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Tropical Storm Approaching Gulf Coast Downgraded to Depression; Two American Soldiers Captured in Afghanistan; Financial Planner Gives Advice On Paying For Eldercare

Aired July 24, 2010 - 14:00   ET

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

FREDRICKA WHITFIELD, CNN ANCHOR: Blistering temperatures and dangerous conditions in 24 states. We'll show you just how bad it is coming up.

Then at 3:00 eastern time, oil worker Gordon Jones killed in the Deepwater Horizon explosion. We'll talk to his father about troubling new revelations about safety conditions on board that rig.

And same-sex couples get no help from immigration laws that protected married couples from deportation. Their dilemma and the debate coming up in the 4:00 eastern hour.

You're in the CNN NEWSROOM where the news unfolds live this Saturday, July 24th. I'm Fredricka Whitfield.

Several big weather stories today -- severe flooding in Chicago, half the country has temperatures hot enough to trigger heat advisories, and we continue to watch tropical depression bonnie weakening in the Gulf

(WEATHER REPORT)

WHITFIELD: So how soon now can workers and ships start resuming their work in the gulf now that this storm seems to be dissipating? CNN's David Mattingly is in St. Tammany Parish, Louisiana. So we heard last hour from Admiral Thad Allen they're going to resume the work on the damaged well, right?

DAVID MATTINGLY, CNN NATIONAL CORRESPONDENT: That's right. This storm is not as bad as it could have been, so they're moving some of the ships back into the area as we speak. But this storm is going to cause problems along the shores here in Louisiana.

This is a waterway that leads into Lake Pontchartrain back behind me. Every time a tropical system gets in the Gulf, easterly winds blow that oil in the form of tar balls this way. And they've actually had tar balls in Lake Pontchartrain. So this storm could still be doing some damage, moving the oil around into places where they really don't want to see it.

But right now there's an argument going on about what to do with the so-called assets, the equipment they use to fight this oil. They've had barges out in the water being retrieved right now because of the storm. They have right here a lot of boom that's normally deployed that has been brought in because of the storm.

But local officials are worried, they want to make sure they hold BP's feet to the fire, that every bit of this equipment that's come out of the water for the storm goes right back in as soon as possible. And this started with a fight.

(BEGIN VIDEOTAPE)

MATTINGLY: They don't look like much, but these barges are the last line of defense in St. Tammany Parish against the BP oil spill, and they're about to disappear.

(on camera): Without this barge in place, there is nothing stopping that oil if it comes this way?

KEVIN DAVIS, ST. TAMMANY PARISH PRESIDENT: After that, no. We're wide open for the oil to come into Lake Pontchartrain.

MATTINGLY (voice-over): With possible tropical system Bonnie bearing down, this coastal parish will be defenseless. Barges and booms can't handle rough seas or winds over 40 miles an hour. So the coast guard is pulling them out. But that decision started a fight and triggered a threat.

(on camera): Is this true? You actually threatened to arrest anybody who moved these barges?

DAVIS: I'm sorry about those actions. But I'm going to defend this area against oil, and I'll take whatever action is necessary. I issued an executive order that said no assets dealing with BP oil recovery for any of its contractors could relocate any of their assets out of my parish.

MATTINGLY (voice-over): St. Tammany Parish President Kevin Davis tells me of a seven-hour shouting match with coast guard and BP contractors, intent on moving the barges far inland for protection, too far away, he says, to redeploy quickly after the storm.

(on camera): There have already been a couple of tropical systems getting into the Gulf this summer and each time it changes the wind patterns and blows the oil right into this area. And each time those systems haven't been anywhere near here. Bonnie is expected to be a direct hit.

ADM. THAD ALLEN, NATIONAL INCIDENT COMMANDER: Booms and barges don't stop storm surge. Booms and barges become victims of storm surge.

MATTINGLY: I asked Admiral Allen about his plan. He says it was driven by his experience in hurricane Katrina.

