tv CNN Newsroom CNN February 1, 2012 8:00am-10:00am PST
and then michelle obama talking about healthy eating in englewood, california. the first lady wants to bring healthy grocery stores to low income areas. and suzanne malveaux takes it and suzanne malveaux takes it from here. -- captions by vitac -- www.vitac.com welcome. i want to get you up to speed on this february 1st. it is probably the biggest expense in the monthly budget, the mortgage. the president outlines a plan to help you get a lower borrowing rate which could save the average homeowner $3,000 a year. we will bring tote you live the remarks, and also we are going to break down the numbers. mitt romney with momentum, and he is on the move today after his decisive win in the florida primary. romneymle campaigns in minnesota before heading west to las vegas. ron paul is on the campaign trail in vegas as well. he has a stop there next hour. and also next hour, rick santorum campaigning in
colorado. and later, newt gingrich holding a rally in reno, nevada. mitt romney's win in florida follows a brutal and bitter campaign already, but it paid off for romney who won by 46% of the vote compared to 32% for gingrich, and rick santorum got 13% of the vote as ron paul got 7%. on the starting point, mitt romney said it didn't bother him that newt gingrich didn't call to congratulate him. >> as said long ago, politics ain't bean bag, and we are battling to become the nominee, and he will do it the way he thinks is best, and i will do it the way i think is best. so far my process has given us a good start, and we will go on, but i am feeling good at this point. >> newt gingrich leaves florida defeated, and defiant. he didn't mention the supporters by name, but he said that he will stay in the race all of the way to the republican convention in august and he gave his take
on what the results in florida meant for him. >> it is now clear that this will be a two-person race between the conservative leader newt gingrich and the massachusetts moderate -- [ applause ] -- and the voters of florida really made that clear. >> sad news to report out of california today. >> i'm don cornelius and as always in parting, we wish you love and peace and soul. >> music icon don cornelius the creator and former host of the "soul train" music awards and show has died. police tell cnn that cornelius died of a gunshot wound at his home in los angeles, and he created a pilot for "soul train" using $400 of his own money. he went on the air in 1970, and the show featured top r&b and soul artists performing before a
studio audience and showed off the dance moves in the "soul train" dance line. and in a few moments we will talk live to grammy award winning singer gladys knight about the life and legacy of don cornelius. well, the search on the capsized italian cruise ship is now off. officials say that the conditions are just too dangerous. 17 bodies have now been recovered. americans gerald and barbara hillel are among the people who have not been found. the family members are now planning a memorial service to celebrate their lives. florida a&m university has cancelled the summer band camp program while police investigate the suspected hazing death of robert champion. the drum major died in november, as you will recall, but nobody has been charged in the death, and four members have been suspended. four members of the marching 100 band have been arrested in
earlier hazing events this month. and you might soon be able to own a chunk of facebook. the biz world is bracing for the biggest ever internet ipo or initial public offering, so that is when a public starts selling stock on the open market. facebook is pretty hush-hush about it, but according to the sources, today is the day that the company files the paperwork for the ipo. it is several months before facebook starts trading. next up is nevada. after a bruising fight in florida, the battle for the republican presidential nomination is now shifting to nevada. the state's caucuses are this saturday and mitt romney is the front-runner, and with three days to go, joe johns is in vegas with a preview of what is ahead. already looking to the next contest here, and joe, it seems that romney clearly has the momentum going into nevada.
is it something that is going to be able to stick? >> well, susan, lo shg, suzannee exit polls, it will tell you a lot of what is going on for romney and not gog on for newt gingrich, the two top guys in the race. the interesting thing about romney number one is electability. so many people who were going to the polls said that the number one thing they were concerned about is somebody they thought might be able to beat president barack obama. that would be mitt romney at least what they said at the poll s. the problems for gingrich are very interesting, too. we have all known about the gender gap, the women who aren't so sure about him as a presidential candidate. well sh well, that started to surface in the exit polls. will also, obviously, the question of electability, and he has a problem now with the tea partiers, and everybody thought that the tea party would be so much on board with newt gingrich, but now a lot of the tea partiers are moving over to the romney side. so trends seem to suggest that
romney is actually earning that front-runner status, and that he regained it in the election in florida last night. interesting though here in nevada, a caucus state which is very different from what was going on in florida and south carolina as well. >> all right. joe, we have to let you go, because the president has started to speak about his housing program, and we want to dip into that event with the president. >> but i do want to talk about some of the issues that i discussed last week, because the blueprint that we put forward was one that focuses on restoring what have always been this country's greatest strengths -- american manufacturing, american energy, skills and education for american workers so that we can compete with anybody around the world in this 21st century economy, and most importantly
the american values of fairness and responsibility. fairness and responsibility. [ applause ] now we know what happens, because we have just seen it what happens when we stray from those values. we saw what happened over the past decade when we strayed from the values. especially when it comes to the massive housing bubble that burst and hurt so many people. millions of families who did the right and the responsible thing, folks who shopped for a home that they could can afford, secured a mortgage, and made their payments each month, and they were hurt badly by the irresponsible actions of other people.
who weren't playing by the same rules. weren't taking the same care, weren't acting as responsibly. by lenders who sold loans to people who they knew couldn't afford the mortgages. and buyers who bought homes they knew they could not afford. and banks that packaged those mortgages up and traded them to reap phantom profits knowing they were building a house of cards. it was wrong. it was wrong. it triggered the worst economic crisis of our lifetimes. and it has been the single biggest drag on our recovery from a terrible recession. crushing debt has kept millions of consumers from spending. a lack of building demand has kept hundreds of thousands of construction workers idle.
everybody involved in the home building business, folks who make windows, folks who make carpet, they have all been impacted. the challenge is massive in size and in scope. because we have a multitrillion dollar housing industry. economists can tell you how it has affected all sorts of statistics from the gdp to consumer confidence. but what is at stake is more than just statistics. it is personal. now, i have been saying that this is a make-or-break moment for the middle-class, and this housing crisis struck right at the heart of what it means to be middle-class in america, our homes. the place where we invest our nest egg, the place where we
raise our family, the place where we plant roots in a community, the place where we build memories. it is personal. it affects so much of how people feel about their lives, about their communities, about the country, about the economy. we need to do everything in our power to repair the damage and make responsible families whole again. everything we can. [ applause ] now, the truth is that it will take more time than any of us would like for the housing market to fully recover from this crisis. this was a big bubble. and when it burst, it had a big
effect. home prices started a pretty steady decline about five years ago, and government certainly can't fix the entire problem on its own. but it is wrong for anybody to suggest that the only option for struggling responsible homeowner s is to sit and wait for the housing market to hit bottom. i refuse to accept that and so do the american people. there are more than 10 million homeowners across the country reegt now who because of an unprecedented decline in home prices that is no fault of their own owe more on their mortgage than their homes are worth. it means that the mortgage, your house is under water.
