Skip to main content

tv   Real Money With Ali Velshi  Al Jazeera  October 25, 2014 5:00am-6:01am EDT

5:00 am
>> unscripted... >> we gonna do this? >> ...and uncensored... >> are you kidding me? >> america votes 2014 midterms the series continues only on al jazeera america drug makers are fast tracking trials of ebola vaccine, but here is the problem. we don't know if they'll work and we don't know if they are safe. we'll tell you how that could create an extensive legal hurdle. also homeownership might be the american dream, but getting a mortgage, could be a nightmare. we'll look at whether new easier lending rules could change that. plus forget the 40-hour 5-day grindmen. the 4-day work work is just what workers and bosses need to
5:01 am
succeed. i am in for ali velshi and this is "real money." ♪ ♪ the race to develop a vaccine for ebola is finally shifting in to high gear. we learned today that global drug manufacturers have committed to producing millions of vaccine doses in 2015. hundreds of thousands should be ready by the first half of the year. we are going to explore how big of a challenge that will be both lodge it's lodge us lick atlogistically an. a day after fears in america spiked after a doctor tested positive for the virus right here in new york city. today we learned that dr. craig spencer is in stable condition in an isolation unit at bellevue hospital. he had been treating ebola patient in guinea. in maryland, mean mile, nina pham was leased from the
5:02 am
national institute of health after being declare ebola free. she later met with president obama at the white house. she had treated thomas eric duncan the liberian man who died of ebola in dallas. earlier in washington lawmakers held another hearing on the u.s. response to ebola and no surprise politics reared its ugly head. republicans criticized president obama's choice for the ebola czar, who is not a medical professional. he was not at the hearing. the really bola crisis is taking place in west africa where the virus has killed more than 4800 people. and that's where the world health organization says vaccines may be test odd healthcare workers and others at high-risk as soon as this december. health officials hope to run clinical trials if liberia, sierra leone and guinea and have results by around april. this week the head of british drug maker glaxo smith kline said we are literally doing in maybe five or six months would
5:03 am
normally take five or six years. of course, developing, testing and distributing new vaccines will cost billions of dollars and that doesn't count the cost of giving drug makers legal protection in case the accelerated timetable puts people treated with vaccines at risk. mary know has the story. >> reporter: racing to stop ebola from spreading, the world health organization says trials of ebola vaccines could begin as early as december in western africa nations most effected by the end di deposit i epidemic. >> they may not be a manage it's bullet may be a good part of the part of turning the tide in this epidemic. >> reporter: there are many ifs including how safe they will be and will they be effective? one experience. van seen by glaxo smith kline and new link working with canada. are the most advanced and starting human trials.
5:04 am
the next is to testify them in thousands of volunteers in liberia, sierra leone and guinea. five other experimental vaccines are in the pipeline including one by johnson and johnson which is looking to begin trials at the start of 2015. all of it being fast tracked because no ebola vaccine exists. >> the incentive for a pharmaceutical company to get involved in putting a major investment to develop a vaccine for a disease that up until this outbreak had less than 2500 people infected, we did not have the kind incentive saying on the part of industry, we certainly have that now. >> reporter: now johnson and johnson says it's talking with competitors on collaborate to go ramp up production, money to fight ebola is coming in from a wide range of sources from governments to cherries the e.u. is the latest to pledge $1.2 billion. but before drug companies proceed they want legal
5:05 am
protection if there are adverse reaction to his vaccines. >> i do not think that a big, global pharmaceutical company will proceed with vaccine trials in thousands of patients without some form of indemnification. >> reporter: the world health organization says a possible fund could be created to indemnify pharmaceutical companies. but the question is, will it be enough? >> i don't think a fund is going to be large enough to indemnify them. i think it will require legislative changes in all of the countries involved in order to indemnify these companies against these kinds of risks. >> reporter: still experts say the cost of doing nothing is a greater risk. mary snow, al jazerra. >> with me now is jack child a former u.s. ambassador on global health and a former world health organization assistant director general on infectious diseases, he says the fight against ebola needs to be like mobilizing from nomady invasion of world war ii
5:06 am
and that we need to pull out all the stops and take some big risks if they are going to get ahead of ebola and bring the epidemic under control. jack thank so much for joining us, i want to start with this world health organization. this announcement coming out today about a million doses of this bola vaccine that could be available in 2015. it's going to cost a lot of money to get it done of the where will the money come from? >> that will be one of the primary challenges in building out the response. architecture, the first front is treatment, getting people in to care, the secretar second frontn tiff front where vac see vaccines come in. the decision that his normally take many years will be compressed in to a few months. the welcome contribution by the even u. to the tune of a billion dollars is a foundation. next is trying to design a structure that would allow the
5:07 am
