debate. the longest list of safe cars ever. show you the new 15 top vehicles getting safety ratings "early" this thursday morning, december 15th, 2011. captioning funded by cbs good thursday morning to you. i'm erica hill. >> i'm jeff glor. chris wragge is off this morning. i was thinking where we all watched the start of the iraq war almost nine years ago now. >> hard to imagine that, today, we are now marking the end. history, in fact, being made in baghdad with the u.s. officially declaring the war in iraq is now over. >> national correspondent jim axelrod is in baghdad this morning with more on the announcement. >> reporter: the end of mission ceremony that just wrapped up here marks the closing for the headquarters for the u.s. armed forces in iraq. within days, the last troops will convoy south to kuwait and the drawdown will be complete. ♪ >> reporter: in baghdad today, u.s. defense secretary leon panetta and james jeffrey and the top u.s. general lloyd austin paid tribute to the u.s. troops who fought here. >> today, in particular, we remember the nearly 4 thousand 500 grave americans who made the ultimate sacrifice for their country, as well as the more than 30,000 wounded warriors, many of whom still struggle with serious, life-altering injuries. >> reporter: the lowering of the u.s. flag today is different than other ceremonies held in iraq the last several weeks. this was not a handover to the iraqis. it was a closing of what has been u.s. military headquarters here for nearly two years. . somewhere near 4,000 troops left here with hundreds more leaving later today, compare that to the all-time high, 170,000. the army is down to two bases, at the height of the war, that number was 505. even 15 months ago, there were still 92 u.s. bases operating in iraq. secretary panetta saluted general austin for overseeing the massive drawdown. >> your effort to make this day a reality is nothing short of miraculous. this was one of the most complex, logistical undertakings in u.s. military history. >> reporter: at a briefing this morning, a general told reporters that he expects those last convoys to draw some fire, especially from iranian-backed militia operating in the south of iraq and why the military doesn't want to specify exactly when those last troops will be leaving. erica? >> understandable. are they talking at all about precautions to protect the convoys? >> reporter: they are keeping a close eye on the weather. they want to make sure they can offer a lot of air support and they need to make sure that everything is clear, so as the convoys are driving, they get protected from the skies, as well as on the ground. >> so much to take into account. jim axelrod, thanks. president obama has thanked u.s. troops coming home from iraq for bringing to an end the nine-year war which he called an extraordinary achievement. >> it's a big change for the president as senior white house correspondent bill plante tells us. >> reporter: this is a week in which the president has been celebrating the end of america's military role in iraq. now, it was a conflict that he originally opposed before the war began, he called it a dumb war. but there was no mention of that opposition when he went to ft. bragg, north carolina, on wednesday and saluted those who had served. >> welcome home. welcome home! now we knew this day would come. we have known it for some time. it was a source of great controversy here at home with patriots on both sides of the debate, but there was one constant, there was one constant -- your patriotism, your commitment to fulfill your commission. >> reporter: at the height of the war, there were more than 170,000 u.s. troops in iraq. almost 4,500 of them died there. and more than 32,000 were wounded. senator john mccain, the president's opponent in 2008 is a fear critic of the president's commitment to end the military presence in iraq. >> i continue to believe that this decision represents a failure of leadership, both iraqis and american, that it was a sad case of political expe expediency triumphing over military necessity, both in baghdad and in washington. >> reporter: the u.s. military exit from iraq stands in contrast to the continuing u.s. presence in afghanistan. still around 100,000 troops, but scheduled to draw down by a third at the end of next year. and in iraq, a large u.s. civilian presence will remain. >> iraq not a perfect place. it has many challenges ahead. but we're leaving behind a sovereign, sable, and self-reliant iraq. >> reporter: here at home, there is no sight -- or no end in sight rather to another ballots and that is the fight in the divided congress for the third time this year, the government faces a threat of a shutdown, because democrats and republicans in congress can't agree on how to pay for an extension of the payroll tax cuts. the latest from the republican presidential race. newt gingrich is surging in the polls and mitt romney is sharpening his criticism of the new front-runner. >> jan crawford joins us now with more. >> throughout the campaign, mitt romney has really stayed away from going hard at his republican rivals and kept his focus on president obama. in our interview yesterday, he took aim at newt gingrich and it was some of the sharpest attacks yet. >> talking about a friend -- >> reporter: the word mitt romney used most to describe newt gingrich was unreliable. >> i think newt gingrich has been an unreliable leader in the conservative movement. >> reporter: romney kicked off a litany of recent examples where he said gingrich betrayed conservative principals like climate change in his criticism of congressman paul ryan's republican plan to reform medicare. you emphasized that you're a person of sobriety and steadiness. do you think newt gingrich would be an unsteady president? >> well, i think you've seen in this election statements from speaker gingrich which suggest a level of unreliability and -- >> reporter: like what? >> well, the statements that the palestinian -- palestinians are an invented people. they are saying that paul ryan's plan is suicide, call it right wing social engineering. these things are not helpful. >> reporter: as romney and gingrich battle it out, president obama still has romney in his sight which signals he will be running a populous campaign, the people versus the powerful 1%. how will you respond to charges that you're just a wall street elitist? >> well, first of all, president obama is part of the 1%. he'll try and have people forget that, but a guy who plays 80 rounds of golf as president and has made millions of dollars off of his books and other appearances, he is part of the 1%. >> reporter: do you that i that line of attack makes you less electable saying newt gingrich doesn't have that successful business experience? >> his