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tv   Real Money With Ali Velshi  Al Jazeera  April 6, 2014 1:30pm-2:01pm EDT

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a new found appreciation of these marine giants. baja, california, mexico. >> thanks so much for watching aljazeera america. "real money -- is up next. >> too many americans have been out of work for aware too long -- for way too long but i'll reveal a silver lining, something we haven't seen in several years. and gm's known fame your to recall dashes failure to recall may be criminal. a shift in health care coverage. that will affect you some day even if you are covered by your employer. i'm ali velshi and this is "real money."
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this is "real money" you are the most importantly part of the show oso -- important part of the show. we really do read your responses. hey, america's economy picked up some heat after a bitterly cold winter. 192,000 net new jobs were created in march. and whiling figures for the prior two months always revise the prior two months ended up being up by 37,000. now averages 183,000 per month. not too shabby. 150,000 or plus is okay. 200,000 plus is better. both president obama and mitt romney promised 250,000 plus when they were running for reelection. what's more the recent job gains we're seeing is largely from the private sector. private companies, health care
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and even construction. that's always a healthy sign of recovery. the unemployment rate which you know i don't like talking about remained unchanged, 6.7%, that was because americans felt confident enough to seek work last month and that pushed up the labor force participation rate by 2/10 of a percent. the labor force participation is the percentage of people of working age who are available to work. you can't be in jail, for instance. the percentage of all people available to work who either had a job or who are actively seeking a job over the last four weeks. so the unemployment rate is no lower but the more meaningful number here to watch is the uptick we've seen in the size of the workforce this last month. it's not all rosy. fed chief janet yellen said, we
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found confirmation of that in friday's report. 7.5 million workers don't feel very lucky baw because they are forced to take part time work instead of full time. the problem is that more than a third of the unemployed, 3.7 million, have been out of work for six months or more. i talked to labor secretary tom perez and he told me one of the ways the labor department is facing this is to talk to the trained job workers in the jobs people really need. community college and community training taacct or tact for short. >> everything we do has to be demand-driven and by that i mean people who are partners who are putting grants forth, have to make sure that we are training
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people for occupations that are in demand. and what this program has done is catalyze partnerships between the country, community colleges, employers, job seekers, other nonprofits, and that's what the taacct program, albeit a horrible acronym does for them. >> every citizen gets one vote in america but now the very rich get something else, the chance to spend huge amounts of money on political campaigns. the supreme court on a decision struck down the overall amount an individual the contribute. it's capped at $2600 per candidate, but the ruling says americans now have the right to donate that maximum contribution to as many candidates, parties and political action committees as they want.
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so there's nothing to stop some of america's top political donors like larry ellison and steven spielberg from each spending millions on this year's campaigns. the one silver hiens is they will have -- lining is they have to report it to the federal elections commission. lisa rosenberg speaks. >> we will have a bifurcated system. the secret donors will use those 501 (c) 4 organizations who will funnel millions or billions of dollars anonymously into our air waves. meanwhile we'll have just a handful of individuals, maybe a thousand individuals, who can and will give a million dollar or $2 million check to the political candidates. we'll have more money and more
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pressure to raise money. meanwhile the vast, vast majority of us will have our voices completely drown out by all of this money. we're going to be buried under this money. >> but when you walk out on the street most people think their voices are drown out except every couple of years when they're asked to vote. i'm not belittling that, that's major, will it have any practical effect? >> it is major, it will have a practical effect in exacerbating the cynicism that we're all feeling. depress those small donors who have had a small effect, $25, $50 contributions, why do they bother to give when one individual can write a $1 million check? it is very, very bad for address. >> the sunlight organization
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advocate for punl sized online within 48 hours, tell me how you think that would help. >> we have just had a bill introduced from senator cane from maine and expect to have one from congressman o'rourke next week. the supreme court struck down the last pillar, or almost the last pillar of our campaign finance reform system. it struck down contribution limits today. all that is left of our campaign finance reform system is disclosure. so we need to enhance disclosure to make sure that the public does have access to that information, in real time. before there's a vote. before there's an election. so that they can at least do whatever is within their means to counteract that, counteract that contribution, whether that means you know, bringing together a lot of people, to make more contributions, smaller contributions, whether it means
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lobbying, whether it mines flooding the members of congress office with phone calls, whatever it is to try to combat that large contribution. if the members of congress knows within conditions who is getting them a million dollar check their constituents should too. >> lisa, thank you. more than 7 million people signed up for health insurance under obama. that's what the administration hoped for. not many thought that would happen back in october with all those problems but after the march 31st signup deadline last week president obama got to say the health care law is here to stay. if you missed that deadline there may still be time for you. the government is giving people who had website problems a few extra weeks to sign up for health plans. for all the changes happening under obamacare, there is a shift underway, those of us who get covered through work are increasingly getting pushed into
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these private exchanges. as health care costs soar aksenk cenak accenture set: >> one part of the it is employers saying to worker heeshes your chance of health plans. if you want a good health plan you can pay more money. if you want an average health plan you can get it cheaper. putting that decision onto individuals. but that could result in shift of cost to individuals. we have to understand that in the context of job based
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coverage has been falling by a%% sent point a year. and we've seen a significant shift over this period of greater cost for individuals. higher premiums, could-pays and deductibles. >> there are a lot of advanced economies, canada, northern europe and much of western europe where it is a sing payor system -- single payor system. nobody gets their insurance through their employer. as more people share the system does it bring the cost of health care lower, or are workers just going to pay more of their health care in the next few years? >> well i'd say overall if we look at the rest of the world there are quite a few different forms of health care. and how health care is financed from a single payor system in canada to very different systems say in germany and the nernld ns
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annetherlands and france. >> if we look out five years or ten years, is the idea of going to work for the company because of the benefits they offer you? is that going to be a smaller part of one's decision? >> i think it is going to be a smaller part. i mean overall because health care costs have gone up so sharply in the united states and we're seeing this push back and shift in costs something is going to have to gin give in terms of saving on health care cost. either we'll see an increasing cost.onto individuals and that will be less of what people look for in a job or we'll see a better effort to change how we're financing health care, change our delivery system, we save more money. >> ken jacobs is the chair of u.c. berkeley center of labor and education.
