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tv   FOX Business After the Bell  FOX Business  July 26, 2013 4:00pm-5:01pm EDT

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money last year. this year it is down 16%. finally, said we're out. [closing bell ringing] david: when even einhorn gives up on the shorts you know the market is serious about growing more. the bells are ringing. today, probably more, sometimes even when the market is not exploding into positive direction, even if the dow end up closing negative, although it is 1.3 to the positive it is an extraordinarily good sign with all the negatives, look at stocks like crocs, look at amazon, which reported bad figures, still these stocks are growing. it shows the staying power of this rally in this, in this market at this time even with a slow economy. all of the indices except the russell 2000, small and mid-sized caps, not getting a break today, down half of a percentage point. liz: not bad. the nasdaq move to the upside first of the here is what is coming up. a look at your front page headlines. sac capital as an entity pleaded not guilty to charges made by
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federal prosecutors that the firm engaged in widespread insider trading more than a decade. sac spokesman said the firm never encouraged promoted or tolerated insider trading. david: here is good news again for the market. u.s. consumer sentiment is reaches highest level in six years, buoyed by rising stocks and home prices. it rose to 85.1 in july up from 84.1. liz: barclays plans tissue securities to investors. the bank will likely reveal its proposals during its earnings call next week. the stock fell on the news. david: according to an administration official the president will not nominate a successor to federal reserve chairman ben bernanke at least until sent. the -- september. the comments come as a group of senators urge him to choose vice-chair janet yellen, not larry summers who they don't want. liz: jpmorgan will explore strategic all the turns tiffs for the physical commodity business. to maximize value it will
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explore a range of option, a sale, spin-off or strategic partnership. "after the bell" on this friday starts right now. david: as the markets all settle in the green, with the exemption of the russell 2000, let's get to today's action. we have scott shimmer horn, chief investment officer whose last stock pick by the way is up more than is a%, not bad since he told you to buy -- 15%. you have to listen to what he has to offer. scott becauser in the pits of the cme. scott, i want to start with you, keeping with a theme that there is nothing negative that can keep this market down, you noticed there's a lot of money that exited the bond fund but a lot of it has not yet gone into equities. a lot of people would say, that is not a good sign for the stock market. you say not so. that is a good sign. why? >> you take the contrarian look at things and you see all of this money that had to go
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somewhere but it didn't come into this market like you said. that means people are cautious. people are overly cautious we're at a top. that usually signals a rally is going to continue. the take what the public sentiment is and you usually go the opposite way in the short run. and on top of that, david, look at the vix. the last three times that we had a selloff, the vix had absolutely bottomed out at 12.20, 12.30. spiked up. we have not seen the spike since it bottomed out. it has gone up a little bit, but not a spike. i always like to take the contrarian viewpoint and really the sentiment of the marketplace, the market typically goes against that. liz: this is stunning. the dow was down 150 points today and look how it fought back. and, scott, it is appearing that the dow will have been up for five weeks in a row. here you go. you look at that. it eked out a gain. that would stand to reason you
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are correct but how long doesn't this continue? at some point doesn't a little gray show around the temples of the bulls? >> it sure does does. these guys are really frustrated back here. i was standing out here a good portion of the day especially midday we were down 150. everybody was looking for a big flush but a continue to the downside. then the gradual boost up during the day. a lot of traders got caught short. i'll tell you optimism out here is not real high for next week going into all these economic reports yet they don't want to fight what's going on because the last couple of times they have they have gotten burned. david: look at amazon. perfect example. >> absolutely. david: scott, this market is trading 14 times next year's earnings. do you think that sounds overvalued? at love people look at that and say, gee, that is not an overvaluation, there is lot more room for this market to grow? scott schermerhorn, go ahead. >> no, david, i would agree. i don't think the market is overvalued at you will. yes, i don't think it is
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overvalued at all, david. i think the market is in normal ranges and we expect it to continue that way. i understand the other scott's.about the economic indicators but markets always trade at valuations. i think what has happened some of the economic indicators created volatility but companies are delivering earnings and that is what people pay attention to. liz: i'm glad you're saying that, scott schermerhorn because you get a lot of nervous nelly, they say oh, the earnings are not good, they're meeting but not beating and a lot of guidance has been not too exciting but if, if how you feel is correct, where are the sectors where people could really jump in right now and make some money? scott schermerhorn. >> liz, i think technology remains very attractive. i think, i think technology is attractive. i think energy remains attractive. there are a lot of bright spots out there. areas less so are some of the dividend stocks which would be consumer staples and utilities. but i think, for example, apple. i've never seen a company go
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from so loved year-and-a-half ago to so hated recently. i argue it shouldn't have been as loved as it was in the past and shouldn't be as did e disliked as it is right now. david: scott, let's take an example. apple is the stock everybody loves to hate. used to be the a stock nobody had anything bad to say about but we got reports today they're still selling product. people like apple product. over 31 million iphones, much higher than expectations. so they, as long as you can sell product and as long as you have a good product and a good support system the stock and the company should be admired, no? >> absolutely. it's very inexpensive. it is one of the cheapest technology stocks out there i would argue and has one of the best brand and one of the highest demand going forward. people were picking through the report. ipads weren't as good but iphones where everyone thought would fall off a cliff came in very strong and we expect to see that continue. now you have new product launches coming out.
