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TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: A secret meeting in a
parking lot, an envelope that reportedly contained thousands in cash. We
have the details of two friends at the center of an alleged insider trading
scandal.
GHARIB: And the future of your money. Is there really a need for
your corner bank branch?
MATHISEN: And all that and more coming up on NIGHTLY BUSINESS REPORT
for Thursday, April 11th.
GHARIB: Good evening, everyone.
Tyler, don`t know if you are keeping score, but stocks really on a
roll.
MATHISEN: Here we go again. We`re just keep reading the same story.
Stop me if you`ve heard this before, folks. But more records broken on
Wall Street today as stocks did edge higher, pushing the Dow and S&P 500 to
fresh all-time closing highs yet again. That comes after first time
jobless claims that tumbled by 42,000 last week. Investors also noted that
a few retailers, notably Costco (NASDAQ:COST) and L Brands, former Limited,
scored nice sales gains in March, in an otherwise lackluster month.
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Today, the blue chips for Dow index rose 63 points, to close at
14,865. The NASDAQ was up three. Ending at another 12-year high for that
one. And S&P added five to finish at 15,193.
One-third of the Dow 30 reached all time highs during the session,
including Disney (NYSE:DIS), Home Depot (NYSE:HD), 3M (NYSE:MMM) and
Proctor & Gamble.
GHARIB: But not every company saw gains today. The biggest decliners
in the Dow were all big tech names. Hewlett-Packard (NYSE:HPQ) shares fell
6 1/2 percent. Chip maker Intel (NASDAQ:INTC) off nearly 2 percent and
Microsoft (NASDAQ:MSFT) tumbled about 5 percent.
And here is why: new data showing a sharp decline in personal computer
sales in the first three months of the year and that, along with two
analyst downgrades on Microsoft (NASDAQ:MSFT) is hitting the software giant
especially hard.
Jon Fortt has more on Microsoft (NASDAQ:MSFT) and what`s next for the
one-time darling of Wall Street.
(BEGIN VIDEOTAPE)
JON FORTT, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): For
the P.C. business, the outlook just went from bad to really, really bad.
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(on camera): No one expected a strong start to computer sales.
Things always slow down for HP, Dell (NASDAQ:DELL) and Apple (NASDAQ:AAPL)
after the holiday season. But these days they have to contend with
smartphones and tablets stealing away customer attention and dollars.
(voice-over): So, analysts were expecting P.C. units to be down, less
than 8 percent from the first quarter of last year.
Yesterday, research firm IDC dropped this bombshell: P.C. shipments
were down about 14 percent.
RICK SHERLUND, NOMURA HOLDINGS, INC.: It`s been kind of a fail in
cuts. Every month, P.C. demand falling a little worse and ultimately, you
say, wow, you know, this upgrade cycle is still coming. The story is
similar.
FORTT: And stocks of companies that rely on P.C.s are feeling the
pain, as consumers seem to be spending more on affordable touch devices and
they`re unimpressed by efforts like Microsoft (NASDAQ:MSFT) surface tablet
and Windows 8, which tried to blend the touch interface with some of the
traditional P.C. software.
SHERLUND: I think Windows 8 is not enough on its own, because it`s
got tablet capabilities and it`s got notebook capabilities, and the tablet
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capabilities kind of get in the way if you want it for a notebook. And I
think if you want a tablet, you buy an iPad.
FORTT: Sherlund is one of the analysts who s downgraded Microsoft
(NASDAQ:MSFT) today.
Microsoft (NASDAQ:MSFT) is pushing into the tablet market amid reports
that it is working on a smaller, more affordable tablet to compete head on
with the iPad mini.
What`s next? Intel (NASDAQ:INTC) is working hard to lower the price
of touch P.C.s which it hopes will lure customers.
(on camera): These latest numbers suggest that shaving 100 bucks or
so off the price might not be enough to stem the tide, especially not with
tablets and smartphones coming out this year from Apple (NASDAQ:AAPL),
Samsung and others.
For NIGHTLY BUSINESS REPORT, I`m Jon Fortt.
(END VIDEOTAPE)
MATHISEN: And joining us now to talk more about the future of
Microsoft (NASDAQ:MSFT) and the P.C. industry in general, Lance
(NASDAQ:LNCE) Ulanoff, editor-in-chief of Mashable, a tech Web site.
