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tv   CNN Newsroom  CNN  July 8, 2009 11:00am-1:00pm EDT

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tony harris. the health care push picks up new momentum today. groups get on board. battle of the titans, google announces a new desktop operating system to challenge microsoft windows. and this -- >> and i just want to say i love him so much. >> the stirring farewell to a global superstar. we have your i-reports on the michael jackson memorial service. you are in the "cnn newsroom." hospitals throw a lifeline to health care reform efforts. vice president joe biden moments ago announcing a multibillion dollar savings agreement with
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three major hospital associations. >> every day you see firsthand the impact of the skyrocketing health care costs have had on american families. today they've come together to do something about those health care costs. folks, reform is coming. it is on track, it is coming. we have tried for decades, for decades to fix a broken system, and we have never in my entire tenure in public life been this close. we have never been as close as we are today, and things remain on track. we have these hospitals working with us and the pharmaceutical industry is working with us. we have doctors and nurss, and health care providers with us. we have the american public behind us. everyone sees we need change, and, in my view, we're going to get that change and we're going to get it this year. >> let's get to the bottom line on this, how this deal would impact you. cnn's medical correspondent elizabeth cohen joining us with
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what we all need to know in this business. let's start with how big a deal this is, really. >> the reason i was scratching my head, i was doing a bit of math, because health care reform will cost about a trillion. i don't know about you, but i can't get my head around trillion. i've never had a trillion dollars in my wallet. however, i have needed to eat dinner and spend, let's say $10 for you dinner. >> smaller portions. >> it's a lot easier. so let's say health care reform were a $10 dinner. what the american hospital association has done has said, we will contribute $1.50 to that $10 dinner. that's not bad, but i still need more money to get that dinner. >> exactly. and factor this announcement in with what big pharma announced a few weeks ago, and are we getting closer -- how much close are are we getting to the $10 we need? >> we have $1.50 from the hospitals, about 80 cents from
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the pharmaceutical companies. that's not bad, you're getting there, but still that's a huge gap to close. >> so what does this really mean? what are the hospitals actually agreeing to do here? >> the hospitals are saying, look, we don't like the fact that we spend about $44 billion taking care of uninsured people. uninsured people walk into the hospitals and hots take care of them and they have to eat that cost. as you can imagine, that doesn't make the hospitals happy. they're saying, look, if you promise us, or promise us as much as you can that we'll have fewer uninsured people to take care of for free, then we are willing to take less money in medicare and medicaid payments. so if you think of it this way, let's say i said to you, tony, i'm going to lower your salary, you won't make as much money as i make on. >> hang on. >> but that suit, you can get it for $50, i'll bet you probably paid more than $50 for it. >> just a little bit more. i had squeak here.
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>> yeah. >> so i'm going to say lower user saulry, but you won't have to pay as much for that suit. that's in essence what they told the hospitals. >> we have still yet to determine how much these cost control measures being offered up by big pharma and by the hospital groups, what it real means to the bottom line on the cost of the overhaul, right? we still need to work that ute. >> right. it definitely helps, but they're going to need more. what i think will be interesting is what are the insurance companies going to be willing to give up in so far we haven't heard from them. a little bit, but not much. >> and the doctors. you're back with me in just a couple minutes? >> i am. drilling down on health care reform right here in the "newsroom." legislation is being considered in congress right now, how much would it really cost? that certainly is one of the big questions, causing a lot of controversy and confusion. the other question is how to pay
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for it, but josh levs is here to break it down. >> when it comes to the hospitalization thing, we really don't know, but there's a bill being discussed already. we've heard a lot of figures. let me show you what's going on, there's a a three-letter term. it's ccbo, and this is it, the congressional budget office. there's this independent arm of the government that does this analysis, tries to figure out how much ultimately things will cost. i want everyone to understand this, it's a plan being discussed in the senate right there, the u.s. senate committee on health, education, labor and pension. there's a specific plan, and they -- the cbo has looked at how much it would actually cost. let's go to tr graphic. when they look ahead at ten years, right? of having this plan if place, they are saying the coverage provisions in that act over ten years would cost $600 billion,
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and then they took a look at something else. this just came out last night, brand new, they said if you also look into this act, they want to expand medicaid as well, that would be another $500 billion. let's leave that up there. i want you to understand something. what the cbo emphasizes is just because it would cost that much doesn't mean that it's going to lose that much. there will be other things in the legislation that are there to save money, designed to save money. >> to pay for this. >> to help pay for it. what they're doing is analyzing the spending provisions in this act. as it works its way through the senate, maybe ultimately through congress, these are helpful figures for lawmakers to look at, saying, okay if the cbo says it would cost more than a trillion, how do we start saving money? >> will the cbo actually score the announcement we just ahead from the vice president moments ago about the cost control measures being put in place by the hospitals, by big pharma.
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will the cbo score those numbers? that's something we need to talk about as well. >> as i understand, they'll look at each update, so what we need to look out and see, and this big announcement, vice president biden says the senate committee can grab it, put itself inside the legislation and then cbo can look at the update and say, this is what the impact would be. so anytime they took a look at it, you have new numbers. >> josh, thanks for your help. we'll see you again next hour. we'll bring you more on president obama's plan to revamp the nation's health care system. i will speak with linda douglas from the white house health reform office at the bottom of the hour. by most accounts it was a memorial service befitting a king. ♪ we are going to see the king ♪ soon and very soon
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>> absolutely one of my favorite moments from the memorial service. the world says good buy to michael jackson, and a quick check of the market, and we are in negative territory. not as bad as we were earlier, the dow down nine points. we'll have the update right here in the catherine "newsroom."
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. some wicked storms rum abled through westchester county, new york.
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video here from yonkers where hail the guys of golf balls covered the ground two inches think. damaging winds also downed trees, and left thousands without power. things looking better in the northeast at this hour, at least in new york city, on up into parts of connecticut, but still dealing with low overcast conditions in parts of new england. we are expecting some redevelopment here, showers and thunderstorms later on this afternoon, but not really anticipating severe weather. that will stay confined up here across much of the upper midwest. a moderate risk for large hail, damaging winds and even isolated tornadoes, also some convert down here across the southeast along the gulf coast where they've been getting hit very hard. this has been going on all morning, folks, across northern parts of florida, and an additional one to three inches on top of what you already have possible. northern parts of florida certainly on the west side, it
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has been hot across parts of the south. record highs yesterday in miami yesterday of 95, today should get up to about 93. heat across the central plains states and southern plains as well. 100 degrees with heat advisories across much of that state. that's the latest forecast. tony harris back in the "newsroom" right after a break. we've made a great product even better. now every drop of shell gasolines... contain a nitrogen-enriched cleaning system... that seeks and destroys engine gunk... left by lower-quality gasoline. it protects engines from performance-robbing gunk. try new nitrogen-enriched shell gasolines.
