tv MONEY With Melissa Francis FOX Business September 12, 2013 5:00pm-6:01pm EDT
hurricane sandy, working your way back to some semblance of normally, then this happens. we wish them the very best. we hope they get out of this one. seaside park, new jersey of. "money" with melissa francis is next. melissa: i'm melissa francis and here's what's "money" tonight. just as the world treads lightly over the syrian conflict, vladmir putin dumbs all over the u.s. saying we're not exceptional, and smack dab in the middle of "the new york times" op-ed page no less. who doesn't see the irony in all this? is this a bad sign for what's next in the syrian crisis? plus the age-old question can women have it all? burberry's female ceo says, no. she has set off a storm of controversy but is she right? we have an all-star panel waiting to jump all over this money talker. who is saving money today? people never pay another to for a bridge or tunnel again. keep watching to find out who it
is. even when they say it is not it is always about money. melissa: straight to syria again tonight. delicate talks on exactly how to proceed with the plan allowing syria to turn over its whole cachet of chemical weapons. president obama saying hopes diplomacy works while secretary of state john kerry plainly saying russia and the u.s. aren't on the same page yet. let's go live on the ground to the middle east with fox news's leland vittert. leland what is the latest from where you are? >> melissa, it is like one of those old-fashioned cold war showdowns in geneva. secretary of state john kerry on one side and russian foreign minister lavrov on the other and their basic negotiating point extend from kerry saying that the united states still views force as a real option. on the other hand lavrov is
still trying to get the very best deal he can about syria's chemical weapons from the americans. and also the one thing the russians have really laid out is that before there is any deal about the syrian chemical weapons that is going to be made the united states has to take force off the table. the united kingdom and france are backing up the american position that there really has to be some teeth in terms of consequences for president assad if he does not live up to his previously-made bargain of turning over all of his chemical weapons here. the other thing that you have to look at in the larger sense of these guys will be talking about is how to actually do this. syrians have well over a thousand tons of chemical weapons and the precursors to them. these are all very toxic chemicals. this is something that will take a long time to try to dismantle even under the best of circumstances it would be difficult much less something like this trying to happen in the midst of a civil war. clearly the united states and russia are not friends right now whether it comes to this issue and are back to being cold war
adversaries. look at the united states looking after its interest, primarily israel, egypt, those kinds of things here in the middle east. obviously the russians looking after the iranians and certainly the syrians as they're at the negotiating table. whether they really come to a deal or whether we're talking about a strike in couple of days or a week or so, melissa, still too early to tell. melissa: feels like we turned back the clock. leland, thank you so much. cold war all over again. with everyone watching as russia takes a leading role in the syrian negotiations president vladmir putin put on an op-ed in today's "new york times" and it was interesting to say the very least. first, he warns a military strike by the u.s., quote, would increase violence and unleash a new wave of terrorism. then he slammed president obama's speech trumpeting american exceptionalism. but white house press secretary jay carney responded, pretty much with exactly what i was thinking after reading it. listen to this. >> there's a great irony that in
the placement of an op-ed like this, because it reflects the truly extension a tradition in this country of freedom expression and that is not a tradition shared in russia by russia. melissa: don't you think that is exactly why we're exceptional? we have a russian expert. and he has been directly informing u.s. policymakers on what's going on in russia. welcome back to the show, matthew. that's exactly what struck me when i saw this speech. here is someone who is not really a friend right now. who has been given the forum to go in our most prominent newspaper and harshly criticize our democrat exly elected leader and ourselves in a paper. that is freedom of thought and freedom of discussion and i think that makes america exceptional right there. your thoughts? >> it is very positive thing.
