tv Your Money CNN September 21, 2013 11:00am-11:31am PDT
week where a violent video game shattered a sales record. that's all next on "your money." fredericka? >> thanks so much, christine. coming up at 3:00 eastern time, we'll have all the latest on the breaking news of that shooting and hostage situation at a shopping mall in kenya. we just learned 30 people have been killed. we'll have the latest on that. and a former nfl player got a huge shock when he heard there was a big party taking place at his house when he was miles away. but what will really surprise you is the response from the partygoers' parents. i'm fredericka whitfield. "your money" starts right now. another mass shooting, another graphic tragic reminder of the costs of mental illness. i'm christine romans. this is "your money." yet again we're asking that question why. 12 people murdered when aaron alexis, a navy contractor with a history of mental illness, opened fire at a washington, d.c., naval installation. the latest in a string of mass shootings across this nation.
places now forever linked with gun violence. newtown, connecticut, aurora, colorado, tucson, arizona, virginia tech. but this is a story not just about guns. in virtually every one of those horrifying episodes, an underlying threat emerges, mental illness, gone untreated or undetected. let me be clear, the vast majority of mentally ill americans are unviolent. but is help too hard to ask for or too hard to find, it can lead to tragedy. even before this tragedy, president obama called for bringing this discussion out of the shadows. >> there should be no shame in discussing or seeking help for treatable illnesses that affect too many people that we love. we've got to get rid of that embarrassment. we've got to get rid of that stigma. too many american had struggle with mental health illnesses are still suffering in silence rather than seeking help. >> too many americans, one in five american, suffers some form of mental illness and fregs or
anxiety. 1 in 17 lives with a serious mental disorder, and there is a human cost and a financial one. $300 billion a year. that's the government's estimate for the direct and indirect costs associated with serious mental illness. the national alliance on mental health says the cost of untreated mental illness is more than $100 billion a year. yet cash-strapped states are cutting mental health spending. they're slashing more than $4 billion from 2009 to 12 -- 2012. during that time the use jumped 10%. we again find ourselves asking why. here's another question. is failing to better care for mentally ill americans putting us all at risk? cnn's legal analyst, you obviously have a lot of questions about aaron alexis. someone who had a history of mental illness but had most recently told some v.a. hospital, you know, workers no,
he wasn't going to hurt anybody. he just was having trouble with sleep. there were so many red flag at the core of each of these stories is memt illness. we talk about guns, better security, biometric passes to get into buildings. the core of each story is memts illness. >> yeah, i mean, the problem is he was not getting treatment, adequate treatment. he had never -- you know, was never put in an inpatient psychiatric unit for any length of time. there's never an attempt to really diagnose and treat him. and that led to his being, you know, released. there was many agencies from rhode island police to v.a. did not kmoukt. >> is this common? >> this is very -- >> someone with these sorts of -- this sort of mental illness is in the system? >> that is absolutely true because it's the police that become the mental health crisis counselors all across the united states. >> police are mental health crisis counselors? >> right.