vac others to be implemented at the country level as well as to alert the risk for litigation. >> so you talk about the billion dollars, and that's the foundation, but when you look at the structure, where do you see the rest of the money coming? and are you confident that we are going to have the financial resources to deliver on this number of racks seens in such a short period of time? because it's going to be quite costly. >> yeah. there are two primary options, one is to draw contributions that were given for the general campaign against ebola. or two, haves a special appeal, specifically for the vaccine. and there might even be a third hybrid option which is a combination but to have waivers for the individuals who agree to take the medicine, agree not to pursue legal action in case of adverse consequences. >> so not only is it complicated if figure out the money part of it, but just the coordination
5:08 am
between the world health organization. the insurance companies. you have various governments involved. you have pharmaceutical companies, who takes charge of making this all happen? who will run the show? you had the analogy of the nomady invasion. so who runs the show? >> well, the organizing authority in this case is the world health organization. it is a union of health ministers. it has stature in the three countries that are heavily affected. they do a lot of the bringing in of experts and negotiating. so they are experienced in crafting a response framework that includes the private sector, that includes the implementers on the ground. so i would project that w.h.o. would take the lead on getting the parties together. >> so vaccines are important, we have talked about treatments as well. i want to talk to you, though, about rapid diagnostic testing real quick. why is that so important to have a rapid test? >> well work as it currently stands a person is sick with
5:09 am
symptoms of ebola goes in to the clinic and it is very difficult to sort out who really has the virus, and who may have another illness. and in these clinics in liberia, there are people basically herded together, both ebola patients and nonebola patients and that presents a risk. if you were to have a rapid diagnostic test, say a test that act like a home pregnancy test, that quick, they could sort out who has ebola and who doesn't very quickly. and it would simplify the treatment process and get the care to the ebola patients as soon as possible. >> also i imagine it would make everything easier at the airports. jack chow joining us this evening from washington, d.c. thank you so much. >> you are welcome. well, the government is trying to give the housing market a shot in the arm by making mortgages easier to get. but there is a good chance it went work. we'll tell you why coming up. plus christmas in october.
5:10 am
see how one middle class business owner is basing her strategy on it. you are watching "real money." tell me what is on your mind by tweeting at ali velshi also fate book d .com/alisrel-y. >> these people have decided that today they will be arrested >> i know that i'm being surveilled >> people are not getting the care that they need >> this is a crime against humanity >> hands up! >> don't shoot! >> hands up! >> don't shoot! >> what do we want? justice! >> when do we want it? >> now! >> they are running towards base... >>...explosions going off we're not quite sure... >> fault lines al jazeera america's emmy winning, investigative, documentary, series...
5:11 am
>> america votes 2014 >> the race is still a dead heat >> filmmaker aj schack turns his camera towards elections in the swing states
5:12 am
>> it shows you who these people are... in ways that you don't get to see from the short appearances >> unconventional... >> if i can drink this... i don't see why you should be able to smoke that... >> unscripted... >> we gonna do this? >> ...and uncensored... >> are you kidding me? >> america votes 2014 midterms the series continues only on al jazeera america the housing market remains in a holding pattern. sales of new homes edged up slightly in september, a mere .2 of 1%, that's the good news. the bad news that increase reflects a sharp downward we vision in summer sells. august sells reduced by 38,000. the pace of sells for newly built omahas increased 1.7% so far this year compared to 2013. housing has struggled to fully rebound since the recession
5:13 am
ended more than five years ago. one reason for that is the door to the american dream of homeownership still has a big lock on it. if you don't have strong credit and a big down payment, you don't get a key and you don't get a mortgage. and that's a big problem for an economy that depends on middle class americans buying homes and spending money to put stuff in them. this week we got more evidence that incredibly low mortgage rates are not helping first-time home buyers step up and buy homes. applications for mortgages rose about 12% last week. from the week before. but that's all from people refinancing existing mortgages. refy applications jumped 23% to the highest level in nearly a year. applications from people actually using a mortgage to buy a new home fell 5%. this is consistent with lots of other data showing that many first-time home buyers are being shutout of a market where bangs are are saying know to anyone
5:14 am
with a credit score lower than about 740. this week federal regulators clarified finance rules designed to get more credit flowing to more people who want to buy homes. some critics say they went too far. by letting banks sell loans to investors that are too risky without retaining a stake in the loans, there's critics wanted regulators to require some borrowers to make big down payments that, didn't happen. meanwhile, other housing analyst says say credit is not the biggest problem holding back the market. they say, it's a lack of demand . now the story. >> reporter: the feds ever so slightly loosens their grips on banks this week giving lenders more freedom and encouraging them to issue loans with only 3% do you believe at a mortgage bankers convention, federal housing finance agency director melvin watt said we know this has correct today credit overlays driving up the cost of lends and being restrict lend to
