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Transcripts For WTVJ On The Money 20160207

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Largest sites hav spent more than 200 million on ads promising big paufs. Users compete trying to pick the best player for the virtual team. The winner is determined by the player stat that is day and a cash prize is awarded. Nearly 57 Million People ininhe United States and canada play Fantasy Sports. Up nearly 90 since 2008. Professional sports leagues and Big Companies iested in the concept. But as daily Fantasy Sports have grown in popularity so have questions about the legality. Thats spurred protest. Most players lose money. A study by sports Business Journal found in the first half of 2015, 91 of baseballs daily fantasy player profits were won by 1. 3 of users. The attorneys general of six states call it gambling or illegal under state laws. Investor like the Dallas Mavericks owner mark cuban say it is a game of skill. Daily fantasy arent gambling. Period. End of story. Comcast and nbc universal, the Parent Company that produce it is program own a stake in fan duel. Are daily Fantasy Sports skill or gambling . Timothy fong is from the ucla Gambling Studies Program and rick ca are, ro is a sports attorney. Thk you for being here. Rick, what do you think . Is it a game of skill or gambling . Its a game of skill based on my prior history. In the 60s i would send draft picks in the mail to friends. We would play a forerunner of fantasy and frankly 5 of the entire industry is the daily fantasy industry. The rest of the industry is fantasy on a seasonal basis that nobody questions. I think well see in the future most of this evolving into Technology Companies as opposed to Media Companies which is another issue. Why do you think the daily Fantasy Sports are seen one way, season long sports are seen a different way. In my opinion seasonlong Fantasy Sports is skill based. Players are constantly making moves. Things are changi. Daily Fantasy Sports is gambling because it is a game of chance. Any events can happen that day, alte the game, outcome and essentially be just determining the outcome which is gambling. I want to come back to you. When you say its legalal attorneys general say fan duel and draft kings isnt legal in their opinion. In fact its been this week we saw an aorney general stand up, from rhode island who said he thinks it is l gal but needs to be regulated. What do you say to the attorneys general . It needs to be regulated. Different kind of game. My point is this. The games themselves are evevving. I have lost money on both. Dont judge it by that. The bottom line i that the game of skill is evolving and it really doesnt turn on whether its one week, two or a season. The companies that are prevailing are the ones that will figure out how to use the communal aspect of playing these games because every league has relationships and teams do with this kind of process. The issue is not to put your head in the sand and say its illegal. The question is how you regulate it, tax it andvolve it. Im not sure where i come down on this. Lets talk about your expertise in gambling. Some of the concerns from people who look at this say, wait a second, you can get addicted to Something Like this. What do you think about this with the potential for gambling addiction . Have you seen cases like that . Absolutely. There is definitely risk to develop addiction. Clinic as well as the state Treatment Program for men and women w suffer harmful consequences because of daily Fantasy Sports or fantasy gambling. Its a new and emerging form of gambling and a potential for addictive behaviors from that. Is that enough to make it illegal, to ricks point . Again, its not that it should be illegal. This is a form of gambling. It should be regulating. At its best its entertainment. Modern Day Entertainment that can bring people together. Whats important to me is that all forms of entertainment are regulated to protect consumers and businesses to make sure we have a really effective product that moves society forward. You mentioned all of the major leagues have had a relationship with these fantasy sport sites. Although a lot of them backed away since attorneys general started making noise about thth. Out . Regulation and clalification of where this is going. More and more people understanding that fantasy, as a communal activity whether moe bile or otherwise is going to evolve. The attorneys general are right. They need to protect their interests. If it is taxation, evolution. Again, the Media Companies have been driving this. Lets understand in the future Technology Companies will emerge to take it to the next step. Rick, tim. Thanks for joining us. Thank you you. A now a look at whats making news. As we head into a new week on the money a mixed employment report for january. The economy created 151,000 jobs which was slightly below expectations withhtrength in the retail sector. The Unemployment Rate fell to 4. 9 , the lowest in eight years. If you didnt like whatt the market was doing this week all you had to do was wait a day. Stocks were flat, falling or looked. Most of the week they as oil did. They fell on friday. Martin shkreli appeared at a capitol hill hearing on drug pricing this week. In spite of the fact he said little he infuriated many representatives with the smirk on his face and silence. The Company Acquired the rights to a lifesaving drug. He raisedhe price by 5,000 to 750 a pill. Later he tweeted its hard to accept these imbeciles represent the people in our goth. Vernment. Classy. With salaries expected to rise now may be the time to look for a new opportunity. There are some things you need to know before sending out your resume. Sharon epperson is here now with ideas on how to make the mos of your job hunt. Sharon, what are some of the trends youre seeingfin todays market and where are some of the hottest areas for hiri . Are low skilled workers are getting the training to get into higher skilled jobs. We talked about increasing wages. Thats another great sign for people. Whether they are currently working in a company or know they will be hired at a higher level of pay. Also seeing more diversity in terms of management. More women in the managerial ranks and more younger people. People under 30. The Career Builder survey that came out. They looked at areas where industries are adding more workers