Transcripts For WJLA On The Money 20170514

Their menu. And while many major chains are already complying with the regulations the cry to scrap them altogether isnt going away. Is it a way to make us healthier or is this a case of the nanny state . That is todays cover story. The numbers are staggering. About 70 of adults in the u. S. , 20 or older, are overweight, with close to 40 considered obese. About a third of what we eat is consumed outside the home. In 2010, as part of the Affordable Care act, the Obama Administration put in place regulations requiring chain restaurants, Grocery Stores, and other food sellers with more than 20 locations to clearly display food calorie count. Opponents argue the mandate places unfair Financial Burdens on owners and doesnt take into account how different businesses operate. The house held hearings two years ago. At dominos, as weve heard there are 34 million ways to make a single pizza based on all the cross types, sauces and toppings that we offer. Pizza hut has they now have 2 billion. The deadline for compliance was pushed off in 2015. 2016 and again this week, with a new target date set for may 7th, 2018. The fda says it wants to make the menu labeling rule more flexible while still providing useful information to consumers. And how do people feel about the calorie counts . Im concerned about calorie content so i definitely like it. Calorie is not the only thing i look at. I look at fat content, sugars, all kinds of stuff. I usually do low fat. Joining us now is margo, the director of nutrition policy at the center for science in the public interest. And Jennifer Hatcher who is the chief Public Policy officer and Senior Vice President of Government Relations for the Food Marketing institute. Welcome to both of you. This has been a longfought battle. Jennifer at this point your organization isnt fighting the way it had been in the past. What do you want with this legislation at this point . And what does the delay mean for your memberst the delay just gives time for the new folks over at fda to take a look at this and figure out a way to do it in a less burdensome manner. This was the third most burdensome regulation that the Obama Administration, under their own criteria, had in place in 2010 and were really looking at flexibility. How do we do this, and make sure that we have an opportunity to correct an error, rather than going to an immediate gotcha situation. Let us have one menu board or one way of one area for providing the information. Rather than having to put it on every single item in the salad bar. Those are the kinds of things that were really hoping that this review will allow fda to try to correct. Margo what do you think about the delay . Well, calls for flexibility are washington speak for providing less information to consumers in ways that are less useful. When she talks about putting all the information on one front of the store, that doesnt help you when youre trying to choose among muffins or items at the salad bar or from the deli. People need information right there, at the point of decision making. Jennifer, i understand your point about how complicated some of these regulations are, but i also understand what margos saying when i was pregnant recently i was trying very hard to make sure i was monitoring everything i was eating. I was surprised sometimes by things that i thought were healthy that werent and vice versa. Well, were not talking about not providing the information. Were talking about providing it in a manner that is a lot more economical. That way we can put one board up that has all the information. We switch out items in a salad bar several times a day. And you have a ripe cantaloupe and want to put it in the salad bar, if the sign guy is not around, you cant do that. Shes talking about those are trying to change. Shes talking about putting information in places where people wont see it and be able to use it. Its it to put it all together in one place but if its up by the Cash Register and its not next to the items, where people are making their decisions, what good is the information . Although margo, i hear your point. Go ahead jennifer. No, thats not what were talking about at all. Were talking about one sign at the salad bar as opposed to 140. We really reduce the amount of food waste in a Grocery Store and the way weve done that is by taking items from the produce department and cutting them up and putting them on the salad bar. Thats already allowed under the current rule. No its not. Yes, it is. Thats under the commonsense nutrition labeling act that passed the house last year it is allowed and thats what were trying to do. Is lets have common sense nutrition labeling. Lets have a sign with all of the information so that were not dinged if we have a violation. You know, the difference between, you know, how many calories are in lettuce or shredded carrots is, you know, is not going to be the kind of thing. We have five calorie threshold that we can be off on this, a threshold for any of those items under 50 calories, theres going to be mistakes. Are your members doing their best to make sure that theyre getting something up in the stores to this point, even if it doesnt necessarily meet the eventual guidelines . Yes. What are they doing . Youll see a lot of calorie counts already up in Grocery Stores. If we were talking about menus and menu boards wed be in a totally different environment. This rule was written for chain restaurants and menus and menu boards. Then it was expanded but it wasnt defined in a way that works in a supermarket environment. Thats not for supermarkets and convenience stores, as well, and restaurants also have foods on display. They have baked goods just like supermarkets. They have salad bars. And why are the restaurants able to label their salad bars and yet the supermarkets are whining that its impossible . Well, they dont change out the items in the salad bar and they dont source them from the store. E ty do. Margo will these rules be implemented next year . What im most worried about are