tv On the Money CNBC December 3, 2016 5:30am-6:01am EST
>> hi, everyone, welcome to "on the money." e-mails, almost everyone uses it for work and play, but there are hidden dangers. how to protect yourself and make sure what you send stays where you want it. join us, the growing trend of retail membership. we're not talking amazon. you pay a fee, you get discounts, but is it worth the price of admission neighborhood, he's a world renowned chef with a remarkable story. meet him and his recipe for success. the hot holiday toy you can't find. we have one. we will introduce you. >> yes, i really want one.
>> "on the money" starts right now. >> this is your money, your life, your future. >> we begin with e-mail at work and at home, it's a part of daily life for most people. e-mail hackers are a big story this election cycle. you may not consider how calf you should be before you hit send. andrea day has this week's cover story, protecting your privacy. >> i was getting 2 to 4u6789 e-mails a day, it became a distraction. >> he's the ceo of tommy john, the underwear company. if you need to reach him, don't send an e-mail. >> i no longer check them. if you need to get ahold of me, send me a tech message or stand up and walk over to me. >> reporter: his strategy started long before wikileaks begin drifting out information.
it was his first year out of college that made him rethink e-mail forever. >> a girl i worked with screening, oh my god, oh my god, she sent something shy regretted. i sat next to her and thought, gosh, i never want to have that feeling. he had it right from the get go. "unsubscribe" is about the benefits of cutting back on e-mail. >> i think we have this feeling of safety and security with e-mail for a really long time, and now that bubble is being burst. >> reporter: burst she says after wikileaks released batches of hacked e-mails from inside hillary clinton's campaign, affecting some americans with e-mail anxiety? it made me feel as a citizen that perhaps we are more vulnerable. >> i'm thinking of looking that software that inscripts your e-mails. >> i have always been very concerned about where my e-mails might end up. >> reporter: like patterson, many people use e-mails
sparingly if at all. ceo chase jamie diamond keeps it short, sometimes down to one word. investor carl icahn rale rarely uses the service and warren buffet relies on an assistant for his messages. >> everything can be exposed publicly and we need the take that security. >> patterson says he's already seen an impact. >> it empowers the people reporting to me to be more than direct. >> few have any doubt at all, don't send an e-mail, come back to it later and then decide, or better yet, have a face-to-face conversation, especially for something confidential. >> but, of course, e-mails seemed leak a private correspondence, can you expect any privacy when you send one and are there steps to protect yourself and your messages? a director at the privacy center, thank you for joining
us, good to see you. >> hi, thank you so much for having me. >> when you are going in to type that e-mail, should you assume that anything you write could be exposed? >> yes, i think it's wise for americans to understand their e-mail privacy threatens a variety of strierngs in addition to identity thieves and hackers the government and our e-mail service providers are compromising the confidentiality of messages that we intend to be private. the e-mail service providers like gmail andrea hoo. >> what are they scanning for? if have you gmail andrea hoo scanning what are they looking more? >> greg, gmaim one of the most popular web mail service, regularly and systematically scans all of the incoming and outgoing for gmail users to extract context for target purposes. then they combine that data with your search history, your web
browsing, what you have watched on youtube. >> you mentioned the government. just this week, we saw the fbi got expansive new powers remotely to hack into individual's computers and phones, that a privacy threat? >> absolutely. law enforcement has unfortunately quite a few tools available to them that hey allow them to compromise the privacy of our e-mail communication. now the new criminal procedure rule that you mentioned rule 21 allows really broad parts to remotely hack into countless e-mail accounts to search for all sorts of information. >> most people who are working know that your employer has the right to go through and look at what you are doing on the computer, that also includes your personal e-mail account, but privately on your private computer and on your mobile device, how do you protect
yourself and your messages? >> there are a few basic stuff that every consumer can take. so one of them and this is true for any sort of online account is have a strong password and to not use the same password across a variety of accounts, using two factor authentication is an important added layer of protection when it comes to preventing unnecessary hacks into your accounts. >> thank you for joining us. >> thank you so much. >> the booming business of legal marijuana is one of the fastest grooe growing industries in the united states. sales expected to hit $5 billion and contribute 17 billion to the u.s. xhichl our kate rogers has more from denver on the challenges of finding workers as the industry comes out of the shadows. >> cannabis has been a gold mine for andy williams and his company medicine man. he started a small family
business in 2009 and now runs nine separate marijuana-related ventures. he's manning to expand. >> we have very unique problems for this industry as it's growing and coming from the black market intoing the light and every problem that exists is another opportunity for an entrepreneur to make that problem go away? it provides a myriad of job seekers to retail an management. about 150,000 people work if cannous today according to analysts and they expect it to expand in the coming years. eight states passed measures on election night. >> with the new states that legalize, we're going to possibly triple retail sales in a couple years and that's going to have a massive impact on communities and states as this kind of trickles throughout our economy. >> reporter: marijuana business daily projects the impact of the marijuana industry could hit $44
billion by the year 2020. although, many in the industry are concerned about how a new president-elect donald trump mate tackle the regulation, especially with his nomination of senator jeff sessions for attorney general who has been notoriously outspoken against legislation. >> thank you, kate. up next, should you spend money to save money? more and more retailers are betting you will with loyally programs you have to pay for. is it really the best bang for your buck, though? later, restaurateur marcus samuelson, his road to success and what he's cooking up next. now a look at how the stockmarket ended the week.
