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CNN Saturday Morning News
U.S. Embassy Confirms American Businessman Abducted From His Home in Pakistan; Learning More About Texas Governor Rick Perry; Bus Overturns on PA Turnpike; Food Banks Having Hard Time Keeping Necessities Stocked For Those Who Need; Canceling Retirement; What Some Women Will Do for Love; Search Widens for Missing Maryland Woman; Tiger in a Tailspin; Wild Week on Wall Street
Aired August 13, 2011 - 08:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
T.J. HOLMES, CNN ANCHOR: Good Saturday morning to you all.
A developing story right now, an American kidnapped in Pakistan, and the kidnappers used a Ramadan holy tradition to gain access to his home.
Also today, the biggest impact on the campaign trail today could be a long way from where the action is happening in Iowa, actually South Carolina. Texas Governor Rick Perry expected to announce from there that he is running.
Also, you've been hearing the threats of a possible double-dip recession. You need to be ready. We've got your recession-ready tips coming your way.
But let's start with that breaking news we are getting in also to the CNN newsroom. This comes to us out of Pennsylvania where at least one person we're told is still trapped right now in an overturned Greyhound bus.
This happened in Lancaster County on the Pennsylvania turnpike. At least 23 people we're told in all have been injured. Some had to be flown to the hospital by helicopter.
Again, this is just a developing story. This just happened a short time ago. We're waiting to get pictures in from the scene as well, but we understand at least one person is still trapped and at least 23 injured with an overturned bus there in Pennsylvania. When we get more about that, we'll bring it to you.
Also the breaking story out of Pakistan. U.S. embassy saying that an American businessman was abducted from his home in Lahore. That's in the Eastern part of that country.
CNN's Reza Sayah joins me now from the capital of Islamabad.
Reza, any reason yet they've come up with why this American may have been targeted?
REZA SAYAH, CNN INTERNATIONAL CORRESPONDENT: No, it's not clear at this hour why he was targeted, not clear if this was Islamist militants or a criminal gang. It's looking to make some fast cash. In recent years, that's been the main reason for westerners being kidnapped, criminal gangs who are looking to make some quick money but there's no question that this was a very well coordinated, well- planned kidnapping operation.
The target of this kidnapping, according to the U.S. embassy and police, an American citizen by the name of Warren Weinstein, one of the many development workers here in Pakistan. Police say the kidnapping happened at 3:15 a.m.
It is the holy month of Ramadan, a lot of Muslims in Pakistan fasting. Investigators say that hour, three of Weinstein security guards and his driver were preparing for a pre-fast meal in the front yard when they got a knock on the front gate. It was three men who apparently were offering food, which is customary during Ramadan. But that was a ploy for these assailants to get in.
Once they forced their way in, other assailants scaled the walls of the home according to the police. They tied up the security guards, pistol whipped the driver. He eventually led them up to where Warren Weinstein was sleeping in his room and eventually they left with him. Neighbors, security guards telling police the assailants left with these two vehicles.
T.J., Weinstein working for a company, a development company based in Virginia. This is one of the many companies in Pakistan involved in economic and social developments and important work he was doing here. But, obviously, tough times for his family who are probably very worried about his condition right now.
HOLMES: All right, Reza Sayah in Islamabad. Thank you this morning.
Three minutes past the hour. Let's turn back to the U.S. now and politics here.
A big day for the Republican GOP candidates. The Iowa Straw Poll gets started here in just a bit. We'll have those results later of today. But this could be, even though we're a good year plus away from election day, today could be a make or break day for them.
At least six candidates will be speaking at the event today. They'll be campaigning there. You're seeing those six, now three others will be on the ballot but not there. That's Mitt Romney, Jon Huntsman and Newt Gingrich. They have chosen not to participate in the event even though their names will appear on the ballot.
A couple of names that won't be on the ballot, Sarah Palin. She is in Iowa. She's on her bus tour there. She has not announced any of her plans about whether or not she'll run for president, but she is in Iowa.
And then Governor Rick Perry of Texas. He will make it official today when he announces in South Carolina at an event in just a few hours that he's officially getting into the race. But those two not participating in the straw poll, name won't be on the ballot. You've been hearing us throw around this phrase quite a bit, straw poll. Exactly what is the straw poll? It's a vote with no consequence, necessarily. The winner doesn't actually get anything. They get a lot of press coverage. They get a lot of attention and maybe some momentum. But other than that, they don't really get anything.
In this case here, all the voters will have to pay to get in the door of the civic center in Ames, Iowa, to participate. They sit in their seats. They listen to speeches from their candidates, those who are there to participate. Along the way they actually fill out their ballots and pick their favorite candidate.
It costs them 30 bucks in get in and participate in this thing. A lot of those tickets are provided to them for free from the campaign, so kind of a stacked deck here. But it gives you an idea of how this would play out today. Again, we will get the results later.
