Skip to main content

tv   On the Money  NBC  August 3, 2015 12:30am-1:01am PDT

12:30 am
hi, everyone. welcome to "on the money." i'm becky quick. beating the big boys at their own game. the prices that could beat amazon and the more you buy, the more you save. but there is a big camp. are you ready for football? deflategate and keeping up with the time. how to tell if you need a money check-up. the doctor is in. and a taste of summer. offer some bubbly to the taste test. bargains to big bucks. "on the money" starts right now. >> this is "on the money," your money, your life, your future. now becky quick. it is the name that brings joy to most american consumers
12:31 am
and fear to most american retailers. but now there's a new game in town. a competitor who is also promising low prices and quick delivery. does amazon have anything to fear? that is our cover story today. 60% of americans made a purchase through amazon in the last 12 months buying everything from groceries to books and electronics. according to shulman research. >> the printer came from amazon, computer speakers here and here. yoga mats, this kindle, radio. a lot of cds. tv came from amazon. >> one in seven americans is a member of amazon prime. the 41 million prime members get unlimited 2 day shipping plus access to streaming music and video. these members spent 50% more a year than primetime customers. according to consumer intelligence research partners. and sales are continuing to grow. in the second quarter of 2015, amazon sales rose 20% to $23.2
12:32 am
billion. no wonder they're a success. what started in jeff baeses' garage. could amazon be beat at its own game? last night, shoppingclub.com opened for business promising lower prices for half the price of amazon prime's membership fee. mark lawrie joins us. >> thank you. >> i look at this like a competitor to not just amazon but costco. how does it work? >> we don't think about it competing directly with amazon or costco but a kond wit fcondu customers. this technology pulls the pie chain cost out of the system. we built this engine that processes in realtime as consumers shop to reflect the
12:33 am
true marginal cost of getting it to you based on what in your basket. >> part of it is luring shoppers almost like a gaming aspect of it. i can watch my prices go down as i add more to the basket. >> as you shop in a smarter way, it comes down, so you see that in realtime the prices going down. >> you've had success in the past. you've founded diapers.com eventually bought by amazon. what got to this strategy? >> i see that the market is in the early stages. we're about $300 billion online. we see the market going to $1.2 trillion in the u.s. alone and a lot of participants are focused on convenience and people that are willing to pay a premium for service and nobody's really focused on innovating around price. that's where we're focused. >> i think that jet.com is going to be a huge one for consumers. when you look at some of the prices, it's kind of phenomenal. in fact, we had a producer
12:34 am
playing around with stuff and ordering things. he actually ordered a toothbrush for $2.11. it was part of a larger order but the toothbrush when it showed up was shipped by itself from walmart.com and on the receipt you sent, it said it cost $8.10. that's a loss of six bucks. how do you sustain things like that? >> we are simply bridging, start-ups, the early days. the toothbrush will eventually be in the warehouse. we stock the all-day everyday essentials in the warehouse. the toothbrush will be in the warehouse and put into the box and the incremental cost is how we priced it. the fact we went out and bought it at walmart.com in this case is a temporary bridge. >> how soon will you have -- >> we have 25,000 products in the warehouse today and the end of 12 months, we have just about everyday essential product you can imagine in the warehouses. but still, that's the only stuff we sell.
12:35 am
everything else is from third party merchants. we're not competing. we're a conduit for retailers to drive for profitable traffic. we can drive in-store traffic, in-store pick-up and give them a back in exit to set rules about controlling profitability by avoiding. >> part of the problem, it was costing so much money to bring in new customers every time. i know you have $225 million in funding money that's already there. how long will that last though? how quickly will you burn through it? >> we have a lot of cash in the balance sheet and we'll be super aggressive about marketing. this is really a scale game and we've put out there the goal is $20 billion in five years. at which point, we'd be at scale and have a long road ahead of us. >> would you sell? could you imagine selling to amazon.com or somebody else? >> we're not obviously thinking about that now. we think there's an opportunity to create a large business.
12:36 am
>> okay. and what's been the most exciting thing you've done so far? >> i think it's just been exciting to have a decade of experience in ecommerce and being able to do this again from scratch. all the learnings, build the right culture from scratch and bring in great people. >> all right. mark, thank you so much for joining us. >> thank you. >> we appreciate it. >> i bet. now here's a look at what's making news as we head into a new week "on the money." picking up steam. the broadest measurement of the size and scope of the u.s. economy grew at 3.3% in the second quarter. consumers spending and exports strong. so that's below expectations, but it is better than last quarter's dismal showing. stocks snapped the five-day losing streak earlier in the week after global market stabilized. those stocks fell on friday. the federal reserves open market committee kept interest rates steady near zero and a hike could come this year. the fed meets in september, october, and december.
12:37 am
there could be a new window opening if you have a pc. microsoft introducing windows 10 that combines desktop and tablet features and best of all, it's free for most windows 7 and 8 users. up next, we're on the money. with football just around the corner, why is the nfl fighting with itself and can it score when it comes to a high-tech future? and later, everybody wants to be financial lly well off. what's one of the signs you're successful? take a look at the stock market end of the week.
12:38 am
12:39 am
i want to apologize to the fans of the new england patriots and tom brady. i was wrong to put my faith in the league. >> that was new england patriots owner robert.
