tv Varney Company FOX Business July 25, 2013 9:20am-11:01am EDT
plan. another repeat of the old. you're not happy. new figures have shown more workplace drop-outs than new jobs and the latest poll show six out of ten think we're on the wrong track. not much joy on the market unless you own a piece of facebook. we're talking a stock price surge. i've never seen anything like this from a big name company. it's going straight up. and you will see it. "varney & company" is about to begin. with fidelity's options platform, we've completely integrated every step of the press, making it easier to tr filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster witour more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.
>> right out of the box. look at this. this stock, facebook, will be the stock of the day. the week, maybe the month, maybe the year. and do you remember how everyone was worried it wasn't making money for mobile ads. they won't worry more. they're making ads from their smart phones and they have 700 uses 1.1 billion monthly uses and look at this, the stock is up huge. stay with us, and watch it go up. and stay with us, too, charles
is going to let us know if it's too late to get in. it's up about 30%. and now, the speech that's receiving negative reviews across the board. president obama is taking more than an hour for campaign style speech on the economy. it was the same, tax the rich class war fare, more taxing points. he wants to talk economy and how well it's doing since he took office. some numbers, 9.5 million and that's how many people dropped out of the work force since the first four months in office and it's more than the number of jobs created on his watch. here is another one. 15 million, how many people have signed up food stamps under this president, more than twice the number of jobs on his watch. today, the president talks infrastructure. he wants more spending. and that's this afternoon in jacksonville, florida. going to get to the markets, they will open lower, is it because of the president? we'll have an answer on that one, and plus, congressman kevin
brady is here, he's investigating the irs. what does he have to say about the president saying it's a phony scandal? listen to this. >> and this endless parade of distractions and political posturing and phony scandals? washington has taken its eye off the ball and i'm here to say that this needs to stop. my mantra?
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>> that's good. that's i don't want to talk about it. and president obama away from the scandal. and scandal, kevin brady within a couple of moments and we're a minute from the opening bell. and here is tres knippa. i know you're not an individual stock kind of guy. i have to ask you about facebook. i've never seen anything like it. that stock is up 30%. >> well, isn't it possible, stuart, that a lot of people may have really lowered their expectations for what the stock could do? because the stock performance has not been that great. let's look at it from the executives point of view and maybe the focus now that they are a public company.
maybe now their focus is the stock price, not necessarily the user experiencee i've actually been a member on facebook, been a user and also been a user on the other side because i do own a small business. i've looked at the ads for marketing purposes and things like that. it wasn't right for me, but clearly, that's what they're trying to focus on and the stock price suggests that it's working. >> you've got it. i'm sort of digressing from a normal subject, but what's going on. we're off and running and the market is going to be down. this is the overall market and the dow jones industrial average is lower down about 17 points and everything gets rolling, we're probably going to be dropping, i'm guessing now, if i'm looking for the futures. probably down, 50, 60, 70 points, and let's go to facebook. i'm going to call it the stock of the day if not the week or the month. more monthly users, more from mobile apps and a million advertisers, do you remember when the concern was, that they had no advertising revenue? again, i have to say it, i've
not seen a big name stock like this move like this before. and i want to bring in ed butowsky. he manages money and i'm looking at facebook at 26%. what do you say? >> well, i think you are absolutely correct on this, stuart, i mean, i've managed money for 27 years and for a big name stock you don't see moves like this, as tres said, this surprised everybody, expectations are lower, but this means that every analyst for the most part missed the growth rate of this company. and it's growing, that means mobile apps are being used, but advertising on-line is a huge deal. and you don't see this. you might see it on an ipo from time to time on a big name stock, but never have i ever, in 26, 27 years seen a stock this big move this much in one day. >> stay there, i'm going to ask you about other stocks in the market in just a moment. the let me move on with other companies in the news, nicole, come in and tell he me about 3m. a dow stock. i know they've made more money.
>> i had so much for you on facebbok, let's talk about 3m of the second quarter earnings on the rise and see what we're doing now, down 1% for this, obviously, a global company and a dow component and they did have sales growth, but it's to the down side. and next care advantages and post it notes. >> okay, give me ten seconds on facebook. i know you've got all of the material stored up there, what have you got? >> i was talking to the traders and they think that facebook is such a powerhouse and remains a mystery what they can unfold and showing that they're doing well in mobile advertising and the huge social app and the fact that they have streaming content and that there really is a lot of undiscovered-- >> all of a sudden, our eyes or the eyes of investors are open and up that thing goes. tell me about amazon, we flashed it briefly below 300, where is it now? >> right now $300.
