the fact that well fall for anything. What is your advice to consumers . As you look at this, jeff, you know, bruce just said, you have to be patient. You cant be obsessed with getting the latest and greatest and the most edgy, stylish thing. What would you tell people . Youre on the inside. You know what these companies are doing. Both of you. Go right ahead. Well, basically i would say that consumers ought to be patient, but that kind of goes against our grains as americans. We want, what we want, now. And i think thats the big issue. Gerri and bruce, in our quest to find the lowest prices ever, tell us about the internet, isnt it . Well, of course because the internet has democratized pricing and made all pricing information available. Once again, you need to take your time. You need to do your reserve. You need to realize functionally the products are interchangeable. So you have to look for the best deal, based on what will fulfill your needs at the right price. But i still dont think its a matter of consumers being stupid. Not at all. Gerri oh good. I think it is a matters of consumers being emotional. Dale carnegie, said it, an consumer is emotional creature and that is how they respond. Gerri consumers are emotional. Jeff, last word. Jeff, can you hear me . I dont think jeff can hear me . He had problems with us. Thanks for both of you coming on saying such smart things. Jeff and bruce, thank you so much. We want to know what you think, here is our question tonight. Do you prefer sales or everyday low prices. Log on to gerriwillis. Com. Vote on the righthand side of the screen. I will share the results at the end of tonights show. We have some auto updates i want to tell you about right now. The latest on gms recall. The trade journal, automotive news, is telling what General Motors wont. It identified nearly all the fatal crashes linked to that is anything switch recall. Of the crashes the paper identified, eight of 12 deaths occurred before gm allegedly fixed the problem switch in 2006. But as you know there was no recall to fix the switch. Fixes were made on a casebycase basis. In other words, if the company had told consumers at least four deaths could have been avoided. Tragic news. That newfound abundance of caution could behind gms latest headlines. The company he willing dealers to stop selling some 2013 and 2014 chevy cruze cars. No one at gm is saying why. Dealers say stop sale order are routine and are to fix a major safety problem. Toyota is getting back into the recall game too. The auto maker is selling or recalling that is, 119,000 avalon sedans from the 2003 and 2004 model years because the airbagses can deploy anytime. Circuits within the airbag module could be damaged if exposed to other electrical components in the car. Only the minor, one minor injury has been reported. On we go to usps the u. S. Postal service is in the red. That is not stopping its workers from spending taxpayer green. A report from the Washington Examiner exposing Postal Service employees using their Government Credit cards to gamble and pay their bills. With more on this, david williams, the president of taxpayers protection alliance. This is, i have to say a really shocking story. So you wonder why the Postal Service is having so many financial problems . Well, heres your answer. Tell us about whats going on here and what these employees have been doing. Well, this is absolutely amazing and youre right, the Postal Service in the red, not just a little bit in the red, a lot in the red. And now we saw this inspector generals report talking about people using money, taxpayer money to gamble. And in one case, someone withdrew 32,000 from a credit card to gamble at a casino. 32,000. First the employee said, well, i really dont know why it happened. Then she said, oh, i got it confused with my other credit card. Gerri oh. That happens all the time. The Company Credit card, my credit card, i cant tell them apart. Theyre using them to pay their even bills. Theyre going bowling on the taxpayer dime. I mean, its funny but also tragic because it is our money. Its funny and its sad. Weve seen a postmaster general in North Carolina, she padded her travel expenses by about 9500. And we see it for personal use. We see 1,000 in just Walking Around money. Literally this is just cash advance they got, a thousand dollars and they bought personal stuff. Heres the problem is, there are two levels of a problem here. First is upper management. Where were the red flags . If someone is take 32,000 out of an atm or getting that money in cash advance, where are the red flags . We have online banking. We have technology to be able to tell us when these things are happening. Why wasnt the usps alerted to this before the 32,000 was taken out . Gerri nobody is watching. Doesnt it go to management . Doesnt it go to a lack of management and a lack of controls . And if you notice, in this story, they talk about the employees paying back some of the money. Some were suspended. Shifted to other jobs. Gerri i got a great example like that. One employee spent 45,000 of the governments money. She retired. She repaid the theft but what are chances woman is getting a big fat government pension. What about