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tv   MONEY With Melissa Francis  FOX Business  May 21, 2015 2:00pm-3:01pm EDT

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it would violate qatari nudity laws. melissa francis is here. "money" starts now. melissa: deirdre, thank you so much. finally waking up to the terror threat, the white house stepping up its response to isis by sending 2000 rockets just as the terrorists take over another key town. a second straight day of protests at mcdonald's headquarters. the fight for fifteen, as they go straight to the boss with one million signatures. >> >> monitoring your driving. making you pay up every time you drive a mile on a public road. when is a bad sale, a downright crime? jcpenney sued for never charging full price. even when they say it's not it is always about money. >> thousands of protesters around mcdonald's headquarters for the second day. yesterday's rally forced it to
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close a nearby restaurant. i'm joined by tom sullivan, veronica daguerre of the qsj, brian kilmeade co-host of "fox & friends." thanks to all of you for joining us. tom, let me start with you. i wonder why mcdonald's is selling more franchise. >> you wonder why. here is the problem the majority of people in the polls say asked would you like a give a minimum wage increase yeah of course. everybody knows that middle class income has gone down, not up. people are feeling sorry for people. the problem is restaurants make about 4 to 5% profit margin. these the wage increases are going to be maybe 20, 30%. you can't, it doesn't pencil. melissa: very healthy debate broke out on my twitter to feed when we did this. people posted signs at automated mcdonald's. they don't have somebody at counter. others say the ceo is making millions, why can't he pay a little more. brian, what do you think? >> i would like to see the
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profit margins. it's a public company. my feeling when you have the minimum wage job, you need this thing called another job. i had minimum wage jobs when it was $3.35 an hour. i needed another job. if you have to go part-time at mcdonald's and another job at night you have to do that. is the assistant job not may paying up. can you get another job another place? you have to get over the fact that minimum wage is not able to support a family. not made to be that. melissa: it is not a living wage. even at 15 it is not a living wage, veronica. >> we'll see more automation. we'll see more of that. that is exactly what the protesters don't want to happen, right? they're protesting against difference between rich and poor, how the gap is widening. we have more automation. that means less jobs. that grab will only get wider. melissa: only thing worse than low-paying job is no job at all. in fact as eight 1/2 million americans are still out of a job a new poll sheds light how
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hopeless many feel about their prospects. 40% of the america's unemployed say they have given up looking for work entirely. that is according to a new "harris poll." what is worse, half of them are blames themselves. veronica, they have just given up. >> that is staggering. a lot of people given up, you get depressed and that cycle continues. hard to get out there to look for work. what was interesting in the survey, people in less education were more likely to give up. i think that speaks to the need for education need for people to get out there and get those college degrees. that said, again the divide between rich and poor is continuing to grow. melissa: it is and, it was surprising to me that it is more men than women. brian kilmeade 57% of the unemployed were men, 43 were women. >> this is a little surprising number one. number two is you see the number growing. it is slightly better than 2014. 2014 was actually a little bit worse in terms of job participation. but that's the big story. i was wondering what they could
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do and build this into receiving unemployment benefits can you build it into retraining? if you're willing and able and jobs are gone for the skill that you have, can we build it in to retrain extend or put a timeline in say, you got six extra months. show you're going to school to retrain and fill a job where there is need it will work. melissa: or start a business of your own. got to do it yourself. >> what would you like to do? this is the opportunity to go do it. we could regail you with tons of stories about big successful companies started in the middle of a recession because somebody was fired from their job and they went out and started a company. why wait around for somebody else to give awe job. melissa: that is what this country is all about. small gains for stocks but crude oil is on major move up today up more than 2%. nicole petallides on the floor of the new york stock exchange with the tale of two companies, starting with lumber liquidators. >> indeed. so let's take a look at lumber liquidators. lumber liquidators moved to a
