Transcripts For FBC The Willis Report 20150127

Country. The reverend Steven Carlson is here to tell us why he is going after Jpmorgan Chase. Live a better life today. The author of a groundbreaking new book is here. What the over 65 crowd can teach us about family, love and money. All that and more coming up on the willis report where consumers are our business. Gerri we begin tonight with stocks in free fall. The dow dropping 291 points almost 300 points. Look at that, after a batch of bignamed companies missed expectations. Wall street also reacting negatively to u. S. Durable goods orders which tanked in december. So why isnt obamas highlytouted recovery showing up on Company Balance sheets or consumer wallets . Were asking our allstar panel. Steve moore heritage foundation, grover norquist, president of americans for tax reform and fred barnes editor of the weekly standard. All bang up panelists. Steve, i will start with you. What happened to this muchvaunted recovery . Caterpillar, microsoft dupont, p and f, across the board all kind of sectors all these Companies Reporting down earnings. What do you say with what is going on with the economy . I would say, perhaps Gerri Barack Obama did the icky shuffle in the end zone a little prematurely last week when he talked about the how great the economy is doing. As you though i think we switched to a faster gear on the economist. I think were growing closer to 3 . I have to say this is a real set back. The thing that disturbed me more than poor Earnings Reports that came out today was the durable good orders falling because that Means Companies are starting to retreat a little bit and thats been, if you look at the American Economy over the last five or six years thats been the pattern. Every time we start to show signs of life we retreat again. Gerri really a barometer of corporate health, that number, absolutely true. I want to turn for a second what is growing on going on with incomes. Interesting report from ed lazear, used to work in the white house a couple years ago he said couple sectors completely retrenched, highpaying sectors Like Health Care and banking. What does that tell you what is going on with this economy. Makes a very interesting point. That the sectors that are not hiring more people, that are higher paying are the ones most damaged by obamacares implementation in the Health Industry hospitals, and so on and doddfrank and all of our focus on the damage that obamacare has done and is doing we havent spoken and focused enough about the damage and destruction of highpaying jobs by dodd strange the mega doddfrank megaregulatory regime for financial institution. Banks all over the country have gotten killed by this thing. A lot of those jobs belong to Community Banks that serve small community. Fred, i want to get you in here. New numbers out from the cbo saying that obamacare will cost each and every american 50,000 bucks. How can this be true . Obamacare is expensive. That is how it can be true. Remember the numbers that the president and everybody who helped him sell obamacare turned out to be wrong almost immediately and where is the 2500 that he have family was going to get as a reduction in their health insurance. Gerri right. The price of health insurance, it was all wrong. The problem with the economy is that, it will have some blips upward, but all the things that are restraining the economy, all the policies of the Obama Administration remain in place and he wants to make them worse. He wants to raise taxation on capital. He wants to raise the Capital Gains rate. Gerri absolutely true. Tax on dividends and so on. And whenever someone proposes to ease the burden by changing the way the Financial Community is regulated or by some change in obamacare, like making it, you have to work 40 weeks to be a real fulltime employee to be subject to it any change, the white house goes crazy in opposition. Gerri i want to bring grover in, were talking about a 50,000 number from cbo you say that may not be right . Yes. Because the cbo report doesnt score 15 different taxes. Remember in obamacare there were 20 taxes inside of it. It really was a tax bill sold as a health bill. 15 taxes. Tanning tax and some taxes on investment, the tax on charitable hospitals. Those taxes just arent covered by cbo and people wonder why economists are unhappy with cbos track record. They left 15 taxes off. Gerri unbelieverrable. Steve, fascinating study that want you to comment on. There is a new study out showing that texas is singlehandedly responsible for all the net jobs in the economy. How can that be true . From 2007 through the end of 2012 texas, texas created more jobs than the other 49 states combined. Rick perry pretty good story there to tell, doesnt he, gerri. Gerri the republic of texas. They dont look to washington so say, thanks so much for the help. Right. Obviously this is driven by the energy boom that happened in texas. Texas has nearly tripled its oil