here in falls church, home values have fallen by a quarter from the peak. in places like las vegas, more than half of all homeowners are up en -- under water, more than half. so it is going to take a while for the prices to rise again, but there are actions that we can take right now the provide some relief to folks who have been responsible, have done the right thing, and are making their payments on time. already thanks to the outstanding work in part of the secretary of housing and urban development shawn donovan who is here to dday -- [ applause ] -- and there he is. a good looking guy here in the front.
the housing plan we launched a couple of years ago has helped nearly 1 million responsible homeowners refinance their mortgages, and they are saving an average of $300 on their payments each month. $300, which is great. [ applause ] the programs that we have put forward have not worked at the scale that we hoped . not as many people have taken advantage of it as we wanted. mortgage rates are the lowest they have been in a half a century, and when that happens usually people flock to refinance, and people take advantage of it and save money, but this time, too many families have not been taken advantage of the low rates, because they are under water, and then you have the fees involved in refinancing
and people said, you know what, even though i'd like to be cutting down my monthly payment, the banks just aren't being real encouraging. so last year we took aggressive action that allowed more families to participate. and today, we are doing even more. it is the main reason that i'm here today. [ applause ] as i indicated in the state of the union last week, i am sending congress a plan that will give every responsible homeowner in america the chance to save about $3,000 a year on their mortgage by refinancing at historically low rates. [ applause ] no more red tape.
no more run around from the banks. and a small fee on the largest financial institutions will make sure that it does not add to the deficit. i want to be clear that this plan like the other actions we have taken will not help the neighbors down the street who bought a house they could not afford and then walked away to foreclose on it. it is not designed for those who have acted irresponsibly, but it can help those who have acted responsibly. it is not going to help those who bought multiple homes just to speculate and flip the house and make a quick buck, but it can help those who have acted responsibly. what this plan will do is to help millions of responsible homeowners who make the payments on time, but find themselves trapped under falling home values or wrapped up in red tape. if you are ineligible for
refinancing just because you are under water on the mortgage, through no fault of your own, this plan changes that. you will be able to refinance at a lower rate. you will be able to save hundreds of dollars a month that you can put back in your pocket. or you can choose those savings to rebuild equity in your homes which will help most underwater homeowners to come back up for air more quickly. now, to move this part of my plan, we are going to need congress to act. we are going the need congress to act. i hear some murmuring in the audience here. we need them to act. but, we are not just going to wait for congress. we are going to keep building a firewall to prevent the same kinds of abuses that led this
crisis, led to this crisis in the first place. so there are things that we can do administratively that are also going the help responsible homeowners. already we have set up a special task force, and i asked my attorney general to establish to investigate the kind of activity banks took when they packaged and sold risky mortgages. that task force is ramping up the work as we speak. we are going to keep at it and hold people who broke the law accountable, and help restore confidence in the market. we are going to speed assistance to homeowners and we are going to turn the page on an era of recklessness that hurt so many hard-working americans.
today, i am also proposing a homeowners bill of rights, one straight forward set of common sense rules of the road that every family knows they can count on when they are shopping forrer a mortgage. no more hidden fees or conflicts of interest. no more getting the run around when you call about your loan. no more fine print that you use to get families to take a deal that is not as good as the one they should have gotten. new safeguards against inappropriate foreclosures, and new options to avoid foreclosures if you fall on hardship or a run of bad luck. and -- [ applause ]
-- and a new simple clear form for new buyers of a home. now, think about this. this is the most important purchase that a family makes, but how many of you have had to deal with overly complicated mortgage forms and hidden clauses and complex terms? i remember when michelle and i bought our first condo. and we were both lawyers. and we are looking through the forms, and kind of holding it up. and reading it again. what does this phrase mean? and that's, you know, for two trained lawyers. the forms, the confusion, and the potential for abuse is too
great. just because the forms were too complicated, so this is what a mortgage form should look like. this is it. now that our new consumer watchdog agency is finally running at full steam -- now that richard cordray is in as the director of the consumer finance protection bureau -- they are moving forward on important protections like this new shorter mortgage form. simple. not complicated. informative, not confusing.
terms are clear. fees are transparent. this is by the way what some of the folks in congress are trying to roll back and prevent from happening. i guess they like complicated things that confuse consumers and allow them to be cheated. i prefer actions that are taken to make things simpler, and easier to understand for consumers so that they can get the best deal possible. especially on the biggest single investment that most people will ever make. american h s making a down paym on their dreams should not be terrified by pages and pages of fine print. they should be confident that they are making the right decision for the future.
now, there's more that we are announcing today. we are working to turn more foreclosed homes into rental housing, because as we know, and a lot of families know that empty house or for sale sign down the block can bring down the price of homes across the neighborhood. we are working to make sure that people don't lose their homes just because they lose their jobs. these are steps that can make a concrete difference in people's lives right now. as i said earlier, no program or policy will solve all of the problems in a multi-trillion dollar housing market. heights of the housing bubble reached before it burst, those were unsustainable. and it is going to take time to
fu fully recover. that requires everybody to do their part. as much as our economic challenges were borne of eroding home values and portfolio values, they were also borne of an erosion of some old fashioned american values. an economy that is built to last that is on a firm foundation so that middle-class families have a sense of security and those who want to get in the middle-class can make it, if they are working hard, that demands responsibility from everyone. government must take responsibility for rules that are fair and fairly enforced. banks and lenders must be held accountable for ending the practices that helped to cause this crisis in the first place.
and all of us have to take responsibility for our own actions or lack of action. so i urge congress to act. pass this plan. help more families keep their homes. help more neighborhoods remain vibrant. help keep more dreams defended and alive. i promise you that i'll keep can doing everything that i can to make the future brighter for this community, for this commonwealth, for this country. thank you, everybody. god bless you. god bless the united states of america. thank you. >> i want to bring in our own christine romans to talk about what the president is proposing here. christine, we know that the president's plan is aimed at helping struggling homeowners
take advantage of the historically low interest rates, and they have tried programs in the past, and they have been rather disappointed. do we think that this is really going to benefit folks? >> this is different and again he is challenging congress to pass this. this is something for people who are current on their loans, but under water on the loans, and you want to stay in the house, and pay your bills and you could have a lower mortgage payment if you could get the record lower mortgage rate rates, but you ca because you owe more on the house than you have in value. the president said it would save on average $3,000 a year, and a fee paid for by the big banks and help people with a credit score of 580 to qualify. as it is now to refinance, you have to have a really good credit score, maybe 750, and equity in the home and a job.