wealth is from working in pgovernment. he's a wealthy man. when you have $500,000 purchase from tiffany's, you're not middle class american. >> reporter: romney was referring to the millions gingrich made advising company including freddie mac which paid him $1.6 million. obviously, he has made a lot of money in washington. you suggested kind of off the public trough, you've made it in many ways the old-fashioned way. when we look at a general election campaign, is he electable? >> well, i do know that when the speaker said some years ago that anyone who profited off of freddie mac ought to return that money, that that's going to be used by the democrats to say hey, look. return that money and he is absolutely right. he should return the funds to the taxpayers. >> all of this comes with the key iowa caucuses about three weeks away and newt gingrich rising in the polls. guys, romney now has the gloves off because it's right around the corner and time is getting short. >> jan, thanks. we bring in at this point political director john dickerson who joins us from west des moines, iowa, this morning. the gloves have come off as jan pointed out. how is this tactic going to sit with voters? >> well, it's -- it remains to be seen. the problem for mitt romney is that voters have not embraced him. a tepid feeling about mitt romney all along and newt gingrich is taking these attacks in stride and kind of brushing them off saying he is trying to run a positive campaign. the key thing here is the time is drawing short before this iowa caucus. mitt romney is now saying that this is going to be a long nominating process, so don't be concerned if things don't look great at the beginning. he's in it for the long haul. so it looks like we will also see tonight how much -- how many of these attacks he brings up in this debate. >> john, it's not just mitt romney coming out hard against newt gingrich now. the national review coming out against him and other members of the republican establishment. did newt gingrich peak too early? >> well, in this campaign, it's been so funny. so many candidates who peaked to early. we saw rick perry, michele bachmann, herman cain. so he peaked probably at the best time he possibly could, but you're quite right. the deluge come down on newt gingrich's head in the national review wrote basically that, you know, this was an anti-endorsement. pick anybody but newt gingrich. too volatile and too self-centered. the problem for gingrich he doesn't have a great deal of money to sort of deal with this barrage of attacks and hope his standings in the polls are quite solid and voters see him as the best to be commander in chief, who knows the best in terms of who knows the most in terms of theishes and that can be a kind of shield against this barrage of attacks. >> interesting the anybody but newt but so long we have been talking about it. there is a new polling out this morning looking at new hampshire from suffolk university. that is new hampshire, though. when we look at iowa, if newt gingrich does very well in iowa, how does that change the game in new hampshire? >> well, it helps gingrich, first of all, because it gets him some money and a little bit of momentum. but it's a question really what -- romney bet essentially is that he's got a stronghold in hamp answer he has done the work in the later states, the way the delegates are proportioned this could be a long drawn-out battle. if the time is growing short before iowa, even if gingrich wins in iowa and gives him momentum, that romney does have places where he has strength in new hampshire and those later states. so we see a long battle here, a back and forth attacks, but that it goes on for some number of months even before we know who the nominee is. >> so get comfortable for a long ride. john dickerson, thanks. jan crawford, nice to have you in the studio too. trouble for florida a&m university. a hazing investigation has turned up more alleged wrongdoing. >> police are looking into a possible case of fraud. anna werner is live. >> reporter: the university won't comment on this but florida law enforcement officials tell cbs news the latest investigation is linked to financial irregularities and associated with a&m officials. the florida of law enforcement in a letter said its investigation into the death of drum major robert champion turned up new investigation. >> it's just a notification letter went out saying we are starting a second investigation. >> reporter: this marks the third investigation now under way into the school. on monday, tallahassee police charged three students in connection with the battery and hazing of a freshman band member. the drum's thigh bone was broken. >> she was beaten by hands, 50s, spatulas, metal rulers and book binders. >> reporter: bern stein says it was for initiation for a click called the red dog order. the group was formed by a&m marching band members from atlanta. former marching band member cokie is known as the baped's historian. how did a group started as a hometown club essentially wind up conducting such, apparently, violent hazing rituals? >> unfortunately, it's kind of like that book "lord of the flies. where you have young people, young minds that a lot of times are unmonitored and unsupervised. >> reporter: in fact, students have told cbs news they believe champion died after a red dog order raising ritual called crossing bus sea. but along the way, what happened? >> they punching you and beating you. >> reporter: all the way to the back? >> all the way to the back. >> reporter: do you think that is what happened to robert champion? >> if he was on bus c and that is where they found him, yes. >> reporter: now police are still investigating the champion case and they have not released any information to the official cause of his death. back to you. >> anna werner in atlanta, thanks very much. terrell brown is at the news desk for another look at the headlines we are following this morning. >> good morning. a new list of the safest vehicles for 2012 is out this morning. a record 115 cars were top picks. honda had 12 cars on the list including the popular accord. toyota had the camry and 14 other winners. the most on the list from the, a big reason the cars were given safety awards they are being made with stronger roofs. seven miners in idaho rescued last week when a rock explosion in a mine. one of the miners was taken to the hospital. the others were treated at the scene. and the white house released the first family's official portra portrait. the first family all photographed there in the oval office earlier this month. if that looks familiar, they took a similar one two years ago. time for weather still to come this morning on "the early show," san francisco will soon have the nation's highest minimum wage $10.24 an hour. good for workers but is it good for businesses? the last u.s. troops leave iraq, we will ask an iraq war veteran about all of the changes they now face when they get home. you're watching "the early show" on cbs. ♪ thank you. for what? when things were tough, you kept believing in me... you helped make this happen. thank you. 