tv MONEY With Melissa Francis FOX Business January 17, 2014 5:00pm-6:01pm EST
back. what do guys on facebook say? put it up. i'm sorry. there we go. lack of new product innovation is tim cook's responsibility. that was the strength of steve jobs. don't forget it. liz: don't forget "forbes on fox" on fox news. melissa: it has been 2 1/2 whole weeks since the state of washington raised its minimum wage, already the governor wants to do it again. will the wage wars ever end? the mayor of sea-tac is here to fight for us. when we say it is not, it is always about money. >> minimum wage should be renamed starter wage because that's what it is. >> people should be paid appropriately for the kind of work they do and for the number of hours they work. >> people working with, they deserve a raise. >> i worked in fast-food. i worked in mcdonald's when i was 16. it was what it was. you don't generally have a lost
skills. melissa: brace for impact. wage rage may be about to hit washington state twice whether you agree with the ongoing wage wars or not. this takes it to a new level. despite a minimum wage hike two weeks ago on january 1st, despite having the highest minimum wage in the country, at $9.32 an hour, washington state wants to raise it again. sea-tac's mayor who supports the second spike joins me on the phone. why do you support this, mayor? >> thank you for having me today. i support this because i see in our community that we are utilizing all of our resources to help with public assistance in order to keep our community thriving. melissa: so it is about saving taxpayer money on public assistance? >> well, right now, the taxpayers pay a lot of money through public assistance. melissa: okay. you don't fear you would end up more people out of work and thus, costing the city more money? the general manager of cedar
brook lodge in sea-tac itself is quoted saying they will have to reduce hours and benefits to people. so it will result in less money. seems like it will cost the taxpayer more. >> sure. there is always complicated truth to everything. we did a ribbon-cutting ceremony a few weeks ago as showcasing a 60 million-dollar improvement and expanding from 108 beds to 160 beds for full-service spa. so the complicated truth is that the economy is still thriving. the amount of passengers coming to the airport, 32 million, every year is own economy itself but on backs of constituents in the city of sea-tac. melissa: by saying how much his rooms are you're saying he can afford it he is just sort of cutting hours out of spite? >> well, i think that it is a fundamental business model, right? it is not necessarily actual economy. >> well, i mean if he does go ahead and cut those hours he has
the right to do that as a result of his labor costs going up. how, what would you say to the people who end up making less money because the minimum wage went up and he cut their hours? >> sure. you know, he is a good businessman. he will do what it takes in order for his business to continue to thrive but real answer is, if you have 160 beds you're not cutting labor. you will be increasing if you're marketing your business appropriately, and keeping your beds full. melissa: okay. so you're saying you have him over a barrel? he has to have more people either way. raising price on him, i mean -- >> i'm not here to put him over a barrel. i'm here to help him get what he needs. melissa: hotel concepts is the company that owns and manages 11 hotels in the state. they say they shelved plans to build a hotel because of what is going on. what do you think about that? >> well, and, you know, we have seen the hotel economy in our city continue to do better and better as recession has continued to improve.
