cnn in the money - best food dehydrator
Will global warming bring us the day after tomorrow?
Bad work slips through cracks;
Longke founder praised the invention and SellingAired May 29, 2004-
ETTHIS is a hurried transcript.
This copy may not be in final form and may be updated.
Catherine Callaway, cnn anchor: First of all, the headlines.
A group claiming to be a Jerusalem Squadron claimed responsibility for today's deadly attack in eastern Saudi Arabia.
This statement appears on a website that makes a statement for al-Qaida.
Gunmen killed at least 12 people, including an American, at an oil company in Hobart.
Sources say they have hijacked several Westerners there.
And in the holy city of Iraq, Najaf, United StatesS.
Although the radical clergy promised to withdraw their troops there, the troops and army militia are still fighting today.
The coalition stopped attacking Najaf and expressed cautious optimism about the peace deal there.
Former NFL players killed in Afghanistan last month may have been killed by friendly fire. The U. S.
The military says Pat Tillman may have been killed by artillery fire from his own forces during a war with the enemy.
The military said the discovery did not weaken Tillman's spirit of bravery and sacrifice.
One hour from the inauguration of the World War II Memorial in Washington.
The security of this historic event is very tight, including President Bush's speech.
The memorial commemorates 16 million Americans who served in the Army during World War II.
Their spirit of sacrifice is what President Bush says remains today. (
Start Video Editing)
Former President of the United States George Herbert Walker Bush: the men and women who make up our own volunteer forces are fighting today in Iraq and Afghanistan and serving in glory and integrity in countless other parts of the world, they are as great as any previous generation. (END VIDEO CLIP)
CALLOWAY: CNN's Paula Zahn will start at 2: 00 eastern time and bring you a live dedication ceremony.
There are more messages at the bottom of the hour.
I'm Catherine Callaway from Atlanta.
Now the money starts.
Susan lisovicz, cnn anchor: Welcome to the money.
This is Susan Lisovicz.
Jack Cafferty is on vacation this weekend.
On today's show, people at the Pentagon can't write a scene like this as another disaster movie.
If the worst global warming scenario comes true, find out what we plan.
You can't fly to Saudi Arabia to cheer them up faster.
So we offer the next best thing, some tips on how to stretch the tank before you go back this Memorial Day weekend.
For Americans who want to break even, the minimum wage is the biggest problem.
We will take a closer look at the poor people who work.
While Jack was away, with me today, he would say "usual suspects" by the editor of Fortune magazine"at-
Big Andy Deville and the money
Com Editor-in-Chief Allen wastler.
It's good to have you.
You know, Memorial Day weekend means barbecue, golf, beach, holiday sales for millions of Americans.
But this weekend, in Washington, something might have happened half a century ago, a memorial to the greatest generation of World War II veterans.
Editor Andy thervilleAT-
Fortune: Yes, I think it's very ironic because of the Vietnam Veterans Memorial, this wall has attracted so much attention.
Today, 60 years later, they say 1000 veterinarians die every day in the country.
The ceremony took so long.
I think it's been too long.
Money, Alan Westler.
COM: But the problem is that it's not to discredit the contributions they 've made, but the chwo Island memorial has been around for a while.
I think a lot of people just think that this represents the whole conflict there.
I mean, there's something they can go to a place to recall.
LISOVICZ: but it doesn't mention humility, what we 've talked about before, the humility of this generation, never really called for attention.
My dad actually got the outstanding Flying Cross, the navigator of the very famous Liberator in the South Pacific.
My uncle, Lenny ricovitch, is D-
On Omaha Beach, he was awarded the Silver Star Medal and the Purple Heart medal.
These people continue to raise their families and contribute to society and never really talk about these bravery and their sacrifices.
I think it's just part of being an American.
This is part of this generation.
Obviously, Susan, you have a lot to be proud.
I mean, millions of Americans, it's a national effort.
But I think, you know, what we think about it is changing now.
Every war is memorable.
