tv The Willis Report FOX Business December 3, 2014 5:00pm-6:01pm EST
we're watching them again because this could really cause a lot of problems to managers of money. there for underlying investors. liz: let's not bury the lead. we have records on dow and s&p you got to witness it here. david: "the willis report" is next. >> hello, everyone, i'm gerri willis. we begin tonight with new outrage over those deadly exploding airbags linked to five deaths and dozens of injuries. the japanese manufacture you are takata is refusing to initiate a nationwide recall, putting onus on automakers. instead takata simply had this response when one of its officials was grilled on capitol hill today. >> we are deeply sorry about each case where takata's airbag had not performed as designed. gerri: republican congressman lee terry of nebraska is the subcommittee chairman who led today's hearing. congressman, before i get to
your questions, i just want to invite our viewers tonight, if you have a question for the congressman, you want to know about these airbags, whether congress is holding takata's feet to the fire on this, send me a tweet @gerriwillisfbn. we'll ask that question. congressman, to you, were you satisfied with the responses you got today. >> oh, absolutely not. this is one of those times where both republicans and democrats on the committee were unified in our frustration with at that caughtta. they came in saying, we aren't going to do a national recall. we've done everything we think we should do. even though, they further testified that they still don't know what the root cause is. that was very frustrating. >> i want people to hear directly from takata themselves. here is what their vice president of quality control had to say on the topic of recalls. listen to this. >> we are confident that the inflators we are producing today
are safe. takata continues to believe that the public safety is best served if the area of high absolute humidity remains a priority. >> congressman, do you agree? is it all about high humidity areas? >> well there seems to be a connection to high humidity area but they haven't actually scientifically proved that to a point where we can rely on it. and the other part is there were two other wrecks, one in california, one in north carolina, gerri, that is not in this high humid area. obviously it is not just humidity. there is something else going on here. they need to get to the root cause that have not been able to get to before i will feel my republican and democratic colleagues on the committee aren't comfortable until that decision, scientifically done. gerri: let me give you another case of a low humiditity. charlene waver, has a wreck in
her 2004 subaru impreza. she died. they find out later this was airbag issue. i don't know about you but i have never seen humidity in arizona. >> no. not in santa clara, california, and in northern, north carolina. and you bring up another issue though, gerri, and that's, that accident occurred back in 2003, 2004. and that's when takata did some testing themselves and then they said well, we fixed it because we fixed the manufacturing process and it was only later they started to talk about humidity. in fact has just been in the last few years. so they knew all the way back in 2003, 2004, there was a problem with the airbags. >> well, congressman, you make a very good point of the original testing on this 2003, the company was aware there were problems. they ignored them. now honda as we reported is
doing a nationwide recall. chrysler is recalling trucks in about five states now. we've got broader recalls but congressman, i have to tell you, nhtsa is the agency, the federal agency that is supposed to have consumers backs. they're supposed to be on our side. today they said, this was their quote, they're disappointed. that's all they have for us? people are dying, five people are died, they have done nothing. more people could die while they sit on their butts in washington and all we get is takata is disappointed? >> well, nhtsa is under fire for a couple of reasons. they have been very slow to react to either the gm and now the takata. and frankly, we've got a gao study on why, particularly with the airbags here, they knew for 10 years that there was a problem. honda wasn't reporting. yet nhtsa didn't know that honda
wasn't reporting. there is a justice investigation into that now. but, yeah, we have to hold nhtsa's feet to the fire too. make sure they're doing their job. gerri: question for you, looking at this, why is nhtsa always the last to know? my goodness, we had cops on the beat reporting problems with airbags. still nhtsa had no idea what was going on. >> same thing occurred with the ignition locks for g. >> right. they have got new leadership there. hopefully they can get their act together too. they are the watchdog for the public, to make sure that those vehicles are safe. gerri: got a long way to go. congressman, thank you so much for coming on the show. >> thank you. >> well, if you remember we told this story earlier. back in may a father of two was blinded in one eye when a piece of metal shot out of his takata airbag in his 2001 honda civic. he was traveling at
15 miles per hour. cory burdick is the man. he doesn't remember receiving a recall notice from honda or takata. his attorney is here with the latest on the case and his reaction to today's hearing. welcome back to the show. remind us details of cory's case? he is a father of two. where was he going that morning? >> yeah. cory, was on his way to work. it was early. he just left his house. two young children and his wife saw him off. he was going through an intersection. this car stalled for a second. and he was in a fender bender. he should have walked away. unfortunately as you know, see from pictures, 3 1/2 piece of metal came, embedded in his eye. he lost his eye. he is disfigured. it has been really hard. he drives a fork lift for a living. it caused problems with depth perception for him. really been hard for him and his family. gerri: can he work? >> he can. fortunately he is with a small company that really likes him.
