allergan currently higher about a percent. bill ackman went directly to the shareholders about his $47 billion takeover bit with vailian. now allergan is responding in part -- this is obviously a self-serving exercise. so tyler, that battle is heating up. that will do it for this edition of "power lunch." "street signs" begins right now. see you tomorrow. is housing really all that affordable? we hear it all the time these days. we're going to take a real dive into real estate, ahead. plus why taxes tell the tale of where everybody seems to be movable, an interesting debate whether you should be required to take a simple test before being given a loan, while i got a little testy on politics this morning. okay, mandy, it was a rant. >> i can't wait to see it all over again.

can you smell the complacency in the air? >> i wish it was bacon. we have the vix, the fear index. it has collapsed near one-year lows. you 2014, holding on to mild gains. i forgot to mention we have record highs, with the s&p 500 hitting 1900 for the first time ever. we kissed it, we're just off the -- there's a real but if you look at the home builders, which is part of this -- they're all rising. the head of it.

doesn't favor d. to get more access to homes. on the other side of the household durable spectrum, names like whirlpool, masco, suggesting that perhaps there are certainly segments of the housing or ancillary markets, so if you look at the home build ers but on the other side of things, the retail sales numbers show that appliance sales may be not as much as other -- but some positive stories for houses and home builders, some negative stories for some of the building product companies. forget game of throne, this episode will be known as the game of tests. machbdy, your opening quiz today. according to truia, out of seven

homes for sale in the san francisco metropolitan region, how many would be affordable to the middle-class purchasers? >> to the middle class, based on my findings, only 14% of homes are affordable to the middle class in san francisco. 25% in new york, and i think it is over 80% are affordable to the middle class in detroit. is that right? >> now she's just showing off. it shows that housing affordability affordable. now, nationally home prices still look undervalued, people are looking in a particular market, while it's fairly artable.

a quarter or lest are affordable to the middle class. >> and shocking park is if with a high school degree, your affordable is almost zero. >> for weep with a high school degree or less, even places that are generally affordable like chicago, atlanta or phoenix are also out of reach for home buys. >> can you back up just a bit, jed? define artable. we obvious here you shouldn't pay more than three, maybe four times your income for a home. >> three or four times your income doesn't always apply, depending on what's happening to mortgage rates. it also depends on property taxes and insurance which can differ a lot. we break it down by looking at how much house you can afford if you're not going to spent more than 31% of your income. >> net or gross? >> that's gross income, pretax, on housing. that includes mortgage, taxes and insurance.

for middle class household. you'll have a hard time find ago place to buy in a lot of the coastal markets. >> all that being said, is it cheaper to buy than to rent? >> renting has gotten even less affordable. when you factor in the mortgage interest deductions and the fact that home prices will probably appreciate over the next seven years, it still means it's cheaper to buy than rent if you can qualify for a mortgage and if you have that down payment in the first place, which all lot of people don't have. >> so if renting is becoming less affordable, would we view that necessarily then as a bullish sign for housing? >> so it means for some people who can get a mortgage, can make the yount maim, it's even less affordable, but there is another choice from buying and renting, that is living with roommates, living with your parents. in other words not being in the housing market yourself. we saw a huge increase in people living with their parents and room democrat mates during the

recession when both buys and renting got out of reach. >> knock wrong with living with your parents. >> it depends on the parents, by the way. >> flip it around, it might be better living with the kids as well. yes, okay, interest rates maybe have gone up from the bottom, but nonetheless historically speaking, they're still incredibly lows. >> remember, we were able to have a massive housing bubble with rates at 6%, and before that, rates were 7, nights, double digits. . the bill challenges is we build very little housing that keeps prices high. you hear it 40% of all -- old is

a lot more money, oerchd it makes me think and therefore the demand side will rain on downward pressure. a big part of the story, of course is the first-time homebuyer is a all cash is at a high level. are income games overall the most important variable? if we get those, would that make you more optimistic about housing? >> job gains and income games. >> always good to talk with you. let's continue talking about

mortgages. your next guest put out an interesting piece on theweekcom. downs us is john aziz. you make an interesting point. drivers have to show they're competent to drive on the road, right? why shouldn't someone taking a big financial liability that will be with them potential for many years, why shouldn't they have a simple test as well? >> they couldn't have a simple question on interest rates, inflation. port for him i don't diversification.

