tv The Willis Report FOX Business February 9, 2014 10:00pm-11:01pm EST
report". gerri: today. a storm of protest after seal breaks study comments about to employees. what has people of raged? and another terrible jobs report. we brought dowthe biggest mistakes the diamonds are forever buth it is over who keeps the ring? we are watching itit all for you on "the willis report." gerri: aol ceo armstrong and
hot water after comments he made the play been distressed babies for changing the 401k program all said jury a companywide conference call. here to way you'd we have our power panel. and paul howard senior fellow at the manhattan institute he added moms to the staff we have to do that had distress babies that we paid $1 billion each to be sure they were okay in these are the things that add up to benefit cost so i madehe decision to change the 401k plan. critical of their decision to give emplees less benefits. do you have a problem with what mr. armstrongad to say?
>> as i understood in it he was playing obamacare with the increased cost rather the individual situation. that caught -- cost is indisputable obamacare is costing them millions of dollars. >> so wha he was saying is the employee health premiums have to go up or they have to cut the batching. so the company and the employees a of the culprit is obamacare. gerri: there are other sources for those funds. you were not a favor and? you thought it was bad form? to make you don't nt to single out any individual employee for health care. it could even be a federal violation classic case of foot in mouth spicule party
as opposed to disclose -- as clues medical liberation about employees. gerri: they give all the trouble we go through here to keep personal informatn in separate add-on that call today there were probably a couple bevan who were very upset. >> i thought the same thing right away privately have been very upset. i did not hear the details of it was an endto have babies because theoretically they are involved and covered because of the mail but it is psible people do who they were. theoretically that would be hipaa violation. >> bb tim armstrong is not the best benefits manager brett fight is any company in a position to be so critical of health care? going back to world war ii price regulations so this is
the fundamental cause some courage words but government involvement under health care. ups, a target, a university of virginia, companies have said health costs are going up specifically because of obamacare. >> then why notay health care costs are going up? we have to offset with 401k. we have to make a business caseecisions. >> i am not certain he can tie all these to obamacare. for the last few years while health care premiums have been going wn for a middle businesses they are going up or stay the same. said you have a variety of cost related to obamacare like a preventative care or things that are good for employees long term.
we have to let this shakeout gerri: i hear that but i agree obamacareost are out of control absolutely. tim armstrong has foot in mouth syndrome like i have never seen. here he calls on the employee's he will fire in thconference call. >> they think it is a joke if you want to joke around you should pick up your stuff a you believe today i will be very specific, from experience, put that camera down right now. you are fired. of. you just never hear this because nobody ever es this except possibly tim armstroog. >> it is not the good readers and style to be rate
to employees and a public manner i am not an aol shareholder but the italy is in the competitive environment but with government breathing down its back. gerri: broadly i was asking the question how is aol even on the hook? you explained why that babies. >> companies self insured to play all their own medical bills through the administrator. aol s of the folks for premium reinsurance attacks also a new government agency at works on comparative effectiveness so they are real cost that aol will pay. gerri: but aol revenue is up 13% the stock is on fire but
yet the employees are not happy. >> we object to the manr that this practice was sclosed some significant changes especiallespeciall why resulting in a pay reduction should not be buried in fine print but it spoke about openly. so the idea of 401k dial back this came out some time ago and was buried? employees are not happy? >> i see that has been the problem with the affordable care at all along we still don't have a sense of what is happening. it and we both know businesses don't like it. >> obamacare he use a the
ramifications here in the conference calls of aol dealing with all these uncertainties. gerri: i believe now employees are befuddled a and confused. to m armstrong h some confusion but it goes to the bottom line. >> because health care cost employees rather than using medicare coverage under the affordable care act. on the heels they stepped on his own message. >> we did not get a chance to talk about the positive things in pat is a lot of things are covered preventativelay that in the long run i hope will
