tv CNN Newsroom CNN May 16, 2012 12:00pm-1:00pm PDT
do we snow. >> we don't know. they need a couple more months to work out labels and that kind of stuff. >> you are so on it. you get stuff before it hits the shelves. appreciate it. >> thanks, ashleigh. in just minutes, a special moment at the white house. a soldier who jumped on a grenade to save a fellow soldier is about to be honored for it by president obama. and here's the catch -- 42 years after he did it. and the woman that he married is going to get the medal of honor that is in his honor. we're watching that story for you. first, however, if it's happening and it's interesting, it's here. you're about to see it. john odd wards lawyers resting their case without any high profile witnesses.
find out what went down inside the courtroom just a short time ago. former vermont governor and presidential candidate howard dean takes a hit during a radio interview in montreal. and when we say hit, we mean hit literally. listen. >> discussing geographic boundaries and talking about drawing lines -- there was a car, sorry. i'm going to have to go. >> what happened? >> we just got hit by a car. >> are you okay? >> yeah, everybody is fine. >> talk about breaking news. howard dean did call back an't 20 minutes later and actually finished up the interview. talk about commitment. four major wildfires still burning out of control in arizona. and officials are bleeding with residents, get out of your homes, get out of them now, don't stop to pick things up, move it.
the fires scorched 17,000 acres. and firefighters say one of the fires could still hit crown king, an historic mining town. the larchest fire has tripled in size. a family in mississippi calling for the public's help to find a fake police officer who killed their loved one in that state. tom shend ler was one of two people found dead on a state highway last weekend. investigators say they're not sure if his death is linked to a body found a few days later. but they do believe they were murdered by someone faking as a police officer asking them to pull over. >> we know the details are not going to be pretty. this is a violent end to a kind man's life.
>> it's hard to imagine your phatner that situation. >> 234 other news, the government is saying sketchers lied when it said its shape up shoes would tone your butt and legs and help you to lose weight. after months of investigating, sketchers has agreed to settle the charges and pay $40 million towards refunds. you might remember them particularly because kim kardashian helped to push shape ups at a commercial during the 2011 intel. since then, sketchers had $1 billion in sales, too. a south korean man says his dash cam video that you're seeing now is proof positive that his parents' hyundai sonata went ber zerk and sped up in traffic. >> holy moly. that car accelerated up to 80 miles an hour just before it did that crash. lucky to report both parents did
survive. but his dad diz fracture his ribs and his i mother needed an operation to stop internal bleeding. the government is investigating cases of uncontrolled vehicle acceleration. hyundai says the vehicle is being inspected adds well. back here in the good old u.s. of a, the fbi is now on the case of jpmorgan chase. last week, the bank announced a loss of $2 billion from investing in credit default swaps. today, fbi director robert mueller confirmed that the bureau has started a preliminary investigation but he wouldn't specify what the charges could be. a senator was encouraging the investigati investigation. >> i think that the american public has lost nait in many other enforcement agencies, partly because of the delay and lack of results and i think that the fbi's involvement is a very
constructive and important presence in this area. >> you might also remember just this week, the securities and exchange commission saying it's going to investigate jpmorgan chase. it will be a busy time for the bank. let's turn our attention now to the other financial crisis far, far away in greece. when you think of greece, what do you think? the debt? it's about $540 billion in our dplar dollars. or do you think of the history? maybe you think of the beautiful greek islands. i don't know like mikanos. there are those who say all those things i just mentioned are assets. and they are valuable assets worth a great deal of money to, i don't know, a cash strapped country. there are suggestions that greece should hold a fire sale,
or at least consider renting them. let's bring in cnn's richard quest from london. i am not the only person who thought those islands were very valuable. angela merkel has even made the suggestion to the greeks. is it real? is it a possibility? >> well, when you put it like that, no! that's the short answer. the greeks are doing some fairly imaginative things to try to balance the books. for instance, the acrop lis has been rented out. you can rent private policeman.man. and yes, no doubt, some of the greek islands will be leased. those that aren't already, of course, in private property. but greece is already having a fire sale. it is saying vast tranches of the economy, difficult maybe to understand in the u.s. where so much is already in the private
sector, but whether it's gas companies, telephone companies, airlines, or electricity companies, whether it's transportation and bus companies. all of these are going to be sold off. the problem is no one wants to buy them. because at the moment, they are so competitive and they are losing so much money and they have such high employee numbers that they are mill stoners arounds in tors next. rather than engines of profit. >> well, that makes the argument of selling those lovely gems, you know, in the mediterranean perhaps even more valuable. there are 6,000 greek islands. only 227 of them are inhabited. here's our big map of greece. they are spectacular. >> and while you're about it, hang on, ashleigh, while you're about it, don't forget the u.s. budget deficit.