the things that the supermarket industry is lobbying congress for that would really weaken the rules and would mean that people wouldnt have information right at the point. In ways that are easy to understand, for sensible serving sizes. Jennifer, will we see these rules imletted next year . Were hoping that were going to get some flexibility and get something in place. Ladies i want to thank you both for your time today. We do appreciate it. Up next, its been an ugly few months for the airlines. We dont need to tell you whats been going on. But now theyve got a report card from passengers. And the grades may surprise you. And later, Warren Buffetts simple plan that can help build your retirement nest egg. Right now a look at how the stock market ended t i love how usaa gives me the peace of mind and the security just like the marines did. At one point, i did change and i was not happy with the customer service. We have switched back over and we feel like were back home now. The process through usaa is so effortless, that you feel like youre a part of the family. I love that i can pass the membership to my children, and that they can be protected. Were the williams family, and were usaa members for life. Call usaa today to talk about your insurance needs. This is the schmidts yard. And, oh schmidt, thats a lot of dirt. But theres plenty of time for scotts outdoor cleaner plus oxiclean to work its magic. All while being safe to use around plants and grass. Guaranteed. This is a scotts yard. Aleve with direct therapy tens device a relief from lower back pain. I put it on my back. I feel this electrical pulse grabbing at my muscles. It was more powerful than i was expecting it to be. It worked. I believe aleve. Learn more and read reviews at aleve. Com. Now heres a look at whats making news as we head into a new week on the money. A rebound for retail sales in april after a slow winter of staffing. They were up 0. 4 last month, slightly below expectations, after a meager gain of just 0. 1 in march. Online sales were strong but Department Stores were weak. That means people are still spending but their buying habits are changing. Retail sales are always closely watched because consumption makes up more than twothirds of the u. S. Economy. Stocks fell on thursday, as weak retail earnings reports pushed the market lower. Although the nasdaq and the s p 500 hit new highs earlier in the week, stocks were mixed on friday. U. S. Business prices rose more than expected in april. The Producer Price index rose by 0. 5 last month ahead of expectations. The ppi measures changes in prices that u. S. Companies receive for their goods and services. The increase is a sign of inflation and a sign that in building. If you want a tesla now you can have one on your roof. Sort of. The companys ceo elon musk says tesla will begin selling and testing solar roof tiles in the United States this summer. Musk says the tiles will be lighter, cheaper and more durable than the typical tiles. A new survey says travelers in america are happier than ever with the airlines that theyre flying. That may surprise you. It definitely shocked me given all the incidents weve seen in recent weeks, showing travelers getting dragged off a plane, arguing with Flight Attendants and even having fist fights. Phil lebeau has more on the disconnect between what were seeing and what we are actually experiencing when we get on a plane. Oh, my god the videos are shocking. From a passenger being dragged off a plane, to a Flight Attendant arguing with a different passen to a fist fight in the terminal when flights were canceled. The Airline Industry has become a punching bag. Its so bad, c Airline Executives to capitol hill and is threatening to impose new rules to protect customers. Seize this opportunity, because if you dont, were going to come. And youre not going to like it. Reporter you would think americans are just as fed up with the airlines. But guess what . Theyre not. I mean, things arent happening as frequently as maybe the media portrays them as. They make fantastic video for television. But thats not the average experience. Reporter Michael Taylor oversaw the survey of more than 11,000 travelers. And he says Airline Satisfaction in america is at an alltime high. Well our survey tells us since 2006 Airline Travel has been a more satisfying experience. Reporter a big reason people are more positive about flying is because the average ticket price has dropped to 349 round trip. Down 8. 5 in the last year. At the same time, airlines are at or near record highs when it comes to landing flights o or making sure bags get to customers on time. Add in the fact that airports are doing a better job adding amenities and making security screening less of a hassle, and you see why many travelers think the airlines are doing okay. Its better than it used to be. There are times that, you know, you could be a little unhappy about the service. But its not bad overall. I think security, thats usually the thing thats on peoples mind first and foremost when they get to an airport. They want to get through quickly and i think overall thats been pretty positive for me. Of course i always fly southwest, almost always, and all ive heard about them is good stuff reporter while this j. D. Powers survey of more than 11,000 travelers is encouraging for the airlines, the industry still has a ways to go in order to catch up with other industries. In fact, becky, the Airline Industry in terms of how it treats customers still ranked behind rental car companies, the hotel industry, the hospitality industry, so theyre improving but still have a ways to go. Phil, they clearly didnt survey me when they were asking people what they thought about these things. I guess part of it probably is what airline youre flying, which airport youre flying through. Yeah. Those are very different experiences probably, for peop. Correct. And it does depend on where youre flying. But for the most part, and i do a lot of flying, i know you do, too, becky, but for the most part if you get to where you want