people who could lower the mortgage payments, but he wants to do a better job of letting people take advantage of that. >> christine, this is a major process when you refinance your home here, and my sister is going through all of the paperwork of all of that now, and so there are pros and cons to this, but is it really a good idea, because it is almost like you are buying your home all over again? >> i am sure your sister would not call it a process or maybe a different word, because it is horrible. it is really horrible, suzanne, because there is so much paperwork and it is like buying your home all over and say you have a mortgage rate of 5.25 or 5.50 and you could get a mortgage rate of 3%, you are save so much money going into the economy and that means you are saving for college or maybe buy a new car or maybe just in a new financially flexible position, so it is good for the economy to unlock that and get the housing market a little more robust. there are cost cans associated with the refinancing, and no question. you have to pay the closing
costs and that depends where you are around the country, but the mortgage rate are so low that people who have refinanced twice in the last 18 months and even with the upfront cost, it is still making sense for them, but again, the people who are benefiting from the refinancing are not the people that the president are talking about. they are the people who have been shut out of the low mortgage rates who could help to try to revive the housing market, but they haven't been able to. >> and real quick here, christina, the housing market is central to the economic recovery and how is the housing market doing here? >> well, for the past 18 months the home prices have been basically drifting down. and you are seeing the housing activity and the sales are picking up, but the prices aren't. this is the case-shiller pricing index and you are back to mid--2003 pricing levels and since the bubble burst, we are at new low home prices. you made a good point, suzanne,
there are several different programs and they have helped maybe 1 in 4 homeowners that the white house hoped they would, and in part, that is the way that the programs were designed, and they were disappointing, which is the right word, but the housing crash is worse than we thought, and we are having to deal with that. >> thank you, christine. we are remembering next the life of the "soul train" creator don cornelius. i will talk to gladys knight about his legacy. ♪ ( whirring and crackling sounds )
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of what's going on with your portfolio. we know all this because we asked you, and what we heard helped us create pnc wealth insight, a smarter way to work with your pnc advisor, so you can make better decisions and live achievement. music icon don cornelius has died. >> i'm don cornelius and always as in parting, we wish you love, peace and soul. >> police tell the los angeles coroner that don cornelius the creator and former host of the "soul train" show and awards died of a gunshot wound to the head. our alan duke is covering the story on the ground in los angeles. but first, i want to go to a friend and music icon and legend herself and that is gladys
knight who joins us on the ph e phone. ms. knight, thank you so much for being here. you knew don cornelius personally and you have been a part of the "soul train" family and tell us what he means to you personally and to the entertainment world. >> oh, he means so much to me. he really, really did. he opened up so many avenues for african-american artists, and you know, i grew up lis epping to everyone. and then for a division as far as music was concerned, they separated us from r&b to pop and to this and that, and we had no face on television. we were still able to get our music through, and thank god that he and berry gordy were working in that area, and our music had become popular. my dream was for us to have that faith, and don is the one who brought it forth. he took his own money and scoured the sidewalks trying to get people to believe.
he came to us, gladys knight and the pips and said, hey, look, i'm trying to get this television show done and i need a pilot and somebody with a name. that came about in the '70s and we were blessed to have at that time some of the hottest music out there, and as a group of people, african-americans, we were fighting with each other, and so we said, of course, we would do it for you, and we did. the show became a smash hit. dick clark who is a very, very good friend of ours was up with "american bandstand" and he was taking a giant step to even compete in that arena where dick clark had such a hold with the "american bandstand" but he was brave, and he went out and he did it. we, as artists, are so grateful to him for giving us that faisp. he gave people with commercial opportunities to have a way to get the products out. he was a pioneer like you would
not believe, and he is really an unsung hero. he really is. people used to ask me all of the time what soul was. you know. they would say, like, what is soul? you know. and i'd try to explain to them. don made that which is an inner feeling and something that you feel spiritually and deep down and have a passion for things made that a common word, soul. and i loved about that about him, he brought it to the fore. >> he did, because i grew up watching "soul train" with my family and it is a special, and had such special meaning for all of us. we saw you a couple of months ago being honored at the "soul train" awards there, and they showed some of the beautiful clips of you and the pips there, and it was a beautiful ceremony. can you give us a sense of what it was like when you first met him and you were first on "soul train," how that, what your
impressions were at that moment? >> it was amazing. one thing you have to remember that the mettle of the time. i mean, to have a businessman to go say i'm going to be on television and bring all of the artists on and that kind of thing with the social environment being as it was, you have to give him his due. i think that i mentioned that, too, when i made the acceptance speech for that award that i received from "soul train" not too long ago. i was so honored to know him and to know how hard he fought for us to have a base and a name, and it was during the time when that was just almost unheard of. so, you have to give the don the credit, and last time i saw him, he was pretty sick, you know. and he had lost a lot of weight, but he still had that thing about him, you know. i said, don, we keeping on, and he said, keep on, you know. so here we are. and to do it at that time was
amazing, and reminded me when i was on ted mack in the '50s, because we have come through so many things or how dr. king tried to come through and tell everybody to love each other, and everybody should have an opportunity, and the president is saying that today, everybody should have an opportunity to succeed. so, don was one of those people who helped to make that happen. i'm grateful that i passed this way with him that i walked that journey with him and watched all of the things that he did and what he had to go through to do it. he was an amazing, amazing man. >> ms. knight, thank you so much. i know one of the things that was always beautiful to watch and enjoy on those weekends to see all of the performers and the entertainers and of course, we all wanted to get on the "soul train" line, too. >> yes, getting there. >> that is the big thing. and was he as cool and calm and have that kind of cool demeanor as he came across on television?