they are not particularly well trained. and often, for example, new york, if you take them to an emergency room, the average new york policeman bringing a mentally ill person it an emergency room has to wait four hour before the emergency room psychiatrist will see them because they have it be medically cleared. >> so law enforcement and the legal system is how we handle the mentally ill in this country, is that fair to say? >> oh, absolutely. you know, the whole model has changed. if you go back to prior, say, to 1965, people who are mentally ill were many times confined against their will in these huge state mental institutions, dark, dreary, horrible places. and i think people felt and civil libertarians felt that the civil rights of the mentally ill were being violated, and they also felt that p would save a lot of money if these people were released. so all of these mental patients in the '60s, '70s were released, sent out on their own into
society, and they have wound up in the criminal justice system. they're wandering without institutional support, without family support, and the police take them it public emergency rooms and hope for a solution there. >> in this country, we believe in privacy. a public person can live their private life and move from here to there. that's fair. people don't want to be stigmatized. and i think we've left families to deal with this, family and police officers are the people trying to manage something that clearly in this case was unmanageable. >> that's absolutely true. and the problem is, which is not talked about, is families are most often the victims are a mentally ill person had they become violent and stop their medications. and sometimes the families reach out it the police, and sometimes they don't. >> do we need to change laws? what do we do? >> well, we need to add many more dollars to the mental health system, create crisis
teams, create residences, create more psychiatric inpatient beds and specialized psychiatric program that reach these people. >> what about the gun angle here? i mean, the other common denominator in all of these is someone with a mental illness get ago hold of a gun. but we already have laws on the books that if you have documented mental illness, you cannot buy a weapon. >> well, the first solution obviously is to make sure somebody who's mentally ill doesn't get a gun. >> but if you're not diagnosing the mental illness and there's no structure -- >> they're not getting into the system. and you know, interestingly, all of the shootings that you referred to in the opening tended to be people who have either institutional support, the washington shooter was connected to the navy. they should have picked up on him and sought medical treatment for him. the other shooters all had viable families. and they slipped through the cracks as well. and i think it just demonstrates how difficult and intractable this problem is. we don't -- we're individualistic in america. we don't like the cop looking at us saying there's something
wrong with you. we're going to take you to a hospital, have you locked up. there's a lawsuit that results from that because of our independent spirit in this country. and the second thing i think is -- and this is a big thing that's changed in america -- families. you know, if you lk at the census in the 1930s, families lived in the same building. you might have four or five cousin, uncles, aunts. they'd take care of the mentally ill people within a family structure. now we're mobile. everybody moves out. the kids go to another city and get a job. and when people get old and sick, there's nobody it take care of them anymore. so we need a new structure to replace that fold family structure that used to work. >> thanks so much for the discussion, paul and gerald. naess to see both of you. thank you so much. coming up, frappuccinos and firearm. starbucks now says those two thing don't mix. you'll hear from starbucks' ceo is and some angry gun owners. that's next. baron of the build-out. you need a permit... to be this awesome.
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on controversial issues, supporting same-sex marriage, banning smoking outside its stores, for example. now starbucks says come get your pumpkin spiced latte, but please leave your gun at home. cnn's. py harlow spoke exclusively with starbucks' ceo howard schultz. >> we're not an anti-gun company. we're in the a policymaker. >> reporter: the man behind the ubiquitous green siren is smack in the middle of a heated gun-control debate. >> we have been mischaracterized as either being pro or anti-gun. we're neither. >> reporter: 43 states have so-called open-carry laws, meaning you can visibly carry a licensed gun in public. many businesses like target, walmart and starbucks say when it comes it customers, if a firearm is allow we the state, it's allowed in their sister. but that has led to dub starbucks pro-gun. >> we've seen advocates on both sides of this debate use starbucks as a staging ground for their own motivations.
>> reporter: across the country, gun rights advocates have gathered at the coffee chain displaying firearms for what they call starbucks appreciation day, some posting photos on facebook. >> customers have felt significantly uncomfortable. children have felt uncomfortable. >> reporter: so in an open letter, schultz says guns are not welcome at starbucks and asked customers not to bring them. but he stopped short of a ban. >> we made that decision so that we would not put our people in the uncomfortable position of having to condition front a customer who's carrying a gun. >> reporter: ryan and bill both carry their guns this public but generally concealed. >> i intend to respect their wishes. i just won't be taking my business to starbucks. >> in a free society like america where we're supposed to honor equality, tolerance and each other's rights, here we have a company saying we don't want that right in our store. and i think that's unfortunate. >> reporter: the brady campaign and others have petitioned starbucks to ban guns.
