tv On the Money ABC September 18, 2016 4:30am-5:00am MST
hi, everyone. welcome to "on the money." i'm becky quick. he's conquered the nba and now he wants to conquer the world. we he had to china with steph curry. shaving cash the next time you travel. money-saving tips for your trip with the man who started kayak. is your money advisers watching out for hackers and is your information and from food stampings to food delivery, how a single mom started her own business with an idea from her daughter. on the money" starts right >> so, summer is almost officially over. begun, and now time for some of you at least to start thinking about what else, vacation.
there's no shortage of online options, but as more sites keep appearing, where should you book to get the best deal? there are new ways to get away, and that is our cover story this week. revenue from u.s. travel will be more than $380 billion in 2017, but americans are spending a lot of time searching for that trip. in the six weeks before actually booking a vacation, consumers made up to 38 visits to travel websites. that can search engines like kayak, expedia and orbitz and hotel review and hotel sites. online travel agencies received an average of 15 million visitors a month in 2014. that's the most recent year that information was available. airline websites had an average of over 30 million views, and hotel wednesdayize the over 20 million. how consumers use those sites is changing. by 2017 more than 25% of online travel bookings will be done on
having so many chases can be overwhelming. so travelers are now returning to old-fashioned ways of booking, travel agents. and in the last 12 months 22% of consumers used travel agents, the highest percentage in three years. millenials are leading the renewed interest because they say it saves them time and stress. steve hafner helped launch orbitz back in 1999. five years later he co-founded kayak and he's still the ceo of the travel search engine. thanks for >> becky, grace to be back. >> obviously things are always changing in the travel industry, but the idea of this kind of throwback vacation where people are actually looking to hire travel agents again, it's kind of stunning and shocking. himmials thinking that time is money so they don't want to deal with it. how do you as an online travel site deal with some of those trends? >> sure. it's interesting to have the trend reversed. you know, there used to be 26,000 travel agents 15 years ago and got down to about being 12,000 and now it's climbing
what you're seeing that there's a whole generation of people who are more familiar with text messaging and voice via siri who are looking for different interaction with an online travel agency than your traditional point and click with a mouse. >> those of us who are used to search engines and going into google. >> that'right, that's right. kayak the way we're trying to respond to that is by investing a lot into artificial intelligence, so we've got a facebook messenger chat bot, for example, voice interaction wh alexa which is a service from amazon where you can actually talk to kayak and say, hey, kayak, what's the status of my flight t later snad where can i go this weekend for $300? those type of services help the younger generation connect with us, and the services are pretty good. you know, they need tuning over time so we're reasonably smart about our answers, but they will keep getting better. >> obviously this is brand new technology for you, but how much of your business does it make up right now verses those of us who
a lot of people will use the desk tops, use the phones to search and then go to the desktop to book. >> let's talk about older folks going on and using the site the d way. i admit i go on kayak and check prices. may not buy directly and may go to the airline where i find the cheapest price. how do you get paid on a transaction like that? >> kayak, like google. don't need to make money every time you u if you occasionally use, eventually you'll clk g from the services that we offer we'll get a small piece that have transaction. you know, overall we process over 1.5 billion queries, you know. do you get paid on advertising. advertising as well, although we prefer that the services are -- that we provide are very clean so not ad heavy so it's up to the consumer for where they want and have the greatest comfort of familiarity where they want to go book from. personally i book direct with
>> that's right. >> and we try to figure out who your competitors are. who do you see as your xedtors? >> expedia and travelocity and those guys. what we really compete with is consumer familiarity and going to a traditional travel agency or going to the airline site directly one at a time. >> you know, mergers in the airline business and in the travel industry, but especially in the airline business, have resulted in less competition. what's that mean in terms of the ho does that impact your business? >> yeah, you know, consolidation overall is good for the american consumer. there are fewer airlines now, but the flight -- there's more flights and it's cheaper to fly now than it used to be. that's good for the consumer and good for kayak, too, because, you know, we can show people lower fares and more people will travel which is good for everyone. you know, i do hope the government let's more entrants in because it's always good -- >> competition. >> now airlines in, new routes opened up and new slots at the
encouraging signs that more foreign airlines will be able to enter into the u.s. >> speaking of new slots and new routes, cuba is a new destination that americans are allowed to travel to at this point. have you seen much interest in people searching for cuba? >> one of our top trending destinations, particu follg obama's visit there recently. three weeks ago jetblue became the first u.s. airline to resume scheduled service between u.s. and cuba, first time in over 50 years, and over eight airlines should be between now and the end of the year. >> wow. >> and kayak right now is the only website you can go to that actually shows you all the travel options. >> great. steve, want to thank you so much for joining us. always a pleasure to see you. >> always a pleasure. thanks, now here's a look at what's making news as we head into w w" american consumers didn't shop quite as much as expected in august. retail sales which are always closely watched fell by 0.3%
of slowing auto sales and falling gas line prices. consumers, as you know, make up more than two-thirds of the american economy. that actually sent stocks up on thursday because it means that there's a decreased chance that the fed will hike interest rates at its reserve meeting this week. the nasdaq climbed as well after a very choppy week with the market following the latest sentiment about a possible rate hike, but stocks were lower on friday. the consumer product safety commission is recalling the samsung galaxy note 7. the can explode and cause fires, and the faa has warned passengers not to use them on planes. replacements will be available this coming tuesday. we've all heard the buzz about self-driving cars, but now we may actually see self-driving carts. that's right, you heard right, carts, like shopping carts. wal-mart has reportedly been granted a patent for the carts which would have multiple sensors, video cameras and would be controlled through an app at the store.