the managers . What about the managers that let this happen . And what is ironic, that credit cards were brought into the federal government to streamline the procurement system so we wouldnt have a 600dollar toilet seat or 400 hammer. Credit cards were suppose to solve the problem, not be the problem. I have not read about any managers taking responsibility for them paying back the money but there has to be multiple levels of responsibility here. Gerri so, people arent fired. They dont lose their jobs. They dont lose their pensions. Hmmm. This any way to run the federal government which were paying for . And should the usps bailed out by taxpayers, david . What do you say . Well, we are going to bay them out, lets be honest. First class mail, less and less of first class mail is going out. Guess what, people using this crazy thing called email. Were not seeing a lot of first class mail. Theyre really struggling. Theyre making good decisions. If you cant stop the easy stuff, if you cant stop someone from withdrawing 32,000 off of a credit card how are you going to address the tougher issues inside the Postal Service . Gerri thats a great question. We have none of the answers. We just have a lot of outrage tonight. Unbelievable. David, thanks for coming on the show. Great to see you. Have a great weekend. Thank you. Gerri well were just Getting Started here. We have got more to come, including an answer to the question how do you do that . In the wake after luggage theft bust, at lax, los angeless airport well help you keep your suitcase and everything in it safe. If you took out home equity lines of credit to get out of the financial crisis, your time may be up. A deadline you need to know about, thats next. [ male announcer ] if youre taking multiple medications, does your mouth often feel dry . A dry mouth can be a side effect of many medications but it can also lead to tooth decay and bad breath. Thats why theres biotene. Available as an oral rinse, toothpaste, spray or gel, biotene can provide soothing relief, and it helps keep your mouth healthy, too. Remember, while your medication is doing you good, a dry mouth isnt. Biotene for people who suffer from dry mouth. A dry mouth isnt. Gunderman group is growing. Getting in a groove. Growth is gratifying. Goal is to grow. Gotta get greater growth. Growth . Growth. I just talked to ups. Theyve got a lot of great ideas. Like smart pick ups. Theyll only show up when you print a label and its automatic. We save time and money. Time . Money . Time and money. Awesome. Awesome awesome awesome awesome awesome awesome awesome all awesome i love logistics. 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. [ male announcer ] a car that is able to see, to calculate, to think and can respond to what it encounters. Even if that means completely stopping itself. Its the stuff of science fiction. Minus the fiction. The 2014 eclass. See your authorized dealer for exceptional offers through mercedesbenz financial services. Gerri if you took out home equity lines of credit during president george w. Bushs second term, that line may be coming due. What should you do now. We have the executive Vice President of auction. Com right now. Great to see you. These home equity loans are reaching end of draw period and they will reset. What will happen to so Many Americans out there. When these home equity lines reset, gerri, one of two things will happen. Either there will be balloon payment due. The borrower has to pay total balance or loans will reset at current market rates. Which mines that for a lot of people, their Monthly Payments will go up by 3 or 400. Gerri ouch. Do you think people will be shocked. Do they know it is coming . I think a home equity line of credit unfortunately goes on back burner until the reset happens. I think there will be sticker shock or payment shock. Really what, anybody with a home equity line need to do right now, is to get in touch with their lender. Find out what the terms really, when this will happen and see what steps they can take to avoid problems. Gerri does this have broader implication . A lot of people could be in the situation. Will it hurt the economy. There are some people that are concerned that this could create a new wave of foreclosures. I tend not to think it is going to be that dramatic. But there are going to be certain number of people who default on the loans, just wont be able to bring them up to current status. Gerri wow. So contact your lender. Make sure understand terms and what is going on so you can be prepared because last thing you want to do find out you owe a ton of dough to pay it right now. Rick, talk a little bit what is going on more broadly in the housing marke ad lot this week w professional investors appear to be getting out of the market. Theyre just not that interested. Why is that . Well, home prices are gone up and for a lot of investors, who are looking to buy foreclosed properties and convert them into rentals. There is no inventory left to buy. We are seeing activity, at auction dotcom. We sell a lost properties to the Institutional Investors but at love them are buying short sales right now. A lot are buying propers at foreclosure actions and they