to be on time with a relatively courteous staff, and its never going to be a dream experience. No. Courtesy goes a long way. People say its okay. Courtesy goes a long way. In terms of them being on time theyve all padded their arrival times at this point. Correct. To where they were a few years ago, too. It used to take 2 1 2 hours to get to chicago, now its 3. Everythings been padded because they know things are slow and thats not all entirely the airlines fault. A lot of that is just the transportation, system, the tsa is slowing things down and we need a better system for tracking all these flights. I get all of that. But, courtesy does go a long phil, thank you. You bet. Up next, were on the money, Warren Buffett has some advice for your Retirement Savings goals. What to watch and what to. If you have a garden, you know weeds are lowdown little scoundrels. If you have a garden, you know, weeds are low down little scoundrels. Without harming precious plants nearby. So draw the line. Just give the stick one click, touch the leaves and the gel stays put killing garden weeds to the root with pinpoint precision. Draw the line with roundup precision gel®. And be sure to check out roundup® with sure shot wand. Another goodforthegarden product from roundup. Aleve with direct therapy tens device a relief from lower back pain. I put it on my back. I feel this electrical pulse grabbing at my muscles. It was more powerful than i was expecting it to be. It worked. I believe aleve. Learn more and read reviews at aleve. Com. This is brookes yard with ugly bare spots. But scotts ez seed changes everything. Our finest grass seed plus quickstart fertilizer and natural super absorbent mulch grow grass anywhere. Guaranteed. This is a scotts yard. Warren buffett is Berkshire Hathaway, the worlds second richest man, and one of the most successful stock market investors. When i sat down with the oracle of omaha earlier this week i asked what makes the most sense for people right now when it comes to saving for retirement. I think its the same thing that makes most sense frankly all of the time, and that is to consistently buy an s p 500 low cost index fund. Keep buying it through thick and thin, and especially through thin. Because the temptations get when you see bad headlines in newspapers, maybe to say well maybe i should skip a year or something. Just keep buying. American business is going to do fine over time. So you know the Investment Universe is going to do very well. The Dow Jones Industrial average went from 66 to 1 1,497 in one century, and since that century has ended, its more or less doubled again. American business is going to do well. The trick is not to pick the right company, its to be because most people arent equipped to do that. And plenty of times i make mistakes. The trick is to essentially buy all the Big Companies through the sfund and to do it consistently, and to do it in a very, very low cost way. Because costs really matter. And investments, if returns are going to be 7 or 8 and you are paying 1 through fees, that makes an enormous difference in how much money you have on retirement. At the annual meeting for Berkshire Hathaway this year, you introduced a special guest to the audience of 40,000 shareholders who were watching. It was jack vogel. Why did you want to recognize jack vogel . I think jack vogel has done more for american investors than any other person connected with wall street or the investment because with a number of other people we came up with the idea, he wasnt the sole thinker behind it but he was the guy who now trillions of dollars in low cost index funds. Most people are going to have better lives, better retirements, their kids are going to inherit more money because of jack vogel. There are a lot of people who look at the 401 k options and theyll have 10, 15, even 20 different funds that they can invest in. Why shouldnt they take that rather than an s p 500 index . Well, youll do very well with an s p index. And dont let them talk to you about other index funds and say, you know, you have to have foreign or maybe you can pick a better industry. Youll almost always find it comes with bigger fees. And just remember the person youre talking to, your fees are their income. And it leaves your pocket and goes to them. And you better get something for it. And you really dont get it in an investment management. People make a lot of mistakes, and youve made some mistakes over the years, too. What are some of the mistakes youve made and how have you learned from them . One ce borrow money against stocks is a terrible mistake. And you dont want to sell stocks at the wrong time and you wont have to sell stocks at the wrong time unless you owe money against them. But i have seen more smart people that have been ruined by leverage than in any other way. The second thing is you should have no illusions that you or your next door neighbor or in all likelihood the investment person youre talking to can either time the market, or pick individual stocks that will do better. Sure some are going to have better than average just by the fact that you flip a coin, some are going to call heads, some are going to call tails and one or the other will be right at that time. But you do not want to ever get the impression that you can pick stocks, timing that you can listen to what the Federal Reserve is supposed to do or what some political candidate says or anything else and that that will enable you to have an edge in the stock market. It just doesnt work that way. Warren i want to thank you your advice today. Thank you. Up next on the money a look at the news for the week ahead. And its not science fiction. Robotic legs are here, helping real patients learn to walk again. After becoming one of the largest Broadband Companies in the country. After expanding our Fiber Network coast to coast. These are the places we call home. We are centurylink. We believe in the power of the digital world. The power to connect. And thats what drives us everyday. Aleve with direct therapy tens device a relief from