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steph curry is known for his sweet jump shot and domination on the basketball court. now he wants to dominate the sneaker market, too, and not just in the united states. as the face behind the naft-growing brand under armour, he's got an uphill battle in china and southeast asia where nike and add das are clear leaders. our sara eisen got exclusive
on his tour across china and taiwan. >> repor here in southeast asia, it's the new front lines for the global sneaker wars, and that's why steph curry, backed by under armour, toured china, hong kong and taiwan to cultivate a new generation of sneaker consumers. it's why the battle won't be played on an nba court back in the u.s. but in small gyms across asia. >> ready, set, go. >> reporter: like here in taipei coaching, meeting, greeting, signing autographs and taking selfies with eager fans. but like it did in the u.s., under armour here in greater china is playing catchup to nike who has been in the market for decades. kevin plank, the ceo of under armour, is trying to do what he did in the u.s. in this market. >> it takes time, you know. since 2010 we've gone from our first million dollars in business to $3 million in '12 to
this year. >> reporter: increasing the revenue is something steph curry wants to make his mission as he's still learning the ins and outs of the business. >> all the conversations and the details that go into making a great shoe, a great apparel, i want to be a part of that day in and day out, and so those conversations have been amazing. they have been here in china to try to -- >> reporter: do you guys fight? >> we've had a couple, good battles, like teammates. if you don't get on each other other from time to time. who wins in this relationship? >> he wins, he's got the final call. >> r like under armour curry needs to build his brand. espn at allied the most famous athletes. nike stars like lebron james and kevin durant and kobe bryant comes in hat number 11 and steph curry at number 34, but curry says he's just getting started.
what he said to me and look what he said, under armour basketball, like give it to me, i've got this. >> reporte fans across asia came out in crowds, enthusiasticaling their heros and missing school and link up at 5:00 a.m. outside under armour's store just to get a glimpse. it's clear under armour has a rising star. >> thank, guys, thank you. >> reporter: who clearly likes this part of game. >> and while under armoural are growing very fast in the greater china region, multiplying by three times in just the first quarter of this year, there's still a tiny fraction of competitors' nic sales in the region which are about $4 billion and ly it's about less than 15% of under armour's total business. for nike, becky, it's more than half. >> sara, did steph curry an kevin plank give you any idea what they are working on next
seems like those two are really kind of co-conspirators with big plans there? >> it's a close collaboration and their fortunes are certainly tied. they have a new sneaker coming out. the curry 3s late they are fall, and we did talk about his chef curry shoes which were released earlier this summer. got mocked for being all white dad shoes. you can expect more those. that was not painful at all. i shade more dad shoes, more shoes left up interpretation, and beck, they were hot sellers. >> all right. something fun to see. sara, thanks for chasing them down around the globe. up next "on the money," protecting your informati from hackers. is your financial advisers doing enough? we have the three questions you need to ask before handing anything over. and later, she was a struggling single mom just off food stamps when her daughter
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businesses count on communication, and communication counts on centurylink. i am sebastian artois. brewmaster. risktaker. i sold everything i had to own a brewery. you might have heard its name... stella artois be legacy hopefully you trust your financial advisers with your money, but what about your personal information? new research shows most advisers think cyber security is a threat, but they don't know how to protect their clients from attacks. senior personal finance correspondent sharon epperson joins us right now with this disturbing story, and, sharon, what did the study say about the personal flfgs that goes into the hands of financial advisers because it is a lot. >> it is a lot.
largest gathering of financial planners at their annual conference and they did with td ameritrade and what's one of the biggest concerns that financial advisers have, and 80% of them, and many of them are independent, small fin advisers, say cyber security is a major threat, and they are concer about that. but only 30% completely agreed that they are actually prepared to deal with that threat. >> wow. >> so there's a huge gap there. there's a lot that they need to do, and many of them don't even know where to start. >> you probably go to your loc financial advisers because you trust them, it's a face and s sit down with. >> right. but at the same tim they may not be equipped and ready to deal with some of these attacks. what questions should you be asking your financial advisers about whether your money and information is safe? >> the first thing is you have to ask what their plan, is just like they have to have a plan for how they are going to invest your portfolio. they should have a plan for how they are going to protect your information, so the first thing that you want to ask is who has
who has access to my documents and who has access to my social security number and all the account information i'm provided and then where is in a information stored. then you n find out what if per chance you decide to leave that financial advisers or that financial advisers leaves the firm, how do they delete your sensitive date snarks. >> are there things you can do to protect yourself while you're working with a financial advisers? >> love the efficiency of e-mail but never put your social security number, your bank and brokerage account numbers unsecure e-mail. just stop e-mailing that information and use caution how much information you're providing. you don't necessarily need to put that infn all documents and if they are asking for it call them and ask -- call them to answer that question, what do they need and talk to someone and make sure that that information is going somewhere secure, and if you are using electronic communication, make sure that it's encrypted. one thing that i think we've talked about it when you're on a secure website the way you know
>> and there's a little lock in the corner. >> that helps you understand it's a secure site and transferring files or sending files, you can also do that with an encrypted password. hate all the passwords that we have to use and there's a reason for it and very important when you're sharing your sensitive financial informati that you use this encrypted password or secure site to do it. >> sharon, thank you very much. >> sure, my pleasure. >> u "on the money" a look at the news in the week ahead sent in a box straight to your door. can it your budget? no one surface... no one speed... no one way of driving on each and every road. but there is one car that can conquer them all. the mercedes-benz c-class. five driving modes let you customize the steering, shift points, and suspension to fit the mood you're in... and the road you're on.