You can stay here with CNN for live coverage of the Iowa Straw Poll results. Don Lemon, Candy Crowley with the special for you, "THE IOWA STRAW POLL" 7:00 Eastern time.
Iowa is a big deal, yes. Texas Governor Rick Perry may be overshadowing what's happening in Iowa right now with an appearance he'll have today in South Carolina. That is where he is expected to officially jump into the race and it will change the game.
CNN's Jim Acosta tells us why.
JIM ACOSTA, CNN CORRESPONDENT: T.J., Rick Perry arrives in South Carolina as a major threat to the entire GOP field. He is more conservative than Mitt Romney and arguably more electable than some of the other candidates. That might explain why the Obama reelection campaign has taken notice.
(BEGIN VIDEOTAPE)
ACOSTA (voice-over): A Tea Party governor straight out of the wild west, Rick Perry sounded like he was running against President Obama when he was seeking reelection in Texas last year.
2010 PERRY CAMPAIGN AD: That's why I rejected Federal dollars, strings attached and will fight misguided health and energy policies that will raise taxes on our families.
ACOSTA: Now poised to shake up the race for 2012, Perry could unite Tea Partiers with big business Republicans and Christian conservatives for a showdown with the White House. He isn't in Iowa for this weekend's straw poll, but he is on the minds of Republicans.
REP. RON PAUL (R-TX) PRESIDENTIAL CANDIDATE: I'm very pleased that he's coming in because he represents the status quo.
ACOSTA: Instead, the governor is sharpening his message against front-runner Mitt Romney. GOV. RICK PERRY (R), TEXAS: I think if you just want to look at the track record of when Mitt was the governor of Massachusetts versus my year of being the governor of Texas, I'll let those stand on. Mine doesn't need any propping up. We'll just let it stand there and let people examine it.
ACOSTA: And while Romney is still holding back --
MITT ROMNEY (R) PRESIDENTIAL CANDIDATE: He's a fine man and a fine governor, and the record of Texas I think speaks for itself.
ACOSTA: President Obama's reelection team is ready to join the fight. Asked about Perry's recent attacks on the president's economic record, a top Democratic strategists blasted back.
DAVID AXELROD, SENIOR ADVISER TO PRESIDENT OBAMA: He's also called for succession from the United States of America and all kinds of other things. We'll see when he becomes a candidate what specifically he has to propose, what he has to say. His record will get scrutinized.
ACOSTA: A reference to Perry's comments after a Tea Party rally two years ago.
PERRY: We got a great union. There's absolutely no reason to dissolve it. But if Washington continues to thumb their nose at the American people, who knows what might come out of that.
ACOSTA: Before life in politics made him the state's longest- serving governor, Perry grew up poor in the tiny west Texas town of Paint Creek. No stop light, just a school and a church. It's a half a world away from Washington.
At the nearest cafe to Paint Creek, the feelings on a Perry bid are as strong as the coffee.
UNIDENTIFIED MALE: Our country has pretty much forgot about Christian ethics, and I believe he's a good Christian man and I think he's going to bring that back into our country like it needs to be.
UNIDENTIFIED FEMALE: He came from Paint Creek, Texas. He graduated from Paint Creek. He didn't help Paint Creek, so what can he do for the nation?
(END VIDEOTAPE)
ACOSTA: In his speech Rick Perry is expected to tout his economic record in Texas, but Democrats in that state point out the governor has never been tested on the national stage. That process has just begun -- T.J.
HOLMES: Thanks so much, Jim Acosta.
At 1:00 Eastern time, that is when CNN will have live coverage of Rick Perry's expected announcement that he is running for president. We're at eight minutes past the hour now. Let's turn to Philadelphia, and police there in Philadelphia are now saying that maybe their curfew worked. They have been enforcing the city's new weekend curfew law. They say they arrested about two dozen teenagers overnight.
This curfew is from 9:00 p.m. to 6:00 a.m. It's a ban on teen on the streets. It's in response to violent attacks organized through e- mail and social media. Minors and their parents could face fines of up to $300 for a first offense, up to $500 if they're picked up again.
Well, let me bring in -- Reynolds was telling me about this yesterday. Are these actual pictures? Is this an artist rendering of the night's skies last night?
REYNOLDS WOLF, AMS METEOROLOGIST: I believe it is an artistic photograph of the night skies.
HOLMES: OK.
WOLF: A nice little house there in the background. What's even beyond that picture you see the night sky with a bursting of meteor shower. I know you're blown away with this; a lot of Americans are. The thing that's so cool about it is it happens every July and August. People have been viewing these for about 2,000 years.
Tonight should be another great night to view them. The thing is though, you can't be in an area where you have a lot of cloud cover. You need perfectly clear skies. Even if you happen to be in a big city area, a lot of times the lights of the city are going to bounce off parts of -- the sky in the reflection itself is going to limit the ability to see some of these
So coming up in just a few moments T.J., we're going to share with people where the best places would be to view a lot of these and also what to expect weather wise. It's another busy weather day.