and the 11 or $12 trillion total deficit or the $13 trillion. i believe hawaii is a rather nice place in the pacific. and there's that funny place north. it's not attached to the united states. you know, continental. >> you take on sarah palin over selling alaska, my friend. i'm not going anywhere near that. >> it's got oil. >> i hear you, quest. it is hard not to hear you. but let me tell you, a coup of years ago when this idea was floated, the then prime minister of greece had this to say. and it sounded a lot like you, but for the english act sent. and it was this -- there are more imaginative and effective ways to dealing with the deficit than selling off greek islands. we cherish these islands. and selling them would be out of the question. it would not help. but honestly, i do fleed to ask you with your business acumen, why would it not help?
>> because this is not just a solvency issue. this isn't just about debt. it's not just about greece's inability to pay its current bills. it's about reform and competitiveness of the greek economy. it's about greece trying to compete with fellow euro zone and european companies that are better in terms of production. they produce more for lower costs and are more profitable. now if you sell off the greek islands, you're literally selling the family's silver. you could sell them off to buy time, but if you don't actually make the structural changes that are being ghanded and taking place, job changes, employment laws, investment laws, taxation, all the things, you're wasting your time and doing the proverbial down the drain. >> well, mr. quest, thank you for your insight, your perspective. next time you are in america, i
would like top go for a cup of coffee with you. >> the bill is on you. >> it us a is. it is a moment where we are still waiting on president obama who is about to award a medal of honor 42 years past due. find out the story behind this. it is great. we're america's natural gas and here's what we did today: supported nearly 3 million steady jobs across our country... ... scientists, technicians, engineers, machinists... ... adding nearly 400 billion dollars to our economy... we're at work providing power to almost a quarter of our homes and businesses... ... and giving us cleaner rides to work and school... and tomorrow, we could do even more. cleaner, domestic, abundant and creating jobs now. we're america's natural gas. the smarter power, today.
learn more at anga.us. [ female announcer ] the sun powers life. ♪ and now it powers our latest innovation. ♪ introducing the world's only solar-powered home energy system, which can cut your heating and cooling bills in half. call now to get up to 1,375 dollars in rebates. or zero percent financing for 18 months on select lennox home comfort systems.
offer ends june 15th. plus download our free lennox mobile app with an energy-savings calculator to show how much you'll save with a lennox system. if your current system is 10 years or older, start planning now and take advantage of special financing. so call now to get up to 1,375 dollars in rebates. or zero percent financing for 18 months on select lennox home comfort systems. offer ends june 15th. and download our lennox mobile app -- free. lennox. innovation never felt so good. so i brought it to mike at meineke. we gave her car a free road handling check. i like free. free is good. my money. my choice. my meineke.
a. >> the defense rested their case in john edwards face. he's charged with six counts, all to hide his mistress and their love child. joe johns is covering this. joe? >> the defense rested their case. the defense has suggested the case could go out with a bang, but it certainly ended with much less than that. the defense had threatened to put john edwards himself on the stand, which would have been risky athey decided not tot go that route.
they threatened to put his mistress on the stand. they didn't even put edwards' daughter kate on the stand to try to humanize edwards. defense attorneys for edwards now clearly believing they have established reasonable doubt for their client with this jury in a trial that's been going on for almost four weeks no uh. closing arguments expected to start on thursday morning. ashleigh? >> joe johns, thank you for that. she has been quiet until now. the wife of a basketball coach who was accused of abusing boys breaks her silence. here's why and what her case is. cancel golf today.
