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tv   Cavuto Coast to Coast  FOX Business  August 27, 2024 12:00pm-1:00pm EDT

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budget for a major studio movie, 70, 80, 90, $100 million? what is your guess? ashley: go big or go home, number 4. 100 million. stuart: what is your -- lauren: going with number 2, 80 million. stuart: he lives in the world of money. >> the big blockbusters excuse everything higher, one hundred million. stuart: i'm going to win that, $100 million. yes. the highest grossing movie of all time is avatar, and cost $200 billion to make. there you have it. $100 million. we are out of time. neil is waiting is in three seconds. here he is.
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neil: we are going to follow up what is going on here but seems like a lot of high-tech media companies are being scrutinized. mark zuckerberg admitting four years after the fact that he was strong-armed by the government, the telegram ceo arrested in france over stuff that went over his system and google which is perennially sought after by european concerns and big government concerns, we will have brendan car getting his read on that. high-tech names under more scrutiny. we are following crazy markets, giving up record territory that moved into yesterday but very tough in trading when you consider that. we have scott martin, ray wong
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of constellation. beginning with you on all this searching around, mark zuckerberg comments, don't know why he chose to make them but acknowledged the white house was pressuring him, presented covid hewers and treatment but four years later, the telegram ceo arrested in france, a lot going on here. >> reporter: social media platforms under attack. can they maintain the balance of section 230 when they are not responsible but might be good at policing that speech and trying to find a little ground at the moment especially in an election year with a lot of scrutiny. 53% of the world population was in the middle of an election this year. a ton of scrutiny over social media platforms. what's missing is fighting the misinformation, disinformation on these platforms, there's at this point no startup, no company doing is that serving
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as a clearinghouse for content that comes from an actual source, the contents may not be accurate but if you know the source, that would be a solution but that doesn't exist today. . what he bias is in the eye of the beholder. some conservatives ticked off, you didn't say or do anything when you had the chance early on, you get liberals who say we don't get our voices heard and a crackdown on the crackdown on google. i get how that operates but it is in full view right now, isn't it? >> low hanging fruit. how many times have we seen ceos of meta, google and so forth go in front of congress and have that dissertation, let me work on this together. nothing changes. from the standpoint of
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governments they see money, companies making billions in profits quarter over quarter can pay for these improvements and making a point, what is agree of responsibility do they have because they change their advocacy on what they want as far as platforms go so they do what they do, corporate companies that want to make profits, the government continues to be behind on this. that is something they do in drastic measure at all heck breaks loose. neil: we were chatting about the expectations after the bell tomorrow. might be stuff like this that's more of an issue for technology and scrutiny about what they can or cannot do, on social media platforms when we are
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more focused on a chipmaker and when of the whether it can churn out these chips. >> they billion dollar companies, a billion plus users, a few companies, to have a i chips and energy and reach out to folks, we are in a situation where do we have competition? probably know. they are managed well but not sure. how they've been politicized yes, that's the challenge. neil: what you make of the attention on nvidia, a company with lofty expectations usually blows them away. extra pressure on the company because i don't - i didn't come up with this. this is something that goes bigger than this company, with big effect on the entire
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technology industry leaving aside the magnificent seven. how do you play that? >> it is where if nvidia does well, that is the outlook, the future. it is a lot of hype and we were hoping aol makes good earnings or other companies long since gone that had to hit these numbers, that was the effect on the rest of the market. it's overdone to me. a lot of nvidia's success, we own it but have written it up for quite some time and happy to have it here but if things change drastically which i don't think they will will affect the market short-term but longer-term when it comes to how we go from here. neil: the apple event on 9 september, iphone 16 launch, high expectations for that? >> we had a 5g super cycle, now 2,302,240 million iphones about
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to be a i enabled. neil: have you noticed drone devices -- >> haven't seen that at all. neil: once you try it. before you even search something. >> can't turn my phone. >> glad we are not on 5g. can you please improve siri? we've been going steady for the 5 to 10 years. doesn't know what i like to do. that something to improve on as the super cycle begins. neil: this other stuff and all this craziness. hillary vaughan, one of the best of the best when it comes to tracking down with mark zuckerberg.