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we don't know what they are yet but the company hinted for that. so i think it is a good entry point for investors. liz: scott bauer, i look all that happened. so many people are on the sidelines. we had janet engles of rbc, she has 200 billion in assets under management last hour she says she watches bond fund flows. people were pulling money out of bond fund but they weren't putting them directly into equity funds. so you don't have the euphoria that is necessary for a market top. so there is still opportunity here? >> no i completely agree. that is what we discussed earlier. the money is on the sidelines and typically when you see the big inflows, and everybody is just jubilant over the marketplace that's where the market maybe tend to be like a butter finger and slips up a little bit but we haven't seen that and there's still so much cash on the sidelines and people are saying, we'll get that 2, 3% pullback and i'll put it in. it is not happening right now.
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i would somewhat disagree with the other scott in regards to earnings. top lynum members were good. botulinum members, you know, not so great. i would say this earnings season has been tepid at best yet the market sun believely resilient. david: but scott bauer, one thing i would say about a question whether or not we have too much enthusiasm, look what happened with amazon. sam son loses numbers around yet the stock was up 3% today. that, that, that is some trepidation in my sole whether the market is overbought -- soul. >> i wish i would have dipped at 2.90 when the earnings report came out. i agree with you. who knows why it was up today. it was remarkable. that is sense of what is going on in the general marketplace right here. david: scott bauer, scott schermerhorn, thank you very much, with respect gentlemen.
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have a great weekend. liz: thank you to you both. the race to become the next federal reserve chairman is on. two candidates emerged as front-runners if you're stacking up news reports and d.c. gossip that is. janet yellen, larry summers who has got the upper hand? the man with the inside track on so many things federal reserve, jon hilsenrath is live next. david: he really moves markets on this subject. the president looks to shift the conversation back to the economy in a whole series of speeches that began this week, his big push, inequality. it is job number one for him but what is really more important to our nation to the businesses in our economy? equality or growth? we are going to debate that with an all-star panel you can not afford to miss. coming right up. ♪ [ male announcer] surprise -- you're having triplets.
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david: game publisher activision getting a nice bump today after agreeing to buy back most of vivendi's controlling stake in the company. let's head back to nicole petallides on the floor of the new york stock exchange with more, nicole. >> big news for activation. right when you think of
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activation you think of "call of duty" an other gait games they produce. activision was up 15%. the largest videogame publisher actually agreeing to buy back 429 million shares from vivendi. vivendi had a controlling stake. they will have a stake but not controlling stake. you had act very vision jumping the news up 15%. another great game they make is "world of warcraft." hitting a new high with this big move today. back to you. david: you're too familiar with those games. that's scary nicole. i want to say. have a good weekend. liz: s&p futures are closing right now. this is a videogame that's live with scott bauer in the pits of the cme. hey, scott. >> i wish i was as good as these games as my kids r. been quiet after last minutes closing positive. these telling me after being so bearish earlier today, 1700 is right there were insights. wouldn't doubt if we challenge that monday morning.
