Gerri third people are still missing. Nine are now confirmed dead after record rain and severe flooding across oklahoma and texas. Hundreds of homes were swept away in central texas. Another foot of rain fell on houston today which already has seen some of the worst flooding in years. In hayes county, south of austin, raging floodwaters tore through communities like wimberly. Wimberly resident keith mcnab is joining us. Great to have you on the show. I know it has been a very difficult time for you. At least for your family, at least good news your house was spared tragedy. Tell us what happened in your neighborhood. It was of course memorial weekend. We have lots of folks in town being holiday weekend. Most of wimberly Vacation Property is centered on blanco river as much as any. It was kind of a perfect storm of conditions of already wet ground. Weve had unusually wet spring out here in the austin hill country southwest of austin area. With the ground already being as wet as it was, when the storms came through, that evening you know, and dropped as much rain as it did up river of everybody on the blanco river, we had reports of anything from neighbors saying they were receiving 14, 12 to 14 some odd inches of rain in period of three days. Gerri wow. When that much water comes down and ground already wet as it is, all of that water poured into the blanco river. It came down in a wall of water. And you know, being nighttime you know, you dont see it coming. You can hear it coming but, you know, we get some floods out here in the texas hill country area. People get a little bit, kind of used to hearing flood alerts come out. And, didnt think too much of it until you know, the sheriff and other people started coming by the doors and telling folks they needed to get out. Luckily we happened to be in an area that is on a hill. So our house was spared but, my wife and i wound up staying home that evening but a lot of our friends were immediately to the right side of the fisher store bridge in wimberly, when that wall of water came down. And, you know, they got all the kids out of the house and managed to get gerri evacuated. A few belongings. That was about it. Within a matter of 30 minutes that wall of water came down. So every house on his street and sent it down river. Gerri keith, let me ask you a question here. Im familiar with the hill country there. It is beautiful. Beautiful rolling lovely area. And you say, that you could hear the water. What do you mean . Yeah. You know, when water starts to get high, you can kind of hear the rapids and hear the roaring of the water. You know, you kind of, most of the homes are fairly, you know probably 50 60 yards off of the rivers edge. Just because the floodplain will only let you build so close to the water. And any im a builder out here in the area. I know dealing with the county and other folks that we have to kind of stay outside of what is considered the 500 year flood pain. And floodplain. You watch the water creeping up into the yard and it gets higher and higher. When it starts to rise that fast, you know, you just have enough time to get out. But, it was luckily all of our really Close Friends managed to get out. Of course all the children got out. Gerri thank goodness thank goodness for that. Keith mcnab your story, amazing. Were very pleased to hear from you. Glad you and your family are safe and were prey praying for 30 people that havent been found, keith, thank you so much. With us now, another guest on the same topic, mark fox from the National Oceanic and atmospheric administration. He is coordination meteorologist for the National Weather service in the dallasft. Worth region. First of all to you, mark are there issues in the area that you are studying and taking a very close look at . Are there Flooding Issues there. Absolutely. The Trinity River down near down dallas, 40 feet. Flood stage is 30 feet. Most of that is contained in the levees. We have definitely had our share of water deal with the last couple of weeks. We have had a couple of people unfortunately pass away because of flash flooding in the last two to three weeks. And were definitely water logged just like the rest of the state. Gerri you know mark, flooding is no joke. You understand that flooding kills more people than tornados. Why is it more dangerous . I think keith had a pretty good story right there. Number one these things happen semifrequently, maybe not as bad or big as what were seeing at this time around. But flooding alerts are relatively common. You tend to kind of not really think too much about them. So, what we say at the Weather Service, every warning is what we want is, well every warning is a call for us to hopefully have people do Something Different with their lives for the next 20 or 30 minutes or so to help save their lives because those warnings are issued for a reason. We want people to do something just a little bit different. The other reason i think is a lot of stuff has been happening at night. In the day time especially with severe storms and weather like that you can see it coming. At night, you cant really see it coming. Almost, you can get your clues from the sounds or