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No Oil Leaking Into Gulf; Apple's Big Announcement; What Workers Earn in Japan

Aired July 16, 2010 - 11:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

TONY HARRIS, CNN ANCHOR: Good morning, everyone, live from Studio 7 at CNN world headquarters.

Oil is not gushing in the Gulf today, Friday, July 16th, but the fix is on. Will it hold? That's the question. BP chokes off its runaway well and does pressure tests.

Apple calls a news conference today to talk about the signal bug with its latest iPhone. Speculation on a fix ranges from a recall to a corrective rubber case.

And you will meet our CNN Hero of the Week, a woman who rescues stray and abandoned dogs from Houston's corridor of cruelty.

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: I'm doing what I want to be doing, and it's making me happy because it's given me a purpose in life.

(END VIDEO CLIP)

HARRIS: Good morning, everyone. I'm Tony Harris.

Those stories and your comments right here, right now in the CNN NEWSROOM.

And breaking news at the top of the hour. CNN has learned who West Virginia Governor Joe Manchin will choose to replace Senator Robert Byrd. It is Carte Goodwin. He is the former general counsel to Manchin. The announcement will be made in a news conference this afternoon in Charleston, West Virginia.

It is something we have been waiting almost three months to se e-- oil not flowing into the Gulf of Mexico. Day 88 of the disaster, and people who live in the Gulf region are cautious but hopeful.

That was also the tone from President Obama last hour. Here is how he responded to a question from our Senior White House Correspondent Ed Henry.

(BEGIN VIDEO CLIP)

ED HENRY, CNN SENIOR WHITE HOUSE CORRESPONDENT: Sir, do you think this means that basically we're turning the corner at least in the Gulf? Tell the American people what you anticipate in the next few weeks ahead, because they're still very anxious about this.

BARACK OBAMA, PRESIDENT OF THE UNITED STATES: Well, I think it's important that we don't get ahead of ourselves here. You know, one of the problems with having this camera down there is that when the oil stops gushing, everybody feels like we're done. And we're not.

The new cap is containing the oil right now, but scientists are doing a number of tests. What they want to make sure of is, is that by putting this cap on, the oil isn't seeping out elsewhere in ways that could be even more catastrophic. And that involves measuring pressures while this cap is on. The data is not all still in and it has to be interpreted by the scientists.

(END VIDEO CLIP)

HARRIS: OK. Let's bring in CNN's Ed Lavandera. He's live in New Orleans.

And I understand the desire not to get ahead of ourselves here, but I also want to know what happens next, Ed. So let's talk about what happens next without getting ahead of ourselves.

ED LAVANDERA, CNN CORRESPONDENT: Thanks for that, Tony. I really appreciate it.

Basically, where we stand right about now is they're in the midst of that integrity test. They're monitoring the pressure down there.

We heard a little while ago from BP officials who say that so far, no negative effects, to use their words, have been found on the seabed floor. So that is good news.

The fact that we're still seeing the dramatic images of no oil coming from the blowout preventer and the other machinery that is down there, that is also a good sign that we're, I think about, what, 14, 15, 16 hours into this integrity test already. So, the longer it goes, the better sign that is.

Now, to get back to your question about what happens next, a lot of this is still very much in the air. But we kind of knew of some basic ideas of possibilities going into this after having spoken with Thad Allen and other BP officials over the last couple of days.

And the scenario that appears to be the most lightly at this point -- and this is obviously with the caveat that things can quickly change here, and they can change footing -- but Thad Allen mentioned it a couple of times yesterday, so I thought it would be kind of worth mentioning it again. But the idea of reopening the four valves that are on the blowout preventer and the containment cap, and bringing in those riser pipes, and connecting it anew, and basically suctioning and funneling off the oil, kind of releasing it back out, and containing that oil in vessels on the surface of the Gulf of Mexico.

They say they have the capacity to collect 90,000 barrels a day. Significant, because so far the government flow rate estimate tops out at about 60,000 barrels a day. So, if all of those numbers work out accurately, they say they would have enough capacity to essentially capture all of the oil that would be flowing again.