last month a group of gnawtonew residents sent schultz this letter asking him to ban guns. >> i think it's a step in the right direction. we would have preferred an outright ban. but it sends a clear message that we need to have safe places for our kid. >> reporter: how do you make these decisions, howard, of what social issues starbucks should engage in? put your name in front of and starbucks name in front of it? >> there are times when i feel like america has lost its conscience. and i think the role and responsibility for companies is not only to make a profit but to serve their communities as pest we can. >> now, the pig question, will people actually leave their guns at home? remember, it's a request, not a ban. a lot of people on social mead ya are saying they'll be packing heat no matter what, saying no more starbucks for me, or a rule to be ignored. on the other side, people saying starbucks is not going far enough. one person tweeted "not good enough. i will not be a customer until they ban guns." as for schultz, he won't say if
he owns a gun or not, but he says this decision is about his company and his customers, not about him. up next, guns may not be welcome in starbucks, but in the gaming world, oh, boy, they are the instrument of destruction. they are hailed. "grand theft auto 5" shattered sales records inity debut this week. what it means for the video game business next. and later, does this look a little strange to you? mark zuckerberg traded in a hoodie for a suit this week when he visited capitol hill. we'll tell you where else he's causing a big stir next. my customers can shop around--
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well, the same week americans were heartbroken over the stalking and killing of 12 people at the navy yard, a video game celebrating stalking is and killing generated record-breaking sales this week. our zain asher has the detail on "grand theft auto 5," a real blockbuster, zain. >> yeah, absolutely.
3,000 stores were actually open at midnight to meet demand. this was the most expensive game ever to be made. it cost about $265 million. but they actually made back that amount several times over in one day. on tuesday, "grand theft auto" raked in about $800 million in sales. you know, this isn't just one of the biggest openings in the video game world, but also in the entire entertainment industry. i'm just going to show you some comparison. "world cup 2014" raked in $344 million in sales in just one day. "harry potter" the book raking in $170 million in just one day as well. and "harry potter" the movie, one of the biggest grossing of all time, $91 million. still one-tenth of what "grand theft auto 5" brought in on tuesday. there are a number of reasons why "grand theft auto" does particularly well. firstly, obviously it does have a cult following. it's been around about 16 year. secondly also because of pent-up demand. it doesn't really release video game that often. the last "grand theft auto" came
about five years ago. christine? >> so, i mean, the so graphic and i'm told addictive. there's even one scene you get to a certain level, and you can blow up a mark zuckerberg look-alike. it is not for the faint of heart. zain, thank you so much. nice to see you. have a great weekend. give me 60 seconds on the clock. "money time" right now. >> reporter: college enrollment falling. student debt soaring. the result, some private colleges are slashing tuition by as much as half in some cases. if that's not enough of a deal, wharton's elite mba program can be yours online for free. you won't get the degree, but you will save $200,000. of course, college isn't for everyone. harvard dropout bill gates heads the list for the 20th year in a row. mark zuckerberg makes an appearance in the top 20 thanks to facebook's rising stock. a new study finds more americans are ruling out retirement. naerly one in six workers plan to spend their golden years at
the office. the late fashion designer vee ani versace's mansion sold at auction for $41.5 million. it will become a hotel. versace was shot and killed on the doorstep in 1997. "the costa concordia" finally upright, requiring massive pulleys, cables and a 500-person crew. the total price tag, 800 millions it. and is a big endorsement deal enough to cheer up this grumpy cat? the internet sensation is now the spokescat for friskys. coming up, inside an energy revolution. fracking is fueling an oil and gas boom in this country, but not without controversy. >> there's nothing pretty about the art or science of fracking. it's loud, it's dirty, and if you look at the array of equipment, it's extremely complicated. >> richard quest takes us to
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the last time the average price of gas was under 3 buck a gallon, look at that. december 23rd, 2010. look, you have to go all the way back to january 2009 for something significantly lower. but that was because of a global recession. and nobody wants that, right? so why is gas so high? a few reasons. first, global instability. in surprise, the arab spring began back in december 2010. about the same tame this oil run started. syria concern more recently have kept oil prices high. the world wants more oil, right? and we're seeing rising demand for gas in places like china and india. we're not seeing new cheap supplies of fuel either. tapping into the world's untouched oil fields is expensive. tightening supply and demand fuel the rest of the story. they fuel investor interest, accelerating these moves. so is normal? by the gnaw year, prices could actually come down to as low as $3 a gallon in some areas and