ALLEN: I'm still haunted by the Specter of flying in over New Orleans on the 6th of September as a principal federal official and looking down at New Orleans to a parking lot full of buses that were flooded and not used for evacuation because they were not moved in time. Next question. MATTINGLY: But this storm is nowhere near the power of Katrina. Still, local officials say because of the oil, it does carry a danger they have never had to fight before. This new threat comes at a time when days have passed since they've seen any new fresh oil.

That's all going to change. When the wind shifts, this lake -- everything will be coming inbound and will pass right through here.

(on camera): Without these barge, it keeps on going?

DEXTER ACCARDO, ST. TAMMANY PARISH EMERGENCY PREPAREDNESS: Without these barges it's going to go into Lake Pontchartrain and affect nine counties.

(END VIDEOTAPE)

MATTINGLY: This storm is going to do two things primarily. It's going to move that oil around. You can see how the water behind me is already getting choppy and the storm is still hours away. That choppiness is going to churn up the oil, help it biodegrade even faster than it has been. So that's a good thing.

But it's also going to be moving it in places where it's never been before, possibly further into marshes and beaches where it's never been before. So everyone is waiting to see after the storm passes what kind of new evidence of this oil spill is going to be lingering and where. Fredricka?

WHITFIELD: David Mattingly, thanks so much.

And don't forget, 11 men died when the Deepwater Horizon rig exploded back in April. Next hour, the father of one of those victims joins me here in the Newsroom to talk about the latest hearings surrounding BP.

And North Korea's heated rhetoric against the U.S. is getting even hotter. Today Pyongyang warned today it would use "nuclear deterrence" to respond to joint U.S.-South Korean military exercises.

And about 8,000 military personnel are expected to take part in the drill tomorrow off the South Korean coast. The U.S. says the exercises are in response to the deadly sinking of a South Korean ship blamed on the North.

Mike Chinoy, a former reporter with CNN and now a senior fellow at the University of Southern California, says it is possible this war of words could escalate even further.

(BEGIN VIDEO CLIP)

MIKE CHINOY, SENIOR FELLOW, UNIVERSITY OF SOUTHERN CALIFORNIA: I think the North Koreans know if they get into a serious shooting war with South Koreans and the United States, they're going to lose their regime and their system are going to disappear. So they're not interested in provoking that kind of war. On the other hand, when you have both sides engaging in saber rattling and muscle flexing, and that's what this joint U.S.-South Korean naval exercise is. It's a show of force intended in the words of both South Korean and U.S. official, to deter North Korea, there is the danger of an incident of one episode spiraling out of control.

(END VIDEO CLIP)

WHITFIELD: In addition to the 8,000 military personnel, about 200 aircraft and 20 ships and subs will actually take part in tomorrow's U.S./South Korean exercise as well.

International Security Forces in Afghanistan are searching for two service members who went missing near Kabul. An Afghan intelligence source tells CNN that the missing troops are American. CNN's Atia Abawi joins us on the phone from Kabul. What more can you tell us?

ATIA ABAWI, CNN INTERNATIONAL CORRESPONDENT: Fredricka, I can tell you it's been a very rough day for the Americans. NATO also now confirming those two service members who are gone missing are Americans, coming on the same day we're finding out that five Americans were killed in southern Afghanistan in two separate IED attacks.

What we're hearing from NATO and ISAF is that these two service members left their compound in the capital of Kabul Friday afternoon. They went missing and right now a search is on to locate them. But they would not give any more information.

What we're hearing from Afghan intelligence is that these men were actually driving in an armored vehicle, not a military vehicle, in the province of Logar. And that is right underneath Kabul province, the capital of Kabul.

Fredricka, we keep talking about the Taliban in southern Afghanistan, primarily in Kandahar and Helmand. But what isn't talked about very much is eastern Afghanistan anymore, particularly those provinces actually that surround the capital province of Kabul, which includes Logar province. Logar is permeated with members of the Taliban.

Right now, we're trying to figure out exactly what they were doing in Logar province, why two service members drove on their own in an armored vehicle, not a military vehicle, to the province of Logar. The details right now are pretty sketchy. But we're trying to figure out exactly what may have happened. Fredricka?

WHITFIELD: Atia Abawi, thanks so much, from Kabul. Thanks for that update.

