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tv   Varney Company  FOX Business  April 16, 2024 11:00am-12:00pm EDT

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>> are we going co-tonight coopering -- to continue to bring people into the country that hate this country. they hate america. >> i that view iran as a pivot point within the middle east. wrongly in my opinion, but there's no other explanation why they would allow electricity sales and gas sales to be accumulating billions of d ollars. >> never have i seen in 40 years of practice 50, more than half the panel raise their hand and say i can't give the guy a fair trial. terrible. >> this can be a collusion, shall we say, between state actors that selectively create an impression of something that's not there. ♪
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stuart: it's a really nice day in new york. a deserted sixth avenue and country strong by blake shelton. it's tuesday, april 16th. look at that market. down again largely just like yesterday. not quite as sharply but down. nasdaq up 36 and s&p up 15 and dow is only up because of strength in one particular s tock, united health. big tech, where are they going this morning? mostly -- some of them higher. microsoft up a bit, meta up 96-cents and amazon 183 and alphabet and apple, apple back below 170. the 10 year treasury yield this, is a problem for the market today. up again, 4.65% on the 10-year treasury. now this, it was outage yous, there -- outrageous, there must be consequence and on monday a coordinated campaign of disruption deliberately designed to inflict pain on americans.
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you've seen the scenes of chaos and golden gate bridge shut down for five hours by the anti-israel crowd and cops stood there and let it happen. in chicago, access to o'hare airport blocked and travelers had to drag their bags to their flight. in new york, the brooklyn bridge shut down, snarling traffic, a young man waved a hezbollah flag in america. there were disruptive demonstrations all across the country and protests in blue states were the biggest and most disruptive. they were united in support for hamas and incredibly iran. it's crazy to see young women backing the mullahs that killed and tortured women for not w earing a hijab. they were united in hating america. how would you feel if you were a ambulance trying to get to the hospital or parent picking up children from school. these people do not care. i think we should do something about it. we can't have a fifth column inside our country deliberately disrupting our lives. we can't have our politics
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corrupted by violent minortism the president should speak out and condemn this. police should break up these demonstrations, and politicians should support the bill introduced by senator marsha blackburn to make it a federal crime to block highways. third hour of varney starts now. ♪ stuart: jimmy failla is with us and used to be a new york city cab driver. how would you feel if you were stuck on the brooklyn bridge? >> first a point of clarity, a lot of people on the brooklyn bridge are mets fans that want to jumped much. that's something you come across in new york city. there's two levels of indifference here and one is the level of protesters and the lack of consideration for their fellow human being, who might be in a ambulance, who might be on the way to a medical emergency
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or heaven forbid late for work for job interview or something of consequence. they're showing the level ovendurance they are to the suffering they cause and number one is no way to win people to their side and number two is a larger problem coming to the white house. they don't want to speak out and condemn this because the pro hamas kakas is a significant p er -- caucus is a percentage of what biden needs to win m ichigan. he can condemn gaza and the p rotests and not signing anything that would federalize the law to block highways and this is what they do. but what's amazing about it, s tu, they're not doing it in the name of progress because there's no progress that's going to be made this way. it's more of a hey, look at me. that's what protesting has become. some are getting paid. others just show up to protest like following the greatful dead around the country. we're going to see climate change this weekend. we're going to defund the p olice. that's the world we're living i n. stuart: got to do something about it. >> terrible. i would support the law but what
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i'd support more whole heartedly in the short term is letting police do their job. you have a right to peacefully assemble. you don't have a right to hold me hostage and shut down an airport. stuart: i believe the police in san francisco are charging the people they arrested on the g olden detail bridge. charged them with imprisoning people in their cars and endangering in some kind of conspiracy to shut down the country. it's serious stuff. >> this should end and we should be able to go back to o'hare and miss our flights the old f ashioned way. not on me. stuart: this just happened and coming at us, npr has suspended the veteran editor he'd accused them of losing america's trust with left wing bias against donald trump. he said that his network had deliberately damaged trump. he's been suspended for five d ays without pay. i think he was suspended for telling the truth. >> 100%. this validates everything he