one of those moments you're convinced hey the system works. that said the system works in complicated and mysterious ways. a couple things going on here. of course "new york times" unlike many russian media outlets is not controlled by the government. at different times in history it has had different relationships with administrations. and so what its dog in its private interest. it is in the necessarily performing a public service. if the president of any country comes to a newspaper or a website or a tv station, says, hey i'd like to do interview, typically they will say yes. that is the way our system works. melissa: that is another freedom. that is free information in a free market. >> right. melissa: "new york times" is publicly held company. its stock trades. it does what is right to boost circulation. another freedom. >> the second thing going on here is also important. it is not just an empty piece. putin is making some very strong points. i think some of them resonate pretty well with a lot of americans like, for example, hey, you guys don't want to set another precedent of march to
war here. you don't want to be sucked into another war. we don't like islamist extreme i have. you don't like islamist extremism. i think he will have some sympathy and goes and pisses off a lot of american leaders talking about how america is not exceptional. it is clear he sees the world in very different terms. it is about power for putin. not necessarily about right or justice or even law although he talks a lot about law. melissa: there was irony and hypocrisy in what he said. our own julie roginsky wrote an op-ed on foxnews.com saying in part, quote, she came to this country because generation of our family had been killed, abused and disenfranchised simply because of our religious identity. they came from russia, from the former soviet union. what is exceptional a world power would provide a new life for us without asking about our ethnicity, whether we were members of the right political party or whether we associated d with those who spoke out against the government. that the united states asked us none of these things is what
makes it exceptional. and what makes what he said hypocritical. >> can't disagree with that. i think it's a true statement. melissa: okay. so does it undermined the rest of his points? >> yes and no. yes in the sense that when he asserts, you know something is fact. like he says the reason this civil war in syria is happening is because international forces are arming the rebels. well look, that's just not fact. that is a very cynical interpretation. the russians have been arming the regime. the reason for the civil war is how the regime has based including things like murdering innocent civilians, arresting people and throwing them in jail. at the same time, let's be realistic. this is major power player. they have the influence with syria. they have the ability to potentially help bring this thing to a peaceful end. at the end of the day one of the great things about america is moral leadership. the idea we care about getting to a right and just outcome. we don't accept a world where there is perpetual kay and
perpetual conflict. we'll need to work with the russians to get to that. the fact he is offering some kind of compromise and some kind of path forward i think that is very positive. melissa: matthew, i love you your perspective. will you come back? >> happy to. melissa: thank you. next on "money," the idea of cities seizing underwater mortgages coming to a head. it is one step away of igniteing a bomb the in the housing market. homeowners everywhere, listen up! this is so dangerous. you've got to see this story. plus are wal-mart's big win in washington. d.c. mayor signs with the retailer. the controversy over a living wage is far from over. we have a debate you don't want to miss. more "money" coming up. ♪
♪ melissa: a ticking time bomb, the housing market about to explode. the city of rich mopped, california, is making an unprecedented move -- richmond. seizing underwater homes using eminent domain. we talked about it before on money and it is very controversial and dangerous idea. basically the city can take over
your home and make it public property because you paid more than it is worth. nothing good i tell you for mortgage lenders. city residents have mixed reactions. listen. >> we're looking for a principle reduction. it would be refinanced down to the current market value which would make it affordable? >> what next are they taking my house and decide they will have a vegetable garden there? melissa: sounds like a pretty dangerous plan. former fannie mae chairman ed pinto and former cbo director douglas holtz-eakin. doug, is this dangerous in your opinion? >> this is terrible idea. this is misuse of eminent domain which is for public you are purpose. eminent domain requires fair value compensation we'll have lawsuit and lawsuit to determine whether the mortgages are fairly valued. it's a perverse to do. where are mortgage lenders will
be most afraid to lend? into areas that are hurt. we'll not help housing markets. not in the end going to ephad the people supposedly that will benefit from this. melissa: ed, i want to make sure people at home really understand the story. the city is going in and seizeing a mortgage from a lender at a huge deep dispoint. they immediately make a profit by selling it to the mortgage resolution partners. they then rework the mortgage and resell it. they make a profit. the people behind mortgage resolution partners, one ever them is graham williams. he worked at bank of america. while he was there he basically thought up and sold the subprime loan. he is one of the guys that bottom this ball rolling in the first place. now he get as second bite at the apple, to get this profit. in the meantime, you know the person in the house thinks they're geting a better deal because their mortgage has been redone? but no one else in the city is ever going to get a mortgage again because the rule of law is sort of out the window. is there anything wrong with what i just said? what are your thoughts on that? >> i think you've put your finger on it.