anything. Gerri thats what keith said. He said he could hear it coming. You can hear it coming. Could hear the water coming. He has lived there a long time obviously. He knew the signs and signals. To your point at night you cant see anything really. Apparently keith told us that he could hear people yelling are in in the middle of the night calling for help which is tragic. You say once those alarms are sounded, once the authorities start saying you know you have to get out of there, it is too late to plan ahead. Is there anything these people could have done ahead of time to save their families, to save their homes . That ace really tough question because everybody has a different viewpoint, different way they approach things likes that one thing we stress from the Weather Service make sure you have those plans in place. You cant wait until the sheriff or whoever comes knocks on your door. If the rain is heavy, and youre in that floodprone area you should have that plan in place and have the predesignated spot to go to before the water really starts to rise up. Once, you do get the warning, once you do get the signals something bad is happening then time to act on the plan and take cover, get to Higher Ground do whatever else you need. Gerri you say a place, the whole family knows where theyre supposed to meet if trouble does arise, correct . Absolutely. Everybody in the family, everybody in the household knows were meeting at this place if Something Big and bad happens. No questions asked. You essentially know what youre going to do long before anything bad happens. You can get out in front of it. Gerri wow. Tragic down there. Mark, thank you for coming on the show. Thanks for describing what is going on there. We appreciate your time. Anytime, thanks. Gerri turning the page now, moving on to breaking news as the irs says thieves have gotten access to Tax Information from 100,000 taxpayers. They used an Online System called get transcript to steal tax returns and other information. The thieves managed to clear a security screen requiring Social Security numbers, addresses dates of birth, and tax filing status. The system had been breached from february to midmay but has now been shut down. So mystery solved. That is how the bad guys got into the irs system. Meanwhile, General Motors as you may have heard under pressure as it possibly faces criminal charges from prosecutors over recall faulty ignition switches. They may have to pay a record fine to safety defect linked to more than 100 deaths. We have a managing partner and business law attorney. Seth, welcome back to the show. So glad to have you here. I look at this all this information has been out for sometime. Why criminal charges, why now . Well roughly a year ago the Criminal Division of the Justice Department launched an investigation into the behavior that was going on at General Motors behind the scenes. And what they determined alongwith reading the internal report, that gm also created with a lead by a former u. S. Attorney was an unfortunate pattern of concealment and deception, which tragically led to the deaths of whatever 100 individuals because of this ignition issue. So really this is really a very tragic situation. The Criminal Division of the u. S. Attorneys office at the Justice Department is involved in this. And it looks like theyre on the cusp of a historic settlement that could be reached as early as this summer. Gerri i understand could be as much as a billion dollars . A billion dollars . Right. Well thats true. There are two main components to these settlement discussions between gm and Justice Department. One, whether or not theyre going to plead guilty or potentially enter into what is known as deferred prosecution agreement or dpa. Naturally gm wants to push for the latter. That is more of a direct agreement as opposed to guilty plea. As you said it will be what is probably historic fine. Toyota recently entered into an agreement for 1. 2 billion. Look for a number that might go north of that in this case. Gerri were talking billions of dollars. Right. Gerri as we know the Company Already paid a 35 million fine to nshta. Where does this money go . If they pay a billion dollars or more fine, does it just go into the treasury . Yes, it goes into the main treasury account just like money going in through the huge multiple big Bank Settlements that were announced last week. If it is not agency specific and goes from the Justice Department, it goes into the United States treasury. Gerri now i understand that General Motors has Something Like 25 billion cash on the Balance Sheet to pay for any kind of liability, any criminal finding against them. One of the conversations going on today is that maybe there would be criminal charges against an individual at gm. Who would that likely be in your view . Well, i think that one of the lead targets would be some of the senior engineers who allegedly concealed this defect in the car approximately 11 years ago. There were a small handful of engineers. One in particular. His name was mentioninged over 200 times in the internal gm report. I think there is really going to be likelihood at the end of the year you