HOLMES: Reynolds, appreciate you as always. See you here in just a second.
At 10 minutes past the hour now, first we know a lot of families out there struggling to put food on the table and food banks around the country are stretched to a breaking point now. We'll visit a food bank, talk about a problem that actually is getting worse and worse.
But first, when it comes to a place called home, where do you get the best value for your money? Kiplinger.com has just released the 10 best valued cities for housing.
The top five? Number five on the list, volunteers over there, Knoxville, Tennessee. Colorado Springs, Colorado comes in at number four. And then Nashville, Tennessee, comes in at number three.
Looks like Tennessee might be a good spot to be in. But the top two cities when I come back in just a moment.
Stay with me on this CNN SATURDAY MORNING.
(COMMERCIAL BREAK)
HOLMES: Twelve minutes past the hour now.
When it comes to getting the best home value for your money, which cities come out on top? Kiplinger.com released an annual list. We told you a moment ago number five was Knoxville, Tennessee, followed by Colorado Springs at number four and then Nashville, Tennessee, at number three.
The top two spots -- check out Charlotte, North Carolina, coming in at number two. And the best value for a home, you need to head on over to Omaha. They come in number one on the list.
Give you a look at some of the other stories making news cross country. A family back from an overseas vacation runs into a bit of trouble with customs agents over what? Forbidden fruit.
(BEGIN VIDEO CLIP)
SURI STEINBERGER, MOTHER: To me it was like, you know what you see on TV, I thought I was going to get handcuffed, my kids. I just started to cry.
(END VIDEO CLIP)
HOLMES: Yes, we're talking about an apple, a tomato, and a couple of cumbers that landed Suri Steinberger's family in some hot water yesterday. The produce was actually leftover snacks, leftovers from a 19-hour flight from Israel. Customs officials say if the family had declared the food, this wouldn't have been a problem. The family says they simply forgot about it and the agents over reacted. Besides some time and some trouble, the oversight actually cost them a $300 fine.
Well, how would you like this as your problem? After you just won $229 million in the recent Powerball jackpot? This is your problem now. You need to decide whether or not you want to take a lump sum amount of $123 million or you want the payout over 30 years. Boy, it's tough to be you. The you I'm talking about are Minnesota's Tom and Kathleen Morris. They're from Roseville. That's the decision they have to make right now. Tom, though, already made one decision. He officially retired.
Also in Chicago, the home of the misdemeanor wiener. They are enjoying a legal victory there. Felony Franks is the name of this place. They've been in the middle of a two-year-old lawsuit over a sign permit. A city alderman thought the business, which does employ ex-convicts and its sign sent a bad message to criminals. The alderman finally lost in court. The sign went up. So you can get your Felony Frank. You can also get that misdemeanor wiener, costs about $1.50.
Fourteen minutes past the hour now. Wall Street, were you aboard for this ride this week? Monday, the Dow tumbled 635 points. Then it was up in a big way on Tuesday, down in a big way on Wednesday, up again on Thursday. And then finally there was a sign that maybe things were calming down yesterday.
This roller coaster ride, a lot of people say, was triggered by the credit rating agency Standard & Poor's downgrade of the U.S. economy. But again, it looks like things may have calmed down a bit with the Dow ending the week up 125 points after some positive retail sales numbers, also a report out this month.
So as the number of people on food stamps has reached an all-time high, food banks say they're having a hard time keeping up and fear even worse days ahead.
Our Athena Jones visited a food bank in Maryland.
(BEGIN VIDEOTAPE)
ATHENA JONES, CNN CORRESPONDENT (voice-over): It's a Friday morning in August and volunteers at this Maryland food bank are preparing boxes of fresh produce, canned goods and other items to distribute to people in need. Manna Food Center provides each family with 70 pounds of food every 30 days.
(on camera): What would you do if you didn't come to Manna. Do you get help from other places as well?
JARED, RECEIVES HELP FROM FOOD BANK: No, we would run out of food by the end of the month and Manna gives us that extra boost.
JONES (voice-over): The sluggish economy is taking a toll on families across the country. A record 45.8 million people received food stamps from the government in May. That's one out of every seven people.
For many, food stamps alone don't meet their needs or they don't qualify for Federal help at all. And some of those who have jobs still struggle to feed their families.
ERIC ZEVALLOS, RECEIVES HELP FROM FOOD BANK: We've been rationing food and just scraping by. It's just me and my sister working. Right now it's hard for both of us to provide for our younger brothers that we have.
JONES: That's where organizations like Manna step in. Since 2008, the number of people they have served has more than doubled.