Meantime, it has been a bloody summer for American troops in Afghanistan. And it takes an even deadlier turn. You heard a bit of what Atia was saying. Five U.S. troops killed today in two bombings in southern Afghanistan. U.S. death toll for the month now stands at more than 50. And victims of the wars in Afghanistan and Iraq were remembered today at a wreath-laying ceremony outside Washington at Arlington National Cemetery. This is the second annual weekend of remembrance for Americans killed in those two wars.

It was hosted by Families United, which describes itself as a nation's largest military family support organization.

Also protecting your parents' money, we'll tell you what you should be doing right now and perhaps even down the road. That's coming up next.

(COMMERCIAL BREAK)

WHITFIELD: Protecting your parents' money as they get older can be very complicated and a rather emotional process, too. And sometimes that means a lot of folks put it off. But procrastinating can be costly.

So Michelle Singletary wrote the book "The power to Prosper, 21 days to financial freedom." And she's also a nationally syndicated personal finance columnist for "The Washington Post." And Michelle is joining us from Washington.

So Michelle, this is kind of awkward for a lot of families, talking about money, especially talking about money to your elders because you figure they're the ones who should be talking to you. So how do you begin this process?

MICHELLE SINGLETARY, AUTHOR, "THE POWER TO PROSPER": It's a very difficult time, because the roles have been reversed. They've spent years taking care of you, and now you have to have that all-important question or conversation with them.

And, listen, the time to do it is before they're in need. You've got to start as they start aging, they get in the late 60s and 70s say, listen, mom, dad, how are you going to prepare for yourself? Do you want to be in an assisted living facility, do you want to stay in your home? Is there some expectation you're going to come live with me?

So many people avoid having this conversation because it's so difficult and it's so painful. And as a result, when the time comes, they're not prepared to take care of their parents.

WHITFIELD: And you know from personal experience, you had to go down this road with your parents and now other family members that you're also helping to manage. So this advice really comes from your personal experience. You've been down this road.

SINGLETARY: So many times, I tell you. I helped take care of my elderly grandfather when he had lung cancer. With my grandmother before she passed. A disable brother and now I'm helping with my father-in-law, which is difficult because he's not my dad.

As I'm the woman, I work a lot from home, a lot of the responsibility falls on me, and sometimes, I'm going to be honest, I get a lit ticked off. I'm like, this is not my dad. But you want to help --

(LAUGHTER)

WHITFIELD: You're being really honest here.

SINGLETARY: It's really -- and that's some of the things you have to learn to deal with. You ought to have some support systems so that you can voice those frustrations. I never want him to know that I'm frustrated because I do feel it's my responsibility as my husband's wife to help take care of his father.

WHITFIELD: Wow. OK, so some of the questions you need to ask your parents, grandparent, the elders in your family, need to find out about their insurance policies, what kind of long-term care or disability or life insurance policies they have in place.

What do you do with that information once they say, OK, I've got this, I don't have this, et cetera?

SINGLETARY: You're looking for gaps. If they don't have long- term care insurance, which is the insurance that helps take care of hiring someone to help with daily living activities -- cleaning yourself, cooking, those kinds of things -- then you have to figure out who's going to pay for that?

Do they have enough monthly income coming in from Social Security or pensions to pay for it? Are you going to have to put in some money to help that? If they're going to stay at home, are you going to have a caregiver come in? If they're going to live in an assisted living facility, do you have the money it takes to do that?

So you're looking to see where everything is covered and where the gaps are.

WHITFIELD: And as you make these discoveries about whether they want to stay in their homes, it means some modifications need to be made in the home, because obviously their physical abilities are going to have newer needs. Who pays for that? Where's the money going to come from?

SINGLETARY: Oftentimes it's out of pocket. What people don't understand is Medicare does not pay for long-term care, and that includes home modifications. And so that's why it's important to know what the finances are.

For example, in my father-in-law's case, we have to retrofit, or we want to, his home bathroom because he's got the old-fashioned tubs. He can't lift himself up over that to get in there. So he came to live with us for a little while and we modified the bathroom where he was living in our home so it would be easier for him.

