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tv   On the Money  ABC  August 6, 2017 7:30am-8:00am EDT

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hi everyone, welcome to "on the money" i'm becky quick. have the airlines gone too far? why cramming more seats on a plane is more than just unconsideratible. it may not be safe. the new way to shop you may not have heard about. a different kind of coding. the health care job in high demand. everyone everything your college bound students needs to know about money. why a credit card may not be a good idea. and why ivs are catching on with millennials. "on the money" starts right now. >> announcer: this is "on the money." your money, your life, your future. now becky quick. >> ebegin with airplane safety.
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size right side getting smaller and space in general is at a premium. one advocacy group fears it's more than your comfort being compromised. recently a judge ruled that the faa needs to consider regulating seat size. that's today's cover story, seats versus safety. >> does this lack familiar. >> they are way too small. i am a 6'4" guy and they seem to be made for about a 5'0" guy? the largest airline passenger non-profit passenger advocacy group flyers rights brought a lawsuit citing that the seat pitch the distance between two seats has dwindled from 35 inches to 31 inches with some planes as close as 28 inches. meantime, seat width has narrowed from 18 1/2 inches to just 17. at issue, the faa mandate that passengers must be able to get out of a plane within 90 seconds in an emergency. the faa
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has no effect on that. but the court ruled that the faa hadn't shown enough evidence to prove in and ordered the agency to review its decision not the regulate seat size. the faa said it was studying the ruling carefully and any potential actions we may take to address the consider's finding. >> i think it's ridiculous that the prices keep rising and the seats are smaller. >> bigger, now. >> the airlines say they need to sell more seats. it sounds like a double edged sword but at what costs. joining us the former ceo of continental airlines. and the founder of travelers united a non-profit representing all travelers. gentlemen, welcome the both of you. charlie, what happens next with this lawsuit. the faa doesn't have to do anything right away, correct? >> either the faa has to release the data which they say they have, decide it's not
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investigation tests to show we can get individuals off these planes now in a the seats are packed tighter eliminating leg room and also eliminating width. that's part of the issue that we've asked the fa arc to give us clear guidance on. knowing if we just want to have this argument based upon comfort and customer service we are going the lose. but based upon safety is health, we have got a good chance of winning. >> gordon, let's talk about this. for most people who hear these headlines and the story they think it makes perfectly good common sense, the idea if you cram more seats in and more people in, it's going to take longer to get off. why don't you think this is a safetyish you a. >> they regulate safety for seat ever iners to with strand 16 gs of force. regulated for fire retardation, where it can be placed on the airplane per the exits. there is a whole lot of thing on th
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that gets you a seat on an airplane. they rarely put the number of seats authorized on an airplane. the evacuation, 90 second, usually exceeds the market. you really don't want to put that many people on the airplane. so what happens to those people who now can afford to fly because low cost carriers like aleej yant and spirit offer super cheap fares? >> you are going to put them back in cars where the fatality rate is 100 times greater than flying. that's an unend intoed consequence. what's the trade off here? who are we harming? we are taking choices away from consumers. >> gordon, you know i love you but you have heavy lifting to to on this one. this is a tricky issue. are you vinced you can evacuate every plane out there in 90 seconds? if that's the safety rule, do you think those safety rules can be met. >> no, becky, they have to demonstrate it, actually do it. i used to work for boeing. the air
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configurations and demonstrate it. >> why won't they release those results? >> i have no idea. that perplexes me. it is a legal matter. but as a safety, marketing issue, it's a non-issue. >> all right. charlie let's go back to this. if the faa can demonstrate this, if they go ahead and rehe's this information or if they can show it in other tests are you willing to say okay, never mind, lets move on. >> if they show and it show that everything is safe and everything is according to rules the and regulations -- i mean, we have to accept that. i mean, we might not like it and at that point the only way consumers can really battle against the airlines having, you know, cramming more and more people into the same plane is by not flying. >> right. >> so, unfortunately we are in a situation where we don't have a lot of choices. if you are not crammed in the back, you have to pay a lot more to sit up in the front. >> and to that point, charlie, let's go over this. people are not not fl
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pocket books. they are not voting with their feet. the air is more crowded than ever. people are trying to cram into these planes. i know we all complain about it. i do. i hate being jammed in these seats. but, again we are not voting with our pocket books or with our feet. >> if we try to deal with it just by amounts of money or just by comfort, i think that consumers are going to end up with the shortened of the stick. but if we deal with this in terms of the safety rules and regulations there is a chance that we can have a opportunity to see that, indeed, these planes cannot be evacuated in the time they say they can be evacuated. >> gordon, i was going to ask if you agree. i can tell by your groan, you can't. go ahead. >> number one, people do vote with their pocket books. the number one determine ant of the airline you choose is the price for the ticket. number two is the schedule. they don't get into seats. seats are competitive issues, when you d
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airplane, there are a number of manufacturers saying we have got more comfort per seat or the advance in technology allows closer spacing with the same room because of the materials used. so there is a lot of marketing in this. but, really, people say cheapest flight to san francisco, inter, and that's the one they usually buy if the schedule is appropriate. it's to the about seats. but at the same time more people are flying because they can afford to fly. >> gentlemen, this is an argument that's not going to be resolved soon. we will continue to of with a it i want the thank you wet for your time today. >> thank you. >> you thanks, charlie. here's a look at what's making news. as we head into a new week "on the money." a strong jobs report for the month of july. the economy created 209,000 new jobs last month. that was above expectations. there was strength in food services, health care, and business and professional sectors. the unemployment rate fell to 4.3%. that matched a 16-year low. average hourly wage rose by
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that news sent stocks up to a record high in early trading on friday after the dow jones industrial average closed above 22,000 for the first time ever mid week. the nasdaq and the s&p 500 were mixed during theeck would. stocks closed up on friday with a new dow record. if you forget the pack enough warm stuff for your next trip you may be able to pick up what you need at a venting machine. a japanese retailer is rolling out the devices at ten airports and malls across the united states. there will be a limited assortment. and everything you buy there can be returned at any store or by mail. up next we are "on the money" it is a a field thats that grown dramatically in the last decade, and the pays that kept up with this. and a is there room for an online retailer that only sells warehouse store sizes. now let's take a look at how the stock market ended the week.