NATALIE CORBIN, MANNA FOOD CENTER: Any growth that the economy is feeling the folks here at Manna are not feeling that yet. Until we see a dramatic change in the economy, we're going to continue to see a dramatic increase in folks who are coming here.
JONES: Manna gets food that is nearing its sell-by date from 40 area grocery stores. The center also relies on food drives, state and Federal emergency food grant programs and donations.
CORBIN: We have had folks who come in and they say I used to be a donor to Manna and now I'm standing in your line. I never thought that I would be in the position where I would have to be the one accepting help.
JONES: For many clients at food banks like this one and others nationwide, what was once an emergency program has become much more. Some worry the increased focus on cutting government spending could make it harder for these organizations to feed the hungry.
(END VIDEOTAPE)
JONES: Now we have seen some encouraging numbers in recent days. New unemployment claims fell to a four-month low last week, but it's too soon to tell if that trend will continue. And for now, staffers at Manna expect demand for the food they provide to rise even more this winter. T.J.?
HOLMES: Again, Athena, all this talk about cutting government spending and more of those cuts we know are coming, how is this going to have an impact on places like the one you visited?
JONES: We talked to now just this local food bank, but also to a national organization Feeding America that helps feed 37 million Americans across the country. And they're worried that as this super committee in Congress looks to make recommendations for further cuts, this $1.5 trillion in cuts, that they will end up targeting programs that, for instance, provide government subsidized food to these programs or that they will cut programs for the needy and that that will increase demand at these food banks and put a strain on their resources -- T.J.
HOLMES: Athena Jones, good to see you as always. Thank you.
Eighteen minutes past the hour now.
If the economy goes into a double-dip recession, are you read ready? Five things you need to know and maybe need to be doing to make sure you recession proof yourself. That is next.
(COMMERCIAL BREAK)
HOLMES: Twenty minutes past the hour now on this CNN SATURDAY MORNING.
This madness with the markets this week, I'm sure you saw this. But this is what happened to the Dow Jones Industrial Average. Investors were pulling their cash away from stocks this week, and they changed their minds and then they actually went back and then changed their minds again.
But the Dow saw four 400 point swings in a row, first time in its history we've seen that now. You can call this a silver line that almost all the world markets closed up this week. The Dow almost back to where it was a week ago. It's not great, but that's something. A lot of talk you've been hearing of a double-dip recession. How can you get ready for that possibility?
Let me bring in our Clyde Anderson who is going to have these five things you need to know.
But first up, the talk out there, how serious of a possibility is this now?
CLYDE ANDERSON, CNN CONTRIBUTOR: I think it's a definitely a possibility. I mean, look at the way everything is going. We had this turbulent time in the market. We haven't had the growth that we've expected or we needed to have. You look at the unemployment numbers. It shows right there.
And so, when you're looking at that you know, it's almost inevitable that we head in that direction. I always tell people recessions are personal because it doesn't affect everybody and sometimes we believe the hype. If I hadn't lost my job and I'm going through a recession, it's going to be a lot different than from my friend who has lost his job.
HOLMES: Let's go to these five things. Is it going too far for me to say you can recession proof yourself? You're giving me five tips here, but that might be taking it too far?
ANDERSON: Be right there. If you prepare yourself right, you won't feel the same.
HOLMES: How do we do that?
ANDERSON: First thing I think is having that emergency fund, at least three to six months worth of monthly income saved up. So you want to have that, that liquidity. Cash is king still.
HOLMES: It's hard for people still to save money.
ANDERSON: It's hard but we've got to do it and start somewhere.
HOLMES: Emergency fund. What's next?
ANDERSON: Number two, I say number two, you've got to make sure that you shed those unnecessary contracts, those long-term two-year contracts on your cell phone, your satellite dish, anything that you can shed. You also want to know the laws in your city as far as leases. Maybe you're in a lease that's too high. When your income decreases you want to be able to get out of that lease.
HOLMES: You don't want to be locked in on anything. All right, what's number three on that list?
ANDERSON: Number three on the list is make yourself, you need to be the most valuable player in your office. You need to make sure that you're the most important person, not just staying late but also contributing to help decrease the expenses and increase the bottom line. HOLMES: So when the time comes, they say OK, we can't get rid of T.J.
ANDERSON: We can't get rid of T.J. T.J. is too valuable. And even if those don't do any cuts, now T.J. gets a promotion.
HOLMES: Number four on your list here?
ANDERSON: Network, network, network. We've got to network. It's easier to network when you have a job than when you don't have a job. People are a lot more responsive to you when you have that job and you seem a lot more valuable.
So really network - network within your job and network outside your job. Not just on social media but actually getting out there, putting your face and name out there.
HOLMES: Last thing on the list?
ANDERSON: Last thing on the list is investing with caution. OK? Don't use your bill money to invest in the stock market. Stocks are low right now. So they say buy low, sell high. But you don't want to use your rent money to invest in. It's like going to the casino and spending your rent money, you mortgage money to gamble. You don't want to do that.
