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GM Roars Onto Wall Street; Chilean Miners Hit L.A.; Tuition- Free Classes Bringing Education to the World; 'Q&A' With Richard Quest
Aired November 18, 2010 - 14:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ALI VELSHI, CNN ANCHOR: Less than 18 months after government steered the sputtering GM into bankruptcy, it has given back the keys to private investors. It's earned the government about $12 billion in the process.
Here's a moment that your grandkids will read about.
That's GM's triumphant return to the New York Stock Exchange, the typical opening bell, followed by the revving of an engine. A ward of the state no more, the retooled automaker priced hundreds of millions of shares at 33 a bucks a piece. Drooling investors drove that up to 35 buck a piece before the bell rang.
Now, even if you're not one of them and you couldn't care less about cars, you have a stake in this business. This time yesterday, you, the United States taxpayer, owned almost 61 percent of the company. Canadian taxpayers, GM retirees and former creditors owned the rest.
Now, look at the pie today. You and I own just a third. The Treasury sold more than 400 million shares, earning back a chunk, but not yet all of our investment. Five percent of the shares are set aside for GM workers, dealers and retirees.
This morning, GM's partner in China bought one percent. GM, by the way, expects to sell more cars in China this year than it does in the United States. The rest of the company belongs to other investors, large and small alike.
Now, between loan repayments and stock sales, GM now has made good on roughly $22 billion of the $50 billion that the old GM received to see it through bankruptcy. Old GM, by the way, has a lot of history.
That company was founded in 1908. By 1954, its market share was 54 percent, by far the biggest car company in the world. The same year, it produced it's 50 millionth vehicle.
In 1970, GM had 395,000 union employees. That's an all-time high. Those were the good times.
In 1980, its market share was 45 percent. It lost money for the first time in half a century. By 1990, its share shrinking down to 35 percent. And that year it signed a ruinous contract that paid union workers whether they worked or not.
In late 2008, it received it first installment of government aid.
In 2009, racked with debt and losing money on every single car it produced GM, drove into bankruptcy.
Joining me here in New York with more on GM's turnaround, my partner on "YOUR $$$$$," Christine Romans.
A bit of a car -- we both like cars.
CHRISTINE ROMANS, CNN BUSINESS CORRESPONDENT: Sure do.
VELSHI: You know how to tinker under the hood a little bit.
ROMANS: I do what a little?
(LAUGHTER)
VELSHI: I said "tinker," tinker under the hood a little bit.
Boy, what a story this has been. We've seen this go from this great company that we saw shrinking and getting smaller and making bad decisions into the unbelievable 18 months ago. I mean, I remember the night you and I were on TV together when it happened. This company had gone bankrupt.
ROMANS: And General Motors used to be, as goes GM, so goes the nation. And then, suddenly, GM became Government Motors, and suddenly, this once this very powerful symbol of American prowess after World War II was decimated.
VELSHI: Yes.
ROMANS: A big question here is, when do taxpayers get their money back? Because American taxpayers don't like to have to bail people out. They don't like to have to bail something like GM out, which, ironically --
(CROSSTALK)
VELSHI: Right. Ironically, many American taxpayers were investors in GM separately because it was in every --
ROMANS: Right, your pension fund, your 401(k).
VELSHI: -- 401(k), right.
ROMANS: If you were not an employee of this company, or you were a customer of this company, you were an investor somehow in this company --
VELSHI: Yes. But now, by choice, you're an investor in this company -- by force.
ROMANS: By force you're an investor in this company. And so when will they be made whole? Well, maybe if the stock gets up to $55 a share. Then you would be made whole on your investment. That could take years. There's so many uncertainties.
But I also think this question of when will taxpayers be made whole is interesting, too, because we averted, according to the Center for Automotive Research, a million job losses.
VELSHI: Right.
ROMANS: So maybe that's what the whole bailout and the investment was all about in the beginning. Maybe that was --
VELSHI: And you weren't just paying for a car company --
(CROSSTALK)
ROMANS: That was the takeaway. That was the takeaway, and that's what taxpayers are buying.
VELSHI: Do you have hope for GM's future?
ROMANS: Well, I do. I mean, the fact that over the past 18 months it managed to turn it around like this -- I mean, granted with huge wage and benefit cuts for workers, big cuts to the number of people who work for this company, four fewer brands -- you know, goodbye Pontiac, Saab, Hummer, and the like -- I mean, what do you think?
VELSHI: Well, that Volt is impressive. It's not going to be the answer, but they do feel like a company that's back on a design and production emphasis.
ROMANS: It's predicting (ph) Green Car of the Year. I mean, certainly reporters really like this car, and people who have been out there taking a test drive of it.
Will this be the future of the company? I don't know. Will the future of the company be in this country or in China and Asia? I mean, already, it's selling more cars in China than it does in the United States, right?