will see someone indicted individually Corporate Responsibility at its hallmark requires individual accountability. These were deaths that were not only tragic but were avoidable. If this was handled in the appropriate way and wasnt actively concealed it would be far different story. Dont are surprised to see individual indictments in this case by december. Gerri the company itself didnt initiate recalls until early 2014. That was 10 years after the problems came to light. This went on and on and on. Seven years after the fixes to the switch were implemented. If youre going to blame engineers, boy you wonder about that chain of command. Surely other people in the company knew since this went on for so long. Do you think justice will really be served by this. I do. This is one of the biggest highprofile cases in the history of the automotive industry. Remember, there were about 15 terminations as a result of this report being issued by gm. Not only people within the Engineering Department but also people who were in the management chain. So i agree with you completely. There has to be accountability within the management chain. You really cant have another case of prosecution light where you just cut the check and you hit the road. I do think given the high visibility of this case and the tragic facts you will see heads roll in this case. Gerri 107 fatalities in this case this switch that did not work correctly. It is truly tragic. Seth, thanks for coming on the show tonight. Appreciate it. Always a pleasure. Gerri now we want to know what you think. Here is our question tonight should gm be held criminally responsible . Log on to gerriwillis. Com and vote. I will share results at the end of tonights show. Still a lot more to come this hour, including new warnings taxpayers may be on the hook, for get this, more than 25 trillion. And next, more than 1000 ps tsa badges disappeared. Airport officials are downplaying concerns. Could these i. D. S have fallen into the wrong hands . Tweet me what you think. Gerri willis fbn or send me an email through our website at gerriwillis. Com. Well be right back. If youre an adult with type 2 diabetes and your a1c is not at goal with certain diabetes pills or daily insulin your doctor may be talking about adding medication to help lower your a1c. Ask your doctor if adding onceaweek tanzeum is right for you. Onceaweek tanzeum is an injectable prescription medicine that may improve blood sugar in adults with type 2 diabetes along with diet and exercise. Onceaweek tanzeum works by helping your body release its own natural insulin when its needed. Tanzeum is not recommended as the first medicine to treat diabetes or in people with severe stomach or intestinal problems. Tanzeum is not insulin. It is not used to treat type 1 diabetes or diabetic ketoacidosis and has not been studied with mealtime insulin. Do not take tanzeum if you or your family have a history of medullary Thyroid Cancer or multiple endocrine neoplasia syndrome type 2, or if youre allergic to tanzeum or any of its ingredients. Stop using tanzeum and call your doctor right away if you experience symptoms of a serious allergic reaction which may include itching, rash, or difficulty breathing; if you have signs of pancreatitis, such as severe stomach pain that will not go away and may move to your back, with or without vomiting; or if you have symptoms of Thyroid Cancer which include a lump or swelling in your neck hoarseness, trouble swallowing or shortness of breath. Before using tanzeum talk to your doctor about your medical conditions, all medicines youre taking, if youre nursing, pregnant, or may become pregnant. And about low blood sugar and how to manage it. Taking tanzeum with a sulfonylurea or insulin increases your risk for low blood sugar. Common side effects with tanzeum include diarrhea nausea, injection site reactions cough, back pain and cold or flu symptoms. Some serious side effects can lead to dehydration which may cause kidney failure. Ask your doctor if adding onceaweek tanzeum is right for you. Go to tanzeum. Com to learn if you may be eligible to receive tanzeum free for 12 months. Make every week a tanzeum week. Jo the very people hired to protect flyers are creating new security concerns. Investigation by local nbc affiliate in dallas uncovered more than 1400 security clearance badges that were used by airline, by tsa agent and other employees of the airport have gone missing. Here to weigh in, former new york Homeland Security director, michael balboni. Michael, good to see you. What are the danger here . These are simply badges employees use to identify themselves, get inside entrances at these airports. What is the sphere . You have to appreciate is that the whole operating environment of an airport is one that is tightly tightly controlled. For some different reasons. Even before 9 11. These airplanes are millions and millions of dollars of pieces of equipment. Obviously passenger safety and concern is paramount concern. And, who gets on the air side in particular but throughout these terminals, is absolutely essential. So having these types of badges go missing without any type of inventory taken on them whether