i mean we already know that fannie and freddie through their regulator, the federal housing finance agencies, has said, we're not boeing to be interested in lending in areas that do this. they're responsible for 60 to 56% of all loans. we know that fha has said, hmmm, we're not certain we want to even touch these initially. the whole program is based on fha provideing a take-out insurance after they make that second loan. so there's nobody that wants to touch this. then you have lawsuits have been filed by the investors. this thing is going to be tied up in knots as doug said, forever the only people that will be hurt are the people that live in richmond. melissa: doug, is it too dramatic to say if this really went through, it kind of undermines the whole mortgage system? >> this is a horrifically bad idea. i think you made an important point that shouldn't go unrepeated which is, there's a particular group of private investors who are going to benefit enormously from this. they're geting a government to aid and abet their profit-making
scheme. that is the worst kind of policy, sort of crony capitalism. and especially when it doesn't help homeowners. so we've seen this issue raised in other jurisdictions. thoughtful people said looked at it said, no, we don't want to go there. one hopes they will get another look at this in richmond, no we'll harm people more than help them and it is never a good idea. >> hope so. ed, isn't this is case of inviting the fox backs in to snuggle up with the hens in the henhouse once again when you look at these guys behind mortgage resolution partners? >> well, it does raise all kinds of questions about what the purpose is here. and is there a public purpose. i don't think there is. i think some of of the city councilmen that were voting against this, it passed but not unanimously, were basically concerned about the legal fees that are going to get run up. melissa: yeah. >> could that bankrupt the city? and as you know, some cities have gone bankrupt. this could really bankrupt the city. this is really a terrible,
terrible, policy they're undertaking. >> we've got to go, guys. thanks. we'll come back and talk about this again i'm sure because unfortunately i don't think it is going away. thanks to both of you. >> thank you. melissa: twitter confirmed the company is planning an ipo. with all the breaking news is our own charlie gasparino. what do you know, what do you have? >> i feel good about the story because last week we got a response from twitter when we asked about ipo they gave us ellipsis. gave us a fun story maybe the time they were confirming it. melissa: i remember that. >> we were attacked roundly by the hack journalists in the tech world. and we were right on the money. and me and freelance reporter here named katy roof. we should point out the fox business network has been reporting endlessly for the last year they're likely to do an ipo. the ipo, it's a filing. i think ipo is coming in 2014. it will take a few months for this to percolate. this is fairly interesting thing.
why i know they're doing it. look at shares of facebook. melissa: all-time high. >> all-time high. they feel now they have to act. i've been talk to wall street underwriters meeting with them frequently over the last couple days. it is a combination of twitter's share price which is basically gone up significantly. the fact that the fed is going to taper. there is the potential for a economic slowdown sometime next year. you get your money when you cap get your money. i would look for this ipo early in 2014. i don't think they can pull it off this year. we have three months left. you need a road show. what do you think. you've been covering this a while. i don't think you could get it together. you have to pick underwriters and an exchange. that can be done fairly quickly. it seems like, you know, this thing is coming in early next year. melissa: tough to do all would be one of very hot ones. something that get as lot of attention. would be a lot of competition. would think nasdaq would be really working hard to make their name good for everything that happened. >> this is ow we knew it was
coming. we were talking to people at the nasdaq, at new york stock exchange. i would talk to them for the last six months. they have been over the last six months informnally pitching them. i would point out there is no bakeoff just yet among underwriters. if you think morgan stanley is getting picked tomorrow. from what i understand, as of two hours ago i asked one of the major underwriters facebook ipo which will be in this ipo, have you given official pitch? there is no pitch book out there just yet. i think this is coming 2014. this is huge story. melissa: you were right. you were first. >> i just feel good about last week's story. you don't know what i put up with on twitter about that twitter story. melissa: it is always entertaining. >> what would my mother say to them? what would my mother say to the my haters on twitter in the tech world or you tech hack journalists? melissa: can you do that on television? >> no, as long as i don't say what it means. melissa: charlie gasparino, you're the best. thank you so much.
next on "money," wal-mart wins and d.c.'s mayor give as gut punch to unions. we have a wage debate of our own brewing. you don't want to miss it. the ceo has spoken and her words of wisdom are, women can't have it all. how dare she? is she right? it is our "money" talker. our panel is ready to sound off. do you have too much money or too much charlie gasparino? absolutely not. not possible! ♪ [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense of investing.