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>> it's sobering. it's reflective. i think it's very emotional for those of us who served and our families. i think we think a lot about the folks we lost. in my unit, it was christmas eve 2003 when we lost sergeant major eric cook to an ied attack so we are reflective and thinking deeply about the time we served and also just happy to have our friends coming home, our families are extremely happy to be spending the holidays with so many folks who served so much, so it's a really historic time but time for a lot of deep talk. >> some of that's deep talk involves everybody coming home. a wonderful time for it to happen at the holidays, of course. yet, vets are facing many challenges as are their families when they get home. what do you think the biggest hurdle is for american servicemen and women as they come home and they try to get back to, quote/unquote, normal? >> right now, the biggest challenge that our members face is unemployment. we see about 20% unemployment rate for our members nationally and some states like michigan it's over 30%. i think what is important for folks to realize the war is over but the battle continues. our veterans coming home to the toughest economy in decades so our message for folks around the holidays we need you to step up and support our veterans. don't turn the page on iraq because they have pulled out. a great thing you can do is hire a vet. they are dynamic and strong and help like they did overseas. >> programs the government has launched to push for hiring more vets. for some of these folks, they are coming home but there is still plenty of activity happening in afghanistan and they could be sent over there. >> that's a part of the new normal for our military folks. i mean, more than a million of them have served more than once. they continue to redeploy. and we're also extremely concerned about the rising suicide rate. last month in the army over 29 active duty suicides just in the army alone so there is tremendous mental health stress and a real family stress that continues year over year. >> the divorce rate is the highest in more than ten years i read recently. as vets come back and do try to restimulate to get back into family life, what is the most difficult part there for them? i mean, what do they need when they come home? >> well, i think they need a whole community of support. they need mental health support. they need family counseling sometimes and they just need the entire community to really rally around them. we're really concerned as veterans group that america is just going to move on and close the page and forget about it. what we need all americans to do right now is double down their effort, don't let us repeat the mistakes of vietnam, support your community nonbased nonprofits helping and step up and support veteran groups and volunteer in youyour community. >> that has been an important message i would say even since the start of the iraq war. no matter how you felt about it and how important it was to support the troops both here and at home which has been a nice change. talk to me about one of the positives you've seen in terms of how people are helping veterans when they do come home. >> you know, i think we have turned the page on vietnam in the respect that we have learned policy.rate the people from the we have learned to separate the war from the warriors. when vietnam war vets came to was so different than what we came home to and that was a real national embarrassment. i think we've turned that page and now see people supporting us in every way at the local level and that is a good step forward. we have to keep up that numt and we have got to try to make every day veterans day. that is our goal at iava and i think the goal for all americans not just around holiday times but the next few years as these struggles continue. >> a pleasure to have you with us. thank you. >> thank you. here is terrell brown at the news desk with a check of today's other headlines for us. good morning. a record number of americans, nearly half, live in poverty or classify as low income. the low income threshold for a family of four was $45,000 in 2010 and 97 million americans fell into that category. another 49 million fall below the poverty line. that is 4 million more than 2009 and broken down by age, children are less likely to be poor or low income. if lawmakers can't agree on a new spending deal the government will shut down at midnight tomorrow. senate leaders are holding up a budget deal until extension of a payroll tax cut is evolved. flood in new zealand. 17 inches of rain fell in 24 hours and sent raging water and mud into towns and part of a highway was washed away by a landslide. same deal elsewhere. floodwaters washing through columbia during its rainy season. cars were swept away. up next, a historic moment for a historic city. san francisco. >> the city by the bay will soon have the heightest minimum wage in america. great for workers but can businesses afford to pay those wages? 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>> no. because the cost of living is very different in different places in the country. in san francisco, it is very high so a minimum wage of $10 is not at all high relative to that cost of living. >> reporter: like san francisco, ten states tie increases in the minimum wage to the cost of living. on january 1st, washington's rate will climb to $ 9.04, the highest of any state but $5.15 an hour georgia is one with lowest minimum wage. dan says his minimum wage workers are waiters that make more on tips this on wages. but as wages rise, so do other costs. >> there is a ripple effect. not only the wange goes up. all told it's like a thousand dollars an employee. >> our message is you can't have it both ways. you can't put people back to work and have a growing employment rate and the highest minimum wage and the highest government mandates in the country. >> some businesses do say that in this economic environment, a minimum wage increase is particularly hazardous. but they forget the other side of the equation. when you have people who have a little bit more money in their pockets, they turn around and buy more. >> reporter: while business owners suggest san francisco is out of step, the city may actually be leading the way. a recent poll shows two-thirds of americans favor a minimum wage of $10 an hour. john blackstone, cbs news, san francisco. up next here, we have all heard of spring fever. now a psychiatrist from harvard says it exists and a whole lot more. seasons affect our mood and behaviors and he will help us manage all of that. you're watching "the early show" on cbs. card, you get 5% off, right? 