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that's what they're tell me here. look for a nice little pop on the opening on monday morning. david: only eight points away and we're there, at 1700. >> that's right. liz: resistance two days this week hitting 1700. scott, have a good weekend. >> thank you. david: fifth week in a row of a good week for the dow. that is good news. the race for ben bernanke's replacement is heating up. democratic senators are circulating a letter to urge the president to nominate fed vice-chair janet yellen. they are concerned about the possibility of nominating larry summers who they do not like, former head of the economic council. liz: who will head the fed? we have a reporter could is considered a fed insider. jon hilsenrath with "the wall street journal" and fox business's very own rich edson. jon, we should say you have so many breaking stories on this issue all the time and they're always on point. let's get right to the leadership here and are we right to say, because all the articles
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say it is either janet yellen or larry summers are we missing somebody? let me come out on that one first. >> that is a really good question. this story has gotten so hot this week. there is a possibility that the two blow each other up and some third candidate comes in and gets the job. when we've been write about this we've been talking about there are other people potentially on the list. one guy to look out for is tim geithner. another guy names roger ferguson who used to be the number two at the fed. right now it is really yellin and summers i think we have to keep an eye on. david: isn't the summers pick kind after feint, jon? seems janet yellen is so much more obamaesque in her extreme dovishness. larry summers kind of queasy about the whole idea of continuing qe much longer. he is known as sort of a centrist democrat. she of course is far to the left on monetary policy plus her
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husband and she, her husband is nobel prize-winning economist who spoke out of against global warming and we have to do warm in that regard. she seems to be more obamaesque, no? >> she is very liberal, no question about that. this is one of the things so fascinating about this story is the constituency for summers is inside the white house. some of obama's closest advisors jack lew, gene sperling, these are people who have long relationships with obama, i'm sorry with summers and obama does too. summers worked for obama in the early part of his administration. the constituencies for yellin are outside of the white house. they're up on capitol hill, for instance. when we talk to people in the markets, most of them would say they rather have yellin than a summers in part because yellin means continuity. if you're in the market you want to see, have some stability in policy. david: jon let's face it, really because yellin is likely to print more money, right? >> that is certainly something
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stock investors would like. would i think bond investors might get a little worried about inflation if they shout she was. we don't hear a lot of that at this point. that is definitely one knocks on her. so one of the arguments is that because she's so dovish and so tolerant of prices going higher she would have to earn her stripes in the markets and be, and tighten policy sooner than a larry summers would. liz: she earned her stripes, rich edson with some senator, democratic senators who have been circulating a letter that i believe they sent to the president. have you read the letter? what does it say? why do they like janet yell minute? >> we have the letter here thanks to our top producer silvia hall who obtained it. what you see there is no direct shot at larry summers. very complimentary of janet yellen, independence, intellectual rigor and willing to challenge conventional wisdom regarding deregulation, traits
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success essential for a successful fed chairman. liz: you think they don't like larry summers because he was a part of getting rid of glass-steagall, the regulation that separated banks from the investment arms of banks and as long as that was in place we never had a dramatic financial crisis the likes which we saw when it was finally gotten rid of no the line i read right there, if anything that was a veiled shot to larry summers. there is no direct link to him in this letter. this is all a pro-yellin letter. these are more liberal democratic senators who written to president obama. that is their concern. many had similar concerns with federal reserve chairman ben bernanke. in his last confirmation vote he lost 11 democrats because of problems on the left, not the center. >> bank regulation, bank supervision is a bbg subtext of this as it advances. not only was summers and the treasury when it was deregulating under the clinton administration but, you know, he
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has close associations with wall street. this is something we're working on right now. but he has advised hedge funds. he advised banks. so there's this this revolving door question i think he will have to answer. yellen is an academic and fed person that is what she has done her whole life. she doesn't have to answer that question. the whole question how summers would perform as a bank regulator is also a very big part of this. david: there is one final point to be made here, jon. you never know exactly what a fed person will do once they become the chair. paul stroller, was the machish hawk that ever existed in that job in my lifetime was appointed by jimmy carter who liked easy money. you never know quite what you're going to get, right. >> absolutely. i think we know what we'll get with yellin. she is very supportive of the fed's easy money policies. we don't know what we'll get with summers. summers is known as a clever guy but not someone who is really
