tv Erin Burnett Out Front CNN September 7, 2012 8:00pm-9:00pm PDT
fully clothed. >> we have much more coverage of hurricane ike there's a lot of people a couple of bars are still open. >> yeah if you can believe it or not a couple of bars are still open. first comes the rain, the wind, then the streakers and the chicken suits. even after the storm passes there's always a chance of naked guy strolling out of the woods. no one said covering the weather was easy. erin burnett "outfront" starts now. >> "outfront" next, some not so good news about the job market has a lot of people talking about big ben. but what can he do? and the reported blowout between the united states and israel that had the prime minister at his wit's end. what really happened? a key person in that room. "outfront" tonight. and a rare virus has killed three people at yosemite national park and tonight an alarming warning to nearly 30,000 other people. let's go "outfront."
good evening, everyone. big ben getting ready to go to bat. the man who has to save america was at a game casually dressed. a pair of jeans. got his hat on. but he always wears a belt. i'm betting his mind is racing. next week, ben might unleash the beast of hundreds of billions of dollars to america. why? well, today's awful jobs report, it was a measly 96,000 jobs created last month. ben bernanke has called the job crisis in america a grave concern. we all know that our elected leaders in washington so far have not done much about it lately. >> i think what we've had lately is because you've had a lack of leadership on fiscal policy. >> i just want to pause there, paul ryan. a lack of leadership on fiscal
policy. you happen to be the budget committee chairman. wasn't it the two of you that snubbed simpson/bowles and put out your own plans? being a little snarky here. there are plenty of opportunities on both sides here, that's the point we wanted to make. >> you've had bad fiscal policies here in america. and you had the federal reserve trying to bail out fiscal policy. >> okay. so ben to the bailout. it's not just paul ryan saying that. almost everybody is saying that. how much power though does ben and the fed have? because he has been funneling money, new dollars, into the u.s. economy now for nearly four years to the tune of nearly $3 trillion. $3 trillion. the goal was to lower interest rates which would then spark lending, new businesses and hiring. but still, today's jobs reports proves we have an uphill climb on the most important of those things, jobs. that 96,000 number was only part of the problem. june and july jobs numbers we also found out today were
revised lower and the number today does not keep up with population growth. we need 125,000 jobs either single month just to keep pace with that. you have to have 125,000. and then more on top of that to make progress digging out of t hole we've been in. for several years. and the other number, unemployment that fell at the rate from 8.3 to 8.1. sounds like good news but it's not. that's because 368,000 americans gave up looking for a job. so they no longer count. here's the number that matters. the share of the working age population, now actually working, is at its lowest level since 1981. so you may say, why did the stock market actually crawl higher today? well, because of the bet that bernanke would step in. the fed meets next thursday. investors expect that he will act. creating more money to bring down interest rates, spark lending, new businesses and hiring. ben does not have a silver bullet. because since so-called quantitative easing starts,
at the end of 2008, there are a few key things that happened. ben bernanke succeeded in keeping interest rates low. he's trying to help housing. was at 6.41% in november 2008 when he announced his first round of easing. it's now 3.54%. low interest rates mean people with great credit can borrow. low rates can drive prices higher. remember when housing was booming? when rates went down, people could buy bigger houses. low rates mean prices can go up. now that's happening to things like art. shares of the auction house sothebies are up 258%. since ben's easy money started. stocks in general have done well as well. the s&p 500 is up as you can see right around 70%. pretty amazing since quantitative easing was announced. only half of americans own stocks and it's a safe bet that probably fewer than 1% of americans are buying multimillion-dollar pieces of art.
easy money has sent commodity prices higher. gas prices about double. regular up leaded is now $3.90 a gallon. and food prices are up 54% over that same time frame. so easy money isn't so easy. but experts believe we're going to get more. there's no denying bernanke feels the entire weight of the economy on his shoulders. enter paul ryan, barack obama and washington. he's going to do whatever he can, even if it's not the perfect solution. if he unleashes the beast next week, will that change america's mood fast? there's only 60 days to go till the election. ben comes out with the beast, will it help romney or obama? "outfront," strike team member jim bianco of bianco research. reihan salam. and michael feldman. great to see all of you. really appreciate it. ben bernanke is in a tough spot. everybody expects him to act. other people aren't acting. so is he going to act? >> i think he is going to act.