So, that's what appears to be the most likely scenario. There's a couple of things that might happen. But that's the one that Thad Allen had talked about the most -- Tony.

HARRIS: Yes. OK. That's well done.

All right. Ed Lavandera for us in New Orleans.

Ed, appreciate it. Thank you.

Some other big stories we're keeping an eye on for you here in the CNN NEWSROOM.

(NEWSBREAK)

(COMMERCIAL BREAK)

HARRIS: So, the countdown is on to Apple's big announcement today. Less than two hours to go.

What will the company do about the trouble surrounding the latest iPhone?

Josh is here. He's following that.

And Josh, I have the last iteration, not this new one, with some of the problems that folks are reporting. So let's help our friends out who have the latest edition of the iPhone.

What do we want to know today?

JOSH LEVS, CNN CORRESPONDENT: Yes, well, in general, when you hear about iPhones, the one complaint a lot of people have always had is that they don't get the reception that they want. And what's happened in recent days is that the iPhone 4 has had a growing number of problems, even though Apple says it sold like crazy. In the first three days, they sold 1.7 million. So, clearly, people all over the iPhone 4.

But what has happened is that they're having these reception problems right now. And just a few days ago, Consumer Reports threw a wrench into this whole thing. They kind of changed the game for Apple because Consumer Reports is so respected, and they came out with this report saying they cannot recommend the iPhone 4 even though they love it. They love the features, they were praising it up and down, except for this central flaw, which I'll show you right here using an image we have up at CNN.com, CNNMoney.com.

And the antenna is built into the outside, snaked through this metal band on the outside. And analysts have figured out that if you have your finger over here, in this area, that it can cause interference, it can knock out your call.

Now, based on some reporting, there are questions about how long ago Apple officials even knew about this problem and what exactly what was done. So, a lot of people today are looking to see, what will Apple do?

There was some talk, would there be a recall? Well, you know what? No analyst that I'm hearing from are expecting that. There is one who talked to CNET who said it would cost $1.5 billion. And people love their iPhones, so there isn't much reason for them to do a recall.

But, you know, we've got some video here of cases. Cases are generally around $30 each, and you can use one of those cases, and you don't have that problem. So some people are saying maybe Apple will give them out for free, or maybe you can go to a store and somehow get that little space retrofitted.

We don't know exactly what to expect today. But, Tony, there's another really interesting phenomenon that's happening today as part of this, which is that Apple has had, in general, a pretty smooth ride with its sales. There are complaints out there, but they keep having a lot of successes and they keep getting a lot of good media coverage.

And today, throwing a news conference just a few days in advance, instead of one of their big staged events. Very unusual for them.

We had an expert this morning on "AMERICAN MORNING" talking about that.

(BEGIN VIDEO CLIP)

ERIC DEZENHALL, CRISIS MANAGEMENT EXPERT: Apple consistently violates every damage control cliche without any consequence. They're secretive, they lash out at consumers. They're entitled. Yet, at the same time, there's a reason why there's no consequence, is because when you are an insurgent, sort of a bad boy, that is a privilege that you have because people will love you no matter what you do.

But now Apple is no longer an insurgent. They are a trend- setting market leader. So the behavior of the past has to shift.

(END VIDEO CLIP)

LEVS: Very interesting to see what they're doing. I'll tell everyone. We're hearing from viewers as well. We've got a discussion going online here, so you can reach me.

We're talking about it at Facebook and Twitter. I'm at JoshLevsCNN, you can see right there.

So, Tony, this is a really unusual step for Apple, which is probably the biggest reason so many people, even like me, who don't even have an iPhone, are just so fascinated to see what they're going to be announcing.

HARRIS: Hey, can we get some of those comments up during the course of the hour, some of that conversation that's going on at your Twitter page and at your Facebook page? Can we do that?

LEVS: I'll go call the producers and tell them we're coming back with that.

HARRIS: Let's do that.

LEVS: All right.

HARRIS: All right, Josh. Appreciate it. See you a little later.

LEVS: You got it.

HARRIS: Eatocracy, it is a word you're going to hear a lot of on Fridays. What is it? It is all about food.