make costco down n but every don't know yet. >> in the meantime people find their cost is the wing of. >> if you can find a doctor. >> if you can find a job. [laughter] great job. we appreciate your time. what do you think? is a else rolling its own emoyees under the bus? we have more to come including eight new device that looks like "star trek." not just the price tag we will tell you the cars that will cost the least to maintain over five years. ♪
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that's more than 2 percent of the entire us population. this includes veterans from previous generations and veterans from today's wars. challenging medical condition ever increasing technological breakthroughs and more returning women than ever before are redefining the type of care va professionals are providing. serve those who serve our nation. provide patient centered evidence based care. bring your exceptional medical and health care skills to the veterans health administration. america's heroes need you. join the conversation at #workatva or visit vacareers.va.gov gerri: consumer alert gas prices will jump as we begin
the countdown to the winter than higher prices as refineries and shut down for the winter rain in santa summer plant that is more expensive but the pain but not be as bad as last year. aaa predicts it will take between $3.85 a and 375 per gallon. last year they hit $3.79. just one factor to consider when buying a car a kelley blue book is unveiling a list of cars with the lowest projected cost for the first five years of ownership. of the senior markets analyst thank you for coming. great to have you here. tell me everything that goes into this depreciation depreciation, maintenance, r epair? >> exactly. consumers get caught up with the up front purchase price the add maintenance
maintenance, insurance, fuel maintenance, insurance, fuel , in addition to get a sense of what they would pay over five years. gerri: nobody thinks about this they just looked at the sticker. you say mas des is the best reid streetcar to operate overtime? dear rick if you look across the portfolio if fantastic little crossover on average you will save the most with mazda by looking at a brandon their portfolio. their fuel efficient and will last of the road. gerri: the best luxury? >> llxus. no surprise they share is jerry and platform with toyota so we know there is a big focus on quality you'd fuel efficiency.
lexus i the vendor there. gerri: if you have a single model which one will save the most over five years? >> the midsized is tough it is very competitive a lot of great products but we had to pick a better wh the honda accord. going back historically the best selling in the country now a redesign with 40 mpg. 200,000 miles on this is great. gerri: 200,000? that is amazing. what pickup truck? these can be expensive they can go through a lot of guest. >> absolutely they're very expensive but they have come into alignment with construction and so for this similar to the silverado redesigned with the emphasis on fuel efficiency eric will
be cheap to maintain in the long run. gerri: what fuel consumption and? >> look at the sierra the mid-20s on the highway may be closert 30 which is pretty good for the full-sized pickup. gerri: you like the already? >> that is the sweet khar'kov a fantastic plane but they did not sacrifice fuel efficiency. you can get the 2-liter turbo closed 35 miles per gallon on the highway so able save you cassette the pulpit and its appreciation of the best. gerri: and a very pretty. here is a number. you love cars and happy to buy anything but the typical new vehicle only retains 39%
of its original value after five years. 60 percent out theindow. >> it is tough coverage you have great new-product every year not to mention an used cars and on the road because they a produced at a better quality it is tough to read it but they do appreciate. no way to get around it. gerri: so with all these numbers, of what are the items that typically breakdown? >> historically transmission and, where a and tear that will break down after 100th miles. the timing belts will go well but cars produced in the last five or 10 years is much better than anything we have seen in a long time. some resale most anything you can get 150 all maybe
even 200,000 as in the case of honda. gerri: he a great weekend. we will have advice on how you can avoid the been part of the 6.6% debtor unemployed. and new device to give google classic run for its money. it is amazing could ever your eyeballs? welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex.