if you don't understand it, that means more likely you'll have a bad outcome. when people don't understand, we'll get things like we did before the financial crises. this is -- this is risk being transferred to everyone. >> but john, listen, i read your piece with great interest, and i appreciate you coming on the show, and i get your macro appoint. i get some would suggest -- and i know you're making a bit of a tongue in cheek argument, but some people simply not with the advantage of having a financial education, being the system for all intents and purposes can generally lack that?

>> that's the argument that people make, but the problem with financial education in high school, how many high school chemistry do you remember in if what you're learning in high school is the applicability isn't obvious, then you're just going to forget it. so what would actually be much more to the point is having the education at the point where it's relevant in your life. if you have a lone or credit card and hopefully that preventing a more macro crisis to your point. john, i appreciated the article, tweeted it out last night. john, a pleasure. thanks for coming on the program. >> thanks. the author suggesting

testing a homebuyer's literacy with an exam. three questions, that is it. so throughout the show today, we are going to ask you the view, and see if you would pass. ready? question number one. if you had $100 in a savings account and the interest rate was 2% per year after five years, would you have more than 102, exactly 102, or less than $102. reminder, the answer and the other two questions coming up. stead ahead we're talking taxes, job, and the great larry kudlow will join us live and address a moment i had on msnbc this morning. we're also doubling down on the phone today with two mystery charts. here they are, side by side. can you name these? tweet us. here's your hint. they are the best and the worst performers in their asset class so far this year. the answer, when "street signs" returns.

♪ ♪ (man speaking jananese)

aisle phil lebeau. this is the tarmac area as they await. a number of commercial flights that are stacked up with nowhere to go. the reason why? there is a ground stop in effect at both of the chicago airports midway and o'hare that's been in effect, it looks like for at

least 45 minutes now. the reason why? there was smoke reported late this morning at the chicago terminal radio airport approach control. and that's traacon for short. it will be a while before we see flights return to norm or at least approach returning to normal. we've been told by the airport it will be at least another 45 minutes, so in the meantime for a lot of people who are flying in and out of chicago, no flights going out, no flights coming in. guys, back to you. >> can we just stop saying the republican party as one who grew up in a conservative household, i don't recognize it of even my youth. i don't like what i see. i don't like the far right. i don't like the extremism. they have pushed me away, as somebody who is pretty much not religious, pro-same-sex marriage, pro-legalization of

marijuana for the most part, okay? what party is this? what party am i supposed to be in? when i'm a fiscal conservative who believes that small government can often be better, there are times for larger government. so we keep saying "the republican party" i love you guys, and i come on all the time, but i don't know who the republican party is anymore. i don't know if the republican party knows who the republican party is. >> amen. >> it's not a party i can get on board with, because i don't like the small-minded attitude of a lot of the far right-wing stuff that comes out. >> that was brian on "morning joe" i know all over the word rant is being used. i take sure with it. because rant suggests someone who is crazy, dogged, going off on a tangent. from an outsider's perspective, you made a lot of sense. >> thank. >> and i'm not just plowing smoke up your you know what.