moved into secondary markets where home prices are less expensive and they can get return they need on rentals. Gerri were starting to see that the margins they can take out of the market are not as big as they once were. You would think this would be opportunity for individual homebuyers, maybe even firsttime homebuyers to get into the market. I know a lot of people out there think that is not going to happen. Well, unfortunately im one of those people, gerri. I think there is less competition for firsttime homebuyers as investors back off a little bit, but i dont think that the main reason firsttime home buyers arent buying. Think that 25 to 35yearold age group is having a hard time finding good of paying jobs. A lot are burden with enormous amount of student loan debt. A lot of them simply dont qualify for the new tougher lending standard out there and wont qualify for a loan. So, were going to continue to see lower household formation for next couple of years and a higher percentage of those household that is usual will be rental households as opposed to homebuyers. Gerri rick, i dont think there isnt anything this country that couldnt be solved by a better economy. House something certainly one of those, gerri. Gerri rick, thanks for coming on, great to see you. Thanks for being on the show tonight. Have a good weekend. You too. Gerri later in the show, should a teenage boy who spent house thousands dollars he found in his bank account have to give the money back . Next, workers at lax busted for stealing travelers luggage. How can you keep your belongings safe when you fly . Stay with us. [ male announcer ] when fixed income experts. Work with equity experts. Who work with regional experts. Who work with Portfolio Management experts, thats when expertise happens. Mfs. Because there is no expertise without collaboration. Mfs. When folks in the lower 48 think athey think salmon and energy. A, but the energy bp produces up here creates Something Else as well jobs all over america. Thousands of people here in alaska are working to safely produce more energy. But thats just the start. To produce more from existing wells, we need advanced technology. That means hitech jobs in california and colorado. The oil moves through one of the Worlds Largest pipelines. Maintaining it means manufacturing jobs in the midwest. Then we transport it with 4 stateoftheart, doublehull tankers. Some of the safest, most advanced ships in the world built in san diego with a 1 billion investment. Across the united states, bp supports more than a quarter million jobs. And no Energy Company invests more in the u. S. Than bp. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. But i didnt always watch out for myself. With so much noise about health care, i tuned it all out. With unitedhealthcare, i get information that matters. My individual health profile, not random statistics. They even reward me for addressing my health risks. So im doing fine. But shes still gonna give me a heart attack. Innovations that work for you. Thats health in numbers. Unitedhealthcare. Gerri getting caught redhanded. How a ring of baggage handlers stole heeps of travelers gerri what could be the biggest baggage theft scandal to ever rock lax, look at these pictures. We have actual video of these guys ripping off consumers. These are baggage handlers who are taking stuff, repeatedly stealing items from checked bags that is, amounting to thousands of dollars. Police alleged heist could have gone on for several months before anybody could have caught on. Look at this . How do you make sure your luggage is safe on your next flight . Joining us mark murphy, ceo of travel pulse,. Com. So nice to have you here. Really . Yeah, a lot of shenanigans going on at lax. Gerri so how are they doing this. You know what . They colluded is what we think. Early reports so far they have 25 people that they rounded up. They put under cover police in there. They saw that gerri pictures. Secure areas. They were documenting what they were doing and were in cahoots. The guys would turn around. Take whatever they could get and go out on craigs list and e pay as far as we can tell and sell them to make some money. Gerri so you would find your lou very vuitton bag on craigs list maybe . You know, what dont check a Louis Vuitton bag, right . Gerri wait a minute. I will get you to advice in second. What do you think they got . What were they looking for . What is the most valuable thing. People put jewelry in their bags which i dont get. Electronics theyre putting in. Other highend items. Anything that is expensive take in the carryon bag, unless a liquid that you cant bring in on you have to check. Doesnt make any sense to check those things but they were doing that. Gerri this went on for months . Went on for months. Gerri how is it we dont figure that out . People are complaining. Consumers are up in arms. Millions and millions of bags flow through lax every year. Tens of millions of bags. Youre not talking about tens of millions of bags getting infiltrated. Youre talking about a handful. That is really the challenge. In this case there were so many people up to no good. They were able to get their arms around it. Im sure it happens all