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[ major nutrition ] ensure. nutrition in charge! whatrun...hat? it's the monster.... ahh, ah, no ♪ ♪ most of us can feel when that mood change is coming on but you always know why it happens. turns out -- i'm looking at you smirk. turns out the season has a lot to do it. >> very interesting stuff. dr. john sharp written a book called the emotional calendar and here to talk about getting your seasonal mood swings under control. welcome. >> thank you. >> it turns out a lot more to it? >> absolutely. you can take a seasonal approach like i advocate on "the emotional calendar" to see how the seasons affect you. it's because of a lack of light. so i recommend people look into the light and temperature and another is a man-made cultures of the season you buy into what we should be doing this time of the year. the third one is your past experience and what you're conditioned to expect based on what it's been like for you at different times of the year. >> for many people this is -- talk about a range of emotions this particular time of year. for some people, winter and the holiday season is the best time of your year but for others it could not get worse. >> it's almost bipolar. people have expectations from childhood and typically they are good ones. holidays are wonderful and filled with cheer and easy and special time away. as adults it's count intuitive but as adults end of wrap-up stuff and pressure and things we wish we could be doing but don't. alcohol use i creases this time of year and something called the holiday blues which is part seasonal disorder and depression doesn't pique this time of year. that piques in january. >> everything is over the high of the holidays, the expectations you had. >> there is a let-down and you pull yourself together and credit card statements come aroun. suicide peaks in april which is not a time you'd expect. >> because? >> well, usually if you've been hanging on by a thread all winter long, the last thing you can hand is the birds are out chirping and it's sunnier. but i don't want listeners to think the emotional calendar is all about negative stuff. >> in terms of trying to keep it positive, what do people do now to manage those emotions? >> this is the thing. think seasonally and think in the three dimensions what is affecting you man-made or culture or personal. look for positive spots on your emotional calendar. find the time. the people that you enjoy being with and make sure you put some energy, you know, in that direction. have time for yourself. don't put yourself last. don't think you're not ready. don't think you can't do it and don't take the easy way. we can all do better and it's easy when you stop and realize how you're being affected. >> i know we can do that any time of the year. is there one particular time of the year that is best? >> there really isn't unless you know that's true for you. you're a summer girl and winter guy it depends. the fall, people love the fall, back to school, people hate the fall, they want to be in the summer. figure out who you are, that's the point. >> i like it. we could chat a long time about it. >> thank you very much. it's my pleasure. >> thank you, doctor. >> happy holidays and the winter. why is warren buffett so good at picking the right stock? those answers ahead. >> it takes the right time of the season. 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(greenery) who's the new guy? edible arrangements bouquets, beautiful like flowers, but unforgettably delicious, visit, call, or go to ediblearrangements.com ♪ welcome back to "the early show," everyone. it is 8:00 on a thursday morning. i'm jeff glor, along with erica hill. chris wragge is off today. coming up here, the trouble with flood insurance. any kind of disaster coverage can get tricky. the fine print in your policy can mean the difference between having the money to rebuild and having nothing. we're going to visit a california city with argument over the cause of a flood disaster is leaving many policyholders high and dry. >> we saw that from katrina with the cause, was it the wind or the water. thanking to new technology more are using mobile phones to make deposits and withdrawals. it we will take a look at that and other top banking trends like cutting edge software to verify who you are. the rise of social media and changing the banking world and turns out it's good if you're under 30. we will explain why. here is terrell brown at the news desk with a check of today's other headlines for us. the american war in iraq is officially over. and end of mission ceremony held this morning in baghdad closing the u.s. headquarters. the nearly nine-year war cost more than $800 billion and toot lives of nearly 4,500 u.s. troops and another 32,000 wounded. secretary of defnse leon panetta set the sacrifice put iraq on the path to democracy. >> a lot of blood has been spilled and a lot of sacrifice is made. that iraq is in that position. they now have the punt to move forward. and be able to secure and govern themselves. >> at one point 170,000 american troops in iraq. today, about 4,000 troops. they will all be bone within days. gone within days. the massive spending bill is being held up as lawmakers wrangle over a deal to extend the social security payroll tax cut. putin dismissed allegations that recent parliamently elections were rigged. putin accused the u.s. of wanting to dominate other countries and said the world is tired of taking orders from washington. seven miners safe this morning after an accident in northern idaho. one miner taken to the hospital and others treated at the scene. earlier this year two miners died at that mine in separate incidents. the latest auto crash test results out this morning for new cars. 150 cars were named top safety picks which set a new record and they performed in all of the insurance institute for highway safety tests including front, side, rollover and rear test crashes. toyota had 15 as the winners and honda had 12 on the list according the accord. stronger roofs made many of these vehicles safer. one of the smallest babies ever born is celebrating her due date today. back in august the baby was born so small she fit in the palm of her doctor's hand! she was 16 weeks premature and weighed more than half a pound. new she weighs over 4 pounds and doctors say she could go home by new year's. she weighed roughly the same as two ipods stacked in your hand together. an amazing story. time