and Gas Production the last several years. Just the result of the fact, if you read my book, gerri, on the wealth of states, texas just does about everything right. They have no income tax. They are a righttowork state. They have a light touch of regulation. All of those things bringing jobs and bringing capital and businesses into section sass. A million 1 2 people just one statistic, a million 1 2 people left california more than come into california. If you go to Texas Houston san antonio, you will see a lot of california license plates. Gerri apparently airlines are changing holiday schedules because of exactly what youre describing here. Seriously, it is fascinating. Fred, before you go, i want to ask you this, we have the Federal Reserve meeting this week. All eyes on the fed. Are they going to raise rates given the news we had out already this week . What do you think will be their attitude . I am not a great fed watcher but i think they know the economy is not growing that well. They can assess it honestly. I would be surprised if they raise the rates. It is clear when the fed withdrew stopped its quantitative easing, that that at least hurt the stock market because it what was jacking the stock market up so much well see. The fed plays a big role here. Gerri guys, steve grover, fred great job. Interesting stuff. The beat goes on. I cant believe were not Getting Better economic numbers. Thank you so much. Take care. Gerri we want to know what you think. Here is our question tonight and question of the day, are president obamas economic policies helping or hurting americas middle class . Log on to gerriwillis. Com vote on the righthand side of the screen, i will show the results at the end of tonights show. Apple you heard of course releasing earnings a short time ago. A big big, big quarter. Apples profits hit a record high of the Holiday Shopping season certainly helped. It sold the most iphones ever. Jo ling kent with the details. Jo ling, they beat on almost every metric. How big was this quarter for apple . It was absolutely huge and a lot of American Consumers bought phones and helped apple along. They sold 74 1 2 million independednt phones. To give you a sense how big of a beat that was analysts were only expecting about 65 million iphones to be sold. And Mac Computers were a record as well, coming in at 5. 52 Million Units sold. That was another alltime record for apple. And heres the thing, gerri apple made 18 billion in profits. And just to put that in perspective for you, that is reportedly the most any company has ever made globally in one quarter. It is massive. Gerri that is astonishing. That is just amazing, jo ling. We forget how big some of these companies are especially apple, a true Consumer Company that has everybodys attention. Did they have anything to say about products . All consumer eyes focused on it phones iwatches . Any element you can tease out of that Earnings Report . We actually got no real indication about the apple watch which clearly a lot of peoplerying this about reportedly coming out in march but we did see a disappointing number on ipad sales. Actually disappointed yet again. This is a trend weve been seeing. What is so interesting is, if you compare the iphone 6 plus and its huge popularity it seems potentially that the iphone 6 is cannibalizing some of that ipad sales that weve been thinking would eventually expand. So were seeing a drop there, gerri. Gerri jo ling kent, thanks for staying for us. Appreciate your time. Thanks. Gerri we have more more more to come this hour including advice for more than a thousand Older Americans on life and love in a groundbreaking new book. 2015 snowmageddon, more hype than snow. How did forecasters get it wrong . One forecaster comes on to tell us next. Tweet me gerriwillisfbn much send us an evident mail through our website, gerriwillis. Com. Well be right back. The lightest or nothing. The smartest or nothing. The quietest or nothing. The sleekest. Sexiest. Baddest. Safest,. Tightest,. Quickest. Harshest. Or nothing. At mercedesbenz, we do things one way or we dont do them at all. Introducing the allnew cclass. See your authorized mercedesbenz dealer for exceptional offers through mercedesbenz financial services. Gerri the big blizzard bust. Forecasters predict ad storm of the century shutting down road and bridges and flights in the city that never sleeps. Today new yorkers are scratching their heads why the snowstorm never came. Why were the forecasts so far off . Were bringing in fox news meteorologist janice dean. Welcome. I want to show you. Look at you. Dont shoot the messenger. Gerri oh, good. I know were friends. We like each other. Gerri i know you work hard. I see that every single day. I know. Listen, i want to ask you this question. You have people that forecasts stocks. Gerri no i want to know this. My husband brought this up to me. You have people that forecast stocks, are they ever wrong . Gerri so were not