You want to make sure that you're being wise about your investments. It's good to invest in some stocks but also maybe start off with an IRA (INAUDIBLE) or maybe even a money market.
HOLMES: Those five things. We will get those posted for you as well if you didn't catch those or you just want to have them for yourself and study them a little later with Clyde Anderson, good information.
Good to see you again buddy. Thanks so much.
Twenty-three minutes past the hour.
Reynolds Wolf is going to join us once again because he's keeping an eye on the tropics and another potential storm or storms developing in the Atlantic. We'll talk to him after the break. Stay with us.
(COMMERCIAL BREAK)
HOLMES: Not a happy thing. 26 minutes past the hour. This ain't a happy thing necessarily. We don't know what's going to happen yet. But still, to see three possibilities out there?
(WEATHER REPORT)
HOLMES: Thank you, kind sir. I'll take it from here.
All right. I've been fascinated by some of you all's responses this morning to me on Twitter. With the question about whether or not you would give up billions of dollars in order to marry the person you love. Well, somebody did it. Maybe you're not one of them. We'll tell you about her plans.
(COMMERCIAL BREAK)
HOLMES: So we are at the bottom of the hour on this CNN SATURDAY MORNING. Thank you so much for spending part of your weekend here with us. I'm T.J. Holmes to give you a look at some of the stories that are making headlines right now.
A developing story. An American businessman has been abducted in Lahore, Pakistan. Police there say several gunmen snatched Warren Weinstein from his home while he was under guard. This incident underscores the U.S. State Department's travel warning for Americans visiting or doing business in Pakistan.
Plus, back here at home, Texas Republican Governor Rick Perry expected to formally announce his bid for the presidency later today. Last night Perry was the keynote speaker at the Alabama GOP's summer dinner. So stay here with CNN. We will carry his announcement live when it happens at 1:00 Eastern Time in South Carolina.
Also police in Lancaster County, Pennsylvania, say at least 23 people were injured when a Greyhound bus overturned early this morning on the Pennsylvania turnpike. Three people had to be airlifted from the scene. We are getting more details about this. We'll bring it to you as they come.
Well, the stock market turmoil has many Americans worried about their savings. Some are rethinking those retirement plans and our Allan Chernoff looks at one retired woman who had to go back to work.
(BEGIN VIDEOTAPE)
JACKIE BOOLEY, CANCELED RETIREMENT: Thank you for calling customer service, this is Jackie. How may I help you?
ALLAN CHERNOFF, CNN SENIOR CORRESPONDENT (voice-over): Jackie Booley never thought she'd still be working at the age of 66. In fact, she retired from her job as a call center manager for AT&T back in 2007. The next year the stock market plunged and Bullies Investments suffered a devastating blow.
BOOLEY: It hit me hard. I lost about 50 percent of what I had. And I have not recovered from it since.
CHERNOFF: Her nest egg, a 401(k) and individual retirement account was chopped in half. Social Security didn't cover all her expenses, so Jackie had no choice but to go back to work as a customer service agent.
BOOLEY: I don't believe in my heart I will ever be able to retire. I will die working. It's as simple as that.
CHERNOFF: That simple truth is a reality for many Americans who, like Booley, are seeking work after retirement or even postponing it. More than a quarter of American workers now say they are not at all confident about retirement. According to the Employee Benefit Research Institute, that's the highest level in the two decades the institute has been asking that question. The awful job market has been especially harsh on older Americans.
LORI PARHAM, AARP SENIOR ADVISER: When we talk to our members and in our latest polling, they tell us that their financial security is one of their biggest concerns. And at the moment they don't feel like they have what they need to retire.
CHERNOFF: Though Booley is still invested in stocks she has little faith the market will jump back.
BOOLEY: It would take me another ten years to amass any kind of 401(k), to even look at retiring.
CHERNOFF: So instead, she's doing her best to enjoy her new working life. Rather than dreaming of retirement, Jackie Booley dreams about being a rock star.
Allan Chernoff, CNN, New York.
(END VIDEOTAPE)
HOLMES: Well, 34 minutes past the hour now.
Be honest with me right now. Would you really give up billions of dollars to marry the person you love? Seriously? Be honest. Well, we've got a story for you coming up about European royalty that has sparked that conversation. You need to hear this one.
Stay with me.
(COMMERCIAL BREAK)
HOLMES: Thirty-seven minutes past the hour.
Get your spouse, your loved one, in the room right now. And you will have an honest conversation this morning. Would you really give up billions of dollars in order to marry that person you're with? That is the question this morning.
We're going get into that because there's one of the wealthiest women of the world says she is willing to do just that. Nadia Bilchik is here with the "Morning Passport."
We'll get to that in a second but the other story which is an update on a story you brought us a while back. Another woman, a different story here now, she divorced to try to make her dreams come true.