5:15 am
go poor owers with% than perfect credit scores or less convention financial situations. credit and demand are the two drivers. expert say the real i can is you weak demand. and the stats are sobering. new home sales performed better in the third quarter of 2014 than they have since the end of 2013. but they are still at recession levels. nearly 300,000 fewer fha loans were issued in the 12 months ending june in year compared to 2013. and the mortgage bankers association expects total lending for home purchases will fall 13.5% this year. mortgage banker and author of mortgage 101 david reed says the new rules don't make it cheap fore people to buy than rents because the less a buyer puts down the more private mortgage insurance he must pay. >> borrowers today if they want
5:16 am
a 5% down payment or 3 1/2% fha it's a toss up on which is better. i a think not quite sure that lowering the payment from 5% down to 3% down is going to help. >> reporter: the new rules also don't address root causes of diminished demands from homeownership. stagnant middle class wages along with a rise in part-time and free-lance jobs. banks generally don't consider these types of workers quality applicants and often reject them. >> the quality of loans in today's market, and it has been for the past couple of years, is probably the highest quality of mortgage loaned funded in the history of the program. credit scores are much higher. >> reporter: and finally, with first-time buyers still less than 30% of the market, wealth the appetite for homeownership may require more than lower down payments. al jazerra. our next guest is skeptical the government's attempt to loosen credit will result in more loans and therefore more home purchases. darren blum quist is the vice president of really track and joins us now.
5:17 am
so why are you skeptical? why don't you think it could lead to a total boom in the housing market in. >> i think the propose is about down payments, lowering down payments so people lowering that hurdle to get in to homeownership. but the products are already out there that they are proposing. they are prosing a property that allows people to make a 3% down payment and that's with fanny and freddy loans but that's already out there with the fha loans that we have. >> people are not using them now? >> people are not using them n our data we show the first 12 months ending in june of 2014, those fha loan originations were down 21% from the same time period a year ago. >> so is this more an issue then of demand and of affordability and of people actually being able to buy a home? >> it is. yeah, i think they hit the nail on the head there, that demands is weak. i think one of the reasons demands is weak is because of affordability. people can't afford homes anymore. it's kind of a surprise.
5:18 am
and not just in the coastal markets that you would expect, places like san francisco or new york, or miami even. but in some of the middle america markets, austin, texas is pretty unaffordable. full tonight county in atlanta, georgia. places like that, sacramento, which is inland, california has typically been much more affordable, are -- the median incomes there are less than the minimum income needed to buy a home. if you lower the down payment, that helps with the down payment, but it actually makes it less affordable to make that mortgage payment because you are paying more per month. >> so what can be done? it seems like there are a couple of options here. everybody's income could go up. the prices could go down. there is not a lot of room to move on interest rates, though. so what do you see when you look at the data, what do you think will happen? >> i think the best case scenario is prices will kind of stagnate for a while. until we figure out what is going to happen. balls there really are two options the federal reverse has
5:19 am
played their cards on the table. they have used -- they have pulled autopsy the levels that they can in terms of lowering interest rates. so incomes can come up and i think hopefully that will eventually happen. but probably not any time soon. prices could go down as a worst case scenario we could see another dip i think a more likely scenario is we'll see more of a plateau in home prices at this point going forward. >> what do you think is going with sort of the pendulum of regulation right now? so, you know, you have been to this dance before, and have seen what happened. and it seems like credit was pretty loose and then got tight and now here we are again, you know, the risk retention rules, credit standards loosening do you think we are going too far for the other side now? >> a lot people say that but i just don't buy it. i would rather be in the situation where people are complaining about credit being too tight. because i saw what we went through in the last 10 years when credit was too loose and the results of that. i think the consequences of
5:20 am
credit being too tight are somewhat painful, but not disastrous like we saw when credit was too loose. >> gotta find the sweet spot. all right, darren is a v.p. with realty track joining us in the studio tonight. thanks so much. >> thank you. isolated by the west, vladimir putin is pivoting east, we'll look at the deepening trade ties between rauch and china coming up. plus a gdp smack down, you'll see what i mean just ahead. federal authorities have charged seven people with conspiring with al qaeda. >> since 9/11 the us has spent has spent billions of dollars on domestic counter-terrorism operations. >> i wanted to be in on the big game and to be paid top-dollar for it. that's it. >> many of these involved targeted informant led stings. >> to them, everyone in the muslim community is a potential informant or a potential terrorist.