wage of $12.50 an hour. it is an huge increase from the city's current 8.25 an hour. strong views on both sides of the battle. here to debate it former national labor relations board peter someburg and demos, rich. great to have you on the show. rich, the mayor new the intentions may be good but the math didn't work. >> the math doesn't work for working people. imagine across the country, folks are working hard. citizens just want ad fair wage. unfortunately it was vetoed. but things are not dead yet. the veto could be overridden. we have to go from there. we can't just let wal-mart dictate terms of an economy where people aren't paid right. melissa: peter what is your response to that. >> well, the government shouldn't be in the business of dictating to employers what they should pay their employees this is democratic capitalism. but the fact of the matter is, the wage that wal-mart pay, minimum wage, this is for unskilled work. it is paid to seasonal workers, part-time workers and entry
level workers. every economy needs entry level workers. if a person wants to make more money, they develop a skill and move on. melissa: rich, you know what about that? bureau of labor statistics says 3/5 of the people, three out of five that get minimum wage are between the ages of 16 and 24. more than half of them do something else the rest of the time like go to school. >> but, most low-wage workers are women. most are trying to support families. and this so-called unskilled -- melissa: trying to support families when they're 16-24 years old? >> no, i'm speaking of people who are above 24 years old, in the retail industry, in the fast-food industry. these are everyday workers. so we're not talking about kids flipping burgers and or kids working at wal-mart to pay for beer money over the summer. we're talking about middle class folks triesing to raise a living. this unskilled work he is talking about, that doesn't mean it should be unfairly paid. unskilled work can be dangerous
and long hours. melissa: peter answer for that training for a better job? getting an education and getting some skills so -- not doing away with the minimum wage jobs. getting them to another level where they can do something more productive? >> that is absolutely right. and what rich is saying, you know, the mayor said appropriately so, that this legislation was a job-killer. would be 4,000 to 5,000 jobs that wouldn't be created in district of columbia. the district would have lost hundred of thousands of dollars in tax revenue. all of that which could be used to train workers for better jobs. melissa: rich, what is wrong with that argument? >> the problem with that argument is, putting money, earning money among middle class folks across this country, there's a multiplier effect whereby they go out and spend that money. therefore creating jobs and demand and boosting our gdp. and so that is specious argument to say, oh, it will cost us jobs. of course that is the argument wal-mart ceos are making but in reality it just doesn't hold. melissa: peter, where is the
money rich is talking about, where does it come from in the first place? it doesn't grow on a tree. it has to come from higher prices or fewer hours and rich might say corporate profits. that is not reality where it will come from. they will raise prices and they will cut hours. >> that is absolutely right. wal-mart although a very large retailer is a low margin business. it provide enormous benefits to the community as we as to its workers. you know, the worker at wal-mart may not be in the middle class. what we need to do is create middle class jobs instead of trying to create something where we can't create it. unions, for example, could use some of their political clout in order to pressure the white house to do oil and gas drilling we should be doing which would create hundred of thousands of jobs. melissa: rich, last word. we have only couple seconds left. >> peter knows as well as i, wal-mart is sitting on record cash reserves. they could easily afford to pay people and make a record profit like costco does. costco is wonderful example of an economy we can envision of a
fair employer we can envision that also make as profit. melissa: then you should boycott -- >> that is different business model. melissa: we've got to go. you guys thank you for a lively and educated debate. >> thank you. melissa: we appreciate your time. good points on both sides. next on "money," we've come a long way, baby. who says women can't have it all? burberry's female ceo, says, that's who! we have a all-star panel. buckle up. who is saving money today? not only does he pay any bridge or tunnel tolls he gets to do it in style. more "money" straight ahead. of the ♪ ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutioning power. supercharging turbines with advanced hardware and innovative software.
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>> balance is a very big word for the show ring that you can do it all. of naturally we needed our fox favorites to wait and. republican strategist, is this and the truth? are they fighting words? [laughter] >> i think she has the intelligent and thoughtful point. the ceo of a major company it has three children and a husband and she said here is our brink my responsibilities, a wife and mother first-aid and ceo second what she is getting right is you can have all but just not all at one time
meaning moment to moment you can be a great wife a and mother at the same time you make the executive decisions in the boardroom. melissa: i loved it that i thought of who she kidding? she has all. a phenomenal family fashionable head of an amazing fashion company she gets up at 430 in the morning every day. what is she talking about? >> she has an 18 hour day but she probably says i can compartmentalize my life and do it maybe even over 20 hours but you cannot achieve that level of success without sacrificing along the way. melissa: are you feeling ready and brave? >> i am sitting with the three women who do have an all. she focuses on the most important word that is balanced. having it all is the myth.
