tv MONEY With Melissa Francis FOX Business February 8, 2013 5:00pm-6:00pm EST
>> let's go off the desk tone dallas. a surveillance camera caught a scary scene with a car driving into a toy store. as you can see, barely missed a woman shopping. it drove nearly 40 feet into the store. >> she was on the phone at the time. can you imagine the person on the other line. oh, come on, that didn't happen. >> an olderly driver and the passenger were okay. the store says it's a miracle when only three people were in the shop. a few years ago, a car crashed into that same store. >> no? you think they'd learn. number three, four members of the federal reserve set to give speeches. wall street hangs on the every word. from the kansas city president, george, and carls, and st. louis president and cleveland fed president, and esther george, the key one to watch. >> now the number two thing to watch, wednesday, we have the commerce department releasing
retail sales for january. sales are expected to rise a little bit. auto sales, a key driver in december's move higher. >> a little bit bit. number one thing to watch, initial jobless claims come out thursday, expected to drop by 6,000 from 360,000. claimed dropped by 5,000, less than expected, and the four week moving average fell by 15,000 since the start of the year. there's always revisions that come up. >> living room. -- all right. stay safe. i'm going to dry to drive hem. david, be safe. me liz is is next. melissa: here's what "money" tonight. it's the real estate story, america. housing coming barks, but is it? what are the biggest mistakes that people are making in the market? four industry heavy weights to weigh in. plus, caught red handed. a legal iranian weapons seized
in yemen revealing arms sales that could destabilize the region. is the u.s. doing enough to stop iran? chrissy-- governor christie approves legislation in new jersey. will it give the economic boost lawmakers claim? even when they say it's not, it's always about "money." ♪ melissa: start by taking the pulse of the real estate market on "money," and fox business reported on it all day long, and the good news, mortgage applications rose by 1.8% in january from december. that is the highest level in 18 months. how solid is the real estate recovery? with me is our all-star power pam. look at this. madison is the coldwell banker
from the hit show, "million dollar listing: l.a.," bruce ike maren, chairman of the continuing company, and dot tie, and jeff is chairman of douglas and development. welcome to all of you. bruce, starting with you. is real estate really back because we have been burned, baby. >> it is back in a very big weigh. the condo market in the major environments is on fire. melissa: really? dottie, do you agree with that? yeah, real estate is back, buy, buy, buy. i heard that before. tell me in a convincing way. >> no, it's back. in fact, new york a year and a half ago, but back across the country, and there's also a shortage of inventory. you have to buy it and buy it quick. melissa: that's a good sales pitch. madison, in l.a., things flying off the lot there, i was going to say "shelf," but there's not
the shelf. >> flying off the cove, yes. they are flying, and the market has taken off exciting, this year, so far, we had a big sale of $75 million in malibu with a foreign buyer. it's taking off to a good start. melissa: ridiculous. jeff, let me ask you, when i look at the lot of the markets that are on fire right now, it really concerns me because it looks like all the same problems that we saw last time around, for example, one of the markets you think is going to do the best is phoenix. i know zillow projectses prices in phoenix could be up 8.5% next year. that makes me nervous. >> the reality is that the phoenix market was in the midst of a boom when the recession arrivedded. as a result of that, it suffered most greatly. all the people involved in the industry of creating real estate, selling real estate, financing real estate lost jobs and growth stopped. now that the market corrected to the levels that existed prior to
the boom going back to 2,000, you can buy homes in the greater phoenix area and represent. area. melissa: what's changed? >> the prices bottomed. if you are buying at low prices, if you anticipate what the low mortgage rates, eventually, there's interest rates move up with the creation of the money the way it's going on. you will see appreciation in the form of interest driven inflation. i think contrary to what other people have been saying, buying housing now makes great sense. melissa: makes sense. bruce, one of the markets you pick as one of the best buys right now is san fransisco. that's another market that zillow says goes up 7.3% in 2013. i mean, that price appreciation in one year, i -- i mean, it sounds danger. why is it not dangerous? >> it's not a question of it being dangerous or in the being dangerous. the fact of the matter is san fransisco and new york are the two cities in the united states
of america that have the greatest barrier to entry. the demand for housing far exceeds the ability of the marketplace to produce that housing. the appreciation is really based upon the inbalance between supply and demand. melissa: uh-huh. new york as well, by zillow thinks it's up half a percent in new york, one of the worst places to buy. >> you can't believe zillow. you really have to -- [laughter] i mean, if you -- if you look at what people said about housing, they said that nobody would buy houses anymore, and it was over. melissa: do you think prices in new york are going up half a percent? >> prices in new york city, and when they take new york, new york state is in effect. new york city, we are back to the prices that we were at the boom. we're at 98% of the value of the homes before the boom. melissa: anything changed? >> financing, much harolder. melissa: you have to have more money? >> yes, and very, very good