or not theyre turned off so you cant use them anymore cant get access this is a real concern. Gerri its a real concern, obviously and we were talking about Atlanta Hartsfield which is the Busiest Airport in the world, really. Some 90 million passengers pass through there each and every year. There are 60,000 employees at that airport. I mean it is a huge operation. And seems to me that it is essential that the folks who go in there to work every single day we know who they are when theyre coming when theyre going. Why isnt the tsa more locked down on employees themselves . Seems like that is a easy part to control . We spent so much money and resources and effort on trying to secure the way that people travel by air. And, this is one component now. Tsa can sit there not a major component there is a lot of others. It erodes the confidence of the flying public. To think gee, you set up all this security in the system and now these badges go missing and you dont know where they are . Gerri exactly right. Let me tell you the tsa itself is saying you have to have a pin for this. There is a picture on the i. D. Makes it much less useful to terrorists, to bad guys who might get into the airport to get into an area and hurt people. Are you buying that . Is that an adequate excuse . Well, again these types of things they with all of the money resources that weve spent, seems to be something that you could really lock down better to use your words. We have seen in new york state in particular the theft of uniforms. There has been threat information in the past about folks trying to impersonate a pilot trying to get on the planes. So is this a part of it . That is really the biggest concern. Is this part of a larger effort. Gerri for example, there was a horrible event where people were impersonating Airport Security personnel and using those very officer uniforms youre describing. The other thing that tsa says you know, look, you know these badges are turned off. Theyre basically made completely not useful after a couple of days. But michael, i read, sometimes they wait to demag advertise those i. D. S because people are hoping that maybe they will turn up somewhere. You know, it is not something that is handled, well, what i would call in professional way. Any type of permanent security is always a difficult thing to assure 100 security, no matter what you do or what you protect. It is one of those elements here, that you really sit there to wonder, why cant we have better system to make sure we know where these badges are and what happens to them. Gerri what were hearing from the federal government tonight, they wish thateld in atlanta had not spoken to the media. Theyre telling everybody else not to speak and not share information which is too darn bad because the public deserves to know what the real situation is. Michael, thank you for coming on the show tonight. Very good to see you. Thanks. Gerri coming up later in the show, taco bell says no mas to artificial ingredients and colorings. Is this good pr or good for health . Coming up next the white house vowed no more taxpayerfunded bailouts. That could be another broken promise. Well explain after the break. Can a business have a mind . A subconscious. 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What i was thinking, wait a minute, this is deja vu all over again. 10 years ago we were insuring all the mortgages and assets held by banks and Investment Companies. Guess what, were doing the very same thing. Turns out 80, 90 of the new mortgages, gerri carry with them virtual 100 taxpayer guarranty of repayment. Doesnt it sound like weve seen this movie before. Gerri oh, boy. People say these risks. These are small risks. Freddie mac and fannie mae taking out record amounts debt, dont worry about it. That is exactly what they said eight years ago on the eve of the financial crisis. It is very disturbing. I heard all that before too. Exactly. Gerri so were guaranteeing 60 of the financial industrys total liabilities. We stand behind it. We are the lender of last resort, taxpayers are. We are. Gerri that is up from 45 in 1999. Why cant we get out of this . I thought doddfrank was supposed to fix this. It hasnt done anything to reduce taxpayer risk. As an economist i find most frustrating, if you have 60 of these deposits, essentially guaranteed bit tax payers, you know what that incent vices banks and Investment Companies to take on riskier assets right . Because after all, there is a safety net there to catch them if they fall. This is the very kind of insurance premiums that created the financial crisis in the first place. I cant say this loud and clear enough. Ladies and gentlemen were doing all of the same things we did on the eve of the last financial crisis. Im not saying we will have another financial crisis. Im saying we do and same kind of catastrophic losses for taxpayers. Catastrophic losses for taxpayers. The feds gun will be had the. Empty. I dont know what they will do. There is no last resort. Right. This does not include the National Debt gerri. This does not include, does not include unfunded liabilities of the Social Security and medicare systems. Youre talking about adding 25 trillion on top of that. Were talking about truly tens of trillions of dollars our federal government could be liable for in the future if we dont turn this around. Mentioned it before. You are an economist. I want to get your voice on some of the news out today. Let me go over it quickly. First of all the s p caseshiller numbers on housing. Housing prices rising 5 . Yep. Gerri their 20 city index, thats important. New home sales are jumping 6. 