21 cents a share and so the reporting after the bell today so we'll keep an eye on this and it's higher. >> we've got it and it's reporting profits i think later on today. thanks so much, nicole. i want you to take a look at this, please, gee-whiz stuff from google. they've got a new streaming device, call it the chrome cast and plugs directly into your tv and lets you watch netflix and other on-line video and gone are the days of the bulky cable box on your mantle and google stock responding not at all to the device. down 7 bucks, 895 on google. more gee-whiz stuff in our next hour. the future of retail. what are the stores going to do to get you off line and into the actual stores? they're going to make it a virtual experience in the store. what they're going to do. halograms, cool stuff. intel joins us with that in the next hour, back to nicole, gm. strong profits, are taxpayers
closer to getting their money back, nicole? >> right, we talked about the fact that weaw ford yesterday. gm much of the same story, doing well with pickup trucks, and doing well in north america, and the stock at a high. it was at a high yesterday. another high today. up 1 1/4% and also the fact that they said exactly what ford said, the losses in europe that they've seen the losses have narrowed and gm did well with silverado and pickup trucks. >> 37 on gm. not too long a door stopper, i should say, 223. thank you. ed butowsky still here. all right, ed, we've dealt with facebook and the overall market, which is down close to 60. you're itching to respond to the president's speech, but my first question is, did it have any impact at all on the stock market? >> yeah, not at all. traders, investors really don't listen to what obama have to say any more related to the economy and they're numb to it. he has no impact on the stock
market. >> okay, and that speech was received with a great big yawn. now, waste your-- what's wrong with what the president is saying about the economy? >> well, sure, i mean, stuart, he calls it an economic speech, but it's an economic brain washing speech. what he's saying is the farthest from the truth. things are not getting better to the point where they should be. for instance, i'll give you an example, he'll say unemployment is back to the level that it was prior to him becoming president. well, the rate itself is meaningless. 7.6, 7.7. here is the point. that we have 9 1/2 million people have dropped out of the work force. as a result of that, had we had the people back in the work force, unemployment would be at 11%. we need 350,000 net new jobs a month to get our economy back to a place where we could pay off our debts. and we're at 190,000, stuart. nowhere close to where we need to be. what do you care? wait a second, what do you care? you manage money. you get rich people and you
manage their money for them and when the stock market is at one record after another, why don't you want another three years of president obama on the economy? he's doing great for you guys. >> yeah, well, first of all, he has no impact on the stock market itself. i care about this country and the middle class as well and when he's out there working for the middle class, it's an outright lie and his policies suggest the opposite. when you have a weak economy you have to print money, when you print money, you make the economy much, you know, makes it much more difficult for the middle class to make ends meet and the lower income people to make ends meet. when he says that, he says one thing and his actions are opposite. so it's a brain washing tour he's on trying convince people that things are better and they aren't. >> not working with the voters either the approval polls are down considerably. >> and one more point about that, one more point is that the economy's been growing at 4 or 5%, growing at 1.7 or lower, so
that impacts everybody, we're all in this together and the president is failing all of us. >> and those are your last words, young ed butowsky. thank you very much indeed. i want to look at the market before we move on it a bit more political work. the dow jones average is down 72 points, but that's probably not the big story at the moment. look at facebook. facebook is the story. it's up 6 bucks, almost 7 bucks, it was up about 8. and now, it's up 676, $33 a share. i'm going to repeat myself i know. but when was the last time you saw a big name stock go up 25% overnight? i've not seen that before. president obama, to the economy, dismisses the irs and other scandals, and ask-- and kevin brady is investigating the irs scandal. all right, congressman, a phony scandal? >> he wishes it were a phony
scandal, these are serious abuses and serious scandals and really what it does, washington hasn't taken its eye off the ball of the economy, this president has. what we heard yesterday was the movie groundhog day all again, the economy is still struggling, the president is still blaming everyone, but truth of the matter is, he's still stuck on higher taxes, stimulus, more regulation and those are the road blocks to the economy, but more importantly, i think what he says is i'm not interested, his signal to the public was i'm not interested in working with republicans, and to either get the economy going or to avoid another phony crisis would could occur later this year. >> if the president came to congress and said, look, i want to raise taxes, i want to raise spending, but i want to do a deal. i'll give you something, you give me something. do you think the current state of the congress would allow a peal to be made? >> a bad deal, absolutely not. and he already has his taxes,