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Mr. Ulanoff, welcome. Good to see you.
LANCE ULANOFF, MASHABLE EDITOR-IN-CHIEF: Thanks for having me.
MATHISEN: You know, it`s hard to figure where to begin with, with
Microsoft (NASDAQ:MSFT). And it feels like a company that really needs a
hit and can`t find one. They say Windows 7 is going to be it. Windows 8
is going to be it. The surface tablets is going to be it. But it never
seems to happen.
ULANOFF: Well, yes, let`s start by saying that everybody is kind of
blaming Windows 8 for this, and, obviously, there are so many other factors
at play. There are the changing habits, habits of the consumer, who are
holding on to the hardware they have -- the desk tops and laptops, and are
instead buying tablets.
But, you know, there are also -- there are also other factors like HP
and Dell (NASDAQ:DELL) going through all sorts of issues, company issues
and not really targeting the consumer the way they did previously. It`s --
you know, it is a changing world, but it`s not all on the back of Windows
8.
GHARIB: Well, you mentioned dell and Hewlett-Packard (NYSE:HPQ) and
they are going through a crisis and through a turn around. If they don`t
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succeed, what impact it`s going to have on Microsoft (NASDAQ:MSFT), no
matter how well it does on all of its other businesses?
ULANOFF: Well, let`s just say it s a big market. There are a lot of
other companies out there. There`s Samsung, there`s Asus, and there`s
Acer. And there will always be a need for computers, at least for the
foreseeable. And the other thing to keep in mind, there`s all the
businesses that buy these things.
You know, when a new operating system comes out like Windows 8, no one
jumps to buy it. I mean, they just don`t, because there are so many
reasons. Consumers are not upgrading as fast. They don`t need to. They
get enough power at the computer. They spend more time with their tablets
and, you know, not jumping to buy it, until they do eventually buy and
they`ll get the upgrade.
Businesses, forget about it. They`re not doing it because it`s
expensive to upgrade like that, and again what they have right now with
Windows 7 is working just fine for them.
Let`s look 12 months from now and see if the story with Windows 8 is
any different.
MATHISEN: So, let`s -- back to Microsoft (NASDAQ:MSFT). We shouldn`t
have to apologize for Microsoft (NASDAQ:MSFT). They make a tremendous
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amount of money. But they`re no longer really a growth company. They feel
more to me like a utility company. And even in the area that has been
their mainstay which is software, they don`t seem to have the cool factor.
That cool factor now belongs to Google (NASDAQ:GOOG), to Android, it even
belongs to Facebook (NASDAQ:FB).
Why have they not been able to innovate as effectively as some of
these other companies?
ULANOFF: You know, oftentimes Microsoft (NASDAQ:MSFT) doesn`t get
credit for innovating. They do Office 365, you know, Cloud-based office
version. They got Sky Drive. You can edit documents in the Cloud. Need
anything running on the desktop.
They`re doing many of the same things these other guys are doing, but
they`re seen as sort of the old, out-of-step company.
MATHISEN: But they often do it second, Lance (NASDAQ:LNCE).
ULANOFF: Well, that`s -- and that`s very true and I think that has
been one of the problems for Microsoft (NASDAQ:MSFT), is that they are not
putting themselves in a leadership position and it`s very few areas.
You know, Microsoft (NASDAQ:MSFT) is throwing a ton at the wall right
now. They`re trying with tablets. They`re trying with phones. They`re
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trying with cloud-based stuff.
And like you said, they`re making a lot of money, but they`re not
grabbing huge chunks of the market like they need to.
The one area where Microsoft (NASDAQ:MSFT) seems to innovate first and
lead is in Xbox and that may be the secret to their future success.
GHARIB: Let`s talk about the future, fast forward to three years from
now. Everything changes so quickly in technology. Who is going to be the
hot software/hardware star of the technology universe?
ULANOFF: You know, it seems like Google (NASDAQ:GOOG), because of the
way they do it, is they just -- they are kind of like a giant lab. They`re
always building new stuff, always trying new things. This is kind of good
and bad. It`s good because you get exciting new tools to try out. Bad
because sometimes, Google (NASDAQ:GOOG) thinks they are all experiments and
they could shut them down at any moment.
But they`ve got that edge. They are willing to try different things
and Microsoft (NASDAQ:MSFT) tends to focus a little bit more tightly and
sometimes can appeal more methodical in their approach.
