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tv   Real Money With Ali Velshi  Al Jazeera  October 31, 2014 2:00am-3:01am EDT

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the consider continues on the website. see you tim cooke announces to the world that he is gay, a big ho hum, really, but what really surprised us is how little protection there is in the united states for other gay and transgender employees. plus stocks bolt higher get again, but wait until you hear what is helping juice the stock market and your 401k's, and the air in new york is rarefied. you won't believe what investors are paying for what is above a building. "real money."
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♪ i'm proud to be gay, and i consider being gay among the greatest gifts god has given me. with those clear bold words apple's ceo tim cooke became the first and openly gay ceo of a fortune 500 company. along with others, hrc praised cooke for coming out in an essay published today. in the essay, cooke says being gay as been tough and uncomfortable at times, but also says it has quote, given me the confidence to rise above adversary and bigotry. it also gives me the skin of a
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rhinoceros, end quote. cooke's decision to come out is a very public move by a very private man. patricia sabga has that story. [ cheers and applause ] >> reporter: when tim cooke took over apple three years ago, many wondered whether the company could survive without its visionary founder steve jobs. cooke was relatively unknown outside of apple. he cut his teeth at ibm before joining a struggling apple in 1998. he streamlined the way apple products are assembled, and struck long-term component deals to boost profits while locking out potential rivals. >> can you even see it. [ laughter ] >> since ascending to the role of ceo, he has piloted the
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companies through scandals and alleged corporate tax dodging. owe. >> reporter: he tackled faltering investor confidence. quiet and methodical, he has yet product. >> ipad is everywhere. >> but the soft-spoken alabama native has been a game changer socially championing environmental causes and human rights. the intensely personal cooke's sexual orientation has long been an open secret. in 2011, he topped out magazine's list of powerful gays. he forcefully declared in an open letter, that he is quote, proud to be gay. patricia sabga, al jazeera.
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>> now tim cooks says in his essay that plenty of people at apple already knew he was gay. but a study from the civil rights group i mentioned earlier showed that 53% of lbgt workers nationwide hide who they are at work. and 83% of gay people hide some aspects of their identity at work. the so-called covering might mean a gay person decides not to bring a partner to a job funding or display a photograph on a disk. consider this map, it shows that only 21 states, the ones that are colored in orange have laws that prohibit discrimination based on sexual or reendation. and the other 29 states, the ones that are white, companies are within their rights for firing someone because he or she is gay. think about that for a moment. and then also consider that
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federal law does not protect private sector workers from discrimination based on their sexual orientation in 2014 in america. let's talk more about what this all means not only for am but for workers across the united states. joining me is the man who served as senior advisor to president clinton an attorney and long times gay activist, and a consultant who's clients include google and microsoft. thanks to both of you for being here. dory you referenced a 2011 report from the center of talent innovation. it was published in harvard business review as well. it says there are significant advantages to being out in the workplace. i would have thought there are disadvantages to being gay in the workplace.
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tell me what the advantages are. >> that's right. obviously this only applies to states where you are prevented on the basis of sexuality. but in those states where anti-discrimination are in place, workers who are openly gay are better able to succeed in the workplace because they can concentrate on their jobs -- >> and not on hiding their stuff. >> precisely. >> what an fromming thing. richard you and i know each other. you say you can hear the fascination in my voice that all of these states where it's -- you can get fired for being gay. i truly think i wouldn't have known that if this hasn't come to light. you are a lawyer. 2014. you have been working in the clinton white house, why is this still the case? >> it's amazing, and the bill that would have protected all
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workers nationwide missed passing the u.s. senate by one vote when president clinton was president. so why has it taken so long to move forward? it's a complex number of reasons, mostly because different parties at different times have controlled the congress, whereas marriage' allty has become a big priority of gay rights movements. so it's the -- it's the double-control of congress by two parties and the fact that congress hasn't moved on this, and individual states that haven't been wanting to do it, but you can get married in a lot of these states today, but they don't have basic civil rights protections where you can be fired just for being gay from your job. >> dory one of the things that a lot of people don't know about silicon valley is it is far less welcoming to women than you would think.