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said. his biggest critique of npr is that they weren't allowing diversity of thought. the fact that he's even s uggesting diversity of thought is like well no, you're s uspended. which is like if you accuse me of being a alcoholic and i refuted that allegation by c hugging a bottle of bourbon, i've kind of made your point, have i not? that's what they're doing. he's like they don't allow diverse tiff of thought. they're like you're fired. stuart: it's outrageous. >> of course it is. we shouldn't be funding this. this is outrage. america needs -- you know they like to say america needs to have a conversation. it never happens. the minute you offer a counter point, they're like you're a dirt bag and your wife is a pirate hooker or something. it's all character assassination and getting down to the basis, protesters can clog bridges and nationally funded radio should not be able to stifle opinion. this is a scam. stuart: absolutely. you always manage to make me smile even when discussing the most serious of subjects. >> people think i have a skill
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but it's the drugs. thank you. i kid. stuart: i'll watch you and make sure to watch you fox news saturday night 10:00 p.m. eastern. jimmy failla, you are all right. thank you. check the markets and going from politics to money. on the market right now, very modest gain for the dow industrials and minor league losses for s&p and nasdaq. mike murphy with me for the entire hour. i know what you're going to say we >> we have to address this and earnings are coming in and good earning ands in the past over the last several quarters and solid earnings means stock price
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goes up. right now it's really the macro-picture and what's going on with 10 year and that's w hat -- when is the fed going to come to the rescue and start cutting rates. >> the futures are still telling us better than 50/50 chance they do come september. the more data points that come out i think are making professional money managers traders and start to doubt that. that's why you're seeing the markets sell off. unlike it we go up 10% every quarter and call it a day. this pullback is orderly. it's fine however, we can't just let the 10-year continue to move
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higher. interest rates to continue to move higher and expect that it's not going to hit the earnings of these companies and it would then impact the market. for now stick with the plan. we'll take action at some point this year and not going to get out of hand with 10 year spiking over 5%. stuart: thank you, mike. stay with us. lauren has the movers and l ooking at morgan stanley. lauren: up 3.5%. ceo said investment banking momentum is building and rose 16% profits and everything better overall. good report card. stuart: piedmont lithium. lauren: released re--- they rea permit to develop one of the cheapest lithium batteries in north carolina. they first applied for the
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permit in august of 2021. think about that. three years. and this massive ev push and you're just approving it now. but clearly there's opposition and a lot of people in north carolina don't want to live next to a mine and worried about water. stuart: not in my backyard. happens all the time. tesla, are they done again? lauren: what a week, or year for them. down almost 40% this year. cutting about 15,000 jobs worldwide and analysts say it's not a supply problem, tesla, it's a demand problem. finding new ev buyers is getting more difficult. kelly blue book put out average car prices and new car prices coming down about $47,000. ev prices going up $54,000. so it is still more expensive on average to get in an ev. when we do a quick check of the share, tesla shares down 35% this year. stuart: should i pick up tesla on a bargain at 156?
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>> you should. lauren makes very good points but looking at the stock, you're looking at a year and two years on this name. there is a market for them and knock on tesla last year was all the competition and all the competition is falling by the wayside and i believe that elon musk will get this right and i think he's the right man to do it. when this turns as you saw with the row bo taxis and turns q uickly. stuart: mark cuban asked if he sends money to the government when he's in favor of billionaires paying their fair share. he said i pay what i owe. cannabis delivery service t hreatening to go on strike. we'll tell you why. and a record number of chinese migrants, chinese nationals have been arrested crossing the southern border. most of them go to san diego,
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california. kongman darryl issa is here to discuss that next.
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there's people that don't want to get caught and what you're talking about, the two groups of migrants that came across yesterday about 100 each. they cut through the wire and they're able to reach the texas side of the border. trails above new mexico and scouts didn't like when the drone found them and tried to take it out with rocks and a group of young men on the mountains and cars pulled into the parking lot at the base of the mountain, the young men got word and scrambled down the trail to cars that were waiting for them got aways crosses the border and fleeing and never engaging. an investigation is underway into an incident in which a cardsman discharged his weapon.