maybe he shouldn't be working. this is his way of making a living. this company's workforce is very good to him so he does have a job today thankfully. gerri: are you heard from takata or honda? are they getting back to you? are they saying anything to you? >> we're in the process of serving them. the problem with a japanese company, takata, honda, to get them into a lawsuit, you have to go through international treaty into hague convention. you have to translate the lawsuit into japanese. this is a thick lawsuit. you have to go through central authority. it usually takes six months just to get them in the lawsuit. that's what we're going through right now unfortunately. >> think it is hard for you. nhtsa can't even get anywhere with them. i know you were listen together hearing today. it's shocking to me, shocking to me. we could have a national recall tonight. why aren't we having a national recall tonight? what is wrong with the situation that nhtsa can't get in there and tell takata what they have got to do? they have bum products in this country that are killing people.
>> you know, it is spot on. first kudos to the congressman and for bipartisan support on this it was after the firestone recall 14 years ago that under republican leadership, we had the tread act, which is most comprehensive and important piece of legislation affecting consumers with respect to unsafe auto accidents and defects and unfortunately in the wake of the tread act there is this early warning notice requirement that hasn't really had a system that nhtsa has enacted to make sure when there is a problem like general motors or like with takata or like with ford-firestone it is reported. there is an audit and follow-up by nshta. really at the end of the day as the congressman said you have to really kind of look at nhtsa and need for leadership from them to fix what is a broken system. gerri: we talk to former nhtsa folks. they tell us bureaucrats, administrators are too darn close to the industry. they work hand-in-glove.
>> oh, boy, sure. gerri: you have information i understand about something nhtsa might be doing to help people? >> well, actually it was, this was something that again the bipartisan committee with senator thune and senator nelson had two weeks ago that you may remember, when he, the senators asked honda, what about providing rental cars? will you give folks rental cars if their car is affected by recall. honda said for first time yes we will. well, we learned you have to go as consumer, if your car is part of the recall, go to the dealership and ask for it. they will not tell you. so you have to ask, be persistent. if your car is part of the recall ask for it. exactly. gerri: got to tell you. we have a long way to go on this one. thanks for coming on the show. >> we do. thanks so much for having us. gerri: i know what you're wondering right now. you're thinking is my car one of these cars? well to find out go to gerriwillis.com. we've got the entire list there. what you do when you go to the website, close the email page that pops up. click on the link, is your car
on the list? if you own one of the vehicles on takata recall list and received a recall notice you have to have that car serviced immediately. do not wait. if your car is involved in the recall, honda, toyota, bmw will provide loan erstwhile you wait for repairs. if you're not on the list, ask for the loaner anyway. chrysler says it will consider loaners on case-by-case basis, it is up to you to demand help. in any case don't remove or disable your airbag. we have more to come this hour including your voice. your voice is important to us. during the show we want to you facebook me or tweet me @gerriwillisfbn. send me an email. go to gerriwillis.com. at bottom of the hour i will read your tweets and comments. covering the story too, should employers accommodate pregnant workers similar to those on disability. the highest court in the land is about to weigh in. details coming after the break. ♪ music
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because of doctors orders because she was pregnant was not able to lift more than 20 pounds. she had a company request to light duty which left her at home with no wages or benefits. does she have a case? we have a business law attorney. seth, welcome back. does she have a case in your view? >> i believe she has a case. i think she actually has a very good case. the issue presented in this case, which will have a huge impact on companies and employees throughout the united states is extent to which the company has a license to be able to use a facially neutral policy in a way that discriminates against pregnant employees. there is no dispute in this case that ms. young was treated differently because of her pregnancy. it will be verying to see what will happen. it will have a huge impact in the employment realm. gerri: can you put a pregnant woman, out basically with no salary? is that legal? >> well, the general answer to that is no. as applied in this case, that was one of the questions that