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it is not an entirely welcoming environment, and certainly for women who are trying to start their own businesses, it is not an entirely welcoming environment. which goes on to say. this has not been a great place for adversity. does this help apple and silico valley? >> i think it absolutely does. it shows that apple is walking the talk. and tim cooke is willing to stand up and be counted, but there is a subset in silicon valley of what are called bro-grammars, frat boy bros that create a culture that is not really welcoming to women and perhaps gays and lesbians. >> and they are also the people who finance -- you have a whole bunch of people that go from wall street to silicon valley. richard we're almost upon on election, how does this start to
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resolve itself? does it evolve? does it tag on to the gay marriage wagon or is somebody going to have to lead the charge to say everywhere in america you cannot be fired for being gay. >> it's interesting, i wrote a piece this morning, which pointed out the fact that this is how real progress happens. people like tim cooke coming out. i mean the advances that the gay rights movement has seen have largely been based upon the fact that people have become willing to be open and honest about their sexual orientation. and when people come out, you realize it's your neighborhood, your doctor, your son, that gays and lesbians are everywhere. they are just like regular people. and once you know someone firsthand it's hard to discriminate, and the resistance falls apart. and that's why the
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movements have seen have really advanced the cause. >> conservatives would say that's why you ruin a culture. >> that's right. i noticed that ted cruz said today he still likes his iphone. >> to tim cooke's credit he has been at the front of human rights issues. but does he now have to be all movement? >> this frees tim cooke to not have to worry about talking about this all the time. as part of its dna, apple has been supportive of equality, but for a long time, because tim cooke was semiopenly gay, there was the question looming in the air, why isn't he just admitting it? now he can put that past him. it's out there. it's old news.
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job. >> and like the rest of us, just choose what he wants to actively support or not. >> exactly. and the second fortune 500 ceo that comes out, no one is going to care. >> exactly. human rights campaign says very proudly 91% of fortune 500 companies have rules that prohibit discrimination on gender identity. which 9% don't. >> right. 9% don't. >> including exxon mobil. >> and that's one of the reasons why this is still a very big deal. somebody might say in this day and age somebody coming out is not a big deal. but this guy is the head of apple. he is probably one of the most -- not only one of the most prominent americans, but one of
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the most prominent people in the world. people may feel the person they work for is not particularly accepting. this sets a very powerful example for people. that you can be successful, you can get ahead, live your life orientation. >> all right. great to talk to both of you thank you for being with us. coming up next, the stock market has been on a remarkable run since 2009, but i'll reveal a major reason behind your 401k's increase. plus new yorkers have their noses in the air and for good reason, it's air worth a lot of money. tell me what you are thinking on twitter or facebook. >> a brutal drug war >> this here were the remains of 31 people that were found... >> thousands disappearing
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well the markets gave investors a prehalloween treat today. the dow staged a rally of 221 points. despite the volatility, october is turning out to be a good one for your 401k, the dow and s&p are on track to end the month about 1% higher, the nasdaq about 1.5% higher. shares of visa were up more than 10% today, one day after visa gave a forecast that topped what analysts were looking for. visa also reported that it is launching a $5 billion stock buyback program. that brings us to a disturbing reason that the stock market's bull run has kept running. stock buybacks. that's when a company buys its own stock in the open market. it's a popular way for companies to boost their own stock prices by creating demand.