than the average number. And those Industries Like Financial Services and health care and technology, thats where a lot of folks will be seeing added fulletime workers. The hottest areas within that because just because you are i i Financial Services doesnt mean you have the job security. You ha to look at the areas that are the hottest now and there were areas le customer service, sales, production. Also l oking at Information Technology which is a hot area. If im actively looking for a job are there things i need to know about Digital Branding . Terms of social media sites . You definitely need a linkedin profile. You cant graduate from the graduate program without a linkedin profile. It is a way to sho case your work, have your resume there and of course to have a great picture, professional photo. All of these things are things people look at. The first thing an employer does is google you and see what comes up. You want that profile to be what they see. Are therehings you need to make sure you do . You want to know about the company. Do your research. Know what you can about the person interviewing you and the company about the Business Unit you will be a par of. Talk to as many people about that. Do research on whats happening. The news othe day. Sometimes you find out about changes in the daily paper that morning before you go into the interview. Do your research there. Also practice interviewing with friends, with colleagues, do also have critical questions. Come in there with things you want to know. You are interviewing them as much as they are interviewing you. E interviewers job makes sure you fit in with the company. Great advice. Thank you. Sure. Nasa has the help wanted sign out. Up next, how to land the ultimate new gig. Mary thompson found out if she had the r rht stuff. And valued over a billion dollars. A really smart guy who made a big mistake and decided torite a book about it. Week. Innovation and new ideas. To make change happen you need the people to get it done. Adam grant is a professor of management in psychology at the Wharton School of the university of pennsylvania. His back is originals, how nonconformists move the world. Me we talked to him about what it means and his research may surprise you. They are not necessarily the crazy ones. You dont have to be a round peg in a squarele hole to be original. Many originals hate risk. I think of somebody who founds a company and think they must have a huge risk tolerance. Who looks at that and doesnt want to look at the risk . It looks risky. But in their mind it is risky not to act. They have big ideas and what happens if they dont if give it a shot . Entrepreneurs who say i will keep my dayob before i go all in are 33 less likely to fail. Counter to what people would expect. Your heart and mind and soul to an occupation. Those are the stories we hear. A lot of successful entrepreneurs are people saying i want a backup plan and buy time to do the idea right. Look at phil knight. He started nike but started as an accountant selling shoes out of the trunk. If he had gone in right away he would have had pressure to get the product to market. Instead he built an extraordinary company. People watching at home might think how can i make myself more of someone like this or help my kids to develop some of these characteristics. What would you tell them . First, generate more ideas. The data show your first 15 ideas are less creative than the next 20. Most people never get to the next 20. They get hooked on idea one. I have to come up with 15 before a good one . The ten minutes people generate about 15 ideas for solving a problem or coming up with a new business. When theyre told you have five more minutes, think more. They have another dozen and they are more original. The first ideas are conventional. What made you start thinking about things, how did you test it and develop theories . I made a bad decision on warby parker. For people who dont know they sell glasses online and started with an online glasses business. They have been successful. You knew them well. They are now a billion dollar company. They were named the most innovative in the world by fast compan neil bloominthat will was in the first class i taught at wharton and i opted out of investing which was depressing. I was curious about why i was so wrong. That led me to dig into the research. What are the lessons you bring up in originals can we apply to personal life . Architects and lookk at them versus technically skilled but unoriginalal peers. One thing is their parents were much more likely to focus on values than rules. They said, look. These are Guiding Principles but we want you to have freedom. They were more comfortable saying this is what i believe in. Maybe not listening to nay sayers. It sounds like the idea of teaching kids to think, notot what to think. Exactly. I was a little surprised. There is evidence suggesting that parental conflt fuels creativity among kids. When your parents dont agree with each oh you have to think for yourself. Thats a horrible lesson. I hate to hear it. Im not saying to be screaming at each oh. The idea you have to be perfectly unified on every message communicated to the kids. You can still love each other. Teach your kids to challenge assumptions. I like that. Thank you. We appreciate you being here. Thank you for having me. Up next on the money a different kind of super bowl competition and a Small Business that cant afford to wing it. Later Mary Thompson learns to fly among the stars. Announcer its game night the only question that needs answering is what meal to make that everyone will love . How about an easy to make pasta with a medley of delicious florida vegetables . Pick up some fresh florida zucchini, beautiful golden squash, plump tomatoes, mushrooms, and garlic. Dice, saut\, combine with the pasta, and serve. Everyones a winner with this flavor packed meal. For more recipes visit freshfromflorida. Com. Look for the fresh from floridalabel when you shop you show up. You stay up. You listen. You laugh. You worry. You do whatever it takes to take care of your family. And when its time to plan for your familys future, you listen, laugh, worry. Care of your family. When its time to plan for your familys future, we are here for you. We are legal zoom. For over ten years we have helped families like yours with wills and living trusts. When youre ready, start with us. Doing