as -- >> wondered will they lower the bar? people are waiting for that. >> final trade. steve? >> tbf, short the 20 year. i can't believe rates aren't higher at this point. >> aetna long. >> and bought usb this morning. >> alcoa. >> that does it for us. not the governor. he's still talking. "power" starts next. thank you very much, scott. the governor of new jersey. that guy, chris christie, some believe the republican front-runner for the white house in 2016 speaks out and speaks and speaks. in the wake of a scandal here in new jersey. just a few miles from us, down in fort lee, old home town. fired an aide for getting back at a democrat who didn't endorse the governor. covering the governor when he comes to fort lee later today to apologize to that mayor. sue, meanwhile, at the new york stock exchange. that's begin with you, scott. the details?

railro . >> tyler, we'll find out. it's not entirely clear they've receive the governor if he comes to fort lee. the story of governor chris christ christie, has changed. today for the better part of two hours the blunt no-no sense governor answered questions in trenton, apologized repeatedly. he was sad, had to inv in the traffic closures clearly done as a political vendetta against the mayor of fort lee and the straight-talking postpartisan governor insisted he is not a bully. >> no. i'm not. i mean, listen, kelly, politics ain't bean bag. okay? and everybody in the country who engages in politics knows that. on the other hand, that's very, very different, that saying, that, someone's a bully. >> now, out of a job effective immediately, bridget kel. the governor's deputy chief of

staff who wrote the now infamous e-mail in september, time for some traffic problems in fort lee after the mayor of that borough apparently was not going to endorse christie in his re-election campaign. chris christie has said as we reported that he's going to come to fort lee to personally app l apologi apologize. the mayor, just a short time ago said that he appreciates the comments, but says he wants the mayor to wait until the investigation is complete. that investigation is going to go on for a while, but christie says he feels its important for him to come to fort lee today, if the mayor won't meet with him, he'll meet with other people to apologize personally. sue? >> actually, scott, let me pick up with a quick question there. how did this press conference of christie's end just a few minutes ago? >> well, it ended with him talking about this whole situation with, well, if the mayor doesn't want to see you what are you going to do? he said he felt it was important for him to be there personally. he went on for two hours. took pretty much every question everyone was going to ask, and

probably had to do that, and is trying to be as contrite as he possibly can be, and, again, trying to portray himself as anything but a bully. >> scott, thank you very much. sue? >> well, time to talk about what the national implications for governor christie, and in that factor, for any presidential hopes he might have. eamon javers is in d.c. d.c. is a tricky down, eamon. so what are you hearing on that front? and what are the possibilities now for the governor? >> yeah, sue, obviously all eyes in washington focused on that press conference in trenton which just broke up a few minutes ago. everyone filtering this through a 2016 campaign lens, even though that campaign hasn't officially started yet and won't for a couple of years yet. obviously, this is damaging for governor chris christie. no question about it, and we saw something interesting happen a few moments ago. the white house postponing their daily briefing from 12:45 when the press conference was still

yog gone to 1:15, we know at that time it will be over with. having the political and practical effect of keeping the national media spotlight on governor chris christie while that press conference was still ongoing. you can expect the white house will say that was simply a coincidence, clearly, folks paying a lot of attention here. christie clearly did very, very well here. is getting a lot of praise already from professional political consultants for the way he's handled this, but that one sound bite, sue, you can bet, will come back to haunt him. he said, i am not bully. one of those things that sticks with a presidential campaign in the years to um can. >> it does. you know, talk to me about the perception, which the governor says is a misperception, that he is a micromanager. he says he is not. the perception in washington and elsewhere, and it became an issue when rumored to be running for the presidency, that he was a micromanager, and, therefore, should have, or probably would have, known about this particular incident. >> right. well, the tans he's taking right

now is that he had nothing to do with this. he wasn't involved. these were rogue aides now disciplined. he wasn't even aware of it, he said, until he finished up his session with his physical trainer yesterday morning at about 8:50 a.m. the first time he saw any evidence that his political and his gubernatorial staff had actually been involved in this situation. he's going to stick to that. if you're going to stick to that you have to say i'm not a micromanager. these are some of his closest political and gubernatorial aides apparently involved in the situation, if he was a micromanager on on top of those people on a day-to-day, hour-by-hour basis he would have known about it. >> more breaking news. brack to scott. back again to the governor's press conference, talking about wanting to go to fort lee to apologize personally. this is towards the end of the news conference. let's roll that bite right now. >> i was going to call him after this. if he won't see me i'll see other people in fort lee.