>> i don't normally wade into the world of politics. >> i'm an occasional ranter myself. >> i learned from the best, sir. >> sometimes you got to get it off your chest. i just want to say, i didn't hear all of it, bri, but i do know you. the gop is learning the hard way by losing all these presidential campaigns, all right? they've lost the popular vote over the last four or five campaigns. it must be a big tent. it must have some tolerance, it must reach out, it must not be just the party of elderly white males who might be bigots or might not. look, you're talking to somebody -- i have fought for years uphill, my own magazine "the national review" disagrees with me like something like immigration reform, which used to be -- i heard jeb bush last night here in new york city at the manhattan give a brilliant defense of immigration reform. that's a perfect example of what you're saying. bring the immigrants in, solve

the problem, reach out, health care, health care, republican party has to show they will care for the sick, and the social issues. okay. there are people of good conscience. i'm pro-life, brian. it's a moral and religious thing. regarding gay marriage, i hope that i am as tolerant as anybody, and people who rail against that and obsession against that are nuts. look, the log cabin republicans, i've spoken at their conferences for years, these are the gay republicans who has been to be limit of government and supply-side tax cutters, and i love them. i think you're putting them on alert. i think you did a service today. >> in the frame of the discussion, we were talking about what the gop is doing around benghazi. i didn't necessarily to do it to get into the benghazi issue. i meant that the party itself seems to have lost its way,'s someone who leans conservative, and very pro-immigration reform

as well. that was an extemporaneous speech. >> empassioned speech. >> yes, thank you. when i look at the different social issues, i would be willing as a voter to sacrifice a bad economic apology or maybe one i didn't agree with it if it was better than some big social agenda i cannot get on board with. i know a lot of people who have been faced with the sail decision. that's the point i was trying to make. >> somebody who -- i'm a reagan guy and been in and out of republican politics for whatever, 30, 35 years. i can't help you on every social issue. you're going to have disagreements. the point i'm trying to make is it must be a tolerant big tent, okay? i want to make a point here. you go to the other side, look at the democratic party. under president obama, all right? this has become the party of ultra-big government, entitlements and higher taxes. a pro-life person cannot even

speak at the democratic convention. there used to be a lot of pro-lifers. what i am saying -- >> i wasn't praising that side. i was just saying this country, mandy you speak as an outsider, when you look it from an australian's point of view, we look like we're over here. >> incredibly polarized. i said a conversation with steve liesman, he has a chart that actually shows the fact that maybe more than ever before, the two parties are more polarized than we have ever seen. would you agree with that? in terms of ideology. >> i might. look, i think the democratic party has really swung far to the left. regarding the republican party and what you characterize as a far right. there's a far left and far right in both parties. note, however, carefully in the primaries this year, the so-called gop establishment is winning, and the far right people are losing.

very important point. we saw this in north carolina just a few days ago, we're seeing it in ohio. we're going to see it in kentucky and louisiana. the gop, look, they're getting smarter, but the main agenta, bri. this is key. the main agenda this year is not going to be social issues. i down if it will be the main agenda. the main agenta in 2016 will be the tepid economy and all the people who are unemployed, because we've employed policies that don't work. one of them, by the way, is the failure to fix the corporate tax rate, which i believe personally is the single biggest obstacle to a good recovery. businesses are not investing -- >> look what's haz with pfizer. >> i agree with you 100%. >> i want growth, growth, growth. >> but the gop will say cut corporate taxes. >> however, i would agreed -- if it just guy to dividend they

won't get anywhere. to me -- i know we've got to go, this is how d.c. is operating, if you want to sell a home for $200,000 and i'm interested in rural home and i bid 150, the rational people out there would say 175 and we'll have a deal. the way d.c. seems to be working, you said 200, i say 150, you say 200, i say 150, adinfin tum. also some's got to give something. >> just trust me on this, this is the kudlow forecast. some are right, some are not. i believe you'll get a governor from the gop side who will run for president and will win. all right? which governor, i don't know. i watched jeb bush last night, a former governor, guys like scott walker, john kasich, people like that. now, governors, governors make deals. that's the important thing i i worked for a guy named ronald

reagan, a former governor. he used to always say, i heard this in the oval office in budget -- give me half a loaf now, and i'll get the second half later. he made deals on taxes, he made deals on spending, on social security. nobody wants to make a deal because, frankly -- i'm going to be critical here -- the chap in the white house has proven himself to be more of an ideologue than a ceo, and that's why the deals aren't being made. >> which of those governors thinks most like this fellow here? >> new south wales. >> i think all the names i mentioned. i add chris christie to that, including sam brownback, believe in the big tent. >> brownback. >> he may disagree with you about social issues, but he will welcome you to the table.

