Chance. How do you regard it . Unlimittd but they are giving unlimited but throttling the data. What does that mean . Gerri that is not unlimited, if theyre throttling i cant use data so what is the point of that. Just allyoucaneat, not as fast as you can eit. That is what shaping here. Gerri i dont understand that. To be fair at t, theyre not only ones throttling data. This is something that happens for high bandwidth users. Here is the thing that is interesting, most people use well under a gigabyte of data per month. That is pretty standard. Theyre saying that they dont hit the throttle switch until they hit two gigabytes of consumed date that. That is going to target obviously a much narrower set of users but i get the idea. Gerri let me stop you there. That number doubles every year, simply the way we use this data. If the company will promote unlimited data they should give us unlimited data. The result of that for consumers, the proof in the pudding you can actually see video on your cell phone, you can watch tv show. It will put the promise out there, then you need to deliver. That is what the ftc is saying. Let me give you at ts response. They say the ftcs allegations are baseless and have nothing to do with substance of our Network Management program. They say theyre well within the regulations of what theyre supposed to be doing which they say is just alerting people to the fact that theyre throttling. They say they have disclosed that in that tiny little type that you see in your bill. If you ask most consumers they have absolutely no idea this is happening. Gerri right. You make an excellent point because this is incredibly shortsighted because what is happening as we consume more and more data, we got broadband and were eating video by the gigabyte. Gerri right. On a constant basis especially away from wifi, out on the road. Look, right now, people are starting to sell cars with wifi in them. How does that work . That connects to lte networks to deliver wifi in the car. Gerri huge demand as youre saying . Exactly. Gerri for consumers now the story is average monthly cell phone bill is 138 bucks and 17 of the average consumer budget each month is going to technology. When i think technology, what i mean is, cable, apps you buy, Privacy Software and of course all of this data that youre buying. Seems to me that this is a number that is growing like topsy and nobody is paying attention to it. Growing like crazy but on the network side, what theyre doing is scrambling and i think often struggling to keep up with consumer desires. How often right now do you have lte phone . You have four bars and wondering why things are crawling along on your phone . Gerri absolutely right. Its a lie, right . Just basically those bars are officially a lie. Why . Because Network Infrastructure is not built to a level to handle what we are sucking down en masse. So, the Networks Like at t, are they really have not caught up. Gerri they havent caught up. The way they do it is throttle so they can try and deliver some sort of a reasonable experience for everyone. Gerri is that the real reason or trying to get us off unlimited plans . That is the criticism from the ftc. Let me get to one issue before you go. We want to talk about mac books. 20,000 people out there who own mac books who say they are not working and not happy. All you have to go do is go to some of the websites where people talk about this. All you see are screen is blue. It is slow. It doesnt work. It is crashing. What do you think is going on there . And will apple respond . Well, first of all i would imagine apple is paying close attention to this, they have to. So these macbook pros are out, two to threeyearold gerri 2011. That are functioning sporadically with amd chips that are third party. Theyre not made by apple. That is the graphics chip. That is apparently faulty at least according to a lot of these people. But i want to take a step back to remind folks. When you see one of these change. Org petitions you have to know some people kind of pile on. Not everybody who signed up or i agree actually has this problem. Gerri i will read the change. Org position. Replace or fix all 2011 macbook pro with graphics failure. Everyone who bought a mac book pro spent a huge premium and did not expect to have a manufacturing defect. Quickly i understand youre saying a lot of people signed this and have no idea what theyre signing. What is interesting to me, i took a look at one of their lap pcs potentially to buy. I was blown out of the water at the cost. These people charge a huge premium for their products. Macbook pro gerri it has to work. When you have a word pro in apple product, that is highend product will be more expensive product. It means fewer people using it. But i would remind people of3 course go back to apple if you have do have this problem. They say in the petition, they say in the news stories that people are getting it fixed. It is just, the fix hasnt been consistent. Even the fix is not consistent . Wow. We reached out to apple. We want to know what they think about this. Gerri when you find out, lance, you let us know, 20,000 people are darn angry about it. Thanks for coming on the show. My