i wish he would see me. i'm certainly not going to barge into his office. if he doesn't want to see my office, i'll go someplace else in fort lee and talk to somebody else in fort lee. i wish the mayor would reconsider. i would come up to genuinely apologize to him for the people in my employ, but if he doesn't want a meeting. i don't know what he means. how a meeting between he and i would be -- what were the words? >> premature and -- >> creating a traffic -- >> premature and disruptive. i don't know how that could be premature and disruptive. if he doesn't want to meet with me, that's his choice. >> the governor about ten minutes ago responding to a statement by mark sokolich saying he didn't want the mayor to come up and visit him. after that we now hear from sokolich saying that, he's reconsidered and governor christie should come on up. it appears there will be a summit of sorts over in fort lee, the next town over from here. we will be there live when it happens and continue to follow this latest aspect of

bridgegate. back to you. >> and maybe they'll get together at the old red oak diner, scott. a place i know you know well. renamed now as the chiller grill or something like that. somehow, stick with business and ask whether business executives should take chris tip lead, follow it, and get on top of the situation when things go awry and do it as seemingly forthrightly, instantly and lengthily, as governor christie just did. former microsoft coo bob and mayor, the howard bank's chair in business ethics and leadership at the university of nebraska join us. welcome to both of pup bob, lem begin by asking you, what is your initial reaction to governor christie's almost two-hour press conference in which he repeatedly apologized, not something you hear business executives or certainly political executives do very often. >> well, i think it's the right thing to do. what happened may or may not be

within his per view. mo most likely it wasn't and those kinds of things happen occasionally and the best thing to do is be up front about it. >> that is certainly his reputation. professor mary, we're going to take a break and report on a bond market out in chicago. i promise to come back to you instantly. hold on. here's rick. all right. 13 billion 30 years actually 29 year 10 month reopening, a minus auction, by far best of the three. highlights. 2.57 the bid to cover. $2.57, chasing every dollar worth of securities available. the last ten auctions, second best. strong direct, strong indirects and the yield 3.899 below the yield in the wi market, but right at 1:00 eastern. a minus auction. yields have fallen across the yield curve after the results were out. tyler, back to you and your interviews. >> thank you very much, rick.

professor, you know, one of the things you do is have a chair in leadership. here was an example of leadership. what great would you give governor christie if you were his professor? >> the chair is also in ethics. it's the howard hawks chair and leadership and ethics. the grade i would give him a b-plus. high marks for the way he handled the press conference today and for taking quick action, but i think that he could have done more in his administration to make sheer thuz kinds of things don't happen. >> so you sort of -- reading between the line, don't mean to put words in your mouth, professor, you seem to be downgrading him a little bit on the ethical part of the ledger? right? >> i do. yes, i am. i think that one of the issues that he might be having is, and the interview that i read, he said that he spoke with his employees and gave them one hour to tell them if they had

additional information. to me that sounds like a bit of an intim-tation and fear climate, and if he can be more open and allow people to speak more openly in his administration, it would help avoid these kinds of issues. >> bob, you've worked with powerful people in the business world, and know that sort of the dynamics of office holders in a corporate setting. is it credible to you that the government, that the governor, the ceo of his state, would not have known or been told by a deputy chief of staff that what was going on was going on in fort lee with respect to the hearings? is that the way executive councils work? >> it's quite possible, and, in fact, in my -- i believe it's probably the case that he wasn't aware. the reason is, these are large, complicated organizations. you do your best to communicate what you believe are the principles. the right thing to do is to give examples of the kinds of things