i think we're going to get a third round of quantitative easing to begin on thursday. wore 'just quibbling about the size and type. but there's no doubt that he will act. >> how quickly will it do anything? i hate to say this but this is the way it usually goes, right, people like you, jim, have thought this was going to happen for a while. now you all think it's going to happen. so it's almost as if we have to say it's priced in. once he announced it, we're not going to get any benefit. >> that's right, since late july when we all thought it was coming. the stock mavth has gone higher. bernanke in his speech in jackson hole last month said clearly that he was looking for the stock market to go up and that would boost consumption. and help the economy. so it should already be under way. if he doesn't give it to us it would be a disappointment. >> disappointment, reihan. it's also priced in. a translation to that is we're not going to get an immediate somehow help in the economy. stocks have already reacted.
a lot of americans don't even benefit from those kinds of things. so does this do anything for the election? does this help barack obama? >> it's very hard to say because there's a real debate right now about monetary policy. it's actually the most exciting debate that most americans have never heard of. you recently have this guy called michael woodford, a really important monetary economist, who's come out and said we need the fed to engage in demand management and we need clear signals for the fed over the long term. so having a burst of qe here or there isn't really going to do it. we need a long-term commitment that the fed is going to send clear signals that as long as the economy is really weak we're going to take action. the problem is you still have a lot of folks, particularly hard money pop ulists. who are saying this is dangerous, this is too much discretion. >> right, they don't like it. >> exactly. you have some conservatives who disagree. so this is a really open question it and my own view is that we really need monetary stimulus. does it help the president? probably not. if it's this random grab bag.
if ben bernanke sends a clear signal, it could help the country and sure it could help the president in the short term too. >> in a sense, sympathize with the man. congress could you please do it, because i don't have the most effective tool. and he gets stuck doing it. because they don't. do you think this helps the president? if the american people suddenly feel, look, whether they get more signals like ryan is talking about, but that he has this under control, we're going to get some help? >> at this point, it won't have impact on jobs. i think the market has already taken it into consideration. it's not going to haven immediate impact on 401ks. but, look, the election for most people, if you're out of work or looking for work or stopped looking for work or having trouble making ends meet, whether the unemployment rate is 8.1% or 8.3%, that's not what you're voting on. you're more likely voting on the trend. >> even though it's not going down for the right reasons.
a down trend, you know, historically you would say that would help the president. >> i just don't think it does. i think actually the president -- i think what helps the president is 30 straight months of private sector job creation. a sense that he was digging out of a very deep hole from the very beginning. i think polling shows that people do understand that he started from a very bad place. but more important, i think this is what barack obama did very well at the convention, is frame it at a choice. the decision people are going to make is who's likely to lead to that recovery faster? the guy in there now or the person challenging him? >> a final word, jim bianco. do you think quantitative easing if there's more of it will help the economy at this point? >> only if you're a stockholder. it's helped the stock market. it moves it around. wall street loves it because it give us a lot of volatility. if you're the 50% that are not a stockholder, as you mentioned at the top, we've had $3 trillion of it over four years. i know bernanke says it's created 2 million jobs. i'm sure the obama administration disagrees because that means they created none.
i think it hasn't helped much in the way of job creation. it depends on which chair you sit in. >> thanks very much. it's going to be a big week next week. ahead, a report of a heated exchange between the united states and israel other iran. behind closed doors. how tense was the conversation? well, the man inside the room "outfront" next. plus, the threat of a teacher's strike could shut down america's third biggest school system. do their demands add up? and worldwide alert about a rare and deadly virus that could have infected nearly 30,000 people who are here in the u.s. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd.