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spoken out very aggressive about what the fed's doing. liz: good to see both of you. jon hilsenrath and rich he had send thanks very much. david: thanks, guys. liz: crocs has come a long way since it launched famous classic clogs 11 years ago. how are the company's latest products doing with fab r fashion conscious consumesser not necessary less here but in asia? we talk to the ceo in a fox business exclusive. he is only here at fox news. david: you have to ask him when they come out crocs high heels. thin you wear big heels crocs. that is what i want to see. government's secret surveilance over internet. it involves some of the big tech companies and some of your most personal information. details you probably don't know about, the government knows about you. how? we'll tell you how. when we come back. ♪ (announcer) at scottrade, our clients trade and invest
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liz: time for a quick speed read. some of the day's other headlines, five stories one minute. first up, federal officials say oil services giant halliburton will plead guilty to destroying evidence in connection with the 2010 oil spill. the justice department said one count of destruction of evidence was filed in federal court in louisiana. google ending comcast netflix promotion due to overwhelming demand. they got video service for three months free if they bought the new chrome cast tv gadget. the whole thing sold out. general motors outselling
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toyota first time in six quarters. they sold 2.49 million vehicles in second quarter. that topped toyota's 2.8 million. samsung and apple have something in common. both are losing smartphone market share. idc reported that samsung's share dropped to 30.4% from 32.2% while apple share fell to 13.1% to 16.1% one year ago. pepsi will not longer label naked juices after all natural. after a lawsuit claimed the juices ingredients don't fit those guidelines. they paid $9 million to settle the lawsuit. david: how can naked not be natural. liz: nekkid. david: once you thought i knew about what the government knows and wants to know about you, the u.s. government is demanding that internet companies hand over user's stored passwords. which companies were targeted by the feds? how safe is your confidential information?% liz: liz macdonald knows. list? >> this is story we're talking
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all today. going little microsoft, yahoo! facebook strenuously denying they're giving the government password information. so now this week we have a house narrowly, narrowly defeating a move that would have cut funding to the nsa surveillance programs. we've got senator ron wyden really upset about this here's the problem. the patriot act section 215 says the government government can ask any private company for any information. that could include passwords. here is what senator wyden said. he really upset about this. >> the american people find out how their government has interpreted the patriot act, they are going to be stunned and they are going to be angry. from my position on the senate intelligence committee, i have seen government activities conducted under the umbrella of the patriot act that i knew
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would astonish most of our people. >> now senator widen is not commenting on passwords just yet but the password scenario is the a worse scenario than what the nsa leaker ed snowden given to the press. that was data mining of phone records. so now the fear is that somebody in the government can log on as you and use your password and then get your e-mails but then do things with your password that you're not knowing b again it is up to the internet company to fight on your behalf because, it is now being settled at court level. in criminal court you could lose. you could lose to the government. the government could say, yes, we can access and get your passwords. so this is where it's at now. right now it is up to the internet company to fight on your behalf. whether do that remains to be seen. again this is a developing story coming out of cnet citing two industry sources. we'll watch this one. this is again a very, very touchy situation. this story broke after the house vote on data mining of phone
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logs. david: liz mack mag -- liz macdonald fighting on our behalf getting information out there. thanks, liz. liz: did you see shares of crocs from last night to today? slightly higher after plummeting more than 20% yesterday. following the company's second quarter results. what got investors changing their minds? up next we'll break down the numbers with crocs ceo john mccar develop. he is only here at fox business. it is an exclusive interview. you've got to hear it. david: president obama hitting the road this week laying out his economic vision but the real question for businesses how to lower their costs, increased economic growth. how do you do that? coming up, steve forbes, forbes media chairman editor-in-chief and darlene miller, a member of president obama's jobs coincouncil. we have a up summit of our own you don't want to miss. that is coming next. ♪ [ male announcer ] if you suffer from a dry mouth
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liz: so this has been one of the most fascinating stories over the last 20 four hours. crocs posted disappointing second quarter revenue this week after an initial plunge of some 20% the stock then rebounded today, fighting back. what is behind the newfound optimism the company? joining us with somebody always on board, john mccarvel, ceo and president. they doesn't like some things in the earnings report. they were worried about guidance and japanese headwinds.
