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tv   MONEY With Melissa Francis  FOX Business  November 13, 2013 12:00am-1:01am EST

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out, and not tell anyone. neil: put it in a mini ipad with a retina display. t bernanke. will he move markets again? we'll see. >> have you heard about the three 20 somethings that built their own version of the obamacare website in three days. guess what? it works. they will tell us how they did what our government couldn't right now >> all right. television repairman. ultimate set of tools. i can fix it. melissa: don't you feel like this is what we're getting too with obama care? everyone and their mother thinks they have the answer. give three 20 somethings, three days and amissing what they can do. everyone is talking about the guys you're about to meet. they went off built their own
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version of the health care website, in their spare time by the way, for fun. the kicker? it works. here in a fox business exclusive are the three men. thanks for joining us. let me start with you. why did you guys decide to do this? where did you get the idea? >> sure. we were trying to buy a health plan for ourselves. we have our own companies and looking to see if we can save money for our plans. when we went to the health exchange website, took us 45 minutes to see prices. we figured most people would lose their patience at that point. there has to be a better way to show the choices and options out there. melissa: george, is this a stunt? do you guys have, is there a political message behind this? are you trying to get people to sign up for your own business? there has to be, the show is called money. there has to be a profit motive in there somewhere. >> absolutely not. is not a stunt. we're hoping people find the
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right health care plan for them. it is about taking options out there and making them really accessible to people find the right plan, the one that works for them or their family. no stunts involved. no ulterior or secret motive. >> michael, i blogged on to the -- i logged on to the site. i tried for florida, because i live in new york where you aren't able to use your sites. in florida it was very straightforward. plugged in a zip code. talked about a specific person, right away different plans with prices came up that i could look at and click through and purchase. i went to the didn't have the same success. what do you think government has done wrong with their website that you have done right? >> well so you know i think we have a lost ability to very rapidly make changes based on real user feedback since we're three people. there's no, well we don't have to get anything approved before we do it. we go and do it and get it done
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and get it fixed. as the, as reports of issues with the site have been coming in, we've been able to immediately turn around and fix these issues. melissa: you know the structure is very different. when i go on your website, i see prices right away. with the, the idea you have to plug in a lot of information, psonal information and a lot of data. do you think that was a mistake and what do you think is the motivation behind that? >> i wouldn't call it a mistake per se. what does we don't allow you to do, sign up and collect the subsidy from the federal government. when you're talking about process you need to collect and fairfy more information. for us it is about showing you choices and estimating your costs accurately. it is okay if we don't verify with the irs or income. tell us your income and we can give you calculation. melissa: george, a lot said about the idea they don't want
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to give price because without the subsidy because they want to see the lower number out of the gate. as a result the user experience is lot tougher because you have to do a ton more work to get any result whatsoever. do you think that was a mistake? >> so, we can't really speak to the sort of priorities and decision-making process involved on the, shall we say policy side. all we know is sort of building websites and building users experiences. in terms of straight up experience that a user has, when they're looking for a health plan it makes a lot of sense to just say, hey, where are you and here's what you cn actually buy. so that is what we did. i can't really speak to the priorities and choice that is the folks building the government site had to make. melissa: michael, i would ask you, ask any of you, have you heard from kathleen sebelius asking for your help? have you heard from thehite house? have you heard from anyone in washington about this? >> no, not yet. and, you know, i hope that, you know in the future we'll actually be able to work with
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the government to get more, richer data sets. right now we're working with a very limited set of plan information. we're trying to quickly gather as much information as we can so we can reach as many people as we can. but really, you know if we had a broader data set that the government does have available we would be able to, you know, have a much larger impact i think. melissa: ming, what is your plan from here? is this a real business you set up with a profit motive going forward? was it just something you did in a few hours to see if you could do it? or is this a company that you're going to run? >> we haven't really talked about any sort of monetizaton or whether or not it is going to be a company. for now the goal is to provide the best user experience around, comparing and finding plans, understanding your subsidy options, understanding how you should go about getting your subsidy or getting your plan. so for now the next few weeks we're just going to focus on collecting user feedback, absorbing it, learning from it
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and improving the service. melissa: george, health and human services secretary kathleen sebelius testified she said that they had spent at that point, this was a while ago, $174 million. obviously it has been more since then. what do you think of that number and how much did you spend? >> so, i would just preface this by saying that the talks to the irs to determine your sort of income. it talks to homeland security to determine immigration status and it talks to the local, to the state health departments. so there's lot more complexity there than what we built. i think that is where a lot of that cost went n terms of our site it really only cost as couple hundred dollars to pull together. of course since it has become so popular it is costing several thousand to run the servers that provide it. but we're not talking that much money mostly because we kept the team very lean and focused on a very narrow goal. melissa: let me ask you because you're being very gracious. is your site less buggy than
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theirs? >> that's a tough question because we do so much less. >> okay. still gracious. gentlemen, thank you so much for coming on. we appreciate your time. >> thank you. >> thank you. melissa: up next, tesla gets totaled by none other than george clooney. the hollywood a-lister said elon's car is a lemon. all the word on wall street. we have the inside scoop on the hits that just keep coming. we may expect employers to screen social media accounts before hiring but college admissions officers? what your kids do as toons can keep them from the school of their choice. wait until you hear the impact. at the end of the day, it is all about money. [ male announcer ] if you have a dream of owning a business, find out why over one milliusinesses have trusted legalzoom to hp them get started. when you're ready to open the doors to your business, wel have a personalized legal solution that's right r you. start your business today with legalzoom.