that people should avoid, and the repercussions for engaging in such activity, but the fact is, these organizations are large. you try to delegate responsibility and occasionally these things happen. >> bob, mary, thank you very much. we'll pick up later on this same toing, extend it farther. meanwhile, down to sue and the businesses at hand, which is the markets right now. >> indeed. a little down side day, although not by much now, ty. down 12 points on the dow jones industrial average. last trade, 16,450. basically flat, s&p, down half a point at 1,836.91. nasdaq down a fraction as 764. and the auction, ricky gave an a minus to. the tenure, whether or not we move above the 10% mark.

yesterday we saw it tick up above the 3% mark and they're watching that down here, too. ty, over to you. >> sue, thank you very much. we're facing a fif mg down day in six since the start of 2014. not the streak, dominick, you like to start a new year with. is it time to start thinking about taking some profits? there are, i guess, some stocks that are still climbing the wall of worry. >> it's interesting. market veterans, you said, will often refer to rising markets in the face of head winds, as bull markets that climb that wall of worry. so in a way it means no matter what there are always going to be issue, concerns and oftentimeses it doesn't hamper progress. there are too many of these worries to count, but here are a few of the ones as of late getting attention. first, the possibility of weaker corporate earnings. cliff noreen thinks cost-cutting and productivity have peaked. meaning profit growth may have to come from selling more product. a novel concept. second, what about rising interest rates?

the chief u.s. economist stephen is concerned about what happens if fed tapering leads to rising rates and will that hamper momentum in the economy? third, what if europe takes a turn for the worst? and a note to goldman -- note clients, goldman sachs said while growth in the region is forecast to be better the turnaround is far from complete, and then there's the world's second biggest economy, we're talking about china, of course. andy bush of the bush update is worried about what happens if there is a slowdown in gdp there and what the ripple effects are if that does happen. now, those are just a few of the worries, but each, like pink floyd said, is just another brick in the wall. so, sue, let's keep climbing that wall of worry and see if stocks can find some footing in the face of those head winds. back to you. >> thank you. we'll see. and talk about this with kenny and bob pisani. not bad, down 15 on the trading session. interest rates in play, obviously. what are you watching? >> and you can almost feel in

kind of the lack of volume. right? once again kind of on the slow side compared to where we've been. people are waiting. all of this anticipation especially after yesterday's adp number, which came in much stronger than expected. upgraded -- they raised the prior month's adp number. >> revised up. >> people are anticipating what does that mean for tomorrow? a strong number does that mean the fed could taper faster than we think? >> hold on one second. okay. we've got to go back to dom for a market flash. >> diamond foods, san francisco based snack company paying $5 million to settle civil charges that the company and two former top executives misled investors by lying about walnut costs to boost earnings, in addition, diamond's former chief executive officer michael mendez agreed to pay a $125,000 penalty and settle without admitting or denying those charges. the sec said that in its statement. the company's former chief

financial officer stephen snee still fighting, sue, the sec's charges. back to you. >> stocks up 1.25%. bob, you were saying? >> watch the numbers tomorrow from the non-farm payrolls. whisper number over 200,000. get 210,000 keep the three year, not moving that much, 3.03 a few basis points, we'll be all right. look what's going on here today. winners, health care and financial, and losers are emerging markets in the retail stocks. real dill appointment to see retail numbers. >> and china, ipos pricing this week alone. an issue for that market. >> the emerging market, china's down in the beginning of the year. all emerging markets are down. 4%, 5% and 6% weighing on material names, coal names and steel names weak at well. >> and kenny, last word. >> part of the markets are down because the anticipation of a fed pullback and then if our numbers continue to get stronger, are they going to pull back faster and what does that mean for the emerging markets?