i know we've got to go. making deals without gig up your principles, but a little give-and-take like you were talking about, making deals is part of being president, and unfortunately the current occupant never seemed to get that. i hope the next occupant gets that, because deals are the way to get things done. >> compromise is not a dirty word. larry, always a pleasure to have you on the show. >> my pleasure. good work, stay with it. >> good grief. all right. i need a cocktail already. [ laughter ] first condoleezza rice, now christine la guard backing out of the graduation speech. what is really behind -- >> this is so awful. >>i ridiculous. who's going to be left? >> just awful this political correctness. that story is coming up. plus facebook's final frontier, how the company could be one step closer to cracking its tough test nut yet.

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facebook taking aim at its final frontier, the company says it may consider opening a sales office in china. it would be the first time that the social network has had employees in that country, even as facebook does remain -- this week is national small business week. so we are headed to the front line, the u.s. economy to take the pulse of small business owner, robert chafee, co-owner and ceo of progressive computing. we're not bringing in some guy to, like, theoryize. you run 15 employees, how is the state of small business? can you compete in this economy? >> we can certainly compete. it's just that we're shackled by a lot of costs which i feel are unnecessary. health care is i think on everybody's minds, and it's something that we pay over six figures a year for 15 employees,

and i think that it shouldn't be free and we should pay our due, but it's something that needs to be closely looked at. >> i thought it has been. >> no, no, no. politicians seem to have an insatiable appetite for adding things when they get elected. change in my book means subextraction. i think we need to do more about efficiency and reducing our problems. >> if you did not have to provide health care for your employees, how many more could you hire? >> the number is probably around two. i'm not saying i would like to hire two people and get rid of that cost completely, because i feel as a small business owner i should be providing that's correct but the rates are increases double-digit percentages every year. every year we play this three-card monte with our plan, looking for a different plan, only to find ourselves with a lesser valued plan that's increasing by maybe only 10% instead of 20%. >> i find it distressing, robert, you run a computing

company and we're here talking about health care. is this what dominates small business dialogue? core business is sort of a sideshow? i thought this problem was being fixed. >> you're absolutely right. i would love to have focused -- >> has it changed? >> yes, definitely, as we've grown, our issue versus increased. i don't think that the business climate in new york in particular is one in which costs are coming down. it's only getting harder and harder. your previous guest was talking about housing costs. last night you were talking about the net loss of employment -- i'm sorry -- of population in new jersey and everybody moving to florida. we should take a look around and see what's happening in other states. >> there's a disconnect, the unemployment rate, that's still high, yet we talk to small businesses that sometimes they can't find some of small skilled workers. >> it's a little difficult. the last three hires did not have a technical background.

our company is built on relationships and it's our passion, so we look for a lot of soft skills, people skills, but i want to say that i'm not doing that on purpose. i would like to have people who have the right technical skills, it's just that's become secretary. i can teach something how to program a firewall. i can't teach someone how to be nice or kind. >> nor can you teach someone to stay in new jersey. by the way, robert, thank you. this highlights, a great tax migration map. blue means you're getting people. red or purple means you're bleeding people. seems proper. i recently read, mandy, i think it was 60 or 65% of people in connecticut and illinois said they would leave their state if they could. >> that's incredible. >> think about that. >> sad. >> it's sad. these states, hi taxes, bad

roots, congested, expensive to do business in, they're bleeding people. at some point they'll have to learn. when that point is, i have no idea. >> we're in for the long haul, so hopefully we'll be able to overcome those challenges despite the obstacle. >> best of luck, thank you very much for sharing your story. question number two, imagine that the interest rates on your savings account is 1% per year, inflation is 2% per year, so after one year, would you be able to bay more, b, exactly the same, or c less. we'll reveal the answer later on in our show. one burger joint getting much-needed love. >> and why adopt we bring up the mystery charts. the second hint, brian, they both start with c-o. the answer when "street signs" returns. i make a lot of purchases for my business.

