tv On the Money ABC August 13, 2017 7:30am-8:00am EDT
. >> hi, everyone. welcome to "on the money." i'm becky quick. forget the employee i.d. card. one company says an implantable chip is the wave of the future. snapchat. teens love it but it may know more about them than you would like. how to turn off an option that could lead to some big probl travel insurance -- is it worth the price? what's covered and what's no amazon's alexa. she can do more than just play music. now it can play a role in home health care for seniors. >> what are my activities for today? >> and the rise of rose. why so many people think pink when it comes to summer wine. "on the money" starts >> this is "on the money" your money, your life, your future. now, becky quick.
implants. a wisconsin technology company is offering its workers a chance to toss their employee i.d. card and forget all those pass words. in exchange they'll insert a tiny microchip under the skin. would you do it? that's today's cover story, "chipping in." it wasn't a traditional office party. last week in wisconsin, three square market offered to microchip its employees. >> all right, you're officially chipped. >> more than half of the 80 workers voluntarily agreed to >> it's not bad. >> they each let the company insert a $300 microchip the size of a grain of rice right into their hand. >> that's where it was inserted right there. i got mine done yesterday. and i was scared to death. i thought it was going to hurt like crazy and it was nothing. >> the device allows door access for employees to enter the building, sign into their computer and pay for snacks. it
badges and credit cards. >> right now literally, you don't need anything in your pocket. you can carry it all in your hand if you really want. >> not everyone wants to. some holdouts refuse to be chipped. >> i still haven't seen a lot of research on long-term health effects and it kind of freaks me out a little bit. there's a foreign object going into your body. >> todd westby is the three square market ceo. this is a really idea. why did your company decide to do it? >> well, if you're a technology company, things like this are actually exciting. we don't look at it as being too weird. but when the opportunity presented itself, we initially decided to do it just because we thought it was, i don't know, i guess you could say cool, something different. .e never expected honestly what we didn't expect it to go like it did with all the media excitement and everything. we were just looking at it from
initially. >> yeah. i mean, it certainly caught my attention when you all did this. more than half your employees decided to go ahead and get implanted with the chip. what about the people who di >> well, i think they did it mainly because they were informed and told exactly what it can do and can't do and what it does do and doesn't do. then they made the decision for themselves that the people that did decide to do it really were looking forward to a lot of the conveniences that it does bring to the everyday life. >> you' got a microchip in your hand. you did decide to go ahead with it. did it hurt? how does it feel? and what's it been like using it. >> i actually have two of them. i have one in each hand right here. i guess being a technology company, one is for test and one is for production. >> what does that mean? one is for test and one is production? >> anytime you develop technology, you've always got beta stuff this goes on. i use the one in my right hand for beta
production, but as far as it hurting, it feels like basically somebody stepping on your pinkie toe with a dress shoe on. it really doesn't hurt at all. >> does it feel like that all the time or when you first get it put in? can you tell it's still there? >> just initially when they put it in. it takes about two to three seconds to do. that night if you ice it, pretty much the next morning you don't realize it's there. >> that sounds like a whole lot of things that would make me three times about going and doing this. what happens to the chip if someone leaves the company. do you take it out? whose property is it? >> it was never designed to be our property. we decided to put it in the employees as a form of convenience for them. when employees leave, we actually consider it an employee retention tool. we do not plan on taking it out. it's up to the employee. >> an employee retention policy because we're not going to take it out. it's
so we're going to keep you? >> well, not that sense, but it is really convenient having the chip in your hand with all the things it can do. especially using it as a credit card form of payment at any convenience store or any store. >> i know that your chip doesn't have a gps in it, but when i first heard about this, my first thought was wait a minute, this is a way for the man to find out when i'm coming to work and when i'm leaving. could you use it with those capabilities? >> this particular chip, no. however, we are developing a chip that will be able to use as a gps device. and, you know, when it's talked about big brother, big sister, you would not believe since this chip came out all of the interest there is with a gps chip for children and so forth. >> all right. we will continue to watc todd, thank you very much for your time today. we a >> thank you. now here's a look at what's making news as we
the stock market had its worst day since may on thursday. the dow tumbling more than 200 points on concerns about north korea. that happened after the dow hit new highs earlier in the week. the nasdaq falling more than 2% and the s&p 500 down more than 1% to close at one-month lows. although stocks rebounded on friday. there are very few signs of inflation in the economy, at least based on the numbers we saw this week. the producer price index which measures the price the company has received for their goods and services fell by 0.1%. economists had been expecting an increase of 0.2%. consumer prices also rose less if you are looking for disney or pixar movies on netflix, you won't be finding them for long. the entertainment giant is pulling its films in order to start its own online streaming service in the next few years, including a streaming service for espn. producers of don't move to control more o that content is distributed.