gerri: forget going to the movies or playing video games now you can do that with this. it is called -- is the person all mounted theater by directing it directly into your eyeballs. we have the ceo. we appreciate this. tell me what this is and how it is supposed to work. >> we have this amazing new visual technology that there is no screen the image is projected directly into your eyes every take this new technology to put it into a head the and of your phones see you can listen to music if you want a video that you are year-old movie theater. gerri: should i be concerned about my eyeballs of? >> not at all. this is more comfortable the of the lcd monitor the use
tear at all day it is the light here rise naturally see it seems more comfortable tuned real than any other display. gerri: how did you come up withhthis idea? >> we are doing crazy research for the government and i was called up what about projecting light directly into your eye? i fly out to i stuck my face intohis contraption and there was a moment i thought something is happening. gerri: does it hit your retina? i cannot get over the technology. do you need a tv ever again? >> no. you plug this and tear iphones or your tablets u.k. and street liked netflix or view games it feels like a huge personal theater it is an amazing
experience. gerri: what is the cost? >> it is on kickstart right now you can buy this right now $489 -- $499. gerri: are their other applications? people primarily love it but corporations have approached us with the concern like security they want to do computed without people looking over their shoulder or medical applications for those were visually impaired. gerri: and it comes in different colors is a teeeighteen yesterday's news? >> it is totally different market. to give people information but we try to give the ultimate experience. gerri: are there a medical applications?
>> definitely. people are very interested to potentially use it as the assistant to vice foreign visually impaired issues. gerri: you told me there are no problems over time and it safer than the of crt spirit we have shown hundreds of hours on this device to thousands of people the first thing they noticed is it looks so real a unit of natural is it also feels a lot more comfortable but we're trying to create the natural light he would normally see. gerri: amazing technology. thinks he for showing us. civic consumer credit grows by the most of almost one year as a result of aharp increase the credit card usage. total consumer credit rose byllion cover more
than $3 trillion use rose by five lead alone the can you imagine life without credit cards? most of us don't want to let them go is impossible? we want you to help us find out by taking the cash challenge. can you don't your credit cards to live off of cash only? we will want to talk to them. if you want to get rid of credit cards we will help you. shouldn't you reserve the engagement ring if the relationship crumbles? how do you do that? the best way to get the urge dream job while applying of wind. -- online so ally bank has a raise your rate cd that wothat's correct.a rate. cause i'm really nervous about getting trapped.
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gerr finding a job in today's market is downright tough more speakers fled the web with your new prospects but error next guest has tricks to landing the resin made at the top of the electronic file. from the staffing firm in chicago, great to have you here. people ponder how important it is to be highly visual on the web when looking for a job. >> most employers will google you to check out your facebook page for precautionary measures so you want to have the on-line presence in make sure you cross your t's and dot yr eyes to be sure you know, what other people see when they google you. gerri: is the paper resonate dead? >> not at all that has spent
a greatly exaggerated. there still is the need for that people still share this around the office. >> happens if there's too creative with too many sonates they have fabrication. make sure you write user bright tents in the right adjective but most importantly to say i m marketing here i am a journalist here. gerri: i don't mean lying to resonate or fabricating not
embellishing. gerri: the fact supports your argument that they dismiss the are present-day seeking gate yourself from about. talking about on line where the action is it is difficult to get your name for those considered for the job what web site should they go to? i realize you were in the business that is more old school but what matters? >> if you are looking for a job beyond monster, a career builder, dice, have your profile updated:lk to end. the realtors the present rate is a marketing tool for who you are if you are a job hopper over the next tender
15 years the says you're not a steady employee. gerri: talk about other tricks they sit if you talk about a marketing job with procter & gamble what is considered the prime entry level there are thousands of people competing for the same job. how do you get your rest of the app talked? >> you have to be a networking get out of your house and get the profile but then get out. networking with a you just graduated fromollege networking with friends of your parents are parents friends, or networking groups, interest groups in your field, or if you have been in the workplace your networking with people you used to work for in staying
in touch to talk about relevant things keeping you eric the top of the mind for those who have the power. gerri: didn't have to go through the ierview iiself then beat other people in the company. i think for a high-profile positions people hire people they already know. somehow with that 7 degrees of separation is that what you are word describing? >> of firms like mine they get paid fees to find people well that is true the rolodex is limited but are you getting yourself in front of people then to have the perspective to say i
need to brush up on this that is where most people feel they are not truthful. gerri: that is not on my reservation. [laughter] >> but most people want to know but the truth is it if it is a deficiency. gerri: i would not disagree but i want to share some information. of web site like monster.com that is the best known out there ranks 152nd in terms of popular. healthcare.gov ranks 813. fox news and 309. monster, the career builder people are looking hard. >> if you for having me.