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ariana huffington, angry lawmakers talking about a criminal coverup, that story and more as "real money" continues. keep it right here. google and the world brain >> it would be the worlds greatest library, under one digital roof. but at what cost? >> google could hold the whole word hostage... google and the world brain only on aljazeera ameria
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>> start with one issue ad guests on all sides of the debate. and a host willing to ask the tough questions and you'll get... the inside story ray suarez hosts inside story weekdays at 5pm et / 2pm pt only on al jazeera america >> the recall mess plaguing general motors is just the latest chapter in a story that spans more than a century. i'll get to mary barra's heated
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congressional testimony in just a second. but at its peak in 1979 general motors employed more than 618,000 people making it the largest private employer in the united states. competition from japan and then bankruptcy and other head winds have far reduced gm' gm's size d important but as mary barra reports, it still is important to consumers. >> general motors quickly expanded gobbling up competitors like oldsmobile, pontiac and cad cadillac. in 1962, it gobbled up the majority of the market. numbers were in decline long before gm filed for bankruptcy in june 2009.
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prompting a 49.5 billion taxpayer bailout. the company that emerged may be smaller and leaner but make no mistake: gm remains a powerful force in the global economy. it employs 219,000 workers and a network of 4500 dealers worldwide. with 70% of sales now coming from outside the u.s. in china, brazil, u.k. and germany, gm brought in revenues of $154.2 billion in 2013. and its stock remains widely peld with -- hell with nearly a thousand institutional investors, banks and insurance companies, in short bad news for gm to expel bad news for millions -- spell bad news for millions around the world. mary snowy, al jazeera. >> we have hired tony lucas,
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that's what gm exec mary barra said time after time. the next day the senate panel pushed that conversation much further, raising the issue of criminal liability for failure to act. a gm engineer named ray de georgio, requested in terms of a georgia woman killed in a chevy co-bald accident in 2010. he said he never signed off on changes of the ignition. but senator claire mccaskell held up papers that said he approved of the change. >> has mr. de georgio been fired? >> as i return to the office we
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will look at the people implications. >> he has not been fired? >> no he has not. >> have there been any instances where gm is actually changing a part and fixing a defect and keeps the part number the same? because this -- this, to me, is not a matter of acceptibilty, this is criminal deception. >> i am not aware of any and it is not an appropriate practice to do. it is not acceptable. >> i am very disappointed really as a woman, to woman, i am very disappointed because the culture that you are representing here today is a culture of the status quo. >> the more i hear and see in the these documents the more i learn about what happened before the rye organization, and in connection with the reorganization the more convinced i am that gm has a real exposure to criminal
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liability. >> the senate isn't buying mary barra's apology and neither heidi moore. heidi joined me after the senate hearing on wednesday. >> the senate came out swinging against gm. i mean they really were working as advocates of the american people and very clear about that. what clear is bloomenthal has experience with former -- he was an ag of connecticut. >> a fairly aggressive one of connecticut. >> yes, he specifically tried to get gm to stop avoiding liability for car crashes. to so gm in its bankruptcy managed to push to avoid liability for any crash happening before 2009. so if anyone died in a crash of a gm car before 2009 they couldn't sue the company. >> because of the bankruptcy. >> because of the bankruptcy. >> right. >> and in 2009 bloomenthal was
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one advocating with eight other attorneys general for this. >> at this opinion i almost worry about the hiebility, this is a big -- liability, this is a big company and has a lot of money. i'm wondering that the financial responsibility is not that horrible but gm is not looking that good. >> the size of the monetary liability and bloomenthal for instance has suggested a fund for victims between $3 billion and $8 billion which actually seems small considering the scope of what we're talking about. a 6 million vehicle recall, 13 deaths that we know about and the investigation isn't even over and there could be collateral deaths from the basic ignition switch not working and that causing air bags not to work, there are issues with transmission lines, with power steering, it is really vast and goes across the whole landscape
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of auto manufacturing. you can't believe that we know the complete scale of what's going on at gm and if the scale is anything like one could package, it would go far above 3 or $8 billion. >> there have been other recalls that we look at toyota in the breaks, we look at ford and the broncos and the bridge stone firestone. this all look hard when we see them but we get past them. but there is a culture of confidence. people try to tell you this is a new gm and it is unclear it is. >> it is totally imapplaus imim. to wake up one day and turn over a new leaf because of this crisis, you could tell from barra's testimony that that wasn't going to happen. she was really reluctant to hold the old gm fully responsible for what happened. and as you know they're not going to be able to move forward until they decide that what happened in the past was really
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wrong. >> heidi good to see you. heidi moo moore, moore@hn. >> ariana huffington explains what a bad accident helped her describe what she calls the third metric.