A new site at CNN.com dedicated to passionate conversations about food, where everyone has a place at the table. Today's topic is tipping. Some have the impression Europeans don't tip well in America.

We took it to the streets.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: In America, some people have a perception that Europeans aren't great tippers, that they don't leave big tips. Do you think this is true?

UNIDENTIFIED FEMALE: Yes, I think so.

UNIDENTIFIED FEMALE: To stay in New York is very expensive for us, the hotels and apartments. So, it can be true that we don't give big tips.

UNIDENTIFIED MALE: I've heard that there is a perception that Europeans have a different philosophy on tipping. Is this something that you encounter here?

UNIDENTIFIED MALE: I think they just are used to Europeans having the tip already built into the check. I do make sure they know at the end that service isn't included, but I also don't assume that they don't know, because a lot of people get offended if you just automatically add a gratuity.

UNIDENTIFIED FEMALE: If you come from a place where you've never given a tip, and you come to New York City, which is one of the most expensive places in the world, and get this huge bill and they say, oh, yes, you owe us another $20, too, I think I would be a little taken aback.

(END VIDEO CLIP)

HARRIS: Yes. Yes. OK. So, next hour, Eatocracy editor Kat Kinsman will join me live with what waiters and waitresses think about tipping.

(COMMERCIAL BREAK) HARRIS: Hong Kong lawmakers are expected to vote on a bill today that may give the Chinese city its first minimum wage. All week, we have been looking at the minimum wage around the world.

Here is a report on earnings in Japan.

(BEGIN VIDEOTAPE)

KYUNG LAH, CNN INTERNATIONAL CORRESPONDENT: I'm Kyung Lah in Tokyo, one of the world's most expensive cities.

So, the minimum wage here is a little bit higher than in developing nations. In the city of Tokyo, it is 791 yen per hour. That's equivalent to about $9 U.S. It is slightly lower in some of Japan's smaller cities.

So, what will this buy you? One of these, a bento box, or lunch, and a drink, not a lot, say labor groups, for an hour's worth of work. And Japan's new prime minister, Naoto Kan, agrees.

He wants to boost it to 1,000 yen per hour, or about $11.50 by the year 2020. The prime minister says it will help the working poor and slow deflation, but businesses say it will hurt their bottom line and stop them from hiring more workers.

Because this is Japan, the national debate on minimum wage has a jingle and a mascot. It's a cute song, but the message from this labor union is a serious one: "We can't survive on the current minimum wage, they're singing. "We hope the minimum wage will go up."

And in case you're wondering, the person in the center there wearing the red cape is Mr. Minimum Wage.

There may not be a decision on boosting Japan's minimum wage rate until next year.

(END VIDEOTAPE)

HARRIS: The BP oil disaster in the Gulf of Mexico is taking a toll on the mental health of those who live in the region. We will tell you what Louisiana is asking BP to do about it.

Do we have a moment to get the numbers, the Big Board?

We've got a pretty steep sell-off going on right now. We are down 163 points.

Is there a NASDAQ number available, guys?

So, a steep sell-off. OK, the NASDAQ is down 41. Thanks.

And this is all because of some results. Quarterly earnings being reported now.

We will get the real information behind this sell-off coming up in just a couple of minutes in business. Let's take a break.

You're in the CNN NEWSROOM.

(COMMERCIAL BREAK)

HARRIS: We want to put this on your radar very quickly here, because these can be particularly nasty.

We're getting word out of Hackensack, New Jersey, from the fire department, just paying attention to the calls from the dispatcher there, we've got a parking garage collapse.

Now, what I'm trying to discern here, is this connected to an apartment building? Because I'm seeing that information as well.

OK. So we've got a parking garage collapse. The parking garage associated with an apartment building.

We have no idea at this point how many levels on that parking garage, how many may have pancaked here, but we wanted to put that on your radar, because we're hearing that some people may be trapped in all of this. And as I said a moment ago, these collapses can be particularly nasty.

So we're going to keep an eye on this and do some real reporting on it. We'll get back to it in just a moment.

You're in the CNN NEWSROOM.