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needed. shareholders of ubs lifting target frto 120. they sees significant games on comp improvement, which is a fancy way sales should improve. >> next up is nay bores, but one firm, bernstein cutting it to a market reform. their target is 25, so clearly the analyst there scott gruber sees no, by the way. nabors the best performing stock over the past 12 months that has not been bought, you know when there's a premium it jacks it up artificial artificially. the parents of brands like lee, north face, you name it. >> i don't have the note. but the headline is the target increase from 65. it's about 15% higher than vfc is right now.

the average tart, so isi more bullish than most. illinois tool getting an upgrade, and jpmorgan. >> the firm notes the company leverage, right, a fancy way of saying they're global, to date their targets goes to 86, but here's the thing. the stock is already at 86.96, so this is one of those thanks for nothing upgrade. why do that? >> can you clearly see the market is unimpressed. >> don't get that. at&t reportedly in talks with directv for $50 billion. what does at&t want. with that story, hay, morgan. >> hey, mandy. for starters, at&t would get a combined $27 million subscribers for pay tv. right now its u-verse product has only 5 million. to better compete against the 30

million subscribers that cnbc's parent company comcast would claim if it is deal with time warner gets approved. now, that deal is up after the next season, but the two are reportedly in talks to renew, and likely with streaming rights. that, those streaming rights ties back into the driving force of this entire deal, and actually all of the consolidation we're see throughout the terrorist potential in generathe -- this back into the debate we have been seeing heat up around open internet or the so-called net neutrality. as we see, the consolidation happening in this arena, in the communications industry, be it comcast or potential at&t, while it allows them to compete

better, you're taking less competitors off the table which could affect pricing. the other thing to keep in mind is that these guys are also getting into content, so this is stoking the larger debate we're seeing about net neutrality. >> morgan brennan near directv. thank you very much. speaking of at&t, should you own the single t? that's the kicker. chad, if at&t buys directv, does that change your view on the stock at all? >> no, actually it doesn't. it's an over-leveraged company, we believe. the valuation right now is around 13 times forward-looking multiple on at&t on a proformal basis, if they do combine directv, they're looking at roughly a company that we believe is probably about 5% to 10% over-valued, a total revenue of a proformal basis of the company, about $165 billion total overall market cap with

directv, about 235, but they have about 95 million of combined debt, if you put that on the balance sheet. so we believe this is an overleveraged story. we're value managers, but we just shy away from companies that have a lot of debt. if you include the debt with the p.e. multiple, you get about an 18 1/2 times total enterprise value to net earnings. not a great number. >> not a great number, no. rich, what about you? does the technical side back up what chad is saying? >> it does, mandy. when you bring up those charts, useal why at&t is a stock and chart i would not chase here. the first chart we're going to look at is the one year. you can see after a disappoints 2013, the stock does establish a very nice bullish double bottom, but you can see, after taking out the 200-day moving around. we've run out of resistance, that left us uniquely vulnera e

vulnerable, and when we zoom out and look longer term, the story only gets worse. we've been in somewhat of an up trek, but so has everybody else. you hay to see that double top. but keep in mind, mandy, this stock has now made lower highs going back to the tech bubble back in 2000, the financial bubble in 2007, and once again with that double top here at the qe bubble, this is a stock who's longer term trend is down, despite the fact we have this short-term bounce. i would be a seller and would not own the name. >> thank you very much. you can check out the online edition in partnership with yahoo finance on cnbc.com. now is your last chance to tweet your answers on today's side by said mystery charts. it's a tale of two commodities. >> plus we're looking into the future. what would the defense industry look like in 25 years. but first let's get to bill and kelly for a preview of the

