tv Power Lunch CNBC March 12, 2013 1:00pm-2:00pm EDT
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another good day for valero. up 32% as we talk about refiners for a moment before we do final trades. joe, what do you do? >> rye finers, an interesting trade. i talked about going neutral from overweight. i've been a long-standing supporter of the refiner trade valero, i think you take profit right now. with that said, if we could, let's talk about dk, a name that's down over 8% on news, to shave off 8% to 12%. i want to buy that sell-off. i will buy that sell-off within the next 24 hours, the one refinery trade i would stay with. >> murph? >> i like the price action in
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valero. it has a pullback to support. another refinery name, mlp focussed on refining, northern tier, nti, and dividend analyzes about 16%. >> women eiss, a quick read on mlps. >> they're interesting, but rates run up. i still like clmy, i think the mortgage reads, which are sort of mrps are going to do well. joe, final trade? >> we're trying to two stuff outside the box with mark near the highs. i time a position in vitamin shop, vsi. i'm going to go to ford. the setup in ford, there's been massive buyings. 1350 at a price range. the company will give us an update friday morning. >> usa air, lcc, a strong dollar, because oil will come
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down and tourism going overseas will participate. i'm going to buy some more gold at gmt ld. >> that does it for us. follow me at twitter. power starts now. halftime is over. "power lunch" and the second half of the trading day starts right now. good morning, a wave of hacking attacks, one victim, the first lady, michelle obama. the secret service wants to know how her financial information was stolen and put on display for all to see. switching to apple, the shares down 30% in six months, now some stock watchers believe things are about to change. technical reasons, we'll tell you why. and frequent fliers watch out. this lady here has a headache. when she finds out what they're going to do to her frequent flier plans, the headaches will get worse. see what is happening to all those miles you have worked to save.
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bring us up to date, sue. >> i will, ty. good to see you again. another dow record. we did cross into positive territory at noon marking the eighth straight record-setting day for the dow jones industrial average, pulling back a bit, the dow is off about three points right now. the s&p hit multiuser highs. right now it's trading slightly to the down side by about a quarter of a%. the nasdaq composite is down just a fraction, about less than half a percent. brent crude is down a quarter of a percent or 31 cents. we're at 109.91. up one full percent. they're hedging their bets right now, ty. >> thank you very much, sue. the other big story at the top is hacking. a wave of attacks against some of the america's biggest named celebrities, including the first lady, michelle obama. this comes as fbi chief robert
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mueller testifies on the topic before congress. by the way, he's been hacked as well. eamon javers, our chief hack guy is in washington. >> that's a dubious distinction, tyler, but yes, the secret service confirms it is investigating what's an apparent hacking attack against the first lady michelle obama. there's a lot we don't know. the secret service is not giving details. let me lay out what we do know. what we do know is that information that appears to be michelle obama's personal financial information including bank account statements, student loan details, mortgage statements has appeared on a website that's in public that appears to be based in russia, but even that much is kind of difficult to tell. the secret service not confirming whether or not this information from michelle obama is genuine, but they are investigating the situation. also involved in this hack is a wide range of u.s. government officials. let me run you through the list, including as you said, the fbi
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director. michelle obama, joe biden is involved in this attack, and hillary clinton, of course, the former secretary of state. a wide range of celebrity names, also potentially involved. beon, britney spears, kim kardashian, mel gibson and jay z. so, tyler, a mysterious situation here, but a lot of this personal information includes things like social security numbers that could be useful for identity thieves in the future. that means it's very scary for those involved. >> there's no indication that any of these individuals have suffered any sort of financial loss as a result of this hacking, is there? >> no, in fact some of this information appears to be fairly old. if you look at some of the information posted for hillary clinton, it lists her address as 1600 pennsylvania avenue. as we know, she hasn't lived there for about 14 years now. >> on the phone is lookout ceo john her'ing.