men don't have that all. is very simplistic and a nice to say we have it all but we don't. do we have enough to be happy? that is the destination. >> the key word is balance. she talked about priorities. even when we do have a cigarette -- successful career sometimes it gets out of lack. the friday before the last week of august i was so tired and vandenberg doubt i think i fell asleep. [laughter] i said i need a vacation to check back to reconnect with my fiance and i think you need to have that in your mind set. you are not a machine in a perfect mother a and a perfect life >> some of us are very critical to say i am not
there for my children you feel guilty all the time. there has to be give-and-take. melissa: that is interesting because the first thing we did was examined her life a and say what are you kidding me? you cannot have become a ceo without missing some plays. she said she is a at the same time however cheryl sandberg says she leaves the office of five and people say what do you do when you get home? are you on the blackberry but i bet you are still working. they put themselves out there. >> they do have all lots of help. >> it is a very important point. >> i have to say this. i will start walking on eggshells. she did say something that is not totally honest if you
look she is not following her own example. you cannot say as the ceo is more important to be a mother first. that is very hard to reconcile because in theory it is the most important job but if you're a female surgeon are you a mother first of the operating table? no. we have to come to a point where we realize we make certain sacrifices as long as the end justifies the means. melissa: he says some places -- sometimes? >> that was my point that moment to moment shift. the other interesting part is refocused solely on women. we don't talk about male ceos what is there work life balance? are they a father first? how do they divide their day? >> that is a great point.
but people don't expect men to have balance. but in our generation they want balance. maybe the older generation is work work work. but now they want the balance. melissa: it is almost more is acceptable to say i will be late because i am reading to my kids classroom than for a man to say that. is that easier for us or you? >> you are right. the expectation is of course, the mothers of first obligation will be to her children. if she successfully feels she can go to work then she will and have someone else help but she has a conflict the workplace under stevens stevens. >> i think it depends on the industry. law firms have the expectation they will have the work life balance but a word of caution to any ceo.
what you say affects your stock. she has to be very careful because you know, what shareholders to say what do you mean you are going to apply? -- a place. >> i only work one night per week. >> she is a fashion company it is supposed to be out there. when i read that i did think that the burberry shareholders are not happy to read this article. >> irresponsibility is also to shareholders and to your customers to produce products that they want to wear. melissa: very brave. very fantastic. [laughter] great job. tell me what you thought. coming up, flophouse where the best cities in the country to buy up or sell all or fix up a home?
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(train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. said. melissa: now our monthly installments. home of flipping is on the rise go get in the game. now we have the best bet on where to buy a of the reality of what you will spend. let's bring in our flippers who literally wrote the book, this. and the ceo of the hold --
home of flipping business. your areas where the best deals were to be made. >> the reason i picked philadelphia i go to the statistics looking at the markets that are late to the party. the ones that were the last ones to start their price increases. many cities now have already had tanner 20% price increases but philadelphia has remained flat and is just now starting to pick up with pricing and like they said on the price monitor baltimore and albuquerque. melissa: this is what makes me nervous. then maybe it's for a reason [laughter] >> basically because there was such a big flood of foreclosures and a short sales that is why you really want to check your statistics to see the
inventory shrinking inventory is shrinking then you know, the homes are up their prices will go up because the demand is getting greater. >> why did you pick your cities like boise? >> we're in those cities with over the last six months we have the greatest profit margin. but i do agree that flagstaff but also albuquerque. the next expansion of real capital is today mexico -- new mexico. melissa: what is the most important thing to keep in mind and what to upgrade first? >>. >> my overall concept when you buy a house they will flip it is not just a pate
and throw in some carpet i like to find a house that you can upgrade the lifestyle. i'll look for homes that meet the needs of today's buyers. open floor plans or the potential to create privacy. some of the stuff that people want now. i look for homes that have a great bonus with basic problems, not teardowns but those. >> that is a lot of religious speech give me some examples. >> i tell her -- i look for a kitchen that will open to the dining room. that is simple blood cavanaugh and load bearing wall. that is easy. i also look for houses were access is built into the outside. if the rooms go out i want to put in french stores a