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president obama and leaders of the world's biggest economic engines are in italy today. it's their annual g-8 summit. the meeting is in la quicka. paula ne l'aquila. paula newton is there. i understand the leaders are breaking away to take a look at the damage? >> reporter: absolutely. it's hard to get away from that
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earthquake story. that's why berlusconi had it here, he wanted to bring attention to it is devastation. you can still imagine how tough it is on the people still in tents and what they're trying to get is get them into permanent accommodations by the fall. president obama will be serving that with the italian prime minister, but background noise to all of this, tony, italians right now have quite a scandal on their hands with silvio berlusconi. they are used to this. he's been prime minister three times, each time plagued by scandal, but this one takes all. take a look. >> reporter: with his roots in showbiz, silvio beryl down has also pursued what iltan crass call labellea feruggia, or making a good show of it. his third meeting of hosting
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duties is no different, but the scandal beats all this time, even for berlusconi. in an interview, the woman admitted being a high-paid prostitute at the center of an investigation into whether italy's prime minister paid for sex. >> translator: i feel that i am the only one here that is telling the things that no other woman dare say. >> reporter: berlusconi has denied all charges, but as lurid pictures of parties at his villa hit the papers, some are questions not only his judgment, but whether he's fit to lead italy. "the economist" has always had an opinion on that. and still its editors admit -- >> a surprising number of italians find him charming and cheerful, and his brushes with the law, they almost sympathize
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with, because the italian state is not highly respected by many italians. >> reporter: what's been incredibly frustrating for both of opposition, is the most he seems to be, the more popular hi becomes. mr. berlusconi is a very tough man, especially when he's in the midst of a fight, and i think that he is going to be taking this g-8 with the usual energy and enthusiasm. >> reporter: to all this, berlusconi recently told cnn he had never committed a gaffe. >> translator: i have never made nits gaffes. every one is invented by the newspapers. >> reporter: newspapers don't have to invent this, tony. a lot of times the cameras are rolling, but berlusconi says this is all part of his charm. he keeps reminds us that his
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approval ratings has only slipped a few points. let's pivot from the berlusconi story. is it true, paula, that a basketball court has been set up there for president obama? >> reporter: well, you know, authorities refused to confirm or deny it, but i have seen some pictures of t you know, when you wheel in those basketball nets, they're kind of hydraulic. apparently just here to my left it's in a parking lot. you think of this as a military bar racks, even if you're outdoors, al fresco, you'll play a bit and i think they're hoping that he'll take advantage of it. he will be here for two nights, so it will be interesting. another things to throw in, this region is suffering aftershocks, they had a pretty big one on friday, so a lot of different factors may play into that basketball game. >> well said, paula newton, appreciate it. chinese president hu jintao
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abruptly left the gayle summit today to handle a crisis at home. police rolled into the xinjiang province to, a huge show of force designed to quash the violence. some 1,400 people are believed to have been arrested. cnn has learned some disturbing new details about what investigators found when they arrived at jackson's home 12 days ago. here's what we know. a source inside the investigation tells cnn jackson was emaceated, his arms riddled with track marks, veins in both arms were collapsed. numerous bottles of, quote, dangerous drugs were found in the home. the source also says his body was paper white from head to toe
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and was bald. we won't know the caught of death until a toxicology report is completed. did you watch the memorial service? millions tuned in yesterday to celebrate the life of michael jackson. here are some moments to remember. >> i just want to say, ever since i was born, daddy has the best father you could ever imagi imagine, and i just want to say i love him so much. >> both of us needed to be adults very early, but when we were together, we were two little kids having fun.
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♪ when there are clouds in the sky ♪ ♪ you'll get by ♪ if you smile with your spirits follow ♪ we will never understand what we endured, not being able to walk across the street without a crowd gatheren around him, being judged, ridiculed, how much pain can one take? maybe now, michael, they will leave you alone. so those are some of the our favorites. now, tell us which one is yours. go to my blog, cnn.com/tony, and take your pick. we will check the results next hour. as you probably expected, michael jackson's albums flew out of the stores in the first full week after his death. more than 650,000 were sold,
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another 144,000 downloaded from the internet. sound scans charts this morning lists jax are not's number one collection as the top seller, followed by "thriller" and newly released "now 31." so many of you have shared your stories how he affected your life from the i-report desk. tyson is engining us with some final tributes. i would imagine a lot to choose from. >> tony, the king of bottom will always be remembered for his white gloves, dark glasses and thrilling dance moves, but for many fans he was much more, an icon, an inspiration, even an obsession. since his death, thousands of cnn viewers have been sharing their favorite memories of m.j. on our report, and we've taken many of the i-reports to this michael jackson memory book. i'm going to share a few of the
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most recent memoriememories. let's start with stephanie mazzuca, who had this tlelg encounter with him. she was just 10 years old, standing in line with the dumbo line when a woman approached and asked if she wanted to cut in line. minutes later she was sitting next to the king of pop. she said the two talked erg did the entire three-minute rite. it was like a conversation with your next-door neighbors. one of the his assistants took this photo and later mailed it to the family with a nice thank-you card. to this day, she says, i still wonder why i was chosen. thinks a photo taken by broderick morris, who spent time with him during his tour of japan. here m.j. poses with a superman statue in an electronics show. she says he was a great father, and says, quote, i believe his kids really loved him. where's this next one? you're going to love this.
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this comes to us from gayle davis. she snapped this shot of michael jackson and david bowie. >> we've seen this one. >> backstage. this is from 1983. of course the legendary performance together there. this is did you bowie's "serious moonlight" tour. davis said they chatted it up before joining a celebrity-packed audience to watch the show. and last, but not least, a candid moment caught on camera, from vanessa, who met him in trinidad. she and her family met him on the beach, took the photo of them walking together, and she says they got to know him as a truly wonderful,endic and kind human being. we, of course, wants to thank all of our i-reporters for sharing these precious memorieses, and we encourage you to share yours. >> tyson, appreciate it. thank you, sir.
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>> thank you. you've lost your job, you have no income, but the reality is the credit card bills keep piling up. what do you do? we'll ask gerri willis. (man) i'm rethinking everything... including who i trust to look after my money. ♪ (woman) the dust might be settling... that's great, but i'm not. ♪ (second man) i guess i'm just done with doing nothing, you know?
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♪ (third man) oh, i'm not thinking about moving my money. i am moving it. tdd# 1-800-345-2550
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all right. here's the scenario for you. you're out of work, and overbudget, and those credit card bills keep piling up. unlike the state of california you can't pay with ious, so what can you do? gerri willis has tips. great to see you. >> yeah, you can't pay with ious, darn it. >> what's the first step? >> whenever you have a bill you can't pay, whether it's a medical bill or credit card bill, whatever it is, you want to contact that creditor, try to work out a plan. the reality is when it comes to credit card dpees these days, more and more of them want to work with you. ask them for a payment plan, and talk to somebody at customer service. if the first person can't help you, move up the line, ask for their supervisor, or even ask for a lower rate, that the fees be waived, and as you do this, tony, it's critical that you document all your conversations,
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what are they saying to you? what are you saying to them? when are you calling? how many times have you talked to them? one website is called help with my credit.org, a website from the industry, but it's about credit card debt, how to get rid of it, what to do about it. >> i tell you, i've got hearing a lot of commercials about you can get your credit card debt forgiv forgiven. is there any way to get a portion of our all of your credit card debt forgiven? >> let's for the get greedy here, okay? it is your debt, after all. you do want to pay it back, but the dirty little secret right now is they do forgive some debt. as i said, don't expect a sweetheart deal. we're not talking about 100%, we're not even talking about 50 cents on the dollar. we're probably talking maybe 20%, 30% is what you would end up paying, but there are rules of the road. you typically have to be 90 days
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past due, three months without payments before you can get some of the dead forgiven, and this will hurt your credit score big time. make sure you need to do this before you get involved, an the other reality is you'll get hit with a tax bill if you get more than $600 forgiven, because that's considered income. so if you're spooked by this whole thing and you think it's scary, go to the national foundation for credit counselors, they can have somebody help you through this, but you can do this on your own? what do you do, pick up the telephone. you've got to talk to them. do not wait. as soon as you see you're in trouble, or you think you're getting behind, take initials step right away. i need a plan. if the plan isn't working, i want some forgiveness. >> you have always said that consistently. you've got to pick up the phone and make the call. what if you can't make your payments? >> well, here's something