so, you know, it is just one person's word over another. my job as mayor at sea-tac to look for ball lance in business and communities and find that political will. what you're seeing is a perfect storm in that we have this beautiful, wonderful, large airport in the center of our city which is happening all the airport related community paying minimum wage the poverty rises. i have over 90% of my children in free and reduced lunch, if i have 100,000 pounds of donated food at local food banks, you tell me what the answer is. melissa: i think businesses will do what they are going to do. they will either cut hours or raise price. franchise association says that you know, prices will go up by 15% if you raise wages, sorry by 50% if you raise wages to $15 an hour. you know, do you worry about the very people that you're trying to help? that the price of everything they consume goes up as a result of you raising the minimum wage? >> well, the answer is the
community that i serve don't purchase products from the community that you're quoting. and so when people make a dollar more, they're going spend a dollar directly into the community. which means that they can now purchase a latte once a week at local -- melissa: they're saying price of those things is going to go up. so the price of the burger goes up so that they can serve it and get paid a higher price. i mean, they're not making anymore money because they're paying more for the actual product. do you understand what i'm saying. >> i understand exactly what you're saying but with the proposition 1 is not blanket minimum wage increase, right? seeing minimum wage increase on airport related services. hotel of 100 beds or more or restaurant within that hotel. so your local mcdonald's on the corner or your local dave's diner or bullpen will not have the same problems. it is not going to affect them the same. now if and when the port of seattle decides to implement proposition 1, that is a
conversation that will happen within the confines, walls of the airport. melissa: uh-huh. mayor, thank you so much for coming on. i hope you come back and update on this because obviously very hot issue in your community and one spreading around the country. will you come back? >> yeah. this is a perfect way, you know to market your city i would have to tell awe couple years ago nobody knew if the city of sea-tac was actually the airport. if you want to market your city this is way to do it. melissa: you know what? you're right about that. you're a genius. thank you so much. >> have a great day. thank you so much. melissa: this issue, that is an interesting point, right? she is marketing the city. this issue is sparking major debate across the country. we have former ceo of office depot and autozone. he is ceo of economic, i'm sorry of the committee for economic development. thank you so much for joining us. what do you think of what you just heard? >> first of all, i think it is important these kind of decisions on minimum wage and other economic issues are decided at the local level. and so, i'm pleased it is
governor and mayor are dealing with what they know best. you know, we're against of course having the federal government do this where they peanut butter amin mum wage across the country where there are different labor standards and different issues. having said that on the other hand, we're worried that the minimum wage is being raised and that is hurting very people that they're trying to help. melissa: so she made some really specific arguments. we talked abo large resort owner who said that they're going to cut hours and cut benefits as a result of this going up. her response is basically, good luck to them. they're adding beds. i would like to see them cut hours. they need more labor, not less. what do you think of their argument? >> look as a ceo i was never given a pass on my earnings. pension fund always want the stock price an earnings to go up. everybody with a 401(k) wants their earnings to go up. businesses have to solve for higher costs of labor when the minimum wage goes up that always
happens by cutting jobs orb automating jobs, or raising prices or any other way you can get there. some what happens is, when you, when you cut back on hours, or you cut back on jobs you're hurting very people that you set out to help. melissa: yeah. >> everybody who is saying this is great, raised the minimum wage, you can't argue against the objective of raising the standard of living and of having a living wage. but the question is, how do you really help. what is the best way to help the people that you're trying to help? melissa: right. >> raising minimum wage is seldom the way to do it. david: melissa: what is the best way to help people at very bottom? these people if they made more money, spend more money everyone would be better off. what is best way to help those folks? >> let's go back to the economic situation. we're in a low growth situation. we have not recovered from the great recession. businesses are sitting on $2 trillion in cash and committee for economic development is worried about because they are not investing
because they're uncertain about government policy, about tax policy and about the minimum wage. melissa: yeah. >> so if there could be certainty in these policies, businesses would then invest. whennyou invest you start to drive growth. when you have growth, then the whole labor market and cost of labor is on its way out. melissa: i want to ask you before we run out of time. you're the former ceo of office depot and autozone. you had, many being many employees. you operated in at love communities. she is saying we're growing to do this no matter what. you know, you have to hire more people because you're in our area. some hotels say they're leaving. how would you respond as a ceo in that community to that type of tactic? what would you do with your office depot or autozone? >> yeah, every community is different and maybe she's right. maybe the unemployment rate is so low that, maybe she does have full employment and therefore living standards will go up but i think that businesses are mobile today. and you see jobs able to be moved overseas, where cost of
labor is lower or move to other areas. businesses have the opportunity to do invest and they invest in a lot of different places or not to invest at all. that's what we're seeing economically. so i would say look, we are in a situation where there is no growth. maybe they have growth there. that's wonderful. melissa: yaw. >> but from a economic situation we needless government regulation, we need certainty in government policy so businesses can grow and invest with people and help with the minimum wage. melissa: thank you for your input. come back and see us. i think most telling comment, this is been great pr for sea-tac. nobody ever heard it before. that is one to save. next on "money," just when you thought the world was bouncing back from the economic meltdown, the biggest risk to the entire world, in 2014, the globe, is income inequality? really the biggest risk in the world? two economists are here to thaek