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not a lot of information is available above and beyond that just at the investigation is underway. stuart. stuart: mike, thank you very much indeed. 24,000 migrants crossed the southern border in the last six months and kongman, what -- congressman, what happened with the migrants and where did they go? >> they don't even pretend their here because of problems at home baa say they here -- but say they're here for jobs and this is about people needing to flee crime and% cushions and now it's very simple and you want to come here and come here and we obviously are in mainland china
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and it is easier to get in and it is easier to study the nefarious set of words to answer questions and say they might have a credible fear in their home country. and they don't do that anymore and i'm here and i want to job. doesn't matter come in by speedboat or port of entry or cut the fences and come n . they're all being given tickets to where they want to go in the united states, even though they pass through multiple other countries on their way here, they chose america and america is in the choosing between them. stuart: they get ticket -- who bias the tickets and are paying for this? >> you do. you do you buy the tickets and
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pay for it. your border patrol agents and regularly 737s filled on their way and to wherever they then connect to. when you go through all the tsa hassle with the real id, they don't. they just get on the airplane. stuart: california is suing huntington beach for the new law requiring voters to put id in order to vote. mass migration and what's wrong with them and only citizens might vote. they like the idea that anyone
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who has an address and likely to get one of these mail in ballot and fill it out and send it in. today it's almost a given that a great many do and huntington beach is a place where republicans get elected and the state doesn't want that. stuart: the attorney general of the state of california, he's the guy that gave driver's license to illegal migrants and he's the guy in charge of health and human services, which i believe is in charge of running the border. what's wrong with this picture? >> they want to let as in people in before the 2030 census and they're doing a great job and if biden get as seconded term, we'll have 30 million or about 10% of the total population b
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eing new, illegal immigrants, and they will count toward the census ask change where and how americans get to vote and the president's banking on that being the favor of his party. that's the secret. stuart: workers at largest cannabis company in america are threatening to go on strike. ashley, what's the problem? ashley: well, usually stuff and threatening to walk out over pay and working conditions. nearly 600 workers at 11 depot locations owned by a company called ease, it's a cannabis delivery operation in southern and northern california, and they say they may go on strike. ease by the way founded in 2014 in san francisco with millions of dollars in venture-backed funding including from snoop dogg, who else.
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the company is preparing to maintain operations in an event of a strike and workers say they've voted to authorize a strike if no progress is made one of the bustiest sales days days in the cannabis industry. stu. stuart: who could forget. ashley, thank you very much indeed. coming up, protesters gathered outside of vice president h arris' home and want them to declare a climate emergency and
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end the attacks from israel. president biden kicking off a three-day tour of pennsylvania and the plan meant to going it r tax plan going after the w ealthy. steven moore is here to contest that. he's next. ♪
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stuart: on the markets this morning. it's not that much movement, frankly. the dow is up 100 points but that's mostly united healthcare, which is popping -- it's a dow stock. that's united health up 5.5%. this is interesting. mike murphy is with us for the hour and that company, united healthcare, that's one of his stock picks. you know, he's a little late to the game. it's already up 15%, why should i buy it now? >> well, late to the game for today but the stock sold off from $555 a share down to mid 400s and they had a big cyber attack and stock price fell dramatically and the stock down about 80 points from j anuary 1st, year-to-date. came out with earning ands they weren't good but extremely good. 10 0* billion in revenue and the
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cane said they're doling with the fallout from the cyber attack. once they get past that. do you remember a time when your health insurance premiums wept lower? stuart: no. >> that's how they make money. continually raising prices and from these levels and after this earnings report behind us and see the fallout from the cybersecurity, stock better on the upside. stuart: better if you made this statement yesterday. >> event titles free, no one called me. stuart: i'll remember that. drop box, i know you like them, what do they do? >> this is cybersecurity. this is saving your files, your information, this is how workers send secure files. if you look at the stock movement, it's gone from 30-the low 20s thee times now. now it's gone recently from 30 down to $22 a share. every time it comes down to this level, it's back -- moved back up towards 30. a lot of talk that one of the bigger tech companies would be a