media app that's a big deal. but parents of teens, beware. there may be risks attached t right now, take a look at how the stock market ended the mike and i are both veterans, both served in the navy. i do outrank my husband, not just being in the military, but at home. she thinks she's the boss. she only had me by one grade. we bought our first home together in 2010. his family had used another insurance product but i was like well i've had usaa for a while, why don't we call and check the rates? it was an instant savings and i should've changed a long time ago. there's no point in looking elsewhere really. we're the tenneys and we're usaa members for life. usaa. get your insurance quote today.
that's a friend on snapchat. you can see exactly where they are, driving, listening to music, even playing tennis. >> the app is very addictive. every time you open it, it marks where you are. >> it can let you pan around the globe and see what people are doing right now. >> where is she? she's in sweden. >> hot spots show where big crowds are all snappin >> there's a protest. >> reporter: and users are snapping it up. >> people are getting more comfortable sharing more and more information. powerful tool for advertisers. but does map take sharing and connectivity too far? if you opt in, snap shares your location with friends, down to the address. attorney michael kazan specializes in privacy. >> there's the issue of back actors, someone stalking. >> reporter: a concern for teenage users who may just down load apps and not read the fine print. >> aot
what they're agreeing to. >> reporter: and it's something businesses need to be aware of, too. >> giving this much information to snapchat itself allows this em to really target our behavior. in ways that are a step up from what they would be able to do without this type of location >> reporter: if you turn it on, you can always opt out of the feature by turning it on ghost mode. but it's easy to forget to turn it off and wind up being tracke gps tracking apps like this are already on law enforcement's rad rada >> it creates almost like a flash mob ment >> reporter: former lapd chief says showing where big crowds are in real time can be a security risk, especially after an event like the one in manchester, england, when a suicide bomber killed 22 people and injured more than 100 at an arianna grande concert. >> soft tarts are something that we're trying to defend against right now, not only on the inside of stadiums and
but hardening the outside core where you haveless control. >> according to snapchat, the safety of our community is important to us. snap chatters can choose exactly who they want to share their location with, if at all, and can change that setting at anyt but kazan says parents still need to be very aware of what their kids are doing. teenagers might not be thinking too much about privacy, but just connecting with friends and doing what everyone el and nbc universal, the parent of the company which produces this program is an investor in snap inc., the parent company of snapchat. let me tell you, i have a 13-year-old daughter, they are all sn >> yeah, all of them are. is this really all that different than other apps that track use? things like google maps? >> reporter: with things like google maps and waze you have to be tracked to use it. but with snapchat, you
have to be tracked to use the system. but kids love to do it. they love to show the location, hey, i'm in sweden, hey, i'm here. they constantly want to show it. >> thank you very much. voice-powered assistance like amazon's alexa are another kind of interactive technology. a new trial with seniors living at home, these devices are becoming virtual caregivers. >> what are my activities for today? >> two medication reminders. >> this woman was skeptical. >> i didn't understand why i needed this. >> the 81-year-old soon became a fan of how much easier it is to get help when she needs it. >> if i eve fallen, i have this button i push, but it often times takes a while for them to answer and find out what my problem is. but with alexa, it's no time at all. >> nurses
testing the alexa program say it helps them be more responsive to needs of patients and family members. >> it gives family members the same access we have to check and see how the client is doing, how their mom is doing. >> the program was designed by a 2-year-old boston start-up. >> aelectrica, start orbit up. >> welcome back to your support assistance. >> orbita, a voice plot form developer working with health care firms. >> voice is becoming that next wave of how can we engage? >> reporter: they're working with clam prams with clients like hospitals to track patients' health at home and drug makers to collect d >> ultimately have to make the information you collect actionable. our system can notify alexa of health record systems. >> reporter: they think amazon, google and
technology combined with computer learning can be a game changer. >> interacting with a consumer with their data and the world's medical literature. no one has done that yet. >> reporter: it's still early day, but a number of major insurers say they are looking at possibly using the technology with their medicare population. to help seniors age in place at home and not in a facility. and feeling connect eed by havi alexa at the ready. >> i think of her as a person, but she's really just a machine. >> reporter: one who helps her reach the people she needs. healthcare experts warn they will need to address privacy issues. up next, we are "on the
flooding, nothing you want to see when you're on vacation. but what if it actually happened? what you need to know about travel insurance. and later, it's 5:00 somewhere. why just like the people who own them, every business is different. but every one of those businesses will need legal help >> jst like the people who own them, every business is different. but every one of those businesses will need legal help if they age and grow. whether it's help starting your business, vendor contracts or employer agreements. legal zoom's network of attorneys can help you every step of the way, so you can focus on what you do. we'll handle the legal stuff that comes legal zoom, legal help is here. you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease.