"closing bell." >> i would say egypt. wait, that was yesterday. >> one day behind itches that's just mean. >> a story of my life. >> coca-cola is increasing its stake in green mountain. should you follow coke's lead and buy the stock? it's doubled this year already. is it too late or still time to buy? we have a stock brawl on green mountain coming up. >> many people thing warren buffett could be ready to scoop it up. two buffett watchers tell us whether this deal would make sense. >> and we'll hear from somebody who says popular retirement funds known as target date maturity funds could actually send your returns off the mark. we'll like at that coming up. >> i can already hear my father getting upset about this discussion. cupping up, we'll see you at the top of the hour. tdd#: 1-800-345-2550 there are trading opportunities tdd#: 1-800-345-2550 just waiting to be found. tdd#: 1-800-345-2550 at schwab, we're here to help

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trading a bit lower on the news, down just about 41 cents. back to you. >> thank you, mary. now for the moment you have all been waiting for. the big mystery chart revealed today. it's a twofer. the best and worst commodities so far, mandy, it's your clue. >> okay. well, coffee, brian, by the way if you had real money, you would be a rich man. coffee is the best one year to date. the worst is poor dr. copper, of course very much tied to what's happening in china, down about 8% so far this year. >> i'm ten months into my bet with herb greenberg. >> you had to rub it in, poor old herb. >> we're not allowed to invest in this stuff. if i had invested in the nikkei and coffee, you know what i mean? i could afford pants. >> and you wouldn't have to sit here and work with me. >> where would i be? at a coffee farm? >> why not? >> you could visit. drink coffee all day, be in the sun, who wouldn't like that.

anyway we're celebrating the 25th anniversary by looking forward and what other industries may look like a quarter century from now, like defense. think "star wars." jane wells is joining us from a big show, for the unmanned aircraft. what have you found? >> reporter: well, mandy, we're at the aurora booth where they have graciously let us move in today. we had a rare interview with frank kendall, the man at the pentagon who writes the checks. he'sle very concerned with what happens happening thousands of miles above them. >> space is becoming a much more contested environment. >> reporter: frank kendall first worked for the "star wars" program, the strategic defense initiative. >> it will take years. >> 5, 4, 3, 2 -- >> reporter: in 25 years such a system may be necessary not just to protect everything we have on the ground, but in space. >> zero, we have liftoff of the

united launch alliance. >> there is from the intelligence i've seen, an attempt by some countries to build systems that would allow them to dominate in space, to take out our assets, which are very vulnerable. our assets are in predictable orb bits, what would we do about that? one is to go what we call disaggregated architectures where we take these satellites and break up their function into a number. it makes it harder to attack all of them. another idea that's been talked about is having reserve capabilities that can be launched very quickly in case there's an attack so you can reconstitute. >> that's expensive. >> it's all expensive. any of those is expensive. in fact, in general there's a tendency that's been recognized over the years for us to buy expensive things in small numbers. i think as the balance shifts between our ability to defend things and other people's ability to attack them, we may have to go to another paradigm.

>> so perhaps we shift to guys less expensive things that are more expendable? >> that's one possibility. our system naturally is inclined in the opposite direction from that, because people want to add more capability to things as opposed to take it off. >> boy, big changes ahead, big decisions to make. kendall has a master's degree from cal tech. more on the interview with him on cnbc.com, and later on "closing bell", in the future less man, more machine. guys, back to you. >> thank you very much, jane. the cool trend on college campuses protesting the commencement speaker. high-profile people being chased away. and speaking of schools and tests, time for the financial question, part of our three-part -- true or false, buys a single stock usually provides a safer return that this a stock mutual fund.

true or false. all three answers to our questions coming up on the other side of this break. honestly, the off-season isn't really off for me. i've got a lot to do. that's why i got my surface. it's great for watching game film and drawing up plays. it's got onenote, so i can stay on top of my to-do list, which has been absolutely absurd since the big game. with skype, it's just really easy to stay in touch with the kids i work with. alright, russell you are good to go! alright, fellas. alright, russ. back to work! thcar loan didn't start here. it started with that overdue bill he never got. checking his experian credit report and score