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interesting to understand, i think. if you are really up against it and let's say you have an incredible amount of debt and you can't make the payment, here's what you need to understand. credit card debt is unsecured. there's no azest behind it. the credit card company isn't going to take away your mom or mode of transportation. they can't do that. so at the end of the day, what should you be paying for first? the roof over your head, your car, food on the table, utilities, the stuff that you have to have. credit card debt is one of the last things, actually that you want to pay. now, clearly you always want to be a good citizen, have the best credit core possible, but if you're one of those people who is in way, way over your head, understand that this should be closer to the bottom of the list, and if you have questions, you know how to get ahold of me, send me an e-mail to gerri@cnn.com. >> good stuff, gerri. thank you. >> my pleasure. have you heard this story
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that walmart is no longer the biggest world company? find out more by looking on to cnnmoney.com. all this money marked for the stimulus plan, is it stimulating the economy? that is a question about asked at a house hearing this very hour. a gop memo accuses the administration of misreading the effectiveness of the stimulus. we have more, and kay, this has certainly become a hot topic. is the stimulus working? >> a very good question, tony. this is the third hearing in a series of hearings held by the committee to track stimulus funding. the chairman said very clearly exactly what you said, tony, what they want to learn today, is the recovery act working? that seems to be a tall order. listen to republican congressman
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darrell issa, he's highlighting one of the chief concerns and criticisms of the administration's implementation of this act, accurate reporting and transparency is where the money is going. >> aren't the american people in this day and age in which we can google and find out what the neighbor's house is worth, when it last sold, what it's appraised at, why are we not in fact able to see when money was spent, no matter how spent, by the state or local or federal governments. >> reporter: republicanss are hitting the obama administration on its claim of saving or creating 150,000 jobs so far. republicans accused administration of, quote, rigging the game by using what they consider an impossible measure of tracking that effect i haveness, verifying how a job is either created or saved. now, this hearing follows what republicans say are some mixed messages coming from the administration. vice president joe biden telling abc there was a misread of how
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bad the economy truly was, and then president obama have been to clarify that to nbc while in russia, saying they received incomplete information when it comes to the economy, tony. >> is anyone defending the stimulus plan? >> in this hearing there are two people, two of the witnesses that they're talking to right now, with you ben gene dedarro, the comptroller of the gao. they're doing a bimonthly study. also, rob naybors -- >> is that who's speaking right now? >> exactly. >> so gene dedarro, he did say there is good here, money is flowing to states, and he says it seems very clear that the stimulus money has helped to stabilize the difficult fiscal situation with state and log government budgets. that's a good thing. rob naybors, when asked about how are you tracking this money and saving and creating jobs and
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making sure that's happening, he says they do believe they are on the right path and they are making progress. tony? >> this is important stuff. if you get some additional reporting coming out of this, give us a bit of a heads-up. >> absolutely. >> indicate boldkate bolduan fo washington. you go right to the source. the white house health reform communications director joining us next, live right here in the cnn noirnl. "newsroom." and we can say 700 miles on a single tank and epa estimated 41 mpg city and all the words stick because they're true. we speak the most fuel-efficient midsize sedan in america. we speak the all-new 2010 ford fusion hybrid. get in... and drive one.
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good choice. only meineke lets you choose the brake service that's right for you. and save 50% on pads and shoes. meineke. a step towards overhauling the system, just 30 minutes ago, vice president biden announced hospitals are ready to give up millions over the next ten years. joining us is, and our medical correspondent is with us as well. linda, i want you to talk us through this announcement from the vice president this morning, the case this is a good deal, you know you'll likely need the support of moderate republicans like center olympia snowe. i'm sure you saw the piece where she said we have yet to evaluate the specifics and particulars
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here, so it's uncertainly if it could be helpful. so make the case. i'm olympia snowe. make the case that this was an important deal. >> no question this is an important deal. this the second time one of the major parts of the health care industry, the private health care industry has come forward and offered to make real reductions in savings, measurable reductions in savings to help finance health care reform and also reign in the rising skyrocketing costs of health care spending. they would be in legislation, conform to the kinds of policies the president has already laid out. there's a tremendous amount of waste in our health care system, which everybody who uses the health care system knows we're talking about public health care spending, medicare and medicaid where there are vast amounts of modern that are simply wasted. what the hospital industry has done is come forward to say we're going to bring the costs down and put in legislation.
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>> that's important. you're going to say it's actually going to be in the legislation, which means it will be scored by the cbo? >> what the hospital industry is negotiating -- has negotiated with the financial committee, which is one of the committees writing legislation is, yes, we will agree to make $155 billion in reductions in spending over the next ten years to help bring down the cost of health care, to help expand coverage, which is a very, very important goal, which would be part of the legislation. so if that is the legislation that is signed into law by the president of the united states, and we certainly expect legislation to be enacted this year, those will be the provisions that were agreed to, yes. >> okay. i know elizabeth has a couple questions. >> linda, certainly this is big news coming from the hospital association today, but there's a lot of other constituencies here, a lot of other stakeholders, one being the american people.
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most americans do have insurance through their employers, and they're actually pretty happy with their insurance, and surveys show they're a little nervous about health care reform, a little nervous that reform means that they might start to not like their coverage so much. even though the president has said over and over again, don't worry, if you're happy, health care reform won't change that. are people hearing that message? if they're not, what are you going to do to try to change that? >> absolutely. first of all, americans are experiencing the crushing pressure of rising health care costs. even if you have insurance, you have seen your premiums, your co-pays, your deductibles are rising. if you work for a small business, your xloir has cut back on your benefits. as you correctly said the president has made it clear if you have health insurance already through your work that you like, nobody is going to make you change that. what we're talking about is making sure that all americans have access to affordable health coverage and feel secure that there's art and health coverage
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for them if anything happens to the coverage they have, and for people who already have health insurance, they will see their costs go down, they will see they'll be able to spend more time with their doctor, because no longer will the insurance company be able to say you've got to have exactly the right code or we're not going to reimburse you. your doctors spend so much time on the phone now with the insurance company, he's going to be able to spend more time with you, there will be incentives to make sure there are checkups so people don't get sick in the first place, and they know that. >> health care reform means i'll get to spend more time with mire doctor? can you quantify that? >> well, what we're talking about here is not only making sure that, again, if you have a health care insurance that you like, you can certainly keep it. if you are underinsured, as so many americans are, you don't have enough to coverage operation, you'll have access to an affordable policy. if you want to change jobs, if qulur child has asthma, you'll
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have access to affordable health insurance, no longer will the discriminatory policies be allowed, but we're talking about realigning the incentives, so the doctor can spend time asking how you are, rather than spenting time with the insurance company on the phone or fighting to get you to reimbursement. >> a couple quick ones, you mentioned the savings from hospitals will be in the legislation. how about those same reductions announced a couple weeks ago by big pharma? will those reductions be in the legislation? >> absolutely. absolutely the same thing. the pharmaceutical companies in the united states made an agreement, again with the senate financial committee that the savings, $80 billion in savings that they have proposed to make that will both reduce the cost of prescription medications for seniors under medicare, seniors who wind up with huge out-of-pocket expenses, and also financing health reform as well to help expand coverage, that
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would be in the legislation. >> one more quick one. that doesn't cover the cost of reform, and you know that. so is taxing the portion of health care benefits paid for by employers, is that still on the table? >> well, as you know, the president has already put $950 billion on the table. $600 billion of which is savings that he's talking about, reducing waste, fraud, and all of the reasons that health care costs in the public sector are rising so much. in addition, he's proposing to return the rate of itemized deductions for the wealthiest moderns back to where they were when ronald reagan was president. that's an idea he likes, by the way, congress is talking seriously about this idea now, this is what the president has proposed. that is the way that he's proposing to generate revenues, as well as, by the way, primarily reducing the rising costs with savings. >> will the president sign a bill that taxes the health care benefits paid for by employers?