over the place. Gerri absolutely. Weve even got a list of airports where this is likely to happen. Number one airport is miami. And then jfk and lax is the top three. So, when you look at those, when you look at those airports, yeah, you got a likelihood something bad might happen with your luggage. Gerri hartsfield which is atlanta and las vegas. Top four, they are just big, big, big. Theyre processing law of numbers. Sometimes you will get the bad apples that that big batch. Thats a challenge. Gerri here is what i want to know. What do i do . How do i protect myself . What are airlines supposed to do . You have the carriage contract. So, what you have to do is you have to look at that that is basically what your ticket says. Gerri carriage contract. Contract of carriage. Which basically says what is the obligations of airlines should they lose your luggage. Not very much. What American Airlines will tell you we rent reimburse you for any electronics, jewelry, nothing that is excluded. What you have to make sure you have is get travel insurance. But also make sure your homeowners gerri travel insurance . I dont want to pay on top of my ticket. Why dont i carry stuff that is valuable. I would that. Never check anything valuable. Cheap bag is 500 bucks. That is more than reimbursement, 400 per bag that the airlines will commit to giving you. Youre not talking about much money coming back to you if you lose it. So homeowners insurance. You own a home . Have homeowners insurance. Have a key. Make sure they cover Something Like that. That way you avoid extra cost of travel insurance. Gerri unbelievable. These people get away with murder. Thefts on rise at lax, up 37 in 2013. Great stuff, mark murphy. Good to see you. Thanks for coming on the show. Wow, dont go to lax. Coming up were looking out for you and your money with more evidence of an uneven playing filed. And next, it is illegal. A teenager gets thousand of dollars accidentally deposited into his accounts and spends it all before the bank find out. So whose money is it anyway . You really love, what would you do . [ woman ] id be a writer. [ man ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . Before those little pieces would get in between my dentures and my gum and it was uncomfortable. [ male announcer ] just a few dabs is clinically proven to seal out more food particles. [ corrine ] super poligrip is part of my life now. Imagine 30,000 magically appears in your bank account and youre not playing mow moply. A georgia teenager did. And after going on the spending spree of a life time, the bank now says it made a mistake, oop. Is that legal and what you should do if the bank does this to you . Joining me now, and fox news legal and list. You have a 16yearold kid who said i came into an inheritance lumped into his account and goes and spends it. Hes a 16yearold kid, thats what a 16yearold kid will do. He thinks he got an inheritance and spending it. The bank says i want the money back, i dont think so. When something is too good to be true, it usually is. Theres a word for this called step by conversion. In other words what does that mean . When you get something that doesnt belong to you hes a kid and didnt know. 31,000 . 31,000, what he needs is a get out of jail free card. Thats my view. Its not a crime. Why isnt it is crime . It is a crime. Errors omissions with bank insurance. The bank will be insured. So theyre going to come after a 16yearold kid for therapist take. He didnt say give me 31,000. They made the mistake. Whenever you get money that doesnt belong to you maybe if youre 35. If you get an overpayment from a bank, a pension, anywhere, you have to give it back. So hes not even 18. Hes not an adult. A 10yearold knows when they get another kids toy to give it back. Im the proud owner of a 16yearold daughter myself pan if i would get this money, i think she would think, theres a payer there. The kid is a knucklehead and i have too my own. Laughter however, its obvious when you get that kind of money it doesnt belong to you and the law requires you give it back. The idea, the bank going, its your fault, we made in mistake. Pay every penny back. Is there a precedent on this . Yes, overpayment, the law is clear, youre supposedded to givsupposed to giveit back. The bank would be on the hook. The last time banks made mistakeses we bailed themselves out. Thats correct. But the truth of the matter [laughter] when you get a statement from the back, if its wrong you get 60 days to correct it. Why didnt the kid say to mom and dad, 30,000 in my accountant they may have said, oh, my gosh but the responsibility is on the bank and it could have been old uncle harold had died and no one told the kid. The bottom line is the kid did not do anything wrong in the sense it was handed to him but he did something wrong when he hand had it. Lawfulfully it was given to him. Lawfulfully, correct. Personal story here and oh, by the way the teenager spend 25,000 like that. When theres a will, theres a way. This happened to me many, many years ago, 3,000 pops up in my account, what do i do . Ago to the bank add say, i dont think this money is mine. Thats what is your legally obligation is. Its not funny but it is your