12:40 am
upset that roger goodell upheld the four game suspension for accusation that brady and others tampered with the football. brady and the patriots deny wrongdoing. micha michael zaniana and michelle, thank you for being with us today. mike, let's talk about what's happening. this is almost the best of times and the worst of times for football. you couldn't think of a better business you'd like to be in but it's amazing to watch these blow up time after time. >> $10 billion industry. extremely fat profit margins, new deals coming all the time in the market and the tv side. now you have the court case coming to new york which i think is bad for brady and i think it will make things easier for the nfl to get the four-game suspension upheld. >> you think it's bad because it's a new york jurisdiction and the jets and giants fans here? >> i think minnesota is more favorable to the nfl players union. we saw that in the adrian
12:41 am
peterson case, for example. i think that's why they wanted it there as opposed to new york which i think is more unchartered territory for the nfl p.a. >> do you think at any point this impacts the business of the nfl? it's amazing the fans still show up and certainly television ratings have never been stronger. >> the nfl is teflon and i think we saw that as another demonstration with the far more serious issue last year, the nfl with ray rice and the video and there being more general awareness of some of the domestic violence incidents in the league and when week one game, everybody was back to the game. there's a pattern of only helping the nfl and maybe drawn in, i don't know who the people are considering how popular the sport is, they're drawn into the game because of the drama and the story line. >> i guess that's the question. janelle points out it's been teflon to this point.
12:42 am
>> great point too. if you look at what the number one jersey sale has been for any player, it's tom brady. to his point, you have a rallying around. people have somebody they love and you get new england rallying around and then a lot of those sort of like tired of this golden boy image of tom brady saying, you know what? we'll take the other side and going to latch on to this and despise him. >> it's this extension of the competitiveness we feel when we watch these things, watch it play out. >> the passion of the nfl, to what you said, one of the reasons the ratings are so high. >> what does it mean for roger goodell though? this has been scandal after scandal. ho wow, it's been a tough couple of years for him. >> i think with ray rice, he largely has the public on his side regardless of how this turns out in court. i think roger won the public relations battle. tom brady and the patriots are a
12:43 am
polarizing team. they win a lot. they've been successful. brady has a golden boy image. because of spygate, the perception of the patriots have they're cheaters. you're not going to find people condemning roger goodell for coming down on a team with people a negative perception of anyway. >> mike, let's talk about the business of football. it's amazing to watch what you can get content-wise online and what you can see for the comfort of your own home. the problem for teams that aren't in the leadership position. >> you know what, becky, i think you make a great point. you have almost sort of the stadium experience and the at-home experience. with the league, it's done a great job of on the margin managing to increase the new verizon deal that kicked in last year for handheld devices which is great. on the other hand, i mean, you still have sort of a problem, a little bit of a challenge
12:44 am
selling tickets. so even lowered the requirement of sold seats last year for blackouts and now they're not going to black out any games this year but on the margin, they're still going to grow at a high single digit rate in terms of revenue and the profit will be fat because they have the cap on player salaries. >> janelle, let's talk about the three teams that could wind up threatening to move to los angeles. you think any one of them goes there? >> i guess right now, i'm sort of eyeballing the raiders a little bit. there's been a relationship with los angeles and certainly people have as a team that's loaded the jaguars forever. some think they might go to london. i would be eyeballing that team because it depends what happens between them and the city. i know now or recently they had talks. it's just hard to imagine in this day and age period of a team moving. because that tends to have very, the negative consequences and the reaction from that. just curious as to how that would be handled especially with the day and age of social media.
12:45 am
we saw a long time ago with the colts in baltimore and obviously saw it in cleveland. i just don't know if there is an upside. the owners tend to hold cities hostage. i don't know if the upside in leaving the city like before. >> janelle and mike, thank you both for being with us today. up next, we are "on the money." how to tell if your financial fitness is fit. they may not be.
12:46 am
12:47 am
12:48 am
>> the majority of americans say they feel good about financial health and ability to manage and invest their own money but many left confidence in times of market turbulence according to a new wells fargo survey. there are times to let you know if you are financially healthy. how to find out if you're on the right track when it comes to your money and future. what are signs you're in good financial health? >> one of the things you should do is give yourself a financial check-up. the first place to start is know what's going on and what's coming out. know what you owe and own. that's really key. if you can tell folks and tell yourself what your liabilities are, what your assets are, you're in good shape. >> how often should you be doing that? once a year? >> definitely every year. one thing the know, when you look at what you owe and own, you get a better sense of your
12:49 am
