Transcripts For FBC The Willis Report 20141006

The retailer just settled a Consumer Complaint in california saying it faked the size of its products. Cvs will pay close to quarter of a Million Dollars for misleading consumers to think they were getting more products than they actually were. The products in question were popular skin creams and cosmetics. Todd marks, Senior Editor of Consumer Reports who has been investigating this slight of hand for some time. What do you make of the settlement, todd . Surprising . As you know, gerri, a subject near and dear to my heart the incredible shrinking package. We at Consumer Reports studied phenomenon for years. We wrote back in the 1950s. You were at certain age when coffee comes to in a pound can or can takenner. Down to 11 ounces now. Companies are doing this for a long time. There is illusion more product inside of a container and backs or bog or carton. They use high per below. Use new larger size, but new larger size is smaller than the old larger size. Gerri thats right. Take mayonnaise, mustard, take peanut butter. Look at bottom, there is indent a false bottom if you will that gives illusion of when they shrink the size that it is the same. Look at mayonnaise. Mayonnaise used to be a quart. But now 30 ounces but container hasnt shrunk. This is longtime problem. Gerri yes it is a long time coming. Look at some of the cvs products to show people what were talking about. Cvs age refining cream. On and on it goes. Frizzy hair defying. Look at these products. Maybe you tried to buy one recently. Todd, as you look at this. You say it is prevalent, everybody is doing about it what you is really happening here . Because if you look at what they say on the front how much product is actually in this packaging, you can see, automatically what it has. So how is this deceptive. Well, that is the whole thing. Is it deceptive . What would a reasonable consumer think . That is kind of the usual language that the ftc looks at when they decide if an ad or something is perhaps misleading, what would a reasonable consumer think and i think for the most part with lowcost items you dont see a lot of prosecution if you will or a lot of aggressive going after companies because they think theyre relatively lowcost items that really arent going to do much harm to people but if something becomes prevalent and obvious or repetitive enough which they think there is some sort of a deception going on they will proceed and go after them. We see it all the time. Toilet paper, they shave plys, they shave centimeters or millimeters off these rolls. Get rid of the cardboard roll entirely or make it bigger to make you think you have same number of sheets. I want to share cvss statement. They put out the statement. Cvs pharmacy is committed to insure product packaging is sufficient in size to accommodate pertinent information about the product. Cvs Brand Products including packaging are generally designed to be similar to the National Brand equivalents. To your point, todd, you say it is everybody. Show you examples of packaging. Take a look. This is different brand entirely. Oil of olay. Look what you open up, how much product is in there. Can you see in there . Go all the way down in here. Look at this, that is how big the product is. It has got the same problem that you just described. Indentation on the bottom so it is not as big as it looks. What do you make of that . We call it air to spare. Weve done a whole study on this sort of a problem. A lot of container and very little product. See it with potato chips and cereal. Sometimes with the products they settle. Or required when trucks go through High Altitude regions the pressure can build up and they need expansion room. For products like this i think it is kind of a little misleading you remember there is not a lot in there to begin with. Youre dealing with a little bit. When you open it up, oh, my gosh, it is even smaller than i thought. I think that is were the problem comes about. Gerri you have said yourself yoplait, the yogurt people, have done a great job of making it look like theyre giving you the same amount but whipping their yogurt. Take a look at. That slight of hand. That is interesting one, we saw yoplait, they make a number of varieties and theyre all the same size in terms of the container. If you looked at whip variety, when we did, we found it actually weighed less than the others because why in youre paying for air. It is a whipped product. Technically maybe you think it should be in smaller container or more prominent in terms of the size or content still but it is not always. It is calf ought emtore. Let caveat emptor, let the buyer beware. Government will not protect the consumer. Lowcost, lowrisk items. You need to look to make sure that what is on the container is in the bottle. If you feel youre this is greatest thing. If you feel youre being misled, the companies always have a phone number or website to call on the packaging. By regulation, you can call them up and complain. At very least you can get a coupon for a free product. Gerri todd, great stuff. Thank you. Now we want to know what you think. Here is our question tonight. Are you paying more and getting less in sure seems that way. Log on to