you have to keep your eyes open. >> absolutely. ty, over to you. >> sue, thank you very much. i think bob took the words out of stephen liesman's mouth. tomorrow, the big job's report. he, steve, has five good signs that you think we, that tee up think report tomorrow? >> behind the optimism on the street. claims coming in, tyler, 330. a bit better. falls to 349. not the most reported leading indicator above of tomorrow's jobs report. here are five. adp. three month average, 324,000, just the private sector, and the government sector not taking away jobs. both employment indicators are up in december for the supply management reports. service and manufacturing. small business, nfib, reporting best jobs numbers since 2006. of course, gdp is significant suggesting improved job growth, up 3.5% in the second half of the year. finally, challenger coming in with the lowest job cut totals

for 2013 since 1997. john challenger, this morning on "squawk box" putting that number into context. >> we haven't seen a cut this low since like you'd said at the beginning. back in the late '90s, before the dotcom crash. layoffs were very low. economy rolling. think than. that's a 97 number. >> tyler, 30,000 in the month of december. there we go. three-month average of adp versus the bls or government report, steadily on the way up. we try to dwluz three-month average to get rid of the month-to-month noise. finally, forecast for tomorrow. 200,000 jobs up from 191, 193. >> unemployment, 7%, improvement but elevated. one should not understate there is still weakness in the job market. >> and number of long-term unemployed. big number.

steve liesman, we know you'll be all over it tomorrow. sue, down to you. >> ty, coming up on "power lunch" two stories of rule breaking. morgan brennan has the first for us. morgan? >> alcoa in big trouble for bribing officials overseas. that straight ahead, sue. and it wasn't quite as big as a fine. the federal authorities aren't after this new york knick, but the nba is, the old shoelace trick and bribery made in the usa. we'll talk about that coming up next.

watch the left side of your screen here. you'll see the new york knicks guard jr smith untying the shoe lace of the other player. nba had it with him. fined him $50,000 for "recurring instances of unsportsmanlike conduct." the top official of the nba happened to be at that game in detroit. the shoe lace i mentioned, something smith has been known to do in the past. see if it helps him when they play the miami heat at the garden. i don't think lebron will fall for that. >> i don't think he either. thanks, ty. and paying settlement charges. the sec said they bribed bahrain to obtain rights to businesses there. what can they learn from this

and do about it? with us, bob herbold, who sits on two of the boards and from the university of nebraska, and i'm going to you, if i could first, bob. you know, there's two trains of thought on this. one of which is doing business overseas is nerve e-- never the same as doing business here. are there ways to get lucrative contracts where taking bribes is pretty routine? >> it's a real challenge. for example, in china, i've had recent experiences with a company where, frankly, the sales practices in certain industries are different than they are here in the u.s., and you have to train and train and train your people that you're simply not going to accept that. that you have to live with that disadvantage, and if you're a u.s.-based company, that is a price that you pay. the fact is, as we talked in the

earlier segment, communication to the employees as to what's expected and the ramifications are absolutely critical. >> mary, weigh in on that, if you would, because, you know, in this increasingly global environment that multi-nationals and even smaller businesses in the tech arena that are now doing business overseas. you know, when business as usual in one country is not the same as business as usual or business that is legal in another country, those businesses face some very stiff ethical challenges. >> i agree with bob. it is a real challenge, and the foreign corrupt practices act, the one that tells us we cannot engage in bribery over seas is the one that people struggle with quite a lot. for many of those countries, that's their normal practice. we do it, because we want to uphold hire standards and believe that having higher standards will help increase standards around the world. for company, though, what they need to do is what bob said. they need to train and train, but they also need to have the

right kinds of ethical climates and cultures. the way you get ethical climates and cultures, make sure you reinforce the values that are important to you and that you have a lot of opportunity for open communication. so you have to make sure that you're not pressuring for results, over the importance of being ethical. >> exactly. what i was going to put to you next, bob. which is, the result-driven bottom line. not just for many employees who are jumped on how well they did in those new markets, but also to shareholders, who expect a lot out of the companies whose shares they hold. >> absolutely. that's the challenge for leaders of corporations. they've got many pressures that they have to deal with, and consequently, these ethical decisions are highly important, and key priorities need to be put against the principles and the communication of those principles to the troops. >> all right.