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they had removed it. no one knows why. there are reports of more friction between these two crucial allies. congressman mark rogers says he attended a what he calls tense meeting between u.s. and israeli diplomats last month and he says israeli prime minister netanyahu was at his, quote, wit's end, over how the obama administration is handling iran. the whole world is wondering who is going to do what when it comes to iran. willis real -- will israel strike. israeli ambassador to the united states michael orrin was at that meeting. i asked him what really happened. >> i've been through many meetings like that one. erin and this one was no different. it was frank. candid. substantive. respectful. this is the way friends talk to one another. and we are looking at the situation of the iranian nuclear program. israel is a small country. with certain capabilities.
it's located in the backyard of iran. it's threatened daily by iranian leaders with destruction. we have a window which is a small window. it's getting smaller. according to the international atomic energy agency over the last four months alone iran has doubled the amount of that it has moved into its underground fortified facility. it has increased the number of centrifuge, by 300. this program is racing ahead. and we don't have much time. america, a much bigger country, farther away, not being threatened by national annihilation. as president obama said, we have a right, we have a duty, as a sovereign nation, to defend ourselves. >> they deny all the things you're saying. that's their side of it. they do deny it. but when you talk about what you're going to do, do you have this feeling? talk about this frank conversation that happened. that israel is going to end up making a move on its own. and sooner rather than later.
i mean, that sort of sounds like what i'm reading between the lines of what you're saying. >> we're saying what president obama has said. he got up in front of a very large audience. 13,000 people last year at apec. and said israel has the right to defend itself against any middle eastern threat. only israel as a sovereign nation can best describe how to defend itself. and this is not just our right. it's our duty. >> and so i guess the real question though that people -- people really want to know, the obama administration needs to know, is when. do you have a feeling ambassador that the united states will not act unless the administration believes israel really will? as long as they believe you are playing chicken or will wait for the u.s., then they're not going to do anything? >> keep in mind no country has a greater stake in the world in
resolving the threat peacefully than israel. we have the greatest skin in the game. i have my children living back in israel. we'd like to resolve this peacefully if possible. we've been very supportive of the sanctions. we were supportive of diplomacy. unfortunately, the sanctions haven't worked. over period of the sanctions the iranian nuclear program has accelerated so rapidly that right now we feel they have close to five weapons worth of uranium that have already been stockpiled. diplomacy also hasn't worked. waiting for the iranians to make the slightest concession, nothing. >> when you say the sanctions are not working and you lay out your reason. you say they have five weapons worth of enriched uranium. that's the exact opposite of what the u.s. says. they say the sanctions are working. >> think the u.s. government -- i'm not a spokesman for the u.s. government but i think we basically say the same thing
that the sanctions have taken a bite out of the iranian economy. they certainly done a lot of harm to iran's currency. but they have not had an impact unfortunately on the iranian nuclear program. it's not just -- we're seeing this and the americans are seeing this and our intelligence agency but the international atomic energy agency of the u.n. is seeing that. >> -- that it's not affect the nuclear program? >> i think that it's safe to say they will also agree that the sanctions -- we're look at the same information. we're looking at the information the u.n. is looking at. has talked about the double of the number of centrifuges, they're talking about blatant flagra iranian attempts to deceive the international community about the military actions of their nuclear program. how they try to clean up military sites. the u.n. came out and called the iranian regime a liar. >> one final question. this week something happened that surprised everybody. you probably know what i'm going
to refer to. it's not about this topic. it's about jerusalem and the democratic platform. jerusalem is the capital of israel was removed. then it caused an incredible stir. now it's been added back in. but obviously somebody took it out. other people approved of it and voted for that, right. what is your feeling about what happened this week? >> all i will say is jerusalem will remain the united capital of israel >> i'm sure there were plenty of conversations that went on. the strike threat could keep more than 400,000 students out of the classroom. what do the teachers want? and the first citywide ban on bottled water. well somewhere along the way, emily went right on living. but you see, with the help of her raymond james financial advisor,
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our third story "outfront," battle with the unions. the city of chicago bracing for a strike. its intense negotiations to prevent nearly 30,000 unionized school teachers from walking off the job. a deadline looming. on monday for more than 400,000 kids. the third largest school district in america has not seen a strike in 30 years.
