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Reversing Stem Cell Policy; Building a Better Resume; Up Side of Down Economy; Miami's Housing Troubles; Tax Scam Season is Here; Getting More for Less on Vacation
Aired March 07, 2009 - 10:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
BETTY NGUYEN, CNN ANCHOR: It is a topic that comes with plenty of debate -- stem-cell research. In a controversial move, the president is set to sign an executive order reversing a policy that limits federal spending on embryonic stem-cell research.
We're going to take you straight to the White House.
T.J. HOLMES, CNN ANCHOR: Also, you've been asking for help, you need some help. We're going to try to help you looking for a job today. We have a Career Builder expert on hand. Been helping a lot of folks. We've linked them up live on the air. And you can ask your questions directly to them here on our air.
We have been getting your resumes at weekends@cnn.com. We will be calling some more of you this morning, and our experts will be handing out that free advice. And nothing's free these days, but we're giving you some free advice.
Welcome, everybody, to the CNN NEWSROOM. Hello to you all.
I'm T.J. Holmes.
NGUYEN: Yes, good morning, everybody. Thanks for joining us.
I'm Betty Nguyen.
All right. First up, many believe that embryonic stem cells hold the key to medical breakthroughs. Administration sources say that on Monday, President Obama will restore funding to them, at least to test them. That reverses limits set by President Bush, who objected over right-to-life concerns.
Chief Medical Correspondent Dr. Sanjay Gupta tells CNN's Campbell Brown why this is such a hot-button issue.
(BEGIN VIDEO CLIP)
CAMPBELL BROWN, CNN ANCHOR: Let's walk people through this. There are different types of stem cells. Explain to people what's so controversial about what the president is going to announce on Monday.
DR. SANJAY GUPTA, CNN CHIEF MEDICAL CORRESPONDENT: Well, you know, when you talk about embryonic stem cells, the thing that is so controversial is, in order to get these cells, you have to destroy embryos. That's a simple way that you can put it, and that has led to controversy that has extended many, many years. But your point is a good one.
When you say stem cell, sort of an umbrella term, you are referring to several different types of cells. Adult stem cells are not controversial. You take those from adults. You can take them from their bone marrow, their liver, their blood.
There's always something known as iPS, induced pluripotent cells. You don't need to remember the name, but remember this, you can take normal skin cells and expose them to certain viruses that almost make those cells revert backwards into embryonic stem cells. Those are also not controversial.
But this idea of creating federal funding for embryonic stem-cell research is something people have been talking about for some time, or hearing, like you are, there's going to be a reversal of the existing policies on that very issue on Monday.
(END VIDEO CLIP)
NGUYEN: Elaine Quijano joins us now live from the White House.
All right, Elaine. Why are stem cells a priority right now when we have so many economic problems at hand?
ELAINE QUIJANO, CNN WHITE HOUSE CORRESPONDENT: You know, it's a good question, Betty. We'll wait to see what President Obama himself says on Monday, but certainly this decision does not come as a surprise, based on what Barack Obama himself said on the campaign trail.
But why an executive order? Why not legislation?
White House officials say that they wanted to move ahead with an executive order as sort of a short-term step. They still very much want to see down the road Congress handle this in a legislative fashion. They just don't know how long that might take.
And so in the interim, they have got this executive order. The hope is though that Congress can, in addition to this executive order, tackle this issue, make it the law of the land to have federal research money going towards embryonic stem-cell research. The idea there being, Betty, that it would be much more difficult for a future president to undo that legislation -- Betty.
NGUYEN: Something also that's difficult, health care. President Obama pushing a plan. What's he saying about it today?
QUIJANO: Yes, it's interesting. This is something that we heard President Obama talk about this past week, his view that the health care system is broken. He says look, in order to get this country back on solid financial footing, these soaring health care costs must be tackled.
Here's what President Obama had to say today.
(BEGIN VIDEO CLIP) BARACK H. OBAMA, PRESIDENT OF THE UNITED STATES: Because we cannot bring our deficit down or grow our economy without tackling the skyrocketing cost of health care, I held a health care summit on Thursday to begin the long overdue process of reform. Our ideas and opinions about how to achieve this reform will vary, but our goal must be the same: quality, affordable health care for every American that no longer overwhelms the budgets of families, businesses and our government.
(END VIDEO CLIP)
QUIJANO: So the bottom line here, Betty, is President Obama believes some tough decisions are going to have to be made, including in the area of health care, in order to get the country's fiscal house back in order -- Betty.
NGUYEN: OK. With that, though, what's the GOP response to it?
QUIJANO: You know, they are warning that, look, if what the government is looking at here is potentially bigger government, that that would be a mistake.
Here's Republican Congressman Roy Blunt.
(BEGIN VIDEO CLIP)
REP. ROY BLUNT (R), MISSOURI: Some people are spending a lot of time talking about how to spend more of your money on bigger government-run programs. I'm concerned that if the government steps in, it will eventually push out a private health care plan that millions of Americans enjoy today.