legal obligation. Im sorry to say but it is true. 16yearold, come on. Im torn. I have to say. Hes not of age. Exactly. If this were a full scale adult, 35 or something, but a kid conscience seeing that kind of money, its prom season, i can buy the biggest corsage or car. I would be disappointed in my kids if they just did that. Thats all you would be disappointed for . [laughter] thats how my mom disciplined me. This is too much. Thanks for coming on. Thank you. You were perfectly wonderful. Thank you. And some sad news now for consumers who love gadgets, your local brookstone store may be going away. The store is reportedly getting ready to file bankruptcy. Brookstone is wellknown to many of you as known selling strange gadgets. Its a great place to go to get a gift for somebody who has everyone and were looking at what we think are the whackiest gs. Number five is the pillow remote control, pest for the couch potato in your life and newspaper four, the stamina elyptical trainer and now you can peda pedal aand number thre, stretching multiple fan, the pitch is 98 fan and great for goofing off in the office. Number two, the wireless control spy tank, perfect for your little one considering a career with the nsa and our perm favorite, the happy force because theres nothing more none thats having your fork vibrating to tell you when to stop eating. The vibrating gizmos are too numerous. I like their stuff and this is covering up my ipad here, tweet me at jerrylewisfbn. When we come back, does your North Carolina owfounding oweowy this is the quicksilver cash back card from capital one. Its not the limit your hard earned cash back card. Its not the confused by rotating categories card. Its the nocategorygaming, nolookpassing, clearthelaneim goingupstrong, backboardbreaking, cash back card. This is the quicksilver cash back card from capital one. Unlimited 1. 5 cash back on every purchase, every single day. Ill ask again. Whats in your wallet . My dad has aor afib. Brillation, he has the most common kind. Its not caused by a heart valve problem. Dad, it says your afib puts you at 5 times greater risk of a stroke. Thats why i take my warfarin every day. But it looks like maybe we should ask your doctor about pradaxa. In a clinical trial, pradaxa® Dabigatran Etexilate mesylate . Was proven superior to warfarin at reducing the risk of stroke. And unlike warfarin, with no regular blood tests or dietary restrictions. Hey thanks for calling my doctor. Sure. Pradaxa is not for people with artificial heart valves. Dont stop taking pradaxa without talking to your doctor. Stopping increases your risk of stroke. Ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. Pradaxa can cause serious, sometimes fatal, bleeding. Dont take pradaxa if you have abnormal bleeding or have had a heart valve replaced. Seek immediate medical care for unexpected signs of bleeding, like unusual bruising. Pradaxa may increase your bleeding risk if youre 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners. Or if you have kidney problems, especially if you take certain medicines. Tell your doctors about all medicines you take. Pradaxa side effects include indigestion, stomach pain, upset, or burning. If you or someone you love has afib not caused by a heart valve problem. Ask your doctor about reducing the risk of stroke with pradaxa. Are activists investors, are they cheating the wall street journal reporting their leaking plants to buddies on wall street before disclosing the mistake they will take in a stock. Here is garry of caulbaum. What do you make of this move . Well, look, these activists investors that are doing this, its insider trader for me, enimage callahan shoulunethical. When theres Material Information and theyre acting, thats bad news. These folks are more and more important, some 93 million by activists, theyre becoming a real player in the martial here happened from what i understand theyre leaking this information to bring people over to their side. Theyre short handwriting a stock, they want more people to feel the way they do. Whats wrong with that . Because if somebody is buying up the stock before the material is out to the public, thats the definition of insider trading. Look, theres a lot of great activists out there. I can mention a nelson pelt involved with restaurants and Food Companies and who has done a fabulous job. You had carl icahn gu trying tot something out of apple. What you should look for is anybody acts on somebody where the news is not out there and youre benefiting just a few. Well, heres is my problem with it from a consumers point of view, the buyer of stocks, somebody who wants to retire some day on the money i make from stocks, this information never goes to consumers. Its linked to buddies on wall street, the heavy Fund Managers scratching the back and thats the problem i have with it. Well, thats why they call it inside information and therein lies the big problem. What the regulators look at, do the malignancie masses have a fd when you can buy a stock and a week later its known somebody took an 8 position and it goes up 10 because of that news, that person is benefiting the public doesnt make a dime off it. So the regulators are out to protect the public versus the bad guys. The good news is i dont think at least i dont think its rampant but if theyre looking at it, theyre definitely looking at something. Here are the facts. Announcements are activists investors the stocks rise 2 . Barrish, the stocks fall 3. 