getting the interview process is hard enough t when they do respond you may be asked we are questions. actual interview questions number five why is the tennis ball fuzzy? it is a question asked which one answered because it is cuter. if you're a pizza delivery man how would you benefit from scissors? one answered to make some of -- to make the pizza box around. [laughter] number three if he were a box of cereal which one would you be? one answered cardboard. [laughter] if you could sing once on un-american i know what would it be? >> the number of wind oddball interview question is do you believe in big
flat? one said yes. i married him. [laughter] the link onto our web site at gerriwillis.com. looking out for you in germany stocks overseas bond funds big changes and our legal panel, who gets to keep the ring when the engagement is off? ♪ ♪ [ chilen yelling ] [ telephone rings ] [ shiry ] edwa jones. this is shirley eaking. how may i help you? oh hey, neill, how areou? how was the trip? [ male announcer ] with nearly 7 million investors... [ shirle] he's right here. hold on one sec. [ malennouncer ] ...you'd expect us to have a highly skilled calcenter. kevin, neill holley's on line one. ok, great. [ male announcer ] and we do.
i a don't know why this is in the corporate to begin with. >> it is a huge he gets it back. it is conditional the condition is i give the ring to you, you have to use satisfy the contract to bury me. if they are very for one minute it is hers. it is a contract she did not fulfill the contract she has to give back. gerri: and do you think it isarm and fuzzy? >> she is correct in new york but other states handle it differently. other states may look at the circumstances i was the spouse and then i decided not to go through with it that i may not be able to get a back.
if it was the fiancee had the ring then she was unfaithful to. >> you have no heart at all. [laughter] gerri: this is the interesting point because if you do cheat aren't you breaking the contract that she was talking about? >> a&e can get crazier. in certain states if you get the ring as a holiday or a birthday gift that it babied it was also a conditional because itas the bthday that is another problem. >> so what your message is if you give off a gift don't do it on valentine's day. [laughter] not of the birthday. >> not only that the important thing you want
to be a good partner said doing something on valentine's day does not count. >> a debit dnk every day? civic that is also good. civic with the legal analysis of this particular situation, she is right once you are merited is a different story except if you bought a five-bedroom thousand dollars ring then you got married then one week later you got divorced like the kardashian then there could be deceits they do have a better chance to get back. >> said you have to hire a lawyer to make the case it was fraud. gerri: so now we talk about what is more expensive hiring the attorney or the
average set is spent? but there was a case in new york involving a a football player whose name escapes me it was worth three-quarters of a million dollars and a hammer. they didn't get married i'm sorry they got very but a short time later they got divorced and he could get back to the son of a. it is a mixture of romance a you block a you tat is a bad thing. gerri: why is this even in the court? bid because it is so much money. they could not come to the terms. if it is an heirloom he would have walked away. gerri: i do think it should be the family's. absolutely. >> you would think or hope the people could resolve something like this but it ends up in court. >> 20 years married i of
russia right now how to start these proceedings. >> for data. you would never get it back. [laughter] >> is in equitable distribution and that suse gets a good shot to keep it. >> okayhen. good news. great job. fascinating i cannot imagine. moving to 5:00 p.m. eastern we have been fat -- flashing that user's guide to love the end monday more warm and fuzzy. still to come my to sense in the of volatility is too much as they dumped the stocks. should you? stay with us. ♪
too big. gerri: even though half of us? tactically it does not a correction. >> but it feels bad enough and it felt that way. then we had some stabilization but this is the correction everybody was looking for. gerri: do said this is the correction but. >> how deep it will be? bbb already hit the bottom. gerri: you cannot predict that. you said especially in emerging market etf? >> that is the ultimate growth trade if you look at the chart it has got nowhere in five years. but the two biggest troublemakers of china and brazil are 30 percent of the