>> every step of the way. don was always don. if you talked to him socially, if he was on "soul train," he was that same character, that same person that you saw on that tv. he was just very laid back, very intellectual, and he was one of those people. and you know what i loved about don? he always encouraged us to be ourselves. and that's how you got to see us dance the way that we danced, talk the talk that we talked and sing the way that we sing. he was just a supporter of that, you know, like, be yourself. we are going to the give you the platform and you go out there and do your thing, and you know what? he always let us know that he was proud of us. >> thank you so much gladys knight, and so fun to see the pictures of don cornelius and back in the day of the "soul train" line is so touching for so many of us.
thank you, again, ms. knight. i want to bring in alan duke, our entertainment editor who is live on the phone from los angeles with the latest on this. alan, can you explain the circumstances surrounding his death? >> well, we have new information a short time ago i talked with the chief assistant at the coroner's office, and the los angeles police who were on the scene told the coroner that they found don cornelius suffering a gunshot wound to the head that they believed was self-inflicted. it was at a home on mullholland and the address we checked is the same address where we know that he had lived. we don't know if he was living there at the time, but that is the residence, and he was taken to cedar sinai medical center where he was pronounced dead, and they will do a autopsy on him to see what the police suspect, and confirm if it was a self-inflicted gunshot wound. >> alan, do we know if he was
alone in the home at the time? >> no, all we know is that someone called 911 and the fire department went to the residence at about 4:00 this morning. with we do not know anything more, because this is very, very recent. >> allan, one thing that gladys knight mentioned is that he was very, very ill, and do we know of any health complications in this? >> i don't know anything about the illness, but people have told me that he had suffered from illness and he had fallen on tough times, because four years ago he was arrested on a domestic felony count, and later did a plea deal on that and on probation deal that would have expired next month for an incident that happened in that hoemt mullholland, but others have said that he is in ill health, but we don't know whether that contributed to what happened today. >> tragic, tragic ending. alan, appreciate it.
it is the most negative campaign ever according the a group who looks at the political ads, and it is just getting started. we will look at the slugfest between mitt romney and newt gingrich and what it means for the long campaign ahead. more important to do. g he wasn't focused on his future. but fortunately, somebody else was. at usaa we provide retirement planning for our military, veterans and their families. now more than ever, it's important to get financial advice from people who share your military values. for our free usaa retirement guide, call 877-242-usaa. your doctor will say get smart about your weight. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's new glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. and they have 6 grams of sugars. with 15 grams of protein to help manage hunger...
mitt romney has momentum, and gingrich defiant. rick santorum and ron paul are still hanging on. the nevada caucus cans are three days away and joining us to talk about the republican race going forward is larry sabato, and so, we are moving from the florida primary to the nevada caucuses, and very different situation. caucuses you need organization and passion from the folks, because they come out to listen to the speeches at a public hearing and then they cast their vote. i don't suppose that a lot of money for commercials makes that much difference in nevada. who does that actually benefit? do we know? >> well, in nevada, it has to be romney simply because he has the
base there. he won 51% of the nevada vote at a time he was losing elsewhere in 2008. so he's a very heavy favorite in nevada. there is also a very large mormon population that will vote in the republican caucuses. now, other states, it is different. you know, there's a poll out from ppp showing that rick santorum is leading mitt romney in the beauty contest missouri primary which is next tuesday. there are caucus states where i am told that ron paul is making a fair bid to wip or close the winning. in maine or minnesota or possibly the washington state caucuses right before super tuesday, so look, to say that mitt romney is the clear favorite to be the republican nominee is obvious, but i think that it is also important to note that it is not over, and that the other candidates will almost certainly win at least some contest between now and
june. >> and i should say nevada. i have been told that is how folks say it there. and we have a new study out, and this is the most negative campaign in history. we have a group, the campaign media analysis group who says that 92% of the ads in florida were negative. romney and gingrich have both talked about it. this is how they responded to t it. >> did you let your guard down to mitt romney, would yu say? >> no, when you are outspentb with ads 5 to 1 that are dishonest, then you have a difficult time. >> and the people here in florida concluded that his campaigns were the most negative. >> so larry, no doubt, no question it is a negative campaign and what kind of impact will it have on the general election? >> well, it doesn't help the nominee simply because it creates divisions within the party that are then tougher to heal. sometimes they heal, as they did in the obama/hillary clinton
contest in 2008. sometimes they don't heal as in the carter/kennedy contest back in 1980. and look, it was an extremely negative campaign, but number one, it worked and number two, suzanne, maybe it is my age, but i have seen so many highly negative campaigns, that i would put the lbj/goldwater race in 1964 and the bush/dukakis race of 1988 right up with this one or right down with this one i guess you could say, because we have had a lot of extremely negative race, and somebody still wins. >> well, it is not the age there, because i remember the slugfest between hillary clinton and barack obama was drag out, and knock out kind of fight that went on for a long time, and do we think that rick santorum and ron paul will stick this out for a little bit longer? >> well, it is an easy bet for ron paul. yes. he will stick it out all of the way through, and will be at the c
convention, and in some role i would think given the number of delicates that he will have. rick santorum, i'm less sure about simply because he is -- he is young. he has a future, and he can run again. gingrich is not running again, and ron paul is not running again and romney is not running again, so there is a different dynamic with rick santorum, and may encourage him at some point to make the peace with the eventual nominee and the party establishment. >> all right. larry, good to see you. thank you as always. all right. super bowl coming up, and are you thinking of buying a tv? don't do it up the ill you check out the top tips. up next. ♪ there's a place i dream about ♪
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either way, you need a good tv. felicia taylor has top tips. >> i just like to watch because it's a big party. what should you look for in a new tv? >> i'm with you, suzanne. i just want to go for the party. absolutely. but when it comes to televisions, 111 million people watched last year's broadcast f you're planning on finding a new tv to watch, they are not offering great deals but prices have come down in the last year. it's still possible that you can get a decent price. shop 5r7bd a little bit. suzanne? >> four daysing in t until the . is it even possible to get tickets? we lost her. maybe she'll come back and answer that question for us.
maybe there are still tickets available. all right. mitt romney certainly talking like a front-runner and now he's going to travel like one. his own secret security. we have the details in the political ticker up next. that's why we offer accident forgiveness, where your price won't increase due to your first accident. we also offer a hassle-free lifetime repair guarantee, where the repairs made on your car are guaranteed for life, or they're on us. these are just two of the valuable features you can expect from liberty mutual. plus, when you insure both your home and car with us, it could save you time and money. at liberty mutual, we help you move on with your life, so get the insurance responsible drivers like you deserve. call us at... or visit your local liberty mutual office, where an agent can help you find
the credit bureau warns about printing tickets. i've used stubhub.com and and also ticketmaster. tickets start at $2200 each. >> really? >> and that doesn't include the airfare to indianapolis. >> and once you are there, can you get into the stadium? is it a tough thing to do? >> well, if you have a ticket, of course not. but like i said, if you're going to go there without a ticket and just hope that you can get them outside of the stadium, you might have a problem and you're certainly going to pay a premium and people are trying to sell tickets. >> felicia, thank you. i'm just going to find a party and sit there and eat and have a good time. >> me, too.