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time for the big reveal. answers to the financial literary quiz. hope you got them right. suppose you had $100 in a savings account and interest rate was 2% per year. after five years how much do you think you would have in the account, a, more than 102, exactly 102 or, c, less than 102? the answer was -- >> a. >> very clever, are you smart, brian. >> question two. imagine the interest rate on your savings account is 1%, got to imagine it these days and inflation is 2% a year, after one year would you be able to buy more, exactly the same or less? the answer, of course, less. inflation eats your money. >> and final question, true or false. buying a single company stock usually provides a safer return than a stock mutual fund. larry? the answer is -- >> no. >> false. >> and -- >> am i right? >> yes. >> good. >> you know what's amazing, these questions our viewers, the answer is so easy. 70% of americans didn't answer those questions correctly.

>> at 2% inflation for 25 years, $50,000 shrinks to $30,000, that's why i object to the fed. >> all right. here you go. >> larry kudlow. you're here -- why is this whole thing with protesting christine le guard now out. sarah eisen. >> oh, she's here. >> yeah, sarah, i was going to go to larry, but go ahead. >> you can go to larry, too. >> let me fill you in on what's been happening in the last 48 hours because this is a big deal and it sparked a whole debate about commencement speeches. the head of the international monetary fund, christine le guard, backing out of the commencement speech at smith college after an online petition signed by 500 faculty, alumni and students protested having her. i want to read you the quote because it was really against the international monetary fund. has been a primary culprit, according to the online petition, in the failed development policies implemented in some of the world's poorest countries that has led directly to the strengthening of

imperialist and patriarchal systems that oppress and abuse women worldwide. so clearly not just with her, but it is interesting given the fact that she's the first female head of the international monetary fund, the first foe mail g-8 finance minister and first female the head of an international law firm. it sparks a debate about the imf and also, guys about, this whole idea about activism and democracy. we're seeing more and more of it. >> certainly are. got some very strong views. >> tolerance, tolerance, tolerance. how ironic, by the way, ms. le guard, a woman, first woman head of the imf being denied -- smith college used to be one of the finest women's colleges in america. i also want to take -- condi rice, not going to rutgers, condoleezza rice whether you're a democrat or a republican is one of the great american success stories from nowhere in alabama to huge positions, provost of stanford, national security adviser, secretary of

state, that is disgusting. you know who i blame? i blame the presidents of these colleges for their -- >> students of rutgers should protest against their own administration. you know how many missteps rutgers has made in the last 12 months. >> these presidents should come out and say we stand for academic freedom. we stand for freedom of speech and we will not be bullied bay small minority of students. >> here, here. >> i blame the presidents who have no backbone. >> thank you, larry. >> after the break, where in the world is famed deejay casey casem? he's missing. it's a serious and sad story next. we're moving our company to new york state. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies

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radio legend casey casem is missing. cnbc's world expert robert frank has been following this story, it's a serious and sad story. >> a guy whose voice was everywhere and he owes disappeared. the 82-year-old famous, of course, for his top 40 countdown, gone mission after a judge named his daughter carrie as his temporary conservator. carrie and her four siblings have said they have been denied access to their father by caisse 'em's husband jeanne. he's been worth an estimated $80 million in, poor health. we don't know how poor because the kids haven't had access to miss medical records.

he's suffering from advanced parkinson's disease. he has so many fans around the world and we hope they find him and hope he's getting care. >> good luck. fashion show benefiting the humane society. >> yes, absolutely. >> walking down the caught walk with a little cat walk. dogs are hitting the caught walk. see the irony. >> try to stop in. >> good luck tonight. >> thank you very much, and thank you, robert. thanks for watching "street signs" as well. welcome to the "closing bell." i'm kelly evans here at the stock exchange where today any close higher for the dow or s&p 500 will mark an all-time high. i think as we stand here, this is an all-time intraday high. >> so far so good, and we're watching those markets and these stories as well. i mean, the stock market may be going strong, but what about houseing? that's what a lot of people are asking. our own ron