5:21 am
the economy is something
5:22 am
that matters to nearly every american. but millions of people don't really understand how it works or how it affects them. 20 award-winning directors working with economic experts set out to change that much they are explaining significant economic issues using short films that address topics like what is the economy? how does the government regulate the economy? and why is healthcare so expensive. adam davidson is the co-host of the popular npr podcast planet money and served as a an adviser on the project, he joins me now. >> hi. >> hopefully to answer some of those questions but you do a good job at breaking things down thor complicated and making them simple for people to understand. in these little films you have done it using alpacas talking about pay and equality. a dance troop explaining the recession, whew does that work? or does it work? >> i think it works, yeah. what morgan spurlock and the
5:23 am
spokes that produced the series is take people like me sort of the geeks deeply involved in economics and financial news and partnered us with very creative movie makers, like adam mckay who wrote and directed anchor man. >> talladega nights, a will farrell partner. >> exactly. and lots of other really creative and exciting director . a dance explain supply and demands economics. it's fun having sort of the economic geeks and the creative hollywood folks brainstorm asking trying to figure out how do we bring these complex issues to life for a good audience. >> you did team up for adam mckay, works with will farrell, anchor man and talladega nights and one their other parts chris that directed this one that i want to take a look at about gdp. so let's take a quick look. >> holy checks and balances. it'sal m. joseph meehan the assistant chief of the department of economic research
5:24 am
at the u.s. commerce department from parts unknown. >> you have a lot of fancy theories, friends, you can't run a country on theories. >> i can tell you exactly how much industrial was produced in the last year, how much it sold for. how much workers it took to make it . >> but how many dollars in a smile? >> you are in a fantasy world, man, it's neverland and you are an ass. yeah! >> there might not be a precise dollar for liberty and justice, but if we don't include these in economic statistic goes then we are saying all that stuff is worth nothing, brother. america, can you hear me! >> it's a family show but trying to address a very important issue. this little film end talking about things that we don't have in gdp. no marriages.
5:25 am
and how you feel about your job. or your community or friends. can you explain that a little bit. why you decided to make this the debate? sure, i had a wonderful dinner with adam and chris where i sort of laid out to them this very intellectual history of idea of measuring the economy, we use gdp but anyway of measuring the overall economy is a relatively new idea. a lot of economists feel it's an insufficient number, it measures -- >> just numbers. >> just numbers. >> all these numbers. >> it doesn't capture other things that are of value like natural resources, like freedom, like education . there are all sorts of important things that i think we value that aren't in that measure. i have laid out this very intellectual history and ahead adam mckay said i see wrestlers i see having economists wrestling and battle it out. it was so much fun back and forth writing with them bringing the ideas and fun to life.
5:26 am
>> i love that, i see wrestlers. everyone can see wrestlers if you go and watch this again, we the economy, adam davidson the co-host of npr's planet money. >> thank you so much. >> thank you so much. >> for come by and talking to us about this. >> thank you. >> it's definitely a fun watch. it's time now to check in with one of the families we have been following throughout the year as part of our series america's middle class rebuilding the dream. tonight we get an update from jody the owner of a knoxville, tennessee gift shop she took a gamble when she moved her struggling store to a different area in knoxville this years she's working furiously to improve sales as she heads in to the season. i have had a good week, paid innie voices hasn't paid myself. still in the same position i was in the old low characters the store is paying for itself. but not paying me. my goal this week is to finish up the christmas decorating in the store. it's really interesting to see
5:27 am
the reaction of what people say about the store being decorated for christmas already. and i had heard some people just not ready to see christmas until after thanksgiving. but the sooner i get it out, the more of an opportunity i have to sale it. and it's very important that i have all of my christmas decorating done by october 1st so that i have the whole month of october and november to sale the merchandise because the bill comes due on december 1st. the rhythm of the scor store ist i order christmas in january and it arrives in july and then i pay for it in december. i have sold some christmas soap today. and i am feeling optimistic again about the store. i had to close for valentine's day this year because there was a bad snow. and then i missed easter and i missed mother's debuts of the move. and i think the summer just
5:28 am
really got me down. so i really haven't had any holiday to speak of to sustain me. gifts is what i do. i am going to have more of a feel for whether i have made the right choice or not by moving the store this christmas. i'll know more. this year is about rebuilding and next year is about growth. >> next year we will -- next week we'll hear from another family after years of financial strain affecting their marriage, the long island couple was unsure of how or even if they would celebrate their 25th wedding anniversary taking place this month. up next, western sanctions have damaged russia's economy and now president vladimir putin is cozying up to china. should the united states be concerned? that and more when "real money" returns, keep it here.