8 . So you see the stocks move on this stuff but heres whats happened. The information thats moving the stock might be a report, might be some additional data, might be details that werent previously public. That information given to people, a hands full of folks in the marketplace, they trade on that, ahead of the news breaking fulltime to everybody and they make a ton of dough and you and i are left sitting on our hands wondering what the heck happened. Thats the level Playing Field. Martha stewart went to jail for it. Many with fcc capitol want to jail so the regulators are on to the game. Im a big theyre believer. I want the public to have a Playing Field with the insiders out there. Unfortunately, no matter what on wall street with the greed, theres plenty of bad guys. Hopefully they find them out and get rid of this. Garry, thanks for coming on. You too, thank you. Time now for a look at stories youre clicking on. As we mentioned earlier, General Motors is taking 202013 and 2014 cruise cars off the road and wont say why. They say this is not an unusual move to fix a small problem but it comes a gm deals with a recall of 1. 5 million older cars to fix an ignition switch problem. Shaking off another two day sludge, traders arslump. The sentiments slipping in march as members were less likely to buy cars and homes because of Rising Interest Rates because theyre more optimistic about the economy saying they expect their finances to improve in the year ahead. That is the highest proportions since the recession ended in 2009. And the bad news, it continues for blackberry which reported a huge drop this profits as the Company Looks to get out of the smart phone business and into safety where. John chen is trying to turn around the company after last years failed launch. Those are some of the hot stories on foxbusiness. Com. Forget putting your money into a retirement account, your North Carolina four 401k may owe you money. [ male announcer ] the founder of mercedesbenz once wrote something on a sheet of paper and placed it in his factory for all to see. Four simple words where the meaning has never been lost. The challenge always accepted. And the calling forever answered. Introducing the allnew 2014 sclass. Mercedesbenz. The best or nothing. You systems emerging over employees being overcharged. Could your 401 k breaking news, General Motors is recalling at least 824,000 more vehicles because of those reportedly faulty ignition switches. The recall is being expanded to include model years twiligh 2000 is 1, pontiac, g5 within solstus and sky. More versions dating back to tweet wer2003. Well keep be upds story. From cars to retirement, a group of employees are now suing a Company Called Novant Health saying the company overcharged them by millions of dollars. It was costly 401 K Investments and overpaying providers. Here with more, ricedelman. What happened here. Well, this happened in many, many other departments. Compani. They were giving their employees expensive retail mutual funds, far more expensive than others in the marketplace and the employees recognized this and sued their employer and said you need to give us the money back that we paid in excessive fees . Were seeing this over and over. Great west paid by retirement mans, 8. 6 million. Thisappens over a long period of time and frankly consumers look at the fees theyre being charged and dont realize how big they are. They think 1 is not very much money, but if you have that money over 30 years, its a lot of dough. According to the department of labor, that 1 fee per year for your working career can cut your retirement balance by 28 . Whoa were talking hundreds of thousands of dollars per employee, and the wall street machine has gotten away with this no decades and this is c so many lawsuits are flying and worker have won to my knowledge every lawsuit so far. Wow, thats impressive. So what people dont realize is the huge pot of money out there. So the money in worker retirement accounts across the country, 5 trillion. You know, think about this, you take just a little bit of that and it adds up to a lot. It sure does and the worst part most employees dont realize theyre being charged any fees at all. Aerp did a study and 65 of workers veered said that they thought they werent paying any fees. Thats because the fees dont show up on your statement every quarter. So if a fee doesnt show up on your statement, the people figure there must not be a pee. Maybe my boss is paying. Thats not what is happening. Its a tragedy. Tell us how to figure out what the fees are. Its simple. You can just ask your employer. Ask your Hr Department or planned provider, give me a list of the vest investments and shoe the fee. Its easy to find out. The fee should be under 1 per year. Many would argue it should be under one half of under 1 per area. If your funds is chargings is or 1. 