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at this point we sort of can't trust the internet fully. it's become a platform for about all forms of commerce. john, good to have you with us. why would someone do there, whether here in the united states or based over in russia? why would someone be interested in publishing this information? it vanity or because they want to commit a serious crime? >> the world has never been more connected than it is today. what's incredibly fascinating is it's not just the average individual. everyone is connected to the internet in their day-to-day lives. hackers are targets they people from political espionage just trying to gain credibility in the hacking community, if you will. it's unclear in this case what the actual motives are, and the investigation is still ongoing by the secret service and fbi, but we've seen more of these types of attacks proliferate as of late. and the velocity is increasing
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substantially. >> what have we learned? i guess i could make the argument that every time one of these attacks is exposed, we can actually leapfrog ahead. we learn something, don't we? >> that's the hope. one of the most fascinating things is it just shows how sensitive the world is and how sensitive information can be exposed very easily. in many cases what seems to be sophisticated results is put in place by a very simple attack, means people's passwords, access to e-mail addresses, lack of awareness on what types of sites are visiting starts the actual attack. once someone breaks your e-mail, they can chain it together. >> why aren't more hackers put in jail? wouldn't harsh penalties stop this practice? >> well, it's very complicated. attribution is an incredibly large challenge. when i say that, i mean it's hard to actually find out who is the perpetrator. the other component is the
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technology is evolving so rapidly, it's very hard for regulation to keep up with the pace, mean regulation moves at a certain pace, whereas technology moves as an exponential pace. >> john hering, thank you for being with us. the three-year bond auction, rick santelli is tracking the action. what was the demand like? >>ed yield at the auction was 0.411. the when issued marked or how it trades before it gets a coupon and the auction ends was 341.5 basis points, so priced very tight. normally $3.61 chase every dollar worth of securities available. that's the ten auction average, this one was 3.51, a little light, indirects at 20.6. directs heavy at 20 -- we give this auction a b.
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tomorrow we'll be doing ten-years, in totals, 66 billion. sue, back to you. bertha coombs now has the market flash. >> this is the stock delek, was halted. news is now out. it's come off the lows before the halt. the company saying that one of the its main shareholders is going to issue a secondary offering of 7.7 ant a quarter million shares they have also issued a 75 million stock repurchase program to buy back some of those shares. nonetheless all of that is culling off the stock, though, yesterday at an all-time high. >> thanks, bertha. although day, another downgrade for apple. the shares right now are last grated, about 1.3%. we looked at it at the top of the hour, but look again at the six-month chart, now down about 35% and change. questions for investors who hold this stock, when is the bear
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trade going to end? seema mody may have answers. she's live at the nasdaq. hi, seema. you know what? >> you know, it's so bad that it's good. that's the exact phrase used by an open hyper analyst. it's recommending buys apple even though they think the overall market will fall. a behavioral technician is also expecting something similar. from a different view, he thinks apple's move is very similar to that of gold mining stocks, the etf. both were objects of sterns sieve enthusiasm. when investors flocked to these stocks as safe haven trades. even when the market staged a comeback, both sold off and continued to move in the opposite direction, so the question now, is if we do get that pull back in the market that many trader are anticipating, will that be a catalyst? well jeffries doesn't think so, due to its most recent channel
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check. it's cutting its price target on shares to $420 from 2500. tyler, back over to you. >> seema, thank you very much. what should apple do with the massive pile of cash? why don't you vote. we'll give you the results later. well, ty, it's no secret the market has been on a tear lately. the dow up 10% year to sedate, the s&p up almost 9%, the nasdaq up 7%. as the dow keeps hitting the historic highs, thes chairman of gold manse sax says he's not convinced the rally will last. his latest note -- i am not that confident about what happens next and to whether all these trends are going to continue, not the least because may is now less than two months away and the infamous sell in may and go away, come back on st. ledger's day may be intact. let's bring in the director from