carolina when a construction accident knocked out power for a week. and without travel insurance during an incident like that, people are just out of luck. joining me right now are spencer houldin from ericson insurance advisers. >> good to see you. >> what typically is covered? >> it depends on the contract. there are a plethora of contracts out there. you have to be ca typically it's going to be a medical situation that occurred before you left, either you or your travel companion or family member that prevents you from going. or it could be a natural disaster that prevents you from going. but there's a lot of ancillary k06r7b8g cove will trigger it as well. maybe your tour guide went out of business. mab your business partner passes away and you have to conduct business. maybe jury duty. >> obviously all of these products are a little different. is there anything i need to be on the lookout? this is a good policy? >> for every insurance contra
exclusions part of it. the biggest thing in these policies is pre-existing conditions f the insurance company is quick to pull the trigger if all of a sudden you have a chest pain and they look at your medical record and you had an issue with your heart zen year seven years ago might say you have a medical condition. a lot of contracts, you can pay more and have the exclusion removed. >> how expensive are we talking? >> roughly speaking, it's about 10% of the cost of the trip. but if you're going to add some of these extra endorsements, it might be another 5% or 10% to put on. one endorsement i highly recommend is cancel for any reason endorsement. >> so you're not going to feel like you're throwing your money away at least. of theuse the outer banks issue contracts wouldn't have paid for that because it was off site. but if you have an extra endorsement,
reason, that would have covered yo that brings up the point a lot of people will purchase this online or through a travel agent. but they're not insurance agents. >> if your claim is jekt jekted, do you have any recourse? >> absolutely. somebody was diagnosed with cancer after they booked the trip. they had to stay home. and the insurance company tried to deny their claim. they said pre-existing condition. we got the doctors involved. there was no pre-existing condition. but it's an example of why you need an advocate. but absolutely you can >> good to know. we appreciate you coming in today. a look at the news for the week ahead. and the future sure looks rosey. the summer sensation that's selling like hot cakes.
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here are the stories coming up that may impact your money this week. tuesday brings closely watched retail sales numbers for july. on that day back in 1939, the wizard of oz premiered in hollywood. on wednesday, the federal reserve will reveal tminutes frm the last meeting. plus, 40 year since the king of rock 'n roll, elvis presley, died in 1977. on thursday, we'll get a measure of the economy, with the release of the industrial production
estimate of consumer sentiment for august. it' not quite red and it's not quite white. lots of wine drinkers used to turn up their noses at rose, but summer sales are sizzling. seema mody has that story. >> reporter: once referred to as cheap and unsophisticated, thanks to smart rebranding, rose wine is in fashion, becoming the quintessential drink of the summer. >> i feel like we're going through a peak right now. and there's also a great variety of roses, different styles, different colors. and people just want to try new roses. >> reporter: sales are up 60% over the past year. it's become so popular this winery 100 miles east of here
ran out of their sibt sumner a behind the strong demand? think pink. it's the color, packaging, versatility and price, typically cheaper than champagne. and in a very modern twist, social media buzz has also contribu the use of catchy hashtags have been widely prevalent on instagram, so much that two millennial women started their own brands selling roses, apparel and accessories. >> every year we double our sales. >> key customer is women mostly. >> just the right amount of spicy and sweet. >> we've been actually freezing it. >> it's been hip for a few years now. >> and experts say as rose wine evolves, demand will continue. canned rose has been a big trend. in fact, sales of the broader canned wine category are up over 80% in the past 52 weeks. we spoke to union
told us half of their 350,000 cases this year will be in cans. i bought some cans for you to tr >> they're really cute. >> reporter: it's this type of invasion we're seeing in the wine space. >> i haven't tried a rose in years. this is like a wine box for -- or like a juice box for adults. >> who says you can only drink beers in cans. cheers. >> here we go. >> reporter: refresh, right? beautiful. and how cute is this can? pichg and girly. >> i like it. i want to see what this tastes like. i haven't tried this in years. let's compare it to this one. >> this is whispering angel, the most popular rose on the market. the biggest producing region of rose in the south of france. >> really? i like the glass clink, that's good. oh, i like that. >> crisp, light. >> i think i like that one better. but rose is a good thing. you're right. i turned up my nose for years. i know it's
last several year, uh be i'm shocked to see how popular. >> reporter: demand is really strong and mill lineals are a big part of the story there. >> do guys drink it to? >> they do. rose, hampton's gatorade. that's the show for today. i'm becky quick. .hank you so much for joining next week, a wall street investor who is funding the search for a cure for parkinson's. this is an interview you don't want to miss. each week keep it right here. we're "on the money." have a great one and we will see you next weekend. >> cheers.
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good morning, america. breaking news. terror in charlottesville. chaos in the streets. >> go, go, go go! >> as a car plows into a crowd of people. >> pools of blood all over the grown. people screaming. i have never seen such a blatant horrific racist attack in my entire life. >> victims thrown in the air. one woman dead. others critically wounded. >> it became a big doggone melee out here. >> the alleged driver arrested. what we're learning about the suspect this morning. was he fueled by hate? and fighting erupts. on the streets of this american city. hate groups making nazi