LISOVICZ: This weekend will definitely be the focus of a lot of activities.
Of course, any Memorial Day weekend is a very popular movie. going.
A new weather disaster movie is making waves at the box office.
The "Day After Tomorrow", which depicts the new ice age brought about by global warming, opened this week and is expected to do big business.
But the prospect of this bad weather is more than just a movie script.
This is also a scene that the Pentagon is trying to prepare.
At the end of last year, the Defense Ministry commissioned research on various national security threats posed by global warming.
Joining us today is Paul Epstein, deputy director of the Center for Health and Global Environment at Harvard Medical School. Welcome.
Paul Epstein, Harvard Medical School: Hello, Susan, Alan and Andy.
LISOVICZ: it's good to have you.
You know, just a few days ago, I interviewed the producer of the day after tomorrow.
Relax, he says, it's just a movie, eat your popcorn, sit down and enjoy it.
In fact, the drama in the film is unlikely to bring this new ice age in a few days.
But it is not surprising that the global warming that caused this dramatic change.
This is true.
Obviously, no one planned for three days.
But the three years and thirty years behind the film are scientific.
On 2002 and January, the National Academy of Sciences released a report called "climate change and inevitable surprises.
"What they see is the ice core record, which shows this cold reversal when the climate is warming.
While there are other sudden situations that may happen, we may melt in the Alaska tundra and release methane, which may heat things up sharply.
We may slide some of the ice on the Antarctic Peninsula, which will raise the sea level.
But this particular event is very important to us because it is in the northeast and we have seen some changes in the North Atlantic circulation, which reminds us of the 13,000 incident we were warming up a few years ago, suddenly cool down.
So, Paul, I mean, how likely is this happening?
What happens here?
Epstein: The question is, how likely is it?
What I'm trying to say is that five years ago, we thought it was unlikely.
What we are seeing now is climate change.
The biological system is responding.
Costs and funding associated with these extreme weather events are increasing.
I want to talk about this, because what we have seen is dramatic, affecting the economy and security.
This also means that the chances of such events or surprises have increased, because we have seen an increase in the rate of change, and the rate of warming is getting faster and faster.
Fluctuations, changes in the average, from high temperatures to low temperatures to cold winters, to hot winters, to droughts like we do in the West, now that we have been in the fifth consecutive year, like the extreme heavy rain we have seen in Haiti today, there is 5 feet rain in 36 hours.
This was reported by The New York Times on Friday.
These are what we see, the extreme phenomena of drought, which occur from time to time in heavy rain, and it is instability that tells us that such events and surprises are more likely to occur than they were a few years ago.
Allen, please let me know more about the economic impact.
Can you put some dollar numbers in the old wallet exactly what hit and how much it might add?
Yes, very good.
Clearly, this is a factor that affects the industry, especially the financial and reinsurance sectors that must be ensured for insurance companies.
Extreme weather events and other disasters such as volcanoes and earthquakes cost $4 billion a year after the 80 s.
In its 90 s, it rose tenfold a year to $40 billion.
The United Nations Environment Programme expects that, if current trends continue, extreme weather events and the costs of these disasters could reach $150 billion per year over the course of the decade.
In fact, it was $60 billion last year and $55 billion the previous year.
So we're on a track.
Let me add quickly that $60 billion, of which $15 billion is insured.
So we see a rise in costs, as we see more events in the northern hemisphere, in the U. S.
There are drought, strong winds, etc;
In Europe, like the heat wave last summer, it was so devastating in terms of life;
In terms of crop failure, in terms of wildfire, it lost 10%--
In the Alps, the quality of the Alpine glacier is lost by 10%.
We see the gathering of such incidents, which is why it affects the insurance industry, property and accidental injuries, and the market and stable life and health sectors.
Epstein, frankly, what you're talking about is more terrible than the movie The Day After Tomorrow.
"But you know, the government seems to be completely focused on oil, getting enough oil and terrorism to prevent another attack.
