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tv   MONEY With Melissa Francis  FOX Business  October 25, 2012 5:00pm-6:00pm EDT

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melissa: i'm melissa francis and here's what's "money" tonight of the israel reportedly blows up a suspected iranian weapons plant in sudan as iran moves closer to the nuclear red line of the has the situation reached its boiling point. are the great lakes at risk of a massive oil spill? is new report is sounding the alarm. the author joins us to explain. tom cruise switching the financial guns. the megastar hits "life and style" magazine with a 50 dal million lawsuit over accusations he abandoned his daughter suri. does he have a case? even when they say it's not it is always about money.
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melissa: first let's take a look at the day's market headlines. apple reporting fiscal fourth quarter earnings a short time ago. the company disappointing investors for the third straight quarter. missing on the bottom line while coming in line on revenue. its shares currently unchanged after-hours. more on that in a few moments. also a slate of mixed earnings and economic data sent stocks seesawing through the session. the dow crossed between positive and negative territory 46 times before closing up just 26 points. tough day. shares of best buy tanked more than 10%. warned upcoming quarterly earnings will be significantly below the same period last year. best buy took investors by surprise by ousting two high level executives. a look at the stock getting crushed. our top story tonight. reports are that israel may
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have bombed a iranian weapons facility in sudan.% no confirmation from the israelis. some experts speculate this could be a dry run on attack in iran itself. will iran's nuclear program be stopped before they have the capacity to attack and are sanctions enough? joining me for more is fox news security analyst, kt mcfarland. thanks so much for joining us. let's talk about this attack in sudan first. what do you make of that? >> it probably was the israelis but they will never admit it. sudan will launch a complaint to the united nations saying israelis attacked their plant. more significance this week is a military exercise going on between the united states and israel trying to show to iran and anybody else that the united states and israel have the ability to do military maneuvers together. the whole thing about this israel and iran are already at war. they have been in a covert war for years. attacks against iranian scientists, assassination attempts.
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the iranians sent in assassination squad to washington to try to kill the israeli ambassador in washington the israelis september assassination squads all over the world. we have the cyber war. iranians attacking u.s. banking system and israelis presumably attacked the nuclear weapons program. melissa: the reason they think it is a israel testing the distance to see if they can do that kind of strike on iran. what do you think about that? >> i think is really good -- israeli haves a couple big problems with any kind of attack against iran. first it is a long ways away. it is 1,000 miles away. israel doesn't have the ability to get there to drop bombs and come back. they have to have a aerial aerial refueling. it is new technology but they can't do a lot of it. second thing there are a lot of different sights. not just one place they have to drop bombs. they may have to go to 30 different sites. any kind of attack against iran it is not just over at
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that point. iranians retaliate. that is presumably when the united states would get drawn in. melissa: we're always focused on the money angle here because of course that is the name of the show and any destabilization in the middle east is bad for the world economy. it is bad for the oil supply. we look towards the sanctions which involve oil to see if they're working. you say that there is, sort of a boiling point data. what did you call it? >> called the cripple date. melissa: cripple date. >> iran still has 50 billion in reserves to buy food and import food and other things they have to import including gasoline. they don't refine their oil into gasoline. melissa: great point. >> so they have 50 billion they can spend. that gives them a lot of room. even though their oil revenues are down, even though their currency is heavily inflated they still have maybe six months, a year they could survive on that before they start running out of food. now the other clock though that is ticking is, how long do they have before they are really a nuclear power? they need three things for a nuke.