This could cause your employer to simply stop offering coverage, hoping the government would pick up the slack. Just imagine a health care system that looks like a government-run operation most of us are all too familiar with -- the local DMV -- lines, paperwork, taking a number.
(END VIDEO CLIP)
QUIJANO: So Republicans obviously trying to shake the debate as well. We should mention Congressman Blunt was actually here at the White House on Thursday for that health care summit.
So a lot of ideas being floated out there, Betty, about how best to tackle this issue. But the fact is, people do agree this problem of health care cost is something that is going to have to be dealt with. It's a question of how -- Betty.
NGUYEN: And that is a big question, indeed.
All right. Elaine Quijano, joining us live.
Thank you, Elaine.
Again, President Obama will sign that order to restore stem-cell research funding on Monday.
Now, on Tuesday, he speaks at an event for the Hispanic business community. He's going to talk about the need to overhaul our education system.
And then on Thursday, the president welcomes state officials to the White House. He's going to talk about what each state needs from the economic recovery package.
But this morning, a lot of you at home asking this: Where are the jobs?
HOLMES: Yes, that's the first question. The next question after that is what?
NGUYEN: How can I get one?
HOLMES: Yes. So we're talking this morning with Rosemary Haefner. She's the vice president of human resources with CareerBuilder.com.
Good morning to you again.
And we've appreciated all the tips. We're getting some good feedback about what people have been seeing, so thank you.
We have been hooking her up with folks out there with their resumes they've been sending to us at weekends@cnn.com.
And we have someone else on the line here. Her name is Sharon Brown. She's from Winter Park, Florida.
Sharon, good morning to you.
I will once again hand it over to you and let you ask your question directly to Rosemary. Go right ahead.
SHARON BROWN, JOB SEEKER: Yes, good morning, Rosemary.
ROSEMARY HAEFNER, V.P., HUMAN RESOURCES, CAREERBUILDER.COM: Good morning.
BROWN: Well, I was just wondering -- I have been looking for a position now for about six months. And I have been -- I have a little bit of a break. I have a short assignment via a recruiting agency, but after that, it ends very shortly. There is nothing out there.
So I have 20 years of training and development experience. You know, I speak foreign languages. I used to live abroad, came back, and I'm highly skilled in substandard software tools.
So I'm wondering, what is it that one needs to do with all that experience in order to catch people's attention?
HAEFNER: Well, I think there are a couple of things if we look specifically at your resume that I would recommend that you consider. So you're using what we would call a text block format for your resume, and so there's basically a paragraph format to it. And I would ask you to look at considering bullet points and ways for you to highlight some of those keywords that your potential employers, whether that be full time or for contract assignments, that it's easier for them to find some of your qualifications. So I would look at that.
And to your point, yes, it's definitely a tough market, but you have some amazing background. You've done a lot of training and development, a lot of instructional design for education courses. And so that's going to be something that companies, I would imagine, are going to want to pick up on a freelance basis.
And on your resume, you do an interesting thing. You're highlighting your previous full-time employment, as well as your freelance or your contract assignments. But you're more or less toggling between those.
So I'd recommend that you look at either grouping those together, all of your freelance assignments, and then separating out your full- time employment, or just keeping two different versions of your portfolio, so that's easier for you to take advantage of those contract assignments when they come, people know that you're open to that. It was a bit confusing as I read the resume, because it was kind of jumping back and forth between the two.
BROWN: OK. Wonderful.
HOLMES: Sharon, how does that sound to you? Maybe brought up some things you hadn't thought about that resume before.
BROWN: Absolutely. I think that the separating it out because it has been, you know, largely consulting, as well as full time, and it was very difficult. And I think a lot of people nowadays are going to be doing that, because shorter assignments come up a little bit more frequently.
So I think that's a great idea. I think I'll take those tips.
HOLMES: Well, Sharon, we appreciate you sending that in, and hopefully that was helpful to you and other folks who are listening.
Thank you so much. And really, good luck to you.
Rosemary, you hang in there. We're not done with you just yet.
NGUYEN: Oh yes.
HOLMES: We've got a couple more this morning, but we really do appreciate it. And again, I know the people we've had on the phone with you appreciate being able to talk to you here live, but also a lot of people listening are getting a lot of tips out of it as well.
NGUYEN: It is very good information, so we're definitely going to be putting you to work today, Rosemary, because a lot of people out there needing a job.
And for those of you watching, if you are looking for a job, we've got a great tool on CNN.com. There's a map of all the 50 states with information on dates and times for the next job fair in your area.
Let's -- you know, just take a look at where our last viewer was, in Winter -- I believe it was Winter Park, Florida.
HOLMES: Yes.
NGUYEN: Well, the closest job fair would be in Orlando, Florida. And let me click on the map, and you can see on April 1st, there's a job fair there.