thank you both very emergency. we appreciate it. bob and mary. ty, up to you. >> all right, folks. alcoa, talk about them, gearing up to report profits after the bell. the ceo will be on the closing bell. that's klaus, and why so many analysts are getting so bullish on aluminum, even though the price of the metal has been what? declining? >> declining. thanks, tyler, yes. aluminum prices nose dive down about 37% from their 2011 peak. now historically aluminum stocks moved in tandem on the lme. look at this chart of alcoa to see what i mean. according to analysts investors might want to think twice before assuming alum num prices give full valuation of alcoa stock. the reason, alcoa and others diversifying business. cutting down smelting operations and bug king up on things like truck wheels, industrial gas

turbines and aluminum body panels. case in point. alcoa supplying body panels for ford's new f-150 pickup truck. the industry is looking beyond aluminum into nickel and even titanium. products used in aircraft. how important is diversification? well, for alcoa, it accounts for 57% of total revenues, and 79% of after-tax operating income through the first three quarters 2013. analysts say alcoa is a thought leader in diversification. other company, soon to follow suncht interesting. an interesting company diversifying its operations. morgan, thanks. go to dominick for a quick market flash. >> thanks, tyler. jpmorgan, planning to sell or exit over time it's business of issues pre-paid cards for corporate payrolls and government tax refunds and benefits. reuters reporting the cards which have been offered with cash and treasury services to companies and governments have become a headache of risks and operations and regulations.

last month jp morgan warned some 65,000 holders of the cards, their personal data may have been axed by computer hacker who just attacked its network in july. watch the shares, exiting at least one card. back to you. >> dom, thank you. more now on what our top story was -- governor chris christie's crisis, apologizing for a staff member causing a massive traffic jam in fort lee, new jersey, for political payback. new jersey general assembly majority leader louis greenwald joins us, a democrat, responding to the george washington bridge scandal and joins us on the newsline right now. thank you so much for joining us. first, your reaction to the governor's news conference, and do you believe him? >> well, look, i'm -- i'm glad that he stepped forward. i'm glad he held his members of the staff accountable, and i think, you know, with the absolute spotlight that is on this issue, i think you have to take him at his word at this

point. my advice and recommendation would be, with everything that's at stake, the e-mails presented, the public has an absolute right to complete transparency, and i think the greatest way to rebuild public trust at this point is to provide those e-mails without the redaction. so we can see exactly who were on the e-mails, who knew what, when they knew this information, what they did with it, to completely open this up. the public has a right, the public trust has been broken. these actions are the most outrageous abuse of public trust for political purposes. it reminds you, takes you back to the days of watergate and nixon doing something absolutely absurd. >> to be clear, you're calling for the complete release of all of the e-mails involved in this particular scandal. would you like to see further action by the governor in terms of removing staff members? or did he do enough?

>> well, i think by providing the e-mails with -- with, you know, complete transparency, it may tell us if there needs to be further action. i think at this point it's hard to say without having, you know, an unvarnished view of the e-mails. i think in addition to that, while i understand the governor and, he should, as an executive, wants dig deeper and ask questions as to his staff and what they knew, i think, you know, to be honest, the public is probably going to want, as they should, an independent review. an independent council to come in and review. now with the u.s. attorney's office doing a preliminary investigation, i think we need to be conscienous we don't wanto disturb any of the evidence. the truth of the matter, i don't know that the governor himself with the hirings that were made and the actions that he took today is the best person to do that independent review. >> all right. assembly leader greenwald, thank you for joining us on the phone.

we appreciate it. >> thank you for having me. to the market now. the gold market is closing at this hour. and the last trade on gold is up about $4 on the trading day at $ $1229.70. and governor chris christie apologizing at a lengthy news conference overish the bridge scandal. has this killed any president's dreams he might have, or not? plus, marijuana and money. pot prices soaring in colorado after legalizing that drug. we'll talk about that in just a minute. we're going to talk to someone who just got his license to sell it for recreational purposes and we'll see what kind of demand he has seen. make it happen

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well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. welcome back to "power lunch." a 30-year bond action. a solid auction. a minus. look at intraday chart. rates dropped a bit after the auction. the old way it used to be after supply. the two day chart. left or right, about the same yield. right? two day of fives. how the right side yield is so much higher? your curve flattening. the big buzz on the trading floor today. tyler, we'll return after two minutes with "power lunch." in my world, wall isn't a street. return on investment isn't the only return i'm looking forward to. and my parachute definitely isn't golden.