pleasure. Gerri more on apple. Apple ceo tim cook firing back at retailers who are blocking apple pay. Last night we reported how retailers like cvs, rite aid, best buy are pushing shoppers to use their Payment System instead. Speaking at the wall street journals digital cooference in laguna beach, california, cook said apple pay was simply better for consumers. Fox businesss robert gray joins me from california, a beautiful shot there, with more on the story. Robert . Hey, gerri, what else would they say, right . Of course a little hyperbole. Tim cook was indeed touting apple pay not only as easier but more secure than its rivals as well, not missing a chance to say at the same time, those who are not working with apple, aforementioned companies youre talking about, quote, missing the boat as apple pay is off to a fast start. If you sum up everyone else thats in the contact with mobile payment at point of sale, were already number one. Not just number one, but were more than the total of all the other guys. And that, weve only been at it a week. And so i feel fantastic. I think it is great well, keep in mind it is a nascent marketplace. So a pretty low barrier there to entry or low barriers as f competition goes. Theyre off to a fast start indeed. Cook and alibaba chairman jack ma would like to work with each other on payments both on stage at the conference in laguna beach. They want to work on payments in china. This would give apple access to the Chinese Market and give alibaba a chance from going to be online Payment System to bricks and mortar. Gerri, very importantly, getting access to apple data about consumers. Gerri absolutely right. Very good point, robert. Tell me, is there talk about a tech bubble there . Yeah, that was a little bit of talk about that as you might imagine with some venture capitalists on hand. Marc andreessen, of course, one of the most famous vc guys, down from Silicon Valley talking about that. He fielded questions about the tech bubble. He said there are tens of billions of dollars out chasing big ideas. He said there are 15 what he called unicorns. Those are company that make it every quarter century. Every 25 years you get 15 Companies Make it to ipo and one billion dollar market cap. He said the only reason there may not be a bubble brewing, technology is expanding into new industries. He mentioned airbnb and real estate, technology was not a big player in before in such a big way. Talking about uber and lyft in transportation. As it continues to disrupt northern Traditional Companies in technology. That is opening up opportunities to find socalled unicorns. Well wait and see, gerri. He mentioned that valuations are running a little bit hot right now. Back to you. Gerri robert, thank you for that. There is more outrage tonight from americans enrolled in obamacare. After struggling to sign up for Health Insurance now they cant find a doctor who will take it. Joining me now, dr. Kevin example. He is author of the new book, women and cardiovascular disease, addressing disparities in care. Dr. Kevin, welcome back to the show. So this story, really caught my attention because we heard stories about people not able to find primary care physicians when they enroll for obamacare. What is going on here . I think the problem is bigger than just a few people. Oh, i do as well. I think obamacare claims access for everyone. Unfortunately there have to be providers available. The way Obamacare Exchanges are reimbursing now, a lot of physicians arent able to take the exchange insurance. For instance, medicaid is about 50 of the pay you would get from private insurers and obama care exchanges some are a fraction of that. Gerri weve got some interesting stories on reimbursements to talk about. Talk about first how many docs out there are actually saying i will take obamacare patients. It is not many. 214,000 doctors are saying were not going to take obamacare insurance and that sound like a lot because it is a lot. It is about 24 , about a quarter of all doctors out there. And you say it is because theyre just not making enough money . Hard to keep the lights on when you cant be reimbursed at level to take care of your own employees. To be honest with you, you have to see more patients in less time. You cant provide that longterm doctor patient relationship that is so vital to giving Good Health Care because youre shortchanged. Gerri let me tell you, that. Of time doctors get to spend with patients right now is very low to begin with. So if you put more pressure on that, thats a negative. I want to show you numbers about reimbursements, how the obama care plans actually stack up. Private plans, if youre covered by employer, consider that 100 coverage. Medicare 80 of that. Obamacare plans, 60 of that. So you can see there is a big gap between what is being covered and what the docs are really carrying on their backs. What other problems do you see with obamacare . I know you accept it in your offices. Absolutely. We see frustrated patients. Patients in the initial signup phase had great deal of difficulty signing up. They finally get registered, there are errors in the signup and they have to resolve errors. We have tons of people without insurance