new week "on the money." america's unemployment rate fell to a nine-year low. the best number since august of 2007. but that's, in part, because many people gave up looking for work and the labor force shrank. it's about in line with expectation, hospitality and leisure showed strength. yet another record low for the dow on thursday. banks and energy companies helped to push the average higher, but the nasdaq and s&p 500 lagged behind most of the week. stocks were mixed on friday. america's economy grew at a much faster pace than first thought. the gross domestic product showed an annualized rate of 3.2%. that's better than the original estimate. in fact, it's the best number in two years. those low oil prices may be a thing of the past. opec members came to an
agreement to cut production for the first time in eight years. that's supposed to take effect january 1st. but opec's producers don't have a freight history of sticking to their own deals. even so, that sent oil prices north of $50 a barrel. it's likely to increase gasoline prices and home heating prices. the holidays are coming up, for many, it means getting together with friends, finding the best bargains usually means scouring the newspapers for coupons. but as more and more stores offer membership, is that the better bet? joining us now, mary beth, big box stores like sam's club and costco have been doing this for years, you have amazon prime, a lot of people are fans of. who else is getting in on this membership deal? >> first of all, wal-mart joined the band wagon, they offer a
certain amount and you get free two-day shipping all year longs, other stores are dock it. rei, barnes and noble, bed, bath and beyond land's end. you can get percs. this you also pay for a year, but you get free shipping and returns and other perks that can offer better customer service. you might have access to sales throughout the year and you can get special sales. >> so many of them are a fee. is that a turnoff? >> it is, this will replace your sh shopping. it's sitting there bothering you.
>> how do you decide what the value is to you? how scloes it to you? close to your home or office or somewhere you want to stop by. you basically want something not more work for you. >> i find myself to blame. i get restoration hardware, how much am i going to spend at this particular store? if you are getting ready to do all of your holiday shopping at one store or if you reziep your interior, go for the paid loyalty program, 20% off could be significant. >> aalso offer other percs, amazon prime has access to video and music, restoration hoard ware offer an interior design complimentary. rei, you can hook up with a travel guide. they got different things that can help you out. it's not just about buying things. they want you to have experience. >> thank you very much, good to talk to you. up next, "on the money," hatching up a hit, the hot new
generosity is its own form of power. you can handle being a mom for half an hour. i'm in all the way. is that understood? i don't know what she's up to, but it's not good. can't the world be my noodles and butter? get your mind out of the gutter. mornings are for coffee and contemplation. that was a really profound observation. you got a mean case of the detox blues. don't start a war you know you're going to lose. finally you can now find all of netflix in the same place as all your other entertainment. on xfinity x1. . >> a person came to the united states with $300 in his pocket. he received a star from the "new york times" at the ripe old age of 23. 11 restaurants and eight
cookbooks later, the celebrity chef is on the path of building a cooking empiemplt his latest book is called the red rooster cookbook. marcus, it's such a pleasure to have you here. it's great to see you. >> we are ready for the holidays here. i have to ask you, you have this remarkable story that epitomizes the american dream and yet you didn't start in america, can you give me a stens of your past? >> like 18 swede, i was born in ethiopia and adopted to sweden. i feel fortunate about. that i mom and i, we have adopted in sweden an my grandmother there taught me how to cook. she taught me basically everything i know today. her meatballs meant grandma held ga's meetballs will be in my restaurant. i wanted more. i wanted to mention the restaurant. and coming to america for me was
the place that i felt i could do that and have an opportunity to do that. >> do have you to have ought skills outside the kitchen? is this branding? >> it's success for me, it's not a bus stop. you constantly have to be curious and operating a restaurant today in multilocation and multicountries is vastly different than it was ten, 15 years ago. today you have to know about social media. you have to know about, you know, i wrote about healthy cooking is much bigger today, where does this ingredient come from? finance, marketing, of course, passion for food and leading and building communities, right? that essentially wasn't done at the red rooster in harlem. we start with the idea that good foods shouldn't be opened by good zip codes. >> a large percentage of the staff in harlem are local people, some of whom had no restaurant experience beforehappened. >> yes. >> how do you give back to the
community, employ local people, yet still achieve a high standard of culinary service that your loyal customers from other restaurants would expect from you? >> i mean training, training, training, and it's hard work. also you get from people that have not worked in the restaurant industry before or maybe, we have very diverse path is an excitement and loyaltive. when i talk to my chef, friend and colleagues down town, it's different. it goes back to the core name of what the restaurant means, restore your community and by having about 200 employees there, having 50 people that call red rooster their home and a place to play, i feel we have dompb something that harlem can stand for. great food. >> what your zoes achieving success? >> i think starting your own business, it's very interesting, you can state of the art out of your own parents' home. can you start it online.