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>> well, you know we're not going to get into what the president will do or not do at the end of the process. what the president has said very clearly is this bill must lower costs for all americans, and it must be deficit-neutral. it cannot add to the deficit. he's been very clear about that, and congress is proceedings along those lines. >> linda douglass, thanks for your time. we're going to take a break, and more in the "cnn newsroom" in just a moment. nothing beats walmart's unbeatable prices... but now they have new areas where i can find the brands i use every day-- and save even more. so that's what they mean by unbeatable. save money. live better. walmart.
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you know, it's only july, but the salvation army bell ringers are already out. the salvation army in long island says the community is in
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such dire need they've had pushed up their annual christmas drive by five months. >> our requests for service has gone up 200% when compared to the same period last year. you see the kettle, there's one thing to do, reach into your pocket, into the purse, make the best donation you have and put it right there. >> one coordinator says she's received 400 phone calls a day, just one of their key locations. you know, some creative californians are getting into the iou buys business. the state started issuing them, in returns those vendors earn 3.75% until under the government can shore up its budget and pay back the money? >> landlords are not going to accept ious, you know, they want money. >> the vultures are going to come out of their nests and descend and try to take advantage of the situation.
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>> meanwhile, the state treasurer said california won't redeem the ious sold from one person to the next unless they were signed by a notarized bill of sale. you follow all of that? so you hate your job, but with the tough economy you're too worried to quit. guess what? you are not alone. one more thing. all right. thanks. ( oboe/piano music playing ) announcer: why throw away your money? switch to sprint. save $360 a year with the everything data family plan and get the blackberry curve 8330 smartphone for just $49.99. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com. mr. evans? this is janice from onstar. i have received an automatic signal you've been in a front-end crash. do you need help? yeah.
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the recession has dealt a big blow to many workers' paychecks and to their spirits. and now more than ever people are staying put at their jobs even if the daily grind has them feeling miserable. susan lisovicz is at the new york stock exchange with more. good to see you, susan. >> good to see you, tony. yeah, when you think about it, an estimated 6.5 million jobs have been lost since the start of the recession, so you'd think that millions of us would feel lucky that we're holding on to our jobs. but it seems that, well, a lot of us -- of course, present company excluded -- >> there you go. >> -- are pretty miserable, too.
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according to a new survey, 54% of workers plan to look for a new job once the economy rebounds. why do they want out? well, increased workloads, because there are fewer workers there, right? fewer benefits and lower pay. and workers who are 18 to 29 are even more antsy to leave with nearly two-thirds of those folks waiting for a rebound before giving their notice, tony. >> well, so, a lot of people unhappy at work. but most aren't even considering quitting, at least not in the near term, correct? >> no question about it, tony. >> yeah. >> and it's pretty easy to figure out why. there are roughly six applicants for every job postings. those kind of odds, no wonder so many of us are staying put. the folks competing for the jobs that do open up, are often laid off. they have skills, experience, and most importantly, hunger to work. so, they might be willing to take a pay cut or a demotion to land that steady paycheck, tony.
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>> so, a good strategy to hunker down and just stay where you are? >> that's right. you know, a new labor department report, tony, shows employers were less willing to hire in may. and, you know, there are signs that, you know, that this is, you know, not going to change anytime soon. >> right, right. >> the hiring rate, 3% in may, it's been the same level every month since february. we do have more upbeat news from the imf. it boosted its outlook for next year saying gradual recovery in the u.s. is on track but that recovery will be weak. "weak" is the word for stocks right now. we're seeing a little bit of a selloff after we started higher. family dollar shares, tony, up 10%. recording its best quarterly profits ever. more than 35% higher. most of its products sell for less than ten bucks. >> yeah. >> it's a different lifestyle for a lot of us whether we're working or not, tony. >> yeah. but you know what, it seems to me that unhappy workers are less productive workers.
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we've got to find a way not only to hang on the job but to find some -- >> to make it work for you. >> thank you. susan, see you next hour. next hour, we will look closer at the obama's administration's efforts to overhaul the system and the senate fight over footing the bill. a live discussion with our money and health experts, coming your way. plus, walmart moves into india. the u.s. retail giant hoping to cash in on new territory. and deadly days for u.s. and other foreign troops in afghanistan. we will take you live to the pentagon for answers.
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you know, success in business can happen to anyone with a dream, and in today's "black in america" segment, ed lavandera uncovers at least one secret to success. >> reporter: you know you've arrived in the business world when your office can look like this -- >> this is my stuff. >> reporter: michael and steven roberts lanched their business
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empire from a historically black neighborhood in north st. louis. they estimate their company which holds everything from hotels to tv stations to be worth almost a billion dollars. so, someone watching this who says, you know, that's really easy for these guys, they've got millions and millions of dollars, they can go out and buy whatever they want. you know, i have two quarters to rub together. what do you tell that person? >> that we also had two quarters to rub together. we weren't rich. we weren't poor. but we just never had any money either. >> we tell folks, learn it. get your hands dirty, you know, a little sweat equity and then -- and then you will know it, it becomes yours. >> reporter: the roberts brothers say the key to success is putting ideas into action. they are relentless workers, always looking to make a deal. >> creatures, we're animals of the earth. what other animal retires? i mean, if a lion retired today, tomorrow morning he becomes breakfast. >> mike was elected first. >> reporter: they are both
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elected to the st. louis board of aulderman. they run tv stations and telecommunications companies. their name adorns every property, the roberts village, the roberts loft, the roberts mayfair hotel, but don't compare them to donald trump. >> what may appear to you today as ego 40 years from now will be legacy. and black folks need legacy. we have to have examples of successes in order for us to be able to let the generations to come know that many of the successes that occurred by african-americans in this country can be seen and pointed out and can be emulated. >> reporter: the orpheum theater in downtown st. louis indicates their quest for legacy. they were only allowed to sit in the highest balconies, and now they own the theaters.