8 . New home sales only a part of the whole pie. New homes five times more than new homes. Yep. Gerri so you look at those numbers whats your takeaway . I look at those numbers, i say those rising prices in housing are still keeping those people who want to get into the Housing Market for the first time out. Well i guess im a glass halffull kind of guy here. As a homeowner i see rising prices of homes as good thing. That is one of the principle assets that i own. Gerri true. This is sign of recovery, in my opinion, gerri. That people are sticking their toe in the water. Theyre starting to buy homes again, taking on larger mortgages. But circles back to the first part of our conversation gerri. Yeah people are taking, on bigger mortgages but guess who is standing behind those mortgages . You and i. Why not cap this as say, 300,000 homes and above that, people on their own . One thing to encourage homeownership. Another to encourage people with taxpayer dollars to buy homes with swimming pools and luck sure russ homes that cost a poll dollars. Were insuring those today. Gerri exactly right, steve. Great to see you. Thanks, gerri. Gerri coming up next, pizza hut and taco bell the latest chains to nix artificial ingredients but will this fix their unhealthy image . Later the cable wars heat up. Charter inks a deal with Time Warner Cable. Will that cut your cable bill . I think not. vo rush hour around here starts at 6 30 a. M. On the nose. But for me, it starts with the opening bell. And the rush i get, lasts way more than an hour. announcer at scottrade, we share your passion for trading. Thats why weve built powerful technology to alert you to your next opportunity. Because at scottrade, our passion is to power yours. The real question that needs to be asked is what is it that we can do that is impactful . What the cloud enables is computing to empower cancer researchers. It used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. Whatever i can do to help compute a cure for cancer, thats what id like to do. Life begins with a howl, we scream shout, shriek with joy. Until, inhibition creeps in our world gets smaller quieter, but life should be loud. Sing loud, play loud, love loud. Dentures shouldnt keep you quiet, life should be ringing in your ears. Live loud, polident. Attention. Did you or anyone in your household work around asbestoscontaining gaskets and packing . 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In a moment a major announcement from fast food giant taco bell and pizza hut. Time now to look at other stories in the news. Those death tolls in texas from those storms now 11. After three more bodies were recovered in floodwaters. Parts of the city have seen nearly a foot of rain and theyre searching for 30 poom he. And the patriots act in the name of Public Safety within much of the law allowing the government to search americans phone records expires on sunday. And congress is out of town. And the pentagon says iraq forces to try to take the city of ramadi from isis. Isis captured the strategic so unearlier this month as iraqi forces ran. And amtrak says it will install video cameras inside trains at engineers. The engineer injured a head injure and says he cant remember what happened. It left about 8 people dead and 200 injured. And those are some of the stories in the news tonight. Well, as we promised, some big fast food restaurants taco bell and his ahurt with more on this marketing expert and host of the bean cast, bob. So tell me more about these changes. What are they doing. Well, this is just a classic pr move. I mean theyre trying to get some kind of response to the overall movement within the industry to to be a healthier. I mean, you know, all these decisions really come out to be economic decisions, though. I mean the reason that taco bell and pizza hut and mcdonalds and subway are all trying to get healthier is because the economy is Getting Better. And if the economy is Getting Better then people are starting to make decisions about where they want to buy their fast food. Gerri dont you think its a lot of pressure to get rid of the transfat and the gmo. Gerri you know all about the green movement. And its just, like, when people are asked whether or not they want to be healthier whether they to want be greener, they say, yes. Gerri they say yes, but they do Something Different in the real world. Exactly. It all comes down to economy. I am essentially if the economy is going well does ive got a lot of money im making better decisions. But when the economy is going bad, ive got to feed my family for under 30 then. Gerri so lets walk through some of these changes panera, mcdonalds using chicken which i chipotle, on so heres my