MATHISEN: All right. Lance (NASDAQ:LNCE), thank you very much.
Lance (NASDAQ:LNCE) Ulanoff, editor-in-chief at Mashable.
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ULANOFF: My pleasure.
GHARIB: Well, it`s not just P.C. sales that concern investors, so do
semiconductors and that`s where we begin tonight`s "Market Focus"
Barclays downgraded the entire semiconductor group, citing weak
revenue growth. According to Barclays, a maturing mobile industry, and the
lack of new big consumer products are hurting the sales outlook.
Here is a look how semis closed. AMD fell almost 3 1/2 percent,
Broadcom (NASDAQ:BRCM) lost more than 1 percent, NVIDA down a half a
percent.
MATHISEN: Susie, although retail sales reports from March were spotty
as expected, JCPenney and other merchants led the S&P 500 today. Investor
Bill Ackman says he believes Penney shares are worth $75 a piece.
And Ross Stores (NASDAQ:ROST) and the Limited were leaders as well in
the market today. JCPenney up about 5.5 percent. Discounter Ross gained
about 6 percent, and L Brands, as we mentioned, the new name for the
Limited, was up more than 4 percent.
The teen retailer Zumiez (NASDAQ:ZUMZ) zoomed past all of them, higher
by 13 percent.
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GHARIB: Acadia Pharmaceutical got a big OK from the Food and Drug
Administration today. Shares of this biotech surged. The FDA saying the
company has enough data for a new Parkinson`s drug without additional
trials. Shares of Acadia gained more than 64 percent, to $13 a share.
That`s the highest closing price in five years.
MATHISEN: And investors bid up Facebook (NASDAQ:FB) in advance of its
Home download that goes live tomorrow. The first Facebook (NASDAQ:FB)
optimized phone will be available at AT&T (NYSE:T) as well. Shares of
Facebook (NASDAQ:FB) gained more than 1 1/2 percent, $28 a piece. That is
still $10 below the IPO price of $38 a share.
GHARIB: And Netflix (NASDAQ:NFLX) rose 4 percent today on news that
it`s adding shows from Hasbro (NYSE:HAS) Studios. Under the deal, Netflix
(NASDAQ:NFLX) will offer its members streaming versions of popular kids
shows like the "Littlest Pet Shop". Netflix (NASDAQ:NFLX) gained $7 to
$173 a share.
MATHISEN: Things got a whole lot worse today for Scott London, the
former KPMG executive, accused of giving out inside information about big
California-based companies his firm audited. They got worse too for his
stock trader friend who benefited from the proprietary information.
Jane Wells now has more on how those dirty deals went down, how much
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money change hands and the civil and criminal charges both men now face.
(BEGIN VIDEOTAPE)
JANE WELLS, NIGHTLY BUSINESS REPORT CORRESPONDENT: Quote, "Insider
trading was like counting cards in Vegas." That line allegedly spoken by
fired KPMG senior partner Scott London to a country club friend who was
reporting on and at times recording information London was ascending to him
in what the FBI says was a huge insider trading scandal involving at least
five companies.
The FBI says this photo shows London accepting 5 grand in cash from
jeweler Brian Shaw, which London allegedly believed was his cut for profits
made on a tip about Decker`s Outdoors which sells Uggs. The feds claimed
tips like that made Shaw, whose jewelry business was hit hard in the
recession, more than a million dollars in illegal profits before the FBI
confronted him and he agreed to work with authorities.
London faces five years in prison and hefty fines, if convicted.
Despite what he`s assumed to be a nice income, the feds claimed London
accepted a total of 50 grand in cash and gifts from his friends.
And earlier we spoke with Brian Shaw`s attorney.
NATHAN HOCHMAN, BRYAN SHAW`S ATTORNEY: When Mr. Shaw came in at the
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beginning of this year, 2013, he came in without any deals. And he decided
to go forward with the government, fully, completely and truthfully. To
date, he has no deals. No deals with the SEC. No deals with the U.S.
Department of Justice or the FBI.
WELLS: One of the more interesting exchanges involved Herbalife
(NYSE:HLF). According to the complaint, London allegedly tipped off Shaw
that Herbalife (NYSE:HLF) should beat earnings in February, and that should
send the stock up. But, quote, he was concerned about hedge fund manager
Bill Ackman driving the price down.