city officials who are already dealing with a murder rate that's up 30% this year are trying to keep kids off the street. cnn's ted rowlands is in chicago. let me ask you, as this gets down to the wire, what exactly is it the teachers say they want? >> well, there's a number of things they're after. first, money. they're after higher raise than is being offered now. the school board is offering a four-year deal, 2% per year in terms of a raise. in the fourth year, they want to be flexible enough to institute merit pay. that has not been agreed to by the teachers at this point. the teachers are also looking for some job security with their veteran teachers if there are school closures. or consolidations. they want those people protected. they want specifics as to chicago's new longer school days. they want it in writing when they'll have their lunches, when they'll have their prep times. those are the three main issues. they were negotiating all day.
they just wrapped up within the last half an hour. and we got a memo from the school board say things went rather well but we just heard from the union, they said it was a horrible day and they're very pessimistic. they both will be back at it tomorrow and through the weekend up till this deadline though that now is looming larger and larger. >> they reject the merit raises. they want more than 2% raise. they want to know their lunch hours. you spoke to a member of the teachers union. they thought things went terribly today. they're frustrated as well and also with the mayor? >> frustrated with the mayor because they believe he's thrown them under the bus. they're arguing this whole anti-union sentiment that has been bubbling up in the country over the past few months, years, going back to wisconsin, they say that's part of this negotiation in their estimation. take a listen to what he told me. >> it is playing a part. i think what's mt disconcerting is that you have democratic mayors all over the country leading the charge on attempting to destroy the public sector.
particularly, you know, public school teachers unions. >> and of course the democratic mayor here is rahm emanuel. he says he wants a fair deal for both sides and wants kids in school monday. >> ted, a final question, the 400,000 kids, these are kids of all ages. chicago has had a murder crisis. a lot of kids in september on the streets. what's the plan to make that be something? that can turn into violence. >> that is a huge problem. it could be very chaotic. if there's a strike. what the schooboard is doing, they're opening up some schools that will be open from 8:30 to 12:30. people can drop their kids off. there will be no learning going on. they will feed the kids. there are some faith-based organizations that are opening up churches. parents are very, very worried about what to expect coming monday. they're coming up with their plan b, some of them, though, just quite frankly have a plan b so they're crossing their fingers.
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welcome back. to the second half of "outfront". we start with stories we care about where we focus on our own reporting. from the front lines. pentagon officials telling cnn tonight they believe a navy s.e.a.l.'s story about the death of bin laden is wrong. cnn has leshd the four star general contacted some of the other s.e.a.l.s involved in the raid to ask about bin laden's final moments. in the book the s.e.a.l. involved in the rate wrote that bin laden was shot in the head after he peeked into a hallway. that account differs from what pentagon officials said. they version is the s.e.a.l.s entered a rue and found bin laden standing there and they shot him after believing he pose
a threat. the united states has designated the pakistan-based hakani with a terrorist designation. this label allows the obama administration to go after the network's assets. and prosecute those who aid or assist the haqqanis. the network is a very close relationship with al qaeda along with pakistan spy agency the isi. he also told us he's skeptical the new designation will slow down or prevent any future attacks. "outfront" has learned a victim of the sikh temple shooting in wisconsin is recovering. it's been more than a month since the shooting left seven dead. of the four people injured, punjab singh is the only one who remains in the hospital. his family said despite the heroic efforts of emergency responders at the scene, he has not fully recovered, but the
family since singh has been moved out of the intensive care unit. cnn learning tonight that congressman jackson has checked out of the mayo clinic. he was being treated for bipolar depression. we're told the democrat is back in washington with his family and when asked by cnn if representative jackson would be on capitol hill monday, his chief of staff told us, we hope. it has been 400 days since the u.s. lost its top credit rating. what are we doing to get it back? the white house said today it needs more time to deliver a report to congress. detailing how it will implement across the boards budget cuts also known as sequestration. those take effect at the beginning of the year. white house secretary jay carney says the report will be delivered late next week. now or fourth story "outfront." the fight for ohio. it's a crucial battleground state, but it has become ground zero of this election. so does the current electoral map add up to a wing for obama or romney? our john king owns the magic wall.