[siri] it's off your calendar. good, 'cause it's date night. find me a store that sells organic mushrooms for my risotto. [siri] this organic market looks pretty close to you. how many ounces in a cup? [siri] this might answer your question. oh, i knew that. and remind me in an hour to put the gazpacho on ice. [siri] here's your reminder. shall i create it? yeah...unless you like hotspacho. siri? [siri] sam. you can take the night off. [siri] if you say so. ♪ ♪ and the flowers and the trees all laugh when you walk by ♪ ♪ and the neighbors' kids... what does being true to yourself have to do with being healthy? everything. ♪ but you're not
hitting h imin the head. then a second guy joining in. then a third guy. they repeatedly beat the victim and punch him and kick him. can i remind you, the guy in the white t-shirt on the ground being kicked, beaten is 24 years old. he's a soldier. his car had broken down. he was walking to his apartment. he was approached by one of these losers who asked for a dollar. and he was about to give him the dollar when he got sucker punched. tampa police want to get their hands on these nonsteres, so much so they're offering a $10,000 reward for any information that can lead to an arrest. so sere that in your memory and help out the police if you can. to another story now. a little bit about espn. espn reported on allegations of vile behavior by her and also by her husband.
that's what they reported. but now laurie fine says the network ruined her life and she is suing for libel. her husband bernie fine was a long-time basketball coach at syracuse university but he lost his job after two former ball boys, bo bobby davis and his stepbrother mike lang claimed that he molested them when they were kids. the lawsuit that's being launched accuses espn of gunning for bernie fine and his wife, regardsless of the facts. >> it is impossible for me to describe here today what espn has taken away from me. they should apologize and retract these horrible lies reported about me. only after these defendants have taken responsibility for their reprehensible actions they should be held accountable and then justice will be served. >> she's saying schwartz and kb urko, two people working for espn. as in november, espn's "outside
the lines" aired an audiotape of a conversation that davis claim he is taped with laurie fine back in 2002. she said the network used the tape to falsely report that she knew about the abuse and that she had her own sexual relationship with davis herself. fine says those clips, like the one you're about to hear were taken out of context by espn and she also says she was speaking about financial business. >> the lawsuit claims that laurie fine let davis call her and that she would try to trap him in lies. attorney lisa bloom explains further. >> what she says is she used sarcasm with davis a lot. she said in the case he was a troubled young man, they used tough love, sarcasm.
sometimes she would just let him go on and on. that was their technique. >> so as this is all going on, bernie fine is under a criminal investigation. but so far there's been no announcement about the status of that criminal case. all the while, the civil case is a part of this story. espn says, quoting the suit is without merit and we are standing by our reporting. likely not to hear a whole lot more as there's pending litigation. violence against women. everybody should pretty much agree that that is not right. sounds obvious. apparently not so when it comes to d.c. we're just hours away from a house vote, and the president is threatening to veto it. we'll explain all of that and find out why it's controversial. plus, remember how jcpenney announced a strategy, no sales. we'll just keep our low prices all the time. it didn't work out so well. and now the company sf paying for it. [ mechanical humming ]
[ male announcer ] we began with the rx. ♪ then we turned the page, creating the rx hybrid. ♪ now we've turned the page again with the all-new rx f sport. ♪ this is the next chapter for the rx. this is the next chapter for lexus. this is the pursuit of perfection. oh! [ baby crying ] ♪ what started as a whisper ♪ every day, millions of people choose to do the right thing. ♪ slowly turned to a scream ♪ there's an insurance company that does that, too. liberty mutual insurance.