VELSHI: Yes. That's right.
ROMANS: This is the beginning of a new part of the GM story.
VELSHI: Yes. Well, we'll follow it closely. We've been on it for long enough. No point in leaving it now.
ROMANS: Yes.
VELSHI: Christine, good to see you.
Christine and I will be on "YOUR $$$$$" Saturdays at 1:00 p.m. and Sundays at 3:00 p.m.
OK. These guys dominated the headlines for more than two months. Not by choice, but they captured the hearts of people around the world.
We have not heard a lot from those 33 Chilean miners since their dramatic rescue last month. Today, all 33 and five of their rescuers back in the spotlight, landing just a short while ago in Los Angeles. There they are, along with five of their rescuers.
They are the special guests of CNN. They will attend the "CNN Heroes" event on Thanksgiving night.
For most of the miners, this is their first-ever trip not just outside South America, but outside Chile. They flew from Santiago, made a quick stop in Atlanta, and then on to L.A.
You'll see them walking through the Atlanta airport. For the most part, these miners have been staying to themselves and their families since the rescue. But at least one has been very buys and active.
Edison Pena -- here he is crossing the finish line at the New York City Marathon on November the 7th, a miner who took daily runs in the area where they were trapped -- well, we're not really seeing him crossing that finish line, but one of them did run the New York City marathon. His accomplishments are amazing considering he was unable to train properly to run the 26.2 miles. He did it running, walking, and hobbling in a total of five hours and 43 minutes.
CNN's Gary Tuchman traveling with the miners, joining us now from L.A.
What a story, Gary. What a story. You saw these guys being pulled out of the mine, and now they are in L.A., going to a fun event.
GARY TUCHMAN, CNN NATIONAL CORRESPONDENT: Yes, Ali. It's really amazing.
Right now we're in downtown Los Angeles at the miners' and rescuers' hotel, where right now they're having some lunch. They're going to rest, and they're going to hit the town -- entertainment, shopping, sightseeing all over Los Angeles and southern California. And then they will go the taping of the Heroes extravaganza which we're very proud to host four years in a row now, and they are true heroes -- the heroic perseverance of the 33 miners and the heroism of the five rescuers who went down into the hole to get the miners out to make sure they were safe.
But we landed about an hour and a quarter ago here in Los Angeles, a four-hour flight from Atlanta. Before that, a nine-hour flight from Santiago.
So, the miners are tired, but they are exuberant and excited, and really happy to be here in southern California, happy to be in the United States. Because in most cases, they've never been outside of Chile.
Many of these people have never been on an airplane fight until last week. Last week we flew with them from Copiapo, where the mine was located, to Santiago, the capital, to get their visas at the U.S. Embassy. So this is quite a whirlwind of events, because as you said, Ali, five weeks ago they were in the mine, a half-mile underground, in the darkness, and now, Los Angeles, Hollywood, Beverly Hills.
And one of those men here, Roberto Rios. Roberto is a true hero, one of the rescuers with the Chilean Navy, went into the hole, the second man inside. Stayed down there 23 hours until each and every one of the miners came up.
Roberto, thanks for talking with us. Congratulations.
ROBERTO RIOS, RESCUER: (INAUDIBLE).
TUCHMAN: OK.
Were you scared? Honestly, were you scared to go down into that hole? I know you were trained for it.
He's been in the Chilean Navy since he's 14 years old. He's 34 now -- 20 years.
Were you scared going down there?
RIOS: No. I had training for about 20 years. And not scared, no. I was anxious to complete the mission and go out where the men are safe.
TUCHMAN: You told me that your wife though was scared, and that your wife was crying most of the time you were down there.
RIOS: Yes. She was a little scared when (INAUDIBLE) and I was down in the mine. She was really scared.
TUCHMAN: The entire time when he was down in the mine she was scared. But he has three children, and his two 8-year-old twins comforted their mother.
Didn't they?
RIOS: Yes. Yes. The twins, they supported their mother and supported her every time. Right.
TUCHMAN: Roberto just went to his twins' school a short time ago, and he was the hero at the school. They had a big assembly and banners, and he was very honored to go to the school.
Weren't you?
RIOS: Yes, sure. Like I told you before, I'm very happy to be here. And I really appreciate the invitation. And it's a lovely place. The hotel is amazing -- and everything. TUCHMAN: So you're in Los Angeles. You're going to go the Heroes show. You're going to see all the sights. Are you excited about this trip?
RIOS: Yes, sure. We're excited. It's my first time. For my wife, her first flight, too.
TUCHMAN: Her first flight.
RIOS: Sure.
TUCHMAN: Oh, it was your wife's first time in an airplane?
RIOS: Yes, sure. The first time. And she enjoyed every minute, every second.
TUCHMAN: You're a good man.
RIOS: Thank you.
TUCHMAN: And you truly are a hero, Roberto.