5 a area, go to your boss and complain. Your boss has the incentive to cooperate. Can you get anywhere doing that . Yes, because many cases, employers dont even know this is happening. Your boss is not the perpetrator here. Your boss is as clueless as you are. They just want to hire a company, like a mutual funds firm or somebody else, have them provide the 401 k and go about your business. The boss doesnt know and the boss will be equally shocked. They dont realize they have a fiduciary position to fix it. Theyll be happy to fix it. Whose responsibility is it at the end of the day to make sure were getting a fair deal . At the regulatory level, the department of labor. At the corporate level, its the Hr Department, General Council and chief executive officer and individual level, you and me. Its our money. Ric, thank you for bringing this information, taking this to school and whats an important consumer right and obligation. Thank you for being on the show. Appreciate your time. My pleasure. Thank you. And well be right back with my two cents more and the answer to our question of the day, do you prefer sales or everyday low prices . Day with us. 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. Gundyes n group is a go. Not just a start up. An upstart. Gotta get going. Gotta be good. Good . Good. Growth is the goal. How do we do that . I talked to ups. Theyll help us out. New technology. Smart advice. We focus on the business and they take care of the logistics. Ups . Good going. We get good. Thats great. Great. Great. Great. Great. Great. Great. Great. Great. all great i love logistics. When folks in the lower 48 think athey think salmon and energy. A, but the energy bp produces up here creates Something Else as well jobs all over america. Thousands of people here in alaska are working to safely produce more energy. But thats just the start. To produce more from existing wells, we need advanced technology. That means hitech jobs in california and colorado. The oil moves through one of the Worlds Largest pipelines. Maintaining it means manufacturing jobs in the midwest. Then we transport it with 4 stateoftheart, doublehull tankers. Some of the safest, most advanced ships in the world built in san diego with a 1 billion investment. Across the united states, bp supports more than a quarter million jobs. And no Energy Company invests more in the u. S. Than bp. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. [ male announcer ] when fixed income experts. Work with equity experts. Who work with regional experts. Who work with Portfolio Management experts, thats when expertise happens. Mfs. Because there is no expertise without collaboration. But with so much health care noise, i didnt always watch out for myself. With unitedhealthcare, i get personalized information and rewards for addressing my health risks. But shes still gonna give me a heart attack. Thats health in numbers. Unitedhealthcare. See whats new at projectluna. Com gerri a new survey shows that consumers are likely to become prey to pricing tricks. Here is what you are posting on my facebook page. David everyday prices. The sales can sometimes mislead you. It is all safe at at the consumer seems to expect it. Interesting. And we also assess on gerriwillis. Com. 20 said sales and 80 said everyday low pricing. Be sure to log onto gerriwillis. Com for online question every weekday. Here are some of your emails. Dj from texas right but it seems to me if we had personal personnel, it seems that obama would use the same personnel around the united states. And jean says this about the governmentbacked Flood Insurance program. What they should do it at home is destroyed in a flood, it may be paid for by insurance, but only one. It should not be rebuilt or it should be selfinsured by the owner not the taxpayer. It makes sense to me. And david from florida agrees. I dont think people that have chosen to live in a floodplain should be asking for the rest of us to help cover the cost. Flood Insurance Program is and has been for a long time just like any Insurance Program. It ought to pay for itself. And they also want to change the program so you can only collect once. Sending email. Go to gerriwillis. Com. And finally, we talked a lot about investment these on this program. I know you have heard me. We have rick adelman and im on fire about this. If you do pay a more for your Retirement Community to take action. Just 1 in fees can need tens of hundreds of thousands of different so a long time. Esther Plan Administrator for the fee statement heard make sure their 1 or less. Thats all they need to make. After all the companies are administrating 5 trillion worth of savings. Keep the best for yourself. Because you need it. That is my two cents more. A coming up on monday, our panel rick scott on monday where the law goes next and the trut behind the numbers. Thats it for tonights willis report. Have a greatight neil time to kiss another saudi prince. Welcome, everyone, i am neil cavuto. And you bet president obama will be paying his respects to saudi arabia. Those princes arcane, but we certainly do need their oil. The part where we turn our back on a trusted u. S. Ally and they constantly switch sides after they were toppled. The
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