justice kagan was really drilling ups counsel today. a lot of the hearing this morning was justice kagan sparring with company counsel, asking a question that essentially drills down just to that. one of the interesting things in this case is there is really no dispute that the company treated ms. young differently because of her pregnancy. also as the discussions evolved we saw facts where male employees were allowed to basically have an open door policy where people had out of office incidents that involved duis, sprained ankles, playing softball. they could go in but slammed the door on her because of her pregnancy. gerri: seth, isn't this common sense that a company shouldn't do this? i mean, do we have to have the entire legal world rethought for a case like this when if you just come in with common sense to say, oh, she is pregnant, let's give her light duty? unless she is some kind of a bad apple which i haven't seen evidence of. >> that is exactly right.
you really hit the nail on the head that is very common sense dimension to these cases. there is a loud, clear, message here to companies throughout the united states, employers and employees, don't hide behind policies to apply them generically. apply them specifically. there was no way for the company to treat her this way. the evidence demonstrated that she rarely lifted things over 20 pounds. the doctored asked accommodation. she rarely lifted over 20-pound but the company stood by generically. there is reputational harm, i believe in the close vote the supreme court is probably leaning in her favor. gerri: they will not have a decision until june is what i'm reading. >> that's right. gerri: at the end of the day it seems to me that the obama administration is trying to make an end-run yet again around congress to make some kind of a legal statement. this time about pregnant women being protected class. it is a disability for goodness
sakes, which seems incredibly silly to me. >> right. gerri: aren't they just trying to get what they want without having to go through congress? >> we, yes and that is one of a number of instances which raises a very fascinating directly-related issue how the executive branch and white house specifically is trying to legislate, rather than implement the law. but the thing that is really interesting about this case is that the pregnancy discrimination act is really right on point. once you apply that, you see ms. young has a pretty strong case and it really sends a clear message. so at the end of the day the company should not have slammed the door shut. it should have opened it. she also as you pointed out has an employee record that was exemplary. all she wanted was light duty on temporary assignment. when a company doesn't do that, it is making a decision generic rather than specific. it was not helping itself or its loyal employee. gerri: so much time, so much
attorney fees. ridiculous. seth, thanks for coming on. >> you bet. gerri: we want to know what you think. here is our question tonight, should pregnancy be considered a disability? log on to gerriwillis.com. vote on the right-hand side of the screen. i will share results at end of tonight's show. we have good news, thanks goodness. oklahoma gas station has gas under two bucks a gallon, under two bucks a gallon. this station lowered its price from 12 cents from 2.11 to $1.99 a gallon. first time the gas has been cheap in four years. gas buddy says people in texas, south carolina and missouri will see the same thing real soon. i sure hope so. new warnings about a robot takeover, no kidding. school officials raced through taxpayer money to put tablets and ipads in kids's hands. tablets are missing. there is a fbi investigation.
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gerri: as with some government projects sounded like a good idea at the time. give millions of u.s. high schoolkids ipads and computers to help them do better in class. but the only lesson learned here, bureaucrats screwed the whole thing up of the just this week we learned of new york city losing complete track of thousands of computers and in the los angeles, there is now a criminal investigation involving over a million dollars. with more on this, caleb bonham, editor-in-chief of campus reform. welcome back to the show. start with the l.a. story. outrageous, give us the fact.