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new law down 14%. down all day. the ceo unexpectedly reshines less than a month before the chief financial officer resigns. the stock is down over 60 mers this year and remains under investigation. safety concerns uncertainty around the company. this all steps from a report from "60 minutes" about their chinese operations. and their flooring, lumber liquidators flooring, does it contain cancer-causing formaldehyde at high levels? where did they get their wood? these are the questions why the company is under investigation. shareholders continue to watch the stock drop day after day to the tune of 60% for the 2015. melissa. melissa: you're watching shake shack. >> we'll turn the arrow around. it is up over 8%. moves to a new high. up over 90% last three months. had an ipo this year. they filed for the trademark
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name chicken shack. you thought hamburgers was and moving forward with chicken. a new high. melissa: watch out, chik-fil-a. nicole, thank you so much. >> thank you you. melissa: every breath you take, every mile you drive oregon is watching you. the state is testing a program to tax drivers bit mile instead of a at the p. called orego or not. it is meant. i love this. you tax what you want to discourage, get less of. that is basic economic principle. taxing people out there driving. they're working. they're spending. doing all the things you want. so let's tax them. >> you know what they're penalizing? penalizing hybrids. melissa: that is the other thing i love about this. >> they are going after want you to drive these fuel-efficient cars. then they penalize you for doing it. i'm really anxious to watch this because it is a voluntary, it will start off as voluntary program. 1500 people so tear to sign up
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for pay by the mile thing. i wonder if they get more than five. melissa: so much that is bad and ironic about this big brother inside of your car. like he said this is all about, oh no, too many hybrid cars. they are not using enough gasoline. we have to find a way to squeeze money out of people. charge them about it mile get the people doing good things for the environment with electric cars. >> incredibly ironing. i would be surprised if they find 5000 people agree to have the government put a chip in their car to track their every single move. do you really want that. melissa: brian kilmeade, do you want it? >> you really hit home. i should take myself out of this like george stephanopoulos didn't say he was personally involved in the story. i have a hybrid car. although i live in new york, am i too close to it? melissa: breaking news. we want to take a live look in boston where former 8:00 new england patriotses player aaron hernandez is facing charges he tried to silence a witness. he not the witness in 2013 in
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florida, after the man made a remark about a 2012 double slaying. in that case hernandez is accused of killing two men over a spilled drink. hernandez was convicted last month in the 2013 murder of odin lloyd who was dating his fiance's sister. wow. newly-released footage showing china's controversial island building project. these coming at the price of a tense brush with china as it warns the u.s. plane multiple times by radio to go away. the plane take that picture. the u.s. says china has been piling sand on reefs in the south china sea to construct islands for military purposes. but five other nations claim this is their territory, including u.s. ally japan. stay tuned on that one. new fallout from fox business's exclusive report on dangerous hiring practices at faa as lawmakers take notice. our own adam shapiro is here with the latest on this story.
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adam, you're getting quite a response to the great program you had last night? >> we're waiting for response from faa the key player. the other key player was national black coalition of aviation employees. an executive of that organization, an faa employee who appears to help people cheat on personality test people have to take to get in. this was just sent to a young man who is member of the mbcfee and went public and spoke with us about his story. he never said a word about the nbcfae. but they sent him this email said we're trying to verify that hour you say you are because there is a certain individual with the same name as you belittling nbcfae. now matthew douglas allowed us to go public with the fact he got this email because he never said a word about the nbcfae in broadcast or taped reports or about shelton snow, the man you saw on recordings who appears to give people answer to the key air traffic control test. congress is getting in the on
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the act. the chairman of the aviation subcommittee of the house transportation committee has issued a statement saying that one, we have a whole series of questions based on this fox business network report. the faa can expect us to demand to know the particulars of this egregious situation. he went on to say, did this employee, talking about shelton snow who we revealed to you last night did this employee act on his own? if he did not, who else knew about it and what action is the faa taking? we're asking that question to. we've been asking the faa that question for several months. they have yet to respond. back to you. melissa: we'll stay tuned. adam, thank you so much. new insight to the 2012 benghazi terror attack. first batch of hillary clinton's private emails let the public compare with what she knew with what she actually said. plus a rough welcome to the real world. sorry 2015 grads looks like you're days of living with a roommate aren't quite over yet. more "money" coming up.