lower back pain. I put it on my back. I feel this electrical pulse grabbing at my muscles. It was more powerful than i was expecting it to be. It worked. I believe aleve. Learn more and read reviews at aleve. Com. This is the schmidts yard. And, oh schmidt, thats a lot of dirt. Time for scotts outdoor cleaner plus oxiclean to work its magic. All while being safe to use around plants and grass. Guaranteed. This is a scotts yard. I did active duty 11 years. My in july of 98. And two in the reserves. Our 18 year old was in an accident. When i call usaa it was that voice asking me, is your daughter ok . Thats where i felt relief. It actually helped to know that somebody else cared and wanted make sure that i was okay. That was really great. Were the rivera family, and we will be with usaa for life. Usaa. We know what it means to serve. Call today to talk about your insurance needs. Introducing the fios gigabit connection with download speeds up to 940 megs that are 20x faster and more powerful than most people have. Incredibly, its 79. 99 a month for one year. Comcast charges you 89. 99 for a triple play that only offers 200 mgs speeds. Switch to the most powerful internet at the most revolutionary price. Get fios gigabit connection for 79. 99 a month and well give you tv, hbo for one year and multiroom dvr service for 2 years all with a 2 year agreement. So act fast. Go to fiosgigabit. Com here are the stories coming up that may impact your money this week. On monday the National Association of home b releases its survey measuring the strength of the housing market. On tuesday President Trump begins two days of meetings in washington with turkeys president erdogan. Thursday is the fifth anniversary of facebook becoming a public company. And who ordered a pizza . You should on friday. In honor of National Pizza day. Or, in our house, every day. The ability to stand and walk is something that most of us take for granted. But for a person who has suffered a stroke or spinal cord injury they often lose that precious gift. Now a new fda approved wearable robot is helping some people actually walk again. Tom looby is the ceo of ekso bionics, the maker of this device. Thank you so much for being here. Great to be here. We can look at the device. Theres one just over your shoulder and weve got some video of it, too. How does it work . It looks like its something straight out of the movies. So its an exo skeleton and you can put on the strap like a back pack, you strap legs in, its used as a tool for physical therapists. It has four motors in it and those read what a person can put into a step and only helps them complete that step. So its a tool for rehabilitation. Youre not putting it on to go for a ride. Its a very important innovation that were trying to deploy in to rehab. Todays standard of care is relatively difficult. Patients lie in bed for long periods of time before they can be safe to be put upright. And then often, up to three physical therapists support that person and then manually manipulate their legs to take those first steps. We can get them up and walking sooner, in a safe way, and create many more high quality steps which is going to help them with the capabilities when we deliver them to the home. If it helps them learn more quickly to walk, does it reinforce because youre getting up more quickly . Are you more likely to eventually make a better recovery . Thats what our goal is to demonstrate that upon discharge we can, you know, send them to the home with a higher degree of capability. We do this through repetition. Its like weight training. Its like training there are a rehabilitation. Is there a point where this would be affordable enough, or small enough, or easy enough to maneuver that someone should take one of these home with them and actually use it . There are 19 Million People in the United States who are mobility impaired for stroke, spinal cord injury, a host of other diseases and injuries, and yes, we think that exo skeletons will help in the homes. The devices have got to be less expensive. More capable. And certainly safe to deploy them. And then behind the science were making the next generation for home mobility so that you can realize that dream. Right now is it covered by insurance when they cover my rehab . Its covered in the clinic. What we want to do is work on enhancing that reimbursement because its high technology. We think that the outcomes are there. We need to go and demonstrate that with larger patients so they can cover those things with additional coverage. How did you come up with this idea . Our innovators did it ten years ago, actually, we took some early patents out of the university and then worked on many military so, theres a large patent portfolio that ekso bionics has. Were deploying it in two markets. The Health Care Market and we also have exo skeletons for workers on construction sites and the assembly line. Tom, thank you very much for coming in and sharing this with us. Thank you, becky. Thats the show for today. Im becky quick. Thank you so much for joining us. Next week, whether your Retirement Living plans include relocating or remodeling were going to tell you what to look for and what to look out for. Every week keep it right here, were on the money. Have a great one and well see you next weeke good morning, america. Breaking overnight. North korea missile launch. Landing 300 miles from the russian border. The test launch raising new concerns. President trumps reaction. And why experts are saying this could be a new type of missile. The Global Implications this morning. The search for a replacement for james comey. The candidates with diverse backgrounds interviewed for the top job at the fbi. As President Trump wonders what all the fuss is about over james comeys firing. I guess i was a little bit surprised, because all of the democrats, i mean, they hated jim comey. Plus, the president s message to these graduates at a christian university. Did he win over the crowd . Dodging a bullet. The american Computer Programmer who stopped that massive