General motors vehicle. This badly designed combination of metal and plastic has ruined so many lives now. The process of putting a dollar value on a human life begins. Today is the first day victims of families can submit applications for payment. Joining me now kenneth feinberg, running the gm Victims Compensation fund. Today is your first day accepting claims. Plaintiffs attorneys expect several claims to be made today. How many claims will you get . You never know, sheer speculation as to how many lawyers and claimants have the time today, the first day that the claim forms are available to fill them out and send them into me. What we do know based on history, 9 11, bp, we get a spike of claims in the first month of the program, and then another spike probably in december. The last month of the program. So well have to wait and see what comes in the door. Gerri certainly, gm itself set aside 400 million for the purpose of compensating victims, thats what they said publicly. What do you make of that . Is that the right number . How do they come up with that number . Does it give us any clues about how many people might be compensated . No. Its speculation. I cant speak for gm as to how they came up with that number. They said publicly its their best estimate, based on actuarial data and prediction. I cant speak to that. The only thing that matters in this program is the number of claims for death and physical injury that actually is submitted, that are eligible and that get paid. And well be posting that information daily. So that people will get a chance to see for themselves and you guys as well, as to whats come in the door, whats been declared eligible and how much money is paid. Gerri excellent, well be watch are that for sure and on our website well putul the url for the forms. We had a chance to get a brief look at them today. There are a lot of forms. What proof is acceptable to have people to file . Do they need police forms . What do they need to show you . We offer a menu of options. The car itself, is around . The black box data from the computer in the automobile. Beyond that, circumstantial evidence, what does the Police Report say . What do the photographs show of the accident . Because if the air bag did not deploy, despite the fact that the photos show a frontend collision of some force, very, very useful. Warranty and maintenance records, insurance records. Medical records. All will be very, very helpful in evaluating the claim and reaching a decision on eligibility, and on value. Gerri so were per using the claim forms, pardon me, were getting our arms around it, some 12 forms, highly detailed, lots of information requested. Seems to me its a high hurtle for people to fill out. Is there any assistance for folks out there . Is gm offer anything assistance . First of all when you say 12 pages. When you look at claim form, encapsuled in one claim form. You dont have to fill it all out . Is it a death claim . A serious physical injury claim . Is it a less serious physical injury claim. Right away, you eliminate from consideration when you are filling out the form twothirds of the form pertaining to eligibility. Much of that form as youve noted when you review it, has to do with who gets the money in the family . What if its a spouse and where the money should be sent, by Electronic Transfer . By mail . A lot of that form pertains not to eligibility or injury, but who gets the money . Who can file the claim in a divided family, and where the money should be sent safely to make sure that the claimant gets it all. Gerri so much information, the black box, circumstantial evidence, seems its not the easiest forms to fill out. Is there any assistance for people who are filing claims on accidents that might have happened ten years ago . Absolutely. Youre asking a very good question. As the compensation protocol points out, we will assist any family member, anybody filing a claim. If youre having trouble getting through the documentation, if youre having trouble locating documentation, we will work with you. We are not adversarial, were trying to get money out the door to eligible claimants. And if somebody needs help, theres that 1800 number, the email number, get in touch with us, we will work on your behalf. Gerri and ken, pardon me, but i look at all this data, all this information you have. It seems to me it would almost dissuade some people from filing a claim. Its so elaborate and requires so much information. Is that the intention . Not at all and again, i say, its not that complicated. Youre talking here about the potential of distributing for each claimant whos eligible millions of dollars. Excuse me, if there are some questions that need to be answered and some documentation that has to be completed. But i assure the public and the claimant, well work with you, it is not that complicated, and when youre talking about transferring millions of dollars to somebody, we want to make sure that that individual receives the money, theres no fraud, that weve worked with the claimant and helped them get this money if theyre eligible. Gerri you bring up a good point that this is a situation ripe for fraud. How are you going to make sure, and i would think that your resources are limited at some level. How are you going to make sure that youre not processing claims where people are asking for money theyre not new and. The same way we did it in 9 11 with the Victim Compensation fund and the same way we did it with the bp oil spill. We have an antifraud unit in place. We will review suspicious claims that dont make a lot of sense. Wohl work with the claimant to try and verify certain information, and we will do our best within a very short time frame of 90 to 180 days, not months, to get that money out door. Gerri and reporting it all the way along. Ken feinberg thank you for coming on. We look forward to talking to you again about this. Thanks for your