And then later on, after Carl Icahn revealed he had bought a lot of
Herbalife (NYSE:HLF) stock, Shaw told London, "I wish you would have known
that he was going to release that, we could have made some money." London
responded, "Yeah, that would have been nice."
Both men have admitted in public statements that they regret their
actions, Shaw calling his stupid. We`ll have to see if that draws leniency
from authorities.
For NIGHTLY BUSINESS REPORT, I`m Jane Wells, Los Angeles.
(END VIDEOTAPE)
MATHISEN: Certainly, Mr. London faces some jail time if this is prove
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true. I would scratch my head and I wonder, what were they thinking when
they went into this?
GHARIB: One case after another. We see the headlines all the time.
You cannot get away with it.
MATHISEN: Yes. Eventually, they`re going to catch you.
GHARIB: Moving along, coming up: will your neighborhood bank branch
soon be a thing of the past?
But, first, let`s take a look at the international markets closed
today.
(MUSIC)
MATHISEN: Jamie Dimon of JPMorgan (NYSE:JPM) Chase, Lloyd Blankfein
from Goldman Sachs (NYSE:GS), Bank of America`s Brian Moynihan and more.
President Obama hosted top executives from some of the nation`s biggest
banks and insurance companies at the White House today for a regular
meeting of the financial services forum. On the agenda: immigration
reform, job creation, and cyber security, a growing concern for the
industry.
GHARIB: Now, some of those same bank CEOs are in the process of
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making some major decisions about your local bank branch. Consumer habits
are changing, bank branches aren`t as busy and all that pricey corner real
estate may no longer be necessary.
And Kayla Tausche is here with more.
Hi, Kayla.
KAYLA TAUSCHE, NIGHTLY BUSINESS REPORT CORRESPONDENT: Hi, Susie.
Nearly 100,000 bank branches are open for business. They`re costly,
in many cases inefficient. And thanks to better mobile technology and
smarter ATMs, consumers are going to them less and less. It`s left the
industry in a precarious position. No one wants to see its physical
presence shrink, but in the end, there may not be a choice.
(BEGIN VIDEOTAPE)
TAUSCHE (voice-over): Times Square bustles with activity. Its bank
branches no exception.
But these New Yorkers weren`t satisfied customers, which could be
telling for the industry.
UNIDENTIFIED MALE: The last time I came here was to cancel my
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account.
UNIDENTIFIED FEMALE: It`s easier to do it from home than online.
Much easier.
UNIDENTIFIED FEMALE: I usually go to the atm.
UNIDENTIFIED FEMALE: Because it`s easier and I don`t have to deal
with people.
TAUSCHE: It`s not just an urban phenomenon. Mobile banking usage
across the U.S. jumped double digits last year. Smart ATMs and apps are
doing the work bank tellers used to do.
It`s no surprise then that branches across America are shutting down,
1,100 last year alone, the most in a four-year stretch of downsizing.
JONATHAN LARSEN, CITI HEAD OF RETAIL BANKING: We really don`t need
branches as we look into the future to perform basic transactional tasks.
TAUSCHE: But they do for big ticket transactions like getting a loan.
That`s why Jonathan Larsen, who runs Citigroup`s 4,000 global branches,
says the branch won`t go away. It just needs to be where the most
customers are in the big city.
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LARSEN: We`ll probably end over time with more outlets. It`s just
that they`ll be of a different nature and on average, smaller than
traditional outlets.
TAUSCHE: Other banks are onboard. Bank of America (NYSE:BAC)
shuttered 250 branches last year, using the money saved for a technology
facelift at other stores.
Wells Fargo (NYSE:WFC), the largest domestic branch operator, is
experimenting with ways to cut costs so it too can grow.
JONATHAN VELLINE, WELLS FARGO HEAD OF STORE STRATEGY: We`re notabout
closing stores. We`re opening stores. We`re trying to make ourselves more
convenient for our customers.
TAUSCHE: Another bank stalwart, JPMorgan (NYSE:JPM) Chase, building
100 new outposts each year, focusing on financial advisory services and
letting technology handle the simple stuff.
Smaller and smarter, how the industry hopes to keep its branches
relevant.