These are obviously very serious problems.
Do you think the government has taken adequate precautions and taken any precautions?
What can we do to at least slow down the process?
And I clearly --
However, focusing on oil is the first step because we have other global problems.
But if we can't make the transition to clean energy right and make it a win-win process,
For the sake of the economy and the environment, we will not properly begin this process of sustainable development.
Oil, I am a doctor and we study the health and ecological effects we rely on for oil, such as from mining to coal mining, transportation and leakage to oil refining and benzene.
And then we come to burn, there's heavy rain, air pollution and climate change here, and that's freezing, or we should say, de-icing.
Icing on the cake.
There are so many security reasons, health and ecological reasons, and now there are more and more financial reasons for getting oil from oil.
The government is clearly affected by the oil industry.
I think other than many other departments.
We also see some industries working to improve efficiency.
We see many of them starting to look at each other and say, what kind of incentive mechanisms do we need to put in place in this system to drive these new trends ---
Are these new technologies in the market?
Dr. Epstein, you asked a lot of very important questions.
This year is the election year.
We hope a lot of people will hear what you say. Dr.
Paul Epstein, deputy director of the Center for Health and Global Environment at Harvard Medical School.
Thank you for joining us.
Epstein: Thank you very much.
LISOVICZ: we have to go out.
But where is the gas price when we come back, you may be tempted to ride on the road.
Don't worry, we will have some money.
Save travel tips.
Plus spending less and doing more.
In the United States, the number of working poor is growing.
Understand what it means for your future.
And the real king of the night.
For decades, Ron Popeil's advertising has dominated radio waves.
We will get his own secret of success. (
SERWER: Memorial Day marks the unofficial start of the summer driving season, but as gas prices continue to hover near record levels, some Americans are rethinking their holiday trips.
Share with us today some tips on how to further expand your driving income this summer, Justin mcnal from the American Automobile Association.
Welcome, Justin. How are you?
Auto assistant Justin mcnal
America: well done.
How are you?
Why don't you tell us how to save money?
You know, I like the tip you said, don't drive to Hawaii. Very funny. (LAUGHTER)
Well, this is the most expensive gas in the country.
So you 'd better go by plane instead of by car.
In fact, the most basic thing is to reduce the use.
If in your daysto-
Traveling during the day, you can avoid taking a car to do something that has to be done, and of course you can do it.
But when it comes to summer travel, we have to drive anyway, so it makes sense to use the most fuel-efficient car.
If you're not mopping, and if you're not pulling a few horses, you're not on the mud either, you may not need that full-size SUV.
Of course, if you have five kids, it's hard to fit them all into a little Honda Civic, but if only you and your dear spend the weekend in bed and breakfast somewhere, then a 30-mile sedan should be fine.
LISOVICZ: that's what it is for me.
This is for sure.
Justin, that sounds really good.
Let's talk about other quick tips and money saved each year.
Such as speeding.
I feel guilty about it.
How much do you spend a week? -
Would you say a year?
What restrictions should you put on your car from the following aspects-
What car should you drive on the highway?
MCNAULL: Well, the effect of speed will obviously change depending on the aerodynamics of the car.
But you're pushing a big SUV or something else that's not suitable for headwinds, you're faster than 55 or 65 miles per hour, you're greatly reducing fuel efficiency, we're talking about 10% and maybe more as you get faster and faster;
Over the course of the year, depending on the number of cars you drive, this could increase by $100 or $200 or $300.
There are also major safety risks in speeding.
So driving the speed limit is safer, it will save you money, it is better for the environment when you look at the emission side of things.
This is the right thing to do.
So there is a reason for the speed limit, obey them.
Hey, Justin, Alan.
I'm driving a big horn pickup truck.
I am proud of it.
But I think I did a good job in the environment and because of my driving manual it gave me more opportunities ---
You know, go down the hill and punch in the clutch, hey, I didn't burn anything.
Am I right, yes or no, is the manual more efficient than automation?