RIOS: Thank you so much.
TUCHMAN: Thanks for talking with us.
RIOS: Thank you.
TUCHMAN: I mean, that's the thing. Many of these people have never been on an airplane before. And when we landed in Los Angeles, everyone gave a great round of applause. Not only were they grateful to be on the ground -- it was a nice flight -- but they were grateful to be on the ground. They're also grateful to be here in southern California because they know they're going to have a great few days.
Ali, back to you.
VELSHI: Gary, you've covered a lot of stories in your life, and some of them are good and some of them are bad. This has got to be one of the strangest ones you've ever covered, because it seemed really, really bad, and then it got really, really good. And now you get to see these guys in another country, in another environment entirely, and these guys really seem like they are -- they are great spirits.
TUCHMAN: Ali, I have been at CNN for 20 years, two decades, and never covered a story like this one.
We were so scared standing 300 yards away from that hole watching the rescue effort begin, that not everyone was going to make it up alive. We just didn't know what would happen.
So grateful when all 33 came up. And now here we are on a trip where they're all so happy and they're with their families, they're with their lives, like Roberto. And they're with their mothers and fathers and children and brothers and sisters. And everyone's just having such a great time, and it could have ended so differently. And we're very aware and cognizant of that fact and so grateful it didn't end up in a bad way, but in this good way that it ended up.
VELSHI: Gary, good to see you, my friend. We will keep in touch with you on this.
Gary Tuchman in L.A. with those 33 miners, who will be guests at CNN Heroes.
As we mentioned, the miners will be on hand to see who is named the next CNN Hero. Be sure to tune in when CNN's Anderson Cooper hosts "CNN Heroes: An All-Star Tribute," 8:00 Eastern on Thanksgiving night.
All right. You can now get a college degree for free. No need to worry about student loans or grants at one particular university. And right now they are bringing tuition-free classes to Haiti.
I'll have details after the break.
(COMMERCIAL BREAK)
VELSHI: In "Chalk Talk" today, our guest wants to take the world to school. He wants to make a college education accessible to the world, even to those in the most underprivileged places. Right now he's focusing on Haiti.
Joining me via Skype is Shai Reshef. He is the founder and president of the University of the People.
Which has been around, Shai, for about a year now. And you've been offering tuition-free courses to people around the world? Tell me a bit about the University of the People.
SHAI RESHEF, FOUNDER & PRESIDENT, UNIVERSITY OF THE PEOPLE: Yes, that's exactly right. The University of the People is a nonprofit, online tuition-free university dedicated for people who graduate high school, can go to university, but cannot afford it either for financial reasons or because there aren't enough universities where they live, or for more many other personal reasons. And we offer them tuition-free university online. They can study for a BA in computer science and business administration, hopefully to improve their standard of living, their own life, their family life, their community life and their country's life.
VELSHI: They have to have a high school diploma. They have to be able to speak English. You've got about 2,000 professors, 700 students, and now you're moving into Haiti.
Tell me about this, a country we've been talking about with persistent homelessness prior to the earthquake, more so afterwards, people living in tent cities, dealing with cholera now, with limited food. Is college education sounding like a priority to many of these people? And what's the response that you're getting from Haiti? RESHEF: Well, I think that college is one of the most important things that this country needs, because the issue is that all of us, thinking about what's going on and how much they need food and clean water, et cetera, et cetera, but we keep forgetting that helping with all these things, as important as they are, they are short term. If we want to build this country, if we want Haiti to succeed, if we want this country to take care of itself, they need educated people. And we should start right now, make sure that we are going to have enough educated people, college graduates in Haiti.
One of the issues that the country has is that a lot of people who graduate high school and can afford going to the U.S., go to the U.S. and never come back. There is a huge brain (ph) drain in this country, and educating the people while keeping them there is one of the most important things that can be done to build -- to rebuild Haiti for a better future.
VELSHI: Is the infrastructure, Shai, in Haiti strong enough that it can support online education? Have they got the access to the Internet on a broad enough scale? Obviously, we're not going to be able to give online courses to people who are actually living in tents at the moment, but can they go somewhere else if they are high school graduates and can speak English?
RESHEF: Yes. That's exactly what we're doing.
Quite a few of our students here do live in tents, and they don't have electricity, no computers. In Haiti, unlike other places -- and we have, as you said, 700 students from over 100 countries -- in Haiti, we need to build a place to occupy with furniture, computers, electricity, back-up generators, Internet satellite connection. So we need all that to enable them to leave the tent, come for a few hours a day, study, and then go back.
So, it's very different, but, you know, if you want to operate here, that's the only way to do it. So that's what we're doing.
VELSHI: Shai, thanks very much for this conversation. I know you've done a lot of stuff like this in the past, so you're well equipped to do it.
What a great idea. What a great uplift to the world, to take education to people who otherwise could use it and want it, but just can't get it because of where they are in the world.