gerriwillis. Com. Vote on the righthand side of the screen. I will share the results at the end of tonights show. One country affecting everybodys bottom line is china. Fbi director james comey making eyeopening remarks on china engaging in widespread corporate sigher hacking of americas Biggest Companies costing us billions of dollars. They are extremely aggressive and widespread this their efforts to break into american systems to steal information that would benefit their industry. There are two kinds of Big Companies in the united states. There are those who have been hacked by the chinese and those who dont know they have been hacked by the chinese. Gerri joining me now, the author of the coming collapse of china. Gordon chang. Gordon, welcome back to the show. How big of a problem is hacking by china . China is by far the country that hacks us the most. It is not just the pentagon and defense contractors. It is institutions of free societies. It is individuals, newspapers, advocacy groups, charities foundations. They steal somewhere between 20 and 350 billion doll a year of u. S. 350 billion a year of u. S. Inlex wall property. That is 2. 31 million american jobs lost. Gerri what im curious about is this statesponsored or are these individual actors going out to steal what they can. Most of the hacking is done by the Peoples Liberation army, ministry of skate stuart, communist part unit and state enterprises. There are individual hackers in china. Beijing knows about them because of the great firewall. Beijing knows all that is going on in and out of the country through its gateway. If china is not actually behind it self it is complicit. Gerri estimates of cost of chinese cyber threat 20 billion. Just 350 billion every year. Amazing. One of the very interesting things you told our producer, you said, dont buy chinese goods because buying chinesemade products is hiring a burglar to install your home alarm. Essentially all of these Chinese Telecom equipment, especially from a company like huawei, founded by a former Peoples Liberation army colonel, these are going to be, china will be able to exploit them. Weve had blackouts in the united states. Some people think they were actually caused by china. If you put chinese equipment into american networks, that just makes it so much easier for them to do that. Gerri i got to tell you, it is a real warning to a lot of people out there. Before you go, another asia story we wanted you to address quickly, hong kong. Tempers cooling there. Seems like the protesters are sitting down. Why . First of all there is the exhaustion factor. On of those kids have been opt street for 12 days. Many have been there for a week but also a strategic retreat because the students are talking to the hong kong bought. So there is this point where i think most people in hong kong want the students to sort of back away a little bit. When those talks fail, which they will, those protests will swell in size. Gerri gordon, thank you. Thank you. Gerri meanwhile, speaking of cyber threat, Jpmorgan Chase revealed last week that they were the victim of a massive cyberattack. And now were learning the largest bank in the u. S. , doesnt plan to inform the victims of the data breach, their consumers. What can you do if you feel youre a victim of this . Joining me credit sesames john ulzheimer. Thanks for being on the show. Im confounded by this. Jpmorgan chase informed the regulator. They put out a press release and end of story. They dont send letters to their clients, to their customers, to the people who are responsible for their earnings every year. They say, it is up to you. There is a little link on their website saying, update on cybersecurity. Is that enough . Yeah. Clearly it is not enough to engage with every 76 Million Consumers who have their information exposed. It seems like what is happening theyre weighing the cost of actually proactively contacting everyone which would cost tens of millions of dollars, especially if they did it through snail mail, versus allowing the media with the coverage of the breach to do it for them. Essentially what is happening now, it is, people like us, you and i discussing it, acting almost as proxy for chase to notify their customers that be aware that your information may have been breached and you may want to do something about it. Gerri i was shocked by that. There are stories possibly russia was involved in this . I have to tell you Jpmorgan Chase has told fox business that is not the case but why would you belief that russia is involved . It is interesting, soon after the breaches are announced fingers are starting to be pointed. Inevitable that russia is involved whether they are or not. This is what formally happens. Some very clever individual or group of individuals in a basement somewhere figuring out ways to test the fence to figure out weaknesses whether in russia, korea or here in the united states, we still really dont know. What we do know for sure, but when it is absolutely pinpointed it will be publicized with great vigor and well know where the breach came from. Gerri i hope that day comes. Talk about your tips for protecting us. What can i do, if im a Jpmorgan Chase customer tonight and im worried . Believe it or not, this is going to sound