for weather. now announcer: this portion of "the early show" sponsored by party city. nobody has more holiday for less. if you want to follow the strategy of a single stock investor, 50 billion reasons to choose warren buffett. >> give or take. his former daughter-in-law mary buffett is an expert on his stock picking. mary buffett joins us here. nice to have you here. >> a pleasure. >> first of all, for anybody it's a quick read. you will give us a synopsis this morning but everything seems very understandable and very much about common sense. i would say one take -away for e is patience. how much does warren buffett's success have to do with patience? a lot of it. everybody can invest like warren buffett if they stick to his principles of investing philosophy, if they have the discipline and most people don't. i always wonder why because it's not rocket science and why we write simple books. >> we like this, gratification. >> a huge part of it is the discipline, right? warren's ideal time frame for holding a stock is forever. most people can't do that. >> it is and it isn't. i mean, in 1969, for instance, the nifty 50, the 50 of the u.s. biggest growth companies, people thought if you invested in them and held them, you'd be safe forever. what he saw is when those stocks were being extremely overpriced and knew their earnings could never catch up to their current price, he sold them. and he sat on that cash and waited patiently for the 1973 market crash and then he stepped in and bought at bargain prices. >> which is one of those famous sayings. warren buffett says when everyone else is scared, i'm buying and when everyone else is buying, i'm scared. >> when people are successful, be greedy and when people are fearful, be greedy. >> that is what you try to do? >> that is what you try and do. he is buying when people are selling and he sells when people are buying. >> we spend so much time looking at the dow jones industrials and watching the daily moves on wall street. that isn't something he uses as a barometer. isn't it true he ignores all of that? >> yeah. i think one of the great things that allows him to be patient and disciplined is the fact that he has removed himself from the banter of wall street and he focuses looking for companies, which we should all do, kind of like knowing the girl that you want to date in high school but she is dating somebody else. >> you lie and wait? >> you lie in wait. >> you're there to pick her up when she falls down! >> know the companies that are foundless. >> his three basic models for company. the first one being? >> a durable competitive advantage, which is really so simple. it's durable. it's a company that makes things now that are probably going to be around in ten years. an example is. >> razors. > coke. gillette. coke and macaroni and cheese. i really doubt they are going to change much in ten years from now. and then part of the durable competitive energyists, understanding what the company does. warren bought real roads and low cost providers like costco and railroads. not going to have to morph and reinvent snechthemselves. get a chance to take the profits and put it back into the company. third is the low cost provider. the consumer monopoly. you know? you might say johnson & johnson band-aid is a registered name and when you use the word for the name of an adhesive product, you say get me a band-aid. it mate be brought a walgreens brand or a kleenex. it my be a tissue you bought at costco but you say give me a kleenex. you know then you own the consumer's piece of mind. >> mary buffett, thank you for coming in. >> my pleasure. ahead, why you can't afford to ignore the fine print when it comes to flood insurance. >> one city in california are tell insurers we don't have to pay. you're watching "the early show" on cbs. captain, we have to keep going! 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[ femala $100 cream. we were flattered when regenerist beat flabbergasted when we creamed a $500 cream. for about $30 regenerist micro-sculpting cream hydrates better than over 20 of america's most expensive luxury creams. fantastic. phenomenal. regenerist. it attends wrap parties... with the crew. there's nothing like the taste of the big mac snack wrap. but hurry. it has places to be. ♪ but hurry. it has places to be. you buy insurance so you'll be protected, right? when there is a disaster. here is the thing. not all policies or insurance company are equal. >> you can be affected by the same event and get different responses from their insurers. julie watts of our san francisco station kpix hat story. >> oh, my god! >> reporter: for many in capatola it seems like a wad dream. while the coastal community is no stranger to flooding there time there was no warning. >> it usually comes up from the ocean or up from the river and plenty of time to sandbag but this was not the same. >> reporter: engineers blame an old pipe when broke during an average sized storm. >> the next day we shoveled mud. all you did was shovel mud joot following day a larger storm rolled in and no pipe to control the water it turns the village into a lake. in its wake, a city filled with mom and pop shops already on the brink. >> it was very emotional for a lot of people down here. >> reporter: realizing the flood was the beginning of their nightmare. fema denied believe and so did many insurance companies. >> the flood insurance was going to pay off but the insurance company says i think it was a broken pipe. then turn to the liability. no, we think it's a flood. >> reporter: during the flood, kara hannah was one of the lucky ones. for others. >> it basically broke my back. emotionally and financially. >> reporter: david ross isn't talking about the flood. he is talking about the damage the flood lost in its wake. his dreams of his happy store have been crushed and his savings repairing flood damage because allied insurance denied his claim and he is not alone. this gallery's claim was denied by allied a subsidiary of the fortune 500 country nationwide. >> nationwide on your side? not in this instance! >> reporter: both policies were reviewed for us along with amy bach. how is it possible that two insurers can come up with two separate findings for the same disaster? the primary deficient they say caused the loss. allied initially denied the claim stating the damage was due to surface water. the policy seclusion. but engineers point out that surface water was caused by a broken drain pipe. >> the water would have been controlled had the pipe not broke. it's really due to pipe failure. >> reporter: clark stoner says those findings have been widely reported and when it comes to damage due to pipe failure. >> that is a covered claim. >> reporter: when the kincaid gallery reminded allied the water