talking about stock forecasters tonight. Were talking about weather forecasters. What a dodge. Okay. What happened. Seriously, what happened . If the storm is epic in new england. We missed it by about 35, 50 miles. Okay. When you have a storm 500 miles wide and you miss it by 35 to 50 miles to the east, that is actually not a bad forecast but the fact that it missed the biggest city in the land thats why were focused on this listen, i will admit, 20 to 30inch snowfall in new york city, that is enough to get he had headlines. Thats what we were predicting two days ago. I feel like youre yelling at me. I apologize. Gerri i know you have taken a lot of heat today. You know what . Gerri i want real details here. Reality is you guys are a range of forecast, right . Right. Gerri there are range of models out there. You guys pick one. We have a few of them. Gerri how did you get to the one that wasnt right . So usually the european model, not the like, european model but the european model forecast that we looked at that predicted sandy Hurricane Sandy so well, that has been a really good forecasting. Gerri you guys rely on that. We rely on that. There is a new forecast model did, the gfs model they invest ad ton of money into this new american forecasting model. Gerri right. It actually turned out to be the most correct model but in the past it has been okay. It has been, doing fine, along with other forecasting models but the euro has been sort of the topnotch. Gerri standard. Gfs was right on the money. We were nervous to go with that. Gerri it was sort of a onetwo punch. Forecasters did their job saying it would be a massive blizzard, right . By the time it got to politicians, right, if we see you on the street well put you in jail for five years and sentence your children to hard labor. It got out of control the governor, the mayor, they were like fines for people who were driving that night. It justjust became, i think, out of control. I dont know who is advising them. They obviously took the forecast that 10 to 20, even 30 inches of snow in new york city and they wanted people to be safe. I get that. Thats my job, to make sure that people are safe. So we give you information that we have to provide you schools teachers mayors, to do what they think is right after the forecasts. Gerri but thats their responsibility, not yours, right. It is. Listen i will take i feel the worse for is local forecasters. They do hard work. Tomorrow if you see a forecaster, you hug them on the street. They dont want to get the forecast wrong. Gerri you dont have to hug them. You can hug me. Gerri which we do all the time janice. It is all love. I want to answer your questioning from the begin of the interview. Yes. Gerri stock forecasters are wrong all the time and never face the heat, ever. Thank you girlfriend. Oh, i want to show you something. My husband took this picture earlier in Grand Central. They closed everything. Have you ever seen Grand Central empty. That is amazing. You could roll a balling bowling ball through middle of Grand Central terminal. Do you imagine the dance party we could have in there you and me. Gerri with snow boots. You scared me to death. Later in the show why one Indiana Church is battling americas biggest bank jpmorgan. Joan rivers daughter suing a Medical Clinic for her mothers death. The suit claims incompetency to a coverup of the how is the clinic still open . Ma is my question much. After the break. Ive been called a control freak. I like to think of myself as more of a control. Enthusiast. Mmm, a perfect 177degrees. And thats why this road warrior rents from national. I can bypass the counter and go straight to my car. And i dont have to talk to any humans, unless i want to. And i dont. And national lets me choose any car in the aisle. Control. Its so, whats the word . Sexy. Go national. Go like a pro. When it comes to medicare, everyone talks about what happens when you turn sixtyfive. But, really, its what you do before that counts. See, medicare doesnt cover everything. Only about eighty percent of part b medical costs. The rest is on you. [ male announcer ] consider an aarp Medicare Supplement Insurance Plan insured by Unitedhealthcare Insurance Company. Like all standardized Medicare Supplement Insurance Plans it could really save you in outofpocket medical costs. So, call now and request this free decision guide. Discover how an aarp Medicare Supplement plan could go long™ for you. Do you want to choose your doctors . Avoid networks . What about referrals . [ male announcer ] all plans like these let you visit any doctor or hospital that accepts medicare patients, with no networks and virtually no referrals needed. So, call now request your free guide, and explore the range of aarp Medicare Supplement plans. Sixtyfive may get all the attention, but now is a good time to start thinking about how you want things to be. [ male announcer ] go long™. Gerri if light of new details surfacing in the