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melissa: they're out. "the new york times" releasing the first batch of hillary clinton emails to the public. fox business's blake burman has the details. blake? >> hi, there melissa. good afternoon to you. these emails which "the new york times" says it has reviewed about a third of the 850 pages worth contained sensitive but unclassified information. "the times" reports also they reveal two days of at deadly benghazi attacks, hillary clinton's friend and former senior advisor, sidney blumenthal, sent her an email saying benghazi was indeed a terrorist attack. clinton emailed an aide, quote we should get this around asap. however the very next day, in a speech at a ceremony to honor the four americans who died, clinton did not mention terrorism but continued to reference an anti-islam video. that of course stuck with the obama administration script for days, that the attack was
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spontaneous and the result of the controversial video. we can also tell you that the house committee investigating benghazi plans on questioning blumenthal along with long-time clinton aide huma abidine after that. we're told that is supposed to happen in the near future. just moments ago leading right up to our show melissa, on the house floor, republican lynn westmoreland, bub pub member of the benghazi committee railed against the department of state, saying the committee needs more documents for them to finish their final report. melissa: blake, thank you so much for that. let's bring in our panel. byron york from the "washington examiner." fox news contributor. tom sullivan and brian kilmeade are back as well. byron, i will let you go first. how damaging is this? >> the damaging part in what we know right now is that mrs. clinton apparently knew pretty well it was a terrorist attack. apparently arranged by a
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well-known terrorist group and then she kept going out in public and blaming it on this video. but remember here "the new york times" says they have only gotten a look at a third of the emails that have been turned over to the committee. there is a lot more there which is why the committee wants to be able to talk to hillary clinton more than just once. melissa: yeah. meanwhile, tom, marie harf is out right now. she is not confirming these emails or denying them. there she is right there. "new york times" just burying hillary clinton again. they're like her worst enemy right now. tom? >> it was, far as "the times" is going after here is what is such a challenge. i was watching a news program on another network -- melissa: why? >> there was, they ran a clip of hillary clinton in, when she answered questions the other day in iowa. although showed was about a 10 second clip of her saying, of course i want those emails released. so for people that are just,
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casual observer of the passing news they will think, what a great woman. she wants emails released. melissa: brian, do you think anybody watches her and thinks that? >> i'm not sure. democrat support for her is still rock solid. this is unbeliveable. this is the moment they have to pick the horse they will get behind for next year-and-a-half. as much as this seems to be one of the worst launches of any campaign that i can remember that is a front running campaign, not joe biden came out with statements against barack obama originally no one thought joe biden would get the nomination. this is interesting. this is a third of it. at which time they do worry that their version of the story is different from the president's and they say that she is concerned that republicans are advantage of this situation, make the president pay the price who by the way was up for re-election. melissa: not concerned what is going on but what is the impression of people out there. does the look like i misled people, not getting to the bottom of the actual situation and problem. every day she is struggling.