that are frustrated because they dont care. Gerri i understand a lot of people are shocked what theyre having to pay for coverage because it is not nothing. Exactly. It is going to go up even more. As we talked about gerri premiums are high. Really have to lay out a lot of dough. A lot of people have high deductibles catastrophe premiums. Didnt get enough young and healthy to sign up. So we are now having to try to pay for this with folks that are actually very ill and using the health care. So it is a very costly endeavor. Gerri so, obamacare, rolling out a Small Business portal. Talk about your cold comfort. First of all, it is a year late. They said they would roll out the insurance portal for Small Business, not for individuals but Small Business as year ago. Didnt get it. Didnt get it because they were having so many problems with the original website. Now it rolls out and you cant even do anything on it yet. Why is that . Well i think its a purely political reason. Think that obama is very smart president. He is waiting until after the midterms before you can see what these premiums are going to be. Because, as you know, the senate is up for grabs never before. I think plays a big role. Gerri i also think that, you know, original obamacare is also delayed until after the election. So, goes theyre playing it smart, close to the vest. Dr. Kevin, thanks for coming on the show. Thanks for having me. Gerri still a lot more to come this hour including your voice. Your voice is important to us. Thats why during the show we want to you facebook me or tweet me gerriwillisfbn. Send me an email. Go to gerriwillis. Com. At the bottom of the hour i will read your tweets and emails. Up next, what are the most reliable cars on the road today . 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Wham a minivan tbones you. Guess what your Insurance Company will only give you 37thousand to replace it. Depreciation they claim. How can my car depreciate before its first oil change . You ask. Maybe the bebetter question is, why do you have that Insurance Company . With Liberty Mutual new car replacement, well replace the full value of your car. See Car Insurance in a whole new light. Liberty mutual insurance. Gerri we have some breaking news. The department of Homeland Security beefing up security at federal buildings in d. C. And across the country. Fox businesss very own peter barnes joins us now with the latest. Peter . Thats right, gerri. The department of Homeland Security Just Announced that it is increasing security at 9500 federal facilities owned or leased by the General Services administration here in washington and around the nation that, that welcome 1. 4 million visitors and workers each day. Obviously this is coming in the wake of threats against the United States by isis, for one, and other terrorist organizations, and a possible lone wolf attacks against the u. S. Like the kind we saw last week in canada, the lone wolf attack on the Canadian Parliament in ottawa. Dhs secretary jeh johnson says in a statement, quote, were taking this action as precautionary step to safeguard u. S. Bought personnel and facilities and visitors to those facilities. The reasons for this action are selfevident. Continued public calls by terrorist organizations for attacks on the homeland and elsewhere including against Law Enforcement and other government officials and the acts of violence targeted at government personnel and installations in canada and elsewhere recently. Given world events, prudence dictates a heightened vigilance in the protection of u. S. Government and installations and our personnel. So this would affect governments like the Treasury Building in washington, d. C. , irs offices around the country. I would assume state Department Offices that process passports and things like that and so these are, again, 9500 government facilities. Probably most of theme here in washington, d. C. But also in major cities around the country. Gerri . Gerri peter, before you go, quick followup questions. Did they say why they waited so long to put this in place . The events in canada happened this week. Senior u. S. Officials telling colleagues at fox news that isis and one other terrorist organizations both publicly threatened to retaliate against the west. Were taking all necessary measures to protect u. S. Interests overseas and at home. This order would cover facilities it appears just here in the states but we did hear from jeh johnson last week there were some steps being taken. This appears to be a more of a formal announcement but obviously, for the federal officers on site at these places, would have been, would have automatically taken extra precautions in light of the attacks on the Parliament Building in ottawa last week. Gerri peter, thank you for that. You bet. Gerri and now a big change here. Meanwhile, if you are in the market for a new car and want to avoid buyers remorse Consumer Reports has listed the most troubleprone cars out there and the most reliable. Here with the results of their annual Auto Reliability survey is the deputy auto editor for Consumer Reports. John, welcome back to the show. Always good to see you. Same to you, gerri, thank you. Gerri this is much awaited list by the way by consumers. People follow this list. They like this list. Tell us what do you consider when youre trying to evaluate reliability . Certainly. Gerri, as you know we go and survey our seven million subscribers to our print and web publications. We ask them what they had go wrong with their vehicle over last 12 months. We compile the data to predict what will go wrong with new cars, 2015s. We have data on 1. 