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i assume your mom gets a front-row seat? >> oh, yeah. mom can sit wherever she likes. >> reporter: that is priceless. >> hey, mom, how you doing? >> reporter: ed lavandera, cnn, st. louis, missouri. >> and get more stories on people creating successes on "black in america 2." first, this hour leaders of the world's biggest economies are in italy focusing on the global financial crisis. for president obama, it's his first g-8 summit. the leaders say the global economy remains too shaky to be unwinding stimulus plans now, but they are studying ways to do that when the time comes. the summit is taking place in l'aquila, italy, rocked by a big earthquake. the leaders got a look at the damage. and on the hill, they are arguing that the stimulus plan isn't working, and democrats counter it will take longer to see some results. >> mr. chairman, i opposed the
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stimulus, and i might remind you, it was the second stimulus, having already tried handing out dollars under the previous administration. i voted for that stimulus. one might say, fool me once, shame on you. fool me twice, shame on me. in fact, i believed that the discredited keynesian theory is misguided and i'm convinced it won't work. >> in the short term, the recovery act is helping the states deal with their fiscal stresses. but we haven't seen the full story here that will unfold over the next few years. >> okay. good points to be made, both ways, or does someone have it wrong? let's talk about it with kate bolduan. she's joining us from washington. and, kate, look, all the elements are certainly here for a spirited debate. is that what we see playing out? >> yeah, we are. i mean, often, tony, let's be honest, sometimes the hearings on capitol hill are rather dry to say the least. but there is some spirited debate, i think because people obviously really care about this issue and it's been going on,
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this recovery act was passed in february, it's been going on now for quite a while. the chairman said at the very top of the hearing, very clearly, what they want to hear clearly is the recovery act working. well, it seems there's good news and bad news there. the comptroller general whom you heard from of the government accountability office, he said the money has helped to stabilize local and government budgets which are under great stress. but the chairman of the committee seems there also seems to be significant shortfalls in tracking the funding, a major criticism by republicans. listen here to a heated exchange over the question of job creation or, rather, slowing job loss, between republican congressman jason chavitz and omb deputy director nabors. >> how do you justify saying that you're slowing the free-fall? >> i think what we would do is look back at the job loss that we saw in the first quarter which was approaching 700,000 jobs a month and look at where
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we are right now. we're not happy with the job loss we're seeing right now. >> we're not happy either. but the projections and the administration put forward and what would happen or not happen if we did and didn't do the stimulus are dramatic. they're unacceptable. >> we believe the job loss is unacceptable as well and -- >> the president is quoted as saying, quote, the stimulus has done its job. is that true or not true? >> we believe the stimulus has had the impact which we predicted, which is job creation. >> so far the administration says the recovery act has saved or created 150,000 jobs. now, republicans criticize that number, saying simply the government's measure of this is impossible to verify if a job is created or saved. they say it's just too hard to measure. this hearing, tony, follows what republicans say are some serious mixed messages coming from the administration by vice president biden telling abc saying there was a misread on how bad the recovery was and obama clarifying that to nbc while in
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russia saying they received incomplete information. >> you would wonder, maybe the question goes to the states as to whether jobs have been saved. states are a large recipient of a lot of these stimulus dollars. but, i'm wondering, so we're getting a lot of talk today. >> right. >> so, kate, anything likely to come of it? >> let's do a little bit of reality check here. >> yeah. >> i would not anticipate anything major coming out of this, other than it's important to bring to light the state of play when we're tracking this major, huge amount of money. this is a series, this is actually a third hearing in a series of hearings that this one committee, the house committee is holding, to track stimulus funding. so, don't expect major changes, but they are tracking it and trying to keep, we like to say, keeping people honest. >> kate, thank you very much. >> of course. if the current stimulus plan isn't doing much for the economy, it is sure doing something to boost republicans. our jim acosta has more on that. >> we put the dogs on the money trail to find out. >> reporter: in the latest sign the economy is in the doghouse,
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republicans are siccing their bloodhounds on the stimulus, with this video that asks, where are the jobs? >> i'm john boehner. this is ellie may, she hasn't found any stimulus jobs yet, and neither have the american people. >> reporter: it's an issue that dogged the president all the way to russia, where mr. obama clarified statements made by his own vice president on the recession. >> there was a misreading of just how bad an economy we inherited. >> reporter: not exactly, according to the president. >> i would actually rather than say "misread" we had incomplete information. >> reporter: who still believes the stimulus was the right call. >> there's nothing that we would have done differently. >> reporter: but republicans point to president obama's dire warnings back in february, when he urged the congress to pass the stimulus. >> we're moving quickly because we're told that if we don't move quickly that the economy's going to keep on getting worse. we'll have another 2 million, 3
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million, or 4 million jobs lost this year. >> reporter: it turns out even with the stimulus, the economy has shed 3.4 million jobs in sust 6 months. while the president said he's now open to a second stimulus, one of his top economic advisors is already calling for one. laura deannedia tyson told a summit in singapore we should be planning on a contingency basis for a second round of stimulus. republicans say the white house can't get its stories straight. >> they said the stimulus was necessary to jump-start the economy, now with about 500,000 jobs lost every single month, they start to admit they simply misread the economy. these were costly mistakes and we can't take them back. >> reporter: despite a rough couple of weeks for republicans, gop strategists see their own political green shoots of recovery on the economy. >> nothing has galvanized the republican party than the stimulus vote. one thing we've seen the president's popularity, while
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he's still popular throughout the nation really is taking hits in key states. >> reporter: which state? try the key battleground of ohio, which may explain the white house is not alone in considering a second stimulus. democratic leaders in congress are also kicking around the idea of a sequel, even though some in the party are clearly disappointed with the original. jim acosta, cnn, washington. well, health care reform is coming, that proclamation just last hour from vice president joe biden. heed said the white house has reached a multibillion dollar deal with hospitals to help pay for president obama's overhaul of the nation's health care system. >> savings that will be applied toward the president's firm goal -- firm goal -- of enacting health care reform that is deficit neutral. health care reform that is deficit neutral. as part of this agreement, hospitals are committing to contributing $155 billion -- $155 billion -- in medicare and medicaid savings over the ten years to cover health care cost
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reform. over the next ten years. >> we will break down the plan to revamp the nation's health care system. i'll be joined later this hour by cnn senior medical correspondent, elizabeth cohen, and cnnmoney.com's jeanne sahadi, that's about ten minutes from now in the "cnn newsroom." with the u.s. leading a new offensive in southern afghanistan, taliban insurgents are stepping up retaliatory attacks. at least nine american troops have been killed in recent days, including one today. seven british fighters and six afghan police officers have also died. the u.s. commander leading the assault in southern afghanistan said he needs more afghan soldiers to step up. he talked to reporters from the war zone. >> seven days ago tonight we inserted a drone 100 local. we inserted 4,000 marines and sailors into the helmand river valley, over a period of about seven hours. the intention was to go in big, strong, fast, overwhelm any
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opposition, and frankly save lives on all sides. but most specifically, save civilian lives. and given what we have found here is that in some areas there is still some fighting going on, but in large part, the enemy has -- has not resisted too strongly. >> all right. the u.s. push in southern afghanistan involves 4,000 marines, but 650 afghan troops. we want to get to our senior international correspondent, nic robertson right now, he is in islamabad, pakistan, and he has the latest on u.s. attacks on the taliban in pakistan. nic, good to see you. what do you have for us? >> reporter: well, tony, there have been two what are attributed here as intelligence forces, u.s. drone strikes in pakistan today. one coming in the very early hours of the morning, targeting south waziristan in south afghanistan, killing about eight people in the attack.
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another attack later in the day again targeting the camp of baitullah mehsud, the most wanted leader at this time. the strikes although they are by u.s. drones, very much in concurrence, if uh will, with what the pakistani military is trying to achieve in the same area, which is pinning mesud down and killing him. but programs the biggest breakthrough coming this evening, they announced a that they have wounded the leading taliban figure in the swat valley, just north of islamabad here. if you remember a couple of months by, the taliban was so close to the capital that they could overrun it and now they've wounded the main taliban leader there. tony? >> okay. and i'm assuming that's wounded and captured this taliban leader? >> reporter: you know, very few details. you only hear it playing close to the chest. they won't say how badly wounded. they won't say when he was wounded. but the key part of the strategy
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here, they believe they can take down the taliban leaders. this guy is maulana fazlullah, known as muhlah radio, because of the fm radio broadcasts. they believe they can take down the taliban networks and make them crumble. that's the strategy and that's why they are willing to publicize they believe they've wounded him, tony. >> nic robertson from islamabad, pakistan. nic, appreciate it. thank you. government investigators, listen to this, test security at ten federal buildings. all ten flunked. undercover agents were able to smuggle bomb parts past guards, then assemble the pieces in bathrooms. the agents took the bombs into federal offices without detection. and to add to the embarrassment, some of the tested buildings are home to agencies of the department of homeland security. one guard was discovered sleeping on the job. another was caught using government computers to manage his online business.
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an adult website, and there's more. >> we found 62%, or 411 of the 663 guards who were deployed at a federal facility, had at least one expired firearm qualification background investigation, domestic violence declaration or ctr, first aid training certification that was missing. more specifically, according to the most recent information from one contractor, we found that over 75% of the 354 guards at a level four facility had expired certifications. >> the federal protection service handles security at federal buildings. the organization is made up of 1,200 federal officers and 13,000 private security guards. disturbing new details from the investigation into michael jackson's death. our reporters are working the story. (voice 1) traffic's off the chart... (voice 2) they're pinging more targets...