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in that happens because investors like it when a company's per share price goes up. you are dividing the profits over a smaller number of share, so each share earns a bigger piece of the pie. the increase in earnings per share is not because the company's business is actually doing better. and here is what is really disturbing, companies on the s&p 500 are on track to spend 95% of their earnings this year either on dividend payouts or buying back their own stock. 95%. that is money that could be spent on raising wages for workers or capital expenditures meaning investing in new plants and equipment. and more companies are actually borrowing money to buy back their own stocks. jen rogers has the story. >> reporter: many of american's
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largest companies have been on a binge. on track to spend $914 billion this year alone to issue dividends and buy back shares of their own companies. the companies include apple, ibm, exxon mobil, fie or and cisco systems. the companies with the biggest buyback programs have outperformed the broader market by 20% since mid-2008. and it's a trend that has been on the incline for the most part crisis. >> companies are doing more buybacks now, partially because they can, but more importantly because they are being pushed to by outside investors. when they do the buyback, they reduce the number of shares that they use in calculating their earnings per share, so their earnings per share goes up, the
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price to earnings per share goes down, stock looks more attractive, and investors like that. >> reporter: but critics say some of the money should have been used for capitol improvements and hiring more employees. companies now spending around 40% of their cash for capital expenditures, but that was 50% back in the early 2000s. these companies warn that companies who cut capital expenditures jeopardize their potential for growth. >> more and more of the earnings are created through share-count reduction, as compared to increasing the sales and true earnings of the company. >> reporter: and many are wandering how long companies can keep buying back their shares at lower levels before investors start to question how they plan
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to grow for the future. >> with me is a man who has been reporting about the hundreds of billions of dollars that companies have been spending so by back stock of their own companies. this has been going on for a long time. it's not new. small businesses will understand that they may have had investors in their business, things are going well, they are going to buy those investors out, and gives them more control of their company. why would a large business spend 10s of billions of dollars buying back their own stock? >> maybe the main reason they do it is because it works. investors like it because it creates demand for that stock, and what does demand for a stock do? it makes the stock go up. and this is not a radical notion. there's a lot of research that stock buybacks work. in that companies that buy back their stock at large -- using large amounts of money do boost the price of their stock.
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so that's one main reason. another very important consideration is that actually companies -- corporate america is sitting on huge piles of cash. by some metrics more than a trillion dollars of just unused cash sitting on corporate balance sheets. >> they are making money and not spending it. >> they are making money. profit margins are higher than they have ever been, and companies are feeling a lot of pressure to put that money to use, and as you know, there's a number of things that a company can spending its money on. they can spending money on things like hiring new workers, factories, improving infrastructure, things like that, sort of investing in the future. they can spending money on -- mergers and acquisitions, buying new companies, and then they can return money to shareholders. what you have seen is that returning money to shareholders is really the easiest thing you can do with your money.
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it's giving back to shareholders in the terms of buybacks and dividends, and investors like it. and in the corporate environment we're in right now, where a lot of people still don't totally buy the recovery, returning money to shareholders is really a low-risk thing that companies can do with all of that cash. >> they can either buy their own stock back or pay dividends and the combination of those two is what we're talking about. it's nice of us to say that we think companies should reinvest their money, and employ more people. but is it a fact as patricia's piece said, it's taking money away from reinvestment. is that a bad thing? >> yes, it certainly can be. that's the argument that critics make, it is shortchanges future growth. this is money that could be
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going to opening new factories, improving aging infrastructure. hiring new workers, and bringing down the unemployment rate, and these are all improvements that go along way towards expanding the economy, and, you know, we all know that economic growth has not been spectacular in the u.s. for the last couple of years, so that's really the main argument against these huge buyback programs, and huge dividend programs. of course stock market investors love these programs, and you s e investors clamoring for more. >> we spent the first segment of this show, celebrating tim cook, and coming out, and had he not done that, i was going to spending the time talking smack about tim cook. it has over $150 billion in cash, and has borrowed money to engage in stock buybacks. >> apple are the number one
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company that buys back its own stock by far they swamp everybody else, and they have tons of cash sitting on their balance sheet, and they -- they even have more to spend if they so chose. right, apple does have a tremendous amount of cash on its balance sheet, much of that cash is sitting overseas, so what a number of companies, apple included do, is they essentially issue debt, take the cash that they raise, and then put it into the stock market so buy back their own stock. so they take money from the bond market and give it to their shareholders. a number of critics refer it to as financial engineering, moving money around. and money is very cheap. >> yeah, anybody who can get days. >> it's super easy. >> dan good to see you. thank you so much for being with us. coming up next, a legal
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shadow may be following citibank, and it is proving costly for them. that story and more when "real money" continues. >> america votes 2014 midterms it's all come down to this... >> you are going to determine whether i'm going to be the next senator from iowa >> the candidates last chance to convince voters they're the one... they will stop at nothing to get your vote >> david young, how are you? >> run for congress >> it's important to be out here talking to voters >> director aj schnack's unprecedented series concludes >> it's certainly something that doesn't exist in politics on television >> america votes 2014 midterms only on al jazeera america
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happen. >> i want to know what works what do you know works? >> conversations you won't find anywhere else. >> talk to al jazeera. >> only on al jazeera america. >> oh my! oops. citigroup says it is chopping $600 million from the profits it already reported for the three months ending in september, so instead of earning $3.5 billion, it only earned $2.8 billion. citigroup says the reason involves talks with regulators, regarding, quote, inquiries and investigations. we know citigroup is among the banks in talks with british lawmakers. the u.s. economy is chugging along at a healthy pace. gross domestic product grew at 3.5%. that's an annualized rate.