5:29 am
5:30 am
russia and its investors are breathing a little easier today. thethere was heavy speculation a that standard & poor's would down great the debt to junk status. but snp instead kept the debt one notch above that potentially damaging rating. that's not exactly a ringing endorsement of russia's debt. s & p still says it could force it to lower the rating in the next 18 months, as with we have reported many times on the show russia's economy was in trouble before the crisis in ukraine erupted and western sanctions against russian defense, finance and energy firms have made a bad situation worse. but western moves to isolate russia economically have spurred moscow to accelerate its
5:31 am
deal-making with bay jinx. patricia explains how moscow has moved near to china's orbit. >> reporter: pictures of a pivot gaining pace. earlier this month, russia and china struck more than three dozens energy, trade and finance agreements the latest evidence that moscow's eastern end run around western sanctions is on the fast track. >> the ukraine crisis has certainly started to lay the groundwork for a more robust russia, china, relationship. especially in the energy arena. >> reporter: in may, some two months after the west initiate the economic sanctions against moscow, russia and china reached a landmark 30 year, $400 billion gas deem. over a decade in the making, the pack secured energy-hungry china a steady fuel supply while opening a growing gas market to russia at a time when the west is trying to isolate it economically. moves to starve russia of development finance have also
5:32 am
seen moscow overcome a long-standing aversion to giving china a stake in extra edge i can russian industries. >> we have zone moreover trues from the russian to his the chinese, we have seen an invitation for a chinese company to participate in the bank or oil field which is one of the crown jewels of eastern siberia. and we have also seen the russians talking to the chinese about constructing a second natural gas pipeline from russia to china. >> reporter: taking aim at u.s. dollar is you supreme circumstance china and russia have also laid the groundwork to boots trade in their national currencies. a convergence of objectives mirrored in public opinion. a recent survey found the percentage of chinese viewing russia favorably is 66%. a 16% increase over last year. long before ukraine erupted, moscow and beijing recognized the closer ties could aid their individual ambitions. but the barrage of energy and finance deals on the heels of western sanctions begs the
5:33 am
question, could the tactical partnership between these two large powers blossom in to a formal alliance? >> these two countries still have plenty that divides them and in any sort of formal military alliance that could be mentioned in the same breath as nato, to me does not seem feasible right now. >> reporter: still the council on foreign relations jennifer harris cautions against western complacency. >> as history has told us time and time again, relationship even of a tactical sort can smile out of control and end up in what we saw, you know, in at least world war i. >> reporter: but as long as beijing and moscow find mutual benefits in working together, relations between these two powers are bound to only grow deeper. patricia, al jazerra. for more on russia's courtship of china we turn to al jazerra also fill ittner in london, you saw in the piece, few expect this tactical
5:34 am
relationship to morph for some some full-blown, russia-china alliance, a but that said, how does it compliment things for the west? >> well, it complicates things for the west in a number of areas. the closer those two major countries come together. whether it be tactical or financial, economic, it means that there will be a stronger block to counterbalance the western block. and many are saying that's really what all of these new deals are intended as. of course we also have to keep in to consideration that right now in the immediate term, the west is trying to sanction russia any output that russia has for an economic escape plan, if it is out to china, means it's going to be tougher for the west to make those sanctions be felt. >> can elaborate on that a little bit. how much do we know, to what degree can china fill
5:35 am
the hole created by the sanctions against russia. >> it's interesting that you ask that, it's one of the things that delayed the signing of this massive, multi billion dollars agreement. is that china wanted to pay a lesser rate than what russia was getting from western and european nations. so china wasn't going to go for that. so, you know, there are definitely some things that are -- some hurdles there, but, you know, this is clearly a sign from the putin kremlin that they are looking for options away from western countries. >> what about territorial claims, do you think that any deepening of this relationship could strengthen china's territorterritorial claims in south china and the east china seize? >> well, you know, the strongest a friend ship that builds between russia and china the more likely tell stand in one another's corner. whether or not that's at the u.n. security council or in other
5:36 am
areas . that is naturally a concern. it's interesting you mentioned southeast asia and the sea coast there, pacific rim coast, because one of the other ways that russia and china are collaborating is that russia is now increasing its military technological relationship with china, selling in one area in particular, submarine technology. and that has many western military leaders taking very close heed. >> so just like in any good friendship or marriage, it can't all be good. so where do the interests of china and russia die verge? >> well, firstly there is history . the soviet union and china fought all war in the latter part of the 20th century being but putin said in his speech in ssochi today that those are matters from the past. having said that there are still
5:37 am
some major outlying areas that are potential difficulties for that relationship, not the least of which is the central of central asia. that's pakistan, kyrgyzstan, those stan nations that are north of afghanistan. now, russia still sees those as part of its sphere of influence from the old soviet union days. china is increasingly making inroads in to that area and that is -- it has caused problems in the past and if china really does try to move in to the central asian nations, moscow is unlikely to take kind. >> i phil ittner for us in london. thanks to staying up. over the past few months, 10s of thousands of people have taken to hong kong streets calling for changes to the system use today elect the territory's next leader, here on "real money" we have explored various aspects of the protests, but tonight an al jazerra series people in power, hong kong occupy central. goes behind the screened to the root of the conflict explaining its origins.