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the market's on hold a little now. gearing up for earnings season which begins today, of course. bob pisani to handy dhap for us. >> bank stocks and health care pap big loser, retail stocks. 50% off sales in the holiday season, still had companies coming out and reducing their

retail outlook for the quarter. pier one, family dollar, american eagle, reducing guidance. what's going on? obvious. internet is taking a big chunk out of store sales. in the third kwaushgs quarter, e company, samsung, apple and amazon. that's why we're not getting a lot of sales growth in the stores. online is starting to bite into over allsales. moving on, another winner. oil numbers keep dropping. oil prices keep dropping down to new lows here. seeing airlines with big moves to the yum side. united, american, delta and southwest. a few clear winners, but also several losers. i also include emerging markets as another loser right now. sue, back to you. >> okay, bob. thanks. ty, send it back up to ec. >> sounds great. we're just next door to fort lee where all the controversy was taking place last fall, the traffic signals. i drive through fort lee every

dpap of course, it's gotten governor christie into some hot water. the outspoken leader of the garden state she/he ays he is s. >> i come out here today to apologize to the people of new jersey. i apologize to the people of fort lee, and i apologize to the members of the state legislature. i am embarrassed and humiliated by the conduct of some of the people on my team. >> here with us now to discuss this further, michelle and brian, welcome, guys. >> hello. >> we all know you were stuck in traffic that day. i don't remember it. >> i do. >> one of the things christie said was, politics and local politics is not a bean bag. you've covered a lot of local

politics. >> right. >> is the kind of retribution by an office holder or his or her staff commonplace? >> oh, i think it is. now, to this degree where you affect potentially millions of people? at least thousands of thousands and thousands. busiest bridge in the world, haven't seen that, but certainly, you know, he said i'm not a bully. you know, i kind of think he is. and i kind of think a lot of people liked it. that's what they liked about chris christie. >> he's right at you. >> the youtube video, in the face of the teachers dooring the whole debate about what the budgets would be in the state. this is a little of his persona. >> somebody doesn't get the job they wanted, a local office is not located in your town or whatever, you and i were talking earlier. i thought it was remarkable that he spent basically two hours onstage basically saying, bring it on. come on. answering anything. >> tyler, ehere's my view, i ca only say this as a new jersey resident. if you like chris christie, is

this going to make you dislike him? >> no. >> exactly. you know, my dad is probably a christie fan. he's not going to change his views of, all right, now i'm going to vote for clinton or somebody else in 2016. and if you hate chris christie, this will probably make you hate him more. i don't know if anybody -- i'd love to hear from the audience on twitter, who will change their view of the governor because of this. be honest in a different way. the only reason we're talking about this is because she considered a front-runner in the 2016 presidential race. if this was joe blow in another city in america, doing the same thing, nobody's going to talk about it but the local times picayune. the fact it's getting this much coverage is a de facto sign of his poppopularity. >> lots of people will talk about this all day long. >> in about 20 minutes on "street talk." >> i love that. yeah, man. >> talk about grease. >> all right.

dominick with a market flash. >> talk about this. exxon/mobil down graded to a neutral and ap recent run-up in price in approach of major expensive projects. maybe a drag on profits. exxon recent gains leave a little more in terms of upside the left to justify the reading's watch those xom shares. back to you. >> thank you, dom. coming up next, our signature segment. the "power house." top real estates in america, today, the suburbs of new york city. how much do homes buy for your money? and low inventory. soaring prices. talking marijuana. store owners in colorado are raking it in, but they're facing a big problem with all of that cash. we'll explain, when "power" comes back. [ male announcer ] this is the story