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o'neil securities. i know longer term you think this market will be in a better place. so long term you're bullish, what about -- >> listen, i think in the short term i think he's right. i think the market is ahead of itself. i think the market and economy are disconnected. that concerns people, so, you know, i for one is am looking for a pullback, but i don't think we'll get a 10% or 15% pull back, if we get 5%, that's probably what we'll get. that's not the end of the world at all and would -- >> it would be healthy, wouldn't it? ivities it would be healthy. the market has gone straight up, no consolidation at all. in that sense i think a lot of people are frustrated over can the market keep doing this. as a matter of fact, look, we keep struggling with the s&p 500. >> it has to go through. >> being the broader index. so i think it is exhausting, you can almost feel it. a pull back of some sort would be low. >> that attitude has been around
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forever. >> i'm never really subscribed to that addening, some people live by that, but i think what we'll find as we get through the debt ceiling, the sequestration, a bit of volatility, but i think the summer into the fall will be good illustrates kenny, thank you very much, as always. does the biggest etf player believe in this rally? we have 3.7 trillion dollars worth of advice from one of blackrock's top strategists. that's coming up in the next half hour. merck moving up, an independence monitoring board has allowed it to continue its trial on the safety and effectiveness of the blockbuster vytorin. and there you see the stock. pfizer moving a bit lower, the fda said the zmax can cause a
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heart. dialing up the heat, at&t announcing consumer and corporate presales of the new blackberry z-10 phone opening today. it comes ahead of samsung's much anticipated release of the latest galaxy phone. blackberry shares up 25% so far this year -- well, actually about 20%, according to that chart at 14.30, a bit lower right now by about 60 cents today. jon fortt is at an at&t store out in the valley, silicon valley, that is. jon? >> reporter: yeah, here in palo alto in high hopes both that at&t and at blackberry over the z-10 launch. blackberry's been down quite a bit, but the z-10, which we attended the launch back in january, it goes on sale on the 22nd, about $200 with a service agreement, about you same price
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as the iphone 5. at&t coming forward with it first, but t-mobile and vising also expected to sell it. sprint looking to sell other blackberry models, not this one in particular. these new blackberries, important for you investor toss remember it won't bring the same services revenue about the old blackberry, the 7-based phone. that's because the software is different, but works have been differently. carriers don't necessarily want to pay for that network. they're trying to figure out what they can do to get more revenue. arguably we're now in a post-smartphone era in the sense that the market is get saturated in the u.s. ios and an droid especially dominant in that market. back to you. >> thank you very much, jon. back to bertha coombs. >> courtney reagan says cfo charles holley saying that sales
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normalized at the end of february. you remember the brouhaha over a leaked e-mails that said that sales had fallen off the cliff. sue? >> a percent on the day. thanks, bertha. the next frontier for the airlines, say it ain't so, phil lebeau. >> i know you're a globetrotter probably sitting on a-million frequent fliers miles, have you tried to use them? it will be tougher and tougher and will cost you more. we'll explain why when "power lunch" returns. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next.
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costco shares moving higher. the country's largest warehouse club operator affording a better than expected second quarter profit. members pay up to $110 per year to shop at costco stores. according to analysts they remain extremely loyal. ty, over to you. ready to get outraged? big changes to coming to frequent flier programs and they're not in favor of the flier, surprise surprise. who knows? phil lebeau knows. >> this is what you have when you have an airline stripped out of a lot of capacity and frankly trying to drive profits for every seat. for not only to gain certain status, but to caption those miles. tighter capacity driven by the consolidation, smaller airports, and at the same time these mergers have learninged
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partnerships and people moving into one program, and there you have a number of people trying to cash in at the same time. >> there's a lot more competition, because frankly there's just more members of the programs. 31 years later and they're still growing at 10% to 11% a year. so today you're competing for benefits not just with other frequent fliers, but with frequent buyers. that makes it difficult for anybody to be called an airli airline's best customer. so here are the changes we're talking about. delta is a perfect example. right now, your miles are accrued based on how far you're flying, then you reached a certain level of status. starting in 2014, it's not only how far you fly, but how much money you spent with the airline. a minute numbs of 25,000, that's for the n you have to spend up to $12,500 to achieve the top status.