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good fit to acquire this c ompany. down here it sets up well in a tough manager. stuart: taking you up on drop box. thank you very much, indeed, s ir. president biden about to leave nor three day tour of pennsylvania and headed for hometown of scranton. is this all about taxing billionaires? ashley: pay your fair share! come on, man. i keep saying that at least once an hour. according to the campaign, biden asking voters in scranton "do you think the tax code should work for rich people or middle class? president set to outline the difference between his tax agenda that he argues is d esigned to build the middle class from the bottom up and middle out and form riprap's policy that he argues only helps the wealthy. going to tran ton, pittsburgh and philadelphia over the next few days and pennsylvania is a critical swing state. biden won the state in 2020 with
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50% of the vote flipping it after trump won in 2016. recent polls show biden and tram as you can see, latest one here, biden 48-whatever it was for trump but he's extended his l ead. other polls in pennsylvania show it to be a tighter race. we know his mesodamage san juaquin, pay for taxes. stuart: that poll, that's out of date. that was from late and mid to late march. see if thing haves change the since then. >> first of all, i want to guarantee your viewers that donald trump is not losing pennsylvania by 10 percentage points. we think we're going to win pennsylvania. and it is the key state as you
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know. i mean, i think whoever wins pennsylvania will probably win this election. that's why you got trump going there a lot, biden going there. it's the key state. the situation with the taxes is the whole tax system is corrupt. it is the worst, you couldn't devise a worse tax system. people were angry yesterday and fill out the tax form and sign it and you're being cheated. stuart: he says if you're making less than 400,000, my tax plan makes sure you don't pay more s. that realistic? >> no, joe biden raised taxes more than anyone other p resident. inflation is a tax. and any time you go to the gas pump and the grocery store, you're paying the biden -- it's like a sales tax. that's what inflation is.
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everything is a6, 10, 20% more expensive and that hits the middle class the most p. let's talk about the top 400,000 and those are maybe people in the 1 or 2% and cited these on your show and i watch your show all the time and the top 1% of americans pay, ready for this? 46% of income tax. that's not a fair share? stuart: yep. >> i think taxes are too high on everybody right now. if biden's -- by the way, if biden's policies take place, he'll double the capital gains tax, he'll increase the wealth tax, he's going to increase the corporate tax rate. what is that going to do to profitability of stocks? you raise taxes on investors ad the value of the stock market will take a big, big hit. stuart: mark cuban was asked if he paid his fair share of taxes. he responded by saying, i pay what i owe. steve, he dodged the question as
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they all do. i've never heard anyone say, this is a fair share. i want to say that. >> i think we ought to have an 18% flat tax and synergy home should it be so damn ically indicated and we want to make -- damnically complicated. one of the top performing industries has been the health insurance industry. wait a minute, that's when we passed obama care? i thought this was going to make healthcare more affordable and health insurance company is g etting rich off this and healthcare costs are going through the roof. the whole thing, obama care was a big sham. stuart: on that note, we're end it because i have to agree with you. >> it was a sham and did not make healthcare more affordable. stuart: absolutely did not.
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thank you for being in new york us, steve. now this, the biden campaign is hiring a dei director. what's the job description? lauren: responsible for s trategy. staff education and has district influence over whoever is hired by the campaign. so their role is to push for more diversity on the levels over the campaign. is that inclusive? is that someone that represents all parts of america? campaigning for you or is that institutionizing the agenda of the biden administration? they often hire for diversity and not the best person. the physical screen, they're p aying someone up to $120,000 a year to promote that agendarme stuart: would you like to return to meritocracy? lauren: dei. stuart: how about can you do the job? lauren: reverse the letter, meritocracy goes to die. >> that's how we got our vice president. stuart: i would agree with that.
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good timing this morning. 96% of trucking industry is made up of mom and pop operations. emissions standards from california for example could kill them. a trucker will weigh in on that. yesterday we asked your thoughts on bereavement leave for pet when is they die. we got flooded with replies. we'll respond to your feedback next.
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stuart: yesterday we brought you the story that some businesses are considering giving bereavement leave for the death of a pet. we got a lot of response. some of you that are against the idea.