(COMMERCIAL BREAK)

(WEATHER REPORT)

HARRIS: There is a strip of land in Houston shedding light on the nationwide problem. It is called the Corridor of Cruelty, where abused animals are dumped and left to die.

This week's CNN Hero stumbled across this gruesome place and simply could not turn her back.

(BEGIN VIDEOTAPE)

DEBORAH HOFFMAN, CNN HERO: Right now I'm heading out to the Corridor of Cruelty. It's basically a dumping ground for live and dead animals.

The first time I ever went to the corridor, I realized there were strays everywhere, so many dogs that were starving, dogs with broken legs. And I prayed and I prayed that somehow I could be inspired to do something to help.

I'm Deborah Hoffman, and my calling in life is to save neglected, abused and abandoned animals.

This street is one of the major dumping grounds. We'll find dogs that we believed were used in dogfighting in large trash bags.

BELINDA SMITH, ASSISTANT DISTRICT ATTORNEY: Deborah Hoffman was a person who brought to our attention the fact that the Corridor of Cruelty even existed. This area seems to have more criminal activity associated with animal cruelty.

HOFFMAN: We think this one was used for dogfighting. He was pretty beat up when he came in.

SMITH: Deborah is saving the animals, and because of her there are some happy endings in this situation.

UNIDENTIFIED FEMALE: Lotto (ph) brings a lot of joy in my life.

UNIDENTIFIED FEMALE: He's a good boy.

HOFFMAN: It's truly a miracle, taking a dog like Lotto (ph), in that bad a condition, off the streets and then putting him in a loving home with someone like Joan (ph).

This is what I'm going to do the rest of my life. When I'm 85, I'll be on my laptop trying to save an animal from my rocking chair.

(END VIDEOTAPE)

HARRIS: If you know someone who deserves to be a CNN Hero, just log on to CNNHeroes.com and tell us about the person you admire.

(COMMERCIAL BREAK)

HARRIS: You know, for the first time in almost three months, no oil is flowing into the Gulf of Mexico from the ruptured well, but many who live along the Gulf are still frustrated over the response by BP and the government.

CNN's Campbell Brown talked with one whom who made an emotional appeal to President Obama.

(BEGIN VIDEOTAPE)

CAMPBELL BROWN, CNN ANCHOR: A lot of people have had heard you, have heard your message. Do you expect to hear from the White House? Do you expect to hear from the president?

CHERRI FOYTLIN, GULF COAST RESIDENT: If he is an honorable man, he will call me. I put my faith in him. I gave him the only thing a poor person has. And that's a vote. And I expect to be answered.

If he doesn't do that, then we'll know and we can all grieve, because America is dead. The America that John Adams dreamed up, when he said that noblemen were just as important as the small man, when he said we deserve clean air, we deserve clothes on our back, it's gone.

BROWN: So, Cherri, let me ask you to be specific. I mean, what would you like to see him do, honestly? FOYTLIN: Honestly, I want him to come listen to us. I want him to really understand how this is affecting us. And I want more than anything, my children to know I fought with everything I had, every single thing I had, not to lose not one more time.

And then I want to take him to the good people in the Gulf, because I've been there and I've talked to them, and they're my friends. And I want him to get the chance to talk to them to see what BP is doing to us.

I want him to understand. I want him to show faith in us. I want to be able to show faith in him again, and in the government again.

This is what the government is for. They're supposed to take care of us, and they're letting us down. Not just oil workers, the fishermen, the crabbers, the oyster men, shrimpers, all the people of Alabama, and Mississippi, Florida, Texas, 4 million people strong crying out. And what do we get? We get lies, we get commissions, we get meetings, we get hearings. Well, for God's sake, Jesus did not hold a commission about the lepers. He went out and helped them. That's what I'm asking him to do. If he says he's a Christian, then stand up and act like a Christian and come help us.

(END VIDEO CLIP)

HARRIS: OK, so the emotional stress of the oil disaster can cause anything from anxiety to anger to out-and-out depression. Louisiana wants BP to help cover the cost of mental health counseling. The story now from CNN's Randi Kaye.