>> another violence against women act comes up for a vote. and a retailer learns the hard way, everyone loves a good sale. let's begin wf kate baldwin. the violence against women act was enacted back in 1994. been reauthorized twice. no b pro-s, no controversy. and all of a sudden, controversy. what's the big problem? >> you'll probably not be surprised that politics are at play. not only as the violence against women's act have to do with the provisions of the differing
bills but it also has to do with a larger battle over the female vote. that said, the senate passed with bipartisan support a reauthorization of this bill last month. in it, it expands protections for groups like certain native americans, illegal immigrants that are victims of domestic violence, as well as members of the lgbt community. the republicans oppose those measures. the house republican version does not include those measures. why do you ask? well, house republicans argue that you do not need to specify groups in the language of this bill because they're already covered. >> i need to interrupt you and i'm only doing it for a very good reason. the president has taken to the mike. there's a reason he's at the mike right now. he is about to give the medal of honor, it is the highest accolade you can give to a soldier. he's going to give it to the widow of army specialist leslie sabo jr. it's a big deal because this
comes decades after that army specialist was killed in action. let's listen. >> military families and veterans who bear that sacrifice for a lifetime. their spouses, like rose dr mary. who all these years since vietnam still displays in her home her husband's medals and decorations. they are siblings, like leslie's big brother george who carries the childhood memories of his little brother tagging along at his side. and there are veterans who still speak of their brother les with respect and love. rose, george, bravo company, more than 100 family and friends, michelle and i are honored to welcome you to the white house.
the medal of honor is the highest military declaration that america can bestow. it reflects the gratitude of the entire nation. we're joined by members of congress and leaders from across our armed forces including secretary of defense leon panetta, vice chairman of the joint chiefs, secretary john mchugh and chief of staff genere odierno and from the marine corps, the commandant general jim amos. we're honored to be joined by vietnam veterans incruding recipients of the medal of honor. members of the 101st air born division, the legendary screaming eagles. this gathering of soldiers, past
and present could not be more timely. as a nation, we've ended the war in iraq. we are moving towards an end to the war in afghanistan. for a decade of war, our troops are coming home. and this month, we'll begin to mark the 50th anniversary of the vietnam war. a time when, to our shame, our veterans did not always receive the respect and the thanks they deserved. a mistake that must never be repeated. that's where i want to begin. it was 1999 around memorial day and a vietnam vet from the 101st was at the national archives doing research for an article. and there among the stacks, an
archivist brought him a box. he took off the lid and inside he found a file marked leslie h.sabo jr. and there it was, a proposed citation for the medal of honor. and so this vietnam veteran set out to find answers. who was leslie sabo? what did he do? and why did he never receive that medal? today, four decades after leslie's sacrifice, we can set the record straight. i just spent some time with the george and the sabo family. last week marked 42 years since les gave his life. this soldier, this family has a uniquely american story. les was actually born in europe after world war ii to a family of hungarian refugees. and as the iron curtain deaccepteded they boarded a boat for america and arrived at ellis island, past the statue of liberty.
they settled in the steel down of elwood city, pennsylvania. less' father worked hard, pulled his family into the middle class. and when les was a teenager, the family went to the county courthouse together, raised their hands and became proud american citizens. they say that les was one of the nicest guys you would ever want to meet. he lued a good joke, eh loved to bowl. he could have given me some tips. they say he was pretty good looking, too. that's what i hear. he would do anything for anybody. and when george went to college, les looked after their mom. when george went tonight school, les helped care for his three young sons. when les fell in love with rose, who couldn't wait to start a life together, he slipped the ring on her fenger right there in the car while stopped at a red light. and as he headed out for vietnam, he stopped at a shop
and ordered flowers for his mom for mother's day and rose for her birthday. for les and bravo company, those early months of 1970 were a near constant battle, pushing through jungles and rice patties in their heavy packs, enduring incredible heat and humidity. the monsoon rains that never seemed to stop. an enemy that could come out of nowhere then vanish just as fast. for his bravery in battle, les earned the respect of his comrades. and for his family he wrote home every chance he could. when americans forces were sent into cambodia, bravo company helped lead the way. they were moving up a jungle trail. they entered a clearing and that's when it happened, an ambush. some 50 american soldiers were nearly surrounded by some 100 north vietnamese fighters.