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that followed growth of 4.6% in the second quarter, but taken together that is the strongest six months of growth since the second half of 2003. increased government spending on defense and strong growth in exports helped drive the third quarter performance, looking ahead, some economists are worried that a strongerst dollar could hurt exports. the strengthening u.s. dollar is adding to worries about europe's economy that have some economists forecasting the continent will slide into another recession. a lost decade looms for europe in the view of this man. he says that europe must come up with better policies to reduce corporate bank and sovereign debt to emerge from this financial crisis. he joins me now from washington. robert a lot of americans would be forgiven for thinking that over the last couple of years,
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europe was doing some things to emerge from its ongoing financial crisis. it was looking quite positive, and then things took a turn. some of that is clearly russia and the sanctions and the flow of natural gas not flowing because of ukraine, but what is going on in europe really? >> ali thanks for having me on. europe did a great job of putting place measures to get out of that immediate sense of crisis, but they haven't put in place the kind of policies you need to establish a true rebound and get growth going again. and therein lies the problem. we have seen a stress test of the banks that just came out last week, and that identifies some real vulnerabilities. >> so what is the stuff that europe -- you talked about a lost decade, because consumers can't get themselves out from it. banks that keep interest rates
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low, encourage people to people to take on more debt. some want to tighten the belt and others want to raise taxes. what is the recipe? >> i think it has several different parts. the ecb has been far too cautious, they have to follow the fed's lead to really try to jump start the economy a bit. fiscal policies. countries that are able to, like germany, need to be spending more money right now. but my research and work has tried to emphasize that the fact that europe came out of this crisis with so much debt, household debt, corporate debt, and government debt, is a long-term drag on growth. it's a drag on investment and confidence. sure interest rates are low right now. but over the long run until you
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address that debt and give us confidence that borrowers are solvent we're not going to get the economy going again. >> we love debt in america. it's hard to look down our noses at them for taking on too much debt. we're the mac daddy of taking on too much debt. tell me the relationship between too much corporate debt and too hutch household debt. >> one of the special features about europe is you have strong government backing for corporations and banks. and that means when those banks are weak that money and obligations flow to the government. if you have confidence that those goes were good for it, you would be okay. certainly countries like germany and the netherlands you have that confidence, but countries like spain, portugal, italy, we
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see countries that has so much debt, any shock makes people worry that the government could back these issues. >> robert thank you for sharing your incites with my viewers. coming up next, smoking mad in alaska, legalizing marijuana is on the ballot again, but more controversial are the outsiders who are trying to influence that vote. that story and more when "real money" is back in two minutes. ♪
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well there's an intense get out the vote drive in alaska to realize retail sales of marijuana to anyone who is old enough to drink. it will create a legal drug industry in the state, but what is making the vote close is concerns about outside groups trying to influence it. >> reporter: hey, ali, alaska is a place where you can have a little bit of pot and smoke a little bit of pot as long as you do it on your own property. that's been legal for about 40 years now. and medical marijuana has been legal since 1998. in addition, alaskans smoke a lot of pot, a lot more than the rest of us in the u.s. do. so for those republicans and more, the marijuana policy
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project, a washington, d.c.-based organization, sees alaska as a place for a big win in their nationwide push for legalizing marijuana. but opponents worry they might have a lot less control over social conditions in many communities. many alaskans call this simply the bush. flying is the easiest way in. it's 4,000 miles from washington, d.c., where the campaign to regulate marijuana like alcohol in alaska has its money. >> why would somebody else outside of alaska try to push marijuana? >> reporter: this is a place where local control is important, a matter of health and safety. we're here visiting this little town like many communities in alaska, it's completely dry, no alcohol allowed.