NADIA BILCHIK, CNN EDITORIAL DIRECTOR: Exactly.
HOLMES: Explain this one.
BILCHIK: Sandra Torres -- (CROSSTALK)
HOLMES: Yes.
BILCHIK: -- in Guatemala divorced her husband Alvaro Colom because she wanted to run for president. And in Guatemala, the spouse, in fact a relative of the incumbent cannot run. So she had a divorce of convenience.
But this week the court ruled that even though she's divorced, she still cannot run because she was married to him for most of his presidency. So that divorce didn't work out too well.
HOLMES: It's an odd twist there. I love this story when you first told us about it. But now it seems like they got divorced for nothing. We have any idea what they're going to do now? Remarry --
(CROSSTALK)
BILCHIK: Well, that's what the tabloids are waiting to see.
HOLMES: OK.
BILCHIK: Will they now remarry for convenience?
HOLMES: For convenience.
BILCHIK: It will be interesting to see. It may be a lot cheaper to live together. We don't know.
HOLMES: Can she just walk away. She wanted to divorce him for power.
BILCHIK: Exactly. Not very romantic.
HOLMES: Oh certainly, oh it's not.
BILCHIK: But very romantic in Spain. The Duchess of Alba.
HOLMES: OK.
BILCHIK: 85-year-old Duchess is going to marry a man 24 years her junior.
HOLMES: OK.
BILCHIK: And she's doing it for love. There she is, the Duchess of Alba, otherwise known as Maria Rosario Cayetana Alfonsa Victoria Eugenia Francisca Fitz-James Stuart y de Silva.
HOLMES: I'll take the short version.
BILCHIK: She is the most titled royal in Europe. And there she is with the love of her life, Alfonso Diaz, a social security worker.
HOLMES: OK, now the family did not want this to happen because she's worth how much, first of all?
BILCHIK: About $5 billion in art and land.
HOLMES: Wow.
BILCHIK: And she is one of the most wealthy powerful women in Spain. Afro and all, or what do you call it? What is that --
HOLMES: You tell me. I don't know what that is.
BILCHIK: I don't know what they call it. But it's -- her curls.
HOLMES: Her curls. OK, the family didn't want -- did they think he was just specifically after her money or they are just worried that he would be entitled to some of it when she died? And they didn't want that to happen.
BILCHIK: Well, they feel very strongly that they do not want Mr. Diaz to get any of her money.
(CROSSTALK)
HOLMES: Any. OK.
BILCHIK: Correct.
And so what she's saying is I will give you all the money and I will vacate you so that you rest assured he's not going to get any of it.
Now, some reports, "Time" magazine, for example, is saying she is not giving it up. She's just designating it. And all she's doing is revealing the will to the children and saying, "I assure you when I die, my 12 castles will go to you and not Alfonso Diaz".
But others are saying that the 12 castles are already going to her six children who, by the way, have all been divorced.
HOLMES: Have all been divorced. But still, she felt strongly enough about it to make everybody feel better. Could they have stopped her from getting married, necessarily?
BILCHIK: Well, even the King, Juan Carlos of Spain, was not happy that she was getting married.
HOLMES: OK.
BILCHIK: I mean, this is a woman who has so much art. She has about 50,000 pieces of art.
HOLMES: OK.
BILCHIK: Of Spanish art. So she really is a national treasure and her artworks are national treasure. So it will be interesting to see. But you know, you asked me earlier --
(CROSSTALK)
HOLMES: Yes.
BILCHIK: Would I give up? So I thought if I was 85 and I was marrying a hot 64-year-old.
(CROSSTALK)
HOLMES: A hot 64-year-old.
BILCHIK: I would give up a billion or two.
HOLMES: Hot 64-year-old. Now 60 is the new 20? Is that what it is now? Is that what where you are?
BILCHIK: Well, it remains to be seen. But we'll see if the marriage goes ahead and her children, with a castle each and a couple of 100,000 pounds of paintings and dollars, they will be fine.
HOLMES: All right, Nadia, thank you so much.
All right there, folks. You have that conversation today. Would you really, and be honest, give up billions of dollars to marry that person that's sitting next to you right now this morning? Good luck with that conversation.
All right, we're about 20 minutes off the top of the hour.
We are going to be going to Aruba for a story that really sounds familiar to a lot of people. Another American woman goes missing without a trace. Investigators are tracing her steps back to the U.S. for evidence.
Stay with me.
(COMMERCIAL BREAK)
HOLMES: Well, now 42 minutes past the hour now on this CNN SATURDAY MORNING.
The search for an American woman missing in Aruba widens with authorities scouring a home in Maryland and hoping to get a lead on her whereabouts.
And CNN's Martin Savidge is in Aruba with the very latest on this disappearance of Robyn Gardner. And Martin, what is the latest there given that -- I understand that the authorities had called off what they say is the active search for at least on the island?