We wish you the best of luck, and we would like to keep in touch with you and see how this goes. Thanks for being with us today.
RESHEF: Thank you very much.
VELSHI: Shai Reshef is the founder and president of the University of the People, joining us -- he was, by the way, live via Skype from Port-au-Prince, Haiti where he's introducing university courses free of tuition.
Congressman Charlie Rangel facing his peers and his punishment. What's his penalty for his serious ethics violations? Find out the recommendation for what they should do with him coming up next.
(COMMERCIAL BREAK)
(NEWSBREAK)
(COMMERCIAL BREAK)
RICHARD QUEST, HOST, "QUEST MEANS BUSINESS": Time now for a little "Q&A" together in the CNN NEWSROOM and around the world.
Hello, Ali.
VELSHI: Hello again, Richard.
We normally tackle the top stories of global finance, innovation and intrigue. Today we're focusing on news of an upcoming royal wedding.
QUEST: Ah, I can feel your bosom swelling with pride at the royal nuptials, Ali.
Prince William is officially engaged to Kate Middleton. It's a story that's burning up the airwaves and the Internet around the globe, not just here in London.
But why is everyone so fascinated? Ali, I went first last week, so it's your turn first.
Sixty seconds on the clock.
(BELL RINGING)
VELSHI: All right.
Let me start by staying not everyone is fascinated by the royals. "The fascination with the royals is largely a media-created illusion," reads a post on my Facebook page. But I think the monarch remains relevant, and not just to Brits like Richard.
Elizabeth II is obviously queen of the United Kingdom, of Great Britain and northern Ireland. She is also queen and head of state of 15 other independent sovereign nations including Canada, Australia, and New Zealand. I like the idea of a head of state operating separately and independently from an elected government.
Sure, monarchies have created lots of trouble in the past. They have often acted as a unifying force for their politically, socially or religiously divided subjects in times of strife. And they serve as remarkable goodwill ambassadors to the world.
How much is that worth? Well, that's up to each country, although dodgy royal behavior doesn't help their dwindling cause. Nepal, by the way, abolished its monarchy in 2008, but as we've seen in the last few years, we can't always count on elected officials to do the right thing -- Richard.
QUEST: All right. Here we go.
And "The Voice" --
VELSHI: I'll remove my hat out of respect.
QUEST: Well, out of humor.
Here we go. [ (BELL RINGING)
VELSHI: The monarchy and -- "The Voice" -- rule Britannia. It's enough to get any true Englishman's heart just swelling with pride.
Yes, we have been fascinated by this royal event. But why?
I think the reason is because you have to be born to be royal. You can't just join the club unless you're married to it. You actually have to be born into it. But that's not all.
Whilst there is glamour and, yes, you get your face on a teapot or a teacup, there is duty as well, decades of duty in the terms of the queen, who next year celebrates her Diamond Jubilee.
Ultimately, though, being royal is all about having that little bit of extra that none of the rest of us can ever have, and that's what attracts us to this family. And in the words of the famous constitutional writer (INAUDIBLE), remember what he said -- "We must never let daylight into magic."
(BUZZER)
VELSHI: I didn't think music was allowed, but -- and it can stop any time now.
Nicely done, Richard. But now it's time to find out who knows what about something.
Time to introduce "The Voice."
Hello, Voice.
UNIDENTIFIED MALE: All right, my noble, knowledgeable (INAUDIBLE). This week we delve into all things royal.
Last week, Richard, you took the crown, winning the quiz.
But, Ali, keep a stiff upper lip. Given the topic, you've still got a chance, no matter how slim it may seem.
Gentlemen, gray matter at the ready. Here is your first question.
What is the world's oldest continuous monarchy? Is it A, Japan; B, England; C, Denmark; D, Monaco?
(BELL RINGING)
UNIDENTIFIED MALE: Which is it, Ali?
VELSHI: I say it is Denmark.
(BUZZER)
UNIDENTIFIED MALE: I say you are wrong.
Richard?
QUEST: Well, the question is, is it the chrysanthemum of Japan or England or Monaco? I am going to go Japan.
VELSHI: Japan. Go Japan, yes.
(BELL RINGING)
UNIDENTIFIED MALE: Richard Quest is correct. It is indeed Japan.
Japan's imperial dynasty is believed to have started in 600 BC. Way to go.
Next, in the question queue, according to "Forbes" magazine, which "The Voice" has never read, by I do love "OK!" magazine -- very saucy.
According to "Forbes" magazine, which royal is the world's richest: A, Queen Elizabeth; B, Sultan of Brunei; C, King Adulyadej of Thailand; or D, King Abdullah of Saudi Arabia?
(BELL RINGING)
UNIDENTIFIED MALE: Richard Quest?
QUEST: Well, I'm going to go with Abdullah of Saudi Arabia.