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melissa: the gossip, the rumors, the inside word, money's got it all and today the hits just keep on coming for two of our favorite companies, starting with tesla. the electric car company getting slammed by none other than george clooney. just what the company doesn't need. especially after last week's report of a third model s going up in flames. and taking another hit, lululemon. the company's billionaire
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founder apologized sort of for his now-infamous comments on the yoga pants in a thank you youtube video. here with the word on wall street, is brian fazi. let's dig right in. i want to start with tesla. what clooney said in northern esquire in an interview. i had a tesla. i was one of the first cats of tesla. i've been on the side of the road a whilen that thing. look guys, why am i always stuck on the side of the f-ing road. make it work one way or the other. oh that has got to hurt, no? >> i think george clooney basically confirmed what we're all thinking about in terms of tesla. every dealership we pass in the mall, we're wondering how do we charge this thing? what if i'm driveing? i know it says it gets 450 miles, whatever. if it is snowing, is it raining, will the car be broke down the side of the road? i have videos on youtube with batteries going up in flames and
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people completely stranded. you have to make a big investment, 80, 90 grand in these cars. amen, george clooney for keeping it real. melissa: the stock is down 18%. we have videos of the fires everywhere. earnings are disappointing in terms of number of cars they sold and forward guidance even. now you have george clooney. it is three, sort after trend, no? >> well here's the most telling fact, okay. when you have a stock price reacting to youtube videos it tells you that, a, maybe this stock is overvalued and i think it is because as an investor that has been in this name, you're making really grand assumptions they're going to be able to sell lots and lots of the cars in the u.s. and overseas. they will have a lot success with the model x, the next version due out sometime in 2014. the bottom line there is only 21,000 charging stations in u.s. most of them in california. you need places to charge the car. >> you do but you have the three month chart next to you. i look at that, buying
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opportunity. this stock is still up 300%. some people are looking for entry point. elon musk is about as hot as they come. with these three things george clooney isn't saying anything we want to know. the fires, nobody wants a fire in their car, at the same time, it doesn't represent on a percentage basis a significant number of these cars. is there a chances this is a buying opportunity? >> who am i to argue against elon musk. he create ad jet that can get us to california in five seconds. what is tesla? tesla is the ultimate momentum stock, when momentum stocks go against you, every investor need to look out. is a long way down. i need better news flow and earnings from this company to halt the decline. >> i want to turn to one much my other favorite stocks, lululemon. ceo chip wilson went online with apology. let me play it and get your reaction on the other side. >> i'm sad, i'm really sad, i'm sad for the repercussions of my
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actions. i'm sad for the people at lululemon who i care so much about that really had to face the brunt of my okay shuns. -- actions. i take responsibility for all that has occurred and the impact it has had on you. melissa: thawas one of the worst apologies i have ever seen. first of all, looks like he is reading from a prompter. that is one of the classic apologies from the husband, you're sitting there listening for what i did was wrong, what he said he is sorry what happened as a result of what he said. not that saying that these women's bodies was the fault of their bodies. that is why the clothes were see-through. basically fault of your fat thighs why my pants don't work. he never took back what he said. he is sorry at the outcome. >> i am sorry because we had to watch that again. that was one of most absurd, put him in media training. very sad. you canot relate to him. how do you regain some of the problems, how do you clear up problems that were caused by
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this? to come off authentic. it is a 56 second youtube video off a prompter as you mentioned. the thing about lululemon he lost touch how a company makes business. you get customers through the store. he limited pool of people by saying this. 25% of the women population in the u.s. obese maybe starting to work out right now. they want to aspire to lululemon. he says hey, keep your money. take it to nike. take it to under armour. we don't want you in our stores if you're not size zero today. >> the whole point of lululemon as a brand, i'm someone who bought the products, no matter how you think you look in the workout pants we'll make you look better. we'll squeeze it into better shape to make you feel good about yourself when you go to work out. they also build sort after community in their stores of this zen feeling of acceptance. he is sort of destroying that whole thing in one shot. would you avoid this stock like the plague and stay away from this whole thing. >> i am worried about lululemon because you have a loose cannon
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founder. he is not even the ceo. >> no. >> shouldn't give these type of appearances. if he is going to the board of directors should step in to give you media training because he needs to be careful. as lululemon, the stock is valued everything must go right for next five to 10 years. what the market sell iting you the fact they have five suppliers, supplying 60% of their goods. they have to be more diversified. they're not gap. their sales are slowing. i think these media flubs are going to negatively erode the brand over time. melissa: absolutely. i think shareholders should get together and get a restraining order against him stopping him from appearing anywhere where there's a camera. that is only way to stop this problem. brian, we appreciite you coming on, thank you. >> thank you. melissa: up next on "money," the cost of social media on your kid's college education. the price they're paying could be much more than you ever thought. we'll tell you how. you have got to hear this one. do you feel like your boss is constantly breathing down