maybe even lower elsewhere. now, when it comes to the price of oil, a lot depends on how the conflict in syria is resolved. there's been a global shift in recent years to america's advantage thanks to the growth of something called fracking. the costly. it is controversial. but fracking has had a very positive effect in the u.s. economy. richard quest is the host of "quest mean business." and he can tell us all about that. the something you hear all the time. saudi america, richard, because of fracking. >> will america become a net exporter of energy? well, here you have the ingredients of this miracle that has taken lace. first of all, you need the plaque gold now coming out of the dakotas, coming out of texas. vast amounts of natural gas and oil is coming. then you refine it, and you put it into gasoline. and finally, of course, the automobile. whether it be driving to school or on the motorways and highways
of the u.s., for manufacturing. natural gas and lower gas prices is what is driving this country's energy supply. as i found out during may trip to west texas. >> reporter: it's had thot. and the big sky of texas seems to go on forever as these oil and natural gas rigs keep pumping out the black gold, now fueling much of america's recovery. it's a huge industry, devoted to cracking the shale rock thousands of feet beneath the ground and freeing the precious fossil fuels inside. there's nothing pretty about the art or science of fracking. it's loud, it's dirty, and if you look at the array of equipment, it's extremely complicated. fracking has dramatically
increased energy production. american industry now has access to cheaper energy which drives-idrives drives-manufacturing costs lower. that, of course, push prfts up. fracking is not new. the first oil wells were fractured in 1952. what's different is that they can now drill horizontally as well as vertically, and better technology means more oil can be released. >> in texas, probably 65% of the manufacturing e ining jobs righe in this industry. and the numbers are 1.7 million jobs are related to this business right now. >> reporter: fracking continues it face criticism from environmentalists and others. some say dangerous chemicals can seep into the water table. a charge the industry denies. others say fracturing can cause minor earthquakes and tremor. and then there's the issue of water. up to 2 million gallon can be used fracturing one well.
it's a huge drain at a time of drought in texas. oil firm like feskin are now taking fracking water and recycling it for future use. america's oil barons have seen boom and bust before. now they believe the good times are here to stay. and there's a quiet satisfaction, too, because even though fracking remains highly controversial, they know that the new method is one of the reasons for america's economic recovery. >> and that economic recovery creating jobs, no question. auf got some of these economies growing gangbusters. but the environmentalists say at what cost? >> oh, and nothing in that report or nothing that we are talking about now should be taken to discuss the environmental argument. this is about fracking as an economic equation in the united states at the moment. and on that front, there is no argument. take midland, texas, where i
just reported from. the bea, the government authority, said it's the fastest growing metropolitan area in the country. growing at 14% last year. so fracking, fracturing, whatever you want to call it, it has created a gangbuster economy that shifts, interestingly, between natural gas and oil, depending on where the price is where the glut is and ultimate where the boom and bust is. >> it certainly is an amazing change in america's balance sheet, import and export of oil, isn't it? >> it's not just america. what -- because the ripple effect, canada now has to look at what's going to happen with its supply of oil and gas. they are now going on to be supplying the far east. it is a global geopolitical strategic shift, and it all happens under the permean base, the dakotas, and it all happened because technology made this stuff cheaper to get out of the
ground in greater quantities in the united states. >> light, sweet crude. nothing light other sweet about it. it's kind of sticky and gross, but thank you so much. richard quest, thank you so much. that's it for today. we'll be back here at 3:00 p.m. eastern. see you then. they are "the next list." >> this week you'll meet two innovators who understand the power of ideas. graham hill is an entrepreneur and designer who is leveraging the power of the internet to prove a point. that people can live happier lives with less. hill crafted the design of his