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(voice 3) isolate... prevent damage... (voice 2) got 'em. (voice 3) great exercise guys. let's run it again. ies who need (voice 3) great exercise guys. assistance getting around their homes. there is a medicare benefit that may qualify you for a new power chair or scooter at little or no cost to you. imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it. one company that can make it all happen ... your power chair will be paid in full. the scooter store. hi i'm doug harrison. we're experts at getting you the power chair or scooter you need. in fact, if we qualify you for medicare reimbursement and medicare denies your claim, we'll give you your new power chair or scooter free.
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i didn't pay a penny out of pocket for my power chair. with help from the scooter store, medicare and my insurance covered it all. call the scooter store for free information today. call the number on your screen for free information. we are checking up on how the president and congress are hoping to pay -- to pay -- for health care reform. i'll get some answers from our senior medical correspondent, elizabeth cohen, and cnnmoney.com's jeanne sahadi.
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a day after michael jackson is eulogized, we are learning
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more about the condition of his body the day he died. our randi kaye has the latest on the investigation. >> we have a gentleman here that needs help, and he's not breathing. >> reporter: cnn has now learned disturbing new details about what precisely police investigators found when they answered the 911 call from jackson's house 12 days ago. >> he's not conscious, sir. >> okay. >> reporter: a source involved with the investigation tells us jackson had, quote, numerous track marks on his arms and that those marks, quote, could certainly be consistent with the regular iv use of a drug, like diprivan. diprivan is the powerful sedative commonly used in anesthesia in a hospital. a nurse who had worked for jackson told cnn he had begged her for diprivan a few months ago so he could sleep. our source cautioned investigators can't say right now if a diprivan iv drip caused the track marks on jackson's arms. some of the marks, the source said, appeared fresh.
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others, older. in fact, some of the newest marks could have been caused when emergency medical personnel rushed into the house and used their own ivs in an effort to save him. the source would not confirm if diprivan had been found with jackson. but he told us numerous bottles of prescription medication had been found in jackson's $100,000 a month rented mansion. he described them as, quote, dangerous drugs, similar to those found in a hospital setting. that's as far as he would go. as for jackson's body, the source said he'd never seen anything like it in decades of investigative work. he described it as, quote, lily white from head to toe. was it caused by the disease jackson said he had? we don't know. another source with knowledge of the case described jackson's body as having, quote, paper white skin as white as a white t-shirt. he also told me his scalp was bald, that the pop star had no hair, that may have been a
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result of injuries jackson received when his hair caught fire while making his pepsi ad years ago. this source also said jackson's veins were, quote, collapsed in both arms. suggesting frequent intravenous drug use. his final note, the body was emaciated. ♪ despite the vigor jackson showed onstage during his final rehearsal just 36 hours earlier. randi kaye, cnn, los angeles. >> boy. tough stuff. yesterday's celebration of michael jackson's life had so many moving moments. we picked a few, but on my blog, i've asked what was your favorite. was it that goose-flesh moment when his daughter, paris, took the microphone when jermaine sang or maybe when brother marlon and brooke shields shared their memories? just go to my blog at cnn.com/tony. and weigh in, vote, if you wouldn't mind. how do we keep track of the
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real cost of health care reform? we are checking up on what administration officials are saying. so what do you think?
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i think i'll go with the basic package. good choice. only meineke lets you choose the brake service that's right for you. and save 50% on pads and shoes. meineke. i'm grabbing your hand because i need so much help on this. i mean, you're really doing the heavy lifting on this, elizabeth. >> thank you. >> please, don't you go, joined at the hip, at the hip. i'm now seeing help and overhauling the nation's health care system. vice president joe biden said hospitals are ready give up $155 billion in government payments over 10 years.
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joining me to discuss the administration's reform effort, you've met on several occasions our senior medical correspondent, elizabeth cohen, doing the real heavy lifting here. and helping us out as well from new york, cnnmoney.com's jeanne sahadi. jeanne, thank you for being with us. can't get you on television enough, but we're working on that as well. elizabeth, let me start with you. on the face of it -- we'll drill down. on the face of it, was this, is this an important announcement from the vice president. >> it's an important announcement, no question about it. they got some would say concessions from the hospitals. all right, we're willing to kick in some money to make this work. and it's interesting the republicans are framing it as hospitals being bullied into making an announcement. which is interesting, i've never heard of hospitals being bullied before. but anyhow, be that as it may, we broke it down in sort of a dinner analysis. >> this is wonderful. >> because a trillion dollars is too much for any of to us grasp -- >> that's the working price tag right now, a trillion colors.
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>> a trillion dollars. they contributed $155 billion. let's say you and i want to have a $10 dinner, basically what the hospital said we're going to pay $1.55 towards that dinner. so, $10, $1.55. the pharmaceutical companies will kick in 80 cents. right now we have $2.35 towards our $10 dinner. >> got you. >> that's still a lot more money. if they put it into real terms, they are still looking for $765 billion to pay for this thing, and there are all sorts of plans about what they can do. but, you know, until it's nailed down, i think people are always going to be a bit suspicious is it too expensive. >> it just gets us the croutons on the salad, but not the salad. jeanne, the hospital deal, does it help pay for health care reform? which the president says he wants to be deficit neutral, what are your thoughts on this? >> well, elizabeth portrayed the ideal picture. that's what the dealmakers are trying to tell the public. we'll pay for $2 and i don't remember the change, between the
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pharma deal and the hospital deal. in fact, what will happen cbo will have to score parts of these days -- >> what do you mean when the cbo will have to score parts of the deal? >> well, your earlier guest, linda douglass said the pharma deal and the bill would be written into the legislation, therefore, when the legislation is finalized, the cbo will look at it and make its asaysment as to how much it will cost. they may come up with a different number than the dealmakers. it will be interesting to see. it's not clear as to what people said, all of this will be in the legislation. there may be parts that are not included and not written, in which case the cbo wouldn't score it as counting toward a deficit neutrality in the totality of health care reform. we know the what the dealmakers say it will save, we don't know yet what the cbo says it will save. i should say, the hospital deal, i don't have any many details. the white house hasn't put out a fact sheet yet. but it sounds like some of the proposals are what president obama had proposed in his budget, to curb the sort of
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inflation adjustments in payments to hospitals in years going forward or the annual increases. and that would be a savings of sorts, but i think president obama was going for something more ambitious and the cbo scored his savings $300 billion. so, hear we're hearing from hospitals it's about $155 billion, so, it's less ambitious. >> got you. elizabeth, we were talking about it earlier, this pot of that's sent aside for hospitals to take care of people who are poor and uninsured, correct? >> correct. what happens with hospitals now, if you're uninsured, they still take care of you. they spend tens of billions of dollars of taking care of uninsured people. so, with health care reform, theoretically, what would happen, hospitals won't have uninsured people walking into their doors, they'll breathe a sigh of relief. obama said, you're breathing a sigh of relief, so give us something. all right, they said, we agree when you increase our payments for inflation, you don't have to increase them all that much. >> right. >> and jeanne or elizabeth, what's the trade-off?
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what are the hospitals getting out of this, the fact that they will just have theoretically more people who have an ability to pay their portion of their bills -- >> yes. >> -- and the government subsidy on that bill, right? >> i talked to a hospital lobbyist yesterday and he said that's exactly what they get. uninsured people are a nightmare for hospitals and to get out of it, they're willing to fork over some cash. >> and, jeanne, one last one to you. as you're watching and following this debate, are we any closer, get a reset here, as to knowing how we're going to ultimately pay for this? >> i don't think so. we heard this week that senator baucus, who is leading the health charge for the democrats in the senate, one of his biggest pay forwards has now been seen as maybe not so popular with the public and not so popular with the democrats and that's to tax part of workers' health benefits at work which currently it's what your employer pays for you to get as insurance, it's tax-free income to you and the proposal in general was to tax a portion of that benefit and that was seen as really a big pay-for.