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your neck. you have something in common with the employees at sec. they're being subjected to intense work place surveillance. is it a case of micromanagement gone bad? we'll break it all down in today's money talk ir. do you ever
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melissa: acing s.a.t.'s and getting class president and that those are all good but if you don't clean up your facebook profile, it may not be enough to get you in college of your choice. a lot of applicants saying that their internet footprint may get them from being accepted into
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their school of choice. lacy, the let me start with you, according to a survey, 70% of the colleges facebook profiles african date are medium or high priority during the admission process. do parents and kids know this? >> i think they're starting to know this. i know of many schools that have been emailing article from the "new york times" around frantically to their seniors. some who already submitted their applications. so, i think, the lid might have been lifted off this just this week. melissa: adam, it strikes me that there are a lot of problems with this. even when, businesses go on monday and looking at potential applicants, their facebook page, social media footprint, you don't know necessarily the person you're looking for. it could be a fraud. you could make a mistake. seems like they're opening themselves up to liability here. >> they could be. i think it's a very serious problem. when you go on social media sites, take facebook as one example. if you go on facebook, a lot of people hack into accounts and
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post stuff. people make up phony accounts. you don't know if you're looking at really authentic to that particular person. imagine someone sends in a great application. it will get approved. of the grade, great recommendations and great writing sample. one individual person ran on someone's social media page. >> lacy, this seems like the plot of a great "mean girls" movie. you create a profile of person ahead of you and say some things in their name, the school goes on, looking at it, oh, wow, this girl is a real jerk. they don't know. go ahead. >> no kidding, all fair in love, war, college admissions. you're applying to be part of a community and the fantasy that the college can lrn so much from you in paperwork. it is not surprising to me they're digging to look for more. i have to think they have to be more careful to accept what they see at face value and turn a student down. one story i heard calling up a
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student to ask, is this true. the student went ahead and it was. they rescinded his admission. melissa: wow! adam, there's a lot of things that bother me about this there are freedom of speech issues. your hackles up? >> absolutely. you think of it to go on social media to treat your daily activities but really share your thoughts. imagine you're qualified to get into college, but because you have a certain view on a topic on an issue, the university may decline you because of the position. imagine the reverse. already in the university, going to the school, could they do the same thing and throw you out in your second year because you disagree on a political issue. the answer is no, they couldn't. melissa: lacy, the show is called "money," immediately when i read the article it cropped up in my mind there is a great business opportunity a thousand consultants born in the new york, manhattan area, hired
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by parents to help kids clean up the social media footprint and make it shiny for the colleges. is that a business that is going to take off now? isn't that true? i mean i'm sure you're exactly right. i don't think it is bad to teach kids what they put on facebook in the public sphere is actually in the public. that is no a bad lesson to learn, but to have it held against them especially at this age i don't think we don't want kids to be able to make simple mistakes. melissa: lace sir, you've done so much work in the field. you know better than i. kids having public page out there with all the club photos and things that they have done and charity work and this and that, giving that one to the school. totally separate facebook page under maybe a different name really for their friend and is their real website, right? >> absolutely. there are plenty of kids way ahead of consultants and doing that. they have an alter ego out there for the universities, which is no different from the cv they're putting together. good for them. this is a game and they're playing it and playing it as
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well. if they're down todayried enough to keep the mistakes hidden they're doing good job being adolescents. melissa: that same kaplan study, that 30% of the social media content hurt applicants talking to admissions officers. thank you both of you, good stuff. >> thank you very much. >> is the boss counting minutes away from your desk considering you absent without leave if your lunch is more than a half hour? the sec is warning its own workers not to do it. it has people's blood boiling. tweet me if you think micromanaging makes people more productive. it is today's money talker. "who made money today?" they are flying high and seeing nothing but blue skies ahead. even if you think you know i think you're wrong. "piles of money" coming up.