That's why it's so important. There are 40-plus million families that are going to be facing it now and millions more who are going to face it. And I know people are saying, I know mom and dad need help, I live miles away. They won't tell me because a lot of the seniors don't want to tell you the information, they're fiercely private. And I understand that.

WHITFIELD: You have to probe. You have to ask them about assets, about monthly income, how are you going to be able to afford these things? How do you delicately have that conversation with mom, dad, grandma, great aunt?

SINGLETARY: I'm not a drinker, but if I was, take a glass of wine.

(LAUGHTER)

But if you're not, take a deep breath. You do it very gently. You have to remember, lots of times we talk about the role reversals, that you're now the parent. You are not the parent. These are responsible adults. They have wishes that you need to honor.

So you sit down and you say, I really want to help you. The only way I can help you is if I have information, which is what we did with my father-in-law. He didn't want to tell us anything. And finally we said, listen, we've got to know so we can help you.

Put the "I" in there, "I want to help you, I want to be sure that we respect your wishes." You have to be sure that that you have their confidence like that.

SINGLETARY: You actually may be pleasantly surprised that your parent, grandparents might be forthright and say, I was hoping you were going to ask me, because here, and they lay it all out.

Michelle, we're going to have more answers and guidance from you. We've been inundated with a lot of questions. People want to know. They have other scenarios they have been asking you through my blog at CNN.com/Fredricka, and also on Josh Levs' Facebook page. We have questions for you right after this break. Michelle Singletary will be right back in a moment.

(COMMERCIAL BREAK)

WHITFIELD: A look at our top stories right now. The weather system that entered the Gulf of Mexico as tropical storm Bonnie is now a depression. The system fizzled as it moved across Florida.

Tropical storm warnings for the Gulf States are no longer in place. Vessels involved in the containment work in the Deepwater Horizon Gulf oil rig are moving back to the site today.

And thousands of people in the Chicago area are without power after severe storms swept through the region, as you see right there. The storms dumped heavy rain on the city and the suburbs, flooding basements and closing roads as well as highways.

And the search is on in Afghanistan for two missing troops with the NATO-led mission. NATO now confirms the two are Americans who have been missing since leaving their compound in Kabul yesterday. We'll have more top stories in 20 minutes.

So we're going to get back to managing your money. In this case, trying to help manage your parents, your grandparents, the elders in your life, their money. We have answer for a lot of questions you've been sending our way.

Joining us right now are CNN's Josh Levs and financial expert Michelle Singletary, also a columnist for the "Washington Post." So, Michelle and Josh, we've been getting a lot of questions from people wanting to know, how do I do this? How do I manage? Let's begin with one from Linda.

JOSH LEVS, CNN CORRESPONDENT: I'll tell you something, people love Michelle. And when I post that had Michelle was going to be here today, people were so excited. People are all over there.

WHITFIELD: Michelle, you knew you were popular.

SINGLETARY: Yes.

(LAUGHTER)

LEVS: I don't say this all the time or to every guest. Linda -- "How should I plan to invest in the higher tax landscape of 2011? With all the troubles cities are having, do municipal bonds make sense?"

SINGLETARY: Well, you know, when I approach investing, I approach it from what are you investing for? Because lots of people want to focus on just the tax part of it, and that's not the full picture.

So I would have to ask, what are you investing for? Are you investing for your retirement or so that you can help send your kids to college?

And when you look at municipal bonds or -- because that's a good part of your portfolio, I have some, you want to look at the rating and how they're performing, and then talk to an adviser. It's hard to answer these kinds of questions without knowing the rest of this person's financial picture.

LEVS: You're not saying straight off the top avoid municipal bonds for any city having a tough time? It's still possible you can get a strong rating on those bonds.

SINGLETARY: If it's a good rating, yes. That's what you want to look at, especially if you're concerned about protecting that principal.

LEVS: Let me get to another one from Moses. ?I'm underwater on my home. I make my payments on time and I'm trying to get a loan modification. The bank refuses to work with me. Should I stop paying so I could qualify?" This is the kind of question we get sometimes. People say if they foreclose they think they'll get more help. If they give up, they might get more help. WHITFIELD: They have to look like they're in a more dire situation.