etf. i do not want to be there. gerri: interesting. what about bonds and what kind? >> it was interesting people sold the stock instead of cash they went to bond. i thought why? they have or the fuzzy feeling from 2008 that protected them like the teddy bear. but the bond is probably okay but i am not in love with it by starting the year i thought the 10 year would be a 4%. we saw it could not get beyond three. gerri: what do you like? the bond market is 100 times bigger than of the stock market. >> if you have to be some should be in bonds buy you
point to be in the sweet spot around five years. stick with high-quality. joke has run its course. gerri: high-quality corporate? >> ice debris from the bridge to market. -- stay away from the emerging market. it is almost nothing. gerri: have you seen the headlines on p.r.? it has all kinds of problems to pay the debt they will float its some people say goal by fact -- go by that civic they are smarter than the. it is not of great idea for the retail investor. if you are a professional there is probably a workout. i am not sure how that will flesh out but the president has already said no bailout
for p.r.. fly to rival it to be there? sid back reducible? back not entirely some are in better shape then the united states be very careful. gerri: a lot of information into a short segment. what you were clicking on tonight to the days has downgradedhe up p.r. credit rating at junk status. it is struggling did with $70 billion of public debt is preparing to re-enter the bonds to market. a dismal jobs report. but a stellar market today sharply higher as investors would find them a bright spot of the jay you very jobs report italy went hundred 13 jobs were added. a new federal debt limit
almost four months later the new cap 17-point to trillion dollars treasury secretary lew had to do some quick maneuvering to keep from defaulting to wait for congress to act again. the postal service lost 354 billion but that is much less than the 1.3 billion in lost before there was 14.5% growth of shipping the 4.5% drop of first-class delivery. those are some of fostoria's onox business.com. is a of wealth from its welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your flat rate shipng. fedex one rate. really makes my life easier. maybe a promotion is in order.
good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex. yeah. i heard about progressive's "name your price" tool? i guess you can tell them how much you want to pay and it gives you a range of options to choose from. huh? i'm looking at it right now. oh, yeah? yeah. what's the... guest room situation? the "name your price" tool, making the world a little more progressive.
open to innovation. open to ambition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. gerri: aol changing the 401(k) plan holding employees hostage. on an recent conference carpal the ceo blamed obamacare and two female employees who recently had babies with special needs.
is aol throwing its employees under the bus? we have it on gerriwillis.com. 63% said yes. 37% said no. interesting. here are some of your e-mails. folks writing to u about food stamps. bob from florida food stamps from s.n.a.p. are too easyto get. $3 11 in crap paid for later. my tax dollars paid for that. it must stop. everybody agrees with that. and terry from virginia writes in some places it's easier to get food stamps than a job. in some ppaces you get more than if you're working. chris from arizona said -- it's a different topc. in the talk about the hacking mess i haven't heard anyone mention prepaid debit cards. my husband and i each use them for all online purchases and in some retail. we keep about $100 loaded on one of them.
if someone gets ahold we not much. we reload with cash. finally credit card debt across the country are rising. wch makes me wonder have we learned nothing from the great recession in which consumers loaded themselves with mortgage debt. nothing from the target credit card hacking in which millions of consumers have had their personal information comprised. this ripoff of consumer information has been one of the big issues lately. one will continue when the show moves to an hour earlier next week. that's right on monday we'll kick it off at 5:00 p.m. eastern. 2:00 p.m. on the west coast. we'll have a new segment "cash challenge." dump your cards and live on cash alone. tweet me or e-mail me. let me know if you can take the challenge and live on cash alone. it starts monday. our time will change. but our issues, hey, they say the same.
that's it for the "the willis report." have a great night! we'll see you next week at the different time. don't forget! good evening, everybody and welcome to the broadcast. the white house in full throated denial today. the congressional budget office director testifying in front of congress, the head of the cbo confirmed that obamacare will lead to a reduction in more than 2 million full-time american jobs. higher deficits and slower growth and the white house responds by denying the findings of the cbo, blasting the news organizations that reported those findings and then, for good measure, denying that the cbo concluded that obamacare was disincentivizing wo for