very counterintuitive there is Silver Lining in this thing. Looks like the only information that was taken as of today anyways that we know about is contact information. Which means that what is likely going to happen is what is referred to as phishing or spear phishing, that means there will be aggressive emails being sent that will look deseparate testifily similar to emails normally get from chase ha will contain information could make you believe that you need to contact them for some reason. When you start clicking on links in emails, you can start getting in trouble. That is the good news. Gerri that is your first point, dont click on links in any emails or emails from Jpmorgan Chase or purport to be . You. Know what any do not like it at all when people click on links in emails because, youre allowing someone else to essentially incity gate the communication instigate the communication. Always you should start the communication. Whether phone number on back of a credit card or phone number on a statement. That is how you want to start the conversation from your angle, not receptive from their angle. That is absolutely not something you want to do. The fact it could be phishing it could be good news. That tells you they dont have enough information right now to perpetrate some sort of fraud against you. They will go out to try to procure more sensitive type of information, passwords, Social Security numbers, balance information, account numbers, things like that to move forward with fraud. The fact you get fishing emails tells you gerri credit card alerts. Tell me about that. Most credit card issuer will let you know when a card not present transaction is taken place. Entered your card information on internet and charge something, get an alert, hey we process ad transaction where your card was not physically present. Most of the cases are false positive where you actually did instigate the charge. You will want to know if those type of charges occur. Remember, no credit cards were stolen but there is a chance we may find out in the future that credit card information was breached by these hackers. Be aware you should sign up for these types of alert to make sure that the transactions that are occurring are actually valid. Gerri check that chase balance as much as you can. Great tips, john, thanks for coming on tonight you. Bet, thanks, gerri. Gerri. Coming up in a few minutes i talk to former Homeland Security secretary tom ridge on the growing threat of cybercrime. You will want to hear that. Still more to come this hour including your voice. Your voice is important to us. During the show we want to you facebook me or tweet me gerriwillisfbn. Send me an email at gerriwillis. Com. At the government of the hour i will read your tweets and emails. Next, answer the question, how do you do that . We have advice on the best way to fire your Financial Advisor and red flags to look out for. Hard it can be. How. To breathe with copd . It can feel like this. Copd includes chronic bronchitis and emphysema. Spiriva is a oncedaily inhaled. Copd maintenance treatment. That helps open my airways for a full 24 hours. You know, spiriva helps me breathe easier. Spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. Tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. These may worsen with spiriva. Discuss all medicines you take, even eye drops. Stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,. You can get hives, vision changes or eye pain, or problems passing urine. Other side effects include dry mouth and constipation. Nothing can reverse copd. Spiriva helps me breathe better. Sfx blowing sound. Does breathing with copd. Weigh you down . Dont wait ask your doctor about spiriva handihaler. Gerri is your Financial Advisor doling out bad advise . Ignoring your phone calls . Or worse, engaging in criminal behavior . Firing a deadbeat advisor is just as important as finding the right one so how do you do that . Ed butowsky, wealth manager and Financial Advisor at chatwood invests of the great to see you, ed. It is true, there are some bad guys out there. How many . Well you know what . There is a lot of bad guys out there. There is a lot of good people out there but the bad ones seem to come out at all the wrong times. I know one group that is preying on older people in san diego, gerri. It is unbelievable. A lot of these, these are not the big firms, ubs firms and morgan stanley. These are the small, independent, brokerdealers. There are some good ones but this one particular group really gets me, people come to me when they have issues from time to time. A 74, 73yearold person put their money into and was convinced, they werent legally able to put it in because they didnt meet qualifications, put 90 percent of their money one fund, gerri. Broker took a 10 commission. They cant took their money out. Of a Million Dollars, 900,000 got put into the thing and it is gone. They are not supposed to be in it to begin with and didnt know what they were investing in. No. Gerri look what is going on. Finra talking about numbers folks doing bad stuff. Last year they suspended 670 individuals. They received over 2300 individual investor complaints. You admittedly looking at kind of an outlyer situation where somebody is