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melissa: nuclear war, starvation, natural disasters, those might be some of the things that you consider to be the biggest risks in the world right now. but income inequality? it's a topic causing major contention now. the world economic forum has come out and said that it's the biggest risk to the world! in 2014! really? let's ask economist peter morici and christian dorsey. thanks to both of you for joining us. christian, i'm going to toss the ball up to you out of the gate, income inequality, that is the biggest concern in the world in 2014. what do you think? >> melissa, i'm sensing some skepticism on your end, am i right? -@melissa: we've got a lot of problems. thinking of things health
related, natural disasters. redistributing wealth that is our biggest idea for 2014? >> redistributing wealth and income inequality not exactly the same thing. melissa: really. >> but this whole idea that we have globally, a phenomenon taking place that is very much a part of our conversation where incomes are not growing, keeping pace with the productivity growth in nations is a huge factor because it does affect some other things that you mentioned. a community's health. a community's social coersion. it affects so many other issues that it is very argual that it is defining issue for our time and affects about everything out there? melissa: peter? >> i don't like income inequality any better than christian does. the big problem is absence of economic growth. if the economy is growing at 4 1/2% instead of 2.25 as it has
been the demand for labor would be so much stronger. we wouldn't have a minimum wage debate as we would see wages rise and that would reduce inequality. it is mismanagement of globalization that create ad winner and loser economy. so many people who are underemployed and unemployed and with growth we could get those people back on the job. melissa: very solid. christian what do you think of the argument. >> i agree with peter by and large the question is how do you achieve that growth? when you look at the united states specifically there are all inner of things we've done which led to this low-growth extremely fragile administration. melissa: like federal reserve flooding system with money. >> what is more present last 30 years, redistributed tax system where we taken tax rates and lowered them on people at higher income levels. there has been a very real redistribution of income in this country. the problem, melissa, it has taken place from people at the middle end to the high-end and not the reverse.
melissa::peter, i think people at high-end feel like they're become taxed to death. do you agree with what christian just said. >> i don't agree with christian. people at high-end have more money and earned more money in winner-take-all economy. globalization permits all kinds of people to sell their services to much wider audiences and dramatically increased incomes. marginal tax rates have gone up a lot with barack obama and before that bill clinton. if you look at marginal tax rates, they're quite low for middle income people and quite high for high income people compared to say, 10 years ago, 15 years ago and according to the cbo, we'll be paying highest taxes that we have in the last 30 years over the next 10 years. melissa: christian, would growing the economy more in your opinion, would that solve your problem? or does there have to be more redistribution? >> it would not solve the problem. it would certainly be a step in the right direction. as marginal tax rates increased we've also seen explosion in variety of tax expenditures
which reduce the effective tax rates that people at top pay. that is really more instructive for our economic policy. what that has led to is a government that doesn't really invest in its human cap in -- capital way it has done in decades past to provide opportunities for individuals to contribute to their own growth. it also makes it impossible for this country to actually grow according to its actual potential. melissa: yeah, peter i will give you last word. does government invest in individuals to make people more productive or i don't know -- >> it should invest in individuals to make them more productive. the problem is so much is spent on entitlements these days which are income redistribution. instead of on human investments in the young and research and development and so forth. that contributes to slower growth. entitlement state is slowing economic growth. that is income redistribution. melissa: we'll leave it there. good debate. very informative. >> thank you. melissa: leading up to, better start saving like cries crazy. turns out salaries start to
trail off at age 39? have you ever heard that? watch this and tweet me what you think. today's "money talker" is all about how much you can make. speaking of making money, what if we told you the super bowl holds the secret to boosting your 401(k)? i promise you, this is not the theory that we hear every year at this time. this is totally different! do you ever have too much mon? i don't think it's possible. [ male announcer ] this is the story of the little room over the pizza place on chestnut street the modest first floor bedroom tallinn, estonia and the southbound bus barreli down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713. ♪ this magic moment
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and hash it out. it is our "money talker." we have life coach maggie. she gives out this information and advice all the time luxury real estate jared randolph, who is so money, always dealing with money and very strong opinions on the matter. we have marie claire magazine's maria goldman as well. maggie, let me start with you. you don't agree with the guide. how come? >> i'm often fighting idea money is focus of our careers. they choose the careers based on money or hot jobs. melissa: what if you don't like it? >> i chose accounting degree and when i did the job i hated it. was i a bad cpa? yes. money can't be only thing. melissa: you agree with that. >> i look at it, stop being poor. should have trust fund. parents should pay for anything. shouldn't have to work hard. the truth is i don't have a trust fund. that was a joke. it is about financial
responsibility. and a lot of people ask me why is the new york market so strong? because you're required to be financially stronger in the marketplace. three things help you be responsible for money. save money. don't buy crap you don't need. melissa: in your 20s, save like crazy. take charge. consider your industry carefully and have a plan. >> i'm going to jump right in. >> go ahead. >> same old guide, same ol', you heard it all before. what it over looks the idea you should negotiate, especially if you're a woman. the assumption you will take whatever they give you whether starting out, first job, whatever. i'm so greatful for that $40,000 a year job. don't be grateful. ask for 45, ask for 50. you will probably get it. >> that is incredible calculated risks. you have to take those type of calculated risks to advance in your career. >> when it is not a calculated risk in you're in the career for you. if you're good at what you do you get on wonderful shows. >> very true. >> they will make except suns.
