Piers Morgan Tonight with Suze Orman

Last Wednesday, my significant other and I attended a special LIVE show of Piers Morgan Tonight with guest Suze Orman.  PMT is normally not a live show, nor is it a show that runs with an audience.  In the year that it's been on the air, this was only the fifth time there would be a studio audience present so this was a big deal!  As we lined up in the hallway of the CNN-TimeWarner headquarters in New York two hours before show time, the air was filled with excitement.  There was business to attend to first - coats and large bags checked, waivers signed, some "behind the scenes" footage that was shot, and a review with those people who were pre-selected to ask a question during the show.  My beau was one of those people so I got to tag along with him on his prep.  We were escorted through security and seated in the studio about 20 minutes before the rest of the general audience was let in.  There were a total of eight people scheduled to ask questions during the broadcast, and the Floor Manager (Bob) as well as the Associate Producer (Samantha - whom invited us) assisted everyone on how to hold the microphone, where the cameras would be, and in what order the questions were scheduled to be asked.  Of course, since it was going to be a live show anything could happen so every one warned that they may not get an opportunity to ask their question.  My sweetie was scheduled to go 7th and time ran out before we he was able to practice, but he felt comfortable and was excited.  There would be a real-time Twitter wall up behind Piers and Suze for the entire show, and we were encouraged to Tweet and take pictures prior to the start of the show, as well as during commercial breaks.  Sam and another Associate producer, Geoff, as well as their intern, Andy, handled any last minute issues prior to the start of the show, making sure people didn't have gum, and taking pictures of audience tweets up on the twitter wall.

About ten minutes before start time, Piers Morgan and Suze Orman entered the studio to  do the "tease" on AC360 at 8:52pm EST.  A tease is like a promo - ex., "coming up next on Piers Morgan, we'll spend the hour with Suze Orman and a live audience talking politics, finance and answering your questions" - that happens during Anderson Cooper's show.  They greeted the audience warmly and were very chatty with us before and after the tease, prior to the start of the show.  What I was struck by is how they both look exactly the same in person as they do on television.  There wasn't that shock of "wow, I thought they would be different" that I've had other times I have attended television shows.  And because the audience was so small (there were less than 60 of us), it felt like we were sitting in some one's living room, all chatting together.  Our seats were in the very front row, about five feet from the set and ten feet at the most from the desk where they both sat!   I had a chance to ask Piers how his beloved Arsenal played earlier in the day (game ended 0-0 and I guess that's ok?), and it was great that they were so interactive with the audience.  Once the show started, Piers got right down to business.  During the first segment, they discussed Mitt Romney and his recent comments about "not being worried about the poor", the economy and how it relates to politics and the upcoming election.  Suze feels that the rich are getting richer, the poor are getting poorer and the middle class is disappearing.  The country as a business is broken (she'd give it an F right now) and they don't know how to fix the systems that are broken (Medicare and Social Security to name two).  They discussed the difference between the economy getting better and the stock market getting better - which are very different things - and the struggles that American workers are heaving right now.  Suze suggested that people need to become more entrepreneurial and make jobs for themselves because jobs that used to be here in the US are gone, either because of technology or because it's cheaper to hire labor over seas.  She feels that people will get more sadder as the year goes on because the job market and the real estate market aren't getting better, so they don't have extra money to do things with.  Piers made a great point when he said that it is difficult for regular people to understand the message of "spend within your means" when our country's debt is almost $14 trillion.  They debated on whether the US should begin building things again - with Piers feeling that we should (like big, heavy machinery, similar to the times of the Industrial Revolution) and Suze feeling that yes, it would be great but it's not going to happen long term.  And we need to get people back to work NOW, not years from now.  Piers challenged her regarding American companies employing more workers overseas than they do here (Apple was the example he used as a company employing more workers in China than they do in the US) and how he fundamentally disagrees with it.  He feels that American based company should look after their own citizens when it comes to jobs.  Suze agrees, but reminds him that because of things like labor laws and unions it's not cost effective to do that.