>> yes, the fbi has not come out explicitly claimed who they are investigating or what they're investigating. but they came out with over 20 boxes from the los angeles school district of files and most people are assuming that they're investigating improper bidding from the from the school district with apple and pierson. gerri: let me interrupt you there. i think the issue is no bidding. i think issue they went out and contracted with somebody. that is one of the problems. let's also describe this case in new york. this is amazing. 1800 laptops can not be located. 400 of the devices were never unpacked. big investigation here in new york city much very similar kind of situation. what do you make of that? >> there seems to be similar facts about these states, yeah. how offensive is that to the taxpayer? all the articles come out about this case show people that that community are
absolutely offended their tax dollars are going towards computers that go missing, 1800. or they're not even opened. kind of a small business could you ever imagine, would buy all of this material, let it just float off or not open it at all? it shows how government bureaucrats treat the taxpayer dollar. at the leadership institute of campus reform we report on all the time you give a bureaucrat a dollar, they will spent two. and parents are outraged how they're treating their money. gerri: one of the funny facts from the l.a. case, i realize it is outrageous, but the kids took the ipads and basically disabled all security elements and playing games and watching tv shows, not using them in the way intended. is that any surprise at all? >> no, that is not a surprise. you would expect kids, you will put up a fence they will try to crawl over it especially when it comes to ipads. here is the bigger concern here. is that the los angeles school district has a graduation rate of 68%. that is 12% lower than the
national average. these kid deserve more than being sat down, tossed an ipad, said learn. and it is a real problem. and it is tied to the common core technology program. which is, even bigger issue to kind of jump into. gerri: we won't tonight but we have many times with you talked about common core. look, is there any research that ipads help kids learn? >> no, there is not. california implemented $1.3 billion program to bring this to light. what we've seen is how bureaucrats manage money. there was a investigation that was opened up earlier this summer in regard to the same school district that the schools inspector general came in and they conducted an audit of the school district. they found over $2 million in ipads unaccounted for. now, and the audit found also that there is no effective system to track who had a computer or who was responsible for it at certain schools.
when that is how you implement programs that are, many times federally funded, completely uncalled for. you're going to have an investigation that follows, if you're not even tracking who you are giving i pads to. gerri: well, caleb, look, i have to tell you, if it is ipads that help our kids learn and i'm all for it. bureaucrats can't be stealing them or misusing them or losing them. that's a tragedy. caleb, thank you. >> thank you for having me. gerri: time now for a look at stories you're clicking on tonight on foxbusiness.com. this year's cyber monday shattered records. according to comscore cyber monday sales passed $2 billion, making it the biggest online shopping day ever. the first to surpass 2 billion in sales. according to payroll processor, adp, the private sector added 2 billion jobs in september. this fell short of expectations. this friday they will release the november jobs report. unemployment rate expected to hold at 5.8%.
energy stocks giving market a boost for second day in a row. the dow and s&p 500 ended day at record highs. kraft food is announcing raising prices on single serve coffees for the very first time. hiking prices of maxwell house and yubank pack portions 9% by december 28th. those are the stories on foxbusiness.com. government regulations stopping you from landing that new job? according to ceos today, the answer is yes. new survey, says americans are scoring f on retirement know how. how to ace your retirement and make your money last. ♪
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on tax reform. the biggest hurtle facing investment and job growth these ceos say uncertain tax policy and mountains of government red tape. dan, welcome back to the show. one of the interesting things out of this, of course, is that the ceos really dialed back their expectations of how fast the economy will grow. what did they say? >> well, they're basically expecting that we're going to continue the sort of anemic two, two and a half percent growth we've been experiencing the last years. if we were french or italian, that would be great news. hey, we're growing faster than usual. but america has had three and three and a half percent growth. the 2 percent growth we have during the obama years, it's sort of getting a running back who is used to running 1200 yards a year. now he's running 750. better than 250. but we're underperforming as an economy. the business leaders are
right. all this uncertainty -- the hidden tax regulations, it's also a very uncertain tax because you have capricious and arbitrary -- liz: you're packing in a lot there. let me slow you down for a second. you make a good point about that 2.4 percent growth of growth. anemic. we need more. no doubt go. you have to have better growth than that if you want full employment. what's interesting about that, these are the people with with their feet on the pedal. as you say, they're saying tax policy, red tape. government regulation is keeping them from doing that. and here's what i hear, dan, and you tell me what you think, the white house, the administration, barack obama, is basically holding down the growth of this country with his policies. do you agree? >> well, i don't think they're doing it deliberately. as a matter of fact, every time they do some crony capitalism like the export/import bank.