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clip ton's super pac raising only $5 million in hard commitments so far. it is set to collect a total of $15 million by end of june. this isrd coulding to a new report in the "wall street journal." so byron making a lot of the fact this is not a big number. it's a big number to all the rest of us, but in terms of raising money to campaigns compare it to jeb bush's campaign on collect super pac, set to collect $100 million by the end of may. i don't know if i believe this. if this is one thing we learned about the clintons they know how to gather money. >> you know what they say, huge if true. it really is. apparently the clinton campaign was so busy leaking they were going to raise 1.5 to $2 billion in the campaign, that they actually weren't raising all that much money. five million dollars for a -- $5 million of a candidate of her prominence this position today is a very small amount of money. ted cruz on the republican side has raise ad little more than
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$30 million. hillary clinton raised 1/6 of ted cruz's total? she is way behind at this point. melissa: tom sullivan, what do you think? >> i think democratic machine hasn't fired up. it is way too early, that's is all. melissa: one thing clintons don't ever have problem with is getting money. they have stockpiling it. >> i had a look of her checking account which had deposit 25 million last year. if worse comes to worse, make a withdrawal. write down in the ledger used in my own campaign. she will make ends meet. nowhere else for the money to go. i don't think the money will not go to governor o'malley. i'm not sure it will go to senator webb or the socialist in vermont. melissa: i'm not sure if you heard hillary is on hunt for new job. campaign quote hillary is on linkedin. you may have heard she is being look for a new job. i like it they wrote it. next time anybody in the media calling her by her first name, her own campaign is doing it byron york! >> if you look at the whole
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linkedin it was just another place to get her talking points about small businesses out. these, events she has been going to in iowa the last few days are all small business oriented. this is just linkedin in this case is just another campaign platform for mrs. clinton. melissa: she said she is about cutting red tape and expanding access to capital and providing tax relief. i read that, what? no, no. >> really? melissa: not even close. i'm sorry tom, we got to go. all right. another crisis for blue bell. troubles pile up after a dangerous listeria outbreak. plus, isis takes another town the white house finally stipping up as half of syria false under terrorist control, more "money" and answers coming up next. ♪ ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ ♪ she can print amazing things
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right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ ♪ my mom works at ge. ♪ ♪
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melissa: california now in a state of emergency as the cleanup of gobs of oil along the nine miles of the coast enters its third day. as much as 100,000 gallons of crude seeping into the southern california on both land and into the ocean after an underground pipeline burst. officials say the pipeline was recently inspected. they are still trying to figure out what caused this rupture. what a shame. a few stories on our radar. more face time with yellen. republicans are asking the fed chair to testify testify eight times a year double what she is doing now. two committees, including the senate banking committee want to hear more on how she is handling bank supervision and regulation. the pilot of a gyrocopter that landed on capitol hill now face as decade behind bars. the florida man has been indicted on six chars. he saysdcharges. he says he was aware that he was
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flying in restricted airspace but wanted to protest so-called corruption in the u.s. government. one way to do it. americans are spending more and more on necessities than thing they actually want. new research from gallup shows people are shelling out more on groceries, utilities health care, but less on big picket items and luxury items. that's a bummer. blue bell ice cream has been slapped with its first lawsuit related to their april product recall. a 32-year-old man is suing the company claiming he contracted listeria meningitis and now suffers brain damage after eating the ice cream. experts say blue bell should be prepared for many more legal battles. joining me now to weigh in on all this is the an attorney who specializes in corporate litigation. it seems like the biggest hurdle that this gentleman has is proving where he actually got the listeria and meningitis? >> i agree with you, melissa. the problem is he contracted it two years prior to the current
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outbreak. so the situation is, they think he got it from where he works. that the product was sold at his place of work. he thinks he ate it on a leg -- regular basis but they have no product that he actually ate. they can't trace containers. he has brain damage, so his testimony won't be helpful. so it will be circumstantial at best to prove that he contracted it from -- melissa: what do you think are the odds? >> you know the situation is pretty good for him because there are not other sources out there that he could have gotten listeria from. melissa: okay. >> it's a big hurdle for him to get over but have to get a jury to believe this is the only place he could have gotten listeria. proving a circumstantial evidence case where you don't have any direct evidence is a big hurdle. it is very cumbersome. melissa: other companies are being held liable though. if you look at conagra. >> right. melissa: they just pled guilty to criminal fine. they're paying over $11 million
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because of their own problems in the same vein. >> right. melissa: blue bell could face the same thing. >> blue bell is in trouble. they were actually distributing product, this man's lawsuit shockley's lawsuit, even though he was con, he was contaminated two years before, two years later, they have provable evidence that in their oklahoma facility they were producing ice cream that was contaminated with listeria. melissa: yeah. >> they sent it to hospitals. they sent it toking homes. they sent it to schools. melissa: they have a big problem this case or not they have got a big problem. >> nick, thank you so much. >> thank you. melissa: beware of sale sign. you my not get a cheaper price after all. jcpenney is in hot water after failing to charge full price. serious about this one. calling iran's bluff. a high stakes chess match playing off the coast of yemen. biel tell you who has the upper hand. "piles of money" coming right up.