(BUZZER)
UNIDENTIFIED MALE: And I'm going to go with wrong.
Ali?
VELSHI: Sultan of Brunei.
(BUZZER)
UNIDENTIFIED MALE: Wrong!
Richard Quest?
QUEST: Oh. Then it -- I mean, it can't be the queen of England, so it must be Thailand.
(BELL RINGING) VELSHI: It can't be, no.
UNIDENTIFIED MALE: Correct.
The Adulyadej's family fortune is estimated at around $30 billion.
Two for Richard Quest.
OK, final question. Reputations will be celebrated or (INAUDIBLE) based upon who gets this one right or wrong, so no pressure.
According to the Recording Industry Association of America, which artist sold the most albums? And please do take notice of how our crackerjack graphics team has oh so cleverly crowbarred (ph) royalty into each choice below.
(LAUGHTER)
UNIDENTIFIED MALE: So, who sold the most albums? Is it A, Queen; B, Prince; C, Elvis, "The King"; or D, Michael Jackson, "The King of Pop"?
(LAUGHTER)
VELSHI: What an excellent question, Voice. I'm going to go for it.
(BELL RINGING)
UNIDENTIFIED MALE: Ali?
VELSHI: Michael Jackson.
(BUZZER)
UNIDENTIFIED MALE: Wrong.
Richard Quest?
VELSHI: He's going to win. He's going win.
VELSHI: Well, it could be, oh --
VELSHI: Say it. You know what you're going to say. Just do it.
QUEST: I'm going to say is it Prince or is it Elvis? All right. Let's go with Elvis.
(BELL RINGING)
UNIDENTIFIED MALE: It is Elvis!
QUEST: Yes. UNIDENTIFIED MALE: Elvis' album sales are said to be more than a billion dollars. Michael Jackson brings up the rear, close behind it, number two.
Our winner this week, Richard Quest, takes the crown, while Ali is handed the scepter of defeat.
Until next week, Gentlemen, when question time returns.
VELSHI: Thank you, Voice. Good to see you.
QUEST: That will do it for this week. Remember, we're here each week Thursday on "QUEST MEANS BUSINESS," 1900 G --
VELSHI: And in the CNN NEWSROOM, 2:00 p.m. Eastern. Keep the topics coming on our blogs. CNN.com/QMB and CNN.com/ali. Tell us what you want us to argue about each week.
And Richard, you have a great one. See you next week.
QUEST: Have a good one, Ali. See you then.
VELSHI: Hey, I just want to bring you up to speed on a little bit of breaking news. That unemployment extension that we were talking in about the House has not passed. It has been defeated. I'll bring you more on that in just a moment. But that effort to extend jobless benefits and deadline to apply for them has failed in the House of Representatives.
Another European country is facing serious financial troubles. Is Ireland next in line for an EU bailout? A live report with Richard Quest coming up next.
(COMMERCIAL BREAK)
VELSHI: Time now for "Globe Trekking." Our first stop is Ireland. One Irish financial analyst says the country's debt crisis is so serious that Ireland is, quote, "in danger of falling off a cliff." The question right now is how will the Irish government -- will the Irish government be forced to accept a European Union bailed backout. Aresounding no is the response from the Irish government. Many other European governments fear that Ireland may be the next Greece. The struggle with that bailout back in the spring is still being played out.
Earlier, I spoke with Richard Quest in London. I asked him why those of us here in the U.S. should be concerned with Ireland's debt problems. Here's what he told me.
(BEGIN VIDEO CLIP)
QUEST: If one country goes down, or it becomes the market attack say, for example, Greece and then Ireland and then Spain or Portugal and onwards and upwards, it creates such ferocious instability in global markets. Whether it distorts bond yields on U.S. treasuries, it will distort the true value of the dollar. And because, remember, Europe now is almost as large as the United States in terms of trading value. And you can't have such instability, and that's what this is really all about. It's trying to pour oil on the troubled waters.
To mix my metaphors one more time, you're trying to put out the embers before the fire burns down the house again.
(END VIDEO CLIP)
VELSHI: Excellent description.
All right. What's worse than guests that stay too long at the holidays? Bedbugs. They're the focus of today's "Mission Possible." Very interesting story I'll have for you right after the break.
(COMMERCIAL BREAK)
VELSHI: All right. Time now for "Mission Possible," where we spotlight folks trying to make a difference. Today is kind of unusual but kind of genius. It's based on bedbugs, the gift that keeps on giving.
Infestations are being reported all over the country, including a fairly bad one here in New York. Bedbugs are a pain all the time. But imagine the stress they cause around the holidays, when folks want to have family and friends over. I mean, people are making decisions not to visit people. I read an article where people are breaking up in their relationships because one party has bedbugs.