MARTIN SAVIDGE, CNN CORRESPONDENT: Well, they have. They scaled it back quite a bit.
Good morning to you, T.J.
Here is where things stand. Right now the suspect, at least that's what they're being classified Gary Giordano as here by authorities on the island is not cooperating; that is the authorities take on things. His attorney would probably say, no, he's actually cooperating very well, with what I'd like and that is don't talk to the law at this particular point.
A lot of searches going on in the last 24 hours pertaining to this case in the U.S. and here in Aruba. Yesterday they were searching some old sulphur mines not far away from the beach where this young woman last was seen snorkeling, according to Gary Giordano. They found some clothing and they found some sandals. But it's unclear if these are related to this particular investigation.
Then last night, Maryland -- Gaithersburg (ph), Maryland, actually; federal authorities went into the home of Gary Giordano. And this is the man that's being detained in Aruba in connection with the disappearance of Robyn Gardner.
We don't know exactly what they found, but we do know they're looking for any evidence; anything that might suggest intent here, because right now authorities down in Aruba are not sure if they're dealing with a tragic drowning accident or if they're dealing with something other.
And of course, it's the something other they're very worried about here especially given that Gary Giordano has well, a difficult past you could say. At best there's been allegations of domestic violence by a number of women have come forward here. So they continue to search to try to find evidence.
They also went into the home of Robyn Gardner; all this maybe to try to find some indication of intent at this particular point. And the authorities on the island have released the photo of Gary Giordano. That's very important because up until this point they had not done that. Essentially what they're asking for is anybody who may have seen this man, anybody who may have seen the couple together or maybe seen him by himself at odd hours of the day, please report it to authorities.
That's where it stands right now, T.J.
HOLMES: All right. Martin Savidge for us in Aruba. Thank you.
We're about a quarter at the top of the hour now and Tiger Woods has done something he has never done in his career before and that is not a good thing. Tiger has hit another low spot and he has missed the cut now at the PGA Championship. Our Ray D'Alessio, we're checking in with him after the break.
Stay with me.
(COMMERCIAL BREAK)
HOLMES: We're about 12 minutes at the top of the hour. Joining our good friend Ray D'Alessio of HLN Sports.
RAY D'ALESSIO, HLN SPORTS: Welcome back by the way.
HOLMES: Thank you man.
D'ALESSIO: You were gone last week, missed you.
HOLMES: Good to see you. You were here last week?
D'ALESSIO: Absolutely.
HOLMES: Two weeks in a row?
D'ALESSIO: Yes.
HOLMES: I thought we stopped allowing that.
D'ALESSIO: That is at T.J.'s request. Sorry. You can't get rid of me that easy.
HOLMES: No. We're talking Tiger Woods and we're not talking good. This got ugly and uglier for him at the PGA this week.
D'ALESSIO: Yes. He missed the cut by six strokes. I mean that's a lot for Tiger Woods. It really is.
You know, finished his first two rounds ten over. And what shocked me are just the rounds he had, T.J. I mean we're talking -- he found them bunkered like 22 times, had five double bogeys the first day, found the water four times. You know, my question is, OK, is it a situation, has Tiger mentally lost that edge? I mean, because let's face it, golf is 90 percent mental.
Has he lost it mentally? Is it physically? He says it's not physically. He says he is feeling great right now. Tiger says it's just a matter of him getting used to this new swing. And even though he didn't make the cut this weekend, he was still able to find some positives in it. Take a listen.
(BEGIN VIDEO CLIP)
TIGER WOODS, PROFESSIONAL GOLFER: The only thing is to step back in the sense that I didn't make the cut and I'm not continuing the tournament. But it's a giant leap forward in the fact that I played two straight weeks healthy. So that's great for our practice sessions coming up. We're going to be now able to work and get after it.
(END VIDEO CLIP)
D'ALESSIO: T.J., we're not going to see Tiger now probably until November at the Australian Open. That's the next time he is scheduled to play. So between now and then he does have a lot of time to work on the game.
We were talking about on the commercial break, to me Tiger doesn't look as hungry as he used to be out on the course. He used to throw his clubs. He used to get mad. You don't see that anymore. It's like, yes, move on to the next shot. That was part of Tiger's game with that edge that he had. And we're not seeing that anymore. HOLMES: He doesn't have that confidence certainly. A lot of people, no matter what you think about everything that happened off the course, people just enjoyed watching him play.
D'ALESSIO: Absolutely.
HOLMES: It would be nice to see that old Tiger on the course again.
Let's move now to a guy we used to love to watch to play because we never knew what would happen. Dennis Rodman, I have to admit, Hall of Fame ceremony last night. I was waiting to see what he was going to show up in. He kind of disappointed with it.
D'ALESSIO: Maybe he's calming down in his old age.
HOLMES: Maybe that's it.