time. Thank you. Gerri and these are the very forms that mr. Feinberg was talking about, what victims families need to fill out. Youre going to find them on our website, gerriwillis. Com. How to fill them out, what you need to know, go to gerriwillis. Com. A deadly ignition switch playing problems in General Motors and turning up in guess what, motorcycles. Harleydavidson recalling 3300 dinalow rider bikes. The engine vibration with switches shutting the engine down, dealers are replacing the parts for free. The recall covers bikes from the 2014 model year. And still to come, a lot more this hour including your voice, thats why during the show we want you to facebook or tweet me or send us an email at gerriwillis. Com. At the bottom of the hour ill read your tweets and emails. How he went from being a rock n roll drummer to modeling mogul . His fascinating story after the break. To buy a car. What would help is simply being able to recognize a fair price. Thats never really been possible. But along comes a radically new way to buy a car called truecar. Now it is. Truecar has pricing data on every make and model, so all you have to do is search for the car you want. There it is. Now youre an expert in less than a minute. This is how car buying was always meant to be. This is truecar. Let that phrase sit with you for a second. Unlimited. As in, no limits on your hardearned cash back. As in no more dealing with those rotating categories. The quicksilver card from capital one. Unlimited 1. 5 cash back on everything you purchase, every day. 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Com today and make your business dream a reality. At legalzoom. Com we put the law on your side. Gerri in tonights meet the boss segment, how did a kid from long island become a rock star turned modeling mogul . We introduce to you scott, the owner of one management. You have one of the most interesting Career Trajectories i think ive ever seen. And strange. Gerri and strange. How do you go from being a drummer to running a modeling business . When i was a kid i was always playing on pots and pans and 17 graduated High School Early to go to p. I. T. , my dad said you are going to the Pittsburgh Institute of technology, amazing. Im going to the Percussion Institute of technology. I want to be a drummer. I had an injury and couldnt play and eventually started driving models around never thinking it could be a fulltime career like this. And represent claudia schiffer, ayman, claudia christenson, corolla, bridget hall, courtney love, a bunch of people. Gerri now you mentioned social media, new social media division, tell me about that . Such an interesting business, you see the entire business changing. Were starting a home division, secret, basically based on beautiful girls because there is a lot of new brand girls that are happening thats based on followings and people getting impressions. If you have a daughter, would you put her in the modeling business . Its not an easy business unless you have an incredible passion for wanting to do it. My parents never restricted me from being a drummer and said dont move to l. A. When you are 17. My band was the whole guns and roses history. And so that wasnt probably the ideal situation for my parents to see me move out to l. A. When i was 17 without guidance. We deal with a lot of parents and everyone is always supervised, if you have an agency on the up and up and they take care of you and look after you, sure, this is going to be a great experience, but you have to want it, there is 2,000, 3,000 models in new york now. The misconception is it is incredibly glamorous, it is if you get on met ball, but girls are late, you have to make sure girls are chaperoned. You represent hundreds of people but you have to be the rabbi, the priest, the psychologist, the trainer, everything. I dont think people realize the process, the girl who walks off the plane from czechoslovakia and next day on the cover of vogue. Theres a lot that develops her. The hardest part is honestly, you want to have integrity, you want to make sure the girls are doing the right kind of job. Being a great manager is knowing when to say yes and no. You dont want to accept every job. I had incredibly strong work ethic. My dad used to own an auto shop, and he used to get up at 5 00 and drive to the bronx. I used to work with him in the summers as a kid and instilled hard work ethic in me. My parents are great. I could never have gerri youre supposed to be disassociated from your parents. I didnt have a weird childhood. There was no strains. I had loving parents, they were incredible. Im not going to lie, its a fairly caddy business, you hear japanese girls have rejection all the time. And you have to believe in them for them to succeed. We dont do well unless they do well. The only thing in your best interest is to do incredibly well. As an agency, you have to fight for them a lot of times. Girls are reliant on you unless you push them believe and they can make it. Theyre not talking to the clients either. It is a lot about seeing something, having a vision. Its a lot of models that came through earlier and people didnt get and theyve gone to do incredibly well. Gerri when you started out, would you have thought you end up in a place like this . If you told me when i was 15 i would have my own agency. I really only knew cindy crawford, and now to represent the Iconic Models has been incredible, and i would never imagine it, no. Especially from coming from being a musician, that career trajectory is a unique and odd thing, it happened organically, and things happen for a reason. If i never hurt my arm, i would never be doing this. So my mother always said i always believed in myself, if you dont believe in yourself, whos going to believe in you . Gerri thats the ultimate career transition, right . Scott says he currently has 30 employees and represents 150 models. Interesting business. Time now for the stories on foxbusiness. Com. Stocks closing out the worst week in two years, investors moved into gold, bonds and utilities. The dow lost over 380 points in the past two days. Interrupting five months of steady gains. Consumers have less confidence, the university of michigan measuring Consumer Sentiment edging down in july. That trend continued with employers adding 209,000 jobs in july. Sixth straight month of job growth above 200,000. The Unemployment Rate picked up to 6. 