So no matter where you live in the U.S., there is little indications on our map of where the next job fair is. Now, there's some states, you know, like New Mexico, that we don't have anything, but for the most part, we have tried to find just about every opportunity out there for you to go out there and give your resume to job seekers -- or companies hiring, I should say.
And all of that is at CNN.com.
HOLMES: CNNMoney.com, I believe it is. I was just told -- a little voice in my head told me to -- or in my ear...
NGUYEN: Told our producer.
HOLMES: ... I should say. Yes, CNNMoney.com is where you can find that.
Another one here, Betty.
I guess we've all had friends before -- I guess you've had somebody that owes you money. You say, "You know what? Hey, I can't hit you back just yet," Betty. You're going to have to wait. I don't have the money right now.
NGUYEN: OK.
HOLMES: That's essentially what California has been saying...
NGUYEN: The whole state.
HOLMES: ... to the whole state, because California owes some tax refunds to some folks, and they don't have the money to pay them back, until now. And it's been going on for about a month now, but the state budget was held up for a little while because of arguments over it.
So nobody was getting their refund checks for about two months. A lot of folks who were depending on that money, well, it's on the way now.
(BEGIN VIDEO CLIP) ROSLAND TAYLOR, TAX REFUND RECIPIENT: Oh, great! I am so glad. I needed my money.
I've got some work to do around my house and everything. So, yes, it's a real big deal, it's a blessing. Oh, thank you, Jesus.
(END VIDEO CLIP)
HOLMES: Yes. "Thank you, Jesus" she threw in there.
Well, what happened here was that, again, the budget was held up, and California has had -- is really billions and billions of dollars in deficits right now. And last month the governor finally signed a budget package. It's hopefully going to help them close a $42 billion deficit, but checks started going out again on Friday.
NGUYEN: Speaking of money, have you done your taxes just yet?
HOLMES: I had it done a while ago.
NGUYEN: You get that done early, don't you?
HOLMES: Yes. Refunds, I need them back.
NGUYEN: I'm still waiting, preparing to do mine.
HOLMES: What?
NGUYEN: But for those of you like me, who aren't done yet -- I mean, we have until April. Come on, we have a little time.
HOLMES: Until April? That's a month.
NGUYEN: Yes. Plenty of time to get it done.
So if you are looking for some help with those tax returns, preparing that, you want to beware, because this is high season for scammers to steal your money and your good name.
HOLMES: Also, I know you like this story. You brought this to my attention and I thought it was ridiculous, but the picture of the day, a restaurant in a restroom. And the dinner comes in a bowl.
NGUYEN: A toilet bowl.
HOLMES: Delicious.
(COMMERCIAL BREAK)
HOLMES: I don't like this time of year.
NGUYEN: At all, because we have to get up so early, you know, around 3:00 in the morning, on the weekends, no less. So when we have Daylight Savings Time, we actually lose an hour of sleep.
HOLMES: We're losing it, and we will lose it in the morning. NGUYEN: I guess everybody does, but some people don't feel it as much as we do.
HOLMES: So tomorrow's show will start at 7:00. It will start an hour late, probably. No, we'll be here, and we'll be here on time.
Yes, Daylight Savings Time. You need to set the clock ahead an hour when you go to bed this evening.
So, we're springing forward, Reynolds.
REYNOLDS WOLF, CNN METEOROLOGIST: Well, I mean, you could say in terms of -- you know, I would say our watches, but in terms of advancement, I don't think it's happening at all. We're going to be just dying tomorrow. No question about it.
(WEATHER REPORT)
HOLMES: Well, the economic outlook, it's pretty dark, but you've got to stay positive, and some people are seeing the bright side of things. You'll meet a couple that learned how to cut back without cutting the fun.
NGUYEN: It looks like they're on vacation.
Then we're going to show you a Miami mansion that is going at bargain basement prices, and still no takers.
(COMMERCIAL BREAK)
NGUYEN: You know, heroes continue to walk among us, disguised as everyday people, in our "CNN Heroes" segment this weekend.
HOLMES: Yes. One man we're going to introduce you to, he's drawing on bitter experiences -- he suffered growing up near slums in the Philippines -- to fuel (ph) a relentless campaign which brings education to hundreds of children in poverty.
(BEGIN VIDEOTAPE)
ANNOUNCER: This is "CNN Heroes."
EFREN PENAFLORIDA JR., CHAMPIONING CHILDREN: Gang members are a group in the slums as early as 9 years old. They're all victims of poverty.
I am Efren Penaflorida, Jr.
In high school, gangs were very rampant. I felt the social discrimination, and I was then -- I was bullied. I got afraid, so we thought of a group to actually divert teenagers to be productive. So that's why we're bringing the classroom to the kids.
We operate the push cart every Saturday. We teach them language, mathematics. And we also have our hygiene clinic.
ON SCREEN: Since 1997, 10,000 teenagers have joined Efren's group and tutored 1,500 children.