(BEGIN VIDEOTAPE)

RANDI KAYE, CNN CORRESPONDENT (voice-over): When the Louisiana's health secretary send this letter to BP last week requesting $10 million in funding for mental health, he expected a speedy answer, days at most. This is what he told us last week.

ALAN LEVINE, LOUISIANA HEALTH & HOSPITALS SECRETARY: You know, that's one of the reasons why we put a deadline on the letter. If you notice the last sentence, we said we need an answer by next week.

KAYE (on camera): But that deadline has come and gone, no answer from BP. And this was the state's second request for $10 million. BP responded to the first request, saying it, quote, "looked forward to continuing the dialogue,' but the oil giant provided nothing.

(voice-over): The money, if it ever comes, would be used to treat those experiencing emotional trauma since the spill, fisherman like Lewis Lund Newton Jr. (ph), who can no longer fish to support his family because of the oil. His wife says he's full of rage.

RACHEL MORRIS, FISHERMAN'S WIFE: He wants to go on a rampage, screaming, punching, hitting, whatever he can do and he can't. And he just can't get it out, it's just stuck in there bubbling.

KAYE (on camera): How is that anger coming out?

MORRIS: It comes out -- he started drinking. He's smoking more when we're trying to quit. He takes it out on us just in general, we do something that would make him upset and all the other stress is piled on top of that.

KAYE (voice-over): Rachel Morris wants to help. She's learning how to navigate the emotional pressures at group wellness classes like this one at the St. Bernard Project. Other Gulf wives are here, too, same problem.

YVONNE LANDRY, FISHERMAN'S WIFE: I've got one at home right now that needs to vent, you know, but won't. He'll fuss at me or he'll fuss at him or the kids.

KAYE: Among other things, the group is taught breathing exercises to control stress.

The project's CEO, Zack Rosenberg, says if BP doesn't pay, this lifeline will end for many. They won't have enough money to treat everyone. Even now, it's far from ideal. Those anxious, angry or depressed already have to wait eight weeks just to get in for a first appointment.

(on camera): Is this wellness group an example of why you need more money?

ZACK ROSENBERG, CEO & CO-FOUNDER, ST. BERNARD PROJECT: If we are ability to get more dollars in a door, start peer-to-peer counseling program, if we're going to add evenings and weekends, and we'll open a satellite office down the road. The need is clearly there.

KAYE (voice-over): We tried to contact BP numerous times to ask why it hasn't even responded to the state's latest request. No one at BP responded to us, either.

(on camera): Does it surprise you that BP hasn't come forward with the $10 million to help people like your family?

MORRIS: No, I don't think -- it's not surprising to me. I don't think they're doing nearly what they could do. I don't expect the $10 million. They count care about us. We're an inconvenience to them.

KAYE: Inconvenience and perhaps just another expect in the $3 billion tab in the Gulf.

Randi Kaye, CNN, New Orleans.

(END VIDEOTAPE)

HARRIS: So you have a great idea for a product or a movie, and you don't know how to get investors to sign on? Tech guru, you'll love this segment. Katie knows where to go.

(COMMERCIAL BREAK) HARRIS: CNN's Fit Nation challengers look ahead to New York City's triathlon. Here is our chief medical correspondent, Dr. Sanjay Gupta.

(BEGIN VIDEOTAPE)

DR. SANJAY GUPTA, CNN CHIEF MEDICAL CORRESPONDENT: How do you get to say you're about to do something that you've never done before and something that you didn't think you'd ever be able to do?

Well, that's what it has been like for many of us training for this triathlon. It's this Sunday and it's been a bit of a nervous chapter, I think certainly in my own life, but one of great growth as well. And I'm joined by the six Fit Nation viewers. They all sent in their stories, and they all have agreed to join us. I'm going to ask if they have any second thoughts standing in front of the Hudson River. It's about a mile swim down that way, 26-mile bike or 25-mile bike and about a six-mile run. It's all in the metric system.

But, Stanley, thanks for joining us. How are you feeling?

STANLEY SABALLETT, FIT NATION TRIATHLETE: Good. A little nervous.