getting ripped off but lots of other reasons people have problems with their Financial Advisor. Talk to us about that . There is a lot of shoplifting, i call it like that. They buy a bond in the market, get a mark up or mark down. Clients never see the amount of money that markup is. They might act as though, hey, im buying Municipal Bond for you, but if theyre taking more than a quarter of 1 which most do, theyre basically ripping you off. If youre buying Municipal Bond, before you agree to buy a Municipal Bond or Corporate Bond if your broker is showing it to you, ask them, how much is the markup . Make them put it in an email to you. If it is more than a quarter of 1 , dont do it. Theyre ripping you off. Gerri got to tell you, i think some of what is going on is much more insidious. These financial vie sores advisors intimidate older woman, you dont understand this. Youre stupid. I will buy this because this is what you need. Right. Gerri really pushing people around and telling them that they dont get it, theyre not up to snuff. So the big complaints are, why people fire their Financial Advisor, service, relationship, advice, performance, reputation and trust. People feel like, you know, i call him but i cant get him on the phone. There is stuff as simple as that. Tell me, give me the one, two, three. If i want to fire my advisor today, how do i do it . Exactly. In fact i want to add one thing you just said. One way to avoid having problems, insist any transaction prior to doing it is written in an email. That you have a tracking system versus, oh, i didnt really say. That that is exactly the way, gerri, you should go about firing your broker. You know what . Here is email, as of this time or date, please do not transact any purchases are and sales on my behalf and copy the Branch Manager and compliance officer. Guess what game over, nothing else is going to get done. That is one way to do it. The other thing you need to do, i dont know why anybody signs these discretionary forms. A lot of people will sign a discretionary form and let anyone buy anything and sell anything at anytime. Advisor says i have so many clients i cant afford to spend the time calling everybody. You know what . If you have my money and im a client you have my money, you better call me or i find somebody else. Make sure the people are calling you prior to doing transactions. Do not give discretion to anybody, gerri. Gerri final point, be nice at end of the relationship because you probably will have to go back to them to get information for taxes. Weve got to go. Thanks for coming on. As always, grade job. Thanks, gerri. Gerri were less than a month away from open enrollment. What should we expect from obamacare this time around. Next you dont have to spend a fortune fixings up your car. Consumer reports is here with ways to fix it for practically nothing. No kidding. Ameriprise asked people a simple question in retirement, will you have enough money to live life on your terms . I sure hope so. With healthcare costs, who knows. Umm. Everyone has retirement questions. So ameriprise created the exclusive confident retirement approach. Now you and your ameripise advisor. Can get the real answers you need. Start building your confident retirement today. Yoare you kidding me . Oo . Everybodys on woowoo [elevator bell rings] woowoo . Lock and load, people were going all in on woowoo mark comp us up a profile page susie write us some posts i want sponsored woos. I want targeted woos. We need an ethnically ambiguous woowoo mascot. Dude. Are you still on woowoo . Naaaahh, man, my moms on woowoo. receptionist Gunderman Group is growing. Getting in a groove. Growth is gratifying. Goal is to grow. Gotta get greater growth. I just talked to ups. They got expert advise, special discounts, new technologies. 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 all awesome i love logistics gerri a willis report from you a warning about the beef you may be eating. Us agriculture says a Texas Company is recalling nearly 90,000 pounds of ground beef that might contain pieces of metal. They issued the recall after four consumers complained. The products recalled were sold by heb stores. Not pretty. Before reaching into your pocket for a marilyn car repair, youre going to want to hear this. Vehicle manufactures they may offer a secret warrant that could save awe thousands of dollars in repairs. Mark. Great to have you here on this show. How can there be secret warranties. How can i not know about them . They dont have to tell you about them. Unlike a safety bulletin, a Technical Service bulletin applies to things that may not affect the safety of the vehicle. Things that may not affect the operation of car, but dont affect the safety of the vehicle. Gerri what type of things might be covered that i dont know about . This is where things get interesting, they have to tell their dealers what you need to do is file a Technical Service bulletin. That goes to federal regularities. And so basically what you do, you look up your car and you discover all the things that may go wrong with your vehicle. They wont repair it just because youre suspicious things might go wrong. They have to replace every single part that goes wrong in a recall. When you go into