and had the spending and did not get the economy in the right direction ywould we take another bad agreement that doesn't move in the right direction. if he were to get off the campaign trail and sit down and say, okay, how do we get the economy moving and how do we get our financial house in order and address medicare and social security? i tell you, he would have open arms among those in congress. those are the priorities. >> this afternoon, the president speaks in jacksonville, florida. we are told he's going to make another call for infrastructure spending, is that dead on arrival, if he even gets to congress? >> you know, infrastructure spending is something we agree on. the problem is how do we pay for it, and what do we invest in, the surplus, huge amount of money, very little went to infrastructure, and by the way, infrastructure takes years and years and years to have an impact on the economy. and which, by the way, if he would have started this process five years ago, maybe then we had he' actually be seeing some
progress. but, again, what we're not talking about is is all the regulation that's really stymieing jobs creation and the president's health care law is really a problem on main street. he doesn't seem to recognize it. >> we hear you. congressman kevin brady, texas, thanks for joining us. >> thanks, stuart. >> okay, check the big board. we're down about 60 odd points as expected. but again, the story of the of the day is facebook, it's up nearly 7 bucks. moving on in the markets, stay in the markets sphere here. the price of oil is down to $105 a barrel. detroit, bankrupt, and in our next hour, we're talking to someone who says los angeles could be as well. two or three years from now. next, a city they're calling a boom town. new orleans, guess why? the answer is next. ♪ (announcer) at scottrade, our clients trade and invest
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>> wii flashed this breaking news earlier. the feds are charging sac capital with securities fraud, wire fraud. these are criminal charges. they're also asking sac to forfeit illegal profits made from alleged insider trading dating back to 1999. that could cost them billions and criminal charges could put the company flat out of business. it's headed by steven cowan. probably the best known hedge fund manager in the world, steven cohen. they're in deep trouble. we're down about 60 points, 60 points down, 54 we're at now. look at the price of gold this morning and here is your gold report. where are we? 1324. we've been hovering around that level for the past week.
can't take your eyes off facebook, nor should you. never seen anything like this before. big name company straight up. a 25% gain for facebook hitting 33 this morning. and well, detroit's bankrupt, new orleans is booming. 8 years after katrina. how are they doing this? joining us is michael hecht. first of all, booming. spell it out. you tell me. >> absolutely, new orleans is by the wall street journal number one most improved in the country. and bloomberg just named us number two boom town in america. >> you told me earlier that you are-- you've got a tech room? >> it's remarkable. forbes had a piece on cities winning for tech jobs. everybody expects it. number two,an francisco and in my mind, the same as silicon valley. number three, new orleans. >> you're kidding me, it's extraordinary. and it's based on data that's
true. we're known for embracing the past and now embracing the future and the turn around. >> you're from greater new orleans, inc., a booster for the city. tell me how you did this. >> a number of factors, one thing we keep reducing taxes and right now louisiana is the fourth best in the country in terms of tax rate. number two for starting a new business. second thing, regulation has been low in louisiana where a right to work state and always given the market freedom to operate. third, this is i think most important is after katrina, the business community game involved. it used to abdicate responsibility, i would say to the political class, but the business community leads taking on the problems and accentuate the moth or eliminating the negative. >> some say you got rid of your problems and 75% of the population than before katrina and essentially swept out a lot of poor people and could have been a problem. >> i would say that our regional population is back to 94%. it's almost the same and if you look at the schools in new
orleans parish, the number of students is exact same level as pre-katrina. our graduation rate has passed the national average. >> you like bobby jindal, the governor of louisiana. >> he's been a total rock star. >> it's highly unlikely, unusual i should say to have republicans in positions of power in a state like louisiana, and i don't know who is in power in new orleans itself. but does it lean to the right of center. typically new orleans has been more of a democratic strong hold and louisiana more republican, but what's interesting is that whether you're a democrat or a republican, everybody's in favor of jobs and what we have now in louisiana which i think is our secret weapon is from the governor down to the mayor and the business leadership and a unanimity, an energy and ability that i don't think any of the state can match. the teamwork in terms of creating jobs is why i think we've got $100 million of investment in our pipeline. it's a new day for louisiana. stuart: have you got the tourists back to new orleans,