prediction. Youre going to go to a fastfood restaurant in three months and severing going to look awful gray, terrible, not appetizing, and its going to taste like crap. No. Its not going to taste like crap because its essentially real food actually makes the products taste better. Gerri are you confident in that . Im absolutely confident. Gerri im not. Well, you taste the difference when you go and try a real. Gerri well, thats why they put all that you just cant put that extra salt and sugar to amp up. Yeah. They amp up the desire to eat mores, and those types of decisions are based on economics. But when you actually eat something, lets taking taste face it, when i eat from crept, i feel better, my body feels better, but that doesnt make it that im going to go for the decision to go healthy all the time. Gerri thats right. Im going to go to taco bell or pizza hut because its cheaper and failures. Gerri good to see you. And when we come back todays selloff on wall street the start of more bad days to come . And next another major media deal announced charter and time warner, will you be paying a lower bill . I seriously doubt that. Well it you will what it means to consumers when we come back. But first heres the consumer gauge with the fullbacks that mean the most to you do you 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. Spiriva helps me breathe easier. Spiriva respimat 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 Respimat. Discuss all medicines you take even eye drops. If your breathing suddenly worsens, your throat or tongue swells you get hives, vision changes or eye pain or problems passing urine stop taking Spiriva Respimat and call your doctor right away. Side effects include sore throat cough, dry mouth and sinus infection. Nothing can reverse copd. Spiriva helps me breathe better. To learn about Spiriva Respimat slowmoving mist ask your doctor or visit spirivarespimat. Com gerri the cable wars are eating up again. Charter communications is buying Time Warner Cable or at least wants to in a 55 billion deal. Now, the deal would put charter in direct competition with comcast, which is the nations largest cable provider. But what does this mean for customers inspect joining me now, pete the tech editor for mashable. Com. Good to have you here, pete. My pleasure. Gerri lets start with first things first, do you think regulators are going to go along with this because it had did put it on the last deal to buy time warner. Yeah. I think theyre going to prove this one, what this will do is create the entity that is about the same size as comcast. So theyre going to look at the overall market, theyre going to look at the other factors in this deal, the fact that charter doesnt own a Major Media Company like comcast did sure they have stars, but its not the same thing. So i think this will will work. Gerri but isnt it true that when you put comcast and Time Warner Cable, you have 50 of the households, with this deal you only have 24 those were the numbers the wall street journal were reporting tied. Even if you look at it in a apples to apples comparison, it wont be as big as a comcast deal for time warner. Yeah. Exactly. So you have, like, you know, you have something that an entity that can go tow to to toe with comcast now, i mean theyre stronger because theyre ruffle in the same size and, you know, can do similar things and you dont have one sort of monopoly sort of dominating the whole industry, and i think thats fair to look at. Gerri so as you were saying, 23 million customers that is with what theyre calling the new Charter Comcast was in 27 million, so you can see the difference there. You know, and look at this and i know that customers in particular, consumers really, are so frustrated with their cable operators. Right. Gerri they want what they want, they get 200 channels, 250 channels, they watch a small fraction of that. Do you think that consumers going to have the last revenge here . Yeah. I think part of this deal, and this is what happened regardless of whether this deal goes forward or not is that were moving to a a la carte world were moving closer to that model, you saw what verizon was doing a few weeks ago with offering these thinner slices of channels. Which is not quite all acart but its getting there. Gerri theyre inching their way there. Yeah. Theyre radiating to these over the top wases 60day hbo now and those are chipping away at the cable business models. Gerri absolutely. Well ill tell you what i want them to chip away at, is my cable bill. The industry has been raising prices by about two times inflation for the past 17 years. Take a look at these numbers. Basic Cable Service 2. 