they're probably thinking they're being pro business. the best way to let a market economy to prosper is by easing the overall intervention of government. that's against their ideological impulses. i don't think it's malice at all. i just think they don't grasp how the private sector works. liz: i couldn't agree with you more on that. what kind of growth should we be getting? what should business leaders be leading us towards? >> well, business leaders are simply responding to incentives. it's not like they're deliberately keeping their foot off the gas pedal. you won't hire new workers and boost our weak labor participation rate if the government fiscal system and regulatory system is making it unprofitable to make those decisions. and as we move closer and closer to being like europe in terms of government involvement, we'll get these stagnant european type growth numbers. but i don't blame the companies. i blame the politicians
that are giving us those policies. liz: it's the policies. the tax policies. the government regulation. the unending overarching red tape that everyone has to deal with. i have to tell you, we've got a huge economy. you know, we have 310 million people in our country. 18 trillion-dollar economy. we should be able to do better for people. no doubt about this. the more i see out of this administration, the more i think, just not going to happen. we have another two years of this, dan. people have to cope with low employment and lowered projections. friday, the big jobs number. what are you expecting there? >> i assume the unemployment rate is not going to look bad, but that's because we have a much bigger problem hidden behind that, which is the labor work participation number. if our unemployment rate is low because people have dropped out of the work force, that's not a good sign. i don't want to be
pessimistic. we've had good news in our economy. we've done a decent job of controlling government spending ever since 2010. but we can do so much better, i guess, is the frustration. liz: yeah. absolutely the frustration. take the limits off, that's what i hear, dan. thanks for coming on. >> thank you. liz: well, americans heading into retirement are getting a failing grade. failing on their retirement knowledge. 20 percent can pass a basic quiz on how to make their nest egg last. can you blame them. david, welcome back to the show. great to have you here. >> good to see you. liz: these numbers. 80 percent failing a retirement literacy test. are you surprised by this. >> i'm not. we have basically in this country a financial literacy problem. what crushed me. these were baby boomers. these were people over the age of 55 and 70.
the ones that need to be the smartest about money. if you're going to work your entire life to build a retirement account, if you don't understand retirement planning, you could fail. and that's what makes me scared when i read this report. liz: two in ten answered questions on social security, life expectancy, iras, how bonds work. we talk about this all the time. what needs to be done. >> oh, yeah. it starts with mandatory education in schools. it starts with getting education now for baby boomers. this report recommended people read books and take classes on basic retirement planning. the place you start, however, is with the retirement plan. there was a very interesting statistic in this report. 63 percent of baby boomers who had over 100,000 dollars have a financial planner. that was the good part of the report. the bad part, of those people only one in four had a financial plan. so what that tells me is
a lot of baby boomers think they have a financial planner. what they really have is a glorified salesperson because it's not possible to have a retirement plan without the plan. so where people should start is they should get the financial plan. they should run their numbers because it's about the math when it comes retirement planning. liz: you make a good point. you really do. but i have to tell you, david, i wasn't surprised by this. and i'll tell you why: you know, you look at what's happened over the past two years. 2008 people lost half of their retirement account. is there any wonder they're so disconnected to their finances? is anybody surprised? people need to feel there's an even playing field. that they won't get policed or hoodwinked. that the market will be safe for them. we recently had a poll. harris poll. 56 percent of americans have lost faith in financial institutions. that's a big issue.