melissa: don't you say don't hold out for the right job? >> sometimes a process of elimination. you might go into a career field you don't enjoy. i've been in real estate and other than i worked at a place for busboy's for one of my friend's dads. i've been real estate. i enjoyed what i done. i enjoyed it from day one. other people sometimes you have to start in one career path. realize it is not what you want to do to move on to the next. you can't always feel entitled to fall into the right career path. melissa: looking around between careers. i don't know, you spent a lot of money getting a degree. this is what you're trained for. if you want to make money, do you have the luxury shopping lutely should be shopping around. average job these days is two to four years. it's a different scene than it was for our parents where they had job security. they could account for a job for the duration of their careers. not anymore. you should be passing around. melissa: if you only in a job two to four years how do you build up and up and get raises within that job?
you're kind of always starting over. >> your skills transfer. that is most don't recognize. i wasn't a great cpa, i understand taking place i take with me. i'm my own business owner and can read my own financial statements. if you get a degree, take the knowledge with you and uses it in a way that inspires you and others to make a difference. melissa: one of the most controversial things i read in the study, in your 30s, watch for opportunities. volunteer. don't check out. don't fall out of work place when you have children. >> happens all too often. melissa: that is fighting words for a lot of people. >> hear it so often all the time. women are leaning back because they can't handle the juggle. i think that is going to change. in 10 years you will see a total demographic revolution. why? because women are marrying later. they're opting not to marry at all. this tapering off you see of their career and income will not happen. they will keep plowing forward. they don't have a juggle to contest with. >> as womennwe have more options staying involved in our careers
than your parents and grandparents did. you can stay involved with your career and stay home with your children. i have a young son and still very active in my career. melissa: work place -- >> very competitive work place. >> passion what you're good at. if this is struggle for you. you have struggle bet getting out of bed and you don't have kids and other things when you do you won't leave your child at home to go to a job you don't like. >> sometimes you have to work a job to provide for your child. you can't always -- >> work it. work it. melissa: great job you guys. coming up it is the super bowl theory dividing wall street. some investors are using the game to predict the stock market. the stats look pretty convincing. i promise this is one you haven't heard before. "who made money today?" this spawn ad fast-food empire just earned itself a bold new accolade. it may be sliding its way into a whole load of cash. "piles of money" coming right up.