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we're here to find out what they think of the legalization of marijuana. drinking takes a dispropersian at it toll in the native american populations. alcohol-related deaths are nearly nine times the u.s. average. booze have been banned here for 42 years. >> alcohol destroys minds and makes people do things that they shouldn't do. >> reporter: but there's not the same kind of local option built into the proposed pot law, and much of the promarijuana campaign is built on branding it as safer than alcohol. these leaders would like to be able to make their own decisions about marijuana, but legalization supporters have different ideas. >> i think alaskans understand it is time for this. they are tired of seeing this wasteful policy of prohibition.
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and they are ready for this. >> reporter: this man was sent north by the marijuana policy project. the mpp has committed more than $700,000 to this campaign, part of a national strategy, proving they can win in a stanchly red state like alaska would be a big win. still he calls this is a grassroots effort. >> you are running the campaign. the mpp is running the campaign. >> right. but our chair is a local professor, and our board is completely made up of alaskans they provide vital input every step of the way. >> reporter: but virtually 100% funded by the mpp. >> not 100%. >> reporter: 95? >> yeah, sure. >> reporter: back in the village it is clear there's a generational split over legalization. what do you think the young
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people in this village think about legalized marijuana? it. >> reporter: do you think it would be a problem among the young people? >> yes, i think it would be a problem. they will ask money from their parents or uncles and aunts. >> reporter: i just talked to a 19-year-old girl who is camera shy, and she said a lot of people here smoke marijuana. alaskians are a lot more likely to smoke marijuana regularly. and for ages 26 and up the numbers are even greater. a tiny player in a national game that could bring big changes to the far-flung villages of alaska. do you think they know you? do you think they understand your community? >> no, they don't. >> reporter: this ballot measure is based mostly on the colorado
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law. it allows home growing, possession, retail sales for all people 21 and older. >> in alaska two previous efforts like this brood legalization of marijuana have failed. what kind of chances does this one have? >> reporter: well it's odd. two recent polls on this were a little bit wobbly. one up, one down, and by sizable margins. so it's hard to tell right now. everyone up there we spoke to close. >> and what is going on in oregon? it is similar? >> reporter: yeah, very similar to the colorado law. they had a failed initiative a couple of years ago. but that was something that wasn't very well written. this is one is more based on the colorado law, seems to be better thought out, better written down. >> just refresh mymemory because i recall you recently on
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this show doing a show, and you were riding in the back of some stretch limousine with some guy who was selling marijuana in washington state from his car. what are the laws there? >> absolutely that was the big ben jammin'. he is still a drug dealer, even though we have legalized weed here. he is openly working the black market. maybe it's just gray now, and selling a lot of weed. there are still only two retail stores open in the city of seattle. they have had all kinds of regulation and supply problems, so people like big ben jammin', his business is booming now. >> i never thought i would be on tv having this conversation with you as many times as we can. it's changing world alan. >> it is sure it. all right. property owners are cashing in
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on the demand for air rights in new york city. i'll tell you about the fortune when we come back. >> let's say you can go 7 or 8 stories, that unbilled portion is called air rights. ♪
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we talk a lot on this show about the uneven recovery in america. to get a window we don't need to go any further that new york real estate. a park avenue sky scraper became the tallest building in the western hemisphere. the actual air and space between buildings and above them has become a valuable commodity. mary snow explains. >> reporter: on an island that's home to 1.6 million people squeezed for space and vying for a view, the only way to build is up. demand is
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high, developing jockeying for a slice of the skyline. and that's why they hire kurt. launching a balloon moored to his truck, equipped with cameras and the faa's blessing, his job is to photograph the view from skyscrapers that haven't yet been built. mere inches can mean the difference of millions. it means you can advertise an apartment with views of times square or without, just those inches back and forth. and that's really cool to find that out. it's like you discovered, wow, you can see it, or like i got sliver of river. oh, shoot, it's an air conditioner. it's a french fry exhaust fan right in front of you as your million dollars view. >> so you are giving developers what is visible right now. >> exactly. >> reporter: the air itself has