i've been there a few times since katrina, doesn't look like they're back. >> and this year close, but by-- by the 300th birthday. and the turn around of our lifetime. stuart: mikes breathless booster of new orleans. >> appreciate it. stuart: did you see what president george bush, bush 41. did you see what he did for the child of one of his secret service agents, shaved his head in solidarity with the child who is fighting leukemia. my feel good take next. ♪ ♪
>> big name stock, tech stock in the news, amazon under $300 a share. reports its profits are otherwise are late this afternoon. we keep asking, which city could be the next detroit? coming up new at 10, someone who says it's los angeles. the pension time bomb there could explode, two, three years from now and the man who crashed the royal baby circus, he's got
nothing to do with the royal family. and funny man andy levy is here and he's going to make us laugh about that and a lot more. something different for my take today. something positive. something uplifting. i know you're used to sometimes harsh criticism of what's going on in our society, but today, i offer respect and admiration. here is my take on bush 41. please look at this, hard to recognize the former president with a shaved head, but at the age of 89, that's what he did. oh, i've got something to show you if i make it to that age, but mr. bush did it to show solidarity, to support that little boy who is battling leukemia, the son of one of the bush's secret service detail. bush? two daecades after leaving the white house, i remember seeing him in tears, reading letters at
the death of their own daughter rob robin. and that's the mark of a decent man. untouched by scandal in a career that spanned six decades. and that's the mark of an honest and faithful man. he hasn't disappeared from public view. like most people of his age. he's left the political arena, but uses the prestige of his former office and the warmth of his personality to keep pushing for something good. something helpful. and this man gives. so let me leave you with this, this image. little patrick shaved head bush 41. and what a guy. she knows you like no one else.
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i have not seen that before. charles: a lot of this is expectations. they had a quarter that no one could believe. last quarter it was just 30%. they are proving that they can make money. stuart: rolling in from smart phones. the ad money is rolling in. that is why the stock price is up. charles: they had to prove that they could do it on a mobile platform. stuart: charles has an entire making money special tonight at 8:00 p.m. it is called make your market. charles: it will be phenomenal. stuart: let's build this thing up. the feds charging security
fraud, wire fraud. these are criminal charges. it will cost them billions of dollars if they are forced to pay up. steve cohen, prosecutors will hold a conference at nine eastern. if you file criminal charges, you put them out of business. >> he will trade his money for now. you are absolutely right. they launched this investigation. they are sort of acting like it is no big deal.
stuart: the charges, he should have known about it. he said he did not know. therefore, criminal charges. charles: in this industry, that is a big deal. it is critically important that you be able to supervise this. one bad apple has caused lots of damage for these companies. stuart: a moment ago we were talking about facebook. do you remember qualcomm? charles: of course. stuart: nicole petallides, come on in. you are following qualcomm today. nicole: of 4.25%.
revenue beat the street. what is interesting, there was concern about slow growth for smart phones. do not worry about it. they are doing great. stuart: you better tell me what is going on. nicole: they had to discount a bot of the shoes. take a look at a ten year chart. this stock was soaring with $75. look at it now. i happen to like them.
i broke down and bought a pair. my husband bought them in 2005. i laughed at him. i finally got on board. stuart: we all know detroit bankruptcy story by now. if los angeles does not fix it pension problem, it could be two-three years away from bankruptcy. california pension reform group. you are saying if los angeles does not reform its pensions, bankrupt two or three years down the road. stuart: detroit has acquired
bankruptcy. that will allow a federal judge to go in and say you get this. you creditors, you get that. i think federal bankruptcy is the only way you can control and change those union contracts. will that happen in los angeles? >> well, the pension costs have grown from 3% from los angeles budget in 2003 to about 18% this year. that is a huge piece of their budget pie that is crowding. unless they get a handle on that, they will fail. sadly, it looks like the city is not yet ready to confront that. stuart: is that the city or the unions? >> it is unlikely.
they can either have a soft landing or they can wait until they have all of the credit cards cut off and they literally have no more money. stuart: that is your prediction. they will be kicked into bankruptcy. >> yes. they cannot muster the courage to change the benefits of current employees. stuart: thank you for being with us. nicole: this is a big story. you had dr horton which is not up there. down 81%. let's not leave out the ten year
bonds. stuart: the stock of the day is still facebook. right now, facebook is up seven dollars. again, you do not see this very often. i have never seen such an adverse negative response. fox news reporter is with us. the president makes his big highly touted speech yesterday. the reaction this morning, pretty critical.