GUPTA: What was the highlight of your training? At what point did you realize, I can do this?

SABALLETT: I would say probably about a month ago. I did a little practice trial run in San Diego, and I swam for about a mile, and then ran a 5k. It felt really good when I was done. And I said, OK, I think I'm ready for this.

GUPTA: Angie (ph) from Ohio, I know it began the first day when we all started training together, you were nervous, as was everybody. Was there a point when I realized, OK, I can do this?

ANGIE FROM OHIO: I think I've been most nervous about the swim. The day I swam for half an hour without stopping, I think that was the day I said, OK, I can do it.

GUPTA: This is the starting point. The West Side Highway, about 25 miles.

Linda (ph), you've always seemed confident about this, but your story is you had a car accident, and you wanted to overcome some of the physical injuries. Was there a point when you thought, I absolutely can do this?

LINDA: I think in Austin, Texas. I was apprehensive. When we got to Austin, I finally felt like I know I can do this, after the training we had there and the different things that went on.

GUPTA: That's great. We got to ride with Lance Armstrong. That was pretty cool.

Dean (ph), was there a point when you realized you can? DEAN: Yes, it was probably about two weeks ago, I did a 48-mile bike right from 72nd Street transverse in Central Park all the way up into New Jersey, up to Piermont, New York which is the border in between New Jersey and New York.

GUPTA: Meredith (ph), how about you. We talked earlier, but you wanted to serve as a role model for young African-American women. Training has been hard for everybody, busy schedule, but at what point did you realize?

MEREDITH: Probably I went to a 36-mile bike ride, I really underestimated the importance of endurance. I've been so long focused on calories burned and what size am I wearing, but building endurance and being able to last through that ride made me realize I can do this.

GUPTA: I have no question that you will, and we'll jump in right with you, behind over there.

Rickey (ph), how about you?

RICKEY: For me, it was literally about a week and a half ago. When I started training in January, my coach had me doing four-minute walks -- runs, one-minute walk. You know, the whole time, for five months, I was doing run-walks for my training sessions on the run.

And then all of a sudden one Monday two weeks ago, a week and a half ago, he says, I want you to do a 50-minute run without stopping, so pace yourself so that you don't walk. And I was apprehensive the whole time leading up to the training session. Then I got up in the morning, did the run and I ran for 50 minutes without stopping. So that was a huge confidence builder.

GUPTA: Well, congratulations to all of you. I find these events to be social as well. A lot of camaraderie, good chance to stick together and have a lot of fun. Anybody out there watching, we may do this next year, so we'll recruit you to do this as well.

Thanks, back to you.

(END VIDEOTAPE)

HARRIS: Sanjay, appreciate it.

For more on living a healthier life, go to CNN.com/fitnation. And be sure to watch Sanjay weekend mornings. The focus is Haiti six months later, Sanjay visits a camp that actor Sean Penn has set up and is running.

Let's get you caught up now on top stories.

On day 88 of the oil disaster in the Gulf, so far so good with the new cap. Right now no oil is leaking from the Gulf, the testing continues. But BP executives say they have cautious optimism.

U.S. Middle East Envoy George Mitchell met with Israeli Prime Minister Benjamin Netanyahu today. Mitchell wants to see direct talks next month between Netanyahu and Palestinian Authority President Mahmoud Abbas, they have been communicating only through Mitchell.

And CNN has learned who West Virginian Governor Joe Manchin will choose to replace Senator Robert Byrd. It is Carte Goodwin, he is the former general counsel to Manchin.

(COMMERCIAL BREAK)

HARRIS: So all of us at one time on another have you had a creative idea, right? In our lives, whether it's a song, a book, a movement, but we just don't have the money or the organization to make it happen. Now there's a website -- I love this -- dedicated to kickstarting your idea. Kati, Katie, I love this what is kick starter?

KATIE LINENDOLL, CNN TECH EXPERT: It's a website for creative individuals. You can be an author, a photojournalist, an athlete, dancer, you need help funding your project or your goal. Basically you put a project up online, set a funding goal, in the hopes that people will support you. If it's a success, credit cards are immediately charged. If it's not a success, it's an all or nothing. Kickstarter has seen huge success. It's pledged over $10 million already. The awesome problem is if you have investors, you lose creative control. You retain ownership and keep 100 percent profits. Tons of new projects are posted every day.