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this is what we'll see from a number of airlines. delta has had a heck of a run. tyler and sue, the bottom line is this, the airlines are now transitioning into an era, where it will cost you to become a frequent flier. it always has to a certain extent, but you're going to you notice it in the years to come flying is not fun, anyway. >> everybody's doing it, sue. >> i know. that doesn't mean we have to like it. coming up, the super-rich stashing their cash, what you need to know if your portfolio has exposure to china. highs for a sixth straight session. bob pisani is here, what are you watching? >> markets moving sideways but secondaries -- seven were announced as of last night, moving the markets today, including one overseas that's moving 9 markets.
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the uk. investors taking notice. look at the move there, up 17%. now very heavily traded, but a very low-priced stock, sue. >> ty, thanks so much. let's get the trading action here s bob joins me here on the floor. not unexpected, i would think? >> no, and a little more risk off today. let me show you what is going on. china is down, south korea is down, south africa is down. these are classic risk-on countries. you can see they're union performing. the exchange-traded funds. the market doesn't have to be open to trade the etfs.
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i mention secondaries being really hot. word was out in germany that commerce bank, one of the biggest banks there reportedly was going to be preparing a large secondary offering. they were told as much as a billion. we never got a complete total confirmation. so our banks here were down as well. i want to note there were a bunch of secondaries announced. that is 45 million outstand. that's 25% on the down side here. >> thanks, bob. see you a bit later. back to the bond market. rick santelli is looking at the action. hey, rick. >> hi, sue. well, the market is down just a smidge in equities, but just enough to realien, which has been the pattern, looking at an intraday of 5s, 32 billion, tens
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are down about five basis points, but volume is a bit on the light side. if we look at the euro versus the dallas, it was at 130 and three quarters. you ask continually see that the support seems to be, low on the left side right around 127. here's a big trade. let's look at a year and a half chart. they eased 50 basis points last week. it's now at a 1 1/2 year low. >> rick santelli, thanks very much. in real estate, of course, the slogan is it's location location location. in stocks it may soon be rotation, rotation, rotation. one of blackrock's top strategists will tell us what he tells his clients, next. [ indistinct shouting ]
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level, but unable to close above that mark. traders are looking at what's happened to gold, we've seen a slow climb here higher, but a lot of traders say that 1625 level will be key here. really will take a price above that level to really see some true momentum here in the gold market. elsewhere silver and copper prices, platinum and palladium are the only metals lower. back to you. thank you very much, sharon. one of the top strategists at blackrock, the world's biggest money manager of assets. let's see what he makes of the markets. so good to see you in person. >> thank you. >> you brought the london weather with you. >> yes, we have a present for you every day. >> thanks for that. we have an interesting market day today. a bit of risk off. you put out a note that says it's not about basically rotation from one asset class to
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the other. it's risk mitigation. what's the difference between those two things? >> the difference is the rotation means you're absolutely selling one cease to another. the asset you should be selling is cash. . you know, i think it's going to take time for investors to come out out. for there to be quite a pause, but within that, there's
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lots of things doing well. dividends will probably pick up, for example, from here. >> what worries you about the market, if anything at all? i mean, i know you're worried about the fixed income side of the equation, but what worries you, if anything? >> i think the normal things, will a management company do the right thing? we see company management will get a huge return for distribute little dividends, and buying back stock. that's very good for the shareholders. taking it to the ultimate conclusion, is it so good for the economy? i'd like to see capital investment picking up. i think it will come. >> is that a confidence issue? >> and if you're a ceo, you're looking at what's going on with the pant omime in washington,
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i'll do some now, but i want to see what the tax code will look like. that's why they're busy lobbying there. i think it takes time to recovering from the nightmare of the last couple years, but down at the country club, as it were, they're getting bolder about spending money. will they do it in the right way? >> the issue that you have such an interesting perspective is the european crisis. we've had some movement in germany and different comments coming out of germany to move those markets specifically. are we past the worst in europe? or do you think, as some people do, that there's still an ongoing crisis that has yet to be resolved? >> oh, the crisis will last for a very long time. europe is a bit like the patient in the hospital tv drama, who's died and they've resuscitated him. he's alive, but not well. it's going to be like that for a long period of time. ed banks are still shrinking
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their balance sheets across europe. they'll continue doing that. the currency should be weaker. it's not. >> it's not, yeah. >> that's a drag on growth. there are chances of getting growth out of europe. they're a little higher than my chances of becoming pope, but not much. >> and the conclave has started, so there you go. and now ear paying to store back the cash, like in the middle ages, when a guy had a casting,
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you paid him to store your moan. that's less sensible. >> let met turn to you blackrock's stock itself. we've talked about a lot of high flyers. stock has moved up 35 to 40% in six months. does that continue? what do you think is behind that move? >> oh, um, well, of course we have the world's greatest ceo. hi, larry. >> there you go. >> that helps. i think that the market is recognizing that a lot of things it was worrying about a few months ago, like pricing pressure and ishares, etfs and so on, are being offset by the growth in business. we feel very invigorated. >> also the expansion of your business. you've really focused in on not just the etfs, but the ishares and retirement scare that's out there for a lot of people.