credit. melissa: what changed? l.a. is an area, i have friends hurt out there, bought their home, collapsed, underwater. it's hard to believe zillow says l.a. is going up 7.3% in the next yearment i don't know. i mean, across the board or just really high end places, you know, the valley is in the dull drums. >> well, you know, i think the biggest change seen out here in los angeles locally speaking and speaks for the country as well that the attitude, more than anything, has really shifted. people think that buying real estate is now is a good investment. it's tangible. you can rent it out if you're in a pinch. prices declined it a point where people are in the ability to afford and purchase and get the loans are doing that, and investors entered the market again. they are driving the market and people are fighting for that little inventory that we have. melissa: what the biggest mistake and misconception someone has done, made, or say
in the past little bit? jeff, go ahead. >> as a developer, pick the spots intelligently. for instance, the recovery seen in new york, after we went down 20% in the recession, 11-and-12, retraced that, and exceeding that now. there's areas where the demographics of young people, whether it's in the chelsey area or williamsburg-brooklyn area, where people choose to live because the price point is more affordable, and all the sudden, the areas are booming. know the demographics, know who is buying in what areas. for instance, if you go to the suburbs in new york city or phoenix, the middle range homes have not recovered as have the commodity homes nor the luxury homes. you have to know your spots. >> bruce, what's the biggest mistake made in the past year? >> i think the biggest mistake people made is they followed the news, and the news led, and the news lags reality. melissa: the media?
>> it's not the media, but the fact of the matter is that three things are true. one, there's not much inventory. two, prices for rentals are at record highs, an, three, interest rates are at lows that they have never been before so the fact of the matter is if you qualify for credit, and, i mean, instead of being afraid of what zillow says or the schiller case says, be intelligent and thoughtful about it. this is probably as good an opportunity to buy because the markets have corrected themselves. melissa: yeah. >> if you're going to rent, you are going to pay a premium, and whenever -- when the news turns around and starts writing articles about -- melissa: it's too late at that point. what's the biggest mistake seen in the past little bit here? >> well, that's exactly it. they read the stuff. do your own home work, okay? look at your individual market. those who write reports, write reports, okay?
as i said, people that should have bought, didn't, and look at the interest rates, they are 3.5%. a year or two years from now, okay, they are going to be a lot higher. you know, you're going to have inflation, and so that's -- melissa: madison, what's the biggest mistake out there recently? >> 2011, that was the mistake if you didn't buy. melissa: i like that. before we go, i also read if you list on friday versus sunday, it means that you could end up selling the house for $5,000 more than average of 1%. we're talking about $5,000 on a half million dollar home. bruce, is that true? >> i have no idea. melissa: want that one? >> just sounds good. melissa: we'll throw that autothe window. >> no, i'll tell you -- i list the homes on friday because you actually have an 18% chance of somewhere, i read, i think the national association of realtors, they sell faster. people are home for the weekend,
and they are searching, and they see the new envine story, -- inventory, they come and search the house and buy faster and you sell it for more because there's no price adjustment. melissa: thank you. appreciate it. >> thanks. >> thank you. melissa: a money update on the squatter two took over a home in florida. the florida state attorney determined a trespassing charge could apply, and police say andre barbosa, the 23-year-old who lived there since december could face criminal charges. bank of america that opens the house is seeking $15,000 in damages. fox news is following the story, steve, give us the latest here. >> water front mansion, worth $2.5 million where a brazil nan national squatted with seven other people for the past two months. now, 1 p.m. yesterday, police
swarmed the scene here, looking for him, who calls himself loki boy on social media. didn't find him, but they found trash, which they pulled out. they have since changed the locks. the neighbors here extremely concerned about having a squatter in their tony naind. some hired their own private security. one woman offered to buy the house away from bank of america, the owner, just to get rid of the squatter. they say now that the situation appears to have been resolved. they are experiences some real relief. >> i think we'll sleep better. i feel like the neighborhood will be quieter, eventually, maybe not today, but maybe tomorrow. >> we're finally relieved we're going to go back to normal. >> as far as the squatter, himself, loki boy, it's not clear where he is. police are not looking for him, and, currently, there's no warrant out for his arrest. melissa: you talked to local officials because there's copy cat cases; right?