death of comedienne joan rivers her daughter melissa filed a malpractice lawsuit against the doctors and clinic where her mother underwent a medical procedure that led to her death last september. With more on this new york city Plastic Surgeon who joins me and run as joint Commission Certified ambulatory Surgery Center here in new york. Thanks for being here. Thanks for coming to the show appreciate it. Sure gerri. Gerri what do you make of this . As i was telling you in the break the Washington Post reported theyre facing a loss of their accreditation for a number of reasons. Are you clinical for this clinic . They obviously violated some of the rules of a certified ambulatory Surgery Center. Gerri right. As we know what is being alleged in this particular lawsuit medicalries is a rivers says the level of mismanagement incompetency disrespect and outrageous behavior is shocking and frankly almost incomprehensible, not only did my mother deserves better, every patient deserves better. It is my goal to make sure this treatment never happens to anyone. The suit says that the doctor performed procedures without consent. One of the doctor works on her had no privileges to perform surge ral procedures. They failed to monitor vital signs. The doctor took a selfie with rivers while she was sedated. Youre in this business, is this sort of beyond the pale . The whole idea of having a Certified Facility so the patient can be sure they have an environment of safety. That is why all these rules are in place. For instance, doctor that will be operating on any of these facilities has to apply for privileges, they have to present their credentials. The facility is responsible to check those credentials so they know the doctor is who they say they are, they are welltrained, licensed, they have malpractice insurance. Gerri right. This particular doctor didnt have privileges at the facility and shouldnt have been there. Gerri shocking this type of thing goes on. There are clinics all over the country in every town, in every city. Makes me wonder if this is what happens to joan rivers how safe is the clinic my little town in westchester . If a patient goes to a certified ammaer to Surgery Center. They can be pretty sure they are following the rules. This is a breach in the rules that happened at this particular clinic. The whole reason to have a certified clinic so this doesnt happen. Gerri the family is asking for multimilliondollar settlement. Theyre not saying but do you believe she has a case here. Absolutely, because the rules were broken. The rules were broken and possibly multiple times . Yes. Gerri now tell me, obviously you want to have the safety of your patients and you want your patients to be loyal and want a Good Relationship with them but how strong how virulent are the regulators . Are they breathing down your neck all the time or hardly ever . When you initiate getting your facility accredited it is very strict rules, very strict paperwork. Everything has to be just done the same for every procedure. I think most people do follow those rules. Much i think in this case there were omissions. Relaxation of the rules which shouldnt have happened. I dont understand how the clinic is still operating. What do you say to that . They are checked frequently and they check the records. They check the charts. If they find breaches they will give the clinic a chance to correct it. If they review them again and if they didnt correct it or they have more violations they may take the accreditation away. Gerri that may happen here. Thank you for coming on. Very nice to meet. You anytime, gerri. Gerri next a reverendrend shares why his church is suing jpmorgan for mismanaging the churchs money. Did you watch fbns premier of strange inheritance . I did. I know youre hooked just like me. Jamie colby is here to tell us what to expect tonight. You want to see that. Many people clean their dentures with toothpaste or plain water. And even though their dentures look clean, in reality theyre not. If a denture were to be put under a microscope we can see all the bacteria that still exists on the denture and that bacteria multiplies very rapidly. Thats why dentists recommend cleaning with polident everyday. Polidents unique micro clean formula works in just 3 minutes, killing 99. 