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>> a lot of our strategy and thinking is going into that. it's not about can we suck the dollar in today. it's about positioning for the longer term. >> great to see you, thanks for spending the time. come back very soon. >> i will. tyler, up to you. let's recap some of the other big headlines. yum brand is moving higher at it reported an unexpected rise in february sales in china. cabela's surging after the outdoor retailer says it expects to top wall street first quarter earnings estimates. and diamond foods losing ground as adjusted earnings and revenue fell short of analyst expectation. sue? >> congressman paul ryan unveiling his budget plans that he says will balance the budget in ten years. will it be at the expense of your retirement? we'll talk about that. and bob iger is coming up on "closing bell" today. we'll talk about that, too.
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the ryan budget promises a balanced one in ten years even faster, even more quickly than his old one, but the 4.6 trillion in spending cuts affect your retirement? our john harwood has the details. >> they would affect your retirement, because that's where the money is, remember the source long term of a lot of our budget problems has to do with the retirement of the baby boom generation and the associated costs with medicare, medicaid, and social security. here's what the paul ryan budget does. first on medicare, it preserves the $716 billion cuts that president obama implemented to help pay for obama care, which the republicans attacked in the
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last campaign. he keeps those in. he adds another 7$756 million worth of cuts to medicate. he turns it into a block grant, which limits the am that states can get. on medicare, he turns that program into a so-called premium and social secure, he doesn't have specific recommendation, he leaves that to congress. that's a hot potato he doesn't want to cut. he also increases -- so across the board, this has an impact, med cases in particular, the $775 billion in medicaid cuts, that affects nursing home reimbursements, which middle-class people rely on medicaid to pay for their nursing homes, so there's a lot of effects in this, tyler, but from the point of view of retires, this is thought likely to become laws. >> john harwood, thank you very much. representative ryan will
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speak exclusively with our larry kudlow about that new balanced-budget plan he's introduced tonight on "the kudlow report" at 7:00 p.m. eastern time, exclusively on cnbc. sue? ty, new year's plans to ban sugary sodas goes flat, but it's about more than that. we'll take you inside the industry's plan to get america hooked on the billing three -- sugar, fat and salt. plus the trend in china that could have the devastating impact on the country's economy. what's going on? >> the chinese rich are getting richer and more numerous, but a lot of that wealth is leaving the country. just how much, where it's going, and how we might benefit. that's coming up next.