♪ this sunday we're going find out which two teams are super bowl bound. even if you're not a niners fan. you might want to cheer for them. history has shown when the niners win big, so does wall street. in fact, san francisco's last three super bowl wins coincided with three of the best dow years since 1967. did you know that! i'm a niners fan. indidn't know that. is there a link between stocks and jocks? here to tell us equity strategies brian, market watch assistant managing editor. tom. i want to start with you. what do you think about in? i know the one about the market does better when the nfc team wins. did you know about the niners? do you believe in any of this? >> that was one of the first things we were trying to figure out. the super bowl indicater is if
the nfc team wins it hold up well. we took it a step further and looked at what happens with the individual teams. surprisingly enough the niners are really good for the market. the only time the markets have done better when the pittsburgh steelers won in 1975, and even, even when the niners lost last year, of course, we had the fabulous year in 2013 for the dow jones. so it's, you know, a great thing for the niners and markets. that's better than most market predictors. >> i can tell you the brooklyn bridge. 80% -- of course it's not rooted. >> that means it's 20% wrong. the fact is it is rooted -- you can pick stocks and it's easy. you flip a penny stock. picking stocks is a second and third job. >> i think they're saying it's very much -- a coin toss. and so is the game. and it indicates that it is
impossible to pick stocks you might as well bet based on who wins the super bowl. >> it is possible to pick stocks correctly. first of all, if you look at this, with you're going to bring financial pain to the fort control owe if you think about following this. >> tom, what do you think about? >> brian makes a good point. some of the studies suggested that butter production is a better prediction than the super bowl. there are trade-offs. but the other more serious point if you're looking a the the portfolio should not perform it on a linear performance on the stock market. you should be allocating stocks appropriately and making sensible decisions. >> you talked about the butter production in bangladesh that has a serious statistical. the correlation between that and the s&p is really high. i don't want to pooh-pooh these. you have some good ones. hang on, brian. one of the attendance of the
super bowl. >> this finance is tired of the dusty indicators being brought up from the grave. here is a new one. the attendance in the super bowl. you have to make super bowl plans in advance. the big-ticket purchase. if the traffic is improving and improving each year chances are the economy is doing well. 2008 and 2009 attendance fell. why? the world was crumbling. attendance increased since the economy and stock market. i don't know about that. doesn't have have more to do with the teams in it that come from cities that have wealthy individuals that want to see them? or what cities it is in more than the economy? >> there's that. and the capacity of the stadium involved. if you play the super bowl at the rose bowl you get more than 100,000 people in there. melissa: brian? what about the other one. the supermarket indicater. >> even with the other one. we look for the trends. the trend your way, good. the supermarket you want to see if historically which company walmart, kroger have done well
during november and february. i found going back to 2006 walmart and whole foods it outperformed close to 60% of the time. they could be the winners. >> who are you rooting for? >> whole foods. [laughter] melissa: tom? who do you think is going to have super bowl? i'm going put you on the spot. who is going to win? >> niners all the way, of course! melissa: i couldn't hear your answer. what did you say? >> niners. 49ers. melissa: niners absolutely. thank you. good job. so if you're not convinced of a connection between the super bowl and the stock market, fox business network tom sullivan has a few ideas. two full business weeks to the new year and they are hard at work. i love the adage the first five trading date year predict the entire year. really? it's only been right 11 out of the last 23 years. which is about the same odds as flipping a coin. and with the fed still pour $75
billion a month to treasury and mortgage. it was supposed to have created an inflation bonfire. next to nothing. regardless, the fed is one indicater to watch. i know, the price earnings ratio is usually right. not overheated. but the fed is in total 0 control. all of the old calculations of stock prices are interesting, but today they mean next to nothing. the measure of too much bullishness is off the charts right now. it mean we're due for a deep correction; right? none of the fed keeps pumping money. 2014, who knows. the only way to play this market to keep your eyes on all the eggs that are in one basket. the fed basket. sad, but i don't buy the term new normal. this isn't normal at all. melissa: be sure to catch the "tom sullivan show" on "fox news" talk. sirius xm. it's every weekday at 3:00 p.m. coming up on munn.
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i've never been able to sleep for three months. >> beautiful store! crew is doing well. >> we have the news crew, we have more over here. we have cincinnati reds here. melissa: what was it the disaster that came your way? >> not getting my right tables. >> yes, the table controversy has been plaguing us for months. >> they were supposed to be red to match the walls. they're not. i'm still waiting for tables.. melissa: what have you had to tinker with? >> watching how they spread out the cheese and making sure they get amp coverage across the bread. melissa: what does it feel like to have somebody take up your idea and name their own? >> it's a little scary but really amazing. it's amazing the fact we built something that other people believe in and stand behind and they want to help us grow. >> i think it's a plunge they can handle easily. it's the kind of guys that put 150% of themselves to anything. that is why this is a success. that's why it's growing. >> everybody thinks they are full of good ideas and stuff.