99 of odor causing bacteria. For a cleaner, fresher brighter denture everyday. Want to know how hard it can be. To breathe with copd . It can feel like this. Copd includes chronic bronchitis and emphysema. Spiriva is a oncedaily inhaled. Copd maintenance treatment. That helps open my airways for a full 24 hours. You know, spiriva helps me breathe easier. Spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. Tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. These may worsen with spiriva. Discuss all medicines you take, even eye drops. Stop taking spiriva and seek immediate medical help if your breathing suddenly worsens your throat or tongue swells,. You can get hives, vision changes or eye pain or problems passing urine. Other side effects include dry mouth and constipation. Nothing can reverse copd. Spiriva helps me breathe better. Sfx blowing sound. Does breathing with copd. Weigh you down . Dont wait ask your doctor about spiriva handihaler. Gerri welcome back to the willis report. In a moment, one reverend shares why his church is could you could you accusing jpmorgan of mismanage its money. The man who crashed his drone into the white house grounds works for government intelligence. Hes an employee of the National Geospatial Intelligence Agency which focuses on satellite imagery. The man was drinking before flying the drone. Clients about scammers posing as the irs soared. The irs says its agents will First Contact you by mail and will never call to demand immediate payment. We heard from apples ceo tim cook. The new apple watch will ship to stores in april. He will be announcing this is the First Official date weve heard from apple. Kfc offering a new item on its philippines menu. Theyre offering the double down dog sandwich where a hot dog is covered in cheese, fit into a bun sized piece of Fried Chicken. According to kfc, no plans to add it to the us menu. Those are some of the stories in the news tonight. A new original fox business show going across the country taking a look at how real families deal with some very unusual treasures they inherit. My grandfather left the largest privately owned collection of insects in the world. I inherited the small portion of the family ranch. It came with a few surprises. Its big. It is the worlds tallest thermometer. I was holding the books up and screaming like a giddy schoolgirl. Gerri joining me now, the host. Jamie colby who is glad to be home. Jamie one of the reason was the hot dog on the Fried Chicken sandwich on top of the bun. I mean, i didnt see that on the road. I thought i saw everything chicken fried. Great to see you gerri. You saw me at the beginning of this eightmonth adventure. Im back with incredible stories. Gerri ive seen a lot of this. The people you talked about theyre so articulate about their lives and what theyre doing. You were everywhere. I was in 25 states. Im anxious to see the rest. The center of all this is these families. They may not realize the legacy they were sitting on. Its not about the object they inherited about the story it represents. Gerri theres always a story with these. Right . I mean, its amazing. Its not just, heres what they inherited. Jamie there is if you ask the right questions. They discovered they wouldnt have delved into. They went back through their ancestry. We have this classic car episode. I never saw so many magnificent cars. This man was so fond of automobiles. This family kept finding warehouses of cars they may never have known they had. Gerri we have sound from that. Listen to this. Oh, come on. Get me a car that works. Hey. Hey grandpa never called himself a car collector. He was a car saver. He saved cars. He couldnt stand to see a car crushed. It broke his heart. You have to decide, with your life, what will you do with your stuff . Thats a very confrontatial thing. Gerri wow, telling the real stories of real people. How did these people not know the cars were part of the legacy. They were all over the place. They may have known some but not all 3,000. 300 different makes of models. This was in tacoma, washington. They built the lame museum. People should google it. Its spectacular. . the one facility i visited was a boys catholic school. It has the chapel and all these cars. Its rich in history beyond the cars. The family is amazing. Harolds wife not only oversees the family. But 100 volunteers show up from all over just to maintain and play with the condition of the cars. She makes them lunch gerri. I saw her in the kitchen. I was grinding up the model t which they let me drive. Not a good idea. The new york drivers were not so delicate. It was a priceless automobile. Here i am behind the wheel. Youll see a lot of crazy stuff on the show. I had a blast. Gerri it absolutely looks like it. I hope youll come about and talk to us again. Jamie i have a lot more. Great americans. Hardworking. And really interesting collections. Gerri thank you. Thank you. Well be back with more. Dont forget, watch strange inheritance tonight at 9 00 p. M. Great show, as we said. Watch it with the entire family. Heres a real david versus goliath story. A church in indiana suing the biggest bank in the company. Jpmorgan chase. The bank mismanaged millions of dollars of its money. Wants 13 million back. Plus all the legal fees back. With me now the reverend. Great to have you here. Tell me, help us understand, what kind of money where was it from that you had on hand to be managed . Oh, thank you gerri. I appreciate you having me on. The lily family, the pharmaceutical corporation were members of my church. They wanted his church to thrive long after he was no longer around. He