the first lady put jay leno on the spot last night. forced him on camera to eat better and that was a milestone. check it out. >> wait, wait, wait. we have apples. because i heard you haven't had an apple in a decade. some of our white house honey. >> this is white house honey? >> because if you dip it, it will help it go down a little easier. >> white house honey. that sounds bad. a different president, that could mean a whole different thing. >> well, that's pretty funny. mitt romney back on top taking back front-runner status. a huge bin in florida. park preston is joining us. honey actually comes from bees and beehives at the white house and they take the honey from the
bees. >> that's the whole garden issue. it's interesting. it's not quite like playing football. >> exactly. >> tell us a little bit about the race. mitt romney, newt gingrich, a lot of back and forth. hard hitting and very negative ads here. gingrich didn't pick up the phone and call romney and say, congratulations. still a lot of glad blood? >> a lot of bad blood. i can't imagine that it's ever going to get better. there's been a lot of discussion in the last 12 to 14 hours about why newt gingrich didn't do it and voters care. it's not whether voters care. it's symbolic of how bad it's gotten between mitt romney and newt gingrich. very personal. but they go beyond policy. last night newt gingrich's daughter was asked by piers morgan about the telephone call. she said, look, it's the fact of the race and we're going on to 46 more states and we plan to
win. so are you ready for this one? we're in for a long haul. >> a little bit of bitterness. >> yeah. so mitt romney will pick up secret service protection and we've already -- there's a blessing and a curse. for the many years that you've covered the white house, the blessing is that the secret service in many ways can be a buffer so that the reporters can't get veaway and he needs t get closer because he's the one person that is not relating enough or not really close or connected to folks who are every
day working folks on the ground. >> yeah. and really that is something that his campaign is trying to overcome, that he's somebody that can relate and pat you on the back. remember bill clinton and jay leno, he would grab your arm and pull you in and pat you on the back. he might not know you but that's what he would do. >> where are you headed next, mark? you and paul are across the country doing the tough work here. >> get to go home for 24 hours tonight and then we're back on the campaign trail. but then we're back on the road. >> does your wife and dog still recognize you? >> the dog does. the wife? written me off a long time ago. >> okay. thanks, mark. top of the hour, i'm suzanne malveaux. they might be bringing up the rear but they are not throwing
in the towel. rick santorum and ron paul pushing ahead. paul is in las vegas this hour. the nevada caucuses coming up. santorum campaigning colorado. caucuses are just six days away. mitt romney has momentum after a big win in florida. he took 46% of the vote compared to 32% for newt beginning richl. his victory follows a bruising campaign, barrage of negative ads targeting gingrich. defiant. the results show that this is a two-man race. he says it's going to keep going all the way to the republican convention. the death toll in syria keeps rising while diplomats there are struggling with how to handle this. an opposition group now says 63 people have been killed today alone in the cities across
syria. this video was just posted online. it's said to show fighting in the city of homs calls for bashar al assad to step down but russia and china want dialogue. a nato report indicating that pakistan is helping the taliban. pakistani intelligence forces are keeping track of taliban commanders. the paper says the taliban don't believe they need help and are confident they will win the war in afghanistan. nato is downplaying the importance of this report and pakistan firmly denies helping the taliban. an amtrack train in michigan went off the rails this morning after hitting a car at a highway crossing. the engine tipped over on its side and two passenger cars jumped the tracks.
thankfully no life-threatening injuries were reported. sad news now to report from california. music icon don cornelius, the creator of "soul train." he died of a self-inflicted gunshot wound. he started "soul train" with $400 of his own money and went on the air and top r and b performers in the last hour i spoke with gladys knight about the life and legacy of don cornelius. >> every step of the way, don
was always there. he was that same character, that same person that you saw on that tv. he was just very laid back, very intellectual. he was one of those people and you know what i loved about don, he always encouraged us to be ourselves. >> in a few moments we're going to hear more about the impact, the legacy of don cornelius. i'm going to hear from deborah lee which airs the "soul train" music awards each year. here's your chance to talk back. you president obama and his efforts to new charm offensive connecting with the middle class? carol costello is joins us from washington. he's putting on the charm, huh? >> at least he's trying, suzanne. as mitt romney celebrates his
florida victory, president obama is defending himself as middle class. they don't quite get no drama obama. they wonder why the president can't express his ideas more clearly. comedians poke fun at him at an emotionalist obama who hires an anger translator named luther to convey what mr. obama really means. >> so, just so there's no confusion, we've hired luther to be my anger translator. since being in office, we've created three million new jobs. >> three million new jobs. >> and the war in iraq. >> we ended a war. >> and serve as a ree minminder i am on your side. >> i am not a muslim. >> the president seems to be trying to connect. he actually sang a bar of an al
green song at a fund-raiser in new york city. ♪ i'm so in love with you >> and on nbc he celebrated actress betty white's birthday by poking fun at himself. >> dear betty, you look so fantastic and full of energy. i can't believe you're 90 years old. in fact, i don't believe it. that's why i'm writing to ask if you will be willing to produce a copy of your long form birth certificate. >> of course, charm can only get a politician so far if he or she doesn't deliver the goods. if you're not employed and under water on your mortgage, it might not cut it for you. still, president obama says he can deliver the goods. he did that in virginia earlier today. but will president obama's new charm offensive convince
frustrated middle class voters to listen? "talk back" question today is, is obama's new charm offensive connecting with the middle class? facebook.com/carolcnn. >> i don't know if it's connected with low class but several women that have the singing of the al green singing. it's a ring tone on their phone. it's caught on, you know. >> it increased al green's record sales by, what, 500% or something like that. so he did connect. i don't know if in the right way but he connected. >> people are talking about it. all right. thank you, carol. >> sure. we are watching mark zuckerberg and his company facebook today. why? if they file ipo paperwork as expected. facebook is going to shake up the financial world big time. i want to go to fell sheesh r lea felicia taylor from new york.