78 right now thats 26 hire year over rear. These numbers go higher and higher every year. It deifies logic that more combination in these fielding are going to lower prices. Yeah. I mean very skeptical as well whether this will lower your bill, but there is a sliver of hope. Gerri really . Because charter basic level broadband package is cheaper than time warner. Now, they offer broadband for about 5. Thats their cheapest dollar. Charter offers it for 40. So theres a slight chance that charter might bring those to biggest markets like new york and l. A. Where time warner am has a big presence. Will they . Well see. But if you want to a little bit of hope to cling to, there it is l, i guess the delve is in the details well have to wait and see it happen so great to see you. Thank you. Gerri and also this morning from Goldman Sachs chief strategist anticipating the s p 500 will zero out with zero gains, and the expectation not so great either. So rick, i know youre aint big mover in and out of stocks on forecast. What do you make of what Goldman Sachs is saying tonight . Well, on the one hand, gerri, didnt i its a lot of financial noise. You know, and ten analyst, you get 11 different answers. Im not sure any of us should make a decision based poth. But at the same time it does reinforce the diversification you shouldnt make your decision on what a single analyst says, but also stocks arent going to be in their view all that exciting, thats mange a long term focus not just the 12 months, but having a broad portfolio. That will defeat get it you through anything. Gerri answer me this because i think the experience of the last market selloff in 2008, a lot of people were out there were close to retirement, no, they didnt have their entire portfolio necessarily in stocks but they had a decent slug in it in stocks and they god harmed. So people close to retirement, should then doing Something Different than somebody who is 25 . No. Because if youre close to retirement, youre still very far away from dying. If youre in your 50s or even early 60s youve got a 30year life expectation. If youre married, one of the two of you can be expected to live to age 95 or 100. So the fact that youre in or near retirement, that doesnt really sway me very much. You still need to maintain a highly exercisified portfolio you need to make sure that youre not going to go broke before you die. So thats why a good Financial Plan is a vital importance for people who are in preretirement or early retirement wages. Gerri so im investing my life expectation or Retirement Plan . Im changing my Retirement Plan for my life expectation; right . You said it the opposite way. Some are going to live a lot longer than what you otherwise would have thought. Gerri im going to talk for a second about these roboadvisories out there theres a lot of Venture Capital going to companies that do this, and essentially were talking about computerized portfolios because the power of computers these days. You can come up with a diversified portfolio for folks, and that what these services do. Not a lot of hand holding but if you want to pay for a point, being you get it. What do you make of these . Well, i think that there are threat to transitional brokers and many investment flyers as well who see only Value Proposition is price and performance. Brokers who is ill get you stocks or cheaper or ill make you more money than the next guy, those guys are out of business because as the advisories are demonstrating theyre going to build a highly diversified portfolio as good as anyone else, and theyre going to do it really cheap. That means the Financial Advisory has to offer Something Else as a key Value Proposition. And our firm, for example our clients are getting a huge amount of personalized service, theyre getting a broader range of advice,an not just on their invert has, if youre going to call them, they dont have a phone number, they dont have somebody will to help you. So if you need a broader range of services, you need a Financial Planner. If all you need is a portfolio, then, yeah, go to a roboadvisor. Gerri this seems to make a lot of sense for people who are young and just beginning to put this portfolio together, and lets face it, when youre 25, 35, youre just stocking the money away and you dont have a lot of financial obligations out there. It might make sense for folks like that. Yeah. I wont disagree with that at all gerri. We have our Online Service on the same basis. We have edelman online, for consumers who want our management without having access to a human being. They can do it 24 7, its easy, and our firm which people really enjoy, but youre absolutely right. If your needs are simple, you just want an effective management, its available to you. And as your needs change and grow then thats when youre going to want to go to a full service Financial Planner. Gerri thanks for your time today. Thank you. Gerri and still to come, why arent people going to the movies . Hollywood coming up. The worst Memorial Day Box Office in nearly 15 years. Is this the new norm . Time upon a once people approached problems the way same. Always start at the starting. And questions the same asking. But that only resulted in improvements small. So weve got some ideas new. Garbage can create energy. Light can talk. Countries can run on jet engine technology. When you look at problems in ways different you new solutions find. When cigarette cravings hit, all i can think about is getting relief. Only nicorette mini has a patented fastdissolving formula. It starts to relieve sudden cravings fast. I never know when ill need relief. Thats why i only choose nicorette mini. You total your brand new