>> that's right. this is really an obscure law called adverse possession, and it was written in the 1800s in florida used for farmland initially to try to make sure the fields don't go fallow while they are not worked, but, instead, squatters try to use the old obscure law to justify getting into foreclosed houses and take possession of them if they hang on for seven years and pay the taxes. right now, because of it, officials are trying to get that law off the books. >> we don't need people who move in houses, who are con people. it's just a cop game. no one needs this in their neighborhood. we don't need it in the state of florida. >> so while loki boy is gone, he's left a string of copycats in the wake, and 11 in the past two weeks have filed these adverse possession rules to try to get in on some major
properties. one of the houses bigger than the one behind me, a $4 million ocean front mansion now occupied by squatters who say they have a legal right to be there. melissa? melissa: steve, wow, quite a story m thanks so much. now turning to today's market moment. the blizzard slamming the northeast led to a quiet day on the wall street. dow briefly crossed the 14,000 mark, all three majors posted modest gains. the dow, however, snapped a five-week winning streak. meanwhile, nasdaq and s&p 500 had sixth straight weekly gains. next on "money," the roof is blown off in a legal arms smuggling operation by iran, but it reveals a bigger plot to shake up the middle east. we have alarming details coming up. plus, blizzards are annoying, but this time it is personal. why this massive storm is making one very sad 5-year-old boy in florida. more "money" straight ahead. ♪
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sources tell fox news that the weapons were an attempt by the owing iranian regime to destabilize the middle east further, but at what cost? is the u.s. doing enough to stop them? judy miller, senior fellow at the manhattan institute and fox news contributor. welcome back to the show. i mean, this is a really alarming story; right? >> just part of the a pan tern by the iranians to destalize all of the government that have already been destabilized by the arab spring. now, in yemen, you have 25 million people, the poorest country in the middle east that's had a terrible time trying to get its act together, and along come the iranians with a shipment of very powerful, if old weapons, that are cheap on the black market, but 100,000 dollar missile shot from the shoulder, and it can actually take out a helicopter so you're -- a $10 million piece of equipment. melissa: in fact, the list here, antiaircraft missiles,
explosives, silenced automatic weapons, iranian made night vision goggles. i know -- >> right. melissa: yemen's president demanded iran stop sending the weapons, and the iranians said it was not us. >> exactly, not us, of course not. it just happened to be a ship that was loaded off the iranian shore. now, the crew was yemen, but everything else, the make of the equipment, the ammo, and we know the weapons were apparently destined to rebels, fellow shiites, a different kind, but that, the government is sunni, so there's a sunni-shia conflict, a civil war, a terrible time with that, there's separationists in the south, and the tribal shiites in the south, it could go shout quickly. that's what they are trying to do. melissa: is that what it's about?
supporting people who have the same philosophical, religious beliefs, but it's not about that. it's about distracting and make the region unstable? >> exactly. it's about power. the iranians want to be the dominant regional power in the middle east. they think they've always been it historically. they want to see a shia correction throughout the middle east. yemen is a perfect target, and that's why it's very interesting that these arms were intercepted with the help of the u.s. navy. melissa: it's upsets because it seems like unfortunately it would be low on the list of priorities. there's a lot of fires burning in this region right now. we have a lot of problems with iran. this wouldn't be near the top of the list, but it's something, i don't know, can we do anything about it? >> it's hard, for example, there's 200 islands that are part of yemen. think of all the possibilities for landing stuff. this is the one shipment we caught. how many others have there been that we have not caught? melissa: right. there's probably nothing that we can do?
>> it's very hard. we can help the yemen navy be proactive. i mean, it's a country that is very poor and can't ford the sophisticated tracking equipment that we can. this is the technological assistance we can provide. melissa: same thing, though, where we try to enter, you know, a conflict, there's a conflict going on with yemen, and iran chose a side. as we try to choose a side, you never know who you are dealing with, though. >> right. we know the government says they want to do the right thing by all of its people. it's trying to be more democratic and less corrupt, more effective, and i think the united states is backing it, and it's very hard bet because yemen is a very unstable country. melissa: at the same time, i read reports in the "new york times" for example saying things in iran are not as tough as we think it is, that sanctions are not having a huge impact, and the people are not as poor as it seems. do you believe the reports? >> i think the sanctions are
cutting the iranians, the big question for me that i really doubt, i do not think that the sanctions, however, severe, are going to lead the iranian leadership to change their mind about developing nuclear weapons p. i don't think they are going to change iranian mind about reestablishing themselves and their country and their brand of islam as the dominant brand of the middle east. melissa: what can we do about them obtaining nuclear weapons. seems like nothing except force. >> i think that, well, you know, those who said, "let's talk," must be concerned about the fact that the supreme leader, himself, has now shot down one-on-one talks with the iranians. we are back to six-party talks that went nowhere for ten years. i think that at some point if we don't act, the israelis may feel they have to, but, again, that's a very difficult proposition for the united states because that could drag us into conflict too. i don't see any signs that president obama is considering military action at this time.