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melissa: how long would you say you stepped away from your desk
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for lunch or to grab a cup of coofee? you better watch out because all those minutes could be counted against you. case in point. employees the at sec are being warned that every break they take is being recorded and can be used against them. that's encouraging. it's a classic case of micromanaging. if you ask me probably the perfect way to upset your staff. do you like it or hate isn't today's money talker. here, julie roginsky, steve moore and ari zolden. what do you guys think? all about the badges that you have wear arounn and go through security and they can tell when you're coming and leaving, at your desk, what do you think. julie what do you think. >> i george brownies in the green room. melissa: there is camera in there, they know about that. >> congratulations fox, i'm only one that eats it. i hate it. melissa: you hate this? >> i hate it. if you have to micromanage people why would, my whole thing is empower your employees. let them dot thing and if they
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stink get rid of them. why micromanage them. if you want to step up themselves get rid of them. >> i thought it funny on sec is supplying on employees. that is okay with me as long as they're not spying on me. melissa: first thing i thought are the sec is feeling about everyone. if they're spying on employees they're spying on everyone. without question, right? >> when you take the job you're under the rules of employer this seems to be going a bit too far, monitoring everyone of your phone calls. where you're going, what you're looking at on the computer. i'm with you. if you're doing your job, you meeting the performance standards, you know, so what if you're -- melissa: maybe that is what this is about, ari. it is about people that aren't doing a job and building a record and saying look, your work wasn't what we thought it should be. when we look at the i.d. card you're spending all this time outside the building. you're not in your office or at your deck. no wonder you're not doing your job. >> having this tracking technology is phenomenal, right? melissa, you have a pass you
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check in. there is recording of where you are. melissa: forever. >> but in terms of actually, you know i think it is about effective management, right? you have a boss. you have employees. how do you actually encourage the talent to be able to really harness their good core deeds an be able to -- melissa: what would you do differently? what would you do differently? you have somebody, for example, every time you go by their office they're not there or their desk, they're not there. you're really frustrated. how do you encourage them? >> not so mh punishment. if they're not good we try to get rid of them. in first 30 days you can size somebody else whether or not they would be ideal employee. if they're not ideal employee, sitting down with them, figuring out hey what are your strong points and what are your pain points. if there are pain points a manager and boss can target or understand, it is goal of the boss to bring out the qualities of the actual individual and to pull out that talent. >> i really don't care if somebody works at me if they
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show up 9:00 and leave at 5:00. i don't care if they deliver it at mid midnight. i don't really care. they can do. melissa: if somebody is not puting a whole day. >> as long as deliver i need them to deliver. the task i hope -- >> julie, large organization it is very, very hard to do. melissa: right. >> if you're managing 500 people, as long as you give it to me by 5:00 p.m. and it's a fine. you come around and there is nobody there. they're in the brownie room. >> don't underestimate the brownies. >> that could be energizing you. >> now you're getting personal. now you're getting personal. >> being hit with a brownie over here. melissa: goes along the same lines. 54% of companies say they have stopped their employees from going on social media sites. they don't want, just because you're at your desk doesn't mean you're being productive. you could be on there -- >> my guys aren't on social media all the tile. it is troubling. i either facebook or pinterest.