RHANDOLF, AGE 16 (through translator): My gang mates were the most influential thing in my life. I would probably be in jail right now, or most likely a drug addict if I hadn't met Efren.
EFREN: I always say to my volunteers that you are the change that you dream, and collectively, we are the change that this world needs to be.
ANNOUNCER: Tell us about your hero, at CNN.com/Heroes.
(END VIDEOTAPE)
(COMMERCIAL BREAK)
HOLMES: Yes. Economic survivors, more and more of them are out there just trying to hold on and survive the tough times. Hundreds of thousands of more you could add to those ranks now.
As we have been reporting, the unemployment rate ballooned now to 8.1 percent. It was at 7.6, as many of you know, but this now is a new 25-year high. It's well up from the month we had before. Now, this means, in practical numbers here, real numbers, that about 12.5 million people now looking for work.
We have been talking to economic survivors here over the past couple of weekends. There are two right there. They have been surviving, and surviving fairly well.
Mandi there on the left, and her husband Jeff.
Now, you guys -- Jeff, you quit, you went back to school.
Amanda, I believe you were laid off. You're working somewhere now, but still, not maybe the type of salary that you were hoping to have long term.
But you all are surviving. And one thing you had to do, move in with the family.
Tell me how that's going and the decision that you made to go back and move in with the parents.
JEFFREY ROOT, IREPORTER: It wasn't all that bad, actually. My parents had actually offered it to us because they knew I wanted to go back to school, but they couldn't pay for my education growing up. And they thought that this was probably the best way to get me a little further ahead in life.
I came from a family that, we all worked fast food, we all worked at the same fast food restaurant. But I wanted to get out of the fast food industry and actually do what I wanted to do with my life.
HOLMES: And I know you're going to school, you're hoping to be an English teacher. You're going to work your way up to the ranks and be a college professor one of these days. And Mandi, let me ask you about just how tough it's been and the sacrifices, and maybe some of the tough choices you have had to make that maybe, you know, coming up, maybe you never thought you would never have to make in your life.
MANDI ROOT, RECENTLY LAID OFF: Well, I never thought that we would be moving in with his parents, that's for sure.
HOLMES: Yes, I didn't point that out, it's his parents, folks.
M. ROOT: Yes, it's his parents, but it's been really, really great. We have had to make some, you know, tough decisions about -- especially about going back to school. But I really did want him to go back to school, and that was like my main -- our main priority, I guess you would say.
HOLMES: Now, do you all feel like you're in a position where you're just trying to hang on and ride this thing out? You know better days are coming, and you are certainly trying to better yourselves in a lot of ways -- like I said, going back to school and doing things like that. But is that -- the mindset is we've just got to hang on for a little while?
M. ROOT: Yes, exactly.
J. ROOT: Yes, I was going to say, that's exactly what we're trying to do right now, is just hang on. We'll get through this. And like, I think the most important thing to do right now is stay close to your families, because if you don't and you're out on your own, and you have no one else to rely on, or you can also help your family members too.
HOLMES: That's a very good point you make right there, friends and family, stay close, because those are the people you lean on in tough times. But also, you all have found this whole experience a little enlightening, if you will. And you have found actually a lot of joy in what you have been able to do.
Like, one of the highlights there, you have been spending more time with family. But what have you also discovered during this time and this journey that maybe surprised you about how much you can still enjoy life without some of the things you think you need?
M. ROOT: Well, we discovered, like, cheap ways to have fun, I guess. This summer, we're going to be taking a trip out to California. We invited his brother (sic) and her husband to come with us. And we're just going to go camping.
Instead of having hotels and everything, we're just going to go camp the whole time. And it's going to cost us way less.
HOLMES: Oh yes.
M. ROOT: You know, we'll split all the costs of the camping sites and everything. That's something cheap that's really fun.
HOLMES: Well, you guys are making it, and we are pulling for you. And I guess we're all pulling for each other in these times.
And look at those two faces, folks, happy folks there who are surviving, a couple of our economic survives.
Jeff and Mandi Root, guys, thank you so much for coming on and sharing your story with us.
Good luck to you in school there, Jeff. And really, we hope to catch up with you again, and maybe on graduation day.
J. ROOT: Cool.
M. ROOT: All right. Thank you.
HOLMES: You guys take care.
J. ROOT: Thank you.
HOLMES: Well, our CNN iReporters, they have been sending us their economic survival stories as well, some touching, some enlightening. All can be found at CNN.com/ireport. You can go there, send us your story as well.
NGUYEN: All right. So if you're out there and you're looking for a job, you're really wondering, does your resume stand out against the sometimes thousands of others competing for that same job? Well, you know, there are some tricks to get a headhunter to remember you.
HOLMES: Also, are there any tricks to selling houses in a recession? We're going to head down to Miami. Betty spent some time down there. A huge house just sitting, and keeps sitting, and keeps silting, no matter how much the price is dropping.
NGUYEN: Also, dinner is served, folks, in the toilet.
HOLMES: Oh, delicious.