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become a hot commodity. >> the right to develop the invisible air is being transferred to a very tangible asset. >> reporter: a tangible asset, but a complicated one. he worked on a deal where this catholic high school sold its air rights to $13 million to a company building condominiums next door. the school promised not to build any higher. in return upper level condos obstructed. >> let's say it's five stories, and let's say you can go seven or eight stories, that unbilled portion is called air rights. >> reporter: the air rights have to comply with zoning law, and they are not new in new york city, but they are more widely used now as demand remains strong with real estate prices continuing to sore. the average price per square foot of manhattan property by some estimates is roughly
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$800. for air rights the average price per square foot is at a jump of 52% since 2007. >> we had a huge develop opportunity. we have people paying very high prices for finished buildings that are unparalleled. you don't have that in any other market in the country. >> reporter: new york's theater district for one is cashing in. the organization has reportedly made $50 million since 2008 by selling its air rights. the appetite for air has become an appealing side dish for a new york institution famous for its past rawmy since 2008. with construction booming in
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this once run-down neighborhood, the air presented a opportunity. the deli stays put, they can't build any higher. he won't disclose the amount he's getting, but he does say it's enough to keep his business going for a long time. but del says it was time to strike. >> there are no two air rights deals left. it is the last remaining wild frontier that exists in business. >> reporter: and when that soaring cost comes back to earth is anybody's guess. mary snow, al jazeera. now once an air rights sale deal is inked it holds forever, unless the buyer of the air rights sells them back or sells them to somebody next door. what it means on the ground is that real estate prices have been soaring, and for anyone who
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is not rich, it is getting harder and harder to live or do business in new york city. just ask nicki perry who knowns two well-known restaurants here. just the sight of the new sky scraper she finds in her words disgusting. it's a strong word. this is new york. you knew it had skyscrapers. >> but we're talking about air? we have half of our stores empty because the rent is so high. and it's very destructive to the city. we have all of this empty space, so no payrolls, taxes, and anymore. >> and tell me the line you draw between rising real estate prices in new york, and the rents that you pay. >> there -- the line i draw? i mean there is no line. there are no lines. the lines have been completely redrawn, i suppose. but it's insane, because the
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rents have gone from $5,000 a month, to $75,000 a month. >> is that real? >> oh, there are streets where we are -- near me, where they are even higher. >> you are in the west village. >> they are paying $150,000 for a thousand square feet. so all of the people that came here like i did in their 20s, with a good idea, and a hundred dollars in their pocket, that's gone. nobody can afford to live in a studio. because they are not $400 a month anymore. so we're losing all of the people that had a dollar, a dream, and a bravado that would come to new york get a job waiting tables, and dreaming the dream -- >> you can't do it. >> it's dead. it's gone. >> you run restaurants, you want them to be in the same place. so what does a lease look like? you set a lease for a set amount
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of time, and then what is happening? when these leases come up for renewal. >> that's it. bye-bye. i want $50,000. i am very lucky, i'm doing something that nobody else is doing in the city. and my landlords one in particular has been very good with me. and works with me. i have been in negotiations with the other landlord for months, and i have been shaking like a leaf because they can just pull the rug out from underneath you. >> what if they make the rent. >> i understand. but we're destroying the very fabric we have of where we're living and what we're doing, but pricing everybody out of the market. we can't live in a city that is full of banks and nothing else. >> you can a dreamer and entrepreneur, and someone who came to this city. all things that a city like new york needs. but at some point enough could
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happen that it could drive you and others out. >> well, it already is. we have kids leaving the schools because the parents can't afford to live there anymore. >> so what happens then? >> rich people -- we're getting richer -- the houses that were -- you know, $150,000 to buy are now $10 million, $5 million, $20 million -- >> yeah, unbelievable when you see these prices. i saw your face when mary snow said that penthouse was $95 million. go? >> yeah. thank you nicki. nicki is a bit of a force to be reckoned with in the community, so she is not just speaking as a restaurant owner, she is speaking as a small business owner in new york. coming up next a report on gender equality in the world. >> consider this: the news of the day plus so much more.
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>> we begin with the growing controversy. >> answers to the questions no one else will ask. >> why did so many of these people choose to risk their lives? >> antonio mora, award winning and hard hitting. >> people are dying because of this policy... >> there's no status quo, just the bottom line. >> but what is the administration doing behind the scenes? >> real perspective, consider this on al jazeera america real reporting that brings you the world. giving you a real global perspective like no other can. real reporting from around the world. this is what we do. al jazeera america.