1 million vehicles. Were confident we can tell people what is going wrong with cars and how it will affect new models before manufacturers address it. Gerri before we get to the new list, i understand one of the big issues, infotainment, these Big Technology laden parts of the car, people are unhappy with. Why . Everyone gets in a new car almost, navigation, radio, Climate Control system. Really cool looking and talks to your phone except when it doesnt and pairs with your phone to use voice commands except when you can and gets you on the trip with directions except when it freezes up. Thats a big problem. All the systems are not working way you expect. With Technology Moving so fast with phones and bluetooth protocol and car is delayed and behind. They crash, they freeze. Lets get to the list and to the money. Least reliable cars, what are they . 500 l. That is small Little People mover. Came out this year. Has problems with the view connect infotainment system like we talked about. Transmission was problematic. Ford fiesta, the small car had a lot of problems with the transmission and automatic for a long time. Then, just to show it is not cheap cars, mercedesbenz cla. That is a new car. Entry level mercedesbenz. Had problems with the engine, Audio Systems an electronics t starts at 30,000. Goes well into the 40s. Gerri wow, im sure theyre not happy to hear that. Flip side, most reliable cars with toyota scion. Scion is traditional, long running model. Has no hightech stuff. A little box on wheels but useful. Lexus 200h is hybrid. It doesnt perform well in the tests. We dont recommend the car but really reliable. Lexus hybrid we recommend, 200h sedan. Comfortable car and great economy. Gerri least reliable su haves, what are they . Looking at some suvs out there from jeep for example. Jeep cherokee diesel, Nissan Pathfinder with poor reliability. Diesel had connect issues. Pathfinder with problems with infotainment system. Jeep cherokee, brand new problem. Four cylinders had models with you connect system and nine speed transmission. Lot of issues with bulky and not shifting very smoothly. Gerri we have reliable suvs. If we have the downside talk about upside. Talk about the mitsubishi outlander. This is kind of a small suv has three rose if you need three rose of seats. Not impressive overall but reliability is solid on that car. They basically, dont have a very big line, mitsubishi so they focus on it a lot. Toyota highlander perennial top pick. Per ren eel model with high reliability. Seven or ate passengers. Comfortable, competent car. Lexus rx is similar. Only two rose but lexus luxury version. Same engine. Get it hybrid and conventional gas version. You want luxury and fuel economy and reliability look at those. Gerri great stuff, john. I hope they get the infotainment pretty soon. Me too. Gerri thank you so much. My pleasure, gerri, take care. Gerri we want to know what you think. Here is our question. What should automakers focus on, reliability or bells and whistles. Lock on to gerriwillis. Com. I will bring results after tonights show. New york state is jumpstarting business with startupny. An Unprecedented Program that partners businesses with universities across the state. For better access to talent, cutting edge research, and state of the art facilits. And you pay no taxes for ten years. From biotech in brooklyn, to next gen energy in binghamton, to manufacturing in buffalo. Startupny has new businesses poppg up across the state. See how startupny can help your business grow at startup. Ny. Gov gerri and facebook just releasing its Third Quarter earnings after the closing bell. The social medias revenue jumping 59 percent in the Third Quarter to more than 3 billion. Earnings 34 cents a share. Guess what, wall street doesnt like the report. The stock trading down after hours. The chief strategist for united advisor. Scott, beat on the top line and bottom line and still youre getting hammered by wall street. Why is it . I think theyve got this one wrong, gerri to be honest with you. The numbers are really good and the stock is probably becoming a victim of its own success. You know, the numbers at which its growing are really staggering much like other companies that have flown close to the sun, apple and some others, google another one, the bigger you get the harder it is to beat these barriers. So the street treats you negatively after this. Gerri we could be getting some information that, you know, . that will be new and fresh and maybe thats whats driving it down. I understand that its actually flat user growth that is the problem for this company right now. And, of course, thats what its all about. Right . It definitely is. A couple things within the user realm though that are interesting is the monthly active