damage coverage in its policy the company sent a second denial this time citing what experts say is obscure clause that limits coverage ten days before or after a flood. >> which is when you're most likely to have this exact loss. >> reporter: manion says in 34 years he has never seen coverage that limits drain pipe damage before a flood since drain damage is likely to cause a flood. >> that is hidden fine print. >> reporter: bach points out allied or any other insurer would have to prove it previously made it clear to the policyholder. we brought this to allied's attention and pointed out it only limits coverage for sewers and sump pumps, not drain pipes. allied's response? the facts do not support the cause of the flood was mechanical failure of a pipe. >> the only thing you can do is sue them. >> reporter: back at the happy shop that news is heartbreaking unless he sues allied, david ross is out of options. david has now decided to sue allied. advocates advise him taking a big insurance companies hire a policy lawyer with an insurance background who agrees to work on contingency. >> anything specifically that consumers can do to protect thel themselves here? >> reporter: this case demonstrates the need for a good agent or broker to help you pick the right policy to begin with and somebody should have noticed that clause in the policy and a good agent should fight for you when you need them. there were many positive stories about insurers going above and beyond for people in capatola and prompted some to switch over to those insurers. advocates warn against that say you can't predict future performance based on past performance. they may not necessarily pay out following the next disaster. >> interesting to think about that. julie wats of kpix, thanks again. ahead, you can bet your bottom dollar. an annie is here. >> we will see how a new technology from buy moiomet rib feeling a different generation. we can design our own plan to avoid interest by paying off diapers and things each month. and for the bigger stuff, we can pay downalance faster to save money on interest. bigger? bigger. chase slate with blueprint helps you save money on life's little surprises. trip...lets... start your path to saving today, call 855-get-slate. ♪ innovations in technology are making a revolution in the way we bank and pay for things and today a new report is predicting the top trends in finance for 2012. >> here with a look at the brave new world of banking and how it affects you, financial contributor carmen wong ulrich. social commerce is king? >> this whole report was by javelin. we picked our two top favorites. on facebook you see the major retailers are putting discount codes and pop-up sales but also smaller retailers, small business have pop-up shops going up there. we use a platform called pavement. it's more than just shopping on facebook. it's virtual gaming and virtual currency, gift cards, digital downloads as well. facebook is going to become social media in general the place where more and more commerce is going to happen. >> what is the shift to gen-y? >> we have shifting to that in terms of banking. i've been here talking about the big bank transfer movement. one person was upset about debit card fees and managed to get 300,000 signatures online. the force of gen-y in terms of consumer complaints and feedback to the banks is huge so they are a big driving force in banking going forward. >> you say -- not you but one of the trends here is credit cards are back. we have talked a lot about using a credit card over a debit card for security reasons. is that why? >> here is the thing. the push this quarter why things have shifted to more credit card use some of it has to do with what the banks are doing. they are encouraging folks to use credit cards. the amendment went into affect in october. half of the fees they were getting from merchants every time you swiped your debit. that will cost the banks this year $6.6 billion in revenue. they have to make up for it. they are finding that credit cards have become the more profitable product for banks so there will be some shift there. for consumers we have talked about the advantages of use a credit card. the danger is the folks who should not be using a credit card may use it again and we see the revolving debt is rising this quarter. >> don't get one with a 25% interest rate. >> how about 29.99? >> unbelievable. biometerics and i.d.? >> voice recognition. voice technology. retinol scans. fingerprinting. face recognition. all of these things are being developed in terms of authentication to prevent fraud with your banking. actually at the forefront of this if you can believe it is a credit union, desert field credit union and putting voice recognition technology into their online banking. shift is good and consumers are trying it. they found 49% from javelin found they believe that biome r biometerics is open and others are open to it. folks are seeing this as a way i'm afraid of banking online about but if you make sure it's me doing it, then i'll do it. >> i have a buddy who put new doors in and had the fingerprint thing put it. >> i'm up for it. if it means nobody will make it into my account, i'll do it. >> geo location is really big? >> right. you know you have the coffee finder and all of these things on your phone. about saying here are coupons for a retailer down the street if you're looking for some kind of product they can find you and pinpoint your location and say, okay, here is where you want to shop to save money. that is going to have a lot of growth in 2012. >> people love that pen. >> carmen, thanks. ahead, the golden globes. stay with us. ♪ welcome back to "the early show." the busy streets of new york are getting a poetic touch. new street signs are meant to be a safety message for pedestrians and some of them are also now quite funny. we will see what people think this morning and take a look at more of those. the golden globe nominations ahead this morning. minutes away at this point and the awards cover movies and tv and comedies and drama and give a hint how the academy awards will turn out. we will find out who is in the running for best actor and actress and whether a black and white silent film will compete with the big budget block busters and one of the movies expected to get golden globe consideration is my week with marilyn which is getting considerable oscar buzz as well. >> the film explores marilyn monroe's week. joining us is the director of "my week with marilyn" simon curtis. colin clark was the third assistant director on the film? >> yes, he was. and his first job. >> he struck up this extraordinary relationship with marilyn monroe. what brought you to this movie? >> i read the memoirs that he wrote about this experience. he said