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we can make them sexy, especially if they tell you where the markets are going. from a texal basis, we could be strict, we're going to delve into that. >> browser, bakley an operating system, no, it's not microsoft. that's google. we're going to argue about whether google is actually turning into microsoft. >> all those things at the top of the hour. "street signs" is the show. back to "power lunch." thank you, guys. minting lots of new millionaires, billionaires, the super-rich making big money moves to protect their wealth and our wrelt editor robert frank has the details on what they're doing. >> lots of millionaires indeed, tyler, now 12.7 millionaires in china, they hold more than 5 trillion, about 40% of the country's total wealth but increasingly that wealth is
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moving offshore, and holding more than 3 billion, that's up more than 20% from 2010. that number is expected to grow even faster in the coming years. it turns out the richer you are in china, the more likely you are to have offshore ktsds. 1 in 4 millionaires in china now has offshore wealth. china, of course, has tried to stop money going from the seas. some of it is coming here, hong kong and the u.s. are far and away the largest destinations getting nearly half of the offshore wealth followed by canada and then swisser listen. ations are big buyers on the west coast in new york, and one of the chinese richest women and her company making a bid for part of the gm building, so the wealth drain may be america's
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gain. >> robert, thank you very much. president obama is meeting with senate democrats on the hill. we're going to show you video of the president arriving at the capitol about four minutes ago. this is a lot on his agenda obviously, budget talks, gun control legislation, immigration. this is part of what'sing described by some as a charm offensive on the part of mr. obama to meet with congressional leaders on both sides of the aisle, which he is intending to do this week. sue? ty, as you know, new york's soda ban was struck down, but mayor bloomberg promises to press on. let's take a quick listen to part of his reasoning. >> we believe it is reasonable and responsible to draw a line. that is what the board of health has done. as a matter of fact, it would be irresponsible not to try to do everything we can to save lives. >> but it's not just about soda. it's also about processed foods and how that might lead to obesity. more from michael moss, the
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pulitzer prizewinning investigative reporters at "new york times," and ways the food industry deploys salt, sugar and fat. welcome. >> thanks for having me. >> you maintain there was a secret meeting of ceos some time back that helped basically get americans hooked on some of these unhealthier foods. can you elaborate on that a bit? >> yeah, the ceos actually met in 1999 privately by themselves to discuss the then looming obesity crisis. what was amazing about what i found about in the course of my reporting for the book is that standing before them was one of their own, a senior official at kraft who laid after their feet responsibility in large part for the obesity crisis, and pleaded with them to collectively do something to turn it around on behalf of consumers. and from his standpoint, the meeting was a total disaster. the ceos reacted defensively,
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saying, look, you know, we already provide low fast low sugar items for the customers who want them. we add whole grains, we do this, we do that, but we're not going to down-form late or products. >> we did get a statement just a short while ago saying that michael moss's work misrepresents the strong xhintment that america's food and beverage companies have with providing the products tools and information they need to achieve and maintain a healthy diet and active lifestyle. that's from the grocery manufacturers association. what do you think? what do you make of that statement? >> look, i have two boys, when we go shopping at the grocery stores, those products are still there. i think what people really have to understand is that the playing field in the grocery stores, anything but level for consumers. the companies are just zealotly
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pursuing formulation production of their products to -- these are not evil empires out to make us purposely obese or otherwise ill. in fact you cannot blame any single of their products. the problem lies in their collectiving in to do what companies do, which is to make as much money as possible selling as much product. >> you maintain they target children and as a mother of three kids, i know when i go down a certain aisle if there's a character on the grocery box, they want that grocery box. is that what you're referring to? >> i so empathize with you, sue. i like to call my boys my walking bliss points, because that's what the industry calls the perfect amount of sugar in its products that will send us over the moon, and they engineer those foods for the maximum cravability. i'm hoping this book is a wake-up call not just for the industry, because so many people want to do the right thing, but
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also for us as consumers, to help give us some power when we walk into the grocery store. when you see and know everything they're throwing at you the second you walk in the door, it really helps you as shopper to do the right thing. >> to make the right choices. best of luck with the new book. >> thank you so much. >> it's called salt, sugar fat." >> so how do you stop hackers and the end of el prenup? that's all next in the power run-down. we understand. our financial advice is geared specifically to current and former military members and their families. life brings obstacles. usaa brings retirement advice. [ male announcer ] our usaa retirement guide provides advice