the dealership, your car needs to have a fault. What you need to know going in, the actual problem is covered. Gerri so the Technical Service bulletin is the imagine formula and youve got that in the Current Issue of reports. And i want to give a couple of examples. The honda sifng they extended the paint warranty to seven years. So what happened there . Why did they have to do that . Well, sometimes the paint formulation doesnt work out. Sometimes its supplier issues. Its things the car company discovers a few months maybe sometimes a year or two they discover the reliability of certain pieces doesnt go so well. Some Second Generation Toyota Priuses go blank. That something that may startle you somewhat to discover you you dont know how fast youre going. If you know about it, they will repair free of charge. Gerri thank you for that. Were looking up for you and your money. What about your portfolio . And next with open enromantic just around the corner, experts are already expecting more problems and more expenses. Well have the latest. Gerri a fox business alert, walmart is moving into the Health Insurance arena. The Worlds Largest retailer plans to work with health savings. Com. In either medicare or obamacare. Customers can enroll online by phone or in one of the 2700 stores participating in the program. That all starts friday. Walmart which teamed up with auto insurance. Com to do a Similar Program in april a lot of people going into the stores. Now, not that the government would ever admit it, but they might be happy with walmarts help in handling obamacare. The second Enrollment Period is just a month away. Before then, Insurance Companies are going to send cancellation notices to thousands of people more people, canceled, why . When people found out the president s promise of if you like it you can keep it, there was a mad dash to hold onto these policies. The state insurance commissioner said you can keep it. Thats not going to be true forever. Some of them are going away this year. Sometimes the insurer doesnt want too many products out there. Well see another round of carnations and a round of problems with the website as well. Gerri we talked a lot about that last year. The website hesitant been working as it should. The front end has been working well, but how about the back end . Is it seamless from front to back . . by no means. I think weve seen the administration be very careful about setting expectations for people who are trying to newly sign up for obamacare. Its going to be better than last year, but not there. We spent a billion dollars for healthcare. Gov and the front end is not going to be seamless and the back end is not built. The second problem were going to get unless people who have insurance start from scratch, there is no guarantee they will get Accurate Information about their subsidiaries. In sitting there and trying to pake policy. Ey may end up in the wrong policy. Thats going to end in buyers remorse. Gerri not a system ready for prime time . the government said theyve got more sneer under oath. All weve seen are higher costs, doug. Its going to depend on where they show up. The big distinction they were in the densely overpopulated areas. They competed pretty extensively. Wed have one maybe two insurers in the area. If they enter the rural areas, that will be a good thing. They will go for the densely populated areas. Youll see different premiums for the urban and rural areas. Get in their from Catholic Church scrap scratch. Shop carefully for your policy. You want to walk out with a policy you want to keep. Gerri its so hard though. Doug, thanks so much for coming on. Im sure well be back to you on this topic. Thanks, gerri. Gerri everybody is concerned about health care. Right . Tomorrow on the willis report what were going to do is test the surfaces wedge into contact every day and well answer the question which is dirtier your break room or bathroom. Hold the phone. You wont believe what we found out when we tested this cell phone. Thats tomorrow on the willis report. So your house is insured so is your car, but what about your data. I sit down with a former Homeland Security chief, tom ridge whose who says we all need a digital policy. Were covering your assets with our Financial Panel coming up, and heres your consumer gauge. All the numbers you need to know. Well be right back. Gerri inspector of another correction is spooking many traders in some especially as the fed winds down its massive stimulus program. Good investors see a 10 percent drop in the market in some. Will the upcoming midterms give it a boost . Nancy, principal of the Money Managers financial group. And greg president of an advisory group. Greg, a little ray of sunset. We could get a boost from midterm elections how did that work . . we could get a boom. History says we should get a boom. Im not a person that likes to vote against history. We have a lot of uncertainty facing the market with everything like ebola and isis and everything that is there, but the midterm elections they bring a lot of certainty and maybe will counteract uncertainty. Gerri what were seeing in stocks, they tend to rise. October 31st to the following april 30th, theyre up like almost 30 percent. 