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>> fire them. >> they are. almost, so -- melissa: yes you can. you are saying you can't stop them? yes you can. 54% of the companies do. >> the problem if you have somebody that is really good, right, yeah they are, spending 25 minutes a day, what do you do? say, hey, no more social media? then they have their phone. >> are they creating the product that you want them to create? if i were working at apple, someone told me design the new ipad which i know nothing about, said design the new ipad i don't really care what time it takes to the design it. i have a task and my job is to design the new ipad. i can do it at 1:00 a.m. and be on media 24 hours. >> collaboration is important. collaborate around the table to have face-to-face interaction. >> where do you draw the line here? do you want the cameras on your employees all the time? are you going to monitor -- melissa: aren't they already? >> monitor their emails? monitor their tweets. melissa: they are. >> i think that is invasion of
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privacy. i've been an employer. sometimes i walk by the person's office and person was playing card game on computer. melissa: or shopping online. >> that is simply, that is not something that somebody should be doing on the job but i'm very uneasy about all of this stuff being hacked by employer. >> is it reality though that everything you just mentioned is already happening. >> that doesn't make it right. melissa: doesn't make it right, yeah. >> i think that, employers shouldn't be snooping on you if you -- melissa: can read email. how much time you spend on whatever website. create a record whatever you've been doing. they do know -- >> i better one of us here, everyone watching the show has sent an email from work that was a private thing, that probably shouldn't have been done and don't want everybody reading it, right? melissa: reality they can. thanks so much. >> my pleasure. melissa: next, how millions of dollars worth of bit coins just disappeared. the exchange that was selling them was really stealing the buyer's money. wait until you hear about this. at the end of the day, it is all
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about vanished money.
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melissa: now you see them, now you don't. more than $4 million in bit coins disappeared, poof. at least a thousand investors were left out to dry as one trading platform completely vanishes. is this exactly the reason not to buy bit coins? here paul veena, from "the wall street journal" and former federal prosecutor fred tecce. paul, you followed this closely. it was a chinese bit trading platform. it claimed to be based in hong kong. it shut down. they had 4.1 million -- more than shut down, it vanished. >> basically vanished overnight essentially. they only came into existence in may and, this really shows just how speculative this whole bitcoin world is. how much of a wild west it is. it is very difficult to know
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who's a legitimate businessman, who is a scam artist. no barriers to entry, no rules, no regulations. if you break a law the government will come after you. there are no rules or regulations guarding what you have to do say banks do, wall street firms do. anybody can get in there. if they want to run a scam they can run a scam. hard for inverse tore to know who it is. >> from a prosecutor's point of view, was this bound to happen? >> bound to happen? yeah, what we call in the law is foreseably reasonable. i saw the guy whose name we don't know and 21 million of them. will never be more or less. look, the bottom line is this, i wouldn't put 10 cents more into a bitcoin than you can afford to lose. go ahead, i sorry. melissa: i was going to say, at the same time, baidu said they will start accepting it. more and more people are
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accepting it. it is huge in china is one reason the platform was started. more and more people are getting into it. senate lawmakers will have a hearing. >> here come the taxes. exactly. paul, i mean -- >> it here to stay to an extent. could disappear overnight. could get regulated out of existence or stay part of an underground economy. very hard to say where this is going to go. it is a very interesting platform. guy you're thinking of, pseudonym, nakamato say they invented it. nobody knows if he a man or group of people. there is lot we don't know about this. more and more people are taking it. you're right. melissa: people who believe it. go ahead, fred. >> first of all that sound like a name from "star trek." secondly the percentage, the percentage of people taking it on retail is a small percentage as i understand it, as versus
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the speculators in playing around wit. i'm with warren buffett. i don't invest in anything i don't understand. it is all very kind of complicated and very almost shady. so i can understand why people would want to use it. and i see more and more retailers using it but it ain't paypal. melissa: paul, it was going up and up. a lot of people were jumping on the bandwagon trading with it. a quick way to trade money like any other stock so to speak. it collapsed in april. now back up to -- >> almost 400. melissa: $400, based on chinese demand. there is a market. you talked with someone who lived off it, right? >> a couple lived for 100 days on bitcoin. they managed it but it was not easy. to fred's point there is not much to do wit beside speculate and trade. yes there are someplace that is take it but a very small percentage. to put the market for bitcoin in perspective, trading volume, it is very volatile.