net worth and knowing your net worth and comparing it to your income, that's a key point. if your net income is higher, net worth, rather, is higher than your income, you're definitely financially healthier and great shape. living within your means and that's another point. >> when i look at a house, you may owe but an asset or liability because i have equity in the house. is that your asset? >> the equity would be your asset but you definitely owe the money, you've got to count that. that's another point that comes in. you want to make sure the mortgage payments you have to make, the debt you owe. all of that adds up to less than a third of your income. and that's sign you're financially healthy. >> what are the signs you need to get more financially in shape here? >> not practical about your spending. spend whatever you want, whenever you want. from celebrities to people without money. that's something. you need a spending plan, a budget. the other thing people do, they don't have emergency savings.
12:50 am
how many people might have some savings automated for retirement savings but when it comes to having liquid cash on hand when something happens to your house or car, they don't have that ready and also, folks aren't planning for financial security for the future and have enough retirement savings. so having adequate retirement savings and a strategy to make sure that you have enough, that's another sign that you need to do some work. >> if i see one of the red flags that pops up, what do i need to do to try and address those warning signs? >> the first thing is to sit down and think about it and create a plan and then a lot of apps out there, a lot of online tools to create a budget. the basic thing, how much you're spending on committed expenses or saving for the long-term, your financial security, your retirement and college. how much money is also going into emergency savings short-term? and then you don't want to never have fun. you want to have some money on your want. you want a budget to allow you to do those things and when you need help, don't be afraid to
12:51 am
ask. there's non-profit credit counselors, financial advisors willing to help you create the plan that you need to get to where you want to go. >> thank you. >> my pleasure. up next "on the money," news for the week ahead and bottoms up. sparkling summer wines to fit your budget. we'll put them to the taste test when we come back.
12:52 am
12:53 am
because 100% whole grain oats are incredibly good for you. because they're heart healthy because they're good for kids. and granddads and everyone else in the family. everything we do is because of what really matters most. the goodness of oats and the people we love.
12:54 am
for more on our show and guests, otm.cnbc.com or on twitter @onthemoney. media and entertainment giant disney, cbs time warner, 21st century fox and viacom report their earnings. monday, auto sales are released for june and happy birthday mr. president. barack obama turns 54 on tuesday. on thursday, the buckeye state hosts the first republican presidential debate. it will take place in cleveland. and on friday, the big number of the week, we'll find out how many jobs were created when the unemployment report for the month of july comes out. u.s. beer sales are flat, wine is bubbling. uncorking 7% more sparkling wines this year than last. food and wine magazines executive editor wine editor ray is here to tell us about what's behind the sales. and open bottles for us as well. >> can't come without the
12:55 am
bottles. >> that's why we invite you back. >> it's the strangest thing. 40% increase in sales. >> why do we like sparkling wine so much more? >> i think what's happening is it started to branch out from being just a special occasion thing to just, it used to be weddings, events. that was the only place people drank sparkling wine and now it's for dinner, brunch, anywhere. >> like for dinner for somebody. >> yeah. sparkling wine goes great with food. people forget that. cheers, by the way. >> cheers, thank you for bringing this. >> this is one of the huge success stories. it's from italy and verseco has been growth for years straight. it's taken off like crazy. and that's kind of classic. >> it is light. and i don't even like champagne but fewer bubbles. >> it's a little less overtly bubbly than champagne. it's done in tanks as opposed to
12:56 am
the bottle creation part and softer, sweeter usually than champagne and kind of more of an apple flavor to it. >> definitely get some of those notes. this is spanish rose. >> rose has gone crazy. >> i make fun of guys who drink rose. >> people say bro-se. which is kind of, whether you buy it or not, someone out there trying to believe that frat guys drink rose. but this is spanish rose from the kava region with a compa compacompan compancompany company blanc. it's a steal of a wine. >> fancy event? >> then there's champagne from the region in france. this is a 2008 louis brute vintage. a small percentage of the champagne market.
12:57 am
1.3%. not counting things like don r perignon. that's a long glass. very smooth. it's very elegant. it's got complexity. it's about $80 a bottle. but i like the vintage wines because they're lower than the perignons. >> how much? >> about $80 and above the yellow label zone and a lot of bang for your buck, i think. and it's just lovely wine. >> what do you think about wine cocktails? are you a wine purist? do you think it's good or bad? >> i don't think it's a bad thing. people should drink what they like. i'm not out here to tell people, if you drink this, you're wrong, you know? but i think porseco, don't use something expensive in a cocktail because you'll lose what made it expensive.
12:58 am
it's fantastic my moe imosamimo. i had one the other day, terrific. so perfectly fine to experiment, do what you want. >> just do it with the cheaper bottles. >> exactly. >> thanks for being here. >> thanks for having me. >> that does it for us today. i'm becky quick. thank you so much for joining us. next week, making sure you can pay for your golden years. we'll have the top retirement of mistakes list to avoid. keep it here each week "on the money." see you next week.
12:59 am
1:00 am
>> ben adventure in babysittin babysitting. welcome to "access hollywood", weekend edition i'm liz. us weekly cover story claims ben is dating the family nanny that jennifer garner had fired. is there any truth to this or is it all nanny nonsense? is this the new woman in ben's life. us weekly head license dating the nanny claims the apartments is yes. meat christine 28-year-old allegedly hired by ben and jen this spring after the couple was already separated. unnamed sources say the atrack started right away and she was there for him when ben and jen finally anuns the split publicly. our sources say no romance

75 Views

info Stream Only

Uploaded by TV Archive on