the right thing has never been easier. Legal zoom. Legal help is here. Your path to retirement may not be clear. We can help guide your retirement savings. For over 75 years investors relied on our disciplined approach to find longterm value. Wherever your journey takes you, we can help you reach your goals. Call a retirement specialist or your adviser to see how we can make the most of your retirement savings. Inve with confidence. The super bowl is fast approaching this weekend. You know what that means. For one Small Business it is a big day. Kate rogers is here and has more. The competition will be fierce on the fieldnd in the kitchen this super bowl 50 weekend. Its not jt the teams that have something to prove. The one goal we are looking to break is our hourly volume to surpass 4,000. Last year we did about 3900. Matthew is out to top last years sales of 50,000 wings on super bowl sunday alone. All hands on deck at the store this weekend. Everyonenefrom his dad steve who is coowner to his wife marissa who is 8 mons pregnant and will be working. Earlier in the week he had 16,000 in preorders between his two long island stores. This year americans are set to eat 1. 3 billion chicken wings on Super Bowl Weekend which is big business for fast casual restaurants. Last Year National chain of Buffalo Wild Wings s sd more than 11 million wings on that the growth in the Restaurant Industry in franchising is across the board. The challenge for Small Businesses is ordering the right amount to keep up with demand. Wing zone has 4,000 pounds of wings in the cooler but they had to learn the hard way a decade ago. Our first year no one knew what to expect. The day was crazy. People waiting hours. We had to cancel orders. It was the closest thing to epic ilure you can think of. Wing zone took out an ad to apologize and sales jumped the next year. They have continued to climb ever year since. Just like players on the field he hope it isrep pays off. Aside from putting his pregnant wife to work how is he planning to beat the goal . They never want to stopp taking orders. Last year they tookbreaks. They bring on staff and they want to go nonstop the entire game day. The place will be hopping. I have a feeling. Solutely. Thank you very much. Thank you. A look at the news for the week ahead. Flying high. What it takes to mak it at nasa. This bale of hay cannot be controlled. When a wildfire raged through elkhorn ranch, the sudden loss of pasture became a serious problem for a family business. Faced th horses that needed feeding and a texas drought that sent hay prices soaring, the owners had to act fast. Thankfully, mary miller banks with chase for business. And with greater financial clarity and a relationship built for the unexpected, she could control her cash flow, and keep the ranch running. Chche for business. So you can own it. Welcome to the world 2116, you can fly across town in minutes or across the globe in uer an hour. Provide earth with unlimited clean power. In less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. And if you thought that was amazing, you just wait. If youre running a business, legalzoom has your back. Over the last 10 years weve helped one million Business Owners get started. Visit legalzoom today for the legal help you need to start and run your business. Here are the stories that may impact your money. This week well be seeing earnings from cocacola, disney and cisco. Monday, chipotle stores will be safety meeting. Well see results from the New Hampshire primary. Federal reserve chair janet yellin will begin testimony on the outlook for the economy and interest rates. On friday well see the strength of the consumer when retail Sales Numbers are released. Listen up. You have until february 18 to apply for one of the coolest jobs in the world or even out of this world. We are talking nasa. Lets head to the Johnson Space center in houston where the help wanted sign is out. As Mary Thompson tells us getting picked might be the easy part. Just as you said, nasa is cepting online applications for the 2016 astronaut candidate pool. It is expecting inging receive, nasa will get 8 to 14 candidates. They need three years professional experience in degrees in science, math and engineering. Once they are accepted they go to a twoyear Training Program mechanical and intellectual skills. I asked nasa to put me through the paces. Life in space is gruelling. 16hour work day that is include a mandatory twohour workout. Im supposed to run with this . Astronaut candidatesog or in my case walk as they will in space, tethered to bungee cords to keep themn place. Weighing bone density in space. Along with the physical they learn the mechanical. Got it. Simulats like this one train them to capture incoming car go ships for the internationale space station. What im doing now is getting ready for a virtual extra vehicular activity better known as a space walk. Candidates use gloves embedded with cenenrsensors to prepare for space walk where is handrails get them around the iss. Part of a twoyear program to get ready for their time in space. Some of the other training, underwater training and they have to learn a Foreign Language if they are assigned to the iss they have to learn russian. There is Mission Specific training. Keep in mind they actually dont fly until to 8 years after they start at nasa. Back to you. That was awesome. You rock. After the training what does the as ronaut make . They earn between 66,000 and 140,000 a year. It depends on experience. I hope you get picked. Thats so cool. Mary, thank you. I dont have that undergraduate degree. Anyway, thats the show for today. Im becky quick. Thanks for joining us. Next week if you and your valentine are planning to tie the knot its not just the love what you need to know before you say i do. Each week were on the money. Have a great week. Ill see you next weekend. Find fantasy shows. When it comes to the things you lovov you want more. Love romance . Get lost in every embrace. Follow every pitch, every play and every win. Change the way you experience tv with x1 from xfinity. And this is open house. This week, were taking a peek inside the homes of Fashion Designers. We visit designer peter soms stylish west village apartment. Veteran Fashion Designer trina turk shows us her glamorous palm springs pad. Kym gold, founr of True Religion jeans,

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