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some days the trading volume is to the hgarian forent. tiny. some days 1/20 the size of that. very small market. melissa: fred, will the people see the money again the people who lost 4.1 million? >> no. they have a better chance going to mars. once they vaporize, there is no recourse and nothing to back it up and no one to chase down. the last exchange folded was 16-year-old boy living in an alley in australia. the bottom line, speculative. buyer beware. if i had a nickel for every person sat across my desk as a prosecutor this was too good to be true, this is the next one. melissa: thanks to both of you. >> thanks for having me. ♪ [laughter] >> who doesn't want to live the day in the life of an aristocrat. with that little extra help around the house, believe it or not butlers are big business
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these days. along with every kind of high-end help. they clean up when it comes to making a living. claudia khan is the founder of personal staffing agency, the help company, and tony yamaha is a personal butler. thanks for joining us. claudia, is thi a big business? everyone is watching down abby and see carson and the staff and suddenly it is back in vogue? >> you said exactly what i was going to tell you on the show today. absolutely. i think that -- melissa: tell me about the business? what are the calls you're getting, what are people looking for? >> i mean i think the most interesting thing last week or two weeks we had three different calls for butlers which doesn't happen that often. one in san francisco with a socialite. one in l.a. with a ceo and entertainment big guru in new york. all looking for butlers. melissa: tony is this a good job to that?
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i look at staffing about being a butler. starting salary is about $80,000. you can make up to $200,000. what kind of a job is it? >> well it is a butler job. it is modern butler is different than the butter before. well, you are 24/7, you know. like your butter, being a butter been married to a butler that. a new butler. >> he takes care of everything, from soup-to-nuts. melissa: is it just something we see on down and abbey? line up responsibilities for me. if i line up a butler, what can i expect them to do? >> it's a little different than the house manager. they're taking care of the person they're meant to pack for, serve the guest, packaged unpack the guest that is come. do errands. >> from the time you wake up and put you to sleep you know? >> tony says he works 14 hour, 15-hour days. >> it's a 24/7 job.
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melissa: what are some other things you're fetting calls for now, claudia? what does it tell you about the economy. i was looking at a lady's maid earning $75,000. i feel i need that. what is a lady's maid? >> that would be perfect for you. she will wake you up in the morning and wash your face. put your makeup out. put your medicine out. iron your clothing, underwear is pressed perfectly. everything that you could think of she will do for you. >> appointments. melissa: the way you described it though sounded a little bit intrusive and kind of creepy. i don't think i'm into that. are there a lot of people out there who are demanding this kind of service these days? are you seeing -- >> no. the lady's maid is actually not an increase but i would say the house manager, estate managers and private chefs has skyrocketed in the last two, three years. it's taken off like i haven't
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seen it and i have had the company 30 years. melissa: why do you think that is? >> i think the size of homes has grown. maybe huge homes were 10 and 12,000 square feet. now they're 25,000 square feet. it's a lot to manage. you need a lot of people if you want to enjoy your home. because it's a full-time job. if not, it is bigger than 40 hours. a good 60, 70-hour work week. melissa: tony i imagine you have pretty crazy stories based on working those hours? >> oh, yes. melissa: what is the most outrageous thing someone asked you to do? >> i can think of many, actually. >> think of something. >> when i worked for a miss taylor, elizabeth taylor, i was driving her one time on the 405 and shy look at me, straight to my eyes, says, tony if you have a daughter i want you to name her elizabeth.
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i did have a daughter and named her elizabeth. >> that is so nice. melissa: did you get a special bonus that year? how much did you make as a result of that? >> oh, yeah. she was a very generous lady. i mean, if i remember correctly. for christmas bonus, even gardener used to get $10,000 for christmas bonus. that is how generous miss taylor was. melissa: wow. at end of the day it is all about money. thanks to both of you. >> yeah, it is give-and-take you know. you know. >> thank you so much for having us. melissa: thank you. next on "money," melania trump caught up in a case of business gone bad and sexual allegations. she is heading to court for $50 million. that's spare change for "the donald." stick around to hear it all. you can never have too much money.