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>> arian ah huffington, sold her newspaper to america online for $350 billion. with 90 million global visitors a month, so when it comes to money and power ariana huffington knows what she's talking about. but her latest book called thrive makes the case that in addition to money and power a successful life needs something else, something she calls the third metric. i asked her how this all came about. >> on april 6th, 2007 i collapsed from exhaustion, two years after founding the huffington post and literally there i was coming to in a pool of blood beginning to ask myself
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the question, is this sucss? you know, because if we define success by the conventional terms of money and power, i'm successful but if we define success by any sane definition, lying in a pool of blood is not success. >> being all over the world on planes sounds like success to a lot of people. >> exactly. and that is really why i wrote the book. it is part of my personal join but more to the point, i -- adjourn but i see the collective -- journey for the sake of businesses. to realize that this is a collective delusion, that in order for a business to succeed we need to actually work 24/7. you know ali people are praised nona corporation for working 24/7. the language we are using is a language of war which often
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makes it very hard for us to take care of our well-being. that is why this third metric activities of four pillars, our well-being, if we sacrifice our health clearly not worth it. wisdom, you see so many leaders in business and politics making terrible decisions. instead of they are not smart and not wise and then our ability to bring joy and wonder into our lives and to make giving into our lives. >> you and i have had this conversation elsewhere and you mentioned we should all trade in our phones which i use as my alarm clock. because i use my phone as my alarm clock it has to live near my bed. you can't use the excuse to use your phone to wake up. >> i have a lot of scientific evidence if you wake up in the middle of the night and look at your data, your clean is not as
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re-- sleep is not as recharging. this is one of the tips in the book. at the end of each section i have three little tips because my hope is that people are not just going to agree with me, but make little microscopic changes in their lives. that will make them thrive and not just succeed. >> but our bosses have to change. in other words we have to -- how do you manage this? can you come in one day and say hey, i read the book, i'm going to take it easy and get twice as much sleep as i normally do and somehow my boss thinks he's going to suffer. >> first of all i'm not saying don't be responsible, don't get the job done. very often when we actually are recharged, we get the job done faster and better. i know in my own life i've been much more effective since my collapse when i prioritize getting enough sleep and recharging. because you know we pay people for the judgment, not the stamina. >> did you know you were exhausted before you collapsed
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from exhaustion? you had to reprogram yourself. >> that is fascinating that question because i'd been on book tour and i hear from a lot of people the same thing that i felt. which is i don't remember the last time i wasn't tired. so we kind of don't even remember what it's like to be completely recharged. you know and ready to go. which is when i had my best ideas. and i quote now a lot of ceos, a lot of people who i admire including steve jobs and ray dalia, ceo of bridgewater who meditate. who create some quiet times in their life. prayer, contemplation, fly fishing when you're not tethered to your smartphone where we often get our best ideas. >> i'm going to try it. i said it last time we were together, i'm going to try it.
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this time iements going to. ariana huffington is president and editor in chief of the huffington group. author of thrive. the week ahead is a busy one on this show. i'm heading to washington where issues affecting the global economy and policies to proat promote global equality will be front and center. these institutions are ton front line of promoting economic stability and global development. i'll speak with world bank president jim young kim and christine la garde. climate change, the challenges as iing the global middle class and slowing global growth. i'll cover all these topics with kim and la garde. 7 p.m. eastern time, 4:00 pacific. on "real money."
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i'm ali velshi. havthanks for joining us. have a graik weekend. -- great weekend. >> welcome to the news hour in dohh the world's top news stories. riots at jordan's biggest refugee camp, police fire tear gas and one person is killed. >> large parts of ben gassy have come to a standstill because of a