very easy to do not out the window and a bill but that people almost double the size of the room without actually having to add any more square footage. melissa: how much she'd be able to expect to spend? >> usually between 20 and 25,000. we usually see the home price doubled every model cost. melissa: how do you get to that number? what is the number-one thing? >> the top floor plan is part of the top four. melissa: you say it is part of the entire package? >> i think homebuyers and people are misled that we see the charts. cost vs. return if you read
of your kitchen you will get 75 percent back if you renovate the bathroom you get 80 percent back but if you look at those statistics why would you bother? the key is they go see the big picture. when you incorporate the multiple if you add a kitchen and bathroom and landscaping all of a sudden the return does not stop at 80 percent goes up at 100 or 120%. that is the big picture in the charts are misleading. melissa: you say there are some renovations you would not do? what is that? seen them. some of them for example,, people convert their variety into a living space. when we do find that we tear it out to make it back into
a garage. melissa: why? made the day arrived? >> this is a consumer base business you are renovating a home for what they wanted and they want a ride. but bicycles them the stuff. melissa: for all of there john. we appreciate your time. the hottest ceo in the game and liz claman sat down with him exclusively a short time ago he is opening up about his biggest business challenges and we will break it down. you cannot have too much "money" if
melissa: it is time for "spare change". this is for you anybody else in this.but elon musk gave the exclusive interview on your show these days and everybody is assessed with his brilliance and his bizarre idea is to let us travel to new new york to l.a. in under an hour. but here is the conversation with the newest of session -- of session. >> we have about 48 missions under contract so we do have a bunch of nasa missions to
influence the next generation with hopefully get it to where it is possible to send people to mars. so far so good. the rocket business is very difficult a and it is certainly possible the mission could fail. melissa: are you going to mars? >>. [laughter] no. elon musk is great to have marketing. if you need a product you could do no worse in the universe than to have him. he is magnificent but the hyper lupine is even little luthier this going to mars. melissa: of 400 percent increase of his stock. >> he does great but i with some -- a wish you could do without taxpayer support he did need the government loan and he paid back but it was
$500 million. >> i asked him about that he set by a businessman it was the incredible rate and i took get. but i did not need it. >> every time you buy one of those cars you give a $7,500 tax credit. melissa: that is the government. that is not his fault. >> but could he survive without it? he also gets money from the zero e. mission in tax credits people say without those he would be losing money. >> do you think he is looking at the ceo spot for microsoft? >> i have not thought of that. >> exactly. people may say he is putting himself out there you cannot deny he is the innovator in positioning himself to takeover.
melissa: with microsoft he is working for other people but it is his show spee make you think that stock is worth $164 right now? >> based on the number of cars that they actually sell , they say that demand is out there to ramp up production then they should. >> a lot the short sellers were killed going up against this guy. >> he continues to extend himself out to more and more businesses just when you thought tesla was outrageous then use the more cars on the street and there is back-and-forth dialogue now he will send everyone to mars spinning key is the 1% to man all of his products deal with those millionaires he has to prove he can make for the masses if he wants to make the electric he has to prove it. >> did we have the same
conversation about steve jobs 20 years ago? >> people could buy the macintosh no normal person would of been average in come. >> that is a valid point. >> he does keep his stock on fryer. -- fire. [laughter] good work. he could throw his easy passed away. for bridging is a and tunnels right after this. congratulations. you can never have too much "money"
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melissa: on route zero and lost three '04 main street to is to make many. pandora. getting a big vote of confidence. the extensive experience of digital advertising shares surged 12% with the wake of the announcement. meanwhile losing money today is men's wear house including the founder and chairman of the company posted a weak second quarter results and lower the four year forecast. is getting hammered by 20 percent. but is never still owns shares and that means he lost $8 million today. also a custom car maker from pennsylvania unveiled a mini cooper that was also convertible boat. his cruise through york
harbor grab plenty of eyeballs said he does not pay any bridge or tunnel fees that saves him $13. we hope you made money today. please tune in tomorrow. >> hello. tonight on the "willis report." of the flash crash and the flash freeze and the stock price goes haywire. can they fix the problem? in the colleges that make the most money a i opening new report. how do you do that? the right way to shop at costco. we watch out for you. tonight. "the willis report." gerri: lots of good stories tonight but the