HARRIS: This is terrific. Give us an idea of some of the projects.

LINENDOLL: We've actually featured quite a few, and they're really remarkable, and they span -- for example, we saw Adam Cork set up 200 vuvuzela players outside BP's head quarters and blast them for a day. He raised nearly $10,000. Also one we always talk about is Diaspora, which is the anti-Facebook. They have received over $200,000 in backing. With over 6,79 backers. We have sno-cone makers, authors, one lady is taking photographs of the oldest organisms around the world. I also want to tell you, why are people pledging? That might be a question. Obviously there's good karma involved here, but there's also retestify wards. If you have pledging, you get rewards. Saying you're an organic baker. If you give me $25, I'll give you some dough and recipes, so the rewards can be very cool.

HARRIS: That is terrific.

Give me the name of the website one more time, Katie.

LINENDOLL: We are going to kickstarter.com.

HARRIS: That is terrific. You're back with me next hour?

LINENDOLL: I am.

HARRIS: OK. I haven't seen you in the last couple weeks. I need a double shot of Katie. Be your own boss, own your own small business for a mere $100. The location comes with your very own post office. Room for eight and all sorts of space behind the third row.

(COMMERCIAL BREAK)

HARRIS: We mentioned earlier in the hour, Apple is coming up with a big announcement. Josh is following that part of the story for us.

Josh, are you getting some tweets, some lasts to share with us?

JOSH LEVS, CNN CORRESPONDENT: I'm getting blasts all over the place. We told you we wanted to hearing from you. Apple will make this announcement about the troubled iPhone 4.

Starting off with my Facebook page, John says, he wants a hardware fix for anyone who sends back their phones, a software update for measuring signal strength properly, and also free bumpers. Someone else wants a $30 gift card for someone who bought a bumper on their own. Dave says, as a joke, "free roll of duct tape."

Our John Sutter and our technology unit shows you how to use duct tape how to fix it.

Jimmy Turner, I love this, "And acknowledgement that the Android is a much better phone operating system, and maybe their theory on what happened at the end of 'Lost'." I guess he's not taking it too seriously.

I'm jumping over to Twitter now before I go. "Apple just needs to just come out and say they messed up. They should just give out free bumper cases, but no recall."

Let's do a couple more. "Recall, please. If new production is better than mine, it's super unfair. We camped out for these less than perfect phones."

We can end on this tweet, "I would like to hear everyone stop talking about the iPhone. It's still the mobile platform that everyone else is trying to be."

You can weigh in, too. We have the discussion going on my Facebook and Twitter pages. Feel free to weigh in. Let us know your thoughts. Hey, Tony, what do you want to hear today?

HARRIS: I know we're getting close to the top of the hour. I would love to get some more of these comments on the other side of the hour in the noon Eastern hour, can we do that?

LEVS: Fine by me.

HARRIS: Perfect. Thank you, sir. Thank you, Josh.

Stocks sliding. Can we look at the Big Board here for half a second? Look at this. We're going to check in with Alison Kosik in just a minute.

You're in the CNN NEWSROOM.

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HARRIS: It is your favorite financial news website -- ours too, as a matter of fact -- CNNMoney.com. Let's take you to the big here. Stocks sell-off steepens. Stocks tumbling after GE , Bank of America and Citi reporting a weaker quarterly revenue. When we talk about a sell-off, we are really talking about a sell-off here today. We are almost 90 minutes into the trading day and it's deeper than that into the trading day. The stock exchange opened at 9:30. We're down 193 points. Nasdaq down 48. This is a tough start to the day. Are you familiar with this story, the SEC reaching a record-breaking settlement deal with the Wall Street firm Goldman Sachs. That happened yesterday. But some are saying that the huge find is not big enough.

Alison Kosik is on the floor of the New York Stock Exchange with the details. Maybe some of the reaction on the street.