users and the daily active users are up over that period. So another thing gerri, that if you look at the headline, it looks so so, but if you dig in, its not as bad. Ill tell you another thing i like about this number, mobile advertising is giant. Mobile advertising is the way these companies are going. Facebook was getting almost 0 from their mobile ad space. Now its close to twothirds of their advertising revenue. Everybody is using their tablets. Everybody is using their iphones and things like that. If you look at how facebook is adapting, its very impressive that their Revenue Streams are growing in that space. Gerri you were comparing facebook to twitter, and theres o comparison really. When you look at the monthly users, Something Like 125 billion. Twenty a lot lower. What kind of comparisons would you make to these two companies . And i think its interesting in some ways these stocks are getting taken out to the woodshed. Is there some rethinking of technology . Is this bubble about to burst . No, i dont think so. I think what youre seeing is some repricing which is certainly to be expected after a lot of these companies have hit pretty big highs. Twitter is interesting, the relationship between the two of them is big brother and little one right now. Facebook a way of life and twitter is kind of a toy. Twitter is not really monetizing. They dont have the user base so they cant get to the facebook realm. If you own twitter, i wouldnt bail on it. Twitter is getting to the point where its pretty attractive. We own facebook, by the way, maybe a take over candidate for twitter. Gerri interesting. In terms of facebook, theyre facing a lock out expiration coming up. That could drive the stock lower. Whats your expectation . More people will probably sell. Its up a good hundred plus percent since the ipo of 38 that everyone lamented a few years ago so certainly it would be right for people to take some profits off the table. Gerri, weve seen these lock up periods expire in the past, thats a good entry point. This is no different. Gerri i want to ask you a question about peter thiel, the very famous investor, just wrote a book. Got a lot of coverage. Hes very critical of whats going on in the west coast. He says that Companies Like facebook and twitter, what it is app, all these Companies Need to be doing something more serious. They need to set their sights higher. What do you make of those comments . Make machines or furniture . I tell you what, i think theyre doing serious things and i think thats the whole thing. The next round of business is this. This is cuttingedge technology that the numbers alone support, gerri. . i mean, instagram, facebook bout that for a billion dollars. That was probably a great buy. They have yet to turn what the sa app into a revenue stream. Maybe he means the prices, but overall its the way of life for these users. And i think theyre smart to capitalize on that. Gerri thank you for that. And coming up in the next hour on making money, Charles Payne will have much more on todays facebook earnings announcements. And coming up next, a nurse after being infected with ebola in dallas is now virus free. Well have the latest headlines on ebola. And more on obamacare as we look at what employers are doing to try and escape this years penalties. Dont go away. Gerri the second dallas nurse diagnosed with ebola after caring for a liberia man who died was released from the hospital today. Amber vinson spoke to the media as she left emory hospital thanking her family and those who cared for her. Her case caused panic after it was known she flew from as always were covering all the ebola headlines for you. And in other health news with Companies Facing thousands of dollars in fines next year for not offering Health Insurance to their employees under obamacare, employees are pursuing other options to avoid those Obamacare Penalties and hold costs down. Ben guire hon. Great to have you on, ben. Thanks for coming on the show. Lets talk a little about, we say 2,000, what are Companies Looking at in terms of additional costs. The kroses significant. They face fines which are very significant. The big problem for the companies is they have an employer mandate which they must offer Health Insurance and all their employees are required to have insurance. So what theyre looking at especially companies with lots of low income workers who in the past had not been offered or not taken Health Insurance is bigger costs. Gerri and especially the Small Business operators. Right . Who are struggling to deal with this. What are you recommending they do . Whats your role. If youre smaller than 50, look at not offering. Honestly youre not required below 50 fulltime employees. You should consider not offering it and your employees, but if youre bigger than that, and youre under the mandate, we see a combination of things you should try. First youll have to offer some kind of plan. You have to offer the minimum value plan. Gerri the skinny plan. Thats right. And those plans are what you see on the exchanges, bronze plans. They have a 3,000dollar deductible, they cover all the basic Health Insurance plans. Theyll cost you 160 bucks. Gerri theyll cost you a lot