as a young man who got the golden ticket in his first job not only to star on this fi film, but during the making of the film had a loved charming relationship with her during the making. >> turned it into these memoirs and turned it into something. there has been so much talk, though, about the film and how -- harvey weinstein was with us last week. upbeat time in her life, obviously, a lot of else going on. you said you read the memoirs. what was it about this relationship you wanted to be a part of it? >> i think it's every young man's fantasy they spent a week with marilyn monroe. i can identify with that. that's right. obviously, michelle williams plays marilyn and i was so excited she would play the part. she finds that the -- complicated marilyn but so brilliant to the sex scene of marilyn and this is a song and dance marilyn and see michelle with marilyn singing and dance wag exciting. >> why did marilyn monroe want to work on this movie. >> >> they she wanted to come to england to work with the great olivier. i think she came to england hoping working with olivier would give her great credibility? >> then he regarded her as a mess? >> i think they were talking a lot of different languages. it's about two countries divided by a common language, if you like. they were in different places in a sense. and i don't think, you know, he supported marilyn quite as well as he might. >> do you think there's a change in interpretation for the audience of who marilyn monroe was after watching this particular moment in her life? >> well, as i say, she wanted to be taken seriously and i hope the audience would take it seriously. it's so interesting to so many people. marilyn is a famous name and even more famous face and they aren't necessarily a lot of young people familiar with her performances. and i hope our film will encourage people to look at her brilliant work and encourage people to consider her more seriously. >> you're dealing with a number of different men and their relationships with marilyn in this movie. colin clark and olivier and arthur miller. was marilyn monroe aware to the extent to which she was messing with so many minds? >> i don't know. i think she, obviously, has a great power over men and i think that was part of her technique, you know? and what is interesting is so many of the men in marilyn's life were very famous, high state and influential men. this is a rare example of her showing an interest in anyone younger than her and less influential than her. >> michelle williams, been so much said. she is incredible in the movie. but what was it like to work with her some she seems like she would be such a joy for a director to work with. >> exactly right. she is a joy. i was so lucky that she read the script and wanted to do it and i met her and i just prayed she would want to do it because i couldn't imagine making the film without her. >> is it tough to take on? you said so many people have this vision of marilyn monroe and who she is. i would think one of the challenges for you and michelle williams is not making this a caricature and not making it i'm putting myself in marilyn's body but -- >> but i was drawn to michelle as an actress. she would never do a caricature and she is a skillful actress. she not only hits the implicated prize of marilyn but the fun and sexy and the comedy actually. >> simon curtis, thank you for coming in. good luck with the golden globe nominations that are coming up momentarily. >> thank you very much. >> terrell brown with one final check of the headlines on this thursday. a record number of americans, nearly half of the adult population live in poverty or classified as low income. the thresh eled for about 97 million of americans fell into that category and 49 million fall below that line. all of that according to the census bureau. disturbing new numbers this morning on violence against women in the u.s. the centers for disease control and prevention said nearly one in five women have been raped at least one, one in four were violently attacked by a partner or former partner. in colorado, cowboy was arrested and tased for ignoring the orders of police. the guy rode his horse through several downtown businesses sunday. did i mention he road his horse? through several downtown businesses. this is all in steamboat springs. he tried to get some drinks in the bar you but the owner showed him the gore. then he and another galloped into a safeway grocery store and one bought some stuff carrying a plastic bag. we talked about dumb crooks yesterday. thes we are about to hear the nominations for the 69th golden globe awards. every year, the hollywood foreign press association honors the best in film and television. >> and they are usually a few surprises. making the announcement moments is rod butler and woody harrelson and rashida jones and sofia vergara. we take you to the beverly hilton hotel and see the announcement of those nominations because the awards will be given out a month from today. the golden globes people love it because it's as you look forward to that ceremony in a month they tend to have a lot of fun. >> yeah. they absolutely have a lot of fun. we need an invite to this. >> can you work on this? >> we will try that. no, it is. it's one of those mornings where you start to get excited about it because this is when it's serious and they will make the announcement right now. we just talked about my week with marilyn and see if that gets nominated as well. the artist, i thought was great. >> it's an amazing film. a lot of talk about that. with us is dave carter. you will help us break this down. we are ten seconds away from the announcement. dave will be with us as soon as we hear them to weigh in a little bit more on what we are hearing so let's take a listen now. >> golden globe announcement. >> welcome to the nomination announcement for the golden globe awards. with us morning are rah hida jones and gerard butler and sofia vergara and woody harrelson. please get your started, rah hida. best performance by an actor in a miniseries or motion picture made for television. best performance by an actor in a television series drama. best television series drama. best performance by an actor in a motion picture, comedy, or musical. >> best performance by an actress in a supporting role and a motion picture. baho the artist. jessica chastain, the help. -- mctier and albert knobs and octavia spencer, the help and shalene woodley, the descendents. best performance by an actor in a motion picture drama. george clooney "the descendants." leo gnar dough dicaprio, "j. edgar." ryan gosling and brad pitt. >> did you leave one off of there? >> it's so weird. it was here but they x'd it out. i don't know what that means. best motion picture in a comedy or music. 