NGUYEN: Bon appetit.
(COMMERCIAL BREAK)
NGUYEN: Well, good morning, everybody, and welcome to the CNN NEWSROOM.
I'm Betty Nguyen.
HOLMES: And hello. I'm T.J. Holmes.
Some of the top stories we're following this morning...
President Obama expected to end some restrictions on federal funding of human embryonic stem-cell research. Scientists, of course, say it could lead to breakthrough treatments for many diseases, but some argue that embryos are destroyed to get the stem cells.
NGUYEN: President Obama says America will get through this economic crisis if we act boldly and swiftly. In his weekly radio address, Mr. Obama said his administration already is implementing the $787 billion Economic Recovery and Reinvestment Act.
HOLMES: All right. A lot of people out there on the job hunt, so how can you stand out in this environment?
NGUYEN: Well, we do have some help for you this morning on just that.
Joining us again is Rosemary Haefner, vice president of human resources with CareerBuilder.com.
Rosemary, we've gotten some really good resumes, and some just as important questions out there about, how do you taylor that for the job? So, got another person looking for a job for you.
Lisa Westerbeck, she's from Colorado Springs, and she holds a Masters in public administration. So a lot of education background.
HOLMES: Yes.
NGUYEN: So ask -- if you can, Lisa, just go ahead straight and ask Rosemary the questions that you have when it comes to your resume and trying to find a job out there.
LISA WESTERBECK, JOB SEEKER: Well, my question mainly is, how can I reach out to employers? I have been doing a lot of technical things like geographic information systems or mapping software, but I would prefer to work with people. And I'm trying to figure out how to put out a technical resume and just a regular basic resume to reach out. So that's my question, is how do I reach out to these employers?
HAEFNER: Yes, it's a great question, Lisa. I mean, without a doubt, you have a very impressive background.
So one thing that you're doing with your resume is you're trying a little bit more of a creative format. It's a little less traditional than a lot of the resumes that are out there right now. And so if you have an online resume, sometimes that formatting may really keep your resume from coming up in a search. So you need to be careful of that.
But if we're talking about a hard-copy resume that the recruiter has, absolutely, your format is going to help your resume stand out. But I would caution you to think about whether it might be causing some confusion.
So, on your resume, you have a side menu bar, kind of a sidebar that's shaded. And what you typically find with a recruiter is they're going to be working from the top of your resume down. And they're going to look quickly by section, what your name is, what experience you have, what education you have.
The formatting that you have is actually forcing them to read side to side. So, great experience, great education, you really have a lot of great skills you want to get across to them, but I think a lot of that is being lost just by the format. You're losing a lot of their attention.
The other thing I would recommend to really make sure they're honing in on the technical skills and your ability to interact with people, try and shrink it, because you've got it spread over three pages. They're never going to get past the second page to the third page, so really look at ways that you combine and condense.
HOLMES: Wow.
Well, Lisa, I hope some of that was helpful, but I have a question now. I mean, how much of it -- content, you need some experience and whatnot. But also, just as far as the resume's appearance, do people try sometimes unsuccessfully to make it a little pretty, if you will, and make it aesthetically pleasing to the eye? Is that something they should be worried about doing?
HAEFNER: I think that a lot of people are trying ways to really stand out from the competition. And so that's a very good thing to be thinking about as you're putting the resume together. But if you get too creative, if you're too fancy with different fonts, and some things are italicized, some are in bold, especially when you're talking about an online format, that can really get in the way of a lot of those search abilities of those online systems.
So you've got to be very careful. And, you know, sometimes it's as practical as getting your own focus group, get your friends and family. If you have talked to a few recruiters, ask them for feedback. Whether you get an interview or not, they're happy to give feedback about what caught their eye. And so a lot of that fancy formatting, you're going to find they're going to say it kind of got in the way of us really understanding what you could bring to the table.
NGUYEN: Rosemary, I have a quick question for you. You say to downsize that resume, not so many pages. I have been told, you know, try to keep it to one page if you can. Is that possible if you have a lot of experience?
HAEFNER: It's so hard to get it to one page. So, for me, the sweet spot is usually about two pages.
You know, if you're a C level executive, it's more common that you would be on the third page. You know, if we're talking about Lisa's resume, one of the things she did is she said, here's some references I have for you.
You know, that's an understood part of the job search process, is that you're going to be able to give resumes (sic) at the right time, and they'll be credible references, rather, for you. So you don't need to put that it in your resume, and that really put her on the third page, which a lot of recruiters would look at say, it's just too much, it's almost a negative reaction without your intending it to be.
HOLMES: Wow. Well, all right. Rosemary, thank you so much.
Lisa, I hope that was helpful to you, but thank you for sending that into us, and hopefully you'll find that job soon. Thank you so much.
NGUYEN: Good luck to you out there, Lisa.
OK. So if you want to know where the next job fair is in your area, check out CNN.com. There's a map of all 50 states with information on dates and times for the next job fair in your area.