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♪ melissa: another city falling to isis. now controls 50% of syria after the takeover of the ancient village. that is according to the theory in observatory for human rights. a former state department official. do you believe that? do you believe they control 50%? >> i believe they do. a thin line of isis control. that is where the rivers are. where the roads are. a major point at the end. you can fill in the space between those lines of control that is what you have is isis territory. a huge part of iraq and syria. >> marking the first time that isis has seized territory directly from the military. >> yes it does.
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it is very, very troubling. reports that we will expedite the thinning of antitank missiles over there. the problem is, was sending weapons, they are only as good as the people that are using them. there is absolutely no reason to have much faith in the iraqi forces after this latest retreat. melissa: libyan soldiers are fighting with isis militants in benghazi now. another territory and other countries did how dangerous is that situation? >> it is very dangerous. essentially we have a possible ally in libya. he is not islam is. the obama administration has not backed then just like it has not seriously about people against isis for people in syria. we are letting these wildfires
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rage unintended. >> 17,000 westerners have gone to syria and iraq to join up with the islamic state. why is it such a big number. >> you are having seen a lot of that from europe. an increasingly radicalized subpopulation in europe that is doing this. as far as what we are trying to do to stop them and iraq and syria, it has just been largely an essential up until now. reports of the mission that we perform every day only a small percentage one out of four actually drops some ordnance ordinance or a mission on the target. clear implication is and is not
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working. melissa: the fight against isis. is this a good strategy? >> first of all isis, as a matter of fact, when they took over they got vehicles that we sent over there. we have been a major supplier for isis. no matter how simple the weapons are, it appears that the forces over there the iraqi forces, need a lot of american help in operating them. these forward air controllers these spotters that can help american pilot actually hit targets with some precision. that is a huge impediment to our effort over there. >> we are sending these rockets. you worry about them falling into the wrong hands. the flipside of that is they need to be armed. >> they do.
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i can sell you a lot of iraqi rifles that have never been fired and only dropped once. the government and army will take back land and sunni iraq. we will get sunnis to rise up against isis. that is an applaud assumption. as long as we plan to put it back together, as long as we have the obama backing we will not win this war. melissa: gentlemen thanks to both of you. backing down. a cargo ship headed to yemen has changed coast. it is now headed towards the coast of africa to unload its goods. iran says it was just carrying humanitarian aid. nothing to see here. some experts are worried that iran is trying to fuel a war in
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yemen. a quick look at whale. settling up nearly 3% on the session. you can see it is up a little higher than that right now. get ready get set go. indy 500. which professionals boortz players make the most money? i will give you a clue. it is not the racecar drivers. at the end of the day it is all about money and sports. ♪
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♪ melissa: i am melissa francis with your fox business brief. cbs is buying drug provider omnicare. shares of both companies moving on the news. the takeover will help provide more business to senior citizens and nursing homes. shares surging by more than 50% on the first day of trade. the initial public offering of $17 a share. they make software that helps with online sales for retailers. able to raise more than $130 million. aly baba shares are moving higher. initiating coverage on the retailer with a outperform rating. they are underestimating the potential to make more money. that is the latest from the fox
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business network. giving you the power to prosper. ♪
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melissa: grab your engines. the indy 500 kicks off this weekend. the 99th running of what is billed as the greatest spectacle in racing. jeff flock is standing by. he has all the details.