what are you doing about inequality? aren't you concerned that the president simply cannot address what is wrong with this economy and simply blames his opponent? >> i am concerned that the president cannot get anything done. he kind of goes and hibernate after a while. there are concerns that the republicans are living election to election. i am concerned that the minute this election was over, the entire class decided to talk about hillary clinton. you are right. there are real issues out there. people are suffering.
stuart: just not there with ideas. 9.5 million people have dropped out of the workforce. in that time frame, the president on his watch, 7 million jobs are being created. 7 million jobs created on the president's watch. these numbers do not add up. the value of the wages is down. >> agreed. you would say, none of the stuff has been acted upon.
stuart: at the end of a four-year period, you cannot turn around and say things are not better because the other guys -- >> the market is better. unemployment is better. people on wall street are doing just fine. stuart: the best middle class is getting worse off. >> i disagree with you. charles: the president used inequality more than growth and opportunity yesterday. here is what i am telling you, when the president says
inequality is morally wrong, he he i on separate laws. inequality is wrong, but what he is talking about is outcome of effort. he is demonizing capitalism. what he did yesterday -- >> did you hear the part where he said we expect a quality of opportunity? that is what he is talking about. charles: i don't owe you anything. president obama is suggesting that i do. >> are you done yelling at me? charles: i am not yelling at
you. where is the inequality? >> certain kids from birth have more access to healthcare. he is talking about expanding the opportunities. stuart: we are out of time. we have to go. much more on the breaking news story. criminal charges against the hedge fund guy. ♪ [ male announcer] surprise -- you're having triplets.
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he was making money doing it. stuart: he should have known. that kills the company. >> this is the first major company to be indicted. eric holder, the attorney general said we do not indict big companies because they are systemically important. they believe that sac is not systemically important. stuart: steve cohen headset. high-profile guide. is there an element of politics in this? >> i think that it is a legitimate question.
the political thing comes in this way. they did not have a financial crisis case. they did have something sexy. insider trading against big players. they will write this forever. stuart: 1999, the charges or the attempt to crawl back goes back to 1999. billions and billions of dollars. charlie: 1999, i believe, was one of their better ones. 2000 was good. in 2008, they were flatter. conceivably, they can call back a lot of money. colin's massive wealth is $9 billion. about eight of that is in the
funds. just think, they can basically cut his net worth by a huge percentage. they will go after this money. there is no dow about it. charlie: one black eye after another. hedge funds, i would not put a dime in a hedge fund. a lot of our viewers go into hedge funds. why pay that type of money if they cannot cheat anymore? stuart: check this out. hologram in stores. is this what will get you
shopping in the stores again? just look at facebook. ♪ the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity.
>> smile if you own facebook. facebook is up 25%. very good earnings, very good profits. over a billion monthly users, 700 billio700 million daily use. charles, going to make some money with the company. charles: a lot of the viewers thought it. it is up a little bit now. at least a new 52-week high. the reason it is coming back a little bit, the cofounder just went into a calcoma.
you may remember this, enabling people to search the context of the bible on a compact disk. i think that is hurting the stock but the news is phenomenal. the stock hit 33, may go higher. the other one, angie's list. disappointing the street. at least you are honest. charles, good stuff, thanks a lot. many people have turned to online shopping to avoid the in-store experience. the crowd, the lines, you know it. what if your experience a lot more fun. brian david johnson has some new technologies that might make you
want to go back and play bricks and mortar store. first of all, holograms. i think of holograms is a 3d visual image. you guys try to bring them into a store? speak of their coming into stores. imagine walking into a store, getting tracked with any product with super high quality. you can actually bring your inventory from anywhere and people can play around with it. stuart: it is a visual image, right? >> it is a volumetric image. stuart: i walk into menswear department and you show me a suit. that kind of thing. >> you can channe it, look at different fabrics, look at how it might look on your body. it will give you a way to interact in a way you cannot today. the joke used to be 10 years.