said les' comrades, the enemies were everywhere. behind bunkers, up in trees shooting down at them. and les was in the rear. he could have stayed there. but those fighters were unloading on those brothers. so les charged forward and took several of those fighters out. the enemy moved to outflank them. and les attacked and drove them back. ammo was running low. les ran across a clearing to grab more. an enemy grenade landed near a wounded american. les picked it up and threw it back. and as that grenade exploded, he shielded that soldier with his own body. throughout history, those who have known the horror of war and the love behind all great sacrifice have tried to put those emotions into words. after the first world war, one soldier wrote this, they are more to me than life, these
voices. they are more than motherliness and more than fear. they are the strongest, most comfortable thing there is anywhere. they are the voices of my comrades. and those are the voices that leslie heard that day. his come r5ds pinned dune. so despite his wounds, led lee did something extraordinary. he began to crawl straight towards an enemy bunker with his machine guns blazing. those who were there said the enemy zeroed in with everything they had. but les kept crawling, kept pulling himself along, closer to that bunker. even as the bullets hit the ground all around him. and then he grabbed a grenade and he pulled the pin. he said he held that grenade and didn't throw it until the last
mobl moment, knowing it would take his life but knowing he could silence that bunker and it did. he saved his comrades that metropolitan b more to him than life. leslie sabo left behind a wife who adored him, a brother who loved him, parents who cherished him and family and friends who admired him. but they never knew. for decades, they never knew their les had died a hero. the fog of war and paperwork that seemed to get lost in the shuffle meant this story was almost lost to history. and so today, we thank that vietnam vet who found les' files in the archives and who was determined to right this wrong. that's tony who joins us here today. where's tony?
we salute les buddy who wounded in his hospital bed drafted the citation and spent the last years of his life fighting to get les the recognition that he deserved. and most of all, we salute the men bhorp there in that clearing in the jungle. more than two dozen were wounded along with les, seven other soldiers gave their lives that day. and those who came home took on one last mission, and that was to make sure that america would honor their fallen brothers. they had no idea how hard it would be or how long it would take. instead of being celebrated, our vietnam veterans were often shunned. they were called many things when there was only one thing
they deserved to be called and that was american patriots. we will join vietnam veterans and families at the wall to mark the 50th anniversary of their service. it will be another chance for americans to say to our vietnam veterans what should have been said when you first came home, you did your job, you served with honor, you made us proud. and here today, as i think les would have wanted it, i would ask the members to stand and accept the gratitude of our nation. [ applause ]
[ applause ] >> so yes, this medal of honor is bestowed on a single soldier for his singular courage, but it speaks to the service of an entire generation and to the sacrifice of so many military families. because, you see there's one final chapter to this story. you'll recall that has he shipped out to vietnam, les stopped at that flower shop. well, the day he gave his life was mother's day. and on that day, the flowers he ordered arrived for his mom.
and the day he was laid to rest was the day before rose's birthday. and she received the bouquet he had sent her, a dozen red roses. that's the kind of guy, the soldier, the american that we celebrate today. les' mother and father did not live to see this day, but in his story, we see the shining values that keep our military strong and keep america great. we see the patriotism of families who give our nation a piece of their heart. they are husbatheir husbands, w sons and daughters. and we see the devotion of citizens who put on the uniform, who kissaire families goodbye, are willing to lay down their lives so we can our s peace and in freedom. no words will ever be truly worthy of their service. and no honor can ever fully
replay their sacrifice. but on days such as this, we can pay tribute, extresz our gratitude and thank god that there are patriots and families such as these. so on behalf of the american people, please join me in welcoming rose for the reading of the citation. [ applause ] >> the president of the united states of america, authorized by an act of congress, march 3, 1863, has awarded in the name of congress the medal of honor to specialist leslie h.sabo jr., united states army. for conspicuous gallantry at the risk of his life, above and
beyond the call of duty. specialist forward leslie h h. sabo jr. at the cost of his own life while serving as a rifleman in company b, third battalion 506 infantry, 101st air born division in cambodia may 10, 1970. on that day, specialist sabo was conducting a reconnaissance patrol when they were ambushed on all sides by a large enemy force. without hesitation, sabo killed several enemy soldiers. immediately thereafter, he assaulted an enemy flanking force, successfully drawing their fire away from friendly soldiers and u89ly forcing the enemy to retreat. in order to resupply ammunition, he sprinted across an open field to a wounded comrade. as he began to reload, an enemy grenade landed nearby. special sabo threw it, and shielded the comrade with his own body, tlus absorbing the
brunt of the blast and saving his comrade's life. seriously wounded in the blast, he single handedly charged into a bunker, receiving several serious wounds from automatic weapons fire in the process. now mortally injured, he crawled towards the enemy implacement and threw a grenade into the bunker. the resulting explosion i soo lensed the enemy fire but also ended specialist sabo's life. his complete disregard for his own safety saved the lives of many of his platoon members. his extraordinary heroism and selflessness above and beyond the call of duty at the cost of his life are in keeping of the highest traditions of military service and affect great credit upon himself, company b, third battalion, 506 infantry, 101st air born division and the united states army.