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so, if they don't use it, and it's not clear it's not off the table entirely, they'll have to come up with something else. so, it's a little bit back to the drawing board potentially. >> to close the gap from $2 and change to $10. >> right. >> the $2 and change is the hospital and the pharma deal. >> we still need to close the gap. >> yes, absolutely. right. >> so we can have the salad with the croutons and maybe some dressing. >> and dessert. >> and dessert. jeanne, appreciate it. >> thank you. >> elizabeth, as always, thanks for your help. the tough economy is hitting fathers hard. we will hear from a group that is trying to cope. that's next. who can give you the financial advice you need? where will you find the stability and resources to keep you ahead of this rapidly evolving world? these are tough questions. that's why we brought together two of the most powerful names in the industry. introducing morgan stanley smith barney. here to rethink wealth management. here to answer... your questions. morgan stanley smith barney. a new wealth management firm
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with over 130 years of experience.
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all right. as always, we love to direct you to our terrific team at cnnmoney.com. you just heard from jeanne sahadi on health care reform. she is awesome. the team is awesome. poppy harlow is there as well, so whenever you want the latest financial news and analysis, just go to cnnmoney.com. we love that page. let's swing you over to the
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new york stock exchange now for a look at the big board. ew, three hours into the trading day, as you can see, we're in negative territory. the dow is down 55 points. and, oh, i forgot the nasdaq number. what's the nasdaq number? nasdaq, thanks, joe, nasdaq is down 17. we're following the numbers throughout the day, market checks throughout the day with susan lisovicz right here in the "cnn newsroom." 2,600 chrysler workers are back on the job today. the plant in northern illinois turns out the dodge caliber and the jeep patriot. it's been closed since may 1st, when chrysler filed for bankruptcy. now, the bad news. the plant will be online for just three days when all chrysler plants go down for two weeks. almost 1,000 of the workers are facing layoffs later this month. a new survey finds many dads are working harder than ever in this economy, and a few would give up their jobs even if they could. josh is here with more on this. yeah. you got to keep working, it's your responsibility. we got to take care of it.
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>> we're both dads, right? you think you could do it? you could be a full-time dad? you could pull it off? >> i need help. come on. i'd absolutely need help. but, yeah, i'd step up. >> you're about to meet a stay-at-home dad. we have a new survey from careerbuilder. it's job basics big time. the number of people who talk about how much work they're bringing home at least once a week, there you see, 31% down to 25% there. if you take a look at this other stat. take a look at this here. would you quit your job if your spouse could comfortably support the family? this is the one that is most striking. 200549% of guys say they would quit if their spouse could support the family. now it's down to 31%. a massive drop. careerbuilder is saying the reason, in this economy, guys more than ever are focusing on our roles as providers. >> absolutely. absolutely. >> that's foremost in your minds right now. so what we did, we talked to a bunch of guys about this, including a stay-at-home dad. >> my business was slow, a
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corporate recruiter, so it made sense to bring my kids home from day care and look after them full time. >> how is that going? >> it's fun. it's great stuff. >> did you ever wonder what it would be like if you were at homeworking and taking care of the kids? >> i don't think i could do it. >> my wife is going to kill me. >> it's tough. >> do you all ever have moments, though, when the situation where it exists, where you're a little bit jealous of the full-time parent? >> yes. yes. just the amount of time that she's able to spend with my daughters and the bond that they seem to have immediately when i come home and just you can see the difference in that. spu get a little jealous at times. >> and it's also you're told a lot about the first things that they've done, you know, just this morning when she dropped her off at school, she said something for the first time that she'd never said before and i missed out on it because i was at work. >> if a full-time job came along tomorrow, would you -- >> i would definitely want my
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job back or a job back. >> so the goal is to work full time again. >> yeah, the goal is to work full time again. >> what have you learned as a full-time dad that you didn't know before about full-time parenting? >> it's a grind. your day starts at 6:30 and ends at 9:00 or 10:00 at night. how much everybody depends on you, you know, every minute of the day, it's all about you. everybody wants something from you. so, you know, it's -- it takes a little getting used to. there's no quiet time. >> all right, do you know what i want to you know, full time working for someone else or running your own business or full-time parenting? >> full-time parenting is definitely more of a grind. >> all right. who wants to go next with the idea of how the economy may or may not have changed your life as a father? >> now-addadays there are plent out-of-work people without a job. when you are a family and you have three mouths depending on you, it's a lot of stress and pressure because you just don't know day to day in this economy. >> he's the only one here with teenage kids, is it easier to talk to them about this?
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is it easier because they are older to get them to kind of understand what the financial challenge is? >> you know, it is. >> or is it harder because they're aware of it? >> well, no, it's easier to talk to them about it, but obviously, i mean, now, being a teenager is much different than it was during any of our time. there's a lot of pressure that they have that we didn't necessarily have. so, you know, when i was growing up, i didn't have the pressure of needing to have the latest, greatest gadget. it's a bit of a challenge, but they are also understanding because things are so widely communicated now. >> have you talked to them about the economy? have you sat them down and said these are the challenges and how it's affecting us as a family? >> we've absolutely sat down and had those conversations. >> who else has done that? you've all done that? but you did with your children, including your young children? >> yeah, deacon definitely knows. we were at walmart the other day, and he looked at this toy, daddy, i really like that, but you don't have a job. i can't have it. >> it's a tough moment. >> it's a tough moment.
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it's something you have to face, and there are a lot of family facing it right now. you can see more on the blog, cnn.com/newsroom. there you go, we're talking about facebook and twitter and josh11scnn. the guys tackled every question we tossed at them. and it was really interesting to get their wisdom and perspective. in this economy, it's changing stuff for all of us. all of us. >> don't get me started. josh, appreciate it. thank you. >> thanks, tony. you just experienced a twice-in-a-lifetime number alignment. now, moments ago, the time was 12:34:56 in the eastern time zone. notice the numbers are sequential. now add in the date july 8th or numerically 7, 8, 9. july 8th of the 9th year of any century is the only time this happens. but, wait, hang on a second. i said this was a twice-in-a-lifetime event. it also happened earlier this
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morning just after midnight. let's go to chad myers. see if he's there. ♪ >> how long is your lifetime, tony? >> how long is my lifetime? >> you weren't born in 1991, were you? >> i'd like to claim it, but no. whoops, pinocchio, yeah. >> 12:54:56 7/8/90, 1990, that's even longer. >> nice! >> it happened in 1989 as well. 1:53:45, 6/7/89. and it will happen in again in 2089 and 2090. with the advent of good medicine, we may be around to see it a couple more times. >> what about the jackpot for the megaball thing? there are a lot of numbers there. >> someone won it. it wasn't me, because i already checked. >> nice. >> anyway, rain across parts of florida today. if you're playing the lottery, you will probably win something here, probably win some rain in atlanta all the way up to gainesville here, slowdowns in
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the airports as well. showers moving into oklahoma city, not a major airport, but you could see a slowdown and up into kansas city which is a pretty big hub out here in parts of the midwest, storms coming down from st. joe and rain showers into chicago. a couple of areas of severe weather today, one across parts of florida, the bigger and more severe one will be across parts of the dakotas. not as many people up here, tony, but certainly the threat of tornadoes, the threat of hail and wind damage across south georgia and parts of florida and even into alabama. tony? >> oh, someone won that. god, that was a nice, fat pot! >> 12.33 million. i would have shared it with a couple winners. >> hello, hello. all right, chad, have a great day. >> see you in an hour. president obama is meeting with g-8 leaders about the economy. we will get the latest.
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president obama and leaders of the world's biggest economies are in italy today at their annual g-8 summit. the meeting is la will la, a town devastated by an earthquake in april. you see here president obama and the other leaders a short time ago touring the area where nearly 300 people were killed in april.