now, it is coming closer, i think it is about eight years away. we have the ability to capture the images, the ability to put it out there, but most importantly we have projectors, the projectors are just coming out. stuart: 3d printers, we covered the story a lot on this program. you are going to incorporate 3d printers in a store? >> 3d printing can radically change the in-store experience because not of the things it can print, but the actual store itself. imagine being able to print the store and change it the next month. stuart: that i don't understand. >> the longer talking of a scale in that little box, imagine being able to print this desk, print a different wall. that is the level we are getting
too. you can print different fabrics, different plastics, no longer a little box. that is a little further out, 15 years, but you will be able to see the early beginning pieces of it, see it with architecture firms being able to print interior designs. stuart: you lost me on that one. i think of drones as a way to kill people from a distance but you propose to use drones inside stores for what? >> to move around product but i also see it as a link between the actual retail stores. stuart: don't know why we're showing the deathwatch killer thing right now. >> but for saving people's lives. you cannot get out to get your medicines. retail store bringing that to your front door. stuart: you think that is coming? >> very soon. the quad copters have the
payload right now. imagine how people will act and interact with technology and make people's lives better. stuart: we appreciate you being with us. appreciate it. the royal baby's name. the town crier. all from the funniest guys we know, he is here. talking about all those subjects. anthony weiner. ryan braun. he will make us laugh after this. friday night, buddy.
charles: all this use of voice and video. that is what they do, networking equipment. visa beat by $0.09. asia-pacific up by 13%. canada up 5%. latin america up 13%. las vegas sideways move at a play on china. and crib advisor. look at tripadvisor. quarter over quarter 25% year over year, up 45%. growing all over the world. 155. very little to do with money printing. this is like a long two old guys sitting at chess four years. stuart: all right. do you remember this guy?
the town crier who announced the royal baby birth turns out no caps whatsoever to the royal family. he just crashed it. red eyes family man is here to make you and me laugh. i think it is funny he crashed and had nothing to do with the royal family. >> had this whole thing prepared sitting around watching tv, surfing the internet, reading books and one day you get the big call and you go out and do it. every six years later you get another big call. i found out this guy showed up after getting a tip from a journalist kate was about to give birth. what kind of security is going on there? how did this guy get in? stuart: he lives just outside london. jumped in a cab, he is the town crier. off he goes and appears on the
steps. >> and i guess he emcees weddings and bar mitzvahs and stuff like that. look, good for him. you were one of the people on here who said this was the official announcement. we have an excuse, stupid americans, we see a guy dressed like that, they are doing their thing. you should have known better, so shame on you. stuart: it has been a while. we're moving on. charles: this guy is having a better day than facebook. stuart: ryan braun. make a left about a guy that lied about steroids, comes clean and is out for the rest of the season and lost a fortune. >> i guess it is not all that funny. the worst part for me as somebody who is jewish is ryan braun suspended the rest of the season, davis got sent down to
the minors, it is a bad year for the jewish in baseball. charles: what about jack lew in treachery. >> we're talking about sports. there are so few of us, to see this happened to two guys in one year is a bad year. stuart: do you play any kind of sports? >> yes, chess. stuart: weiner, need i say more. >> here's my thing with weiner. i am tired of it. i have no sympathy for her whatsoever, they are clearly in this together, it is about power for them. i busy feeling as if you have to give it up as a wife at press conference and talk about how i almost left my husband because he can stop sending pictures of his junk to people, get out of public life, get out of
politics, moved to a small town somewhere. the lawyers, do some pro bono work. get away from the public. enough already. i am just sick of it. slate.com is saying weiner with using this name carlos danger. i put my name in, turns out my pseudonym is charles payne. stuart: do you have anything to say on facebook? >> the mobile ads are doing better than they thought. literally all i know about it. i'm not even on facebook. stuart: why? >> it is just not my thing. i am pretty active on twitter. i was at lisa and i decided to take a little break because people are stupid. stuart: what kind of messages
would you get in the middle of the night? >> "redeye" is usually a trending topic while it is on. stuart: staying with us respond to president obama's speech. what can we find that was funny about that? and here's the story he was laughing about last night. paying women to put ads on their thighs. after this, we will be back. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, -branch seminars... plus, thr live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody.
stuart: we have a few more people. a modest increase, this is i a o jobs recovery though. no impact on stocks whatsoever. more economic data. durable goods are higher, 4.2%. you strip out aircraft and you ha zo gain in durable goods orders. let's move on to research the mac uk researchers with the economic timebomb that will started t cultivating the financial counselors is of the worlds changing climate. it could cost $60 trillion. that is according to the
♪ ♪ ♪ [ male announr ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. but hurry, offers end jy 31st. stuart: president obama speech on the left. the very far left. democrats in washington comparing the fight over obamacare to the civil war. here is what he said. "this is gettysburg. this is the big rattle.