up front and even these Companies Offer these plans and moving towards them because the high cost to health care. Theyre going with these low cost plans because thats what they can afford. Especially in the low income space. Gerri what i find really interesting is that youre helping these companies enroll their employees into medicare. Explain why thats a good solution for them. The policy is written in very smart ways. There was going to be a population that was never going to be able to afford Health Insurance. If you make less than 20,000 a years, you wont put 150 a month. So for that group, medicaid was expanded to allow them to go into that program. Okay. Well get your folks into medicaid, when you offer them a plan, with the copay, theyre just going to choose medicaid. It covers my kids, covers me me, doesnt have a premium. Gerri what youre recommending to these folks is legal . Its totally legal. Youre still going to offer them the plan. The issue is, do i want to take 150 a month out of my paycheck to pay for the bronze plan or do i want to keep the medicaid plan i already have . Gerri now, i know what youre thinking at home, youre thinking what is the name of this guys company. Its called ben stream. Interesting to hear from you. I know companies are struggling with this one. Now, we want to hear from you. Consumer reports has named toyota the most reliable brand on the name. And knocked others for focusing too much on technology. What should the focus be. Heres what some of you are tweeting tonight. Rick reliability and we dont need to give drivers another distraction while driving. And on facebook, mel unfortunate, but bells and whistles are here to stay. The messages are the best theyve been doug they should focus on quality control. Stand behind your product. Its the american way. Unfortunately some of those makers arent paying attention to that. When were coming back, were looking out for you and your money with the latest on bond funds. From housing to vacations, well take a look at the growing list a member of the middle class cannot afford. First, heres your consumer gauge. Well be right back. Astonishing. What was your reaction to that list . Shocked. Its absolutely astounding that 44 percent of those surveyed by the harris poll have savings no greater than two thew thousand dollars. These are numbers you would associate with the 1960s and 1950s. The middle class is shrinking rapidly. Gerri lets get to some other numbers that tell the story, which is that its been nine years since americans have had a pay raise for goodness sakes. Income is completely stagnant in this country. Thats one reason people cant afford anything. Thats so true. Were facing ever increasing competition from the always cheaper and increasingly skilled work forces of emerging markets. Many americans took on too much debt during the housing bubble. Gerri we spent months and months paying this debt down. I think what americans have been doing is extracting themselves from credit card debt. Extracting themselves from mortgage debt. Theyve been putting themselves on a more solid foundation. Its hard to improve dramatically when you have no headroom. When your income is not growing. When you lose a job and cant find another one. At the heart of this, isnt this a lousy punk job market thats causing so much pain . Its the lack of quality jobs shrinking the middle class of america. Until that changes, well have more of a problem with the middle class. Were probably going to be facing some unexpected instability by household spending. I dont think the equity market and bond market fully recognizes the extent to which weve lost middle america. Gerri thats very interesting. Well, this is just a depressing segment and im trying to make it urgent its tough to take. 51 percent says theyre lower class or working professionals. More than half of americans. Are you surprised by that . The real median Family Income has been declining ever since 2004. Thats some time ago. Thats a tenyear span. So this isnt a total surprise. Its gone largely unrecognized by the markets and many others. Gerri top financial roadblocks, one of them the cost of housing. 24 percent say that. Weve got some numbers today. We thought we were out of the woods on the housing market, it turns out, we could have another stumble and fall. Thats why the government is moving for a relaxation of mortgage standards. We have to go back to the subprime Mortgage Loan in order to put housing on a stable foundation. That doesnt make sense. Most cant afford a 20 percent down payment on what is housing. Gerri investors got in there pumped up the prices promptly left and now regular americans cant afford the housing. Thanks for coming in. Well, ive got some good news as a result of falling oil prices, the pain at the pump is yet again to fouryear lows. Gas prices down 40 cents a gallon and according to aaa the average for a gallon of gas, 3 and 3 cents and falling. Memphis tennessee has the cheapest gas. Still to come, my 2 cents more. Bond funds. How to get your hands on these cheaper investments appearances coming up after the break. Gerri the biggest names in the Mutual Fund Industry slashing their fees on their flagship funds putting