Let's just take a look at Lisa. She was in Colorado Springs. Well, what we have here, we go to Colorado, and the only thing we have got going right now is in Denver.
But if you click on that, Lisa, you can see that there's a job fair on April 23rd. So this provides some really good information to those of you in all the 50 states looking for jobs.
You want to know where the job fair is, where people are hiring? This is a great resource for you. Again, at CNN.com.
All right. Talking about money, imagine buying a home today for what it would have cost you six years ago. Sounds like a bargain, right? Except when you're the one trying to sell.
I traveled to Miami to see how the mortgage meltdown is affecting what used to be one of the hottest real estate markets in the nation.
(BEGIN VIDEOTAPE)
NGUYEN (voice-over): Living in a multimillion-dollar neighborhood has never been so depressing.
It's very hard for us, and especially for my children.
NGUYEN: That's because Gray Thomas (ph) is trying to sell this house so the family can join her husband in Utah. He took a job there. That was a year and a half ago. Still, no buyer. It's a far cry from what they planned when purchasing this property for $292,000 in 1992.
(on camera): What used to be here?
UNIDENTIFIED FEMALE: Nothing.
NGUYEN: So this was part of the exterior of the home, the yard?
UNIDENTIFIED FEMALE: The yard. We took part of the yard and we built a formal living room.
NGUYEN: Formal living room. So you have added square footage to the home.
UNIDENTIFIED FEMALE: Yes.
NGUYEN (voice-over): And lots of it, almost 1,000 square feet, not to mention the upgraded kitchen. Still, no buyers, even after dropping the price $400,000.
(on camera): So you went from, what, $1,550,000...
UNIDENTIFIED FEMALE: A million -- to $1,149,000.
NGUYEN (voice-over): It's not just older homes that have dropped significantly in price. Experts say you can buy a new place for what it would have cost in 2003.
RONALD A. SHUFFIELD, REALTOR ASSOCIATION OF GREATER MIAMI: So in this particular unit they were in, we sold this unit at one time for about $100,000 more than we're currently selling for.
NGUYEN (on camera): Why is it this area, the Miami-Dade, the Miami/south Florida area, that's been hit so hard by this?
SHUFFIELD: Well, it's simply the supply that we built. You know, we were building condominiums here as fast as we could put them up because the demand was there. We had too many investors in the market.
NGUYEN (voice-over): Many of those investors bought multiple condos, hoping to sell them at a profit. Now they need to unload in the middle of this mortgage meltdown.
President Obama's stimulus plan promises to help both individual homebuyers and sellers, something Miami's mayor is counting on.
MAYOR MANNY DIAZ, MIAMI: And developers tell us all the time that they have buyers. But the problem right now, to a very large extent, is being able to access the market, the financial markets. They just can't get their sales finalized. Or if they can, it's related to just the amounts of deposits that they have to put down.
NGUYEN (voice-over): It's a downward spiral that continues to plague housing markets across the country.
In January, new home sales were down 48 percent nationwide, compared to a year ago. That's the biggest decline since the government began keeping track in 1963.
(on camera): There's also a trickle-down effect of people like you who are in the business to sell. I mean, how difficult has it been for you in these current times?
SHUFFIELD: Well, about 25 percent of our industry has gone on to other occupations. So...
NGUYEN: Gotten out of the business completely?
SHUFFIELD: Gotten out of the business completely.
NGUYEN (voice-over): So, will this stimulus plan bring all sectors of the housing market back? Looking at its price tag, that's a $75 billion question that has yet to be answered.
(END VIDEOTAPE) NGUYEN: And to give you the scope, that real estate person that we spoke with right there, the expert in the market, said that they have two years worth of inventory when it comes to condominiums in the area. Usually, they only have a year or maybe six months. That's normal, but they have two years, so they have twice as much, and it's going to take perhaps twice as long to get back to normal.
HOLMES: Some people are taking advantage, and deals to be had. But still, it's a tough time out there for everybody...
NGUYEN: For everybody.
HOLMES: ... trying to get rid of a house right now.
All right. Thank you, Betty, with that, a trip to Miami. You got a lot out of there.
NGUYEN: We did. We worked it.
HOLMES: Yes.
All right. If you're out there spending this weekend sorting through your files, maybe adding up some numbers, getting ready for your taxes, possibly, Betty...
NGUYEN: I am. I've got to get that done.
HOLMES: Well, we've got an expert coming up.
NGUYEN: Oh good.
HOLMES: Some expert advice, I should say, that could save you some money, and maybe a bit of that aggravation as well.
NGUYEN: I am looking forward to that.
And how about spending your refund checks on an exotic meal served in a bathroom?
HOLMES: That's not exotic.
NGUYEN: Yikes.
HOLMES: What is that on the right?
(LAUGHTER)
NGUYEN: There's a urinal on the left. Did you see that? I think it's a cup of some sort.
HOLMES: Oh my goodness.