either from your phone, to the opportunities and dreams, if you can't see it, there mit be an opportunity for you to create it. so dream big. you are looking at a person that started in one part of the world, grew up somewhere else and came to new york city. had a lot of mentors, had a lot of people plooving in me. hard work and finding a food mentor, actually listening to your parents. >> marcus, thank you so much. >> thank you for having me. appreciate that. >> up next, "on the money," a look at the news ahead. no escaping the season's hottest toy. oh, no, here it comes. it's a creature in a plastic egg with a real exit strategy. olay total effects
>> here are the stories that may affect your money this week. it's always important, that makes up more than two-third of the u.s. economy. we will get the ifm non-manufacturing index which looks at the services sector. on tuesday, factory orders for october are out and hollywood is in the spotlight when the golden globe nominations are released and how deep in the red are we? the consumer credit report for october comes out wednesday. every year there seems to be one hot holiday item this year's is a toy that reached store shelves in the fall and became ap
immediate hit, i think largely to youtube, our courtney reagan went straight to the source of what put the toy in such high demapped? kid. >> this year's hottest tool is a hatch mole, a creature that hatches once, which can take up to 45 minutes. if the child in your life wants one, you are probably out of luck for the holidays. while toys 'r' us, wal-mart, k-mart and amazon sells or sold the hot toy around $50. it's nearly been sold out since october. they call the consumer response extraordinary, exceeding all expectations t. canadian toy master spin master is planning to get more hatchables to retailers. it's a sellout smr one of our best friend's youngest daughter wants one real bad. they can't find one. they have been looking on the sper net. you you can get one for a few
hundred dollars, she won't pay that. r from the manufacturer does not support non-authorized resellers, if you are desperate, you can bid three times or more to buy them on ebay, some sell them four times retail price or $200 with shipping. the most aggressive ask almost five times retail price or more for the season's hottest to it. barraclough already has a hatch a meanwhile. >> they're pretty fun. you can play games with them. >> yes, i really want one. >> does that look like something you would want? >> yes. >> yes. >> how does a toy get so hot? it plays a big role. >> my friend said she wanted a hatch a meanwhile. i looked up hatch a meanwhile on youtube ub. >> she is very direct of
watching youtube videos that have anything to do with opening up surprises with toys t. element of surprise is what they really enjoy. >> reporter: lucky for some parents, not all kids want a hatch a mole. does that look like a fun toy for you? >> yeah, but it's for girls. >> it's for girls only you think? >> yeah zpli like legos. >> a computer. >> a lego creator set. >> here it is, here is the hatchimal. this is it in the egg. i think we can hear it. i think we woke it up? they're noisy little critters. when the eyes move around, it tells you different things. it can be sick, cold, angry, it can have the hiccups. >> is it going to hold the kids' interest? in there the little girl we spoke to says she has one, she does still play with it. she said can you teach it games. you have to hold onto it and love on it. you have to sort of --
>> kind of leak a furby? >> yes, it has life stages, a baby, a toddler and a kid. you hear it doing different things t. eyes light up. it goes through different emotions. it makes motions. >> it will give the pham ply pet a run for money. >> done you think? >> i do. >> courtney, thank you so much. >> thank you so much for joining us. next week, year end tax tips. there is still time to make movesment to lower your 2016 tax bill. each week, keep it here. we are "on the money." have a great weekend. we will see you next weekend.
>> here's what's coming up on the show. >> visa, it's everywhere you want to be. >> and maybe some places you don't. like your portfolio. because some things happening on the charts suggest visa is going lower. we'll give you the trade and big money and big oil. >> me, i'm going to have more money than you ever thought you would have. >> we will break it down. plus, is it time to bet the farm on ag stock? >> okay. you must have we heard that.