but you see somebody else put money down on something you've been working on and creating, it's really gratifying. >> the new tom and cheese has 15 or employees or so. think about the jobs in the small business! this is where it's happening. nobody is paying attention to it. >> it's a challenge in a great hurdle. >> i'm smelling doughnuts right now. i'm smelling ham that hit grill. we're okay! [laughter] >> i'm so hungry now. i can't tell you! >> get ready! ♪ >> so good! [cheering and applause] melissa: oh! let me tell you, the sandwich was so good! i'm dying for another one right now. and now that it is officially open for business, the owner join me on the phone. how is it going? how was the week? >> caller: oh my god, it's been insane! crazy insane!
i never thought it would take off like this. i knew it was a great idea, but every day it's busier. the lines are busier. we can't keep up! melissa: i have to say when we were there, the line was out the door. i talked to a lot of folks. they weren't staged. they were real customers. you say the line is out the door? in to the parking lot? >> caller: it's tout sidewalk. it's crazy. melissa: wow! as i understand you've had to hire more people? >> caller: yesterday two people walked in. we interviewed and liked them. you're hired. one guy started right away. we gave him a t-shirt, a hat, he filled out paperwork. and the other person started today. we need more people. it's, like, insane! melissa: the big table controversy. i know, you were worked up about that when i was there. you had ordered tables that were supposed to match wall wall exactly. they didn't. on with the table? >> caller: they put a hold on my credit card and e-mailing and no answer.
i've been crazied with the overload and the excitement. i think i'll deal with the tables on monday and see if we get it straightened out. it's not what we ordered. melissa: are you going settle for the tables you have or demand the actual tables that you planned for in the first place? >> caller: i'm demanding the tables and i'm actually demanded a credit, which i already got a credit on. melissa: you have one store down. what is next? >> caller: probably about three months we're looking to build over out to mercer county, which is about a half hour away. i think it's, like, off route 130. we picked the shopping center awhile ago. as long as space is there, that's great. people in the store today from hampton and east windsor. they traveled and said we heard about you. they couldn't believe we might be opening there next. melissa: what has been the most popular sandwich so far? i saw the grilled tomato and bacon and grilled cheese. what is the most popular? >> caller: right now we're
going to the grilled mac and cheese. we've made probably four batches of mac and cheese. everybody here in jersey is loving! melissa: what is on there? mac and cheese on the sandwich? >> oh my gosh. we bake mack and cheese in the event. when it cools we put it back on the grill. they warm it up, add more cheese and goes on white bread. if you like bacon you add it and have an unbelievable sandwich. melissa: anybody die of an heart attack on the spot in it sounds like 3,000 calories. >> caller: no! melissa: you are fabulous. thank you very much. >> caller: thank you. thank you for coming down monday. it's been another busy week here. we've offered help with yelp. we hashed out the market. we visited a pig farm. here is the week that was in the "money" rewind. ♪ we are headed to a pig
farm! it's just for scientific research and it's not intended to be used as meat. >> they are doing amazing things over there! melissa: does it mean you think it's safe to consume cloned pigs? >> absolutely. a pig is a pig is a pig. lightening a fire over google's reach. >> know who is in your house and when. google is probably already spying on me. it's and wonderful ways. yelp under fires. companies are seeing good review disappear. >> they wanted know buy ads. >> she's being told you have to pay and buy an ad. that's the way to fix the problem. usher is making ways. i took an usher down here today! they do cool things like a national cat day! if kitten day is the way to build this company, more power to them. you have a cab outside waiting to pick you up and take you to fox business. it's perfect! ♪
hot-related stocks have been positively smoking. >> where there's freedom; -- [laughter] melissa: do you agree with that? jonathan -- >> marijuana stocks is it best to have baked idea? a contact high is enough. melissa: an office party on the balloons wrote "i quit." i thought it was fabulous. if only i thought about it when i quit my last deal. he's no stranger to oversharing with the bosses. >> it's the early 1990s and the city law. the you are so big you probably think thing isment is about you. room for only one diva. i love it! sometimes so you to believe you're right. i'm taking the last word! even when they say it's not, it's always about money! now i'm ready for the weekend! all right coming up as we promised, we are bringing you
the small phone chargers that will blow you away! so small that hundreds could fit in the palm of your hand. i'm not kidding! don't move. you can never have too much "money ." ♪ [ le announcer this m has an accomplished research and analytical group at his disposal. ♪ but evore pressive is how he puts it to work for his clients. ♪ morning. morning. thanks for meeting so ear. oh, it's not a big deal at all. come on in. [ male announcer ] it's how edward jones makes sense of investing. ♪ of the dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall
♪ time for a little fun with "spare change." it's about how little change can go a long way. for example, when you think of wind turbine creating energy, you think of the huge structures with huge spinning blades. here is one case where some teen any tiny microwindmills smaller than a grain of rice could charge your cell phone. the designer of the new technology is professor jc ciao at university of texas at arlington.