left a significant bequest to us. Left it on a trust. As long as we stay in the center of indianapolis and continue to do good. Gerri and thats what youve been doing. Why are you now suing Jpmorgan Chase . Well, as a trustee they had full control of this portion of our endowment. We got several concerns when they started investing in their own funds. And the performance lagged significantly over other endowments of our size. Gerri jpmorgan says they did all the right thing. What kind of investments did they put the churchs money into . Its kind of funny. As an ordained minister ill be talking about hedge funds and private equity funds and structured notes. Were in a whole bunch of complicated and opaque investments. They were either jpmorgan products or placement agents for them. Its hard to understand and not appropriate for an endowment of our kind. Gerri this is who have a lot of money. But wouldnt it trouble some folks to put a church into some of these gogo investments that really benefit the bank. Wouldnt normally someone say maybe we should do this. Maybe take a more conservative bent. Being that youre using it for good works like feeding the hungry or programs for your parishioners. We were telling jpmorgan exactly that. Weve since discovered several other Community Foundations and other Church Organizations that have been in a very similar boat. That these investments are really complicated. And, you know, some of the contracts on those structured notes, you know, are a quarter inch thick just to understand what is going on. I dont know anyone who completely understands them. That doesnt seem right. Gerri did you think the banks did something legally wrong or ethically wrong . We believe something legally wrong or we wouldnt have taken legal action. You know doing the right thing doesnt always depend upon whether theres a regulator or a law. A higher sense of ethics especially when youre a trustee of a fund like this is very important. Gerri reverend steve carell son, thank you for coming on the show. Thank you for having me. Gerri one author asked over 1,000 Older Americans for their advice on life and love. He shares what they told him coming up. How your car may be helping the federal government spy on you. Yes, spy on you. Heres your consumer gauge with the numbers that mean the most to you. Check those out. Well be right back. Gerri well, it looks like big brother may be watching the government working on a secret intelligence Gathering Program tracking millions of cars across the u. S. But why, and is this legal . With more on this, fox business jeff flock. Jeff. Yeah. Its a good question gerri. They started this near the border. They put license plate readers and cameras near the border. Well it turns out. We knew about that. We didnt know apparently it stretched all around the country. Take a look at pictures taken out on the highways. Wall street journal not revealing where these photos are. Theyve collected hundreds of millions of pieces of data with these license plate readers. The question is, as you say, is this legal . We have already a National Database thats maintained by a Company Called vigilant solutions. And they track license plates as well. Its interesting to see how their system works. Take a look at how it does work. Decided to make a quick sweep through a parking lot here. As you can see, there is a number of different cars. Were watching car detector. As we can see car detector is popping up. Oscillating back and forth between the passenger and driver side cameras. As it picks each of the different cars. And well sweep every single car, well scan every car through this sweep. Amazing how quickly gerri, that that takes place. The Government Program doesnt do it in parking lots. Theyre fixed card or license plate readers. A lot of people upset about this. The upset is both on the left and the right. We talked to the aclu today. But what the aclu said it mirrors a lot of peoples feelings about this. They shouldnt be collecting this data and shouldnt be keeping this. The average american if they could put their license plate number with these databases, it would come up with a list of places where its seen. If they dont get a hit on your car no reason to retain this data. Thats the argument. It attracts people that have no suspicion of a crime whatever. And a lot of people are troubled by that. On the other hand other people say well, if im not committing a crime what does it matter. You can take down my license plate if you wanted. Take a picture of my license plate. Whats the difference . Two arguments. Gerri two arguments jeff. Tharngz for coming onthanks for coming tonight. I have news for you. Multiple congressional sources are saying tonight that the president is dropping plans to tax those 529 savings plans. Those are the College Savings plans weve been talking about so much in the last few days in the state of the union the president said he wants to tax those plans