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for more on our show and guest go to website obm.com. here's some stories that can affect your money. better get ready for things to heat up even more between hillary clinton and donald on tuesday we're going to get a read on real est hou st for august. wednesday, we get a closely watched meeting by the federal open market committee. it will end and we'll find out if interest rates will actuall rise in september. back in 1970, this day marked the debut of "monday night on thursday, we'll learn more about the econy when the leading indicators for august are released, and you can already start drinking your pumpkin spice lattes.
official day of fall. six years ago ashley tyrner was a mom just off food stamps and two years later while working and struggling to find healthy food for your young daughter. she came up with an idea. ought to be an easier way to get fresh fruits and veggies and that now is farmbox direct. thanks for joining us. >> thanks for having me. >> you were working in new york, trying to find good food to feed your daughter and it was hard to come >> very business and worked in fashion and didn't have anything in my fridge for my daughter who eats fruits and veggies, the organic options were not great so i figured i'm not the only new york we are this problem and i'm not. >> you're not from new york originally which is why you're able to come up this idea. >> my father is a farmer and i grew up with agriculture and healthy eating one thing to havd very different to come up with
happened? how did you sit down and come up with a plan? >> -- me about a year. i researched the market for about a year and trying to figure out how to ship this box. originally when i started out i was in new york and brooklyn delivering hand now we ship nationwide to all the lower 48 d then i just launched it one day. stepped down from my job and said i'm going forward and i'm doing this, and i admit i was crazy. >> you used existing infrastructure. true. >> going through fedex. >> outsoued to fedex. don't own any trucks, everything with fedus and use a produce supply in tht that i've created a partnership in and they source from all over the country for me. >> when i first heard about this i thought how is that possible because something could sit on the truck for fedex for two or three days until it gets here. how do you keep food fresh and in decent shape sand make sure it gets to my door? >> we're the people to ship just produce to your door. the government tried to figure
food desert problem and it took us a year to figure out how to ship the produce there. he's a complete environment that the produce lives in, there's liner and there's ice and kd of a logistical nightmare that goes into it. at my warehouse my supply chain is extremely tight and why i work so close with my produce supply company. produce comes in the door at 4:00 a.m. and out the door by 6:00 p.m. inhouse. >> you mentioned a food desert and an interesting concept that people who d areas don't know. what is that? >> 24 million americans live in food deserts with no access to fresh fruits and vegetables. >> what does it cost to get a box delivered to your sghoor. >> anywhere from $34.59 to $70. >> what do you get in the sfwhoks. 15 to 25 pounds of produce, a variety of 12 to 14 different fruits and vegetables. >> do i pick it or do you pick it to what you have access to? >> everything week we reset the menu with what's harvested
you're able to make substitutions to the box so say you don't want the kale being and take out the kale and put in the apples, a little customizable. and in terms of profitability, b spending the ms on the infrastructure, i would guess it's a faster road to profitability. u the yet? >> been in business for two years and every year we're profitable and cash flow profitable. you spent a couple years on food stamps and what's your in getting food stamps involved in this? >> i wanted to be able to take fooled stamps online and the government has never allowed that and happy to say they are starting a pil later this year to be able to take food stamps online and another thing i did is i brought in the former white house chef and senior policy advisers for nutrition to our first lady. >> that helps. and bringing him on he helped me really unders food deserts and the needs of people
income and people on s.n.a.p. that need acce to fresh fruits and vegetables. >> inspiring story, how you came up with an idea and made it happen. thank you, thanks for having me. >> that's the show for today. i'm becky quick. thanks so much for joining us. next week, the secret service is hiring. do you have what it takes to protect the president? each week keep it right here. we're "on the money." have a great one, and we'll see mething new. especially when it comes to snacking. th's w we're introducing cheese dippers. the creamy cheese and crunchy breadsticks thatreinvent snacking.o. cheey the laughing cow. cheese dippers. is that ice-t? nope, it's lemonade. is that ice-t? lemonade. ice-t?
sunday. >> here is what we are working on this morning. a blast left 30 people injured. many wondered if this was another terror attack. here what investigators said about this. a plane fell right out of the clouds. we are gathering the latest out of gilbert. an intent fire in buckeye. this was at an abandon churc