melissa: judy, thanks so much for coming up. it is a toughish -- issue to untangle. the keystone pipeline in a news conference, and kerry says the state department may have an announcement on the project soon. approval pending for four and a half years. china's january crude oil imports soared 7.4% from a year ago. it hit its third highest daily rate on record indicating a strong pickup for china's economy. that sent crude futures in london soaring near 1.5% to settle at a nine month high. all right, up next, it is the worst blizzard in decades, and it is swallowing the northeast whole. also, it's leaving one 5-year-old in florida bummed out that a certain news anchor is up in arms as well. the story coming up. online gambling coming up, aces in new jersey as governor
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♪ right here in new york. snow is falling. my flight to tampa tomorrow morning to get my whole family and nef fee's 5th birthday party to my nephew's fifth birthday party is officially canceled. look at that. a birthday boy jack could not be reached for an official statement, but a spokesperson did release this picture of him charlie after hearing the news that we're not coming down for his birthday. look at that. he's crying.
poor thing. clearly he is not despondent. suspending service between amtrak and boston. bracing for what could be an historic blizzard. for the latest on this list send to fox news meteorologist. this is your fault. >> i have to say, i told you so yesterday. >> i know you did. it's your fault. you made this happen. missed two days of work. that would have been great. you would have saved that the boy is sad face. >> so many people happy birthday, by the way. melissa: is the birthday. anyway. were we hyping this? is it a big deal? >> it is. we have not had a nor'easter like this in a very long time. last year we had no real stuck to speak of anywhere in now we have a legitimate store, especially across doing but. a bit of a breaking line between new york and then in toward new england. take a look at the weather maps. there you go. we can show the storms that are happening. it is to storms, kind of coming
together which is what we have been saying will happen. a coastal storm, a typical nor'easter and kind of a reinforcing shot of energy coming off of the great lakes right now. in about another two to three hours those dollars will complete the merger and it will explode in intensity and strength. melissa: in boston that they told everybody to get off the road. are we getting a little crazy? >> have you been to boston in a snowstorm? melissa: i went to college in boston. yes, i have. >> i lived in boston for two years as well. streets are incredibly narrow. yet to fetus know if you try to power shovel, they're already narrow end is a really difficult time. first responders the dow for fires are those tens of things, they cannot get through. so is a very wise call. nothing is happening is, we have been seeing snow and rain here in new york city of a lot. people aren't thinking, well, maybe it is not that bad. a lot of accumulation. melissa: maybe my flights should not have been cancelled as we are all thinking.
>> that is what some are thinking. this is just getting going, the precursor to the storm. tonight from 8:00 p.m. on until around 8:00 a.m. for boston until 6:00 a.m. year it will be the bulk of the storm, incredibly strong, wind will be in new york over 40 miles-per-hour. boston around midnight tonight there will be gusting up to around 15 : 16. melissa: is that a good idea? >> let me tell you, have been up there. it is incredibly exhilarating. not a good idea endo recommended. melissa: the economic impact? people teeseven never know with these things because people panic and think a buy everything , stuff that would normally buy. getting every battery, every -- this seems like their is a boost >> with the middle buy anything for a couple of days after. a bit of the mix. when you look at airlines and all the travel, that is a problem. a lot of winter businesses.
the families who rely on snow removal stuff, snowmobiling, last year they had no winter. this year they have not had much of a winter yet and are getting it now. melissa: gas prices that we had because of sandy had to do with power outages. a lot of that due to the storm surge. will we see the same sort of power impact? have this does bring down power lines. >> it does. in the gas shortages also happen because the tanker where we get our gas is taken offline to us about expect to see anything like that. because of wind as strong as they are with very heavy west's know we will see people without power tomorrow morning which will take a while. it takes awhile to get going. people across the northeast have not learned, you have to a have a generator because it will be another one of those kinds of storms. melissa: i am blaming you. it's your fault. dammit. all right. here's our "money" question. how are you preparing for the storm? unsurprisingly people seem to be stocking up their bark.
you want to hear from more of you. like us on facebook. follow me on twitter. okay. hit me. chris christie finally gets behind online gambling in new jersey. only the third state to allow it. is it a good financial bet for the garden state? lawmaker behind it joins us. piles of -- in gambling coming up. ♪ this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank.