(END VIDEOTAPE)
TAUSCHE: Critics say the branch has just become an expensive
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billboard and that banks could afford to ax as much 25 percent of them.
It`s a valuable tool for attracting business. Consumers say they do
research online, but for big money decisions like getting a mortgage or
credit card, they want to do it in person.
GHARIB: Kayla, I know you did a survey of a lot of consumer to see
how they feel about their bank branch and whether they would have an
account at a bank if it didn`t have a branch. I know how I would answer
that. But I want to know what the people who responded that.
TAUSCHE: We`re in that situation now, but it looks like down the
road, that`s where the industry could go. We polled about 1,000
respondents, 60 percent said they would not consider banking with a firm
that had no physical presence where they could go if they need to trouble
shoot or had a problem. Thirty percent said, yes, they would consider it.
Nine percent said maybe.
MATHISEN: The only time I ve been in a bank branch recently because
mine has those coin counter machines and I can get my coins counted easily.
That`s the only reason I use it.
Tomorrow, big earnings out of a couple of big banks -- Wells Fargo
(NYSE:WFC), and JPMorgan (NYSE:JPM). What`s the forecast?
TAUSCHE: There`s a little concern about what we`re going to see from
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these banks for two reasons. One, interest rates are still low and, of
course, bank`s number one business is lending. If you`re lending at a
lower interest rate, you make less money. We`re concerned about that.
The other thing is they have been making a lot of business off the
mortgage boom. Because of these low interest rates, a lot of people have
been refinancing their mortgages. That activity is slowing down. So,
analysts are cautious about what we`re going to see from the banks.
MATHISEN: All right. Kayla, thank you very much for being with us.
And still to come, the big gamble Maryland is taking to improve the
state`s finances.
But, first, a look at how commodities, currencies and treasuries fared
today.
(MUSIC)
MATHISEN: Hundreds of good-paying jobs, millions in tax revenue for
cities and states, and the chance for people to win big. It`s no wonder
more states are building and opening new casinos or allowing existing ones
to add higher stakes live table games, like the one outside Baltimore did
earlier today.
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So, will Maryland`s big gamble pay off?
Eamon Javers has our report.
(BEGIN VIDEOTAPE)
EAMON JAVERS, NIGHTLY BUSINESS REPORT (voice-over): There were
winners and losers on the first day of table gaming at the Maryland Live
Casino in the Baltimore suburbs. Table games are new for Maryland and the
owners of this casino say they are happy with day one.
DAVID CORDISH, THER CORDISH COMPANIES CHAIRMAN: We promised aworld-
class casino. Now, we`ve got all the elements.
JAVERS (on camera): This is a casino that was already doing $1.5
million a day in revenue from slot machines. Now that they`ve got these
new table games, they say that number is going to go up by about 20
percent. And they say they can deliver about $400 million a year in tax
revenue to the state of Maryland. And they`re also generating jobs for
some of the local residents.
BREINA RIPPY, CASINO DEALER: I just don`t want to disappointment the
customer. I want them to be happy. I want to give them a good time and,
obviously, I want them to win. But for the casino, I want to take their
money.
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JAVERS (voice-over): And that`s the danger for some people.
STEVEN MIN: I do not want to see people coming here, losing their
house or going any further. Such as credit card debt. Know your limits
and knowing when to stop before you start.
JAVERS: More and more states are turning to gambling to fill state
coffers, and nationally, gambling revenues are expected to hit $37.3
billion this year, nearly back to the prerecession peak of $37.5 billion
back in 2007.
Now the question is, how much more room is there to grow?
CORDISH: Casinos are not 7-Elevens and they`re not McDonald`s. And
they will reach a point and some people think in certain areas in the East
we`ve reached it already of oversaturation.
JAVERS: But not yet. Already by lunchtime, this casino generated two
big winners, one person won $20,000, and another won a whopping $64,000.
For NIGHTLY BUSINESS REPORT, I`m Eamon Javers.
(END VIDEOTAPE)
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GHARIB: From state finances to personal ones, tax time can have a
significant impact on your bottom line, a positive one if you are getting a
refund. The IRS says it sent refunds to more than 78 million taxpayers,
totaling over $270 billion so far this tax season.
Sharon Epperson joins us now with more on where taxpayers are putting
their refund money this year.
Sharon, lucky for those who are getting refunds.