5:38 am
take a look. >> spearheaded by students and supported by veteran activists, the pro test pits hong kongers against a formidably adversary, the chinese government. ♪ ♪ >> amid heightened tensions and soaring rhetoric, hope and fear. how will beijing react? >> history is full of examples, you just development know how a thing end. it could be glorious, it could be terrible. >> that was a look at al jazerra's two-part series, people in power, hong kong occupy central. to catch the rest, tune in tonight at 10:00 p.m. eastern time, 7:00 p.m. pacific here on al jazerra america. up next, there is a lot of buzz about electric cars but
5:39 am
they still haven't taken off yet. we'll hear from nissan's chairman about why consumers aren't charged up about them. plus companies attracting employees with shorter wok weeks, we'll look at the growing trend of the four-day workweek. that with us.
5:40 am
5:41 am
ford motor remains in cruise control. the automaker made $833 million in the july through september period. that was down 34% from last year, but the company still expects to meet its full year profit goal. part of the decline this quarter was blame are blamed on recall costs. the company putting a lot of money in nba to introducing an aluminum body f-150 pickup a key
5:42 am
profit driver. carlos the chairman and ceo of the nissan alliance spoke to ali velshi about potential growth. ale hear about that in a minute but first a look at why electric cars haven't taken off he said it's the lack of supporting infrastructure. >> the establishing between any other nissan car is with the electric car, technically it will be a successful where we are having a problem is the sales. and one of the reasons for which we have less sells than we were hoping for or forecasting, is due to the fact that a lot of people would love to by an electric karas long as they don't see the charging inning from structure cher waiting. autonomy is not enough. where will i charge my car? as long as i don't have an answer will not be buying it. we are being held by governments, china, franz, u.k., u.s., all are -- japan obviously
5:43 am
are moving in to support zero emission transportation. and not only supporting financially for the consumer but also to developing the charging centers, i am very optimistic about the future of electric car and zero emission we have to be more patient because unless the consumers see a little bit more pricing down on the car from one side, which is normal in a new technology, but at the same time an innin infrastructure that mam feel good about the fact that he can go anywhere and charge in a reasonable period of time this is where the cake off will cake place. >> you are happy you went for a full electric car not a hybrid? so. >> , yeah, no doubt about it. there is a big place for zero emission cars not hybrids. besides hybrids, besides cass lean engining, besides diesel engine, besides all the other technologies this will not be a substitution
5:44 am
. this will be specific for countries that will be particularly privileging the zero emission like in my opinion, kind is is going. >> let's talk about an autonomous cashing a driverless car, you said you will have one. are you still looking forward to that? >> we are looking forward. this is coming from a very simple observation. when you today interrogate consumers, young consumers about what do you want for the future. there are two things a tracking our attention. they are saying they want more time available in general. and second we want more pleasant time so many when you take a look at that, okay, i want more time available, i want more pleasant time. what as a car manufacturer can i do to go in this direction? people spends on earth, an average two hours in their car every day. this is not two out of 24 hours, this is two out of 16 hours,
5:45 am
because most people sleep on average eight hours, it's a huge amount of time. during this time, there is nothing that you can do. so if you can free some of this time, make time more available. and connect the car. >> let's talk about emerging markets, we often talk about this, north america and europe are still mature markets. you are hoping to get to a point where you were at and maybe get some marginal increase in america. you are hoping to get back to where you were at in europe and maybe get some marginal increase, but the real, the real energy, is in other places. let's talk about how you are looking at india and china and russia, and other places. >> yeah. well, you know, we didn't change. obviously we still believe that. even though as you know in the merging markets it's never linear every year you don't get a 7 or 8% increase, you have from time to time crisis, you'll have recoveries, you'll have two
5:46 am
step forward, one step back or sidewards, that's what you are seeing for example in market like brazil. nobody was able to foresee that the brazilian car market would go down 9% in brazil in 2014. after having grown so much for the past year. but it's part of the mechanism. part of the hectic way find your way towards development. but this doesn't, for me, change the trend. the trend on these markets are up. and the trends are up for a simple reason, is the level of motorcycle sayings in these markets still very low compared, i don't even come near the u.s., whereas you know you have 700 cars per 1,000 residents, if you go to europe. average market in europe is 500 cars for 1,000 residents, russia is at 300. brazil at 200, china at 100, india at 20. when you starting to to the new emerging markets like indonesia, nigeria, vietnam, you no, some countries in south america, you