>> let us pray. we are humbled and inspired by the life and self-sacrifice of leslie sabo. thank you for raising up courageous men and women who are willing to give their lives and service toaire in addition and their fellow soldiers, sailors, marines and coast guardsmen. thank you to the families who
have given them to that service. thank you for the nation who nurtures such families and those whom they give and bless rosemary and his family and george an his family. bles those who carry on the tradition of leslie, protect and defend america today. may his memory and sacrifice live on in the story of america and her army. and to all of us grace to serve god and country, to keep america worthy of the heritage, thus leslie sabo. we ask and pray as always in your holy name, amen. >> amen. >> i want to thank everyone for their attendance. please give another round of applause to the sabo family.
i hope that everybody enjoys the reception. i hear the food is pretty good around here. god bless you, god bless our troops and god bless the united states of america. >> and god bless army specialist leslie sabo jr. 42 years in the making, this honor being bestowed upon him and his widow. 42 years ago. and now he has earned the medal of freedom. one thing you may not have heard -- medal of honor, excuse me. the one thing you may not have heard was that sabo came here. h ewasn't a citizen of the united states. his father left the communist russian army, brought him here. when he left college, he got his draft notice and he said he would not avoid the draft because this country gave him something and he sewed this country back. take a good look at your screen. take a good look at that man. that's what this country is all about. awesome, awesome story.
thank you. just days before family goes public, my next guest says there's still one thing missing from mark zuckerberg's resume. and that one thing could determine whether facebook succeeds or fails. home protector plus, from liberty mutual insurance, where the costs to both repair your home and replace your possessions are covered.
and we don't just cut a check for the depreciated value -- we can actually replace your stuff with an exact or near match. plus, if your home is unfit to live in after an incident, we pay for you to stay somewhere else while it's being repaired. home protector plus, from liberty mutual insurance. because you never know what lies around the corner. to get a free quote, call... visit a local office, or go to libertymutual.com today. liberty mutual insurance. responsibility. what's your policy?
can facebook make you money if you decide to invest? last year, facebook made 85% of its revenue off of advertising. and that is a high percentage. but it's been falling through the years. rick newman, a chief correspondent for u.s. news and world report. how winners pivot from setback to success. rick, good to have you here talking about this. there's one thing missing from mark zuckerberg's resume and that is failure? is that because he's too successful he doesn't know that it can happen? >> i bear him no ill will and i don't hope that he fails, but i just think it's worth pointing out, most ceos or most people who run companies, a real important part of seasoning is they had to work through struggles and setbacks. that's really how you learn to
deal with problems that are inevitable in business, in your career and in life. he really hasn't had to do that so far. so we hope he'll know what to do and how to react when that happens. he remarkable degree of autonomy as ceo of this company and he will have a freehand to do almost what he wants so he needs to be careful a little bit. >> and talk about the phenomenon and the fast-paced, changing technology world of disrupters buzz disrupters can be disruptive. >> facebook was the original social network been copied by others including google plus and it has taken business away from a lot of other places, about you companies that do this can have the tables turn on them fairly quickly and we've had the example of this recently, black berry is one of them and almost overnight apple's iphone and google's android phones
completely sideswiped blackberry and they they've had the meteoric growth and the way people rented moveses and netflix is vulnerable to other ways of getting movies such as amazon or other ways from mobile twices. technology has changed and company that uses technology to its advantage one day can find technology working against it the next day. it will be fascinating to watch how the ipo story, you get it with bated breath. >> thanks. let's take you live to my colleague wolf blitzer coming up on "the situation room." ashleigh, hi. senator bernie sanders of vermont has very, very strong views on what's going on at j.p. morgan chase. jamie dimon, the chairman and ceo. he wants to see those banks simply broken up.