windmill so small. how does it work? >> umm, well we are using something called microelectrical mechanical system. it's a tiny little robot. we have made three layers of blades. when air flows through, it will turn the blade. then we can harvest the energy turning to electricity and charge the battery. that is what we're trying to do. melissa: how practical is it? do you waive the phone around in the air? how does work? how long does it charge your phone for? >> each windmill probably only give a small amount of power, but because they are so small, we can make a lot of them. well, for example, your iphone maybe you can bit 2,000 of them on your sleeve so when you are out of a charge you wear the sleeve and wave it and get
energy to send a text message. melissa: everybody is walking around the city and waiving their arms trying to charge the phone. it seems dangerous! >> maybe in a gym that would be crazy. you exercise and charge your phone. melissa: wow! you wave it around for awhile and send one text message? >> yes. but -- [inaudible] what we're try dog -- trying to do is build the energy harvester when the device is sitting idly, not just iphone but remote sensor sitting in the middle of nowhere, side of the building, on the bridge, or around your car and they will continue charging the battery. so that way you will never run out of energy. you don't have to change the battery for the guys -- devices. melissa: i understand they agreed to commercialize it. what does it cost? what would it cost to have one?
and, you know, if it breaks is it disposal. it seems like they are tiny things that would break easily. talk about the money behind this? >> okay. actually. when you think small, small not necessarily means weak. for example, you drop an -- and the ants will be okay. melissa: stop it! that's not true. that's true? >> well. yeah. so being small doesn't mean it's not strong. so basically what we want to do is build a lot of them so even one of them break, you still have the rest of them working. and the company is a based in ty wan. we found that the fabrication technique is very reliable and robust. so we believe that they can help us to commercialize this technology. melissa: i can't wait to follow the story!
professor, thank you for coming on. my office is on the 12th floor. i'm going there next to drop it to the bottom. fee the ant is alive. i don't know if i believe you. who made money today? not the ant. it's the greasy sticks and burger fans just keep slip sliding through the doors. find out who beat the other fast food chains to a cheesy new accolade. you can never have too much money or chicken rings. chicken rings? ♪ ♪
my dad has aor afib.illation, he has the most common kind... ...it's not caused by a heart valve problem. d, it says yr afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrtions.
hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding orave had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. adaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, escially if you take certain medicines. tell your ctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, set, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask yr doctor about recing the risk of stroke with praxa.
afghastan, in 2009. on the u.s.s. saratoga in 1982. [ male announcer ] once it's ened, usaa auto insurance is often handed down fm generation to generation. because it offers a superior level of protection. and because usaa's commitment to serve current and fmer miliry members and their families is without equal. begin your legacy. get an au insurance quote. usaa. we know what it means to serve. curb main street here is you made money today. american express. the credit card company reported a surge in non-profit and as u.s. customers spent more during the holiday season. the stock jumped more than 3.5%.
the chief executive has a 850,000 shares. he is now richer by $3 million. happy friday. also, the terminator is back and set to appear in one of the super bowl ads for bud light. he gets all the money for starring in one commercial as well as another spot. about to make more money, a white castle fast-food chain has been named the most influential. of all time? according to time magazine and that says it is now as iconic as ever even more than mcdonald's or burger king's. it be out 17 rivals. i will stick with the mozzarella sticks. on monday we have a news segment where charlie gasparino goes head-to-head of the biggest business story of the day.
thinks will get so he did we will leave a fire extinguisher. must see tv 5:00 p.m. right here. have a great weekend. the willis report is next. gerri: hello. tonight come on "the willis report." the scandal widens at least six other national retailers reportedly packed. is it legal? the man arrested for warning to other drivers about a speed trap is said morally wrong to make money on companies like apple and one is here to tell us why. on though "willis report." gerri: