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Recession is Over?; Fighting the Flames in Utah; Hurricane Igor Batters Bermuda; BP Permanently Seals Oil Well; Talking Points for Parent/Teacher Conferences

Aired September 20, 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: Live from studio 7 at CNN World Headquarters, the big stories for Monday, September 20.

Hurricane Igor's roaring winds and crashing waves side-swiped Bermuda. Tourists-turned-CNN-iReporters venture out today to see the damage.

African-American families struggling to close the every-widening wealth gap with white America. A study says the divide has increased fourfold since the Reagan era.

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: You work, you save.

(END VIDEO CLIP)

HARRIS: Location, location, location. Chinese firms snapping up offices in a south-facing office tower. It's all about the positive energy of feng shui.

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: As we do more international business, not only are Asians coming to this country, but people in this country are realizing the value of a time-honored tradition.

(END VIDEO CLIP)

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

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

Breaking news now. The recession is over. So says a group of economists tracking it.

Let's get straight to Poppy Harlow in New York.

Poppy, I've got to tell you here, it doesn't feel like the recession is over for a lot of folks in America right now, particularly if you don't have a job right now.

POPPY HARLOW, CNN.COM: That's exactly the point, Tony. I mean, news flash: the recession is over. We certainly don't feel like it's over, but this is breaking news, important news, because this comes from the only group in this country that can actually say we are officially in a recession and we are officially out of a recession. It comes from a group called the National Bureau of Economic Research. It's sort of the biggest nonprofit group of economists in this country.

They've been around since the '20s, and they declared back in 2007, December of that year, that we were in a recession. They said it began then. They didn't tell us that until a year later.

Well, now they're telling us the recession ended in June of 2009. So more than a year ago.

And you have to say, well, why does it take so long? They take a while to come out with these numbers so that they can pore through all the economic data, make sure it looks like that.

Now, this is being called the "Great Recession." That is, Tony, because officially now, it lasted 18 months. That is the longest recession we've seen in this country since World War II, and really since the Great Depression.

Now, many people would say, well, it feels like we had a downturn. Here's why.

In June, 2009, when apparently the recession officially ended, our unemployment rate was 9.5 percent. Right now, Tony, our unemployment rate is 9.6 percent.

So not only did the situation not get better from an unemployment standpoint, it actually got a bit worse from an employment standpoint. That may be more people coming in the workforce looking for jobs, but overall the job picture hasn't improved. Tony, overall, the housing picture hasn't really improved, nor has the consumer spending picture.

So, officially an end to the recession in June, 2009, but most American families are not feeling like that at all -- Tony.

HARRIS: And just to bottom-line this, this is all about a bunch of economists with this nonprofit technically scoring this period in time here.

HARLOW: Right.

HARRIS: This is not about or even taking into account consumer sentiment on the issue at all, right?

HARLOW: Not at all. This a group of economists that came together. They had a meeting yesterday. They made this decision yesterday.

But I want to point something out.

HARRIS: Sure.

HARLOW: They issued this long report that I've sort of scribbled all over here, but they talk about the fact that -- they say here, "The committee decided that any future downturn of the economy would be a new recession." So there is the chance that this group could come out in a few months, in a year, and say, we thought the recession ended in June 2009. It looked like it took another downward turn. That could mark the beginning of in new recession.

That's what you've heard so many people referring to as a double dip.

HARRIS: A double dip, yes.

HARLOW: Most economists surveyed by us at CNNMoney don't think that is going to happen, but obviously there's a continued slowdown. The employment picture hasn't gotten any better. And it's the job picture that matters to every single American family when they talk about whether or not we're in a recession or not. This technically speaking, not actually speaking, when it comes to the sentiment around the country.

HARRIS: And that's where we'll keep our focus, at least, on what Americans feel.

All right, Poppy. Appreciate it. Thank you.

Turning now to Utah, where crews report significant progress against a wildfire near Salt Lake City. Here is the latest on the fire in Herriman, Utah.

Officials say it destroyed at least four homes and has burned about 10,000 acres. Evacuation orders are still in place for about 5,000 homes. As many as 1,600 had been evacuated. The National Guardsmen practicing at a nearby firing range apparently sparked the fire.

On the phone with us right now is Herriman, Utah, mayor, Joshua Mills.

Mr. Mayor, thanks for your time. We appreciate it. Thanks for talking to us.

MAYOR JOSH MILLS, HERRIMAN, UTAH: Thank you.

HARRIS: If you would, give us an update on the efforts right now to contain the fire.

MILLS: You know what? The Unified Fire Department has gone out. They worked tirelessly last night to build through fire lines, and suppression techniques, pulling back the brush away from the houses.

And we went up in a helicopter this morning to get a bird's eye view of the area, and there's actually places where the fire has come up to the fences of homes, and the firefighters were able to battle it and save those homes. And so they've done a great job throughout the night and throughout this morning to really get a control on the part of the fire that's really affecting the area closest to the residences.

HARRIS: What does significant progress mean? Your crews are reporting significant progress. What does that mean? MILLS: Basically, like I said, about getting control of the fire where it affects the residential area.

HARRIS: OK.

MILLS: There's still areas where the fire is burning up into -- basically back into the hill area, where it doesn't affect, you know, human life as much.

HARRIS: Got you. OK. All right.

Have the people there in your community heeded the evacuation orders? As you know, oftentimes people wait until the last minutes because they don't want to leave their homes and the contents behind. But are people heeding the evacuation orders?

You know, predominantly they have. There have been a few I guess standouts. The police department said they weren't going to force anyone out of their homes, but they went to -- they went door to door evacuating the homes, and they had some negotiations with some individuals to encourage them to evacuate.

But predominantly, people were interested in getting out and getting their precious things and taking them with them, you know. But people understand, you know, a home's a home, but it can be replaced. There are some precious things --

HARRIS: Yes, save your life. Absolutely.

MILLS: Right.

HARRIS: You know, I'd imagine the Utah National Guard is pretty sick about this. We understand the fire was started during a training session with a machinegun at a range.

How is the Utah National Guard helping you manage the situation right now?

MILLS: You know, they've been here -- the fires happen. We border what is Camp Williams, the Utah National Guard camp, and they have fires there several times over the summer. Most of them are caused by lightning. And they have great fire suppression over there, and so they are on top of things all the time.

This, I guess they got on top of it yesterday and thought that it was pretty well taken care of until the wind kicked in and started pushing it our way. And so they have been putting bulldozers to make the fire lines, and all of their -- all of what they have available fighting it from the other side. So they have been a great partner.

HARRIS: OK. But here's the question, though, and I think maybe a lot of the folks in your community would be curious to the answer to this one. Should your unified fire authority have been contacted earlier? I mean, earlier than, what, the three and a half hours it took for reporting on this incident? Does the National Guard explain the delay? MILLS: You know what? The National Guard, we had a press conference earlier, and he said that -- their PIO -- he said that they -- in hindsight, yes, they probably should have contacted the Unified Fire sooner, but hindsight's 20/20. And so -- yes.

HARRIS: Yes, absolutely. Yes. Well, at least they're being honest about it, and they should have reported it earlier.

Mayor Mills, appreciate your time. Thank you.

MILLS: Well, thank you.

HARRIS: Yes, our pleasure.

A community says thank you to its firefighters. They battled the most destructive wildfire in Colorado history. The blaze near Boulder destroyed more than 160 homes, but no lives were lost.

Yesterday, residents held a parade in honor of the firefighters who fought to protect them and their property.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: I was like, yes, our stuff is OK. And the fire could have hit our house if there was no firefighters.

UNIDENTIFIED MALE: It's an amazing feeling. You know, after last week, when no one was here, you could say (ph) we all evacuated. To see the community out today, I know it means everything. To me, I didn't lose anything in the fire, but to the ones that did, it's got to mean a lot.

(END VIDEO CLIP)

HARRIS: Bermuda was spared a direct hit from Hurricane Igor, but the island paradise still took quite a lashing.

Our own Reynolds Wolf was there throughout.

And Reynolds, good to see you this morning. How's it going for islanders this morning?

REYNOLDS WOLF, CNN CORRESPONDENT: Well, I'll tell you what, right now if someone were just waking up and they had been asleep for the past couple of days, they'd be waking up to a tropical paradise. it looks just fine for the time being in terms of the sky conditions.

The weather is actually quite pleasant, but we've got the video to show you what happened just about 24 hours ago. Let's go right to it and show you the worst of the storm coming through.

It really began to intensify, Tony, especially late yesterday afternoon through the evening hours. And by midnight and into early morning, the power of the storm truly reached its zenith.

Now, this storm, thankfully, did not really intensify. It was only a Category 1 when it came just to the west of the island, but still, it caught that northeast corner of the storm, that right-front quadrant. It really lashed the coastline with some incredible winds, some pounding rain, some surf that was unimaginable, how big some of these wave happened to be.

This morning we were able to get out here at Elbow Beach and look at the property, the resort property. We also spoke with the general manager, and he was very happy, thankful for what he was able to see.

(BEGIN VIDEO CLIP)

FRANK STOCEK, ELBOW BEACH RESORT: I'm happy. On a quick cursory inspection, looks like minimal damage, a couple little dividers down here and there. The beach erosion is a little intense down there, but as you can see, we've still got lots of beach. Compared to Fabian, this is a good outcome.

(END VIDEO CLIP)

WOLF: Now, he mentions Fabian. I've got to tell you, Tony, that Bermuda was actually founded back in 1609, and Hurricane Fabian, which struck here in 2003, remains one of the worst in this area's history, a terrible storm that came through.

That hurricane was very powerful. It caused four deaths, untold damage across the island. In some locations, it took up to three weeks to restore power.

Now, at this hour, where we happen to be, thankfully there are no fatalities, certainly no injuries. That's the best news of all.

Bad news, though, the island is strewn with broken branches. There are roadways that remain blocked. The causeway that leads out to the airport is still closed at this time, and power outages for the 67,000 people that call Bermuda home, two-thirds without power.

HARRIS: Yes. A lot better than what we feared though.

All right. Reynolds Wolf for us.

Reynolds, good to see you, my friend. Thank you.

And more incredible images from some of our iReporters. Take a look at this.

Harlean Saunders-Fox took this video as the hurricane was closing in yesterday afternoon. And look at how fierce those winds are there.

And talk about pounding surf, I think we've got some images here that show that for you pretty vividly. Jaymee Larrison is a kite surfer who also lives in Smith's Parish, and all she could say was, "Wow!"

One more here. Nigel Richardson said, "The high winds and rain made it tough to get around the south shore. The beaches were, in a word, 'crazy."

And where will Igor go next? Bonnie Schneider tracking weather for us.

Bonnie, good to see you.

BONNIE SCHNEIDER, CNN METEOROLOGIST: Good to see you, Tony.

Now, Igor is still a hurricane, a weak one. But it does produce right now some very strong gusts at 85 miles per hour, maximum winds at 75.

Notice the storm is breaking down a bit as it works rapidly to the north-northeast, at 24 miles per hour. So the storm is on the move and it's tearing down a bit as it comes over some cooler waters.

We're also watching Julia, not much of that storm right now. Plus, we'll take a look at what's going on with the fire threat out West.

That's coming up, straight ahead on CNN NEWSROOM.

(COMMERCIAL BREAK)

HARRIS: "CNN, Your Home for Politics" and "The Best Political Team on Television."

Forty-three days until Election Day, and South Carolina Senator Jim DeMint is warning the GOP it must follow through and cut spending or the party is over. DeMint is bucking the Republican establishment by backing candidates favored by Tea Party activists.

(BEGIN VIDEO CLIP)

SEN. JIM DEMINT (R), SOUTH CAROLINA: I'm just talking about commonsense people who don't think balancing a checkbook is a radical idea. And that's what we're looking for now, because the people in Washington have clearly gotten out of control in both parties.

When you have $13 trillion in debt, you have got a big problem. That's what America is asking for right now.

But I came into the Senate in the majority, Candy, 55 senators, a large majority in the House, Bush in the White House. And Republicans didn't do what we said we were going to do. We spent too much, we borrowed too much. And frankly, if we get the majority again, even it's just in the House, and we don't do what we say, I think the Republican Party is dead.

(END VIDEO CLIP)

HARRIS: Democratic Party chairman -- boy, those were strong words -- Tim Kaine argues Republicans are simply not serious about debt reduction. If they were, he says they would let the Bush-era tax cuts for rich Americans expire instead of fighting to keep them.

(BEGIN VIDEO CLIP)

TIM KAINE, DNC CHAIRMAN: What the Republicans want to do is extend these tax cuts, make them permanent to the wealthy. And the CBO has estimated that would double the deficit projections going forward for the next couple of decades. This is from a Republican Party that's been griping about deficits.

What I think that Democrats have been doing -- that number that you mentioned has been talking about some kind of a temporary extension for those at the top end. Obviously, this is going to be a hot debate in Congress between now and the end of the congressional session, but there isn't any reason why if everyone agrees that the tax cuts should go to the middle class and small businesses, we can make that happen.

(END VIDEO CLIP)

HARRIS: Let's do this -- let's look a bit closer at plans for the tax cuts and how they might affect you personally.

Josh Levs has been crunching the numbers for us.

Good morning, Josh.

JOSH LEVS, CNN CORRESPONDENT: Hey, good morning to you, Tony.

And what we were just hearing there really is true. We have no idea how this battle is going to play out. There's so many months ahead, and there's this November election in front of us. And let me show you the latest right now that's coming from a group of economists that CNNMoney actually -- we've reached out to some of these leading economists, and 60 percent of these economists, when given a list of options, what should you do help the economy right now?

Sixty percent said extend tax cuts for all taxpayers, including the wealthy. Out of 31 that were surveyed, 18 said the number one thing you should do is extend for all taxpayers.

Now, at CNN Money, there's more details on the Web site. And you can see where they're coming from. There will be more surveys in the future, but the idea here is you have some Democrats and economists saying that they think it's a good idea to extend even for the wealthy, and others saying, hey, you've got tackle the debt.

Let me do this -- I'm going to show you some examples of how some individuals out there would be impacted based on what happens with tax cuts, and this means we get to visit again our favorite friendly neighborhood avatars.

HARRIS: Ah, yes.

LEVS: And then I'm going to show you how you can find out for yourself how any of this might impact you. So let's take a look right here.

We're starting off with what a group called the Tax Policy Center says is the middle of the middle in America. When they look at middle income for a couple, they're saying that $57,000 is the middle income.

Right now, if they're paying about $3,400 in taxes, if those cuts were to go away, they would paying $2,000 more in taxes. Now, that's a lot more from this couple. But everyone wants to leave those in place. That's even true for a couple making what the tax policy center says is a high income. If they're making $106,000, paying about $9,000 in taxes, it would go up to over $12,000. But again, that would stay in place as long as Congress actually does something. I mean, they haven't actually extended these tax cuts, but we can all assume that at some point they will extend tax cuts for these brackets.

This is where you get into the wealthier ones. So, they're making a lot of money here, up near $400,000.

We plugged in some numbers. If their taxes were about $102,000 right now, and if President Obama's plan were to come into play, then you would find them paying about $6,000 more in taxes every year, $108,000.

And finally, we're going to take a look at the millionaires. Big buzzword of this debate, "millionaires," holding on to their money. Check, out the pic, Tony. You're going to love what the graphics folks did. They hooked them up with some bling, some kind of fancy bag, dropping some cash around the streets.

If their income is way up here, $1.75 million, and their taxes right now are at $573,000, if the president's plan were to come into place, look what happens to their taxes. Suddenly, ,they are paying another $70,000 every year in taxes, and this is an example here of where we're getting into in the debate.

Do you leave that extra money in the hands of private folks who might then spend it, might invest it, might use it in some way, keep moving the economy? Or do you give it over to the government to actually pay for some of these programs we have going, do something about the debt and the deficit?

And everyone out there, I want you all to know that you can do this yourself. Take your information -- it's incredibly complicated, because taxes are, which is why I really like this. It's the Tax Policy Center Web site.

They give you all sorts of options. You just plug in your income, basic information. Do you have kids, anyone going to school? It will show you under different scenarios exactly what would happen to your taxes -- Tony.

HARRIS: That's great. I want to see the pie chart again. Can I see the pie chart again?

LEVS: Yes, let's go to that real fast.

HARRIS: And this was worked up by our friends at CNNMoney.com?

LEVS: CNN Money itself.

HARRIS: Sixty percent, right, of the economists interviewed. How many economists?

LEVS: Thirty-one were interviewed. Eighteen 18 said the number one thing they believe you should do is extend tax cuts for all taxpayers.

HARRIS: I want to know for how long. I want to know for how long, and I want to know what the economists that we interviewed, what their view is as to whether or not extending the tax cuts for however long a period of time would add to the deficit. That's all I want to know.

LEVS: I do too, but also, I have a lot of questions for them. And I'm also going to tell you as someone who did the Stimulus Desk for a long time, keep in mind, you know, we also have a government that said it made sense to spend $862 billion on a stimulus which is going to give us a trillion dollars in debt with interest. So the idea that we're extending our deficit to try to get out of the economic hole we're in, not brand new there.

HARRIS: OK, Josh. Appreciate it. Thank you.

LEVS: You got it.

HARRIS: Saving and investing, it is not even a topic for discussion in many African-American households.

Stephanie, is that true?

Stephanie Elam breaks that down.

(COMMERCIAL BREAK)

HARRIS: Amassing wealth in America. I've got to tell you, there is a huge gap -- and we all know this -- between white and black families. However, there are exceptions.

Stephanie Elam discusses it with a family in Maryland.

(BEGIN VIDEOTAPE)

STEPHANIE ELAM, CNN BUSINESS CORRESPONDENT (voice-over): Chris Rock has joked about black people and their money.

CHRIS ROCK, COMEDIAN/ACTOR: Shaq is rich. The white man that signs his check is wealthy. Wealth is passed down from generation to generation.

ELAM: There's a sad truth in his humor. Studies show black people tend to chronically make less, save less and pass less money on to the next generation than their white counterparts. And if you don't have assets, you can't pass them on.

FAMILY: God bless lord our daily bread, Amen.

ELAM: Marvin and Kathy Dickerson are making sure their family doesn't follow the same pattern.

KATHY DICKERSON, PLANNING FINANCES: One or two bad moves and it's going to follow you.

ELAM: Married for nine years the couple started planning their finances well before welcoming 6-year-old Kaylin and 3-year-old Miles.

UNIDENTIFIED MALE: And how is this a fair fight?

MARVIN DICKERSON, IT CONSULTANT: We knew we had to invest because we knew one day we were going to have kids. And we wanted our kids to have more than what we have.

ELAM: The Dickersons developed a budget, paid off their debt, began investing and set up a will, a trust and 529 Plans to pay for their kids' college educations.

M. DICKERSON: We can pass that wealth or those assets on to our kids with a $1.5 million tax exemption.

ELAM: But this family is the exception. According to the Brookings Institution, the median net worth of black Americans is about $28,000 compare that to $140,000 for the median household nationwide.

ELAM (on camera): What were your parents saying to you to make sure that it was so important that you knew it?

K. DICKERSON: You work, you save.

ELAM: While Marvin is a spender, Kathy is a saver so the couple makes all big financial decisions together.

M. DICKERSON: Kathy had this guiding principle. If she spent $100 she got a headache. As we got married and had more resources you can add another zero. It was like a few thousand dollars.

Valerie Coleman Morris who focuses on financial literacy for women, young people and people of color points to a couple of reasons black Americans are so behind in creating wealth and passing it on.

VALERIE COLEMAN MORRIS, AUTHOR, "MIND OVER MONEY MATTERS": Money is still a very much off limits topic in the average family. But in African-American families it's almost taboo. The second thing is 401(k). We are not participating. When we do participate, we're contributing far less than most other people.

But in addition to that, there is this overwhelming need for becoming more financially literate. And we aren't.

ROCK: I'm not talking about rich, I'm talking about wealth.

ELAM: But it's more than just talk for the Dickersons. It's a way of life.

(END VIDEOTAPE)

ELAM: And you take a look at what Chris Rock is talking about there, Tony, and it really does ring true for a lot of people. A lot of families are just not talking about it.

And so we need to see more of an ownership here and more of dialogue within the black community on how to make sure that they have assets and that they're taking part of all the things they need to, to make sure that they have something to leave on -- to make sure we have something to leave on to the next generation -- Tony.

HARRIS: Yes. Well, but, Stephanie, you've got to have the money to have the conversation, and if the average black family is making $28,000, that's not a lot of money. There's not a lot you can do with kids.

ELAM: It's scary.

HARRIS: And that's the low end of what we consider middle class here in America.

So, is the suggestion that even at that level, we can do better than what African-American families have done traditionally?

ELAM: Well, part of the issue here is you've got a few problems here, Tony.

For one thing, the unemployment rate in this country -- I know we just heard that we're out of a recession, but for black Americans, recession or no recession, the unemployment rate is always at recessionary levels. The unemployment rate is 50 percent higher for blacks than whites regardless of your education level. So that shows you how big of a problem is there.

There's also a lot more part-time workers within the black community, which means they don't have access to 401(k)s. And for those black folks that do have access, there's less of them that are actually taking advantage of them.

So there's more saving that needs to happen here, more dialogue. But for the poorer families in this country, they don't have more money to put away to savings, whereas the more money you're bringing in, the more likely you are to save a percentage of that.

HARRIS: Yes.

ELAM: So we need to see a shift here in how this is being addressed, but we also need families to talk about it. And as Valerie Coleman Morris said to me when I was chatting with her about this, families can either talk about it now or they'll fight about it later, and that's something that pertains to everybody, whether you're black, white, Hispanic.

It doesn't matter. You've just got to have these discussions and be prepared. But black folks, we really need to do better.

HARRIS: Yes. And get the skill set so that you can increase your learning and earning potential. That seems --

(CROSSTALK)

ELAM: And talk about it with your kids, too. Talk about it with your kids. Let them know that there's a difference between needs and wants. And we don't always do that. HARRIS: I'm with you on that. I'm with you.

All right, Stephanie. Good to see you. Thank you.

And if you think there is less in your house hold piggybank, black, white, Asian or Hispanic, well, you're right about that. Our Alison Kosik has that report at 11:50 from the New York Stock Exchange.

Fighting a financial crisis from the pulpit. The black church has fought for civil and human rights, and now it is waging a war on debt. "Almighty Debt," a "Black in America" special coming on Thursday, October 21st at 9:00 p.m. Eastern, only on CNN. (COMMERCIAL BREAK)

HARRIS: We see this every time a hurricane closes in, people heading to the surf. I guess we understand it, but, man it is a little dangerous, right? They just can't let go of those big waves. You don't want to let them go to waste. I get that, but look at this. Be careful.

Our iReporter Jamie Larsen (ph) caught these folks trying to kite surf in Bermuda. That was yesterday with hurricane Igor just offshore, really. Instead of riding the waves, most of them were tossed all over the place.

(WEATHER REPORT)

HARRIS: Our Monday focus on fixing our schools, what to expect when meeting with your child's teacher. Boy, this is a big one. A principal educates us on preparing for parent/teacher conferences. That's next in the CNN NEWSROOM.

(COMMERCIAL BREAK)

HARRIS: Let's see here. Fix our schools. Those three words driving much of what you see on CNN every Monday during this hour because as America's children return to school, CNN has a mission to document the nation's education crisis. Most importantly, we are shining a light on success stories that can empower us and offer our children so much more than what they are getting right now.

Today our focus is on the empowered parent. Things you can do to improve your child's education. And our guest is going to talk about how to get the most out of a -- boy -- potentially tricky engagement here, the conference with the child's teacher.

Shannon Flounnary is principal of Stonewall Tell Elementary School. Shannon, good of you to be here with us.

SHANNON FLOUNNARY, PRINCIPAL, STONEWALL TELL ELEMENTART SCHOOL: Thank you for the invitation, Tony.

HARRIS: Walk us through this. When we walk into that classroom for that parent/teacher conference, you know, it can be a little anxious.

FLOUNNARY: It can. HARRIS: A little anxious moments here. Should we expect as parents that the teacher will lead that conversation or are we expected to lead that conversation with our child's teacher?

FLOUNNARY: Well, I think, for the most part, it is the expectation that the teachers will, in fact, lead that.

HARRIS: Good. Because that's what I'm thinking when I walk - OK.

FLOUNNARY: When parents come in, they're looking to teachers for answer. However, there are some things that parents need to be aware of going into the conference specifically. But I do think it's incumbent upon us as educators to make sure that we provide parents prior to the conference certain information.

We actually become educational partners with home. So when we provide parents with information, information should be very specifically in terms of what our curriculum is. At the end of this particular marking period, I expect your child to master what specific standards. What do I expect of them and we have to be very, very clear about that.

HARRIS: Let me pick up on that note you just mentioned a moment ago. You mentioned to me that what we want here is a positive home/school relationship.

FLOUNNARY: Correct.

HARRIS: You touched on it just a second ago.

Give me a little more detail on that.

FLOUNNARY: Yes, I think we've learned from the entire effective school research from decades ago that there is a statistically significant relationship between home, community relations, and student achievement. Additionally, core proposition number one for the National Board for Professional Teaching Standards says that teachers are committed to students in their learning.

In order to create that home/school relationship, we are sharing with parents what we have found about students. So when we call them in, we don't always want to call them in just because there is something not happening with their child, either academically or behaviorally.

Often, traditionally if you get a call from a teacher, oh, my God, I got that call from the teacher, I have to conference. What have you done? So we have to put ourselves in a position such that, when we make that call to the parent and invite them in for a conference, we want to share good things, as well as not so good things to make sure that we have an ongoing relationship.

HARRIS: Nice. Love it.

One of the questions that the parents should be prepared to answer is, what motivates your child? And why is that an important question? What is the teacher looking for in asking that question? What kind of feedback?

FLOUNNARY: Well, specifically, parents know their children a lot more than we do as educators because they've given birth to them, they have raised them. But while the child is with us, we become their parents. So we are looking for information in terms of, if I have certain practices in my classroom, if I'm a stern disciplinarian, that may work for 95 percent of the kids. What about that one child that will just shut down if I'm overly firm with that child? We need to know information. I may be firm but with that child I may have to address him or her in a little different manner. This is why we have to establish those relationships. So we know when you're providing us with information.

HARRIS: You also tell us that we should, as parents, be open to surprises in the conference process. And be open to the conversation going in different areas than you might have anticipated?

FLOUNNARY: That is correct. Even though we come with a pre- conceptionalized idea of these are the things that we want to ask in this particular conference, we don't want to limit ourselves in a box because in that conversation there may be situations that the conference leads us into other areas and the parent will say, oh, I had no idea. Or sometimes it works just the opposite. Parents will provide us with information and we may say, oh, my goodness, I had no idea. This will be a better way to meet that child's needs. So it's an exchange of information.

HARRIS: Here's a moment where the conference can go a little sideways. I want you to help us, guide us into making sure the conference stays on track.

The parent says something like, are there any deficiencies in my child's learning experience? Are we having any problems with my child meeting core lesson curriculum expectations?

How do we handle the moment when the teacher say, well, there is this matter of?

FLOUNNARY: Yes, that can be somewhat of a sensitive issue. No one wants to hear that their child is struggling academically, especially if it's to the point where the implications may imply specific services that may lead to implications of special education. We know there's an over-identification of special education especially amongst African-American males.

Again, we go back to that relationship building. It's been my experience that once parents understand that you want, similar to them, what's best for their child, it's a lot easier to get that point over a very tactfully manner, than, every time you hear from me as a teacher, I'm talking about something negative with my child.

So, again, it is based upon pre-established relationships. I can tell you, your child is having some issues. But more specifically, what are we doing as educators to be able to fill those gaps. That's the important part when parents feel that we are doing our part and we are educational partners. HARRIS: We've covered a lot of territory here. At a minimum, how much time should we anticipate in this parent/teacher conference setting to get all of this material covered? I mean, come on.

FLOUNNARY: You're absolutely right. There is not general guideline for that. It just depends on the nature of the conference, whether the conference is for the purpose of discussing disciplinary concerns, academic concerns. It is very child specific to be honest, Tony.

HARRIS: OK. Very good. We put up a sign that said 15 to 20 minutes. Does that feel about right to you?

FLOUNNARY: That feels right.

HARRIS: Shannon, good job, man.

FLOUNNARY: We can talk about this for an extended period of time.

HARRIS: Yes, but we can't today.

FLOUNNARY: OK.

(LAUGHTER)

HARRIS: Good to see you, Shannon. Thanks for your time.

FLOUNNARY: Thanks for the invitation, I look forward to coming back.

HARRIS: My pleasure. Don't go anywhere, stay here.

One group says the recession is over. What do you think? We're back in a moment.

(COMMERCIAL BREAK)

HARRIS: Paris Hilton gets a deal and dodges jail. The celebrity socialite and sometimes actress - yes, I guess so -- pleaded guilty to drug possession in Las Vegas just a couple of minutes ago. Hilton faces a $2,000 fine, community service and drug rehab. Police arrested Hilton in late August when about a gram of cocaine spilled from her Chanel purse.

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

Progress fighting a wildfire in Herriman, Utah. The governor says it may be out by the end of the day. It has burned about 10,000 acres and gutted at least 4 homes.

Hurricane Igor moving away from Bermuda. It clobbered the island this weekend with powerful winds and drenching rain. The U.S. is not in its path, but officials say it could trigger deadly rip currents along the east coast.

BP's ruptured well is finally dead. Five months after an explosion set off a disaster in the Gulf of Mexico, pressure tests over the weekend confirmed the well is permanently sealed.

(COMMERCIAL BREAK)

HARRIS: Time now for your CNN Equals Politics update.

CNN's senior Congressional correspondent Dana Bash is with the Best Political Team on Television. She joins us live from our CNNpolitics.com desk.

Dana, good to see you. What's crossing right now?

DANA BASH, CNN SENIOR CONGRESSIONAL CORRESPONDENT: Good to see you, Tony.

When I walk around the Capitol, you hear Republicans saying, you have to extend all of the Bush-era tax cuts because otherwise small businesses will be hurt. Democrats say, you can't do that because it will hurt the economy more. If you check out CNN.com/politicalticker, you will see a great story from our friends at CNNMoney giving a reality check, a fact check on that. Who's right, who's wrong. I know this will be a shocker. There are shades of gray in both arguments.

Second, want to talk a little bit more about the story we first reported last hour from our Congressional producer Deidre Walsh (ph) and me about the fact - this is on the ticker now - House Republicans, this Thursday, will unveil their agenda for governing, if they should get the majority. The thing to keep in mind here is that this has been one of the key missing ingredients if you talk to Republican strategists in their effort to take control because for the most part it has been vote against the Democrats. They are doing a bad job in the majority. This will give voters, they hope, on the Republican side, a better sense what they would do for voters if they would be in control of Congress.

Lastly, there is going to be a big vote tomorrow afternoon on the whole question of the Pentagon's policy on "Don't Ask, Don't Tell," their policy on gays in the Military. Lady Gaga is heading to the state of Maine today, Tony, she's going to hold a rally to try to pressure the state's two moderate Republican senators Susan Collins and Olympia Snowe because they are undecided about whether or not they will help give a vote -- and this is a vote just to get a bill that includes this onto the Senate floor. It's unclear if that will happen. It's a big question mark and she is trying to get involved even more than she has on this controversial issue - Tony.

HARRIS: All right, Dana. Appreciate it. Thank you.

Your next political update in an hour. For the latest political news, you know where to go: CNNPolitics.com.

The nation working its way back from the bottom. With word at the recession's official end, we'll look at what's happening with your income.

(COMMERCIAL BREAK) HARRIS: Let's get you to CNNMoney.com. A big day for CNNMoney.com. You just heard Dana mentioning a piece that's moved to the ticker, as well, so you could find this piece both places - CNNMoney.com and on the political ticker. Longest Recession Since World War II. Let's see. The great recession officially ended in June of 2009, but the question we keep asking this morning is how do you feel about that? Does it make a difference in your life? That official declaration that the recession is over?

Good news morning so far for stocks. The Dow was just up in triple digit territory. We're really close, 99 points. The Nasdaq is up, as well, up 24 points.

We have the official word. Right? The recession is over. And it ended in June of 2009. But most people still aren't feeling it. Here to explain is Alison Kosik. She's on the floor of the New York Stock Exchange.

Alison, if you would, first of all, good to see you, good morning.

Run through the numbers for us, if you would, please.

ALISON KOSIK, CNN BUSINESS CORRESPONDENT: It's no shocker that Americans have less money now that we are out of the recession. In fact, household net worth, it fell by $1.5 trillion from April through June. That's about a three percent drop and I'm talking about the money and the assets that make up your personal balance sheet.

So the question is, what took the biggest hit? No surprise here. Your investments, the value of stocks, your retirement funds, your mutual funds - that all fell. Exacerbating this, of course, is the unemployment rate. Millions of people are out of work. They don't have money coming into their households. Mortgage debt also dropped, not because it's good - not because they paid off their loans but because they lost their homes. Their homes fell into foreclosure.

But there is a positive side to this, Tony. Home values are inching higher ever so slightly. And Americans are cutting their debt. They're saving more. It's really becoming the new normal after being so burned during this recession people are learning to save more and really pay off their bills on time - Tony.

HARRIS: Yes. That is a bit of good news there. But the broader question, I guess, can we really bounce back here?

KOSIK: Analysts are being positive about this. They say, yes, the bounce back is going to be slow. In fact, we're already seeing it, though. The S&P 500 is already up about nine percent for the quarter. Keep in mind, your 401(k) mirrors the S&P so this is really good news. But we've got a long way to go to come back to the net worth that we had before it's recession. Before the recession we were at $65 trillion. Now we at about $53 trillion. It will take time to get back there - Tony.

HARRIS: Alison, appreciate it. Thank you, see you next hour.

KOSIK: Sure. OK.

HARRIS: Speaking of next hour a story so unsettling it can make you itch. Traveling bedbugs shutting down big businesses and office buildings. What can you do about them? Send us your thoughts to CNN.com/tony or you can Tweet us, right? And then there's our Facebook page. Find out more in the next hour of CNN NEWSROOM

The so-called Frankenfish moves closer to your dinner table. The FDA weighs in on genetically-altered salmon. We're back in a moment.

(COMMERCIAL BREAK)

HARRIS: It began with a bang five months ago and it has ended with a whimper. BP's ruptured Gulf oil well is officially dead. Engineers pumped cement under the ocean floor this weekend to permanently seal the well. The top seal came in early August. Cleanup continues.

(BEGIN VIDEO CLIP)

VOICE OF ADMIRAL THAD ALLEN, NATIONAL INCIDENT COMMANDER: It's going to go on as long as it takes to get the marshes and beaches clean. We have detailed plans that we've negotiated with the states and the parishes in Louisiana to determine, if you will, how clean is clean. And in some areas we're going to stay with this for quite a while. The marsh areas in Barataria Bay, for instance, down by South Pass still have oil in them and we still need to work on it. And some place we're going to have to negotiate when we agree nothing further can be done then we'll say that's it. But right now we're still at it.

(END VIDEO CLIP)

HARRIS: 11 workers lost their lives in that explosion.