Jeffrey White is a research entomologist , bug guy, with a Web site Bedbug Central. He had that idea that sparked taking a bite out of the holiday season, and he's here to talk to us it. Great to see you.
Bedbugs, first of all, if you have bedbugs can you get rid of them?
JEFFREY WHITE, RESEARCH ENTOMOLOGIST: Absolutely. It's a misconception you can't get rid of bedbug. There are good treatments out there. You definitely can get rid of them.
VELSHI: But it is onerous.
WHITE: Absolutely. It can be $600 to $1,200 or more. There's a lot of people out there who just can't afford that, no matter what day it is.
VELSHI: Is that just the treatment or is that fact that you have to wash and dry clean things and bag them and spend time outside of your house? How does this cost break down?
WHITE: Yes, it's definitely the cost in the treatment. A lot of other things go into it that don't cost money, but are a real pain, you know? Emptying your closets out, laundering all your clothes. If you've ever looked at your closet -- VELSHI: That's a lot of clothes. You never think of laundering all your clothes.
WHITE: Absolutely.
VELSHI: OK, so what are you guys doing?
WHITE: So, basically what we've done is we've created a charity called Taking a Bite Out of the Holidays, and basically it's a way to give back to the community. They can't afford these services, you know? What's worse than around the holidays having to worry about bugs coming out of your bed to feed on you? It provides people the chance to worry about what's important around the holidays. We've combined a bunch of pest control companies, bedbug-free companies that take a progressive approach to bedbug control --
VELSHI: What do you mean by progressive approach?
WHITE: Basically, they use not just pesticides. They're using encasements, they're using interception device, nonchemical approaches. A good approach to bedbugs And we use companies from across the country to provide services to people in need in their area.
VELSHI: How do people take advantage of that?
WHITE: Basically, you need to go to beddugcentral.com and apply. And, you know, if you're someone in need, go there. Get the application. Fill it out. Send it in. And hopefully we can find a provider in your area that can provide you those free services.
VELSHI: And then what do you have to do? If you can get the service, the provider will provide you free services. But I'll get a list of stuff you have to do.
WHITE: Absolutely. And your participation will definitely help that. We know the chance of getting all the bugs in one treatment is very difficult. It usually takes multiple treatments. And so, we're looking to really knock that problem down so people can think about something else, at least for a short time and hopefully help them get rid of their problem.
VELSHI: They are creepy little things. They're not all that serious. They are very annoying and you want them to get into your stuff. But they don't carry diseases and things like that.
WHITE: They cannot transmit disease, which is the one shining light. God forbid that day comes, which I don't know that it will, but if it does, wow, talk about hysteria then.
VELSHI: If you have bedbugs, and then you don't get bitten again, are they gone?
WHITE: Not necessarily. Not everyone reacts to bedbugs, actually. So, you could be bitten and not even know it. And so, typically, though, if you were reacting and the reaction stopped and you're not finding any bugs, that's a good sign that you might have gotten rid of the problem.
VELSHI: Right. You know, a lot of places where the bedbug infestation is greatest, particularly in places like New York, it's because we all live so close to each other. You're not -- can you do something to avoid getting bedbugs if you live in an apartment?
WHITE: There's no true prevention for bedbugs. But you need to know how not to bring them into your house. They have to go from one (INAUDIBLE) place to another. So, not bringing in discarded furniture. If you buy rented furniture, make sure that company does something to address those bugs. And if you're a frequent traveler, know how to inspect your hotel room and how to address your belongings when you return home. That way you prevent bringing them in in the first place.
VELSHI: How do you? Do you check them out? Do you look for bedbugs?
WHITE: Absolutely. Go online. Look at pictures. Know what they look like. I don't expect everybody to be an entomologist and know all the different bugs. But know what they look like. If you see them close to the bed, that's a warning sign. And you want to look around the headboard and usually on the bottom of the boxspring.
VELSHI: They are in wood and furniture and stuff, right? It's not just upholstery and your bedding.
WHITE: They hide very well. They are typically associated with where people sleep. But they can distribute in other areas. And so, inspections aren't always very reliable in terms of finding the bugs, and that's why we say that one of the more important things is addressing your belongings when you return home because they may have made it on the a suitcase. And you need to know what to do with that suitcase.
VELSHI: Man, you are frightening me. Jeffrey, great though. I'm glad you're doing this. When I first started looking into this, I thought, boy what an expensive thing for people who have a tough time to be faced with a cost that might be $500 to $1,000 to get rid of bedbugs. I'm glad you and other pest control companies got involved in this.
Thanks very much. Go to Bedbug Central. If you want more information on Taking a Bite Out of The Holidays program or just on bedbugs, head over to my blog, CNN.com/ali. I have a link to Jeff's site for you.
The president will try and get a jump on the START Treaty, pushing Congress to act quickly, but there's a lot of wrangling going on. Ed Henry, standing by to take us behind the scenes to tell us what this is all about, coming up next.