car. Nobodys hurt,but there will still be pain. It comes when your Insurance Company says theyll only pay threequarters of what it takes to replace it. What are you supposed to do, drive threequarters of a car . Now if you had a Liberty Mutual new car replacement, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. New car replacement is just one of the features that come standard with a base Liberty Mutual policy. And for drivers with accident forgivness,rates wont go up due to your first accident. Learn more by calling switch to Liberty Mutual and you can save up to 423. For a free quote today,call Liberty Mutual insurance at see Car Insurance in a whole new light. Liberty mutual insurance. Gerri the memorial day weekend. Its the kickoff to the summer movie season; right . But guess what . It turned out to be a weak one. Bringing in 190 million in domestic ticket sales thats the lowest in 14 years. Joining me now the host of in the flocks light. Michael. Michael, welcome back to the show. So what happened . The lowest since 2001 and ticket prices are 44 lower. So its bad. I think part of it is tomorrow with the big temple for disney that opened up this weekend. You know, t kind of flopped. You know, people werent sure what it was. Gerri so it was a big flop. Big flop. Gerri from George Clooney who you expect big from things obviously. Yeah. Gerri but ive got to tell you one of the things i keep asking myself im looking at these pictures thinking what . Its based off of a Amusement Park attraction. Gerri what . Yeah. Its disneys new tragic strategery, they had pirates of caribbean, which was a huge success for them, and this isnt doing it for them. Gerri clooney has something to say about environmentism. That was the other big complaint. Gerri and people dont like that. Who wants a elect on memorial day weekend . Shut up fun not a lecture on global warming. Gerri i like that. The like the oceans 11. Yeah. You and i have talked about this a little bit. I think hes turned into part of a block for some audiences. Gerri how so . His ahead of him in terms of the movies, people see him and the politics as opposed to the movie and its a block for some people. Gerri yeah, they dont like it. Yeah. Gerri lets talk about other that things also opened this weekend. The only other new movie and this was my big fear well tomorrow land was the big movie, but the other movie was based off gerri poulter guys. Poulter guys. Gerri a new idea in 40 years. I mean thats part of the probable. Thats part of the problem. Gerri and tomorrow land doing so bad, you know, its going to stick to lets stick with tried and true brands, it was made for that 13 million, it made about 27 million it came in 5th, but it over performed. Gaits its money back. Gerri and thats the standard today. Another reality is some movies have so much competition of whats going on if on tv. Yes. Gerri theres so much great stuff to see whats going on in television. And thats the problem. Some of the best storytelling is happening on television. Look at the rest of the list in the top five. The avengers, comic book stuff. Gerri i like that stuff. [laughter] possibly a 200 million write down for this movie the avengers, new disney pixar movie inside out. Gerri i love that. They have star wars coming out in december, so disney is leading the pack. Jurassic world is opening up, the minions based on despicable me,. Gerri i like it. Well be back at the box office. We just want to be entertained when we go to the movies. Gerri i like it. Popcorn. There you go. It doesnt get better than that. Gerri thank you. And well be right back with our consistency answered to the question of the day. Well be right back if youre taking multiple medications does your mouth often feel dry . A dry mouth can be a side effect of many medications. But it can also lead to tooth decay and bad breath. Thats why theres biotene available as an oral rinse toothpaste, spray or gel. Biotene can provide soothing relief and it helps keep your mouth healthy too. Remember, while your medication is doing you good a dry mouth isnt biotene, for people who suffer from a dry mouth. Gerri class action lawsuits may be the least of General Motors worries as the company can Face Criminal Charges from federal prosecutors. Should they . We asked the question on gerri willis. Com and 80 of you said yes. Log onto gerri willis. Com for our question every weekday. And that is it for tonights willis report. Thank you for joining us. And making money with Charles Payne is coming up next. Have a great night and we will see you back here tomorrow. Im Charles Payne, and youre watching making money. Secret to Silicon Valley billion businesses also known as unicorn, how big of these companies go from 0 to millions in a flash . They fill them, the hottest ipo2015 later in the show. This matters to you about b over the next year individual investors are going to be is he accusing to buying these hot ipos, that have already gone through the roof. Now some of them are going to be worth chasing but a whole lot. But prap the biggest cautionary detail for investors, hot topic making 17. 50 for gig net up 122 , premium sounds great. Not necessarily