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>> reporter: the big take away, mark zuckerberg is sorry, in a letter to congress what kind of confession of his sins saying that should not have suppressed the laptop story, they should have pushed back against the biden/harris white house, zuckerberg saying, quote, i believe the government pressure was wrong and regret we were not more outspoken about it and gave choices that with the benefit of hindsight and new information we wouldn't make today but even though he is sorry, the white house is not, they don't think they did anything wrong and have no regrets, white house spokesperson saying reaction to zuckerberg's letter our position is we believe tech companies and other private actors take into account the effects their actions have on the american people while making independent choices about the information they present. republicans think the
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biden/harris engagement with social media comedies went beyond making sure social media companies were acting responsibly. >> i've seen people prosecuted for violating the constitution and that is what they did by pressuring zuckerberg to censor speech for the biden/harris administration. it is against the law. government is not supposed to be involved in trying to subvert your freedom of speech or freedom of thought. >> reporter: of vice president harrison democrats were hoping get for a flood of zuckerbucks, they've been cut off. mark zuckerberg said even though his spending was nonpartisan last cycle and did not go to a politician or party, he is staying out of this election and the keeping his money out of it too. neil: a cynical thought but how
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much of this is doctor berg trying to suck up to donald trump? >> reporter: makes you wonder what zuckerberg is seeing behind the scenes and why this is coming out now. maybe he is worried that there's going to be a new administration, the trump administration, trying to curry favor with them but i don't think this is going to work. if anything, it energized republicans on capitol hill against big tech. they are saying we were right, thank you for your apology, glad we got it out of you and glad we got your money out of this election cycle. neil: very good point. very good points all. really delighted to have brendan car back with us. the timing of all this, regardless of one's political views on the subject, he's been complement tree about zuckerberg, donald trump, especially how he behaved and
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acted after the as as a nation attempt, he wasn't alone in that, republicans and democrats alike amended how he responded to that but now this. i wonder what he is trying to curry favor. what do you think? >> the timing is driven by the house judiciary committee and chairman jordan deserves a lot of credit. he put a lot of work in place, developed the documents and reached this point that mark zuckerberg is confessing to what a lot of people believe was going on. this from an orwellian conspiracy to just orwellian. the federal government, the biden/harris administration pressured facebook to censor politically protected speech protected by the first amendment. we are in the midst of a very important debate about the future of this country, whether it is free-speech or censorship. as a proxy for a bigger fight of freedom versus authoritarianism.
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if someone tells you where they stand on the censorship debate they are telling you a lot of information about their approach to governing. neil: there was criticism of google about if you wanted to research the assassination attempt on donald trump, it wasn't what you think. conservatives have a problem with that. liberals have a problem with this. it does seem bipartisan rage at social media concerns in general. >> we've gone through a number of years where there has been this surge in the censorship at my position is simple, we need to get back to free-speech, the movement by sacher berger is an admission. now to move to step 2 which is accountability. government officials on the other end of the line pressuring facebook to take down content, we need to get more information about them and have some accountability. at least in the interim between
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now and the election, any social media company the gets a call from government official, right, left, or center, to censor speech, should medially publicly disclose that. if they can't because it is national security, at least they need to disclose it to the judiciary committee. that transparency would go a long way towards healing us. that transparency in the short run is very valuable. neil: the supreme court ruled in favor of the biden administration on the big tech censorship case. justice alito want the country may regret ruling in a fiery dissent here. be careful what you wish for. that might not be the case here. the president, exonerated for doing just that but it's a slippery slope. is it not? >> the zuckerberg letter is the missing piece with regard to the supreme court case. this isn't a fringe movement,
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the white house is unabashed saying we are doing it the we've been doing it, it's not a fringe theory. you have tim walz who said there is no right to free speech when it comes to what he views as misinformation but that's exactly what our first amendment is about. we have a choice about continuing down this path of censorship, re-embracing in a bipartisan basis free-speech. at the end of the day free-speech is the bedrock of democracy, we need to return to it. neil: great having a back with us. brendan car. anything more on this we will let you know. it's not disproportionately hitting technology stocks, social media concerns i have nvidia's release of earnings after the bell and they are caught up in that fray whether they are connected to that or not. updating you right now on the battle to save red lobster. and iconic brand that could go the way of the dodo bird but not if the new ceo has his way or what stores he keeps open and what he keeps on his menu.