17 percent on average. This is one of those trends you dont want to avow avoid. The trend is your friend. This one of those anomalies or something youd like to play. I hope it happens obviously for all our clients, but we manage a lot of employees in corporate retirement plans so i dont want our clients to really think about it because were really trying to help them put away money for a long time. Ten years, 20 years, 30 years. While Everyone Wants the market to go up, i dont want my clients to focus on that. Gerri october worst performers has been utilities and energy. What do you see in your crystal ball . As a longterm planner also, we dont focus on the shortterm, but certainly, its an opportunity right now. You want to be contrarian when youre investing, but think of the longterm. Dont think for the next 30 days or 90 days. Think longterm. Measure what your investment recommendation or selection is based on your risk tolerance and your time horizon. Gerri greg, you know we talk a lot or have over the past week or so about what is going on in the bond market and one of the topics obviously has been bill gross and his exit from pimco and moving over to janice. What is the latest on this. A lot of people backed out of pimco funds. Do you expect more to do the same . Probably so. I believe that things come in cycles. Being somebody that follows sports, youll see a team do very, very well, but there always comes a time to go in another direction. I mean, voting for the person, i think you got to watch out. I think no matter what happens, no matter where he goes, his reputation, hell be successful. Gerri mike, what are you telling your clients. There was a story about gross median the head of double capital jeffrey, and he said im kobe, youre lebron james. I mean, this guy is hilarious. He said i have fibromyalgia he agrees, you have two. Probably going to five. What do you make of all this and most importantly what are you telling your clients. I think its a good headline. Obviously of the two most famous bond managers in the world meeting. I personally dont think it would have worked. To be as successful as both bill and jeffrey, you have to be very confident in your picks. And what if one of them wanted to buy more and the other wanted to sell, who is ultimately going to make that decision, so while it was a good headline, i dont think it was good in the longterm it would have worked. We are worried. Bill leaving. The funds had some issues over the last 18 months, so we are recommending to our clients that we really need to look at that. And we need to make sure staying with pimco is the right thing to do over the longterm. Gerri you havent pulled the plug yet. Nancy, how about you. What do you make of pimcos future . Well, for one, pimco total return is an unbelievable story. Pimco as a company is an unbelievable story when it comes to income planning, and certainly bill gross is the lead without a doubt in the industry. Pimcos loss of bill is a huge loss and for professional Portfolio Managers like myself, i do take it very serious. If we do watch the management of a fund, not the fund name. So when he leaves his funds along with it is his performance. They have to start over again. But the team that follows him is very experienced. Gerri are you staying with pimco. For the near term, absolutely. Were watching it very closely, but were following it very closely. Gerri well, good stuff, guys. Thanks for coming on tonight. Thank you. Thank you. Gerri and still to come, my 2 cents more, but first who is really behind all these massive Cyber Attacks . The former director of Homeland Security joins us with some answers. Im only in my 60s. Ive got a nice long life ahead. Big plans. 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Welcome to the show. Secretary its great to have you here. This new product, this new venture youre involved in. Why now . Why are you doing this now . And who do you hope to impact and help . Well, first of all, theres certainly a need in the marketplace that people are clamoring for it. And the reason we introduced it now, weve spent the last several months demonstrating to them that we have an Assessment Tool that is unique in the marketplace. It is threat driven. Were going to take a look at the threats in the sector of the company. We are going to look at the regulations. If they are complying with the standards pursuit to obamas executive order. Then we have a tool that will go in and based on that assessment, we can tell the underwriters its a go, you can insure them because theyre managing the risk well or we give them a caution sign. They need to do certain things before you can or should you gerri so its not automatic. You got top of your ducks in order. And my understanding is you want to help people get their ducks in order. Back to your comments about the dlet. 3,000 Cyber Attacks on us companies in 2013. The cost of cyber crime estimated at 445 billion annually to the global economy. You say you want to help Companies Manage their cyber operations. What kind of help can you give them to protect themselves . Well, its a great question. And at the end of the day, Ridge Insurance Solutions company, we dont want to just sell a product. Wed like to be to become a trusted advisor. We take a look at