after this the civil war was pretty much down south for the south. that is what is happening for the forces against obamacare." however the majority of you, 53%, favor full repeal. charles commented that reference to the civil war was a tad over the top? charles: i really don't. the only thing pushes divisiveness, hatred, racism. they really do want us against them. they've cobbled together a list if you are gay, lesbian, black, hispanic, young, old, women, elderly, republicans listen to and the indifference the president talked about.
these two names correlated for the quarter. stuart: i see google is $11 despite that the feisty plug into your tv to make streaming so much easier. the stock is down 11 points as we speak. andy leavy still with us, i know you are breathlessly awaiting the story of japanese advertisers paying women more than $100 per day to put ads on their thighs.
there we have, or the permanent tattoos? >> i think they, on a little thing in you put it on and go like this. you're going to want people to keep changing the ads. the company could go out of business, for a movie or something like that. stuart: on their thighs, why their thighs? >> the idea was a place that guys are allowed to look and women are allowed to bear. if you're wearing a short enough @kirt, your thighs shows. stuart: every time i have worn a short skirt recently i have gotten looks. in new york though. >> would you do this? stuart: absolutely i would. if i was a young female
attractive, they would pay me. male, elderly, totally unattractive, i think i would have to pay them. president obama speech on the economy. i'm going to say fell flat yesterday. >> the president is capable of giving excellent speeches, back in 2008 when he was first running i would describe his campaign speech as being in three parts. the first part would draw you in, reasonable sounding points, great delivery, the second part getting to actual proposals of specifics and you start thinking that is never going to happen and if it did how would we be able to pay for it? it makes no sense. the third part would be the soaring rhetoric making you feel good about the future, america, the fact we were probably going to colonize the solar system and conquer the universe.
it was all the parts where you're sitting there saying how are we going to pay for this, this is never going to happen, this doesn't make any sense. like 80 minutes. stuart: it was an hour and 10 minutes, an hour and 15, something like that. >> you work with stocks and numbers and people trust you to get this information and they act on your information? charles, now i get where you're coming from. it makes perfect sense now. stuart: overall i give you an eight out of 10. eight out of 10 is 80%. i give you 100% for getting out of bed before noon. speaker that was the rough part. stuart: you realize you and i live in exactly opposite time zones.
could you do this job? >> this is uncivilized. stuart: thank you very much, indeed. see you soon. big breaking story we're following today. criminal charges against sac capital. one of the biggest hedge fund names there is right in the middle of all this. wire fraud, securities fraud, the fed wants to take back profits of way back to 1999. billions of dollars from one of the most successful hedge funds there is. prosecutors holding a news conference at 1:00 p.m. we will be there. we will cover it for you and more next. any last requests mr. baldwin?
stuart: to detroit. on this program we looked at two other cities. los angeles, we are told, los angeles is close to being the same as detroit, bankrupt two or three years away if they do not fix the pension problem. new orleans polar opposites. polar opposites. if detroit's bankruptcy a chance to start over again like new orleans with katrina. john stossel is here. i think you say yes. >> may be. maybe you can start over. but this government is still micromanaging, just crazed with regulations, bragging we're going to close 20 businesses every week. stuart: are they saying that about detroit, really? >> yes.
regulating them. stuart: they are boasting they are going to close. >> 20 unlicensed businesses. stuart: what would be the rationale? >> they are not licensed. stuart: you can make me laugh better than he can. >> they have a horseshoe. but you cannot just fire people. they have twice as many government employees per citizen as other citizens. they have a ways to go. stuart: that got me. ounlicensed businesses. i want to hear more about it. >> 9:00 tonight. stuart: 9:00 tonight, that is going to be good. you heard my take, now you have a chance to sound off aftee this. at a dry cleaner,
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stuart: my take today was all about george hw bush shaving his head in sympathy with that young man with leukemia. suzanne says that was lovely, stuart. thank you for reminding us what integrity and kindness looks like. says this is what we should cover more about our presidents. i love it. thank you very much, everyone, appreciate it. yours. dagen: thank you, stuart. connell: charges against five men accused in what is a worldwide hacking scheme talking about big money, 160 million credit card numbers, or mice. dagen: the government says this is the largest hacking and data breach scheme ever targeting major corporate networks and resulted in hundreds of millions of dollars in losses. members in new jersey are coming out and also charges
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