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the field of genetic counselling used to be reserved for rare diseases but the industry has exploded and more and more genetic counsellors are needed across the country. the department of labor projects a growth rate of 29% through the year 2024. kate rogers has more from danville, papa. as a college student studying biology, megan mcminn thought she wanted to become a physicians candidate. but a desire to interact even more with patients led her to genetic counselling. >> it gave me a good split between patient care and the hard science research end of things. >> at geisinger hospital genetic counsedowllors are on the front lines of patient care. with genetic testing
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counsellors fast enough. >> we will hire hundreds of counsellors. they will become a key member of the team when discussing with patients and families what to do next. geisinger is home to the my code community health initiative one of the largest biobanks of human dna of its kind. the effort is led by amy sterm, detectivor of genomic counselling a of the the hop and hopes to help not only patients but their families. >> we are developing a program the look through all of the dna code to pull out what we consider to be medically actionable conditions. >> alex: salaries for genetic counsellors here at geisinger range from $60,000 a year up to $180,000 annually depending on their level of experience and expertise. the outlook is expected to grow by some 30% for genetic counsellors over the next decade meaning counsellors will be in
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very my demand for years to come. >> how does it go for patients on you get the genetic testing results back. how do you read it? >> here at geisinger they are focusing on a medically actionable result are. it takes about six months the get your results back. if you have something that needs to be treated the geneticic counsellor would consult with the primary care physician, then the genetic counsellor would give the results back to the patient and tell them what they look like. >> kate rogers. >> thank you. jobs in brick and mortar retail has shrink. box has grown from 30 employees to 300. the ceo launched the company as an online version of a warehouse club, kind of like costco meets amazon, but for final i believe ins. thank you for joining us. >> thank you for having me. >> you are kind of like a warehouse club but kind of not. >> you take costco, bjs and sam's club. as ubiquitous as
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if you have less than a million people in your town you might never get access to wholesale savings. we help folks with that. >> how did you come up with that? >> i grew up in the bushes but every other weekend i would go with my parents growing up to go and stock up. >> you liked it. >> yeah but later on in life i didn't have a car to get to a warehouse club i felt lake millions of others might have this problem. luck will he over the last three or four years we have shown we have been right on that. >> you mention in the bushes it's hard the get access. you have four distribution centers. >> four across the u.s. right now. >> where are they and what areas of the country can you service. >> we are here local right outside the beautiful hudson river, across in tropical new jersey for one of them. atlanta, dallas, and all the way out in unsunny las vegas. that allows us to build a network where 94% of our customers get two-day shipping. 51% get i don't have night sh
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membership fees, generally with free shipping. we do that because we are not the everything store. so we can house everything that you would shop for in your local fulfillment center. everything travels via ground and it gets there pretty quickly. >> you have 1600 items, which sounds like a lot until you think about how many items you can get at costco or our places. how do you decide what to put in the store. >> in my garage i picked the first 200. i then learned i shouldn't be the chief many of the of any company. you come into our site and you search for a item, and we don't have it then your merchants get an e-mail saying this is something we should look into. we carry one to three items her category. in the end if you are a manufacturer if you are not getting a great price we won't carry it. and that's fine because we are not the everything store. >> you have to pay for
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for your employees, you offer the pay for college tuition for your kids? how many people have taken you up on that? how do i get a job with you? >> we are hiring. in general, the theme is that we treat everyone like adults. unlimited paid leave, unlimited maternity and paternity leave. longest maternity leave anyone has ever taken given that it's unlimited. seven and a half months. shortest, seven weeks. even with tuition, we have currently three folks in college. i think this coming semester we'll have five. and i now extoll the virtues of community college and instate tuition. >> up next, we are "on the money." a college cash course. what your students needs to know about savings,
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so your baby is going off to college. no doubt you will be sending him or her with new sheets, clothes, much more. you may be ready for the empty nest but are they prepared to leave the financial nest? joining us right
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finance expert and author of make your kid a money genius beth coline he. how do you start this conversation before your kids head off the school. >> to be real, the kids are thinking about who is their roommate, are they in a good dorm and will they get the classes they want. you as a parent are stressing about do i get the extra long twin sheets to fit on the bedel but you have to talk about money. this is the first time your kid is on his or her own and it's important to get down to the basics. >> what are the basics when it comes to money management for somebody in college. >> you have to start with the numbers. public colleges cost about $20,000 a year for tuition room and board for instate residents. private are $35,000 on average. these are big numbers. you have to say to your child, looking we are making an investment in you, and we are really proud of you but we want you to get through college in four years. 50% of kids don't get through in four years. >> 50%. >> yes, and that