NGUYEN: We have a seat for you, and we'll explain it all.
(COMMERCIAL BREAK)
HOLMES: All right. Some new video we are just getting in here.
The president is going to move here in just a second with his lovely wife Michelle. They are not stationary this morning. They do walk. But this is video -- they walk slowly, but this is video we just got in.
NGUYEN: There you go.
HOLMES: Whoa, he's got it now, doesn't he?
All right. The president and the first lady, a short time ago, making their way to Camp David. This happened just about 15 minutes or so today, but a shot we're used to seeing of the president oftentimes, of presidents past, I should say, hopping on to Marine One for the weekend.
Not sure where Sasha and Malia are right now. Maybe they're meeting them there, maybe they're staying home. But the president -- yes, I'm just told now that the kids are meeting them at Camp David as well. Just traveling separately.
So the president heading to Camp David, and the work continues later.
NGUYEN: Well, you know, with all the financial fears that we have to cope with these days, you don't want to add tax scams to that list. So before you start working on your returns, we want to take a look at the top scams that could cheat you out of thousands of dollars.
Ron Burley is author of "Unscrewed: The Consumer's Guide to Getting What You Paid For."
Boy, that's a title.
Good morning, Ron.
RON BURLEY, AUTHOR, "UNSCREWED": Good morning, Betty.
NGUYEN: All right. Let's get right to it.
When it comes to tax scams, do they increase during a recession?
BURLEY: Absolutely, really for two reasons, because like everyone else, the crooks are on hard times, and people become a little more desperate. And this is what really makes this dark, is because people are more vulnerable and more likely to fall victim to these type of scams when we are in hard economic times.
NGUYEN: You know, but sometimes they don't sound like a scam, especially -- OK, take for example -- we hear these all these time -- come and get a quick refund. Just come to us, let us do your taxes, you'll get that refund right away.
Is that a scam or is that a pretty good deal? BURLEY: Well, these fall into two categories. There's outright crimes and then scams. And the big scam here, as far as getting the quick refund, is that if you e-filed, you're going to get your refund, typically in less than a week. But when they charge you for the refund, sometimes these fees are as high as 40 percent, which you take that on an annualized basis, is 5,000, 6,000 percent interest.
So if you're going to get a few hundred dollars back -- and a lot of people, that's a lot of money right now. That can make the difference between having food on the table. But I urge you not to jump at something that's going to charge you $100 to get $400 back a week early.
To help with this, a lot of small banks and savings and loans now are actually looking at your tax returns, and they'll give you a short-term loan if you really need that money, more quickly than you'll get it back from the IRS.
NGUYEN: And that's better than to just giving them the money and the quick refund.
BURLEY: Right. If you go to a quick refund operation, it's very often like going to a payday loan place, where you're going to pay through the nose for getting your money just a little bit quicker than you normally would.
NGUYEN: All right.
Let me ask you this, too, because there's a lot of people out there who take advantage of, like you say, e-filing, especially if you're doing the EZ form. But people still go and pay to get those taxes done. I mean, it's almost free if you use some of the computer programs, right?
BURLEY: Well, absolutely. And you know, the big thing here is, if you've gotten behind in your taxes, there are companies out there that promise to help you out, but they're the equivalent in the tax business of the credit help people that really can't do much more than you.
If you have fallen behind in your taxes -- some of these people advertise nationally. They'll charge you thousands of dollars to get between you and the IRS, but really, they might not be able to help you out.
I just did an article on a couple of folks for my column in "AARP" magazine that paid almost $5,000 to one of these tax firms to help them out with the IRS. Well, they didn't get much help. Within two months, they had a lean on their house and their social security checks had been garnished.
NGUYEN: And you know, it sounds so good when you see the commercials on television about it.
There's something out there also called phishing when it comes to these tax returns. What's going on with that? BURLEY: Well, this is particularly predatory in that people are looking for those refunds, and they get a phone call or an e-mail from the IRS or somebody saying they're from the IRS, just needing to confirm their information. The IRS will never call you.
What these people are, they're looking for your personal identification, your Social Security number, and very often your checking account number, so that, of course, they can deposit the money directly to your account. What's really going to happen if they get your Social Security number and checking account number, they're going to take the money out of your account before you know it.
NGUYEN: OK. Very quickly, if you fall victim to one of these scams, what kind of recourse do you have?
BURLEY: Well, the first thing you need to do is call you bank, call your credit card companies. You know, get everything canceled.
If you ever think that your identity has been stolen, cancel those cards and checking accounts immediately. It's a big problem, but it's going to at least keep your money in your hands.
If you think you've been scammed by a company that isn't going to represent you well to the IRS, go to what's called an enrolled agent, a local enrolled agent. Do not do something long distance. A local enrolled agent, they're a special agent that is trained to deal with the IRS, they can help you out really rather than just trying to take advantage of you and get your money.
NGUYEN: All right. Ron Burley, very good information this morning. Thank you so much for that.