MCNAULL: being able to slide to neutral as you like is really a little bit of a help to you.
But the automatic transmission we have now has become smart.
So there is no big difference in fuel economy.
Some of the EPS ratings may be one mile per gallon.
This is not a real deal. changer.
You know, Justin, what's really interesting to me is the hybrid car, which has received a lot of attention these days.
I want you to talk about this.
One thing I noticed is that your fuel mileage in the city is better than the fuel mileage on the highway because you use an electric motor in town, right?
Now we are looking at two major hybrid versions.
This is the Toyota version, the Honda version.
Toyota has a better mileage in the city, while Honda has a slightly better mileage on the highway.
It is related to how the engine works and the energy distribution of the battery system.
But you are right, in fact, with the help of Toyota Prius, Toyota Prius has achieved better mileage in the city --and-
To transport or at a lower level
Most of our cars see a drop in fuel economy while driving.
Toyota Prius is actually the fastest-driving car, maybe not at the traffic lights, but according to J. D. Power.
Hey Justin, overpaid for octaane.
No one is willing to pay more than they do.
Is this something that most Americans or all American drivers don't need?
MCNAULL: the vast majority of our cars, more than 90%, only need No. 87 gasoline, ordinary unleaded gasoline, cheap gasoline-
So, if you pay a high test fee and your car doesn't say it, give me the high test fee, you may spend some money that you don't need or at least don't.
WASTLER: Hey Justin, many traders say gasoline prices usually peak around Memorial Day and then gradually drop in the summer.
Is this true? Did you see what happened this year?
MCNAULL: traditionally, that's what we 've seen, in part because of the need to try to build some reserves.
But on the other hand, we also cross through the refinery in the spring, from producing the winter mixture to the summer mixture.
We passed the cross without any major faults, which is fine.
If we now add some glitches based on global supply and demand, it can be very confusing.
So we're optimistic.
I mean, in the last few days we 've actually seen prices stay around $2 across the country. 05.
It is not yet certain that this is the highest peak, and if this is a countertop, we will fall back from there, or this is the plateau leading to a higher level.
We're not sure.
Justin, last question, tire pressure is important, right?
About three of our cars are not inflated enough and at least one is not.
This can affect your fuel economy up to 10%.
So there are small things that let them inflate, change the oil, adjust the ups, and when your father takes you away with your first car, he reminds you of everything you do.
They are important.
Ricovitch: Clean up your suitcase.
This is another suggestion you suggested.
National spokesman for the American Automobile Association Justin mcnal, I am a member and thank you for joining us.
Thanks for being a member.
LISOVICZ: after the break, going home is where the heart is.
But if this is also where your investment funds should be, find out.
And the workload.
Americans work harder than ever.
But more and more people fall into poverty.
Let's check it out.
In addition, there are more, we will even advertise through TV information.
Let's take a look at how Ron Poppe got rich by selling things outside the kitchen sink. (
LISOVICZ: Now let's take a look at this week's headlines in "one minute of money.
Frank Quattrone, a former investment banker, asked for a new attempt.
Of course, when federal investigators investigated how his company CSFB released shares in its initial public offering, Quatrrone was convicted of obstructing justice.
Quattrone's lawyer said he should be re-examined due to the "confusing instructions" given by the judge to the jury.
From Tuesday, seniors can start using the new medical insurance discount drug card.
But they may not have time to beat some of the price increases at the pharmacy.
A new study shows that the price of the top 30 old-age brand drugs has increased more than four times that of last year.
It is wise for Treasury Secretary John Snow to accept some of his own proposals.
Snow has been touring the country, urging Americans to improve their financial knowledge and give more attention to their investments.
But it turned out that the secretary himself missed the mistake of nearly $11 million made by his investment advisor because he had not bothered to read the financial statements for more than a year. That's a no-no.
SERWER: Sales of new homes fell by about 12% in April.
When the government announced the numbers on Wednesday, it sent home-building companies' shares down sharply.