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jersey governor chris christie in the hot seat. what this means about his potential road to the white house. we'll debate that. and also, why should we pay attention, a look at that as well. lots of things coming up, guys, "street signs," top of the hour. back to you on "power lunch." it's power house time this week in the suburbs of new york city. looking at beautiful westchester county. anthony is an agent there. anthony, welcome to the program. run through stats for westchester county for single family home, third quarter of last year, median sales price, $652,000. average,ss 862,000. you see the year over year gains. sales up 23% total last year. inventory, though, down. suggesting, anthony does it not, housing are moving? >> houses moving at about a six-month inventory level. >> six months on the market or inventory level? >> six-month inventory level. about where you want to be in this kind of market. >> west chftor, a vast county

north of new york city. so different markets would be very different depending where you live? >> true. our office, we are in lower westchester county. basically we're seeing -- i have about a 50% year over year baglogue ba backlog of closings. >> three bedrooms, 2.5 baths, 17,050 square feet. a starter house in west chaster? tell me about it. >> a great starter house. you can own this for about $2,700 a month. the comparable to renting a $2,000 apartment. it would be a great way to get in to the market. >> what makes this one stand out? thatting whos like a very nice -- you got to like red there, i guess. >> it's very well maintained. a home in the middle of our historic district, on the lower price point of the district. the average sale price, in the areas between 500 and 600 -- >> doesn't look like that right

now, does it, anthony? it's icy up there. >> been cold. >> second listing. 740 pelhamdale avenue. list price, new rochelle, $19.162 in taxes. 3,700 square feet. look lovely. >> tremendous home. low priced. end of the day, taxes fair and reasonable. .4 piece of property. >> about half an acre. look at the woodwork throughout the home. >> the home is from 1905. >> more than a 100-year-old house. >> yes. >> beautiful. $659 grand if you want to get in there. list price, $1.1 million. 23 grand in taxes. four bedrooms, 3.5 baths. 4,100 square feet in new rochelle. a split he? >> a ranch, modified.

the woman that lives in the house takes care of an elderly parent. they put in a beautiful extension to accommodate a living room bedroom and kitchenette. >> for a -- well, used to call it an in-law suite or a child. >> unique. it's definitely a great value for this home. it's in an area of up to $2.2 million. on the lower price. >> look. beautiful. hardwood floors there. >> yes. >> anthony, thank you for being with us. taking us on a tour of westchester county. appreciate it. sue, down to you. talk a little about marijuana. >> absolutely. what we're going to do ty, because the marijuana business is booming in colorado. we'll speak with one pot store own about demand, inventory and prices right now. also a lot of marijuana dispensary owners are facing a big problem with all of the money they're making. jane wells is in denver with that part of the story for us. janey? >> reporter: sue, there is one key player missing from colorado's joint venture. the banks. they have to abide by federal

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demand is high, inventory is low, and prices are surging. the pot business is booming in colorado after legalizing recreational marijuana use. many marijuana dispenries are phasing a dilemma with all the money they're making. we explain. >> i do the farm report. not quite ready for harvesting yet. the rollout pretty smooth but big hurdles. one is banking. that's because selling pot while illegal state business is not a legal federal business, so no credit cards all cash, few bank accounts. stores like 3d cannabis where i am, able to have a bank account because owners also have a landscaping business. for many others, bank is a safe, stuffed as medical profits make room for this new market. >> we may be able to open up an account. soon as they start smelling our money and it smells like marijuana they investigate us and close down our accounts. we may have accounts two, three

months. so many in the industry are, their accounts are getting closed left and right. >> it really is a huge issue. the denver city council passed a resolution asking that these businesses have access to the federal banking institutions and there's another problem. if you have all that cash on hand, and this is a business the feds consider illegal, you'd better not be caught with a gun. sue? >> indeed, janey. thank you very much. appreciate it. let's talk to someone who may be facing that very dilemma that jane outlined. we'll meet the other than of star buds of denver. brian rudin, left his job as a lawyer a couple years ago to open up a medical marijuana dispensary yesterday got the thumbs up to operate for recreation's use of marijuana. are you facing the issues outlined in jane's report in terms of how to protect your cash, where you can deposit your cash or not? >> well, thanks for having me.