ALISON KOSIK, CNN BUSINESS CORRESPONDENT: Traders are talking about it here at the New York Stock Exchange that what happened about Goldman Sachs yesterday. Goldman Sachs going to have to write out that check for $550 million to the SEC To settle some fraud charges. Some traders saying it is really just a drop in the bucket for Goldman Sachs.

In the fourth quarter Goldman Sachs made that much money in 14 days. But it is still the largest penalty ever paid by a company to the SEC At the core of this case, regulators said Goldman did not disclose certain conflicts of interest about a risky subprime mortgage related investment. Who can forget how it sparked public outrage.

We had Senate hearings on Capitol Hill. And besides this hefty fine that Goldman Sachs is going to have to pay, Goldman is going to have to change the way it does some of its business. Notably it is going to have to expand the role of the internal committee responsible for approving of risky investments and any marketing material that comes out of Goldman Sachs will have to be reviewed by legal or compliance officers.

One thing to mention in the outcome of this settlement though, remember Fabrizi Tory, he's one of the vice presidents there. He's not mentioned in this settlement so the SEC Is still pursuing a case against this guy. Who can forget how Congressmen were just sitting there reading all of his e-mails about his girlfriends and about his business transactions. So he is still -- he still has to go face to face with the SEC

HARRIS: So what's happening -- what are traders saying about all of this? Are you getting any reaction? What's happening with the stock?

KOSIK: They're thrilled with the stock. The stock is actually the only standout on the market today. Goldman shares right now are up 2 percent. The market overall is down over 200 points. Traders are relieved. Because what could have happened is Goldman could have seen a fine anywhere above $1 billion, and even better for the company and better for the share price is Goldman, by settling and settling very soon -- because this came down in April, the charges did -- by settling this soon, they are able to kind of put aside this really bad pr hangover that's been over the company.

By the way, they are reporting second quarter earnings next Tuesday. Profits are expected to be very good.

HARRIS: All right, see you next hour. Thank you.

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It is a sign of these flat economic times. A small business for sale. But not the traditional way. You have to win this business. Richard Sharp has the story from Cromburg, California.

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ROB MOWERY, OWNER, GOLDEN COACH RV PARK: They're roomy spaces. You're not right on top of each other.

RICHARD SHARP, KCRA REPORTER: Rob Mowery is raffling off his dream property. The Golden Coach RV Park in Cromburg, California, a remote but popular part of Plumus County.

MOWERY: My dream was more crushed by the economy and fuel. Fuel's really the thing that hurt us the most.

SHARP: The park isn't making enough money to pay his mortgage, so for $100 a ticket, he's raffling it all off. All nine acres, valued at more than $1 million.

(on camera): Those nine acres include 51 RV spots, a house, a post office, not one but two stagecoaches, two fire pits and some spectacular views.

It's really tough.

MOWERY: Yes, it is. It's very tough because I have huge expectations of what this park could be.

SHARP (voice-over): With the money from the raffle, Mowery can get out of debt and the winner gets everything -- except the mortgage.

WALT FICHER: I love it. This is my favorite place.

SHARP: Walt Ficher (ph) has come here for years. He knows about the raffle, but he's working against it.

(on camera): You buy one of the raffle tickets?

FICHER: No, I don't want it to go. If he doesn't sell enough, then he's not going to raffle it off.

SHARP (voice-over): Like every good sales pitch, there is a catch. If Mowery 10,000 tickets aren't sold, the loan can't be paid off, there is no raffle and the money is refunded so he's trying to talk to anyone who will listen.

MOWERY: Oh, my god, yes. I mean oh, my god! Yes! Everybody that will stop and listen to me!

SHARP: The raffle's on Labor Day. So far he has sold less than 100 tickets. He is hoping the Internet will help him reach his goal of selling off his dreams.

MOWERY: Most people say it is just an unbelievable idea and they don't believe it. They don't believe that it's going to be a mortgage-free deal.

SHARP: In Cromburg, California, KCRA 3 reporting.

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HARRIS: If you don't win the RV park, don't fret, second prize is a 2010 Chevy Malibu.