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>> america votes 2014 on al jazeera america focusing on what matters to you >> what are the issues that americans need to know about? >> everybody needs healthcare... >> lower taxes... >> job opportunities... >> reporting from the battle ground states... >> alaska... >> kentucky... >> iowa... >> local elections with national impact >> we're visiting with the people making the decisions... >> covering what it all means for you... >> ...the mine shut down, it hurts everything... >> i just keep puttin' one foot in front of the other... >> we're fighting for the future of our state >> for straight forward unbiassed political coverage... stay with al jazeera america gender equality is a high ideal that we should all aspire to achieve, but a new report says not one country in the world has come close to achieving it. at the rate things are going gender equality in the workplace
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will be realized everywhere in 2095. not one country in the world can say it has full gender equality. let's go to one of the authors of that report. she tracks the gaps between men and women in all of those areas that we're talking about. and i think it's important -- welcome -- i think it's important to mention. we think women in america make $0.78 per men's 100. but that's just one piece. >> yes, are the same number in the workplace, two, are they getting paid the same for the exact same job, and third are they able to make it into high field positions and senior leadership positions? and then there's health
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equality, education' equality and political quality. >> okay. so what are the countries that have the best score so far? >> if you look at the top ten, you have to be a country that is doing well across all of those areas, and that's what the nordic countries do. they have closed up to 80 or 90% of that gender gap, but they are still not at that parity. and then there are countries that may not be the same in terms of health gaps, but they have more women in parliament, they have more female ministers, and women tend to make up the backbone of their economy. >> sure. let's say those nordic countries where you are getting up to 90%. 10%? >> where they usually end up
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failing is women in leadership positions. so in most nordic countries, you have near parity, not parity, but near parity in terms of labor force participation. and then you just haven't got the same numbers all the way at the top. countries like norway put in place quotas for boards. but the rest are still stuck when it comes to leadership positions. >> let's talk about some countries that have gone backwards. you have seen the conditions for women deteriorate in sri lanka, tunisia, and more. are there commonalities? >> almost all of those countries is it because women are stepping out of labor force. there are other countries because of their political rankings they are doing okay, and that's india. 9 million women have left the work force in the last nine years. >> why are women leaving the work force generally?
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>> there are lots of different reasons. certainly in india given what has mapped recently there is perhaps some concerns around safety and security. but gender equality seems to be something that low-income countries need a lot of. high income countries try to get to. and middle income countries sometime you have women that step out, because now they no longer need to afford to go for gender equality. >> generally speaking though, your report seems to imply, this can't all be done by the private sector. >> it has to be both. employees have to be given the right kind of conditions by companies, but they also have to be given the right kind of structures by government. you need both men and women to balance work. >> thank you for being with us to share the report with us. >> thank you.
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we end tonight where we started the show and that's apple's ceo tim cook becoming the first openly gay ceo of a fortune 500 company. some people say shrug and ask why does it matter? because america has a long way to go to prevent discrimination. to date 29 states, more than half of the states in the country do not have laws and policies protecting gay workers in the private sector from workplace discrimination or from gay. and then there are the fortune 500 companies themselves. 9% of them still don't have specific policies prohibiting discrimination based on sexual orientation, and that's why it is a big deal that tim cook made a pronouncement about being proud to of who he is. it comes from the heart of
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silicon valley. look for a who is who in tech companies and minorities and women are not high on that list. apple has advanced the way we do nearly everything, and now the man running that company may have advanced the cause of equality. that is our show for today. i'm ali velshi. thank you for joining us. ♪ al jazeera america. we understand that every news story begins and ends with people. >> the efforts are focused on rescuing stranded residents. >> we pursue that story beyond the headline, pass the spokesperson, to the streets. >> thousands of riot police deployed across the capital. >> we put all of our global resources behind every story. >> it is a scene of utter devastation. >> and follow it no matter where it leads - all the way to you. al jazeera america,
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take a new look at news. the battle iraq army fighters win back control of a major oil refinery and the key isil command center. ♪ ♪ good to have you with us, i am david foster you are watching al jazerra. also coming up in the next 30 minutes. the president says he well stay in power despite violent protests over an attempt to extend his 27-year rule. russia agrees to a multi billion dollar deal to