5:47 am
are at 20 or 30 cars per 1,000 residents . so there is no way you can imagine these levels will stay solo. >> you can see more of ali srel she's conversation with more of the nissan and renault president. 3:00 saturday and 3:00 sunday right here on al jazerra america america. essentials like the minimum wage, these days america has a well-deserved reputation for being a nation of workaholics, we more hours than canadian, british and french workers and get this, we work a chopping 42 days more than the germans each year. and while americans are among the world's most productive workers more hours working does not necessarily mean more productivity. that reality is why more companies are experimenting with
5:48 am
a four-day work wing. some of them are finding fewer hours add up to more efficiency, loyalty and productivity. which has them saying thank god it's thursday. it's thursday at the online education tech company tree house in portland, oregon . for most companies it doesn't mean anything special. but here thursdays are really fridays. tree house has a four-day workweek. >> wednesday comes around and you start to panic ability. tomorrow is the end of the week i gotta get stuff done. >> the ceo ryan carson and his wife jill decided to work four-day work weeks while launching a tech start up in 2004. when they began tree house in 2006, carson decided to keep the tradition. >> i thought if evens you can't work less, let's just prove them wrong. and see if it's possible. >> turns out, it is. >> we have found a huge correlation between working less and being more efficient. you know, when you look at it
5:49 am
makes sense this idea of hey, if icon strain myself to what need to get done, we find that it's a huge increase in productivity. >> we do know that a workforce that is on shorter hours and with flexible arrangements, tend to be happier, more loyal, and more stable. and all of those things tend to be good for the business bottom line if you like. >> wide countries that work shorter hours tend to have higher productive at this. typical of g7 countries. germans work way less than other countries yet they are one of the most pr productive. gdp per hour is higher than others. >> what that tells you is that you cannot predict that an economy is going to be stronger because workers are working longer hours. and it's likely that the economy will be either just the same or
5:50 am
stronger if workers are working shorter hours on average. >> cool. that would be very useful. >> carson says there have been some unexpected benefits to the four-day workweek, for one people take fewer sick days link doctor appointments for fridays. he said it's a powerful recruiting tool. >> i get angry ceos accusing us of stealing people i laugh when people say that. what they don't realize is that we treat people like humans here. >> 30 section% of employers nationwide allow some employees to have a four-day workweek, usually involving flexible hours during the summer on his fridays. >> i think it has to come from the ceos or executive or founders. you know, and the trouble is a lot of those folks like working. >> several u.s. cities are experimenting with the four-day workweek in hopes it will save mon knit long-term as well as a few g.m. and chrysler plants, manufacturing, construction and tech companies are more likely to work a four-day 10-hour workweek but not tree house.
5:51 am
>> we work four 8-hour days, we don't work 410 10s we are not trying to trick anybody. >> it's easy to think they are slacking but stakes at tree house are high? >> sometimes i spend sunday evening an their figure out my schedule for the week to make sure that i have everything. >> yvette has worked at tree house for two years, she says employees are held accountable for how they spend their days and their productivity is tracked daily. >> we look at who is producing projects. who is completing those projects within a certain amount of time. there is red flags that will be pulled out if you are not pulling your weight in the company. >> we have had to let people go. you have to be able to perform mere. >> his employs still get a competitive salary plus benefits. his bottom line employees are efficient and happy even if the company grows more slowly as a result. >> i think short-term we have probably been hurt a little bit. but we are growing over 100 percent per here in revenue,
5:52 am
so i am okay with that. that seems good enough. >> carson is doing something else that is pretty revolutionary, last year the company got rid of all its managers and employees set their own projects, create their own deadlines and keep each other on track. well, ebola's arrival in new york city has brought with it, lights, cameras and lots of action. but the reality does not appear to resemble a hollywood thriller and we can all be thankful for that. think some much-needed perspective on a wild and sometimes frightening week next. >> it's a chilling and draconian sentence... it simply cannot stand. >> its disgraceful... the only crime they really committed is journalism... >> they are truth seekers... >> all they really wanna do is find out what's happening, so they can tell people...