>> let me give you three reasons why that's even more true this year. one is history. 1960, that's the last time ohio got it wrong, voting for nixon over kennedy. in every presidential election since, including 2008 when then senator obama carried ohio, it has picked the winner in presidential politics. number two, especially important in the wake of today's job numbers, this is one battleground where the president can go in and try to make the case that people are better off. 8.6% when the president took office. 7.2% now. in some battlegrounds it's up. ohio, one of the big battlegrounds where it is down. the president says that's because of his work in the auto bailout industry. number three, if the president can hold ohio, no republican in modern times has won the white house without winning this state. we start here. the president at 237. governor romney at 191. if the president could put ohio in the blue column, that almost puts him on the doorstep.
governor romney would have to run the board. if a democrat wins ohio, almost certainly winning iowa, that would be a huge speed bump to romney being president. >> thanks to john king who makes the point as only john king can of how crucial ohio is. his new cover story out this week is about ohio. did barack obama save ohio? this is the crucial question. once you realize how important ohio is. this is a state where unemployment is now 7.2%. better than the country, and it's creating job, which is better than most states in the country. i know the question is who gets the credit. president obama or republican governor john kasich who has been in office since last year. obviously the key could determine the election. so let me start with this. in ohio, people seem split on this. 33% say the state's economy is improving. a quarter of them say it's getting worse. we showed it getting better.
what's your verdict? >> thanks, erin, for reading the piece. there's a disconnect. you have essentially two sets of data. you can look at the jobs numbers. 122,000 new jobs since the beginning 2011. you can look at all the shifts that are added. the factories expanding. and the news is really good. you look at the right track/wrong track numbers. are things getting better or worse in the state? and you can't get more than a third of ohioans to say things are going in the right direction. i began to understand the disconnect, which is you see all this activity, shifts being add, jobs. but in a lot of the state you're talking about high-tech manufacturing that doesn't have the kind of impact on communities that it once did. if you added a shift in a manufacturing plant or auto plant 25 years ago you were talking about thousands of jobs. today if you add a shift overnight, you're talking about
turning away thousands of applicants and hiring a couple hundred people because it doesn't take four guys to put in a windshield anymore. so those numbers do indicate i think good news on recovery in ohio and people do deserve credit but it's not as pervasive or as transformational as it looks like on paper. >> yeah, it's interesting, you reminded me, i was in one of those plants about a year ago, and it's -- so much of it was people overseeing the line, so much of it done by machines. it was amazing. >> i was in u.s. steel when i was working on this piece. you look over this vast expanse of rods. they were baking rods for extracting shale. there's not a single human being. i said to the plant manager, this is great, but where are the people? he said, we're a people company. we want to keep people out of harm's way as much as possible. which is a nice way of saying w don't have them here. >> maybe that guy should run for political office if that's how he answered the question. >> i think so. >> so during the convention, we
heard about the success of the automobile bailout. governor casey said, the state has lost 3,200 auto jobs since those guys got into washington. the bailout has nothing to do with the good news in ohio. when you balance everything you've seen from your reporting on the ground, what's your take? who's responsible for any good news, obama or kasich? >> it depends how you define an auto job. you could say, if a guy workings in an auto dealership, he's an autoworker, so, look, it's a little confusing. include the federal stimulus in this too. you have to imagine that ohio would be a very different and more ominous place today. were it not for those federal interventions. because the bottom would likely have fallen out. a lot more unemployment. a lot of people losing employment insurance, medicaid. you have to credit the federal government's responses with a
stabilizing effect. most of the people i talk to in ohio think kasich is doing the right things to keep business. but it's relatively early, you know, halfway through his term or so or less and governors, you know, can only effect to some extend the economic trajectory in their states which tend to follow a national course. >> bottom line, you write, romney's bumper sticker for ohio should be, trust me, you're still miserable. >> romney is often described in ohio -- either party really as the odd man out it he's the guy saying things are still bad. the republican governor and the democratic president both saying things are great. as said, as we start out talking about, you know, i came to have some sympathy or not sympathy but some understanding at least of why they want to go that route in the romney campaign and why they thinkt can be successful because you go to a lot of parts of the state, particularly in the industrial areas, and you'll find what the polls tell you, which is that people don't feel the reality of