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VELSHI: It is time to talk to my good friend Ed Henry, our senior White House correspondent back at the White House. Ed, I tried to listen to you and not put you after cute little kids or people who grow 75-pound green peppers, so I led in with you with bedbugs. I hope that's suitable.
ED HENRY, CNN SENIOR WHITE HOUSE CORRESPONDENT: You stole my line. I was really excited about that. It's great, Ali. I think that's just a natural segue over to the White House. Talk about bedbugs and then go to me.
VELSHI: Let's talk - you know what/ I would say the White House should feel fairly happy today to see General Motors going public and raising around $20 billion, taking half of that monkey off their back.
HENRY: You're right. So happy that we're going hear from the president, his new information. He'll come out at 4:15 Eastern time here in the White House briefing room, and is going to talk about that. Because this is what the White House considers to be good news, not just for the country but for them politically. A chance for the president to tout the fact that - Robert Gibbs was just an off-camera briefing with us a couple of minutes ago, and flat-out called it an "I told you so" moment. Was saying, look, there were a lot of critics. And in fairness, he was saying not just Republican critics, but people in their own party saying this is a dumb idea. Why are you bailing out GM?
When you look at the numbers now, probably saved 1.4 million jobs. In the end, the taxpayer money that was shelled out is probably all going to be made back. And as Robert Gibbs pointed out, when you save 1.4 million jobs, that's a heck of a lot of unemployment compensation that you're not shelling out, that taxpayers are not shelling out. And thankfully, those people have jobs.
And we should point out auto sales are up as well. Not just for GM but for many others. The problem, though, is why hasn't that amounted to very much credit for this president? I think maybe this whole debate is a metaphor for some of his other problems -- the fact that was tough decision he had to make early on. It's worked out, and he's gotten very little credit.
VELSHI: That's kind of a bit of the problem that this White House sort of suffers from. There's all sorts of decisions they made that if you were to look at it mathematically and economically have made sense, and they don't tend to get all that much credit for it.
HENRY: Exactly. Now that the midterms are over, we can finally say this will be decided in 2012. We had to wait until after the midterms. But now, he has essentially two years to make a new case to the voters. The last case didn't quite work out. They lost control of the House. They still have the Senate barely.
But now before he runs for re-election he has a chance to lay this out, lay the stimulus out, and see whether or not the American people will feel better. Right now, they don't. Right now, they don't feel this bailout has mattered much to them. They don't feel the bank bailouts, which we always have to point out started in the Bush administration, not the Obama administration -- he's gotten a lot of the flack, a lot of the blame, very little of the credit. He's got two years to figure that out.
VELSHI: Ed, let's talk about the START Treaty, the president working on this.
HENRY: Yes. You know, he came out today, the second time we'll hear from him. Earlier, he came out to talk about the START Treaty. And it's interesting, he has some Republicans, like Jon Kyl holding this up. They need 67 votes to ratify it in the Senate.
He came out, and as Robert Gibbs put it, he was sitting with those "wild-eyed liberals" like Henry Kissinger, James Baker from the first Bush administration. I mean, they're all kinds of very prominent Republicans who are saying this strategic arms reduction treaty with Russia is a smart idea. And yet, again, he can't get it through yet. Part of John Kyl's objection is he's worried about the American stockpile. He wants more money to make sure it's modernized. President's putting some money on the table, some $4 billion dollars. Maybe Jon Kyl wants more.
The White House sort of feels every time they answer a Republican request here, maybe the goal posts are moved yet again. If you step back from the START debate, you got to wonder are the Republicans testing this president right now on START? Which typically, as Robert Gibbs was pointing out gets 80, 90 votes bipartisan votes. Right now, he's struggling to get 67 votes on an arms reduction treaty that should be a no-brainer.
Secondly, it was pointed out at this briefing today that Republican leader Mitch McConnell gave a speech to The Federalist Society, a conservative group. Why is that significant? Today was the day Mitch McConnell said he was too busy to meet with President Obama for that Slurpee summit. And Robert Gibbs just kind of questioned on that - well, do you think he could have maybe made time?
Are the Republicans testing him? You know, we don't need to meet with you today. We don't need to pass this treaty now. Let's wait til January. You have to wonder whether this president is being tested by the Republicans.
VELSHI: We'll follow that closely. Ed, good to see you always. Thank you so much. Ed Henry on "The Stakeout," right outside of the White House.
Hey, eating sushi each day may keep the cardiologist away. Just ahead, what our top doc Sanjay Gupta learned from a visiting a fish market in Japan.
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VELSHI: Checking top stories for you.