During the rest of the show, other topics that were discussed were education, real estate, and ways to make America great again.  An audience member asked about her son going to college with a full scholarship versus attending a high level college with a partial scholarship (Suze:  take the full scholarship and avoid student loans if the prospect makes you feel overwhelmed at the prospect of trying to pay it back).  She feels that you don't need to go to the best school to get the best education - "You make the school, you make yourself, you make your career."  Piers disagreed and doesn't feel kids should even be in this situation and bright students shouldn't be priced out of good opportunities.  Suze doesn't believe that your education makes you, but you make your education.  Another audience member asked about buying a home versus renting.  Much discussion was had about people being nervous to purchase real estate now for various reasons - job market uncertainties, lack of 20% down payment, afraid that the property won't appreciate.  One of the most valuable thing I learned during this segment was that the tax laws are changing in 2013 regarding housing and being in a negative equity position (or under-water as it's commonly referred to). Here's the example Suze gave:  If you bought a house for $200,000, and short-sell it for $100,000 you don't have to pay income tax on the difference ($100,000).  Starting in 2013 you will.  Another topic that was discussed was Suze's development of a new pre-paid debit card and the controversy surrounding it. Some are saying that it's just another money making scheme - something that she vehemently denies.  She pointed out how many of her tools she has given away for free, and will continue to give away to people who need them.  For her, this card was about the 50 million people who can't get credit cards or bank accounts in a world that no longer works on cash.  Suze acknowledged that pre-paid cards had a bad reputation years ago, and they deserved it then.  She stands by her card, and the $3 monthly fee (which includes unlimited credit scores and resports and identify theft protection), and encourages everyone to go to www.theapprovedcard.com and make their own decisions.

The last big segment covered ideas on how do we make American great again and how do we save money in difficult times.  Piers doesn't feel that Americans are broken - we are frustrated, hurting, angry, want the economy sorted out and better government.   Unless Congress can get their act together, he feels that spirits aren't going to get better anytime soon.  Suze reminded people that paying off credit card debt is the first priority because it's bondage and we will never have financial freedom.  If you want to help others, you have to help yourself first. "When you feel less than, you spend more than", said Suze, which is a sentiment that the majority of American's agree with.   Piers feels you can't kill all the fun, even in these trying times.  Suze understood what he is saying, but reinforced that you have to have the money to do it with.  She asked the audience who had credit card debt (both my sweetie and I raised our hands).  So she started asking us questions about our spending habits with credit cards and if it feels good when we make charges that we know we don't have the money in the bank to pay for.  I forgot that we were on live TV, and was just having a conversation with her!  Fortunately (or unfortunately depending on how you look at it) the camera guy was on the other side of the audience and didn't catch my face as I was answering her (until the very end).  It just looks like she is talking to a large group of the audience, although you can hear me faintly in the background.  Thankfully after her last response to me (something about staying home and making love instead of spending money you don't have) they cut to a commercial because I started cracking up with laughter and my face was bright red!!  Towards the end, both Piers and Suze feel that people could go back to enjoying the simple things (like picnics, walks in the park, etc.).  That politicians need to rally the troops - don't just talk but DO something.  People have to be given a way to sell their house or stay in it if they want, feed their kids, go to school, get a job, and do the things that are their birth right to get the country feeling better overall.  Suze reminded people to increase your tax exemptions so instead of getting a refund you'll get more more money per month to use towards credit card debt.  And then, in signature Piers style, he asked Suze what the single greatest moment of her life was and how any times has she been "properly" in love.  There was a visible shift in her appearance - her face softened, her voice got lighter and her eyes brightened as she talked about her partner KT and how meeting her changed her life.  They have been together 11 years and got married in South Africa two years ago. Suze has only been properly in love once - with KT.  It was so surprising to see how vulnerable she got when she spoke of her relationship with KT, and you could feel the shift in the studio.  The pictures of the two of them show two people who are really happy and in love!

After a brief summary where he discussed to upcoming Facebook IPO, Piers thanked Suze and the audience and then we were off the air!  It was a great experience.  Once the show ended, the people who didn't get a chance to ask their question were given an opportunity to ask if they wanted.  My beau decided not to - he was enjoying just watching what was going on around him.  On the way out of the studio, Suze and Piers stopped to talk to a studio member that she was familiar with and signed a copies of his book.  Suze stayed for another few minutes and asked if anyone had any other questions. I asked if I could have a picture taken with her, and she said yes!  I introduced myself, we chatted for a minute about the what we talked about on air, and she posed for a picture with me.  Then she waived goodnight to everyone and was gone.  We stayed for a few extra minutes to have our pictures taken with some fellow Twitter followers of Sam's, were each given a copy of "The Money Class" that Suze generously brought for the audience, and said our goodbyes.   As we walked out of the building and in to the Manhattan night, the entire experience seemed very surreal.  It was different than any other television taping that I have been to.  Maybe because the audience was smaller, and it was a live show.  Maybe because I have never experienced being so close and interactive with the hosts/guests of a show.  Either way, we had an fantastic time and are grateful that we were there!

You can watch Piers Morgan Tonight every evening at 9PM/8PMCST on CNN.  Or follow him on Twitter at @PiersMorgan @PiersTonight.


You can watch Suze Orman on OWN and CNBC - check local listings for times and dates.  Follow Suze at suzeorman.com or on Twitter at @SuzeOrmanShow


Photo credit:  JustJen