do we know how long it will be for folks to own, buy a piece of facebook? >> absolutely. if they file a paperwork and it takes up to maybe three, four months for the actual shares to be traded. let's talk about that process with kenny. how does the ipo process actually work? >> they will file the paperwork today and then go on the road show. they will go around the country, seeing large asset managers to sell them on the story. clearly i don't think people need to be sold on the story. that's going to be the easy part. then it comes the whole pricing. what are they going to value it at. are they bringing 10% of the company to market, 15% to market? whatever that is, it is. they will come up with a nice price and then they start to gauge investor interest. now n. this case, investor interest can be large asset manager investor interest but i also have to believe in this case it's also going to be
retail investor interest. >> now, not always are retail investors able to get in on an ipo like this. you think differently, that this time the eank average investor might be able to get in. why? >> well, listen, let's talk about facebook. what is it? it's all about the individual. it's people like you and me that have made facebook what it is today. people around the world have made it. the last thing i think is that mark zuckerberg is going to want to do is upset the banks. i think this is his way of saying, i'm reaching out for you and i want you to be a part of this success. we're a part of this success. you have made us successful. i want to you participate. so i would not be surprised to see in this filing some appropriation for the retail, certainly not the whole thing but some appropriation. i think we're going to be surprised to see that. >> thanks, kenny.
one trader told me that what they are hearing is it could be priced between 38 and $42 a share. what often happens is that the shares run up during the first couple of days of trading and then they settle down to where they are going to be, an average price. usually the average investor doesn't get in for a day or two. back to you. >> thank you, felicia. appreciate it. here's a rundown of the stories that we're covering for the first hour. first, the head of b.e.t. talks to me about don cornelius. and the tape recordings from the day that jfk was killed. plus, can you spend three months without sending a text or e-mail? we'll talk to a guy who made that pledge and he's better for it. white meat chicken. the way i always made it for you.
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sad news. music icon don cornelius has died. >> i'm don cornelius. i wish you love and peace and soul. >> police tell the los angeles coroner don cornelius, the creator and former host of "soul train" died of a self-inflicted gunshot wound to his head. last night i spoke with gladys knight and how he opened doors for african-american singers. >> we as artists are so grateful to him. he gave us opportunities, for ways to get known.
he would say, what is soul? i tried to explain, don made that, something that you feel spiritually and made that a common word, "soul". >> joining me now for more on that, kareen wynter and what do we know about the circumstances surrounding his death? >> well, suzanne, very sad and shocking news today about the legendary icon in this entertainment industry. "soul train" creator, don cornelius, died from a self-inflicted gunshot wound to the head. we're told that there is going to be an autopsy done sometime today to see if that was at all
self-inflicted. but you heard from gladys knight. suzanne, there's so many people just reacting to this really, really tragic death. i'm actually still on the phone. i put them on hold. full force from the 1980s. they worked very closely with don cornelius over the years and they told me something really interesting. don -- so many people reached out to him over the years to comment on their work and you see that plaque right there, that was supposed to have been presented to don cornelius this past saturday at a screening here in engel wood, california. and i'm told by full force, the group that don's people called him, texting him at the very last minute saying, you know what, something came up, we can't make it. and the reason they wanted to honor him with this plaque, it was the one documentary that he agreed to do. it just aired this past monday. unsung, the full force story. he talked about this group, full force, who he mentored over the
years and they were close trains and even after "soul train" ended, don cornelius kept in touch with the group. i spoke with the members right before coming on air. so emotional and blown away by this tragic, tragic news trying to figure out how this all happened and why it all happened. again, he was supposed to be at this special screening in even gel wood, california. something came up. not sure if it's at all connected to these new developments but they are stunned and i'll be catching up with them, speaking to them after this to find out more regarding this very tragic story. suzanne? >> kareen, thank you. i know our blackberries are blowing up with messages from people with reaction. i want to bring in deborah lee. b.e.t. airs the annual "soul train" awards, and you clearly
recognized his legacy. can you talk about what he was like and what he meant to you? >> right. don cornelius was such a pioneer in the music business. he gave exposure to african-american artists in the '70s, '80 sds, '90s that was not available in other outlets on tv. african artist americans could not get on "soul train" and he provided an outlet for our artists. he grew up in greensboro, north carolina. every saturday i had to get my chores done so i could watch "soul train" and learn the latest dances, hear the latest music, see the latest fashion. and he really had such a connect to youth culture, don cornelius did. and the "soul train" show is
just a legacy that would be there for him always. his favorite love, peace, and soul as a way of signing off will go down in history. it's changed the way that people have danced and he is such a kr creative businessman. other than soul train, the only thing on tv at the time was a show called it "julia" which starred diana carol. he did so much to uplift our artists and to give artists young america. from motown artists and other labels, he was such a great, charming man. i've met him personally many
times. he usually comes to clyde davis' annual grammy party which will happen next week. i know it's going to be really sad for him not to be there. the last time he was on b.e.t. was at our 2009 b.e.t. awards program. he paid tribute to the o.j.s and told great story about the o.j.s and their history. as gladys knight said, our artists owe so much to him. he also had nonafrican-american artists, like elton john and david bowie, the average white band. it was a badge of honor for a white artist to come on soul train because standing there next to don cornelius, you couldn't get any cooler sthan that. >> he got some key points for that, right? >> yes. he was the epitome of soul. at b.e.t. we're proud to carry on his legacy with the continuation of the soul train
awards. as you said, suzanne, we were down there in atlanta a couple months ago. we've been doing that show for three years. and when the artists come and accept a "soul train" award, they still tell stories about how wonderful don cornelius is and they paid tribute to him like gladys knight did, like with "earth, wind, and fire" and he paved the way for b.e.t. to exist, for us to have a show like video soul, and now 106 and park. he paved the way for the video awards. we owe so much to this great man and it's a sad day in the music industry and the black business community to have to see his death happen like this. >> debra looer, thank you so much. ceo of b.e.t., thank you. >> great. thank you. a texas teenager is deported
to colombia even though she had never been there before. now she's here to talk to cnn about the ordeal. for our military, veterans and their families. now more than ever, it's important to get financial advice from people who share your military values. for our free usaa retirement guide, call 877-242-usaa.