One of the companies is the brother of charge.
Shares in Pennsylvania
US-based companies have grown steadily over the past year.
But is the good time for this company over?
This makes the charging brothers our "inventory" this week ".
"I want to tell you something about this company.
People have been waiting for the industry to explode for a long time.
These stocks have been cheap for a long, long time.
In the past year, the charging brothers have doubled.
Interest rates will rise at some point.
These companies may be able to handle it.
LISOVICZ: But the price will still be cheap.
I think that's one of the reasons why the money is still there.
Similarly, Americans are cramming for refinancing, just when the money is so cheap.
What do you think, Alan?
WASTLER: I'm a little worried.
I was a little worried.
That's what he is.
WASTLER: sales are going down, but they are still going up if you look at building permits.
At the last minute, the crazy purchase you're talking about keeps the price up.
But this can only last until now.
This is the material for classic bubbles.
I think we will see it explode.
It may not be a loud noise, but there may be a lot of small pop and pop in some areas.
I think, you know, you have to understand the risks inherent in this stock if you're going to look at it.
I think it's an adventure.
LISOVICZ: So you think the whole industry is going to be affected, not just the luxury industry like Toll Brothers?
WASTLER: I think the luxury industry may feel a little bit more than other industries.
Of course, there is an argument that because they are big and bad, they can take it away from the little guy.
But I just think that this is an inherent adventure game at this point, and maybe it should be for professionals, not for ordinary investors.
However, these guys, Robert and Bruce charged, started the company at the age of 60 and went public at the age of 80.
As you said, Susan, they have an average of $500,000 in their house.
They're smart people.
They started from Philadelphia.
They gradually move around the country.
They were not blown up the last time the property market fell.
So maybe these guys can ride out.
However, you may be better in this case, as another stock group will do better than this group.
Yes, but how did they survive the last crash?
Well, they were not extended too much.
They are not overused.
Again, they did not try to take too much from the table.
I mean, how often do you watch it?
We will have some more crumbs.
This is what you always get in the end.
So are you worried like Alan?
Do you stay at home or go out?
SERWER: I wouldn't step in at this point even if the p/e ratio was 11.
I mean, it's a cheap stock.
This is a cheap stock.
Let's talk again.
The money on the product, when there is J-O-B is not A-OK.
We will see a dead end for many Americans working at the minimum wage.
In addition, the insomniac market.
We will talk to the father of the advertising company about his success and what he is selling now.
SERWER: If you can't get to the real golf course on this Memorial Day weekend, we have an interesting website for you to practice on your own computer.
So don't walk away. (
LISOVICZ: America has always been called a place of opportunity where you can be born poor but can die rich.
However, some people say today that the American dream is dying because there are too many low
Income workers have no chance of success any more.
Their minimum wage work has become a dead end, not a stepping stone.
The plight of poor American workers is the cover story of this issue of Business Week magazine.
Michelle Conlin, a reporter for the magazine, joined our discussion. Welcome.
Michelle Conlin, Business Week: Thank you.
Good to be here.
Michelle, let's clarify--
Some of the criteria you use in this cover story.
You don't actually measure the minimum wage, which is $5. 15 an hour.
You actually accepted this for $9. 04 an hour.
What did you find?
Conlin: Well, you know, we found that 25% of the labor force, the workers of the main age, these are people between the ages of 18 and 64, because we want to cut off very young and very old people.
We found 25% of the population in the United States. S.
Labor income in this age group is $9.
An hour or less.
More importantly, they are overwhelmed not only by not making enough money to support themselves or their families, but they are the ones most likely to lack health benefits.
If their work brings health benefits, they tend to be too expensive to buy at all.
You know, once you start making $7, $8, $9, $10 an hour, they are the same people, and you start to lose what little safety net you have in the US.
So, you're really going to be crushed to some extent. man's-
Now stand up from there where it is harder than before.
Hi Michelle, Alan.
Immigration has always been a hot topic in this country.