A good day for General Motors. The iconic American automaker began reselling its stock today to help repay the $50 billion it owes taxpayers. Out of the gate, GM shares sold for $35 a pop, $2 higher than expected. It's initial public offering is expected to raise at least $20 billion, making it the largest in U.S. history. Federal investigators are expected to announce charges against two former employees of con man Bernie Madoff. The FBI arrested them in New Jersey and Florida. Their arrests are the latest in connection with Madoff's massive Ponzi scheme that duped investors out of billions of dollars. He's serving a 150-year prison system.
And from Chile to the U.S.A., CNN is honoring the 33 Chilean miners who survived 69 days trapped underground. They landed in Los Angeles a short time ago. The miners, along with five of their rescuers, will be special guests at our annual event recognizing our top ten heroes the year. Be sure to watch "CNN HEROES: AN ALL-STAR TRIBUTE" hosted by Anderson Cooper on Thanksgiving night at 8:00 Eastern.
Heart disease is the leading cause of death in the United States, ahead of cancer. The latest numbers from the CDC show more than 616,000 Americans died from heart disease in 2007. Every 34 seconds, someone has a heart attack. It's estimated this year alone heart disease will cost the U.S. more than $316 billion.
Our rate is more than double that of Japan. Their secret their diet. CNN chief medical correspondent Sanjay Gupta reports from a fish market outside of Kobe, Japan.
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DR. SANJAY GUPTA, CNN CHIEF MEDICAL CORRESPONDENT (on camera): There are some cities around the world that have extraordinarily high life expectancy rates and health officials trying to figure out exactly what it is about those places that are somehow different.
They place they started looking is Japan. One thing I can tell you right off the bat, it has less to do with genetics and a lot more to do with the environment and specifically, the types of food that they eat.
This is one of the most popular places you'll find in cities like Japan. You have octopus, over here you have squid, fresh fish markets. This is a place that a lot of people come and they buy fish every single day and this is particularly fresh fish as well as you can tell.
Just looking around here, you can see how fresh this is but there are some fish you really should pay attention to. You have crabs over here, you have big clams and small clams but there are certain fish, for example that are really high in Omega-3 fatty acids. Mackerel over here, if you ever had this, it's a great fish, very high on Omega-3 fatty acids. Salmon is another one.
And if you look at the blood of Japanese people versus people in other parts of the world, often those levels of Omega-3 fatty acids are twice as high. I find not surprising that heart disease, is such a big killer in the United States, they have rates here of about half of that here in Japan.
So -- and this is a big reason why, specifically, Omega-3 fatty acids, terrific at lowering your blood pressure, decreasing the clots and the clogging in your arteries and lowering your triglyceride levels.
Tuna, another great fish, for example, great pieces of tuna here. Again, all of it very fresh, people come here every single day. On average, people in Japan eat about one to two servings of this type of fish per day. As compared to the United States, for example, where they eat one to two servings a week.
Just really quickly, as well. Seaweed, you may be hard pressed to find this at many store in the United States. But that's another great source of anti-oxidants and it's also often eaten with fish. Now if you hate fish, there's other ways to get the anti-oxidants, soybeans, for example, tofu, flax seed, walnuts. Those are all great sources, as well.
But again, really trying to figure out why people live longer in big cities around the world, a lot of them has to do with the type of diet they eat. And in Japan where they do it better than anywhere else, fish specifically Omega-3 fatty acids make a difference.
You know, there's something else they taught me here, as well. And it's this idea that you should push your plate away before you're ever full. They call it "horahachibu" it's a really good phrase. Never stuff yourself. That's advice you can use no matter where you live anywhere in the world.
(END VIDEOTAPE)
VELSHI: "Halahchibu." Never stuff yourself. Thanks, Sanjay. I feel you included that one just for me.
Some "Odds and Ends" for you next, including a very odd Twitter scholarship contest that's finger clicking good. I'll explain when we come back.
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VELSHI: Time for "Odds and Ends." A lot of people pay for college by working at a fast food champion. KFC has put a cyber spin on that. It's going to award a $20,000 college scholarship for typing just 140 characters. KFC is looking being for the best tweet explaining why the applicant exemplifies Colonel Sanders' commitment to education. He, of course, founded the chain, formerly known Kentucky Fried Chicken. To find out more about the contest, go to KFCscholars.org. By the way, if you want to what can the Colonel character, he's on the Twitter at kfc_colonel.
From beets to leaks, now "Harry Potter and the Deathly Hallows" doesn't open in the U.S. until tomorrow, but you can already watch a chunk of it online.
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UNIDENTIFIED MALE: Harry Potter. The boy who lived.
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VELSHI: Thirty-six minutes of the flick were leaked online by somebody, and they are going to be downloaded or they are being downloaded at file sharing sites. Warner Brothers, the studio behind the Harry Potter juggernaut, is not pleased. It's investigating what it calls a "serious breach of copyright violation and theft of property."
We should note, Warner Brother and CNN are both part of Time Warner, Inc.
Well, that's it for me. I'm going to hand it over now to - I think - is it Brooke?