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lauren: okay. stuart: tree s i can certainly understand a person grieving over their pet but i don't think bereavement leave should be a thing. call out sick or use vacation time. from terrence. is there a limit or does the neighborhood crazy cat lady get paid to stay home six months out of each year? the last from stu young, i never want to work for someone that supporteds this idea nor would i want anyone working for me that supports this. next it'll be my plant died bereavement day. that's very good. now, i'm with these people. lauren: i know you are. stuart: where are you? l i think you're out of teach and some of those viewers are out of touch. it would be crazy to have an actual policy that says you can take bereavement for your pet, but you have many companies like tech companies saying you can bring your dog to work. no problem. if you're in the pet care industry and your pet dice, maybe on a -- dies and maybe on a company basis, here's an extra day.
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stuart: ashley? ashley: pets are parking part e family but this is one step too far. take a personal day or sick day but companies shouldn't be doing this because where does it stop? stuart: exactly. my pet goldfish died, give me a week off. are you kidding me? mike. >> agree with ashley. if a company is giving out too many days and paying their w orkers for too many days, the company runs the risk running out of money and being out of business. again, if you need to stay home, take a day off and stay home. lauren: but you don't understand young people. stuart: was that a slam on me? lauren: you're out of touch, all of you. stuart: three of us don't want pet bereavement leave. lauren does. lauren: i don't really either. stuart: now the other side of the coin, a number were in favor of pet bereavement. janet, i whole heartedly understand the idea of pet bereavement and this may seem crazy to a person that doesn't have or never had a pet, the loss of a pet very often feels like the loss of a family
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member. they're likely to be less productive in the first few days and makes more sense to let them stay home and grieve. this is from jay, a 68-year-old man that never cried till my beloved dog died a couple years ago and up till then i would have agreed that pet bereavement is ridiculous but since the death of my pet, i'd agree with lauren that a couple days away from the rat race would have been good. this is from rick, as cpo, chief product officer for our organization, we're looking for ways to show care for our staff and not burdening the organization for extra cost. giving one day of compassionate leave for the death of a pet seems like a low risk win. lauren: what's cpo? stuart: chief product officer? lauren: not chief people officer or chief pet officer? stuart: not chief pet officer. that's not the case. okay. lauren, you first. am i hard hearted? stuart: no, i just said i think you're out of touch to some young people who want more and
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different things from their employers. when everybody was working from home and still working from home because of covid, they adopted pets. they have pets so they might get upset. shouldn't be a official policy but take a personal day. >> in today's world, i employ a lot of young people. young people sometimes want something that's not realistic. i think if you gave your employees everything they ever wanted, it's a bad road to go down. looking for a job and want a company that pays you if a pet passes away and look for those specific criteria when looking for a job. stuart: mike murphy make as lot of sense. ashley, what do you got.
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stuart: i have pets and dogs at my farm. a year or two ago one of the d ogs ran away. went off the property. we lost him for several days. i was close to tears and heart broken. that was my first dog i ever o wned and i was missing him. fortunately he came back, a neighbor delivered him back to us all groomed and everything. it was just terrific. i was very, very happy. are we done? anybody have anything else to say? i think the no pet bereavement leave won. yes, get parental -- bereavement leave lost. you're in the minority. lauren: i'll take the loss. stuart: we're definitely done. going through this again. show me the dow 30, # sense of the market. it's half and half. even split. just about. winners and losers, the dow is
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now up 126. next, a traffic law in ohio w arns that california's zero emission standards will have catastrophic consequences for the industry. that trucker will be here to make his case. he's next. ♪
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stuart: a trucker from ohio is warning that california's zero emission standards will have a catastrophic consequences for the entire trucking industry. that trucker is monte and he joins me now. california wants to impose their standards across the trucking industry. zero emissions. what if it's applied to you in ohio, what affect on your business? >> well, stuart, it'll be a real game changer and if i can say the reason why i used term catastrophic and we use the goal post on truckers and the trucker did not have been thoroughly