SHARON EPPERSON, NIGHTLY BUSINESS REPORT CORRESPONDENT: It is avery
lucky day for them.
GHARIB: Tell us a little bit about what is the average refund? How
much money are we talking about?
EPPERSON: Well, right now, we`re talking about the average refund for
2013, as of April 5th, is $2,755. Now, this compares to about $2,800 last
year and $2,900 in 2011.
So, the average refund is coming down, but we are looking at a lot of
people happy to get that amount of money.
MATHISEN: Why is it coming down, Sharon? And what are people doing
with it?
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EPPERSON: Well, it`s coming down, of course, perhaps because a lot of
people who are underemployed are not earning the same amount that they
were, and maybe they`re not getting the same refunds. But we`re also
looking at we`re not all the way through this filing season and through the
refund season yet. And those 2012/2011 numbers were for the full year.
So, we still have some time. Maybe some of those big checks are still
waiting to come in.
GHARIB: And what are they doing with the money? Are they saving it?
Are they spending it?
EPPERSON: Well, you know, something has changed in the last year.
The American Institute of Certified Public Accountants did a survey and
they found that 43 percent of those who said that they are getting a refund
this year say they really need it. Much more than they did in years
passed. And this is because of the payroll tax hike. They`re saying they
really need it to really cover every day expenses.
So, what they found is while the majority of people are saying that
were going to save this money, there are a lot of people who are saying
that they`re going to use this money for day-to-day expenses and then some
are saying they`re going to use it for paying down their credit card debt,
and a much smaller percentage that are actually looking at long-term goals
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like saving for college or saving for retirement.
MATHISEN: What`s the best thing to do with the refund?
EPPERSON: Well, the best thing to do is prioritize, Tyler, like we
always talk about. You really need to set out your financial goals, that`s
financial planning 101, and really start to figure out what you need the
money for. Basic expenses, of course, you have to make sure that those are
covered and then you also want to make sure you have an emergency fund. So
many people forget about the key part of their financial plan, and then
also paying down debt.
Those are the three areas where really people focus on, and when they
have money left over, then they can decide what they want to do with it.
GHARIB: Well, speaking of it. So, let`s say you pay down your debt,
and you put money in your emergency fund, you did all your expenses -- is
it OK to use some of that money for fun, for a vacation, or something
special?
EPPERSON: Well, I definitely believe in fun money. In my book, "The
Big Payoff," I talk about you got to have some fun money. But the thing
is, you also want to think about some of these long-term goals. This is a
great time to really jump-start that retirement fund, to really add to that
college savings plan, to perhaps make an extra mortgage payment. And so,
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if you can, that may be a good way to use that big chunk of money.
The bottom line is, though, actually, you don`t want to get the big
refund. That`s what a lot of people don`t realize. You want to change
your withholding allowances to get your cash in your pocket all the time,
so that you can save regularly, or spend regularly if you need to.
MATHISEN: All right. Sharon, that`s good advice. Thanks so much.
We`ll see you tomorrow as we close out our tax tip series with a look at
paying back Uncle Sam without breaking the bank.
GHARIB: And finally, tonight, most 14-year-olds right now are trying
to navigate their way through eighth grade. But not Tianlang Guan, the
Chinese 14-year-old became the youngest player ever to tee off at the
Masters Golf Tournament. He`s navigating the course at Augusta National in
Georgia. The teenage sensation qualified for the first round of this
year`s tournament by winning the Asia-Pacific Amateur Championship and
before play, he was seen shooting practice rounds with Tom Watson and none
other than Tiger Woods, another one of those one-time teenage wunderkind
who inspired Guan to play golf in the first place.
MATHISEN: What a great story.
Tomorrow on NIGHTLY BUSINESS REPORT, JPMorgan (NYSE:JPM) Chase and
Wells Fargo (NYSE:WFC), as we mentioned, report earnings for the first
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quarter. Lots of people watching that one. Monthly reports from the
government on retail sales and producer prices for March, and consumer
sentiment for early April is scheduled to be released.
GHARIB: Got a lot coming up tomorrow. So be sure to tune in for
that.
But hat`s NIGHTLY BUSINESS REPORT for tonight. I`m Susie Gharib.
Thanks so much for watching.
MATHISEN: And I`m Tyler Mathisen. Have a great evening, everybody.
We hope to see you back here tomorrow night.
END
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