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♪ melissa: game on. new jersey governor chris christie betting big on online gambling after vetoing the idea twice. the governor of tnt in new jersey, about to be that thursday to allow it. a sure bet to generate millions in revenue for the state that could have backfired on tourism in atlantic city and people stay home and gamble from their living rooms. new jersey state assemblyman is a co-sponsor of the bill, and he joins me now. to you think it will get through and really happen? >> well, it is because the language said the governor sent back is conditional veto. it seems to be acceptable, and this is part of the law-making process. sometimes it works this way because this is the second go
around the we have had sending a governor bill. we are close commander think of a language he has sent back will be acceptable to the general assembly and the senate, as i sit here today on friday. by the way, it is not selling it -- spelling here. melissa: this seems like this is not necessarily the best thing for anybody who works in atlantic city because if you start gambling now aren't you will destroy to stay in their homes and gamble there? >> atlantic city over these last couple of years has really evolved to offer amenities past the party just games. the thinking here is that the extension of the ability tech reach a market that presently is not traveling. so the casino operators will tell you that they're mindful, some drop-off, what they see the ability to renew relationships with people that they have lost, people playing online that they can offer incentives to, things
of that nature, so it just fits in with the landscape because this is taking place illegally as we speak, including in new york and connecticut and the markets that your signal reaches. we're looking to capture what is happening illegal and tax it and make it an environment where consumer can be safer to play in the benefit of tax revenue. >> if you look at the revenue, talking about taxing at a rate of 15%, it could cover the revenue could be increased to $300 million of reading in the first year. the only thing about it, there is not a lot of positive social value. even though you are getting that tax revenue, do you think overall it is worth it? >> people made this same argument about broadcast television. started that. melissa: no, no.
that is not the same argument. i am saying that you are turning people into a degenerate gamblers and they're home as opposed to the doing something else. encouraging gambling in your home, there is not a positive social benefit to gambling in home. a lot of great tax revenue, but i don't know that that is necessarily the externalities' are great. >> raw umber, government cannot legislate morality. it is not a benefit that we -- a business that we manage well. people are engaging -- people are engaging in this activity illegally now. we would hope that those who choose to gamble, whether it be on line or visit one of our world-class casinos do so in a measured way but reduced know that people develop gambling problems. melissa: thank you for coming in the show. appreciate your time. >> my pleasure. melissa: coming up on "money,"
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♪ melissa: 16 year-old actress rachael fox is known far the hit series desperate housewives, but then she started a trading in between takes and share some of her tips and herblock, and she is joining us with some of her insider secrets. i love that. thank you for coming on the show >> thank you for having me. you know, my mom had her serious [indiscernible] just a genius. they both tend explained it to my sister and night. really important that we understand the stock market and unlisted how works. life and money management, thing that a lot of people are really
understand and that there really want to have a strong -- and explain it to us. no intention of retaking up major a liking to trading, but i ended up falling in love with the concept. >> out the huge trade? t have a broker, and e-trade account? have you actually execute? >> my online account, but i just go into law in every morning, do my trades, and that is out goes. melissa: to you by stuff that you like or do you do analysis at look at the ratio? >> honestly sometimes i will trade companies that don't even know what the companies do. i just go, that stock is extremely oversold. it's going to have a correction or vice versa. melissa: what makes you think it's oversold temecula to the movement and it has gone down? >> i will track the stock for a long time or keep tracking. france's i'm watching on tv
right now. $7 at the moment. that's higher than it has been. fifty-two couple of weeks ago. that is something. a sure sell. i might be feeling for a swelling trade. melissa: so what you're looking at right now? would you like right here? >> i'm looking at ebay, a short may be on fedex because i think fedex is in the 90's just a couple of weeks ago and now it is at 107 which is high. i'm looking at that. i'm also looking at a short run at three am. disney has a lot of great fundamentals and news surrounding it. also hitting a 52-3 kaj osama , so i feel like there could be a pullback. melissa: your gonna short disney? is near show on nbc? i work for disney before. the viejo is the company.amelyan
and out. melissa: on an annualized basis he made 64 percent on your bets over the last year which is impressive. your worst trade? hex my worst trade believe it or not was my first trade, the one that got me kick started into it. i took a stock tip which i have learned never ever to do. $2. go to $10. okay. i will buy into a. he says it's good. as to be good. i bought into it. the stock is now trading for a quarter of a penny. i learned my lesson to never take a stock tip. it was rough. melissa: price of gold while you are added. a little safety. those safety. you have to go safe. thank you for coming on. first, armageddon, no armageddon
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melissa: it is time for a little fun with "money." today we are joined by a dynamic duo. thank you for doing it on this now we friday. i don't know how you got here, but you are not going home. perfect. first up, the devil is in the details are in this case, the w-2 form. a man from tennessee quit his job as a maintenance worker after his w-2 form was stamped with the number 666 -- that is the mark of the devil. according to him he was assigned this number as a log and 21st are another job but was changed at his request. boy, he is sensitive. it showed up on his w-2. a spokesman said they would send him a new w-2 form and what to rehire him. i think he is aloof sensitive. what do you think? which i read this story and said -- i am a pr man. if anyone as -- is getting a bad image, it is the antichrist.