it's not that people are stupid. i don't believe that. they're disconnected. and they don't want to be part of the conversation. i don't know how to solve that, frankly. do you? >> we solve it by continuing to talk about the importance of this. again, americans aren't stupid. financial education is not difficult. go meet way financial planner. look for a fiduciary. one of the first things you should educate yourself on -- if you're going to have a financial planner, you want a fiduciary, that's someone who has to put your interests first. no conflict of interest, no commissions. fee-based financial planner. if you have that plan, meet with that financial planner at least once a year. review the plan. since 2009, we've had a very strong market. we're having a phenomenal year. the market is at an all-time high. for baby boomers, this is really the ideal time to be checking back in. don't have your sand back in the sand. lots of smart people
learning new things. not too late. the key is to start now. liz: the diy world. now, we want to hear from you. here's what you're tweeting me. should pregnancy be considered a disability? john tweets: if pregnancy is a disability. what would be unable to get pregnant be? if a lawyer has to explain how a function is deemed a disability, we're deemed. edward posting: i would say that pregnancy is not a disability. however, it races a good question. how should a company accommodate a pregnant employee? it's her job to do x. i do think some kind of accommodation should be made. liz: this is already covered in the law. we should follow the laws already on the books. in addition to following me on twitter and facebook, be sure to like fox business on facebook.
and here's some of your emails about our coverage on the defective takata air bags. james: the air bag on my dodge ram 1500 cannot be replaced until i get a recall letter from damage according to to my service manager. i told him, i hope the letter will be in time. ouch. and key key: thank you so much for the details on-air bags. takes a few minutes to know that my nissan is not on the list. peace of mind is priceless. michael: thanks for the info my car is on the list. keep fighting the fight for the middle class. that's what we do every night. consumers are our business and we're looking out for you. we love hearing from you. send me an email. gerriwillis.com. how diabetes could speed up your mental decline. the shocking details on the new study you need to hear. here's your consumer gauge with the numbers that matter the most to you. we'll be right back.
gerri: if you want to prevent diminish, you'ldementia, you'lle healthy middle-age. middle-age diabetes patience may have an increase for cognitive decline later in their lives. dr. robert. welcome back to the show. this story amazes me. tell me about some of the findings in this study. >> the findings are quite remarkable. it started in 1987. so we have about 26 years worth of data. the patients were followed over that period of time for cognitive decline. and they were psychometrically tested. gerri: keep it in english. >> they were tested on paper ten years, 20 years, so on. it ended in 2013. and it was found that
about 20 percent of the patients who had diabetes had advanced or were more inclined to be cognitively disabled, which means dementia. gerri: so the moral of the story: if you have diabetes, you have to be super careful and follow the rules. right? >> that's right. gerri: i want to give an example out of this study. a 70-year-old subject who had diabetes at mid-life had the cognitive functioning of a 75-year-old. poorly controlled diabetes. 19 percent more decline. so you really have to take care of yourself and follow the rules if you're in this age category. right? >> that's right. and the scary thing is that type two diabetes, which involves about 92 percent of the population. adult onset. type two. tens of millions of people. there's a lot of people who don't know they have
it. gerri: you told me lots of people that have diabetes don't know. what are the symptoms? >> thursday. frequent urination. getting up five, six times a night. hunger, weakness. feeling of being warm after having food. gerri: what do you do? >> go to your doctor and get tested. simple blood test. you can do another test, the doctor can called the hemoglobin a1c. whether your sugars are attached to your cells. easy test. gerri: you can find out pronto if you're concerned about it, worried about it. easy peesy. we talked about mental functioning. there are other complications as well if you're not taking care of your diabetes. >> oh, besides mental function, accelerated heart disease. hypertension, high blood pressure. kidney disease. kidney failure.