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jeff: i have a real treat with you. back in the garage. i have the reigning indycar champion with me. >> yes that is right. jeff: i am looking at your car right here. >> you are. jeff: i thought they were broken. i am not the biggest expert in the world. we had a few crashes. are you worried out there? >> yeah. i mean, you know. arrow dynamics have definitely change since last year. the indycar is working on it pretty hard. understanding why they are taking off. jeff: that is your car back there. we are talking about indy cars versus nascar. tell me why you do not drive stock cars instead. >> it is just the career path i
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took. i love open wheel cars. quite a bit faster than nascar. nascar is a very strong series. indycar, no other car in the world driving 240 miles an hour. jeff: we have been talking to fans out here. the indycar drivers are more friendly than the nascar drivers. >> absolutely. absolutely. jeff: every bit as passionate as a nascar fans. >> absolutely. ashley: you are the reigning champion. addictions for sunday. >> just kind of hanging out in the new will go for it. i want to put myself in a position to win. we have four cars here that can do the job. i really want to do it. jeff: appreciate it very much.
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looking with here at the garage area. fans around. cars around. the brickyard. melissa: all right jeff. thank you. i think that those fans were starstruck. thought you were getting a steal, think again. retailers jcpenney is being sued for allegedly inflating the original price of items to make discounts seem more appealing. oh no. retail expert and fox news contributor. i love that somebody is stewing over this. i always assume that when they had these big markdowns the original price was inflated. >> it has always been like this. they like to feel like they are pulling the wool over the retailer's eyes. that is why they go in and flock to the store. when ron johnson was in there he tried to have this
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transparency. >> talking about the former ceo. the prices, the prices, every day low prices. you do not have to worry about it. now it turns out that they are getting sued for doing the opposite. msrp. this shirt was $30. in this case, in particular, the plaintiff bought three blouses. they were each 17.99. it was supposed to be a 40% discount. no one ever paid more than 17.99, the discount price. she is claiming that the whole thing was a lie and she could sue. >> the consumer did not change any money. the products you bought was sold for the same price everywhere else. this happens -- melissa: misrepresentation. >> who buys a car at sticker price?
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no one. they go in. they negotiate. they feel good. sticker price is the same thing as jcpenney's high price that they put on a product to make people feel like they are getting a discount. when they did have price transparency walk away from the store. >> i think everybody wants a discount they do not want to feel like they have been tricked. saks fifth avenue, somewhere someone paid full price along the way. that price was just a lie. >> people are not necessarily paying the full price on things. we were, as consumers to just pay a wholesale price. that would be the real price for us to spend on something.
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the difference between jcpenney is these promotions have been baked into their number. 3.4% for the last two quarters. revenues have now gone up. melissa: it is working for them. >> really working for them. melissa: thanks. changes could be on the way for your daily newspaper. the final farewell for david letterman. >> thank you very much, ladies and gentlemen. welcome to the late show. i will be honest with you it is beginning to look like i am not going to get the tonight show. [laughter]
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♪ ♪ [ male announcer ] tora bora fallujah argonne khe sanh midway dak to normandy medina ridge the chosin reservoir these are places history will never forget but more important are the faces we will always remember. ♪ ♪
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melissa: the u.s. set to officially release hillary clinton's e-mails.