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boy, 50,000 people were forced to flee their homes. and the region continues to suffer aftershocks, including one of magnitude 4.1 just last week. pictures from just a short time ago of the g-8 leaders touring that defend stavastated area, dd region in italy. on his way to the g-8 summit, president obama stopped in russia, our foreign affairs correspondent, jill dougherty, reports on the president's highly anticipated encounter with russia's prime minister. >> reporter: even president barack obama stumbled over it. >> when i speak with president -- prime minister putin tomorrow, he will say the same thing. >> reporter: but there's no confusion here in russia about former president, now prime minister, vladimir putin's political power and influence. >> translator: i'm very glad to meet you here. >> reporter: friendly words at their first face-to-face meeting, breakfast at mr.
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putin's residence, but the body language told another tale. check out the nonexistent eye contact. >> yeah, i also want to thank the prime minister for having very nice weather in moscow. >> reporter: the men went toe to toe even before president obama trotted off to moscow. >> i think putin has one foot in the old ways of doing business and one foot in the new. >> translator: we're firmly standing on both our legs and always look into the future. >> reporter: but when a reporter asked mr. obama who's really in charge here in russia, the president didn't miss a beat. >> my understanding is that president medvedev is the president. prime minister is the prime minister. and they allocate power in accordance with russia's form of government, in the same way that we allocate power in the united states. >> reporter: after their
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breakfast, i asked mr. putin how his first encounter with mr. obama went. >> translator: we have many points we agree on. >> reporter: cnn's ed henry asked mr. obama what he thought about mr. putin. >> i found him to be tough, smart, very unsentimental. >> reporter: president obama and prime minister putin may not be walking in lockstep, but at least they're not tripping each other up. jill dougherty, cnn, moscow. we want to get to our paula newton, she's on the phone with us from the site of the g-8 summit. and, paula, a lot of concerns about the global economy and whether the global stimulus packages enacted by a number of these countries and the leaders of these countries, whether those plans are actually working. i'm imagining that is at the top of the agenda for this meeting. >> it is, absolutely. and one thing that's going to interest everyone back home is the alarm sounded by prime
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minister gordon brown from britain and others saying, look, we need a second stimulus here. you know, if you'll recall, tony, getting any kind of agreement on the first stimulus was a bit rough, especially when it came to countries like france and germany. the argument from the united states and britain and others, who said, look, if we don't have coordinated effort on stimulus, it will not have the impact that it needs to have. some saying right now, that, look, that's why stimulus didn't work in the first place. now, i think it's way too early to come up with the assessments, but some analysts are saying it needed to be bigger. the obama administration is saying, look, we're taking a look at it, and that's one of the thins they're looking at here. >> paula, very quickly, has there been any reaction from the world leaders, president obama and others, to the tour of that devastated city? any reaction to the tour? >> yes. i mean, really heartfelt. you're looking at these buildings -- >> yes.
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>> -- and the leaders are realizing these are buildings that stood for centuries and some completely destroyed by the earthquake. it doesn't matter where you, it's hard to miss. >> our paula newton for us, paula, appreciate it. thank you. we asked for your favorite moment from yesterday's michael jackson memorial and you've spoken.
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you know, the winds certainly have changed for oil man, turned renewable energy advocate t. boone pickens, his plans for building the world's largest wind farm are blowing a lot colder these days. cnnmoney.com's poppy harlow has our today's energy fix. >> sometimes you need money to fund something and it's hard to tap that money. that's exactly what's going on with t. boone pickens, not
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canceling, but slowing his plans for a huge wind farm in the texas panhandle. could have powered 1.3 million homes, it could have, but it's on hold right now, basically because the transmission lines to get that electricity, get that energy from the panhandle to the rest of the country, they're expensive. he wanted to build them, and he can't get the credit to do it right now. also what we're seeing a decline in energy prices, that has diminished some of the urgency for other companies trying to get into this sector as well. think about it when t. boone announced the pickens plan, tony, about a year ago, oil was over $130 a barrel. now it's less than half of that. so, let's be clear. the project's not going away. he's already ordered 667 of those giant turbines you see right there from general electric for $2 billion. he just now looking at other locations for them. i spoke with his team today. they said maybe oklahoma. maybe kansas, maybe canada. so, not moving fast on this project. >> right. >> in texas, but his goal still
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remains, tony. >> well, poppy, forgive me here, couldn't t. boone pickens just tap, into, what, the billions of dollars earmarked for renewable energy from the stimulus bill? >> it's a great question, tony. we asked him that, because t. boone seems like the perfect candidate for money from the government stimulus plan. >> yeah. >> here's the problem, the programs, most of them, and the guidelines for that funding, haven't been defined, haven't been outlined, so the money is slow moving to the project. there's a tax specialist that we spoke with today who said two key provisions that would help t. boone have not been implemented. one is a 30% cash incentive for big renewable energy products, the others are federal loan guarantees for big projects like this that take a number of years. so t. poon's team said he would have benefitted from that and he would have down the road. and our ali velshi will talk to him at 2:00, in the 2:00 hour on cnn. >> poppy, appreciate it. >> sure. earlier in the show we asked you to vote for your favorite
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moment from yesterday's michael jackson memorial service. we gave you four choices. let's go to those choices now. jackson's daughter paris, brooke shields, jermaine jackson or marlin jackson. and here's the one you picked -- >> i just wanted to say ever since i was born daddy has been the best father you could ever imagine. >> are you okay? >> and i just wanted to say i love him. very much. >> okay. you can check the numbers for yourself at our blog cnn.com/tony. recognizes the role slate has played in the building of our nation's capital, yesterday the house passed a bill to require a marker to be placed
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inside the visitor's center. the marker would use some of the original stone quarried by those slaves. the senate is considering a similar measure. historians have discovered that slaves worked 12 hours a day, 6 days a week on the xonstruction of the capitol. while our reporters cover the stories developing every day in the black community, soledad o'brien has been working on stories you will see only on july 22nd, and 23rd, when cnn presents "black in america 2," two nights, two prime-time documentaries, all-new stories right here on cnn. look, if you need something on your way to the taj mahal, why can't you just stop at walmart? with little responsibility, zero accountability. our parents telling us what to do... how to behave.
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now, all of a sudden, we're there, in that role, at that time in our lives where everyone and everything is depending on us. it's a scary feeling, but it's also a good one. especially when i'm confident someone's there for me. mr. evans? this is janice from onstar. i have received an automatic signal
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you've been in a front-end crash. do you need help? yeah. i'll contact emergency services and stay with you. you okay? yeah. onstar. standard for one year on 14 chevy models.
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retail giant, walmart, now open for business in india. cnn's sara sidner takes us to the new store. >> reporter: here in the holy city of the golden temple, an american retail giant is hoping to strike gold. walmart has finally made its way to india, in a joint venture with one of the country's best known companies. >> we understand the consumer. we understand the human psyche. they bring the science and the art of the retailing. i think it's a good mix to understand what the indian consumer needs. >> reporter: but not everyone can shop here. this is a wholesale store aptly named best price wholesale store. only hotels or institutions are allowed in.
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india's strict business rules forbid foreign countries from direct retail, fearing that multinational corporations will wipe out the little guy. big box stores are almost nonexistent in india. 90% of the buying and selling happens in mom-and-pop shops. you want luggage, you buy it here. you want dried snacks, you have to go somewhere else. you want vegetables, you go to yet another place. for some people, it means visiting up to 25 different places every day just to stock the shelves, until now. >> the whole free is a blessing, because everything you talk about, stationstationstationery your fish, everything under one store. >> reporter: and it also appears to this man, who owns a shop in a nearby village. "i travel 40 kilometers and i buy a lot of stuff and get good quality. i visit this place four to five times a week." not everyone is excited about the new shop

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