the devil gets worse publicity than check hegel. it is incredible. my own view on this thing, the up to cut him some slack. a very religious man. it's disastrous. they ought to cut him some slack or it is a great way to get rid of a better employee that you know. melissa: what do you think? maybe they are doing it on purpose. >> if they are doing it on purpose they can expect to be served with a complaint. the law says that employers should take reasonable steps, make reasonable accommodations to tolerate someone's religious beliefs. this is not unreasonable request and is part. they can simply change the form. melissa: they did change the form and then it just popped up again on his w-2 and he is like, that's it. i'm out of here. i don't know. it seems like maybe come out a little bit. 150-foot asteroid could hit the earth next week. okay. we are kidding. an asteroid of that size will
pass by the earth's atmosphere making in a little too close for comfort passing 17,000 miles above earth next friday traveling in 17,400 miles-per-hour, said to be the closest recorded approach of an object of this size, but experts are saying that no worth impact as possible. i don't know. i'm still scared. what do you think? >> first of all, and quick, so i could dodge an asteroid. melissa: at giant asteroid? >> what bothers me, you look at the statement. the director of nasa's earth orbit program said, while a strike by the asteroid would do a lot of regional damaged, it would not be catastrophic. no offense, but if i'm in the region the genetic hits it would be payable melissa: the have a bunker? you finding a place to go hide? >> ee this is the end of civilization as we know it. however, like the story because it reminds me that we should be living a little bit more
adventurous lee. we should be taking more chances in life, living like we don't know what could happen. >> i say you live between a blonde and a brunette. that's my life. [laughter] melissa: i think it puts the storm in perspective. we have all seen it coming. blown to smithereens and will never know the difference. no offense. next up canal in answer to horrible migraines as long as you're okay looking like someone straight out of star trek. this advance as electronic impulses to the nerves that control sensation in and around the i. it cost about $400. i get migraines. i tried. actually, i don't know. i kind of like it. they want me to say that i don't like that to about and thinking of ordering one out. i like that. >> men could find that very attractive. you look beautiful. melissa: something very princess leah about it. >> more star wars and star trek. >> i ssid before i saw that
picture they ought to get leonard nimoy as a spokesman from dr. spock. once i saw you, that's it. melissa: i was supposed to be horrified by that mockup, but alas and digging in. justin timber like as another title to add to his rise in may, creative director about like platinum. he will provide creative musical and cultural creation for the brand. what in the world is calls for creation? has anyone turk -- heard that term? >> an excuse to create money. melissa: there you go. featuring his new single, suit and tie. so they are paying him -- white is the new title? they're paying him to do a commercial. what is up with the new creative cultural attache? >> i don't know. i'm not involved in his contract initiations, but i suspect that it has to do with setting a precedent. everyone is going to say i want to make more than justin to umbilical the next person.
you give somebody a different title and you don't have to compare salaries. i think he's getting paid money. >> so this kid, when you consider where he came from, he started out as the boy torre for britney spears. he was one of america's sexiest men, cosmo and people. i was on the same last. but this kid is an entertainment entrepreneur. really very admirable. melissa: if you hugs him for too long it's going to a say you're squeezing me too tight. you decide to ask him upside down he will ask you turn them upright. i don't know how i feel about this thing. >> i would say at alamo had a problem. the real alamo, the puppeteer. melissa: i was open your not going to bring that up. >> the need to reposition alma, reintroduce it.