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>> welcome back to cavuto coast-to-coast. i am peter doocy at the white house where it is unclear this much discussed interview with kamala harris is going to happen by the end of this week because if you listen to her advisors they are saying there will be an interview scheduled by the end of this week. >> is the vice president said and i think you know, she said she's going to schedule an interview by the end of the month. everyone can look at a calendar. she will schedule it by the end of the month. >> i want to see an interview scheduled. >> reporter: there's an eye-opening reason tim walz hasn't done an interview yet. politico reports the danger of sending him to do solo interviews he might not have a full command of where kamala is on every issue. debate rules, the harris team wants to change them with biden as the candidate.
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they want the mike's heart and there's a growing belief they would like to re-create moments like this. >> i am speaking. i am speaking. i am speaking if you don't mind letting me finish. we can have a conversation, okay? >> reporter: harris is going to appear in one battleground state two different days this week, georgia. neil: remember that interruption, overwhelmingly, women liked it. overwhelmingly, men did not. >> something they can practice. they thought the silence helped president biden. they don't want that for her. neil: thank you. peter doocy at the white house, general editorial board member,
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former bush 43 speechwriter. where does it stand on this deep bait that come back-and-forth and arguments over who's going to get what at a certain debate, never cancel debates. michael dukakis insisting on a riser to be as tall as george hw bush didn't threaten those debates from happening but a lot of the stuff could. what do you think? >> i don't think so. they are more important for donald trump than for kamala harris. if there is no debate, it's part of the kamala keep from the press, keep from answering questions kind of thing we've seen. it is donald trump's one chance to hold her feet to the fire, get concrete answers, see what she does spontaneously without the media filter. his attitude should be what it was with biden.
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i don't like the idea of candidates having notes. if it is a hot mike, before the biden debate, they thought the lack of a hot mike, turning it off was going to hurt trump and it helped him. he would have to be more disciplined. i think he can do it. the question is whether he will do it. he has to no what is coming. she wants him to interrupt her so she can say i am speaking as she did to those protesters. i don't know that it means much, all that stands before him. neil: another thing, to veer a little off topic, if you think about it, the debate rules for biden and trump, nothing donald trump wanted. the biggest mistake in retrospect for president biden was holding it in the summer.
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if it were schedule as usual september debate, he would still be the nominee. >> i agree. i think donald trump, doesn't matter what the rules are, he has to adjust to them and recognize what they mean. i think donald trump does better in a hostile atmosphere than in a friendly one. than the american people see what he's talking about when he talks about bias. like a rocky movie. the first 90 minutes, rocky gets the tar beaten out of him. he doesn't throw a left hook until the end. not bad for donald trump to get worked over by the press. let people see for themselves and the debates are important, suppressing how few there are given -- they are treating her
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commitment to one interview as a great concession. i think it just raises the stakes for the debates. neil: we in the media are fixated on this, folks at home don't seem mesmerized or taken by it. that one interview, the debate itself seems more important. stuart: >> most nights, the democrats average 21 million. the debate was 51 million. people want to see the real deal. what their candidates say under pressure in response to real questions. it's a real test of a lot of things that go into deciding whether they are presidential or not. rob: the first one to bring rocky into this discussion.
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neil: not surprising that it is sliding 5. 5% on news that he came into this and pulled out of it. charles: i told everybody not to trust this, if you go into a bid like this. it is 2 thirds of the way through. neil: he wanted to crash the party. charles: it smelled weird from the beginning. it was a period they start formal negotiations but somebody could come in. just about done with that and
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in comes a guy who hasn't run a company in years. with a zillion people. 2 dozen people which is always suspect. neil: it is 2 dozen. charles: with blackstone in their. he has the bid and there's no details to the finance and special committee is we must, the special committee, we must explore this. i was dealing with the sky dance people. are they trying to squeeze a few bucks out of people? keep trying. he doesn't have the money. it was a weird consortium. neil: what happens? charles: the big story is this. because the justice department and ftc run by lena con is the
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biden people, so anti-merger that a real rational deal cannot be done. it's going to happen. this is not a rational deal. they are buying the asset, the controlling shares, very complicated, to billion dollars for that and she keeps 1 billion because of tax as and other stuff. she gets to preserve something of her wealth that is declined 99% from what her father gave her and a reverse merger where sky dance gets sold into paramount and they do that for stock which dilutes the common shareholders even more and then they merge everything and everyone is allegedly happy.