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let's get that stuff out in front. what was the problem this quarter and how can you fix it? >> well, you know, late-arriving spring period, you know was really heavily to explain both here in the united states and in europe. in denver we had snow in may. and that just carried thhough. you know on the east coast you guys have had your weather difficulties all through the spring period. and it just drove us to a decision after memorial day weekend just to become a little more promotional both here and in europe to move through inventory that we had actually purchased for our wholesale business which also saw a slow start to the season. liz: well, now we are in what the last couple of weeks has been a record heat wave. things have calmed down a bit on the east coast but did you see a spike in sales so people get a sense what is going on with the current quarter? >> yeah, liz, we had a significant up tick obviously in june. comp store sales up both in the united states and in europe on
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that run-up in the june time frame. asian comps were up 6% for the quarter. so strong growth again in our asian business, up on the back of an 8% comp in the same quarter in 2012. liz: so you saw in june a really nice move. so i'm going to expect that will certainly show postively. we have a salubrious effect on the current quarter. i will hold up a shoe. this flip-flop looks sort of sufferer, west coast from the '70s. doctor surfer. i love it. i haven't saw pair of traditional crocs. i brought these. granted they were pink, just the other week. i thought to myself i will give crocs a try. i am telling you love them. who came up with the flip-flop idea? now this is something people will wear for sure? >> you know, liz, we've had a chance to talk in the past and i think people don't understand the fact that crocs has sold
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55 million pairs of shoes last year. liz: wow. >> in that portfolio of products that we have, yes everybody gets stuck on the clog but as we talked about the earnings call, our clog business which is very important to us is only 44% of the our business. flip-flops account for over 10% of our revenue in the warm periods, during the spring-summer period. we offer about 30 different styles of flip-flops but i think sometimes people just don't realize, you know, what these 320 styles of shoes looks like because when they walk down the street and see a flip-flop on someone's foot or casual product they don't always think about it being a crock. liz: what they need to know about the flip-flops, if you take a tight shot here, they have little perforated things and they massage your feet. they do. i swear. i love these things. okay, let's get to asia, john. asia is a real opportunity for you. talk about what you can do in the asian market that will
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really meaningfully impact your numbers going forward. >> well, i said last year that i thought in 2013 that our asian business would surpass our americas business. the growth rates are just at a faster clip. it's a brand that is just understood differently. during the call yesterday we also said aroun we said that, what is driving the growth in with our retail store performance, new products. new products accounted for greater than 50% of our revenue during the second quarter. liz: oh. >> people see the brand differently. it is seen as a life-style brand. warmer weather in the southeast asian marketplace in the middle east around australia, great up tick on new products. we think that market will continue to outgrow, you know, the rest of the world for our business going into 2014. >> i can tell you every kid at camp has a pair of crocs and their kids feet grow. every year they have to buy a new pair. great to see you. great to see a company that
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fights back like that and goes forward and becomes more than just a single product. john, thank you for joining us on fox business exclusively. >> liz, we've got your cow shoes for you right here. liz: oh, my gosh. >> these are for back to football season. we relaunched intercollegiate. we have cal shoes for you. liz: thank you so much, berkeley. i am an a lump. what is your college? david: northwestern. can you do northwestern as well? >> we have northwesterns for you too, david. david: all right. >> let us know. liz: i will bewaring that clog i guess. john, thank you. david: this is size nine. problem it is only right one. they are very smart. send us one shoe. i can walk around and hop. liz: i will have the cal shoes. all of you alabama graduates i know you want those too. david: meanwhile president obama has been pushing his economic agenda. what will it take to revive the sluggish economy? two wonderful, great mind joining us. forbes media chairman and
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editor-in-chief, steve forbes and permac industry ceo darlene miller, who is a member of the president's jobs council will be here in a moment. liz: and the death of the summer blockbuster. maybe it has been greatly exaggerated. could "wolverine" prove them wrong. david: 20 first century fox. ♪ the you make a great team.
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>> i'm dennis kneale with your fox business brief. ally financial and related companies will pay almost $200 million to settle complaints alleging the companies wrongfully foreclosed on homes. settlement is similar to one between federal regulators and 13 other banks that ended review of loan files record required under a 2011 government action. t-mobile temporarily eliminating up front payments on
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new phones but it is increasing the prices of some model through higher monthly payments. unlike its rivals, t-mobile charges full retail price of phones over two years but reduces monthly service fees for voice, text and data. if you're looking for love you might want to boost your credit score. according to free credit, roughly 20% of the men and 30% of women wouldn't marry someone with a bad credit report. that is the latest from the fox business network, giving you the power to prosper.