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very expensive because you have to pay an extra year of tuition and you are missing out on the income. >> should you send a credit card with your children? >> you should not send a credit card with your kid. when i was in college there would be tables of credit card companies handing out cards to anybody who could sign their name. in 2009 the rules changed you have to be 21 show you have income or you need to have a parent cosign. huge mistake. >> my parents gave me a credit card when i went to college and said use this only in case of emergency. i would want to use it in case of emergency. >> give them a debt card. >> there is a limit to it. that's the point? >> exactly. >> should i expect them to get a job, focus on their studies, and help them out with extras like pizza or spring break. >> research shows that kids that work in college under 20 hours a week and they have an oncampus job
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who don't work at all. it's good to work. these conversations are about budgeting. on my website i have a worksheet people with use to sit down and figure out who is paying for what before you leave for school. >> thank you very much. up next on "on the money" a look at the news in the week ahead.and not only millennials looking for five star hotels, spa treatments or resorts for their next getaway. she thinks she's the boss. she only had me by one grade. we bought our first home together in 2010. his family had used another insurance product but i was like well i've had usaa for a while, why don't we call and check the rates? it was an instant savings and i should've changed a long time ago. there's no point in looking elsewhere really. we're the tenneys and we're usaa members for life. usaa. get your insurance quote today. juswho own them,ople every business is different. but every one of those businesses
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here are the stories coming up that may impact your money this week. on monday, we will be getting the consumer credit rosht that measures consumer debt for june. on tuesday, the national federation of independent businesses releases its monthly survey on the economic optimism of small business owners. it also marks 43 years since president richard nixon resigned in the wake of the watergate scandal. on thursday we will be getting a measure of wholesale inflation with a release of the producer price index for july and consumer price index comes out on friday that measures inflation for consumers. contrary to popular belief not all millennials are at home living with their parents. as they enter the work force and the real world, the growing number of them are vacationing with their families the same way they did with their folks years ago. as landon dowd found out many millennials are hitching a ride and camping out in hvs. >> alex: kyle milliard is 32 years
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he grew up camping and takes his team on the road he have month in the summertime. >> it has a bunk system in the back as well as a kitchen. it's something we can grow familiwise. >> alex: 9 million u.s. households now own an rv according to the recreation vehicle association. they have traditionally relied on retirees to drive growth but now younger buyers are getting behind the while night allows us to get together in a different way. we also save money so we can do things that we might not otherwise get to do if we stayed in a hotel. >> when we come for thanksgiving specifically, we have probably four to five trailers that come. and we all book spots right by each other. and then we have a couple of family members who like to come but don't have trailers so they rent kabans. younger buyers are opting for toeible trailers than the more expensive motor homes and coming to places like this one
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here in california wine country the really experience the outdoor life-style trends. that has camp ground owners investing in things like wi-fi and communal areas for millennials to mingle. >> for the millennial generation we are looking at space here on the camp ground which was set up for pot lucks and bingo halls 30 years ago. and we are setting it up for third spaces, like starbucks and stuff. >> june toeible shipments jumped 30% year over year. manufacturers are taking note updating technologies. >> a lot of the rvs are compatible to an iphone. a lot of the app based thing that run the ac, the awning, your jacks. makes it easier to camp. >> once buyers get rving in their blood they get hooked. it's not just for affordable wooigd getaways that make toeibles attracti
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for tail gates or getaways with friends. for some young millennial families selling everything to hit the road and he can more the country. >> do you think the trend will continue? does the rv industry think millennials will be buyers in the coming years? >> while they are showing an interest it is too soon to know if that younger buyer can drive the industry the way that the baby boomers did. >> big demographic shifts. land don thank you very much. that's the show today. i'm becky quick. thank you for joining us. next week, would you let your employer implant a micro chip in your hand? guess what 50 employees of a wisconsin based company just agreed to do that. we'll find out why. each week keep it
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good morning, america. breaking overnight. flash flooding. roads turning into raging rivers in the midwest. rushing water swamping the streets as strong storms dump up to 10 inches of rain in new orleans. the devastating scene. entire neighborhoods under water. kayaks replacing cars and the new weather threat this morning. >> marines rescued. the first pictures of the survivors of that osprey crash. the high-tech craft hitting the water during a training mission. three service members missing right now. the recovery effort under way. ♪ >> taylor swift's courtroom


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