I noticed that this is very important in your story.
If we do enforce immigration laws and stop illegal immigrants from coming in, how will this change what you see?
Conlin: That's a good question because I think what everyone thinks is, yes, we have a large group of people working in poverty in the United States, but most of them are immigrants. -
Part of the American dream is that you can come here, and if you have enough courage and effort, you can go all the way up.
But we found that, in fact, you know, immigration is only the fifth place in this group, which is a big group, but you know, nearly 60% of the poor workers are white.
Most people have high school degrees and even some universities.
These are all things that were assured to them 30 years ago, and if it weren't for a time slot, they would get a chance in the middle class.
Michelle, but what do you suggest we do with this situation?
Raise the minimum wage and provide more health care?
If so, who will pay for it?
It's one thing to see the problem, how do we fix it?
This is another good question of how we can solve this problem.
There have been so many deadlocks and so many paralysis on how to solve this problem, especially since the working poor really pulled out of the political system like flies.
If you look at their turnout, they drop every year, and the voters of the investor class, and of course the elderly, have a big say in the political world.
So they got a lot of help.
But you know, in terms of how to solve this, we 've looked at all sorts of things that can be done, from increasing revenue tax credits to providing more childcare systems, all of this is because, of course, this is a huge problem in this country.
We have a daycare teacher who can't afford the baby.
Their children's nannies and millions of nurse assistants, who are health care workers, do not have health care benefits from their work.
So this is a very complex maze without a simple magic silver bullet.
LISOVICZ: You know, Michelle, one of the things that contributed to this maze is Wal-Mart, the largest private employer in the United States. Mart.
On the one hand, yes, of course, everyone wants a better standard of living.
On the other hand, everyone wants to shop at Wal-Mart.
Mart who did not join the Union. And the way --
I think your article says that hourly wages are about three times the number of ordinary union workers in a competitive business?
In fact, you know, the third one is missing.
What you see now in the grocery industry is a lot of grocery workers with good jobs, paying $18 an hour after work and they have health care.
They were just scared, especially in California, and they saw Wal-Mart. Mart come in.
They are worried that they will also make $7 an hour because they can't afford Wal-Mart at all, so they have to go to California medical
The expensive benefits of Wal-Mart.
I mean, of course, Wal-Mart.
Mart is the largest private employer and they are very active in reducing labor costs.
I remember a Wal-Mart.
The Wal-Mart manager I interviewed he worked in the company for 17 years and he used to have to load his staff behind his pickup truck and drive them to Union Road, and other food banks and social services because they simply can't do that on their payroll checks.
In fact, when you apply for a job at Wal-Mart
Mart, there is a full list of local social service agencies on the employment application form where workers can go for help because many of them simply cannot get help on payroll checks.
Well, Michelle, we have to leave it there.
Michelle Conlin, work life editor at Business Weekly magazine, is clearly a very important topic, thank you.
Conlin: Thank you.
SERWER: There's a lot more to come in the money.
Next, do you need a grill for your backyard barbecue?
Ron Popeil has what you need
Know the salesman of the late night TV station.
Use your mouse from the tee to the green tee.
We will show you how to click the link without leaving the living room.
Come back in a flash. (
Our next guest is a real TV star.
But he did not do so in sitcoms or reality shows.
He became a star by selling products such as pocket fisherman and show time roast meat shop to a large number of late-night TV viewers.
Joining us today is Ron Popeil, a master of inventions and one of the founders of TV commercials.
I have a question, you have an answer!
You have news.
I must know!
Sorry, I'm just going to do this to you.
Listen, tell us how you started.
Ron popeil, founder of RONCO: Well, I started showing products at the Woolworth store.
One of my friends convinced me that he realized that there was a TV station in Florida that could advertise me for $550.
I flew to Tampa, Florida that week.
I made the advertisement.
I put the product in the air.
I put some products in some retail stores in that market and people went in and bought the product.
It becomes another product and another product until we get into the advertising business.