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david: despite your booming took market the economy is not robust. unemployment is too high and growth is too slow. it has been that way for years. the question is, how to fix it. the president has been out all week with his idea on that. we have a small but very impressive panel with their ideas on that. with us, steve forbes, forbes media chairman and editor-in-chief and darlene miller, permac ceo and
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president. she is also a member of the president's jobs council. i'm very pleased and honored to have you both here. thanks for coming in. steve, the president has been very clear this week with his speeches that he thinks the problem is inequality and that is some form of redistribution of the wealth that is out there will fix the problem. let's play a sound bite and get you to react. play the president. >> there is growing inequality, is bad economics.rally wrong, it that's why reversing these trends has to be washington's highest priority. david: so is inequality the problem? >> no. the problem is the all the policies and principles that stand in the way of this economy growing. uncertainty about the dollar. huge taxes. obamacare crushing small businesses. we see redistribution in europe and we see what that's done especially in southern europe. instead of focusing on covering the up the pie, how about increasing the size of the pie? that is what he doesn't get. david: darlene it, has been six
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i mean, we had the trillion dollar stimulus. we had his trillion dollar health care although some of that still needs to be rolled out. we've had tax increases regulation increase. it is his policies. if there is inequality, isn't his policies that led to this inequality? >> well, i think the only way to get the economy back on track is to really do what steve was saying. we need to encourage small businesses and encourage entrepreneur, and reduce the taxation, reduce the regulation and encourage innovation and small businesses to hire. david: darlene, when you're with the president, these jobs councils meetings or his representatives because i know he doesn't attend them all, do you tell him this and how does he respond or his representatives respond? >> they seem to be genuinely interested in obviously creating jobs in the different sectors,
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whether it is infrastructure, energy, or, especially manufacturing. but unfortunately we see a lot of things that stand in our way, and stand in new businesses starting. david: steve, the middle class, the president has been insistent he cares about and will formulate all his ideas about the concerns of the middle class. again, that is the strength of america. i agree 100% of that, but no president has done worse for the middle class than this president. look at median income. over the past, 11 or 12 years, of course came down tremendously as a result of the great recession but it hasn't recovered since? >> no. this is the worst recovery, in some ways even worse than the recovery from the bottom of the great depression. it is government policies that stand in the way. when you don't reward capital, i.e., suppress interest rates. that hurts lending to small businesses. you have tax increases which you mentioned. increased government spending takes resources out of the
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economy. massive new regulations coming not just from obamacare, epa and other government agencies. small business, most of them have small margins. these are killers. david: darling len, one of the -- darlene, one of the things great about the past dozen years low or zero interest rates that helped borrowing costs. if you can get a loan. a lost small businesses can't get one. but do other costs, cost of regulation and cost of new taxation, do they overcome the benefits from low interest rates? >> the costs of all the regulatory and all the un, our health care rising 15 to 20% per year, our utility costs increasing continuously, our wages are increasing. so, we don't see the benefits. we see more uncertainty. and actually, with the large companies, it is the same. and my business is very diversified. so if the big businesses are not doing well, we're not going to
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do well. it depends on all of us in the same playing field. david: we should say, a lot of people casually say there is no inflation. there is inflation, certainly in energy costs. very quick. i'm getting a wrap, but very quick from both of you. one thing, the one thing that the president could do to increase growth and make it easier for businesses? first steve and then darlene? >> put obamacare on the backburner for a while. and start over again so we don't have those regulations and anti-job regulations coming down the road. that would be huge. david: darlene? >> really look at the tax code for small businesses. especially s-corps. and embryce the idea to entice and incentivize small businesses to start to innovate and to grow and to hire people. david: by the way, darlene has the best saying, that encompasses the american dream i ever heard. you are never given a dream without the opportunity to make it come true. i agree with that.
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those are words to live by. darlene miller, steve forbes. appreciate it. >> thank you. david: don't forget to catch steve force and me on "forbes on fox." that is 11:00 a.m. eastern time on the fox news channel liz? liz: david, will the tide finally turn for hollywood this weekend? after just a miserable summer for big budget blockbusters there's a lot riding on "the wolvervine." we'll find out whether hugh jackman's claws and biceps are likely to be a winner. what is a entrepreneur to do when confronted by a raccoon? he gets competitive just like when he is up against a business rival. wait to hear this astonishing story just ahead. stay tuned. event is here. now get the unmistakable thrill... and the incredible rush... of the mercedes-benz you' always wanted. ♪ but you better get here fast...