currently. Their proceeds are untaxed. And they are a popular break for middle class americans saving for college. Good news for people who have kids that may be approaching college or are in college right now. A selfhelp book 30 lessons for living. Those of 65 and up, their advice, to help us deal with big money issues. The book was an instant hit. The author is out with a sequel, 30 lessons for loving. Takes the same approach it folks, how focuses on how to keep our relationships together. Karl, thank you for coming on the show. Why did you decide to write this particular book . Well, you know, after maybe 25 years as a family sociologist there are two things i know about young people. From surveys and focus groups and all that kind of thing heres the first, getting married and staying married is confusing. Its difficult and complex in todays society. Gerri theres no reward for it. Nobody gives you a big prize if you make it to 50 or 30 years. Except for eternal ones. Younger people, also all want to get married. Hope to stay married for life. And hope to stay faithful to the same person. The question is, how to do it. I asked the oldest americans to find out. Gerri thats exactly what you did. What were the big life lessons you learned in talking to those folks . You know, if we want to start out how do you know the person that youre seeing is the one who is the right one for you . The first thing they say, oppose may attract in the movies, but in real life, not so much. [laughter] so you should marry someone a lot like you. They say before you get ready to commit, do something difficult challenging, strenuous like go on a camping trip or paint a room together. Gerri painting a room together let me tell you, that is plenty challenging. You even have a money lesson for us about money and marriage. You say avoid debt. Why . Your psychiatrist will ask you to figure things out for yourself. The Older Americans tell you what to do which is cool. Couples argue all about money. Theres a magic bullet not tolerance that. That is toto do that. Hate debt. Get out of debt and stay out of debt, you have an easier road in your marriage. Gerri from your book i want to read a piece. Be extremely careful about who you marry. Its important to pick someone who is a good candidate for marriage. You cant make something out of nothing. What do you mean by that . You know, the elders believe in love. Dont park your reason at the door. Is someone a good provider . Gerri thats old school, my friend. Am i to pick a wealthy guy . Absolute not. Someone who has a work ethic and knows how to manage money. Even if its about love, it binds you inextricably to someone elses situation. Make sure if you agree if you want to have kids or not. Gerri you say core values need to be similar. How far do you go . Young people usually dont ask one another until theyre pretty serious. Do we feel the same thing about how much time we put into our career . Do we feel the same about money, about sex, about how well raise our kids . A lot of fights are avoided if you share those same core values. Gerri it sounds like you say relationships are very much the same as they have been in the past. Yet we see this high incidents of divorce of people in the 60s and 50s. Whats going on . Folks at that age realize they have another 30, 40 years. How will they make it . Its women initiating it as much as men. You need to try try and try again. When youve made it for 60, 70 years its like no other experience on earth. Thats what they can help us do. Gerri ive clocked in at 20. Hoping to go for 30, 40 50. Thank you for coming. Thank you for having me. Gerri still to come my 2 cents more. Are you tired of the Winter Weather already . Are you dreaming about the ocean and the sand between your toes . We have the best beach houses. Youll love these pictures. Stay with us. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive but now is a good time to get the ball rolling. Keep in mind medicare only covers about eighty percent of part b medical costs. The rest is up to you. Thats where aarp Medicare Supplement Insurance Plans insured by Unitedhealthcare Insurance Company come in. Like all standardized Medicare Supplement Insurance Plans they could help pay some of what medicare doesnt, saving you in outofpocket medical costs. Youve learned that taking informed steps along the way really makes a difference later. Thats what it means to go long™. Call now and request this free [decision guide]. Its full of information on medicare and the range of aarp Medicare Supplement plans to choose from based on your needs and budget. All plans like these let you choose any doctor or hospital that accepts medicare patients and there are no network restrictions. Unitedhealthcare Insurance Company has over thirty Years Experience and the commitment to roll along with you, keeping you on course. So call now and discover how an aarp Medicare Supplement plan could go long™ for you. These are the only Medicare Supplement Insurance Plans endorsed by aarp an Organization Serving the needs of people 50 and over for generations. Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. The rest is up to you. Call now, request your free [decision guide] and start gathering the information you need to help you keep rolling with confidence. Go long™. Gerri if youre feeling the winter blues this week. Only 52 more days until spring. In the interim, why dont we talk about some beach homes. Beautiful beach homes where you can think about that summer warmth. Antonio, buying a beach house, its worth considering. Property is worth it. Well put it that way. It can be expensive, but you also need to think about, do you want to be right on the beach . Right on the sand or are you willing to back up a few blocks, in which it would be less expensive. Gerri get a block away. The average vacation home, 168,000. Something like that. It depends on where you are. Definitely depends on where you are. Gerri you can spend what you want to. You can. Theres some undiscovered communities as well. Gerri i want to hear that story. In malibu. I said not everyone has to live in malibu. Malibu has been discovered. Gerri that makes sense to me. Lets talk about what people need to know before we get to these pictures. About buying that home. I think it can be like falling in love. You want to make sure its not just infatuation. Sometimes people go on vacation and then they want to buy a house. Make sure this is a place you want to spend your time. Make sure you know the neighbors. Is it commutable . Will you be able to go to it frequently . Gerri thats my argument. I want to look at these beautiful houses. You have some folks we know and dont know. Allen has been on this show many, many times. You have pictures of her beach house. She has made dramatic and bold choices when it comes to color. This is a moment where people can express themselves. She did. With contrasting fabrics and lots of blues. She did a terrific job. It looks beautiful. Gerri i think of white, white white when i think of beach how this and subtle Pamela Anderson of course. Pamela anderson does like white. Its very girlie, white quiet and restful, her home. Whats nice about white its classic. Great choice for beach owners. It leaves the view as the star. Thats what you want. If theres beautiful blue water out there, let it shine. Gerri you want to see it through the window, absolutely. Theres also the beach house that makes you feel like youre outside outside. Jack jacksons house is perfect example of this. All about clean oceans. It makes perfect sense for a boy who grew up in hawaii. Now back home. His house is reflective of the environment around him. Lots of bamboo. Dark woods. Turquoise. Antique furniture. He loves driftwood. Collects found objects and puts it together. Gerri the other person you have is mitchell gold the Famous Furniture designer. Interesting story. He has a house in carolina that kind of uses the stuff he designed. Its a lake house. What we love about mitchells house is its collective you dont want it to be cookie cutter. He has a wall, for example, of curated art, about 20 years worth of paintings he collected. Many from artists he met and knows. When you bring people to your home, they learn about you and your personality through your house. Gerri i love that. Lets go through some of these trends. The first thing you say dont expand your Square Footage by being outside. Right . Its a way to expand your Square Footage without building. People are reaching to the outdoors with windows that expand. Doorways that disappear. Outdoor kitchens. Furniture now that looks exactly like indoor furniture. Its iits a wonderful way to use the outdoors in your living space. Gerri i love it. Well be right back. Gerri two stories in our show tonight make me wonder if anybody in government is doing their job. First, the Indiana Church that saw its endowment frittered away. And the clinic, why is it still in operation after federal regulators say its not up to snuff. The mayor warns about the blizzard. Nice photo ops. Not much substance. Thats my 2 cents more. Thats it for tonights willis report. Have a great night. Well see you right back here tomorrow. Charles im Charles Payne and youre watching making money. Stocks plunged today. At one point, the dow off 100 points. The damage reflecting all areas of the economy, from technology to global junction construction to consumer staples. Where do we go from here . The strong earnings after the bell and the carnage after the bell. Lets go to Nicole Petallides at the floor of the new york stock exchange. I know its tough down there. No doubt. Tough day on wall street. Selling acrosstheboard. We did come up off the lows. Down nearly 400 points. We saw some strength. Utilities tried to give it a go. Some of the drug stocks also. The pressure was certainly on. Tech stocks were under pressure. Many of the dow stocks, including