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this after the "new york times" published the first batch from her private server. state department spokesman speaking just moments ago. >> i can neither confirm or deny the authenticity of the documents published by the "new york times." they have not shared secretary clinton's e-mails with any new york organizations. i can also say that we will be releasing very very soon the first set that we said we would release. related to benghazi. melissa: that clears it all up here and whether it is on wall street or main street, here is who is making money today. the highest players in the world. average basketball program $4.6 million in the 2014-2015 season. the average hockey player got
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$2.5 million. football players just over $2 million each. making money and a different way. usa today. could stop printing within the next five years. the focus will be on digital. a pratt will still exist in some form. chelsea clinton is releasing a children book called "it's your world." get informed. get inspired and get going. there you go. heading into the last hour of trading, let's check in with liz claman. she is inspired. she gets going. liz: always. always. always melissa. you have to watch this final hour. stocks. we know you are always watching for the next big thing. we are about to hand you a
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brand-new book, so to speak. a yearbook of top stocks. sean egan has begun to compile a guide that scrutinizes whether these companies have management that is more interested in paying itself been improving the company. a fox business exclusive. we will open that book. sean is here. he is dropping names. we will plan your trip on one single website at. all your pairs. wherever you were going. melissa: be sure to tune in for back-to-back episodes of strange inheritance. the show highlights unique inheritance this and the shows behind them. a family that inherits a struggling movie theater and small-town pennsylvania. this story will seriously move
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you. you do not want to miss it. another struggle for the class of 2015. you may not be moving out on your own just yet. at the end of the day i've got a tell you it is all about money. ♪ ♪ ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ ♪ she can print amazing things right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ ♪ my mom works at ge. ♪ ♪
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>> the ends of an era david letterman leaving late night tv with a bang. last over 6,000 show ending with impressive ratings. letterman drew the biggest audience in ten years. a slew of celebrity friends dropped by to read last top ten list that was probably best part. steve martin mentioned extensive plastic surgery both necessary and a mistake. bill murray said he would never be able to repay all of the money he owes him. meanwhile president present and past dropped by to make sure he was done for good. >> my fellow americans our long national nightmare is over. >> our long national nightmare
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is over. >> our long national nightmare is over. our long national nightmare is over. >> our long national nightmare is over. letterman, is retiring. [laughter] just kid, right? all right from magic grim signs from the class of 2015 new college graduates cant afford to live anywhere in the top rental in the country from triewl ya joining me now is fox business's own cheryl and jason from vision young, thanks to both of you for joining us. let me start request you always the case that new grads get out, an they don't make that much money so they have to double up and triple up. now in the top 25 markets i mean new york it makes sense. l.a. but now it is like everywhere. >> everywhere it is in places like phoenix even in st. louis
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graduates have to make at least 8,000 dollars more than the annual income of what they're making. in that particular city, the trulia junction junction posing with rent. average for 60,000 in new york they need an extra 88 per year to afford average rent in new york. worse in san francisco. >> what is this about? is it about property prices going up or incomes going down? >> i think it is a few i think this is most -- from 2015 class of 2015 graduated with most ever in history, and a 70% of these students are graduated from debt 38,000 on average that is not helping them in any city in america. so i think it is that. but also it is supply and demand there's no new rental product onis line, and reason to talk about it are land prices in new york city, and san francisco and miami and other cities in the
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country, major cities, prices have gone to nosebleed levels and developers can build luxury condominium projects to make money -- >> does this mean that everybody is going to work in the city where their parents live to move back into the basement? >> a lot of new college grads that have to double and triple up in apartments if they want to get out there and work. his point about construction we have not seen -- that lag never returned for a lot of that multifamily unit construction what is a multifamily unit it is an apartment building. and either it is a luxury condo or single family home. but that multilevel building has not happened it hasn't come back another part is believe it or not don't laugh labor issues. any college grad if you can't find something in your field right now i suggest going to work in construction. because they're paying great. >> you can't afford a house, build one thanks to both of you. that is all we have for now i hope you're making money today. don't forget that starting june first, i'm going to be moving to a new time and a new show me and david azmun after the bell
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weekdays 4 p.m. eastern we can't get to get started in the meenl time here's what's claiming down with count down and she starts right now. >> one quick here we have a bunch of breaking news some of it involving hillary clinton's e-mails are coming up in two seconds. faa's big fat f congress now demanding answers following a fox business investigation. it is revealed that the faa has been helping some air a traffic controllers cheat on entrance exams. the app that can help you map out for the week. it is so much easier we're talking to the ceo of and ben at new records. oil back above


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