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tested and thousands of truckers and nationwide and they lost their trucks and they lost their business of getting trucks that broke down more than normal on the highway. the epa we were going to -- they were going to keep california from dictating policy for the rest of the country and the epa now changed that on the dc lawsuit confirms that. this is kind of a real kick in the teeth here, and instead of looking at us like we are the problem, we are, i mean, we move 73% of the economy here. you know, we are very vital, you know, part of this economy and why you want to take and try to make that in to something it's not, look, these trucks, we don't know how long they're going to last, these electric vehicles. they're going to wear out at some point in time. again, where are we going to park and charge the vehicles? how much are the batteries going to weigh to power the truck s? are you going to separate
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battery weight from the gross weight of the truck or increase the gross weight of the truck? stuart: at the moment, i don't think there's an electric truck on the market that would go long distance. i don't know how much it would cost, but i take it that if you, your operation -- go ahead. >> yeah, sorry. the last notice we had from them and i want to say this was probably a year or two old that the figure for an electric truck that would be a class a truck, which is typical over the road truck is going to be in excess syces of $500,000. look, this number is a year or two old. we've had rampant inflation over the last few years so what do you think that truck will cost in today's dollars? got to be 15 or 20% more than that. stuart: you could not afford going electric in your operation without a whole ton of government subsidies, that is the case? >> yeah, absolutely. i don't want handouts outs frome government and never taken a handout on the trucks i bought in my 40 some year career. i went to the bank or finance
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company. i got my own money, paid for my truck -- early intervention programmed the chance to make a living and&that's what i've d one. stuart: i'm sure there's going to be court cases over this, but do you think it is possible that california's standards will be imposed on you? >> well, stuart, anything is possible. think about the things we thought were not possible five years ago and yet we see these things constantly. and look, there's no -- i mean, the dc court has a record of being overturned about 50% of the time. that's one thing i hope that this will go to the supreme court and i come up with the number just on a really quick google search and they're overturning about 50% of the time. that's giving me pause for hope. that gives the industry pause for hope. listen, in addition to the small mom and pop guys like me, there's big players out there that are wondering how they're going to do this. i don't know if you'd heard, but in joliet, illinois, there was a
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companying wanting to put in 30 charges stations. stuart: it was on the show. >> they were told don't do it. it'll use more power than the whole city of joliet. it's not like some little 10,000 resident town. stuart: monte, i'm sorry, i'm right at time. love to have you back and tell me more. glad to see you're smiling. >> thank you, stuart. stuart: six protesters arrested outside of vice president h arris' home yesterday. what were they protesting? i know, everything and anything; right? lauren: specifically holding signs saying how come you haven't declared a climate emergency and stopping genocide in gaza. climate and ceasefire. they're young. they're part of the sunrise movement. they blocked an intersection near the vice president's home in california, dozens of them slept in front of the home so she could hear and see and maybe listen to their demands. six of them arrested. they stop at nothing. stuart: the tuesday trivia question, it's a good one: how
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many broadway theaters are there in new york city? 37, 41, 45, 49? the answer when we come back. ♪ .. i think it's a great product. it's going to help a lot of patients.
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on the most popular home standby generator in the world. with the generac, we don't have to worry about whether we lose power or not. if the utility company does not come through, our generac does. having a generac takes a lot of the anxiety out of, there's going to be a storm. after the hurricane happened we just want to be prepared for anything. generac generators are designed, engineered and built in the usa. 8 out of 10 home generators are generac and have thousands of satisfied customers. how many times have you heard people say i never want to go through that again? well the next time you go through it, don't make it so hard on yourself. have a generac home standby generator. call or go online now to request your free quote with one of generac's nationwide dealers. special financing and low monthly payment options are available. and if you call now you will also receive a free seven-year warranty valued at over $700.00.
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stuart: how many broadway theaters are there in new york city? 37, 41, 45, 49? ashley, since you are in florida, you get to go first. ashley: thank you very much. i was going to say 49. i will go with 45. stuart: lahren. lauren: 41. >> i will go number one, 37. stuart: i'm going to go with 37. the answer is 41. coincidentally today is the 1-year anniversary of when phantom of the opera closed on broadway, it holds the title of the longest running show on broadway. i think there were more theaters before the pandemic. the pandemic shut a couple of them down. thanks to everybody, see you all again tomorrow. if i count on correctly, coast-to-coast starts, 4, 3, two, here it is.

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