and, yeah. i faced the same issues that the rest of the industry faces as well. >> so what do you do with your cash? >> well, with as much as possible, we pay all of our bills, pay all of our taxes, any vendor that accepts cash, that's how we pay them. we get money orders to pay things like our sales taxes. the state actually takes cash now as former payment for licensing fees. so city of denver, same thing. we pay our licensing fees in cash. it's not uncommon to walk in to the state or the city with $10,000 cash, plunk it down and pay your fees. >> and i understand business is booming? is that correct? both on the medicinal side and now that you're approved for recreational use, i assume you're seeing greater demand? >> yeah, we really are. so at star buds in denver we open for recreational use yesterday. didn't have huge lines like the other stores did, because we

hadn't gotten the word out yet. i'm sure after this we'll start getting slammed like the other stores, too. >> brian, let me ask you a couple questions. first, have you heard from that other company whose name yours sounds rather like, starbucks and whose logo yours rather looks like? you're an attorney. if you haven't heard from them, i suspect you may. i don't know if you have children, but what would you tell your children about the use of marijuana? >> your first question that other company i've never heard from at this point. if i do, i don't sell a product like theirs and my name is different. so i suspect it will be okay. if not, well, then we'll figure that out. as far as kids go -- you know, under colorado law, this is a product for people 21 and older. and, you know, i'm a big proponent of marijuana, but also a big proponent of using it in moderation. so, it's not for kids. >> what about those who perhaps have an issue with drug abuse,

and there have been studied that have indicated that recreational marijuana use opens the door to harder drugs? that's the fear of some who are on the opposite side of your argument. what would you tell them? >> well, if you look at the actual research and the studies, that's just not true. marijuana is not necessarily a gateway drug. that's been fear mongering we've had in the past. it goes back to the days of reefer madness, if you will. but if you look at the reality, marijuana is safer than alcohol. it's less addictive than alcohol. and it's safer and less addictive thaddict ive than all of the prescription drugs out there. a lot of patients on the medical side given up percocet and oxycodone and are functioning better through marijuana. it's been a huge improvement in their lives. >> thank you for spending time with us. good luck with your business and we hope you'll come back and

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markets. a little caution tomorrow in the markets. down about 31 points on the dow jones industrial average. s&p down about 2.25. quiet trading there. nasdaq composite down about 14 points. very good auction today. the 30-year auction came off with an a minus grade from ricky and now the yield is 2.98%. yesterday we were bumping up above the 3% mark. today not so much. again, there's caution ahead of that jobs report. tomorrow the estimate is for a gain of 200,000 jobs. we'll see whether or not there are revisions. that's what a lot of people are looking for, whether or not we have upward revisions or downward revisions. most people are anticipating, perhaps, an upward revision to some of the previous reports, which would lend more credence to the fact that the jobs picture is slowly but surely improving in the u.s. and the dollar right now has been basically steady, waiting for that report. pro shares, ultra short. oil is up 2%. the spider regional bank index up half a percent and market

vectors biotech tie up almost 1%. >> i don't know about you, sue, i am struck how cautious and tentative a start stocks have had in this 2014 so far. >> absolutely. we gained better than 25% last year. maybe that's what it is. >> probably explains why. thats does it for this edition of "power lunch." thanks for watching, everybody. >> "street signs" begins now. can you guess the world's best performen stock market so far this year? you probably wouldn't believe it. the surprising answer is coming up. hi, everybody. the other hot topic on this thursday, new jersey governor chris christie not getting a surprise. he wants bridgegate, could it slam down his hopes in it's presidential race? and the aol