The short list for those days is 30 seconds, 60 seconds, 90-second or two-minute.
When we do the demo in this short form, it sounds like a machine gun, because it's hard to introduce the product and tell the product all the problems solved, tell them the price and where he or she can buy it.
If you try to do this in 30 seconds, it does sound like a machine gun.
With ads, you have 28 minutes and 30 seconds to do the same thing, but do it in a slow, sometimes very interesting way.
Of course, the price of the products is getting higher and the quantity is getting bigger.
So that's how I started.
Hey Ron, I 've always been a huge fan of Pocket Fisherman.
I carry that thing with me. -
On the way home, you can ride a bike and fish. It was great.
POPEIL: there's another one in the trunk of my car.
Of course, you never know when you will catch that big fish.
You must be ready.
WASTLER: Anyway, what is your favorite product? What are the most successful and unsuccessful?
There is no doubt that the most successful is the show time Grill and BBQ.
Most successful projects such as Pastamaker and food dehydrator and Mr.
Microphones and non-smoking ashtray, which retail for about $100 million.
The last barbecue shop--
Well, it has done more than a billion dollars and is likely to do another $2 billion successfully in the next five to ten years.
The roast meat shop has been the most successful so far.
The difference with this product compared to all other successful projects is that when people use it for the first time, they like it so much that they have to buy it for others.
The other day I was chatting with a gentleman with a bank and he told me that he bought a lot on TV.
The effect was not very good, but when he bought the roast meat shop and used it, he liked it so much that he ended up buying 32 machines to give away as a Christmas gift.
He had to come over and praise me--
But this product is not rare.
Other products are unusual.
We have never seen the need to buy so many products for others because you like this product.
LISOVICZ: well, so it's not just a product.
Let's face it, Ron.
This is also the sales skill and entertainment value that comes with your advertising.
You are satirized by the strange Al Yankovic, the Chicago museum has "the appeal of Popeil ".
Of course, your greatest moment could be Saturday Night Live, bass singer Dan aikroyd. O-Matic.
I mean, how humble are you?
POPEIL: Well, it's very nice, you know.
I didn't spend much time digesting these things.
There are many such things outside. I basically --
It is a hobby for me to invent products.
So I might do that for the rest of my life.
I like the idea that I can think about the product that the consumer needs and create it that takes about a year or a year --and-a-
Create half of the product.
You put it on the market.
It makes you feel very good when people like it, especially when they like the barbecue shop.
Of course, I have been thinking about launching a new product.
But when you talk about sales, if you're an inventor, then the easiest thing you can do after spending a year is --and-a-
Half your time is working on this project to make it as good as possible, and it's just a blessing when you invent this product.
But you can sell it so easily.
That's why I'm so passionate when I stand on stage to advertise-
By the way, everything in the advertisement is true from the recommendation below.
So, as I said, people would rather buy products from inventors than just from actually--
Someone gave them the perfect thing, they went on TV, or celebrities, they put their name or face behind the product.
I believe that inventors can sell their products better than a good salesman.
Ron, we only have one--
Another quick question.
I think I have to ask this. Does the Veg-O-
Marty's really cut, cut and cut?
It cuts a cow in half. That's not a bull. (LAUGHTER)
I think we have to finish on that note.
This is definitely a high point.
Of course, Ron Popeil is the founder of Ronco and the father of commercial advertising.
Thank you for coming.
Thank you very much, everyone.
More money can be spent here.
Do you know the difference between stocks and bonds?
We will test your busiest. -
Excuse me. There's a quiz.
Test our producers with your emailmail insights. Drop us a line.
The address is cnn. com. (
LISOVICZ: sadly but the truth is that even most educated Americans are very lacking in financial knowledge.
In the past few months, Alan Wessler has witnessed this with his own eyes.
He has more information about this and the "interesting site of the week.
Alan, get us right.
You know I'm upset here.
We often discuss this topic.
But I have a job opportunity on the website.
I have been interviewing.