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david: let has been a feast or famine summer for hollywood and lately some megabudget flops ruled the day but can moviemakers break out of their slump this weekend? liz: dennis kneale he knows and has the answer. dennis! >> after four consecutive film megaps flops "the wolvervine" comes to the theaters. welcome we're good to see you. it could rake up to $80 million in the u.s. that is one of the
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best openers of the summer this is sequel to "x-men origins," wolverine. it stars hue jack man, multitalonned as "the wolvervine" and multitalented he is a also a song and dance man with female appeal. "the wolvervine" opens up in 3900 theaters. simultaneously opens up in 62 markets overseas. cost $120 million to make. one of 20 films with nine figure budgets out this summer a hit by "the wolvervine" would be welcome relief. "the lone ranger" of disney may be the biggest disaster. it cost $215 million to make. probably over 300 million with marketing costs. in the u.s. it has taken in just $83 million. white house down from sony pictures, cost $150 million to make. it taken in less than 70 million. warner brothers "pacific rim quote cost almost 200 million and made less than $75 million.
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"ribtd" from comcast universal bringing in embarrassing 17 million bucks. it is about cops who are ghosts which may be the problem. the crowds are scheduled on some weekends two or three big films opened at same time, slashing each other's wrists but also some of the flicks were not very good. clearly a huge budget is no indicator of success. in fact those four latest flops together cost almost $700 million combined to make them and they have grossed all of $242 million and the studios keep only half of that. the other half goes to the theaters. liz and dave? liz: we're dieing out here. david: that was very funny, dennis. our man, dennis kneale. thanks, man. liz: cops and ghosts. that may be part of the problem. one internet entrepreneur is facing criticism from animal rights activists getting crazy with a raccoon in his backyard.
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david: oh, my god. liz: we'll tell you why he got into the fight. you may change your mind. david: whoa! liz: that i hadn't seen. ♪ lot treatment. axiron can restore t levels to normal in about weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include
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♪ liz: time to go "off the desk." the founder and a partner got into a fight with a return on his property in the middle of
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the night. he threw the creature down a flight of stairs, but only after he says it attacked his dog. this whole thing was caught on video from a security camera. some have it cut out, when viral reaching 6 million page views. he makes it. as opposed to violence against animals. as we super slow-mo that video. he was protecting his dog. this kind of reminds us of another video that win by ross showing a tv anchor from wj are giving a tutorial on what to do during a bear attack. did you see this? according to experts you should avoid direct i contact with the bear, don't run away. instead, back off slowly. razor are still the alamo you're a human. don't yell. stay quiet ellis the bear attacks in this agreement will thing spirit of the bear attacks grow up into a ball when a flat on your stomach. above all, stay calm. david: that is very good to know. very, very good to know. liz: anchors wear flip flops on
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there. david: time for the top three things to watch. number three will be that july is in manufacturing index set to be released on thursday. this is up from the previous reading of 50. liz: the number two thing to watch will be a pair of key housing reports of impending on sales will be released on monday. economists are expecting sales to fall just over 1%, a steep drop from the may rise. we are also getting home prices that are said to be released tuesday. economists are expecting prices on the case sheller index to rise one and a half%, slightly and less than the previous month, but they are continuing decline. david: still going up, absolutely the number one thing to watch next week will be the july employment report which comes out on friday. economists expecting on foreign payrolls to rise by 184,000 down from last month's gain of 105,000. the unemployment rate is expected to drop just slightly
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to seven and a half%. this is the real market mover. liz: and there will be lots of earnings reports. every day on "after the bell." "money" with melissa francis is next. melissa: i'm melissa francis command is what's "money" tonight. if you're bankrupt this manhattan to -- nearly half a billion on a hockey arena. detroit is planning to do exactly. maybe that is exactly what that motor city needs. and how much money to governments make from parking tickets? you could high dive into a pool of it. the days of the golden goose could be numbered. we will explain why. it may "money" today? the absolutely roasted wall street expectations. stay tuned and find that too would is. even when they say it's not, it's always about "money." ♪


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