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that deal should not happen. comcast is in place. when fox was in acquisition mode, we should spend $8 billion but because the justice department is not allowing any media mergers because they are freaked out about that. i don't know why they care, most media companies are pretty progressive except for us. it's not like a difference of opinion. this is the best you can do. common shareholders would have done better but they have two classes of stock. get too much in the weeds. this is finance.
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neil: we were talking about all the rules. you are on fire. charles: may i show the video? neil: you may not. kelly o'grady can save us from this in times square outside red lobster. they are trying to save this but where does it stand? a new ceo coming in, where does it stand? >> they are looking to bet on new company culture customer experience and hoping that the ceo is turning this around. the former pf chang ceo is what we turnaround the ceo, he comes from a private equity background that tends to be laser focused on new revenue streams and cutting costs and
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shared a statement on the news, red lobster's future is brighter, can't wait to get started on the investment plan and meet diners across the usa and canada. beyond the new ceo red lobster announced they will shut down an additional 23 locations by this saturday on top of cutting more than 100 locations this summer alone. the turnaround won't be easy. they filed for chapter 11 in may. intense competition soaring inflation and ill-fated menu decisions. you might remember that popular are you can eat shrimp discount for $20, wasn't price to perfection. spirit $11 million loss, a lot of customers showed up a diners dealt with long lines. many are talking that to bad management. they transitioned from being the restaurant's top supplier to the largest shareholder, made a slew of questionable
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decisions including allegedly forcing red lobster to get shrimp from them driving the cost higher. the new ceo is looking good to boost company morale. that's a tough line to walk but the good news in times square, not one of the locations shutting down. after your show get cheese biscuits together. neil: think i single handily brought them into bankruptcy, took advantage of it. that was the last, they were filing. i was fine. thank you very much, kelly o'grady on that. the psychic operators president and author, former nfl player who does that. in great shape and all fat. good to see you. i want your take on what is going on with a lot of
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concerns, the new ceo. it to task when running into some books. >> reporter: what obvious about the report we heard is there is a laser focus on new revenue streams and cutting costs. that's at the heart of the very issue of the challenges these company's run into every day. going to futureproof the us economy we need a complete shift in perspective particularly from the leadership levels and the capital community. it can't just be laser focus on revenue streams and cutting costs. it has to shift. perspective has to shift. . 20 you took off your customers. you talk about we need a shift in perspective, not policy. people before profits. what does that mean? those people going to red lobster loved the all-you-can-eat shrimp, i took advantage of it.
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if so you are ticking me off when you end that source so how do you balance? >> people before profits. if you look at the us economy, businesses are the engine of the us economy, people are the fuel. people in those businesses. you have to realize people do not live to work. they work to live. when leadership has values-based leadership perspective, they prioritize people in the businesses, prioritize culture and core values, they let people know they are valued members of that team. the team takes care of customers and the customers take care of the business. it is always that way and we lost our way. cost of capital has increased. there's a narrowing of traditional avenues and that is created a challenge. neil: so many workers have the attitude they are unhappy, bosses are not guiding them or
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motivating them, the skill sets are not geared to the trades. how do we fix it? >> by starting at the top. leadership in one word is responsibility in response ability is to not be the person in charge but to lead those people in your charge. it is specific to the engine of this economy and the critical infrastructure, mission-critical, the electrical grid, water infrastructure, supply-chain, businesses there are the most important, that keeps the economy moving. we cannot afford that to happen. it's not about policy. doesn't matter if you are republican or democrat, this is about perspective. neil: it's about acting as a team. >> each achieves more in the greatest teams never have the best talent, they have the best people at work together for the betterment of the team. we always say we don't focus on
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the result but the process that yields the desired result investing in critical infrastructure. there's a huge gap in the trades, million for every five that exit two are back and there's a study that said if we don't fix this by 2030 it is a one trillion dollar hit to gdp. that's a national crisis that we have to focus on. this is about a perspective of people for profits, profits are good, profits are the result, cannot be the pursuit. the pursuit to let the profits be the result of that pursuit. neil: well said. thank you very much. a sensation almost as big as chris, the millennial mom who