LEVS: A lot of people are saying. Michelle, what do they do?

SINGLETARY: You don't want to stop paying. For a lot of people, that's how you feel like you get more help. I would suggest that you find a HUD-approved housing counselor. I say that knowing these people are overwhelmed with calls right now. But you need someone to help you negotiate with your lender.

WHITFIELD: You need to get a third party involved?

SINGLETARY: Exactly. And the key is a HUD-approved nonprofit, no fee -- please don't pay all these thousands of dollars to these people who try to do this for you.

You can go to HUD's website. There's lots of help for you out there that is free that will hem you negotiate with your lender. But it is definitely tough. I wish I had the perfect answer to tell you how to do this. But just keep trying.

LEVS: The third one is kind of a joke, but I'll mention it. This comes from Justin. He says, "can you tell me how to make $1 million before I hit 40, because that would be awesome?" If he's only 15 --

WHITFIELD: If he's 39, huh-uh!

(CROSSTALK)

SINGLETARY: Listen, if I could tell you how to do that, I would not be here on a Saturday afternoon. I would be in the Hamptons.

(LAUGHTER)

(CROSSTALK)

SINGLETARY: Really what the question is, how do I have financial security? And the answer is, live below your means. Whatever you make, spend less and have a financial plan.

I have this phrase that says "every penny ought to have a purpose." If you watch how you spend your money, you can be the equivalent of a millionaire, which really means, can I buy and pay for the things that value to me? And it's quite possible to do that.

My grandmother who passed away, she lived 20 years in retirement on Social Security and her savings because she didn't have a lot of debt, and she lived like a millionaire, which, by the way s not with a lot of fancy cars and things like that. It's about financial peace.

WHITFIELD: And being comfortable.

SINGLETARY: That's exactly right.

WHITFIELD: Michelle Singletary, columnist with the "Washington Post," thanks so much.

SINGLETARY: You're welcome.

WHITFIELD: We're so glad you had it in your schedule to be with us on a Saturday.

(LAUGHTER)

SINGLETARY: It's cooler here.

WHITFIELD: OK, good. Until you step outside where it's triple- digit, but try to stay cool as best you can. She's a cool cucumber all the time.

Josh Levs, thanks so much.

LEVS: Thank you.

WHITFIELD: And thanks to you at home for sending those great questions to keep the conversation going about money and what to do.

Meantime, cleaning up the Gulf coast, it's no easy task. That you know by now. Our Rob Marciano is on the job. He's going to show you just how tedious this work of scooping up these tar balls really is.

(COMMERCIAL BREAK)

WHITFIELD: Most times rain would seem like relief in a very steamy summer like the one that we have right now. But not right now, actually. It's causing a bit of a headache in some places.

(WEATHER REPORT)

WHITFIELD: Oil recovery along the U.S. Gulf Coast now -- a day at the beach is definitely no vacation. CNN's Rob Marciano finds out just how tall of an order it is along Florida's Perdido key.

(BEGIN VIDEOTAPE)

ROB MARCIANO, CNN METEOROLOGIST (on camera): I'm Rob Marciano. Nice to meet you. You're in charge of this operation?

UNIDENTIFIED MALE: Yes, sir. Got you a shirt here. Put you to work. Hope you're ready.

MARCIANO: I'm ready.

The first thing I noticed on my trip to the clean-up site, it was hot, really hot.

UNIDENTIFIED MALE: When it gets up in the middle of the day, you'll see that the heat index will be over 100. When you're out here working in the heat and like these guys right here in rubber boot, rubber gloves, long pants, shirt, there's no shade out here, just sun. MARCIANO: I've got my sunscreen. There's some tar balls to be picked up. I think this is going to be a tedious workday. After suiting up, it was time to work.

So this is Hans Elliott. Are you in charge of this crew?

UNIDENTIFIED MALE: I am.

MARCIANO: He's the foreman. He's my boss. And for today, you're my buddy as well for today.

UNIDENTIFIED MALE: That's correct.

MARCIANO: I picked up a broom and got started. Just trying to lightly brush it so you don't take that much sand?

UNIDENTIFIED MALE: Exactly.

MARCIANO: This requires the touch of a surgeon trying to get these little tiny tar balls off the beach without taking a ton of sand. That's not easy.

(voice-over): The sand and the oil is piled up, shoveled up and then placed in a plastic bag to be disposed of.

MARCIANO (on camera): I feel bad that I'm taking that much sand but there's no way else to get it. The sand on these beaches is precious. I don't want to take too much, but you'd rather have a clean beach with a little less sand than a beach that's got a bunch of oil on it.

This feels like it will take forever.

(END VIDEOTAPE)

MARCIANO: Well, that was a couple of weeks ago. Beaches are a little bit cleaner now. But during that eight-hour shift with a crew of eight people, Fredricka we only cleaned 150 yards of beach.

One thing I've learned throughout this entire shoot, everything you think is easy and should be quick is difficult and is very, very slow. I think if you were out there, things may have gone a little bit more quickly. But we need your help, Fred. Where were you?

WHITFIELD: You know what? I can suit up. I can get out there and help you. Something tells me when you finished that more than 100-yard area, I bet if you go back to that other 100 yards, new tar balls have washed up?

MARCIANO: Yes, that happened quite a bit. And we've seen less of that over the last few weeks, and that's the good news, especially with the well being capped.

But the extraordinary effort of people not only cleaning the beach but the people out there skimming the water, trying to cap the well, and people out there saving and rescuing and rehabilitating wildlife, those are the people we profiled in this hour special we have coming up tonight. You're going to watch, aren't you, Fred?

WHITFIELD: Of course, that's a given. Do you have to ask me that? You know I'll be tuning in.

MARCIANO: Look at this ridiculous graphic they've been showing. It's got me in a hard hat trying to look tough. It's got the times on it.

Just to reinforce that, if you can't hang around, at least set your DVR, 8:00 both eastern and pacific. It's a great journey showing the grit and tenacity of the people out here trying to save the Gulf of Mexico. And I was honored just to go shoulder to shoulder with them and see what they could do. I can tell you for a fact, they're all a lot tougher than I am.

WHITFIELD: They took you in and you have been christened. I think you're pretty tough. Rob Marciano, thanks so much. We'll all be watching tonight, 8:00 eastern time, and again tomorrow night 8:00 eastern time. Rob Marciano, thanks so much.

Of course, this entire effort is about the clean-up. But if you rewind this whole experience after three months, it all began with an explosion on that Deepwater Horizon rig back in April. Eleven men died.

In the next hour, we're going to be joined by the father of one of the men who died in this. He's been watching very closely the hearings that have been ongoing involving what went wrong -- what led to that explosion. He's going to actually join us in the "Newsroom" next hour.

Meantime, before the oil, there was Katrina. And now five years later, people in the Gulf Coast region are still struggling to rebuild and get their businesses back on track.

(COMMERCIAL BREAK)

WHITFIELD: All right, in Bay St. Louis, Mississippi, almost every business and homeowner was slammed by hurricane Katrina. And that started a big move inland. It seemed no one wanted to actually risk rebuilding on the waterfront.

So Tom Foreman introduces us to one family who is actually bucking that trend.

(BEGIN VIDEOTAPE)

TOM FOREMAN, CNN CORRESPONDENT: The Trapani family restaurant has great cooks, loyal customers. The owners Joelyn and Tony are dedicated, hardworking.

TONY TRAPANI, RESTAURANT OWNER: L These crab cakes right here have no bread in them whatsoever.

FOREMAN: But situated far from the water, they lack one thing -- location, location, location. TONY TRAPANI: This place needs to be on the beach. We're doing OK, but we can't stay here forever. We have to move back to that beach in order to help the community out.

FOREMAN: For a dozen years, their place was right on the waterfront and they had lots of company. This whole area out here was filled with businesses.

TONY TRAPANI: And all of this was businesses and that was a coffee shop.

FOREMAN: Plenty of restaurants have opened since Katrina. There are now more on this coast been before the storm. But they are building inland, not on the water, and especially not now with the danger of oily tides in the mix.

So the Hospitality and Restaurant Association is offering classes for aspiring restaurateurs, helping with business plan, running special promotions to attract customers, all because they know they need businesses on the beach to build up their part of the Gulf.

RICHARD CHENOWERTH, MISSISSIPPI HOSPITALITY AND RESTAURANT ASSOCIATION: It's just like having a wheel with all the gears in it. You have the little sprockets going around. If one of those goes, you start slipping like this, and it kind of goes down.

FOREMAN: You need them all?

CHENOWERTH: We need them all.

FOREMAN: The Tripanis have made up their minds. Soon they will break ground, rebuilding right back where Katrina took them down and where the oil still threatens.

Why is it so important for you to be back here again?

JOLYNNE TRAPANI, RESTAURANT OWNER: We always knew that this is a big puzzle -- piece of the puzzle that we can replace to bring back this community.

TONY TRAPANI: We are determined to rebuild this thing.

FOREMAN: Because they are convinced if they build it, not only customers but other businesses will come, too.

(END VIDEOTAPE)

WHITFIELD: A look at our top stories right now. The Midwest and eastern U.S. are sweltering in record heat. Heat advisories are in effect in two dozen states. And it could feel like the hottest day of the summer for millions of people as temperatures rise into the triple digits.

And in just a few minutes, our Bonnie Schneider will be telling us when we might see the mercury go down. Germany's love parade music festival in Duisburg took a horrifying turn today. Police say ten people were killed and at least 15 others were injured when suddenly mass panic broke out. It's not clear what triggered the chaos. An investigation is underway.

And North Korea is ratcheting up the rhetoric against the U.S. It's threatening to respond with, quote, "nuclear deterrence" to joint U.S./South Korean military drills. Those exercises are set for tomorrow off South Korea's coast. The U.S. says the exercises are in response to the deadly sinking of a South Korean ship blamed on Pyongyang.

And a close encounter at sea that gave some sailors the shock of their lives. We've got the stunning video. You're not going to believe what happened, next.

But first, it's the future of vanity, so to speak. Our Gary Tuchman takes a look at a mirror that can show you more than just your pretty face. Check out this "Edge of Discovery" report.

(BEGIN VIDEOTAPE)

GARY TUCHMAN, CNN NATIONAL CORRESPONDENT: A mirror that can multitask? Snow White's evil queen had one. And now the interactive mirror by Interference, Inc.

SAM EWEN, CEO, INTERFERENCE, INC.: It's a new take on something most people have in their home. We've added little bit of magic to it.

TUCHMAN: One touch unlocks absent widgets that transform the mirror into a gaming console, a design board, even a place to get the news while using the mirror to start your day.

EWEN: The latest headlines from CNN. I also have the time, date and weather right there. There's no reason we couldn't link to your schedule on your iPhone, blackberry. or your computer or your blackberry and say, here's what I'm doing today.

TUCHMAN: Sam Ewen dreamed up the interactive mirror two years ago. The mirror recognizes an object in the real world and reacts by displaying information tied to that object.

EWEN: We have a simple "Hello World" animation here. But this could be almost anything. You could be at a music store and you're wearing a U2 t-shirt, and we recognize the logo and suddenly we pop up the latest U2 video.

TUCHMAN: If you're wondering how to get one, a consumer version of the mirror is in the works. Its creators say it will cost in the hundreds.

Gary Tuchman, CNN.

(END VIDEOTAPE)

(COMMERCIAL BREAK)

WHITFIELD: Luke Skywalker, where are you? After Darth Vader makes an unauthorized bank withdrawal, take a look right there, at least he looked like the "Star Wars" villain, except for the camouflage pants there. Police on Long Island say whoever it was held up a Chase bank Thursday morning. And instead of a light saber, he actually had a gun.

And business smarts -- this California teenager definitely has them. He's getting into his new ride. And listen to what it cost him. Just two years ago, 17-year-old Steve Ortiz started doing trades on Craigslist. Can you believe this, a 2000 Porsche. How do you do that?

