U.S. Vets and Others on No-Fly List; Buying into Facebook
WHITFIELD: Traveling by plane, well, something millions do every day without a second thought. Well, not the case, though, if you're on the "no fly" list. And a group of Americans say that they were put on that list, banned from flying for no good reason. And now they can't get off. Four of them are U.S. veterans. CNN's Jason Carroll joins us live from New York with more on this. So, Jason, this has to be pretty frustrating especially when you think you're about to fly and then come to find out you can't.</s>JASON CARROLL, CNN NATIONAL CORRESPONDENT: Right, it's got to be embarrassing, frustrating, all sorts of things, Fredricka. You know, imagine arriving at the airport. You've never done anything wrong and you don't plan to, yet you're told that you cannot board the flight and no one will tell you why or how to fix it. That's the situation that former Marine Abe Mashal found himself in. He was heading to Chicago to -- headed from Chicago to Spokane for his dog training business. Federal agents surrounded him and told him he could not go. He later found out that he was on the "no fly" list. And months later, Fredricka, he says the FBI offered to get him off the list in exchange for being an informant at his local mosque. He declined that offer. He's now one of 15 people who along with the ACLU are suing the government over the "no fly" list. A lower court threw out the case. But an appeals court heard arguments yesterday in Portland, Oregon. Mashal says that being on the list has really hurt him and has hurt his family and his business.</s>ABE MARSHAL, U.S. MILITARY VETERAN: Well, it's very troubling. You know, it's a major inconvenience. It's -- especially for somebody with a family. And that's exactly why I joined the lawsuit because, I mean, hopefully my effort prevents it from happening to somebody else one day.</s>CARROLL: Well, a source told CNN in January that the "no fly" list has ballooned to 20,000 people as government agencies begin to share more information. The government says that this list is vital for keeping the country safe from terrorism. And since the list has been created they've taken steps to improve the accuracy of it. A court spokesman says a decision will be forthcoming very soon. Possibly -- that's at least what we're hearing. But at the end of the day they could not tell us specifically when -- Fredricka.</s>WHITFIELD: So, then, Jason, aside from a lawsuit, if you find yourself on the "no fly" list, what's the process to try and get off that list?</s>CARROLL: Well, you've got to have access to the Internet, because here's what you have to do. In fact I tried some of this. You go to the TSA Web site. And you go to something called a redress process terrorism screening. There's actually a little link there that you can click on. Once you've clicked on that link you're given a number. And you explain what the problem was. And then you have to keep checking back using this number to determine whether or not a decision has been made about your status. But at the end of the day the attorneys representing these plaintiffs say that's not adequate. What they want is some sort of independent situation that is out there for people to be able to access, to be able to go through this process and get some sort of justice. But as it stands right now, that is the only way you do it. You go online, submit a number, and hope that the government decides in your favor.</s>WHITFIELD: Yes. And likely that decision doesn't come in a matter of days. It may take a long time and you have to have a whole lot of patience. All right. Jason Carroll, thanks so much in New York.</s>CARROLL: You bet.</s>WHITFIELD: All right, big news, everyone is anticipating it for the next week. Facebook about to go public. The company will sell 337 million shares of stock at $28 to $35 a share. It could be the biggest IPO in history. So should you buy Facebook shares? Or maybe the better question is, can you buy Facebook? Christine Romans reports inn this week's "Smart is the New Rich."</s>CHRISTINE ROMANS, CNN BUSINESS CORRESPONDENT (voice-over): Suits meet the hoodie, Facebook's Mark Zuckerberg gets rock star treatment on his company's road show but should he get your money when his company goes public? Facebook will price that IPO between $28 and $35 a share.</s>RYAN MACK, PRESIDENT, OPTIMUM CAPITAL MANAGEMENT: Wait about a month after the stock has been released. The mutual funds and the institutional investors are going to be the major ones buying the stock. So when the stock actually opens I do believe it's going to come in probably between $90, maybe even $100 a share when it actually gets released. So let the hype go -- let go down. Let the euphoria go down.</s>ROMANS: Because a lot of rich people get in before you ever will. Investment banks underwriting the IPO gets the first crack at shares. They sell them to their best clients. Hedge funds, big money managers and insiders. They get that IPO price. Then retail investors, the little guys. They get their shot dead last. ETrade is an underwriter of the IPO and eTrade will have some shares available. TD Ameritrade and Charles Schwab, too. (</s>On camera): Limit order. Two words, if you're going to try to buy the IPO. Limit order.</s>MACK: What's your price, what's your budget, and that's going to be very valuable, especially limit order to make sure the system -- you limit the price in which you're willing to pay on a particular stock.</s>ROMANS: The most famous investors will not buy the Facebook</s>IPO. WARREN BUFFETT, CHAIRMAN, BERKSHIRE HATHAWAY: I can't recall in my life buying a new offering. The idea that something coming out, say, on a Monday, that's being offered with significant commissions, all kinds of publicity, everything, the seller electing the time to sell is going to be the best single investment that I can make in the world among thousands of choices, that's mathematically impossible.</s>ROMANS: Before obsessing about an IPO, make sure you're maxing out your 401(k), your balance properly, and have the right mixed of investments. That's a sure bet. Christine Romans, CNN, New York.</s>WHITFIELD: An abused woman sentenced to 20 years in prison for firing a warning shot. At least one lawmaker is saying the prosecutor overcharged the woman. Our legal guys will share their thoughts in this case. And if you are leaving the house right now, just a reminder, you can continue watching CNN from your mobile phone. You can also watch CNN live from your desktop. Just go to CNN.com/TV.