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neil: when the case-schiller housing numbers came out, they fell, less the gain thought but the gain was again, to the highest level of home prices we have seen in this has been happening month after month, you would think with everything going on in the economy how could they keep happening? help me with this because it continues unabated, before covid, after covid, through crazy rates and stocks. >> we keep moving higher, record levels of home prices. you've seen some cooling different from home prices falling. this year we are expecting the summer we are expecting more momentum because you've seen the 30 year mortgage rate come down significantly. more than a year, you will see
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the bond market anticipate we will have rate cuts coming so you've seen benchmark rates fall a lot in the last couple weeks and mortgage rates come down but it's the affordability problem we are facing. a portfolio manager i talked with, the housing market is stuck and the labor market is stuck but the housing market is stuck at record levels. neil: usually the key is as long as folks have jobs it's not good but it doesn't seem in this environment that there is any relief in sight. prices still climbing pricing more out of the market. >> it is the affordability problem. affordability is like around the ballpark because we've seen this run-up in prices during
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the pandemic. there are three things, labor, land and labor, land, what was the third one? these are the things preventing the homebuilders from ramping up, they are on fire to be able to keep up with the housing demand, they are not able to keep pace. neil: when i see inventory at a 5-year high, that's pre-pandemic. there is the conundrum right there. >> we don't have enough for the population. economists expect home prices to go off historically around the 5% rate. neil: from 6 something.
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>> we expect 3% later this year. that a little bit really but in terms of trying to find the bargain in the housing market it seems the same story. neil: makes that home a little more affordable but not a lot more affordable. great seeing you. i don't know if you heard of the millennial mom. >> each week they get paid $6, one dollar a week goes toward their expenses. we charge them each a dollar for rent, dollar for groceries at a dollar for utilities. they track on budget trackers and other sending categories. they set the dollar in a separate envelope for utilities and the next month, charge them for their bill. we want them to learn expenses and bills in a safe environment now. neil: they are not full grown kids. i've been trying to do this with my older son widget has gone nowhere. personal finance for kids,
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tiktok, all the rage. great to have you. what made you do this, seems your kids are on board with this. how did you make this happen? >> my husband and i decided to do this. we noticed a gap in personal-finance education going up and we wanted a well-rounded education so want to start increasing the allowance to accommodate charging these expenses so now they get a little bit of this. neil: think it is brilliant but a $6 allowance every week, right? >> we do. neil: how much goes to rent or fix expenses? help me with that. >> we charge $3 a month for their utilities or expenses. the money they pay gets put in a savings account for when they are older.
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there's a coupon at the end of it, something from it they can do, whether it is extra screen time or something fun, try to keep it light and enjoy it. neil: your engaging them, not doing it dismissively but making it fun. a lot of people await finance, numbers, math, you made it very fun. how do you do that? >> we try to keep it light, 10 minutes, 20 minutes each week. we try to have fun with it because we want positive associations with managing their money as adults. charles: say $2 goes to rent, they see that $2 leaving them, how did they react to that? >> they understand it is going in a savings account for them so they enjoy it and they get
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their payment receipt so that has something on it and they are excited about it. it is the same as learning the alphabet, subtraction, addiction, these are from the middle school needed as adults so it is learning. neil: don't know if you make house calls but 2 twentysomething college kids who have not gotten that done. wait a minute. my son or daughter is not up to speed and a lot older than samantha, how do you advise them? >> it is a little tough. i have little ones. not for the older kids yet. to have different advice when i get to that phase. we try to have open communication.
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everything is a learning experience. mistakes are okay, we grow from them. keeping that communication open is what we aim to do. neil: this is beyond your young years. i wonder if you can make house calls on congress as well because they are not good with that. very encouraging. tiktok was all the rage and she's proof you can make this happen and she has found a way to do that. that brings the whole demo down. after this.
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get there hands on these weight losing drugs that are out there, one of the more popular ones, that eli lilly is offering a new form of that drug cutting them in half, the 2.5 mm dose is half of what it was. the 5 mg single dose which was $1200. 549. a lot of people heard about this, saying fat chance but they did it. that's the skinny on their. eli lilly leading what could be the charge toward cheaper weight loss drugs. that will put pressure on the industry. we wanted to chew the fat on that. progress is being made. brian brenberg in "the big money show" people. brian: you can never use too many puns.

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