. it's been almost 50 years, but if you're old enough to remember, it's a moment that no american could ever forget. november 22nd, 1963, the day jfk was shot and killed in dallas. >> president kennedy has been assassinated. it's official now, the president is dead. people here in shock, grown men standing by the emergency room, tears coming down their face. >> that same day, lyndon b. johnson would take the oath of office aboard air force one. he and his wife also made this phone call from the plane to president kennedy's mother rose
to give her the terrible news. this is a newly released tape of that conversation from the national archives. >> yes, mrs. kennedy. >> mrs. kennedy? >> yes. yes. mr. president, yes. >> i wish to god there was something i could do. >> yes. well, thank you very much. thank you very much. i know. i know you loved jack, and he loved you too. >> we are glad that you had a son. >> thank you, lady bird. thank you very much. bye-bye. >> love and prayers. >> thank you very much. good-bye. good-bye. >> the jfk library has also released 45 hours of new recordings of president kennedy
himself from his time in the oval office. you can find those at jfklibrary.org. mitt romney adding to his credentials as front-runner but what does his big win in florida mean for the road ahead? our own wolf blitzer will weigh in on that next. to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today.
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here's a run down of some of the stories that we're working on next. super pacs have spent a lot of money supporting these candidates. but we now know how much. a couple goes from earning 100 grand to sleeping homeless on their neighbor's couch. later, you heard that facebook may soon offer an ipo. we're going to hear what exactly an initial public offering is. mitt romney is the front-runner in nevada. we want to bring in our own wolf
blitzer to find out what exactly that means. >> 3:00 a.m. in iowa, last night we projected mitt romney wins florida so not as exciting. >> yeah, it was kind of wrapped up by 8:00. but floor is a microcausm of the country. romney did pretty well across the board in all areas. does it give us an idea about how he would perform in the general election? >> i think it does. it shows that in florida, which will be very competitive and both of the republican candidate and democratic candidate, the president of the united states, they are going to work aggressively in florida. it's the fourth largest state. the first three largest states that determine new york always goes presidential in a presidential race for the
candidate. california as well. texas always goes for the republican candidate. so florida is the biggest prize in the competition. and what we saw from mitt romney yesterday, he did really well with all of the groups basically in the northern part of the state, southern part of the state. northern counties he didn't do so well. the real southern part of florida, which happens to be in the northern part of this state. but it shows that florida is going to be very competitive. i suspect if mitt romney were to get the nomination, he would be very competitive against the president. >> newt gingrich says he's going to go all the way with this until the republican convention. so this could be a long slog here. but we saw in florida -- he was talking about everything from setting up colonies on the moon, going after what he thought what could be mitt romney's vulnerabilities, that he's run a dishonest campaign. does newt gingrich need to get one message straight going into the contest forward? >> he certainly does. he needs to look ahead. look, i think he was so angry at what happened to him in iowa
when the anti-newt gingrich super pac ads that mitt romney super pac put out in iowa collapsed his campaign there. he didn't really respond. he tried to take the high road and he realized in iowa after losing badly there, if somebody hits you, you've got to hit right back. it's getting very personal and very ugly. he emerged from south carolina the big winner and he sort of held back a little bit going into florida. i think he began to think he was about to get the are republican presidential nomination. what he did in florida and the enormous amount of negative ads he can't blame anyone except himself for that.
he's got to rethink his tragedy. >> don cornelius passed away -- >> you were my date. and brooke baldwin, too. >> he really set the path. i grew up on soul train. you're a soul train fan. >> i watched it every week. i loved soul train and don cornelius was an icon and my heart goes out to his family. he really did an amazing amount for music in our country and all of us who grew up watching saw what he did, the artist that he helped elevate. i'm really sad that he's gone. >> we all are. thank you, wolf. appreciate it. big money being spent in the election. a lot of it coming from what we talked about, the super pac. christine romans is breaking
down the numbers. >> they can't coordinate with the campaigns. they are basically working for the benefit of the candidate, parallel but separate from the campaign. what is this money buying? ad time, you name it. they have names like make us great again and red, white, and blue fund. endorse our liberty is another big one. the super pac working to elect mitt romney is the biggest. it's called restore our future. it raised millions from hedge fund and private equity managers. we now know that four of them gave $1 million each last year. winning our future, that's on behalf of newt gingrich. his campaign raised $5 million in january alone. the super pac which he does not direct raised big money. several donations, $500,000
each. that doesn't include the january support from billionaire casino owner and his wife. there's also the stephen colbert super pac. it's called americans for a better tom. he said, it's the way our founding fathers would have wanted it if they had founded corporations instead of a country. big money from the candidates raising money and big money in the super pacs raising money to spending money. suzanne? >> thanks. today's talk back question, is obama's new charm offensive keblthing with the middle class? and you can call him a cook and a fighter. why this guy made our cnn next list. >> it's really a person that explores the science of food. we're always exploring what this
you really want to be careful, you can't use something as abrasive as a toothpaste because it will cause scratches. as a result of those scratches, bacteria will get lodged in that denture and as they multiply in the mouth the odor can get stronger. i always advise my patients to use polident. it has specific agents in it that can kill bacteria. using polident daily, you definitely will not be creating the scratches. you're going to have a fresh bright smile, and you're going to feel confident.
>> does the president have to worry about the boxing part? >> sometimes when he sees me punching he kind of -- >> you are competitive. >> oh. i didn't mean to hit him that hard. you've been sounding off on the talk back question. is president obama's new charm offensive connecting with the middle class? carol costello is joining us from washington. the first lady is not that mean. she doesn't have the left hook like that. it's all about in the editing, ya? >> i bet she has a strong left hook. showing their human side. that's the talk back question
today. does president obama's charm offensive s. offensive, is it working for you? and from joe, i don't think he's connecting with the mid dell class in the right way. the people who are unemployed, underwater, they want results. and todd says, aren't they all unemployed? president obama is going to have to prove this time around to counterbalance the fact that he's surrounded himself with wall street power brokers as economic advisers. he has some hypocrisy issues. from paul, i am an obama supporter but i don't think this tactic will have much sway. after four years of a struggling economy and bitterly did i vice sif and nasty political discourse, it will take a lot more than charm to win over independents. he's got a record to defend and a vision to communicate and i think he will. and from sammi, i don't think
any of the politicians can connect with the middle class but i know what i need and want and lord knows that he's been perfect for people like me. i think he has connected better than any other politician i've seen. please keep the conversation going. facebook.com/carolcnn and thanks, as always, for your comments. >> carol, you've got to stick around for this. this is kind of funny. >> oh, no. >> we're asking you if you have your rappetite. here's what is on the menu. ready? salt and pepa, ol dirty custard. know where we're going with this? >> i don't want this described. cream puff daddies. snoop do snoop doggy corn dogs.