5050. the artist. bridesmaids, midnight in paris, and my week with marilyn. >> thank you. >> best performance by an actress in a miniseries or motion picture made for television. [ inaudible ] the hour. diane lane [ inaudible ] and elizabeth mcgovern, masterpiece. emily watson appropriate adult. kate winslet. best performance by an act dress in a supporting role in a motion picture. kenneth brana, "my week with marilyn." jonah hill "moneyball." christopher plummer, "beginningers." best director of motion picture. woody allen, george clooney, michael fassbender, alexander payne, martin scorsescorsese. >> best performance by an act dress in a motion picture drama. glenn close, albert knobs and viola davis, the help, rooney mara, the girl with the dragon tattoo, merle streep, the iron lady. tilda swinton, we need to talk about kevin. best performance by an actress in a motion picture, comedy, or musical, jodie foster, carnage. charlize theron, young adult. kristen webb, bridesmaids. best motion picture drama. ram part opens january 27th. but i don't see it on the list here. a lot of things left off today. i just want to say. okay. "the descendants." "the help." "hugo." "the ides of march." "moneyball" and "war horse." >> congratulations to all of the nominees. don't forget to join us on sunday, january 15th, for the golden globe awards, live on nbc. >> we want to take a look now -- i love sitting here listening to these. your reaction is great. woody harrelson throwing in a promo for his upcoming movie. how does that fit with the golden globes? >> he had a good shot at getting nominated. i think if there was one more slot no best actor in a drama he would be nominated for "rampart." but instead they put in others. >> the three of them in that one category, george, leo, and brad, they don't need any last names. how about that? >> the golden globes love to nominate the big stars but none of those three are a stretch. those three have been in the awards race all along. incidental about a half hour ago they did the minor categories announcements and one of the nominee was in the land of blood in honey which is nominated for best foreign film and directed by angelina jolie so she will be there as well as a nominee. >> i think ryan gosling in that award and ryan is getting a lot of attention. >> "shame" he plays a sex addict. a daring performance. ryan gosling was nominated twice. "the ides of march." got several nods. a movie had been fading in the overall award season but had a good boost today and other big winners was "the help" and three of its cast members. as well as the artist which is movie that is rolling out now. you were talking about it and one of my favorites of the year. that probably is going to sweep the musical or comedy category. >> it's very funny. >> it's a great film. >> big hits in those comedy categories. "bridesmaids" got nominated. >> and kristen, which we both love. >> this scene in particular at the shop you can watch over and over again. dave, stick around. one more segment and talk we're back talking golden globe nominations which we just heard dave carter in "entertainment weekly" is here as well as simon curtis, the director of "my week with marilyn." congratulations to your nomination. >> three nominations. >> a film i'm very very proud of michelle's performance and ken's and i have to say my wife is also nominated so i was excited and grateful. >> we have video of you watching the announcement. as we roll that. >> let's get your reaction here. >> here are you listening in. was that a yes or was it for marilyn or for your wife? >> i think that was for elizabeth. i'm ecstatic for michelle williams. she worked so hard. she is so brave in taking on the part of marilyn and deserves everything coming her way. >> she is going to win. going to win that category. >> i would love that to be the case because no one does it better more. >> it's great. we talked about the other artist six total nominations "the descendants" and "the help" each have five and three for "my week with marilyn." >> as far as films that got absolutely nothing, "the tree of life "has been picking up a lot of early awards and buzz that brad pitt was in, that got nothing. "the muppets." i was hoping they would get nominated. >> i hope they participate in the golden globes. >> unfortunately, the songs didn't even get nominated but best of song at categories elton john versus madonna and mary j. blige which will be great. >> a match we would love to see. tv, we didn't talk about that much. >> the golden globes love to anoint new homes. "homeland" did very well. "big bang theory" did quite well. i'm surprised was melissa mcarthy did not get nominated for "mike and molly" or for "bridesmaids." >> and "good wife" did as well. they really kind of spread it out. revenge did well and a lot of new shows managed for pick up some nominations. >> one of your actors got a nomination as well, kenneth brana. >> he was brave in taking on part of owe llivier so he deser the claim coming his way too. >> what is it like to sit there and listen to that? it's only been two minutes. >> best two minutes of my life. i'm very grateful. it's such a competitive year and so many great films out there. for the film to be in play at all is a great honor. i like the comedy musical -- i do hope the film is entertaining. i've loved hearing people laughing when they see it and i couldn't be prouder. >> i was going to ask you about your wife, elizabeth mcgolfern. she is somewhere else this morning. but you're in touch with her. is that something you were expecting for her? obviously as support of husband. >> i hoped for it because she has lived in england 20 years and so exciting to see her home country supporting her and i think she deserves it too. >> dave, is the oscar race now been adjusted? >> a little bit. i think the people who vote on the golden globes are separate from the oscars. i think what this does is help focus it a little bit and i do think movies like "the artist" and the help and descendants and hugo are the front runners in the race and they all did very well today. >> great to have both of you with us this morning. congratulations, simon and send our congratulations to elizabeth as well. dave, more to do with you in the next couple of months as we look forward to handicapping this at bank of america, we're lending and investing in communities across the country, from helping to revitalize a neighborhood in brooklyn to financing industries that are creating jobs in boston or providing funding for the expansion of a local business serving a diverse seattle community and supporting training programs for tomorrow's workforce in los angeles. because the more we can do in local neighborhoods and communities, the more we can help make opportunity possible.