We have a test as part of the interview process.
The applicant has to be accepted because a lot of people have been interviewed and yes, I am very interested in business news.
They had a good interview and everything was fine and then when they started writing it was like duh. . .
They know nothing.
They know nothing.
So we have a fast knowledge base.
These people have good resumes and good education.
WASTLER: there is no mba because it is an entry level position.
But they crashed in the test.
I want to know if I have worked too hard in the exam.
I'm here to ask you some questions. And just see. .
LISOVICZ: OK. All right. Andy and I.
WASTLER: How many Dow Jones industrial companies are there.
Say three of them.
In alphabetical order?
Alcoa, Boeing, Citi.
How many companies are there?
Thirty years old.
WASTLER: OK. You win. All right.
One more question for you. . .
Xavier: But you didn't say how much of the Dow 30?
No, I don't. This is a good example.
The names of the three largest investment banks on Wall Street are here.
Merrill Lynch, Goldman Sachs, Morgan Stanley.
You go there. Mr.
Serwer's in there.
It's cool that I got the job. (LAIGHTER)
The last question.
This is a very difficult one.
In general, if interest rates go down, then the bond price goes up, down, will not be affected, or will none of the above be affected?
Very good. All right.
What did we get?
WASTLER: You guys can work on the website.
This has to do with me, because in the previous section, when we talk about poor workers, we refer to the fact that the education system seems to be collapsing, even well-educated people don't seem to find the right job.
It's a bit of a note for me, and maybe something deeper is wrong.
Susan and I are professionals here.
I'm nervous about it.
I have to tell you that I want to cheat and have a look at the problem.
Tell us interesting websites anyway.
Anyway, interesting place, Memorial Day, I was thinking about a picnic and I was thinking about golf.
Picnic and golf!
That's what you got here.
This interesting little site has a map of the hole on it.
What you do is aim with the space bar and the arrow and you can actually--
On some holes, you actually have to pop out of the ceiling of the tunnel to shoot. It's a nine-hole course. . . (LAUGHTER)
SERWER: four bogey, good.
Susan, is that you?
Come on, let your mouse go there.
Anyway, it's fun, you know, if you're going to work. . .
What are those ants like, I never have those yellow ants?
Ants Playing Golftype thingies.
A new species. A new species.
Alan Westler, thank you as always
LISOVICZ: Next money, it's time to hear from you as we read some of your emails
Mail from the past week
You can send us an email.
We are also online now @ cnn. com. (
Now it's time to read your answer, our question is if you think U. S.
The current terrorist attacks are safer than they were before September 11.
An audience from New York wrote: "Although I worked at the World Trade Center, I survived the September 11 attack.
While New York City is not paying enough attention to the issue, what should really be blamed is the inaction of the federal government.
Now that Washington has more momentum, I do feel safer.
"Our city is not safe," writes Ron of Idaho . "
People are afraid that the government will invade their lives, just as the children are threatened by imprisonment for taking a threatening photo in the art class.
What we do is anger people and make us unprepared when the real thing happens.
"We are definitely safer," Marty and Jim wrote . "
Between the incompetence of state and local governments, more and more people leave the city.
Now there are fewer and fewer targets for terrorists in these cities.
"Now our e-
This Memorial Day weekend email question: What is the best way to commemorate the troops we have sacrificed in Iraq?
Send your answer to cnn. com.
You should visit our show page on money. com/inthemoney.
There you can find the address of our "interesting website this week.
"Thank you for joining us for the money for this edition.
Thanks to the editor of Fortune magazineat-
Big Andy Deville and the money
Com Editor-in-Chief Allen wastler.
Join us at three o'clock P. M. tomorrow. m.
When we look at the case of Dick Grasso, former chairman of the New York Stock Exchange, the attorney general of New York State is now suing him and asking him to repay more than $100 million from his salary.
That's three tomorrow. See you then.
To order a video of this transcript, please call 800-CNN-
News or use our secure online order at www. fdch.