D'ALESSIO: I don't know. But you know, this guy is certainly deserving of the Hall of Fame. Of course, he has five NBA championship rings; two with the Detroit Pistons, three with the Chicago Bulls. And one thing about Dennis Rodman, say what you want about him but the guy always wore his heart on his sleeve.
Last night he tapered down a little bit but, again, Rodman getting very emotional when it was his time to speak at the podium.
Check it out. Don't have it. I thought we had it.
Yes, he broke down, cried, basically thanked everybody, thanked his coaches, Phil Jackson, his former coach with the Chicago Bulls. Actually inducted him in, you know, presented him and basically said that these coaches were like father figures to him.
People looked past his faults and accepted him for who he was. And that was a great basketball player and that he did not play the game for money. It was very emotional.
HOLMES: You couldn't question him on the court.
D'ALESSIO: No.
HOLMES: He gave his all every single time up and down the floor.
D'ALESSIO: Absolutely. And the guy never took -- never took a night off, gave everything he had on the court. You know, how many rebounding championships did he -- rebounding titles had he won. Like seven or eight rebounding titles. So, I mean, the guy was just -- like you said, you can't criticize him for his play on the court. Even off the court, he was somewhat good for the game of basketball.
HOLMES: Entertaining.
D'ALESSIO: He was very entertaining and it just -- it pains me to see guys like him go into the Hall of Fame because it just means that you and I are getting old. HOLMES: Is that what it means?
D'ALESSIO: Yes.
HOLMES: Before we get there, we're told now we do have that sound.
D'ALESSIO: We do. Well, take a listen.
(BEGIN VIDEO CLIP)
DENNIS RODMAN, FORMER NBA PLAYER: It wasn't -- I didn't play the game for the money. I didn't play the game to be famous. What you see here is more just an illusion that I loved to just be an individual that's very colorful.
(END VIDEO CLIP)
D'ALESSIO: Spoken from the heart.
HOLMES: And there you go, as we say --
D'ALESSIO: You don't like that outfit, though?
HOLMES: You know, it's kind of toned down from what we might expect from him.
D'ALESSIO: He had the D.R. initials --
HOLMES: Still a lot going on.
D'ALESSIO: He had the nose rings and earrings going. You've got to love Rodman. You really do.
HOLMES: All right. Ray, good to see you. buddy.
D'ALESSIO: All right man. Good to see you.
HOLMES: Thank you so much.
And to our viewer as we get to about seven minutes to the top of the hour now; party going on for the GOP happening in Iowa today. But for some, could be the end of the road.
Stay with me.
(COMMERCIAL BREAK)
HOLMES: All right. Investors catching their breath after a wild roller coaster ride this week on Wall Street. In fact, it was one for the history books. Alison Kosik takes a look back.
ALISON KOSIK, CNN BUSINESS CORRESPONDENT: Hi, T.J.
What a wild week on Wall Street it was and that's putting it mildly. The Dow gained or lost more than 400 points Monday through Thursday; a streak not seen in the history of the blue chip average. Financial stocks and oil prices also swung wildly. And the VIX, which measures fear in the market, hit its highest level since 2009.
Here's how it all went down. Monday the Dow tumbled 635 points. We knew a big sell-off was coming because Standard & Poor's downgraded U.S. debt after the close on Friday before. Analysts said the downgrade won't have a long-term effect but because it was still unprecedented investors took the attitude of sell first, ask questions later.
Tuesday, the Dow snapped back, tacking on more than 400 points. The Federal Reserve lent a hand after announcing it would keep interest rates low for another two years, adding some certainty to an otherwise uncertain market.
On Wednesday, the market once again plunged, losing more than 500 points. There was talk of a possible downgrade of France's debt rating so investors moved in to gold, pushing it above $1,800 an ounce for the first time.
Thursday was another rebound. The Dow added more than 400 points after weekly jobless claims dropped and Cisco Systems posted better than expected earnings.
By Friday we finally saw a hint of calm. The Dow ended 125 points to the upside thanks to some positive retail sales numbers.
Most traders that I talked to expect the volatility to continue at least until we get some reassuring news on where the global economy is headed. Back to you.
HOLMES: All right. Thanks to our Alison Kosik.
This next story now about a little girl, 9-year-old girl whose life was cut short but her birthday wish still comes true in a big way. You're seeing her. Her name is Rachel Beckwith, she's from Bellevue, Washington.
Her birthday wish was to raise $300 to help bring clean drinking water to an African village. Well, she died before that wish came true. But when people heard about her story, listen to how they responded. They went from $220 that she had raised, the donations then swelled to more than a million dollars. And that running count continues on her web page.
Rachel's mother is proud of the legacy her daughter has now left behind. You can be a part of this as well. If you would like to chip in, you can go to her Web site. It's mycharitywater.org. That is the place where, again, a little wish to have $300 has now turned into a million dollars in donations.