more of your money to work for you instead of into their pockets. Should you invest in these . How do you do it . Jeff is the head of research at lipper, a thompson rioters company and hes here to help us crunch the numbers. Appreciate your time. Is this an effort to eat pimcos lunch going on here. I definitely think so. Its an aggressive move, but generally black rock is not considered one of the top names in bond fund management. To put this kind of cut in front of investors i think is a move to steal market share. Probably not a huge expectation that theyll take the majority of those assets from pimco. Gerri just to remind our viewers pimco was founded by bill gross and he left that company to go to work for janice. Weve seen a lot of outflows already. I want to focus what these companies are offering. Some details here starting with black rock. Lets dive right into what theyre doing here. Right. The black rock total return fund is slashing the fees on its institutional share classes from about 75 basis points down to 45. So its a very aggressive cut. A 40 percent loss of fees on that. And theyre definitely trying to get under the radar to encourage gatekeepers and others who make decisions about 401 k plans to start thinking black rocks total return product if theyre deciding they need a new total return bond fund in their portfolio. Gerri theyre cutting fees on their a shares, core bond institutional funds, low bond b shares. Kind of acrosstheboard. Some people may look at this and say, well, gerri thats institutional shares. It doesnt matter to me. But it does. Right . It certainly does. This is how a lot of smaller investors get access to these managers through 401 k plans. Very often if you have a good size 401 k plan, youre already in the institutional share classes. These arent for high network families. These are mutual funds for the investor with enough people on the plan, you get that. Gerri lets talk about lord abwho are they doing. Theyre another one looking at the investors leaving pimco and they say weve got products competing very well. Theyve got the short duration product which have been soaking up assets the last few years. Its a little less aggressive than pimcos return. That works well for investors who are concerned about where Interest Rates may end up. Gerri total return Fund Institutional shares. Lets talk about oppenheimer. They have a Core Bond Fund what are they doing with their a shares there . They too are looking at fees and theyre definitely positioning this product to steal market share. Theyre lining up to see who is going to be left after a few more months of outflows from pimcos total returns and who will be the recipient of the greatest largest. Gerri theyre charging for institutional shares, but whats interesting, i think is janice. Because this is why bill gross went to work. Boy, that fund is expensive. . yeah, are you talking about the janice fund . Gerri yeah. Yeah, its really not a big fund. Couple billion dollars behind it. The one hes taking over is called unconstrained bond fund its about at 65 or 70 million or so and its definitely not something that people would turn to once they left pimco total return unless they were a big bill gross fan. Gerri what are you hearing from Money Managers who are talking about these issues . Are they leaving in droves . Whats the sentiment out there . Well, weve heard a lot of varying opinions. Some of them are real pimco fans. Theyve been with the firm. They know the managers besides bill gross. They feel comfortable with the process thats been left in place. Others have said this is far too much drama for me. Id rather not see this much turnover they top and theyre voting with their wallets. Gerri thanks for coming on the show tonight. Well be right back with my 2 cents more and the answer, what should automakers focus on, reliability or bells and whistles . Gerri finally, you know, im still steaming about at t throttling data speed. They told consumers they would slow down data speeds, but you had to read the ago ate type to find it out. Earlier this month, regulators called verizon into question for the same reason throttling our network opt mission. Verizon turned on the dime and stopped the throttling. If you have a cell phone and use it to download videos, you know this is happening. Companies need to deal with consumers in a more direct way. Clearly explaining policies instead of hiding the bad news in fine print. Theyll create a lot of loyal customers that way. Thats my 2 cents. Making money with charles spain coming up. Have a great night. Charles im Charles Payne and youre watching making money. Much higher gear. The major indices closing at session highs. The fear merchants one more day before that big fed announcement. Lets go to Nicole Petallides with all the big news. Nicole. So what do you think, charles, do you think people are focusing back on the fundamentals looking at earnings. Once again so many earnings we did get some numbers on consumer confidence. We saw that jump. We saw a slew of names hitting new highs, including apple, facebook, alibaba, procter gamble. Nike pep we saw a lot of those. We had the
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