people with numb feet, you know, and numb hands. they don't know why, all possible symptoms of diabetes. gerri: my goodness. answer this question for me because we were talking about this this morning, i was saying, you know, it seems to me from this study, people think that they're not as fit as they were just because they're older. but, in fact, there are other issues. these kinds of diseases create real problems that simply aging does not. >> major, major problems. accelerated aging. it's good for people in their 60s to exercise every day. 3 miles a day. walking a mile a day. gerri: 3 miles? >> go on the elliptical or treadmill, great benefits. will prevent cognitive decline. gerri: i will get busy. i have my list of things to do. thanks for coming on. >> good to be back. gerri: well, a fox business alert for you now. the rush of cash out of pimco, the mutual fund
operator, slowing down. total return bond fund, you may be in this, slowed down to $9.5 billion in november. when compared with the withdrawals of the 27.5 billion in october and the 23.5 reported in september, it doesn't look that bad. after pimco's cofounder bill gross left for janice, the money through out the door. what's going on now is positive news for the company, even with withdrawals, the fund is still the world's biggest bond fund. with $162.8 billion. still to come, my "2 cents more." it's been a plot in thousands of movies. robots take over the world. but heres a twist. a world scientist is warning it could really happen. more coming up after the break ♪ ♪ i'm only in my 60's.
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so i know how important that is. gerri: when great minds like stephen hawking and elon musk fears the same thing, should you. hawking says we should start colonizing our planets since artificial intelligence can end mankind. so is this really the end? bill nye the science guy. is it the end of the world as we know it. >> i don't think so. so i remind everybody about industrial machines of any kind. they can be dangerous. gerri: but he's talking about something else. they get together and take over the world and decide humans aren't necessary. >> humans design them and furthermore, humans plug them in. thurnlingif you don't have
someone shoveling the coal to make electricity, these intelligent machines don't have anything. gerri: we're talking about the next generation. >> you're preworrying. along that line, you have to have respect for these machines. if you've been in an airplane and watched cars on a road, it looks extraordinarily well-organized. when you're driving a car, whoa, there's a gazillion decisions. you could have cars that are autonomous that could do that job without making mistakes. it's when the job is messed up, that's when the car gets totally freaked. in the same way we make car engines, for example, so reliable. your mobile phone, say what you will, is so reliable. we have to get these machines reliable.
it's very reasonable. gerri: we're not talking about reliability. elon musk is invested in something called deep mine that he thinks will take over the world, put humans to shame. >> i'm a human. a lot of my friends are human. i don't want to design machines thattic deal that i cat deal with. these things don't come out of the sky. gerri: but they don't have a will of their own, is that what you're saying? we're imparting human characteristics to a machine, you something plug into a call. they don't have a will on their own. they can't get together and start talking, can they? >> hang on. the idea is they seem to have intelligence, that they make decisions. for example, the rovers on mars, for example. they drive around and can decide electronically whether there's a pothole in front of me. so that is a form of
artificial intelligence. right? a car that operates itself would have a form of artificial intelligence. gerri: and? >> is this machine going to -- you can even make a machine that's better at chess than you are. better at jeopardy than you are. is that the goal of machine designers? people are afraid of these things because we don't understand them. do you, for example, do you know anything about ttl? gerri: oh, lord have mercy, no. >> a nangate. these things are science. my claim to this story, by having a pop ulasp that not aware. don't let your babies become cowboys. let them -- gerri: what about elon musk? he's not afraid of this stuff.
>> it could have been an offhanded remark. he may have said, if we're inattentive, there will be a lot of car crashes. gerri: hold on to the electrical cord and don't give it up. >> when the battery runs out, they're not going anywhere. something to be respectful of, but not terrified of. let your kids grow up to be engineers. gerri: this is the favorite theme of yours. >> trying to change the world. gerri: we'll be right back
gerri: you know, you may be asking yourself why we at the willis report spend so much time covering the takata air bag story. the answer, it's simple: american lives at risk. the japanese company has made a business decision not to recall the air bags. nhtsa is supposed to have our backs. they're only
disappointed. while we deal with their disappointment, lives hang in the balance. the agency has to fix this problem and do it now. that's it for the willis report. we'll see you back here tomorrow. have a good evening. charles: i'm charles payne, and you're watching "making money." breaking immigration news just in. indiana the latest to throw its hat in the ring. bringing the tally to 17 states. soon, president obama over his illegal amnesty order. rich edson with the latest. rich. >> evening, charles. this is about to play out in congress a dozen state governments are suing the administration over obama's executive order to allow millions in the united states to stay. republican lawmakers are registering their opposition on capitol hill. they're talking about bills to fund the government and give republicans until next year to contest the