their defense memphis, we need to remind them that the insurance policy may last a year, but the threat may change on a daytoday basis. The threat actors, they can move that quickly. So we hope to build a relationship with them. A lot of these companies they have the International Capital that are going to drive the economies in the years ahead. So we have a suite of services that we would put before these companies and say, in addition to the insurance, which is part of the Risk Management, its not an it problem, its a business risk. We think you should embed these pieces of software. And down the road, you may be rewarded. Gerri im sure you heard the fbi director on tv. There are two companies. The companies that have been hacked and the companies that dont know theyve been hacked. Nords, everyone has been hacked. So i look at those numbers, and i say to myself, if i had to bet, id bet with the hackers. How good a shot do you have at insuring these people against loss when it happens every day. Well, the fact it happens every day is the reason you want to be associated we company like ours and make an assessment to defend yourself. I mean, Risk Management, part of Risk Management is having that insurance. I mean, its like you buy insurance to deal with mother natures fury. You buy insurance to deal with property damage. Part of managing the risk, its a good insurance product. Between our insurance product and elsewhere. We get inside the system. We have a technical probe before you even write insurance. Gerri you were secretary of Homeland Security. You got a view of this issue like nobody else. Who do you think are the worst owners outer out there . Who are you most interested in protecting your clients from. Well, i think there are three primary nation states that are responsible, the chinese, the russians and the iranians. You have organized crime. Sometimes it operates in countries that tolerate it. Sometimes in countries that cant do anything about it. So depending on the source, depending on the threat, its either espy knowledge or theft so when you took a look at the nations hackers have another motive. Those who want to steal your proprietor information, they have another motive. . the meth dolling were using, we will look at the sector that the companies are located, well take a look at those threats, and as we set up our Assessment Tools, see how vulnerable these companies are to these threats. Gerri we covered the jp chase are you surprised a major bank could be breached and are they doing enough to protect their customers . Its difficult for me to comment on any of these companies because my time and i have no idea the kind of security protocol they adopted before these incursions. The one feature of the assessment protocol that weve developed a capability to go in from a distance. One of the things wed require from our insured, the first sign of a potential attack, you need to call us. Because we know we have a tool that can go in and potentially identify the source and then seal out the contaminated space. There seems to be a delay between when they discovered the potential threat and when they announce the threat. If too much time elapses between discovery and doing something about it, you may not be able to contain the information thats comprised. We have the tool that can contain that if they become part of our platform. Gerri thanks for coming on the show. Well be right back with my 2 cents more and the answer to my question today are you paying more and getting less . Gerri earlier this hour we told you about cbs settling allegations that their packaging is not matching what they put inside the package. All air and no product. Our guests say this is the new normal. Are you paying more and getting less . We asked the question. 99 percent said yes. 1 percent said no. Log onto gerri will us. Com to get to our questions. We talked a lot about cyber crime. And no doubt you know about the hacking of jp morgan customers. Maybe youre one yourself. Sources say nine other banks may be hit by the same. Chase has decided not to reach out to individual consumers who are customers to explain whats going on. I dont understand that. It seems to me that alerting customers directly not through an email link would make it clear that chase isnt the bad guy. Thats my 2 cents more. And coming up tomorrow with all the diseases in the headlines. Flu, ebola, enterovirus, ill informant how to clean your surroundings. Youll see it up close and personal. Thats it for tonights willis report. Thanks for joining us. Have a great night. Making money with Charles Payne is coming up next. . charles im Charles Payne and youre watching making money. Some big news stories on ebola. First rich live in washington with the latest. Charles, president obama said the government is working on additional Airline Passenger screenings to halt the spread of ebola. Following a meeting with Health Officials at the white house he said. The white house said its not considering a travel ban from west africa to the united states. The Obama Administration said a ban would prevent aid workers from traveling there. Adding the best strategy for containing is to confront the disease in africa president white house the risk of an Ebola Outbreak is