>> oh, okay. >> you have to be up with the rap here. apparently -- >> yeah. >> we checked this place out, carol. it doesn't even exist. if you go to the website, there's an at an la address but google map takes you to somebody's house. i don't know if they are cooking there or not. who knows. it takes you to a house. it's not really a restaurant. it's very creative and i still want the queen lapizza. >> where is the house? >> we're going to find out. >> i'm going to visit you in atlanta, we're going to explore whose house that is. >> i like the menu. it's kind of creative. >> kind of funny. >> i'm going to make one when i get home, a queen lapizza. >> you are a queen lapizza. >> carol, we'll see you. >> okay.
we're talking about facebook as well and it might be the biggest ipo company in history. what exactly is an ipo? we've got that and how soon you may be able to own a tiny slice of mark zuckerberg's business. the biggest public offerings since 1980, ups, kraft foods, at&t, not the biggest. the top two when we come back. dad, why are you getting that? is there a prize in there? oh, there's a prize, all right. [ male announcer ] inside every box of cheerios are those great-tasting little o's made from carefully selected oats that can help lower cholesterol. is it a superhero? kinda. ♪
company almost $20 billion. so facebook would not technically go public. the company hopes to raise up to $5 billion. here to explain how we can actually buy a piece of facebook, here's christine romans. >> ipo stands for initial public offering. an ipo is whether it's a mom and mop little store getting bigger and bigger or a social network conceived at a harvard dorm room that now has five million people who can get on a radar, get a track capital and grow up companies want to go public
because they want to unlock the value in their enterprise. when you can get them to buy shares and then those shares are traded on a stock market on the nasdaq or new york stock exchange, it also gets you money. when you go public, investors are putting money into your enterprise enterprise. it allows you to raise money quickly. one of the downsides is when you are a public company, you are scrutinized by the public. every quarter you have to file your numbers, your balance sheets to the securities & exchange commission so the markets can see exactly what you're doing. if you're a private company, you don't have that kind of scrutiny. you don't have investors selling their stakes in your company if you have one or two bad quarters. that's one of the reasons why they like to stay private. eventually it's everyone, like you and me and you're 401(k).
you have companies that have gone public and their shares have exchanged and sometimes you buy them outright. initially, at an initial public offering, it's the big names that get in. it's some of those original private investors. they usually get a good shot. founders of the company get a good shot to buy more if they want. fa facebook is the holy grail. it will be the biggest ipo in history. facebook has 500 private investors and when you get to that level, that threshold, that's when the securities & exchange commission says you've got to file to become a public company. you're getting too big. the whole game is about when will facebook go public, how much will the company be worth and what does the share price mean? what does it say about how this company can make money and grow
keyboard or blinking light. could you go a week or a month? jake riley did just that. no more cell phone calls, no more tvs, time to reconnect with people and about himself, jack riley joining us from chicago. you are reconnected here and tell us about why you decided to go through with it? >> i was there with five our guys and we were sitting there at a basketball game and watches the university of wisconsin weigh i noticed that every single one of my roommates was on their laptop or blackberry? i was like, what are you guys doing? we should be enjoying each other and they are playing angry birds
or mind-numbing pass woorgames thought there should be more to life than just passing the days. >> you said your routine included reading tweets, 250 people on twitter, 90 minutes a day on facebook. 1500 texts per monday. wh per month. what was it like to drop all of that? >> the first two weeks there is so much anxiety about missing out but then your mind falls into this state of freedom where all you really have is whatever is in front of you so your relationships with people change, you really just focus on whatever you're doing at that very moment and you're not always wondering what the next best thing is or looking for something better than what you're doing at that very minute. you you're forced to live with your life just then.
it's a cool feeling when you stop caring. >> and i understand you would -- we saw pictures of you writing in chalk? >> yeah, i experimented with a lot of stuff. i carry pigeons and i ended up doing more realistic things, like i would send my girlfriend with a cookie and a message or a lot of letters written -- almost more than 100 handwritten letters over the three months and, yeah, you kind of have to be creative and stay in touch with the people thaw care about. >> i understand during this three-month process you actually got back together with your girlfriend, that you guys weren't together, you were kind of on rocky times, you got back together. what did you learn about people and your friendships, not being able to communicate through this kind of social media? >> i mean, i think that's what i'll take as the biggest take
away from all this, is facebook and social media, it's just kind of -- there's no end game to it. all you're ever going to be doing is comparing your life to other people and somebody with a better job, better girlfriend or whatever than you and if you can just be happy with what you have and with the girlfriend, there was no jealousy, no late-night fighting on the phone. see you at the coffee shop at 6:00 and that was all we had. it was a great new way to explore just being happy with each other. >> it's really nice. congratulations, jake. it's a good ending to your experiment there, your social experiment. nice to see you and your girlfriend back together. that cookie probably won her over as well. you know, we can survive without these things. thanks again, jake. a family of five goes from
middle class to living in one room in their neighbor's house. wait until you hear about this story. what is happening across our country today when bp made a commitment to the gulf, we were determined to see it through. here's an update on the progress. we're paying for all spill related clean-up costs. bp findings supports independent scientists studying the gulf's environment. thousands of environmental samples have been tested and all beaches and waters are open. and the tourists are back. i was born here, i'm still here and so is bp.
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>> reporter: one room home now to a family of five. >> we have the two girls who sleep on the bottom, and our oldest sleeps on the top. >> reporter: mom and dad somehow manage to sleep together on the couch. >> most of the time i lay on top of time. >> reporter: if you think you know what long-term unemployment can look like -- >> why don't you come in the kitchen. >> reporter: think again. >> you can't understand something until you've lived it. >> reporter: adam and his wife brought in more than $100,000 just two years ago. by all measures, middle class until they were both laid off. frightening new numbers show 50% of the unemployed in new jersey have been out of work for more than six months and it's a similar story elsewhere. >> i was only a technician for comcast. >> reporter: you had it made? >> yeah, i had it made. >> reporter: what's the hardest element of the situation? >> it's definitely not
financial. it's emotional. it can break you. >> reporter: the unemployment checks have run out and they have exhausted their savings. >> only benefits we get from the state right now is assistance with the food. >> reporter: human services of morris county new jersey where they live have seen their food stamp caseload surge 140% since more than 2007. >> seeing the unemployed families, that's unusual for us. >> reporter: so the bottom is falling out of the middle class? >> uh-huh. i believe that. >> have you seen something like this before? >> no, never. and i've been here since 1980. >> reporter: this is one of the wealthiest areas in the country. when you can't find a job here, you can't get by. >> we sent out a lot of resumes, pray to god someone gets back to you. >> reporter: 500 resumes later, nobody has offered her a job. >> how long do you think you can go