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but i am your market data. i know what you're looking for. i'm not chained to your desk anymore. i'm faster and smarter now. and so much less expensive. i am your market data. and if i do say so myself, i have never looked better. superderivatives introduces dgx. data done differently. they're up better than 5.25%. douglas bergeron is stepping down after a dozen years at the helm of the card payment systems maker, he'll be replaced by the
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chairman richard mcgin. ty, over to you. sue, time for the power run-down. let's talk first, guys about the secret service investigating a possible breach of michelle obama's credit report. mu, jauchb, can they hackers be caught? >> i would be be in favor of extremely harsh punishments, but trying to stop them is like trying to stop the rain. you can carry an unbremonda, but you're not going to stop it. maybe just don't wear your suede shoes. just take precautions. there's not a lot we can do. >> you have to think outside the box here to stop these people. to stop a hacker, get to their life's blood. bring in mayor bloomberg to
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manage their food plans, no red bull, no five-hour energy drink. no raman, it will stop them cold. >> marisa meyer, who has been getting flack, now she's tightening yahoo's hiring practices, refusing some candidates who didn't attend so-called prestigious college. do you have to go to a good university to be a good worker, jane? >> no. look if they hurricanes yahoo! around in a year, we'll call her a genius, but i will say this about going to a stop school. it's hard to get in, and it's proved you've been able to achieve a goal and get a degree. that's an advantage, but it doesn't necessarily make you a better worker than say an nco who's been thinking outside the box in afghanistan. remember, there's still always someone it is bottom of the class at harvard. >> going to a prestigious
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college shows you conform with other people's ideas. it doesn't necessarily mean you're the kind of person that a place like yahoo! needs. but broke free of things like going to college or -- >> interesting thought there. another hot topic a long island mother of three has won a case in which a prenup was overturned between her and her multimillionaire husband, a landmark case, the woman saying her husband didn't keep a verbal promise and coerced her into signing the prenup four days before the wedding. jane? >> ha ha, um, here, if this thing lasts f. verbal contracts hold up in court will change all contracts, not just prenups. here's my thing. if you're not willing to risk losing half your fortune, don't get married. >> i have to say that i think lawyers are very smart people.
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i'm one myself. i've never been a divorce lawyer, but i'm sure they'll figure out how to make the contracts stick. there's a lot of money at stake. that's one thing lawyers are good at, protecting their clients' money. the push for laws, laws requiring paid sick days. so should paid sick days be mandated nationwide, john? >> absolutely not. if you're a healthy workers you should be able to tell your boss, i never take sick days anyway, pay me more, that should just be part of your negotiation. >> i like that flip flopping. yes, i think businesses need more rules, don't you? i have worked in jobs where i've had paid sick leaves and where i've not had it. when i've had it, i've called in sick more and i wasn't always sick, and i still came into work sick, so i don't think we should necessarily mandate that. >> that worries me. >> i know, i'm a horrible person, but i'm not the only
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one. let's go down to eamon javers. >> yes, some breaking news on the apparent hacking attack against michelle obama we talked about earlier in the day here. we've got new information here. let me explain what it is. some of the material that was posted on the website about michelle obama appeared to come from a credit statement from transunion, including details of her financial activities like banking, mortgage, student loans and some other things. we have a tame here from transunion itself, which adding some dizzy tail on what happened here. transunion saying -- nothing is more important to transunion than the security and accuracy of the information we maintain on behalf of customers. the systems were not hacked or compromised in any way. instead they say the sophisticated perpetrators of these fraudulent activities had considerable amounts of information about their victims, including social security numbers and other sensitive personal identifying information that enabled them to
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successfully impersonate the strips over the internet in order to illegally and fraudulently access their credit reports. so what transunion is saying is that somebody did something on the internet by entering in information they already had about presumably michelle obama and some of the other celebrities here involved in this apparent attack. that's how they got these credit reports which have now been posted on the internet. transunion saying they're working with law enforcement closely on all of this, phi her, so fast moving story, but new details. >> eamon javers, thanks very much. let's switch to dennis rodman, he's made a friend for life. the latest chapter with his friendship with kim jong-un. what a pair.
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