2 from 6. 1. Hewlettpackard agreed to settlement with the u. S. Post office. Hp accused of overcharging the Postal Service for products between 2001 and 2010 failing to comply with terms of contract. The tech giant is not admitting any liability in settlement. Those are some of the hot stories on foxbusiness. Com. Later in the show, cooking up delicious pizza. And next truth in advertising . Should airlines be forced to advertise the full force of their tickets or the price before uncle sam adds on . A debate coming up after the break. Gerri a bill just passed in the house wants to make air fares more confusion. The ironically dubbed legislation wants to allow airlines to advertise the base prices only, not calculating in extra taxes, extra fees. But is this fair to consumers . Here to debate maddie duffler for americans for tax reform, and charlie leoaka of travelers united. Maddie, start with you. You think the legislation is a good idea, why . I do. Because for several reasons, one is for consumers to know exactly what theyre purchasing. If you think about it, this practice of having to hide taxes and fees in the base price of a product doesnt exist anywhere else. If you walk into a mall and going to go buy a sweater and advertised as 19. 99, you know you are paying sales tax on top of that. Airline consumers should have the same Shopping Experience when they go online, they shouldnt have to understand different prices for different airlines. They should be able to see the price competitiveness and make this choice based on that not how much the cost of government is adding to the price of a flight. Gerri charlie, what do you say to that, you dont agree. Shes mixingul federal taxes and state and local airlines. The airlines are exempt from state and local taxes, id be happy to add them onto the end. Were talking federal tax, and every other federal tax in the country is included in the price. If you buy gasoline, you dont say 1. 99, when you go to the pump, theyre charging you 3. 99. So shes talking apples and oranges here. Gerri i want to break it down so people can see what this looks like and what this legislation would do. So imagine airfare d. C. To boston, a breakdown of the cost. Base cost is 353, excise tax, a segment fee, a passenger facility charge, security fee. The total 425. Currently, thats the advertised price. 425. The new legislation would advertise 353. And can you see the tax is a total of 20 . Maddie, heres my problem with the legislation. I dont really care, i want to know what i have to pay, im trying to make comparisons, i want to know what allin cost is, im taking me and the husband and kids on a trip. I need a simple answer, why do i need to see the taxes . That question is going to be more and more difficult to answer if the current policy of requiring airlines to absorb the cost of government stays in place. Because you cant see the price, because you cant see how many taxes and fees are going towards driving up why you are paying for ticket. That makes it a prime choice for revenues for lawmakers who want to continue to increase the cost of airfare to continue to pay for other programs. Gerri is it your view that the Airline Industry is unfairly targeted with taxes . Consumers are unfairly targeted with taxes. They have no way of knowing how much the cost ticket is due to government, and lawmakers continue to take advantage of it. Gerri charlie, do you agree . First of all, i agree were being overtaxed. However we all do. We all agree with tax. The question were looking at is whether or not the airlines can tell us how much the taxes are, and under the current d. O. T. Regulations it says airlines are allowed to break out taxes and fees, they cant do it as predominantly as the full allin price, the airlines can put taxes and fees on ticket itineraries. Gerri there are other ways. To boarding passes, all sorts of ways they can sell us taxes and fees, instead even making the buying process more complicated and making the cost of travel more difficult to figure out. Gerri maddie, if you get a train or bus ticket, you get the allin charge, they dont break out taxes and fees, they let you see what youre going pay. Thats not you going to go after those Industries Next . Well, the problem right now is this is a rule thats two years old and doesnt make sense for consumers. If youre trying to allow consumer to make a knowledgeable choice, this obscures the price rather than increases transparency. This is a bill that passed on the house floor over twothirds of the house voting for, it both democrats and republicans, and on the floor, you had congressman coming to the floor saying this this is the most noncontroversial thing theyve done all week, as weve seen whats happening on the floor this week, that is probably not true. Gerri i think this is highly controversial, and charlie, to you, is this a consumer favor to advertise airfares this way . Is this not isnt the Airline Industry somewhere backing this bill . Well, the Airline Industry is totally behind the bill. So are the unionized workers working for the airlines. Gerri let charlie answer. Give charlie a chance. And so anyway, every single major Consumer Organization in the country has come out against the bill. Every single major newspaper in the country, almost every single major newspaper came out in editorials against the bill. This is incredibly complex. Congress did not allow us