that improvement in their lives. >> matt, thanks very much. everyone, of course, check out matt's great article, "new york times" magazine, it is going to be the cover. a rare virus related to rodents has claimed three lives and sickened five others. health officials issued a worldwide alert and say as many as 29,000 people may have been exposed. exposure to the incurable hanta virus occurred at the park where seven of the eight victims slept in those signature tent cabins. this was some time after june 10. the virus is carried in the droppings and urine of rodents and includes deer mice. you either inhale it or have direct contact. this doctor is an infectious disease expert. he's "outfront" tonight. this sounds frighting. anybody that could have come into the park could have been exposed to this. how would you know if you were -- if you were possibly at risk?
>> well, the main method of exposure to this virus is by inhaling contaminated droppings. usually from the urine or droppings of wild deer mooes. if you have been in cabins that have not been used for some time or not recently cleaned you are at risk at inhaling droppings and getting exposed to the virus. >> you wouldn't know that you inhaled this? >> it's thought that the virus is not that easily acquired. this is a very, very rare disease. typically the exposure is if you're in an inclosed space or potentially if you breathe the dust by vacuuming or brooming
the floor. >> one thing that amazed me is, at least from our understanding, tell me if i'm wrong, is it's not curable. what are the survival rates? if you were there at the -- how long could it take to germinate in your body? >> yes, this is a disease that has an incubation period of about 1 to 6 weeks. you can become symptomatic and actually develop the disease within 1 to 6 weeks. there is no specific treatment and there is no cure. howeve it has been shown that the earlier that you present and seek medical care, the better that you'll do. this is a very severe and deadly disease. it basically -- it has a 36% case fatality rate. meaning that if you get exposed to the virus and you develop the disease, you have a 36% chance of dying from the illness. so it's very, very important that if you are symptomatic and you've had the right, exposure that you seek medical care early. the earlier you get monitored,
the better you'll do. >> quickly, in a couple of worlds, the main symptoms would be what? >> this is a -- it begins with flu-like illness. it will be very nonspecific. then it will develop into more severe disease which is shortness of breath and a cough. and eventually develops into a full-blown pneumonia. but it begins just like a flu-like illness so it's important if you have recent exposure and you start to get flu-like symptoms that you see a physician immediately. >> thanks, dr. chu, appreciate your time. "outfront" next, restaurants taking a page out of the airline manual, different prices at different times. and the two different faces of one vladimir putin. every time a local business opens its doors, or makes another sale, or hires another employee, it's not just good for business.
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and $50 every single time after that. the town law, the town won approval in this by 39 votes after two previous rounds. they were, like, we're going to get this thing done. the environmentalists that champion the ban say it will reduce solid waste, and reduce the fuel that goes into producing those bottles. 600,000. 6,600. that's the number of volumes of fuel that the gulf stream holds. look at that thing. it's beautiful. why is this important? concord is one of the wealthiest communities in the united states. it was announced that a private airport just outside the town that the wealthy residents use plan to expand its hangar so they can house the larger gulf stream. so while the bottle ban might reduce the town's carbon footprint, it's still a long way to go because, you know, of the resident's private planes. one gulf stream 650 which seats eight passengers holds the same amount of fuel it takes to
produce 112,bottles of water. since the airport is outside of the town limits, passengers can bring bottled water on board. tonight's outer circle. we begin tonight in japan where the government says it's close to a deal to buy several small islands from a japanese family. china claims the same islands as theirs. the purchase would likely leave the islands' sovereignty in dispute. >> japan's prime minister tells me a deal is almost done to buy the disputed islands in the east china sea. the government is buying them from a japanese family that currently owns them and then they will nationalize them. this is a move that is certain to anger china. china also claims these islands and calls them diyoyo. the chinese foreign ministry said any unilateral move by japan would be considered, quote, illegal and invalid.