he will join me in "the situation room" is the president being hypocritical, for example, while on the one hand using his campaign ads to go after mitt romney and bane capital while at the same time going up to wall street trying to raise money from wall street guys including some from bane capital. we'll talk about that and a lot more. he's always, always outspoken and doesn't mince words and bernie sanders will be with me in "the situation room" and all of the important news in north carolina. the defense rests, as you know, in the john edwards trial. >> were you surprised we didn't hear from his daughter or from he himself? >> i think the burden of proof is clearly on the prosecution. abby lowell, someone i know very, very well here in washington. he's come around to the conclusion that john edwards agrees he's a pretty good lawyer himself. the prosecution simply did not
make the case and the burden of proof rests with them and they think it could only have hurt if they brought the daughter up and brought the mistress up. we'll let the jury decide right now. >> i have heard more times than not that lawyers make the worst witnesses, too. wolf blitzer, look forward to your show. >> thanks. >> if you have extra cash coming in from a tax return or something else. what should you do with it? cnn's poppy harlow with some ideas from today's help desk. >> hi there, here on "help desk" today, we're talking about investing. ryan mack and president of francis financial. lots of folks looking at their tax return and got a nice chunk of change back and where is the best place to invest it? >> i have to say congratulations. the first thing you want to do is put it in your emergency
fund, three to six months of living expenses put away and then try to put it in a 401(k). put it in $17,000 and the rest can go in your ira up to $5,000, $6,000 if over age 50. >> if you do have extra cash the first thing you should be doing is paying down your debt even if you see attractive investments. >> mathematically sensical, paying 14% on debt is not necessarily the best bet. putting a budget together and making sure you have an allocated amount toward a surplus, make sure it's sustainable over a long period of time, get your estate plan together and get a budget and all of these things are important before you can have a sustained level. >> appreciate it. if you have a question e-mail us any time to cnn help email@example.com. >> poppy harlow. thank you so much. do you remember this little
thing that j.c. penney launched, no more sales. we'll just go with cheap prices all of the time. how did that work out for you? apparently not so well and the company is really paying the price. we'll let you know how bad it got and what they're going to do about it in a moment. this man is about to be the millionth customer. would you mind if i go ahead of you? instead we had someone go ahead of him and win fifty thousand dollars. congratulations you are our one millionth customer. people don't like to miss out on money that should have been theirs. that's why at ally we have the raise your rate 2-year cd. you can get a one-time rate increase if our two-year rate goes up. if your bank makes you miss out, you need an ally. ally bank. no nonsense. just people sense.
a very expensive lesson for one of the nation's best known store chains. turns out we really, really like it when stuff goes on sale. alison kosik is at the new york stock exchange. i'm talking jc penney and a strategy that really burned them. >> somebody needs to tell the new ceo that people still like sales because what he did was he took away those sales. before he came in jc penney was known to have a sale every single day and he wanted to wean customers off of the discounts and they're offering monthly sales. they stopped shopping there altogether and you look at the first three months of the year, sales are down 19%. investors had high hopes pinned on the ceo named ron johnson. everybody thought he'd bring back some pizazz to jc penney
since he launched hundreds of apple retail stores. he's in the middle of a four-year plan to revamp the stores. give him a little time. >> let me try something else, skechers, shape-ups, everyone was buying them trying to get the kardashian butt. turns out you don't get the kardashian butt? >> what? i have to go to the gym and exercise? the shock and horror! >> the ftc came out and said deep down what we know anyway. skechers don't help you anyway, they don't tone your butt, legs or abs and sketchers has to pay $40 million that it deceived consumers and skechers don't improve your cardiovascular health either. you can get a refund from the ftc