And we do want to remind our viewers that if you are a victim of tax scams, you should also contact the IRS directly to report phishing attempts, e-mail scams and bogus IRS Web sites. That's at phishing@irs.gov. You see the address on the screen.
HOLMES: Well, the dollar is making a bit of a comeback against some other currencies, opening up new travel destinations and redefining old ones.
Richelle Carey explains how you can be "On the Go" on a buck.
(BEGIN VIDEOTAPE)
RICHELLE CAREY, CNN CORRESPONDENT (voice-over): It's all about getting more for less right now. And that's why some Americans are vacationing in places like Southeast Asia.
GENEVIEVE SHAW BROWN, TRAVELOSICTY.COM: The American dollar has great buying power in Thailand, and it's a wonderful place to visit, because you can combine a city vacation in Bangkok with a beach destination just a short flight away.
CAREY: But if you prefer a more European experience, head north. BROWN: Iceland. The Icelandic economy has been in trouble recently, and our buying power has doubled in Iceland. It's only a four and a half hour flight from the East Coast, and a hotel that would have cost you, say, $200 a night a year ago, will now only cost you $100 a night.
CAREY: But remember, the economic crisis is global, and exchange rates are fluctuating. Experts say consider package deals and pay as much as you can up front to lock in rates.
(END VIDEOTAPE)
(COMMERCIAL BREAK)
NGUYEN: All right. As you can see from those statistics, there are a lot of folks out there searching for work right now. So with so many people on that job hunt, how can you stand out?
HOLMES: We have been trying to help you find ways to stand out by providing this lady, Rosemary Haefner. She's the one with the expertise. There she is, vice president of human resources with CareerBuilder.com. She has been helping people who have been sending in their resumes to us, looking at those resumes, and then we're linking them up live, right here on TV. We will do it once again.
LaShawnia Smith joins us now, primarily worked in customer service. She's from Columbus, Georgia, here in the state where we are.
LaShawnia, good morning to you. And you go right ahead and ask Rosemary directly a question you have about your resume.
LASHAWNIA SMITH, JOB SEEKER: Thank you.
I was just wondering, how can I stand out a little bit better with my resume being that there's so many people out here trying to find work just as I am. Is there any tips that you have for me?
HAEFNER: Absolutely. I've got some really quick and easy tips I want you to consider.
The first thing I see in your resume is that the top quarter of your page, you have your contact information spread out, and a couple of bits of the resume gets started. But that's really prime real estate. So you need more or less a headline.
You need a highlight. What is it that you are looking for, a specific job, a type of company? Put something there that's sort of a powerful statement about yourself, that's -- again, that's prime real estate.
The other thing that I would ask you to consider is, look for ways to really quantify your accomplishments. So you've got some great bullet points about what you have done in your previous roles, but I would love to see more numbers behind it. A couple of examples, you talk about the number of properties that you were overseeing, or accounts payable, you know, collections. Specifically, how much? How many units, the amount of collections you were doing, the number of people you have hired and trained?
So you have got some great skills that you're talking about. But a recruiter is going to want to see an actual number, something quantifiable, to get a sense of the scope of the role that you're going to be comfortable in.
So those are some quick hints I would give to you, and try to see if you can work that in on the resume.
NGUYEN: Well, that's some good information there.
LaShawnia, thanks so much for sending in your resume.
And Rosemary, you have been wonderful this morning, providing lots of very good, sound advice for people out there trying to set themselves apart when it comes to finding that job.
Thank you so much for your time.
HAEFNER: My pleasure.
HOLMES: And I wanted to hear LaShawnia just talk some more. She's got that great southern accent.
NGUYEN: That accent.
HOLMES: From Columbus, Georgia.
But thank you, everybody, for sending those in. And everybody, I hope you got some good help. We'll continue doing that over the next several weekends, hopefully.
NGUYEN: Yes. There's much more to come, y'all.
You like the southern accent?
Stay here. We do have much more to come.
(COMMERCIAL BREAK)
NGUYEN: So, looking forward to that breakfast, perhaps that brunch today?
HOLMES: Yes. I'm hungry.
NGUYEN: You may lose your appetite after this story.
Take a look at what they are doing to dine in -- I believe this is Hong Kong. It's the Modern Toilet Restaurant. They serve food in a little toilet, in fact.
HOLMES: Why? NGUYEN: Even better, T.J., you sit on toilets right there as you're eating that food.
HOLMES: What's the point? Are they just looking for their niche?
NGUYEN: Yes, it's a gimmick, I'm sure.
HOLMES: OK.
NGUYEN: You know, it's a way to get people in.
HOLMES: There are actually things on the menu called -- Betty, you tell them.
NGUYEN: No, I'm not going to say.
HOLMES: OK. Well, that just gives you an idea. The stuff is so nasty, we don't even want to tell you what the name of some of the stuff is on the menu.
So if you're in Hong Kong, by all means, bon appetit.