5:53 am
>> governments around the world all united to condemn this... >> as you can see, it's still a very much volatile situation... >> the government is prepared to carry out mass array... >> if you want free press in the new democracy, let the journalists live. >> 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...
5:54 am
the inside story ray suarez hosts inside story weekdays at 5pm et / 2pm pt only on al jazeera america hollywood is famous the world over it's the capital of the movie industry. so the irony wasn't lost on us when california lawmakers last month decided to triple the tax credits it gives filmmakers to make movies there. the credits are costing the state $330 million a year. the move was necessary because other states are trying to get in to the movie business are and aggressively pursuing films with their own incentives but are states getting any bang for their buck? let's bring in la times entertainment reporter richard, he joins us via skype from l la. how important have hess credit become to the movie business? >> they have become an integral part. virtually no movie gets made to the without some sort of incentive. studios rely on them to help offset the cost of making movies
5:55 am
particularly visual effects which are expensive and producers use them to help get financing for their movies. so they really have become key. and in some cases they determine not only where a movie will get made, but even if a movie gets made. >> and it's not just movies, right, it's tv shows as well. how does it work in real life ? are you finding loopholes, you had this story i had my jaw dropping at some of the examples you found of how this really works . >> it varies from state to tate they have to spend a minimum am in the state. hire local people and typically get the credit based on, you know, what they spend on building sets and hiring crews and that kind of thing. and the way it works is it's really not a tax credit in the traditional sense it's more like a rebate, filmmakers get back as much as 30% of qualify
5:56 am
production costs. what happened is as the competition for the credits has intensified, states are going out of their way to recruit filmmakers. and in some cases that's led to somewhat some might say are program. or companies taking advantage of a state's eagerness to grab a piece of the hollywood pie. >> let's talk the last air vendor example. >> yes, what happens there, a movie 2010 movie, filmed in pennsylvania, like most of his movies, the producer distributor paramount pictures shot the film in the state. and they also wanted to include visual effects work, they wanted to have that covered under the tax credit program at that time, pennsylvania was offering a 25% tax credit. and the problem was that the company handling the visual effects works, formally owned by george lucas it's now disney bought the company, they are
5:57 am
based out of san francisco, and pennsylvania didn't have the ability to produce these effects. so what power mount di paramouna novel approach. they sought a waiver to insure the visual effects work done in california would qualify for the pennsylvania credit. and it was of significant benefit to paramount, the credit was worth about $7 million. because the visual effects work was $29 million. so a big chunk of the film's budge get that was a big head scratch they are. do you see it continuing like this? will they try to shut it down? >> pennsylvania says today this happened a few years ago under different administration, they say it wouldn't happen today. that they wouldn't approve such a waiver. so in pennsylvania's case it doesn't appear like they will issue that kind of waiver again. i think it varies from state to state. certainly we have seen other examples in new york, you know, when it was announced that colbert would take over for the late show, you know, new york
5:58 am
went out of its twice keep it there. and offering film incentives of up to $16 million. even though few people really thought the show would move from new york. so that's another example. some states are beginning to cut back on their programs while other states expand. >> we have to jump. richard is the entertainment report fore the los angeles times, sank so much? >> thank you. i am talking about ebola in america. no longer a question of if or when, but of how bad. it'its arrival in the media capitol of the word here in new york city brought a fresh round of press conferences and at times hysterical headlines, we led with it tonight on the show it's certainly an important story amid the pan and i can fear there is need for perspective, as new york mayor bill de blasio stated it's dill to contract. being on a same subway car or
5:59 am
living near a person with ebola does not put someone at risk. that may not create mention a science fiction film but a dull end to go ebola's threat to americans is hopefully where this story is headed. the fact remains that the healthcare infrastructure bears for resemblance to that of the west african nations being averaged by the virus, nearly 5,000 people in liberia, sierra leone and guinea have died from ebola. in the u.s. there is one confirmed fatality. a man that contracted the disease in lie beer i can't remember the heros in this film are those like the doctor being treated in new york, he is one of 58 workers infected and treated in the your honor, the previous power all recovered. it's certainly a horror story for far too many in the world but here a home it's a tale that shouldn't cause to you lose sleep or even feel the need to keep the lies on. that's our show for today, i am
6:00 am
jen rodgers in for ali velshi, thanks for joining us. >> announcer: this is al jazeera. from al jazeera's headquarters in doha, this is the newshour. i'm martine dennis. coming up in the next 60 minutes - health workers in mali scramble to find dozens who may have been in contact with a baby who died of ebola. an emergency meeting in egypt after dozens are killed in the signi