the prime minister did tell me here in japan he was hoping to discuss this issue with china and make sure that everything was clear so there was no disruption in future relations. but he also said it's very unlikely the two sides will find time to talk this weekend at th apec's summit in russia. canada where the government has suspended relations with iran. diplomats have five days to get out. paula newton's in ottawa. >> erin, they gave several reasons. one them opening with the statement that, look, iran, canada feels, now poses the greatest threat in the world today. in terms of peace and security. other than that, they claim that iran is now a terrorist state. that it is basically sponsoring troops like hezbollah. and they also pointed out that they fear for the safety of
their own diplomats in the country. having said that, though, this decision, erin, really has more to do with israel than with iran. many here feel in the last year canada becoming much more pro-israel than it has been in recent years. many feel this was under some pressure from israel that canada decided it was better to cut ties with iran. erin. now, our fifth story "outfront." a new trend in dining inspired by airplanes. you think, oh, no, dining, airplanes, food, they don't go together. it's an idea taking hold in cities across the country and generating tens of millions for the industry. but it could spell the end of dinner at 8:00 for all of us. it's as simple as supply and demand. >> the opportunity was obvious. >> it's an idea that's putting a whole new spin on eating out. >> just like in the airliner
hotel industry where the price might depend on the demand of that hotel room or airline seat. we introduce that same model to the restaurant industry. >> this is 26-year-old ben mccain, ceo of savored. built on a simple fact of life. time is money. like airlines, savored offers cheaper meals for off peak hours. a table at a 9:30 on a tuesday night at the famed 21 club in new york would cost customers 30% less than one for saturday at 8:00 p.m. now, considering the quality of the restaurant, where dinner for two easily costs more than $150, that's huge. >> for them it's really a unique value that is very compelling. >> on the flip side, are customers really okay with the idea of paying more for peak dinnertimes once they know they can get it for less? this director of operations says yes. >> the same thing is, you know, is why, you know, go to happy hour at 5:00 because it's early. they don't do happy hour at 9:00.
so there's a reason for that. >> with the amount of money this idea is bringing in so far, it's likely here to stay. >> we're generating over $40 million a year for our restaurants and that's -- we have 1,000 restaurants on the platform. we feel we're making a significant contributiono their businesses. >> something to try out. next, hillary clinton, she says russian president vladimir putin was dressed as a bird. is
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>> now a story we've been "outfront" for almost a year. the two faces of vladimir putin it first there's the one you've seen recently. russian leader who rules with iron fist. then there's this side. the fun-loving putin. into animals. looks great without a shirt. you never know which put be you're going to get. even at a technically serious event like the asia pacific economic council. listen to the exchange between the sultan of brunei and secretary of state hillary clinton. >> dressing up like a bird, in a hand glider --
>> really? >> yeah. does all sorts of things. >> yeah, he does do all sorts of things. vladimir putin did go flying with birds. the secretary of state is right. reportedly inspire by the movie "fly away home." putin used a motorized hand glider to fly beside a flock of siberian white cranes. putin guided the cranes to their migratory ground in central asia. you know, he went to a shooting range. he's played with the tiger. he's a judo star. he played hockey. he went diving for some ancient jugs. fished with his buddy silvio berlusconi. that was a pretty interesting one. there he is with the jugs. berlusconi. we don't kwh