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melissa: all right it is time for a little fun with "spare change." today we're joinedly lisa and lee hawkins. thanks to both of you for joining us. so donald trump's wife melania is caught up in a mess of a legal battle that just took a turn towards possible sexual extortion. it is complicated but mrs. trump is hoping to walk away with $50 million which is spare change for the trumps after all. this is a crazy case. it is all about, she has a skin care line that she was supposed to receive royalties from the company who bought the rights. was in the middle of this messy breakup. that is where the sexual extortion comes in between two main partners. it is a mess, right? >> it's a mess. take it a melania and her skin care line suing this new skin care company. where the mess is coming in from
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minard and hilbert, a wall street titans friends for a long time. they have breakup. there are all the ancillary claims of sexual misconduct. melissa: she is saying she spent all the money promoting the brand. it never happened. never came out. lee, $50 million. basically it is money she spent promoting it and i guess lost opportunity. it's a big number. >> it is a big number but she had put the money towards due diligence. if she done that, she probably found that john menard and steve hilbert and john minute farred and fired him in a letter of 2012. it wasn't until february of this year he agreed to leave. this was going on for a long time. she could have done due diligence and know the partnership is dissolving. >> "the donald", all i does is do deals. how would he allow the wife to do the deal without knowing the guys were breaking up? you disagree?
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>> onus was not on melania trump. the onus was on new skin. of the eic weber was in charge of the corporation. whether men farred asked him to ten down in 2012. he asked hilbert putting money into new skin. the president had actual and apparent authority to enter into a contract. unless melania knew the fraud was being committed her skin care company -- melissa: it has got very ugly. there are claims that john menard tried to sexually extort stephen hilbert's wife, two main guys in chargings saying if he did not get sexually what he wanted there would be financial consequences. that is pretty ugly. >> those allegations came after the husband let go of the company. doesn't come at the time. my question why didn't you tell the police that? why did you come through with a civil lawsuit? melissa: yeah. >> the other thing about this, mrs. trump stood to get a million dollars up front from
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this deal. she got $100,000 more mentioning it on the "celebrity apprentice" show. it was a very rich deal and probably not a good deal. according to the company they only sold three units last week. melissa: $100,000 for her is only one purse. that doesn't get her very far. you think she will get $50 million? >> i think she is. melissa: you think she will get $50 million! because menard could have, he asked the court after the letters were not taken to heart by hilbert, he could have asked the court. list i need you to appoint a receiver. i need injunction to prevent contracts. it wasn't melania's fault. melissa: she has beautiful skin. i would buy whatever she is selling. thanks very much. "who made money today." he may be flying off the wings of someone else's news. i bet he is not complaining. we'll have the answer right after this. you can never have too much money.
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♪ melissa: whether it's on wall street remains street, here is to make money today, everyone that owns jet blue flying on the coattails of the u.s. air american airlines antitrust settlement. the airline could get some of the gates at that d.c. airport. wall street clearly loving it. the stocks closed up more than 6%. president andeo dave archer owes 844,000 shares, so h landed $396,000 today. not bad. i would take it. also making "money" today, anyone who has invested in this on the apocalypse stock
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portfolio. whether it should be fast or slow moving, the companies that should do well our moving lightning fast. is on the portfolio seven stocks including solar city college in iraq, and smith and wesson has jumped to an incredible 63 percent so far this year and tripled in the past three years, may be a harbinger of the end of the world. and finding money today, this kind bought a desk of craigslist for $150 but had to take it apart to fit it through his doorway. when he did he found $98,000 in cash proving that there are still some trustworthy folks out there. he immediately called the original owner and even went back to drop the money off. fortunately he did not walk away empty-handed. for his trouble he was refunded the money he spent on the desk. i think he was owed more than that. that is all we have for you. i hope you make a five today. tennant to modify that who is paying $8,000 for a video-game
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vacation and why. you will believe it. it is tomorrow at 5:00 p.m. right here. right here. "the willis the following is a paid advertisement from starvista entertainment and time life. let's turn up the lights and see if y'all have anything you wanna... yes? i was just wondering how you keep your nice shape? i keep it because nobody else wants it. is this a repeat show? no, we're live here, this is live. [laughter] how do i feel knowing that over 4 million dvds of the carol burnett show have been sold? [screaming] well, i'd say i feel pretty good. right on! the fans have spoken... my son ordered the collection for me, the time life collection. oh really! i bought my mom the time life carol burnett collection! i'm sorry to hear that. and the critics agree... genius... the funniest... winning a new generation of fans.


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