(BEGIN VIDEO CLIP)

STEVEN ORTIZ, TRADED PHONE FOR PORSCHE: A lot of my friends say, you want to trade me a phone for my car? I tell them it takes time and patience definitely. I was thinking about selling this and buying a house for my parents. You never know, that or maybe another truck. We'll have to wait and see.

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WHITFIELD: He can probably figure out how to do that. Remember, he's just 17. Ortiz can enjoy driving that Porsche because he just got his driver's license.

And two sailors in South Africa got the shock of their lives. Take a look at this. It's beautiful and placid until this -- they became face to face with a massive whale. The 40-ton animal actually lunged out of the water. You saw it right there. And it slammed into their small boat.

A marine mammal expert says whales have poor eyesight. And since the couple was sailing without the engine on, the animal probably didn't realize the boat was there. The whale and the sailors escaped injuries. No such luck for the boat. The mast and the rigging were simply smashed. Pretty extraordinary stuff, and so amazing that actually it was caught on tape right there all happening.

Meantime, BP is being accused of trying to buy scientists, buy scientists. Are experts being paid to conceal the real truth about the oil disaster? We're digging into it as well.

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WHITFIELD: BP is facing hundreds of lawsuits, and the oil giant's lawyers are lining up expert witnesses. BP's payments to scientists come with strings attached.

CNN's Randi Kaye reports those strings may keep vital information from the public.

(BEGIN VIDEOTAPE) RANDI KAYE, CNN CORRESPONDENT (voice-over): The contract is short and to the point, just three pages. It's between BP and marine scientists and researchers along the Gulf, hired for their expert witness services.

(on camera): Sounds pretty harmless, right? Hardly, say the scientists we spoke with, who tell us they've been approached by BP. The way they see it, BP is tying up expert witnesses, witnesses what might otherwise testify for the federal government when the government filed its natural resources damage assessment lawsuit.

The scientists also say that BP is trying to prevent the scientists' ongoing research and findings about the spill from being made public.

(voice-over): The oil giant wouldn't comment on the contract. BP's contract states all communication between the scientists and BP attorneys should be considered, quote, "privileged and confidential." It also says scientists have to wait three years after they sign the contract to publish their findings or at least until the natural resource damage assessment is complete.

It is BP's apparent attempt to insulate itself from oil litigation. No matter what the scientists find, good or bad, they can only share it with BP.

Robert Wiygul, a Mississippi environmental lawyer who has clients with claims against BP, looked over the contract. He says BP is trying to buy silence by taking key scientists out of circulation.

ROBERT WIYGUL, ENVIRONMENT LAWYER: The public's going to need the best science that they can get to make sure the damage from the spill gets fixed, gets compensated for and then it gets done in the best possible way. And if you lock up the people who know the most about this, who are the scientists and the research institution down here, the public's not going to get what it ought to out of that process.

KAYE: Texas A&M Professor Norm Guinasso says he was contacted by BP within days of the spill to be, quote, "part of their legal defense." Professor Guinasso has been studying oil seeping into the Gulf for 30 years but refused to agree to BP's restrictions since they would prohibit him from publishing his research.

PROF. NORM GUINASSO, DIRECTOR, GEOCHEMICAL ENVIRONMENT RESEARCH GROUP, TEXAS A&M UNIVERSITY: They told me I couldn't worse for anybody else, that I could not speak out publicly about the oil spill. And I told them I probably was not interested. I didn't think it was ethical.

KAYE: The professor says BP called again, asking him to reconsider, but again, he turned the company down.

(on camera): It seems BP is shopping for experts all along the Gulf Coast. Besides Texas A&M, the University of Southern Mississippi told us BP reached out to hire some of their scientists. They all declined.

And at the University of Southern Alabama, BP tried to hire 60 experts, including marine scientists and graduate students. The university told the oil giant no thanks.

ROBERT SHIPP, CHAIR, UNIVERSITY OF SOUTHERN ALABAMA (via telephone): We laid out the stipulations that we would require if we entered into such an agreement with them and I guess the main thing was total transparency. That anything we discovered, you know, would be available to the scientific community.

KAYE (voice-over): Total transparency -- not one of BP's strong suits since the oil began leaking more than three months ago.

Randi Kaye, CNN, New Orleans.

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