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they need a missile to deliver it, they need enriched-uranium and need the trigger mechanism. we've seen the missile tests. we've already seen those. we've seen the enriched-uranium, that is what we're seeing now. the trigger mechanism, they could do that in small factory. we'll never see that coming. that's why people are focused on enriched-uranium. melissa: do you think that there is somebody in the washington with two clocks on watt? >> i hope so. melissa: clock ticks down until they don't have financial reserves to sustain themselves under these sanctions and this is the amount of time they have until nuclear capability. how accurate do you think those two clocks are? >> you don't want to make a mistake so you want to err on the side of caution. that is why bebe netanyahu went to the united nations two months ago and had a big picture of a bomb. here is the red line. we can't let iran enrich uranium past that appointment. we think they will get to the point next summer. united states may be up
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until january of 2014. so the giving another six months. if you want to stop either bombing iran or letting iran get the bomb to unbelievably horrible choices with horrible economic consequences as well as everything else there is a third option. that is the sanctions. we have had sanctions and have ever been but they're not enough. some people say what you need to do, what romney said for example, tighten those sanctions, don't give as many waivers to other countries. really isolate iran economically to the point that the iranians go back out iito the streets and demand regime change just like tunisians and moroccans. melissa: we've seen them in the street but is it not enough? >> we seen them in the street, recently but 2009 there were millions. we didn't pay attention. that was a big mistake. that is why they want to get them back into the streets. melissa: kt, always fantastic, thank you for breaking that down for us. moving onto a potential here in the u.s., a possible oil
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spill in the great lakes in the northern michigan. i was shocked about this. great lakes supply drinking water to 30 million people. we knew that and they have a $7 billion fishing industry. there is pipeline running underneath that carries oil from canada through the narrow straits of the mackinaw. a report says increasing capacity of the pipeline could turn the scene into something more like this. yeah, an oil spill that could rival the bp gulf spill. joining me for fox business exclusive interview, beth wallace, from the national wild five foundation who authored this report. beth, i was surprised to see the report. i didn't realize there was this danger of a spill. i haven't heard a lot about it. is there legitimate concern? >> oh, definitely. about two years ago i'm from a community that was impacted by a number of spills in the kalamazoo river when they dumped a million gallons. that was the largest and most costly inland oil spill in history. this is wake-up call for the
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national wildlife federation. it got us looking at other pipelines in the region saying where else is this possibility and we saw line 5. we realized it is 60 years old. it is being slated for expansion, despite the fact that embridge is not improving safety anymore than it has. this report outlines recommendations and one of those is not to allow the expansion to go through. melissa: one thing enbridge has said in the past and other in the area says there is greater demand for capacity in the pipeline but they have been upgrading the pumping station so that solves the problem. do you buy that answer? >> so what happens is they upgrade the pumping stations along the route of the pipeline in order to push more power to the pipe, and push more product. this gives them the opportunity to get more, more oil to the refineries and, you know, this pipeline in particular we do not feel like needs to be with that
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expansion plan and we feel like instead there needs to be focused on their emergency response plans. they perhaps to need look at replacing this pipeline since it is 60 years old and it travels one of the most sensitive places in the world. and you know, back to the emergency response plan. it took them 17 hours to report the spill in the kalamazoo river. they say it will take them eight minutes to discover a spill at the straits of mackinaw. we're not convinced of that. another three hours to even respond to a spill at the straits of mackinaw, their nearest emergency response censor three hours away. that is not good enough and not a reason, it is a reason not to allow them to expand this pipeline. melissa: another thing people disagree with you say all the time there is constant inspections. they're always out there inspecting so it is not likely something would happen and they wouldn't know what is going on. >> sure. well, you know another example, kala ma zoo -- kalamazoo river hat a crack
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in it and this crack are up tured for five years before the rupture occurred and enbridge knew about it their assessment was not up to par. didn't meet certain standards. how can we trust the fact that their assessment of pipelines are accurate? we tried to get this information from the pipeline safety administration and from enbridge and they won't provide it. it is considered national security risk. so we have in idea. we have to take their word for it. their history in the region has shown us that perhaps we shouldn't be taking their word for it and we should be asking for more scrutiny. >> what is the bottom line what you would like enbridge to do? we need the oil from canada. >> full replacement. melissa: go ahead. >> this is another canadian company that is pushing products through the united states. we would love for them to replace this pipeline in its entirety. we would also love for the pipeline safety administration to say, no you're not allowed to expand the pipeline given the
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sensitivity of the location of the as you mention, 30 million people rely on the great lakes for freshwater drinking source. 1.5 million people rely on the freight lakes for a job. one spill similar to what happened with bp or kalamazoo river could destroy all of that. congress invested billions of dollars to restore the great lakes. it only makes sense we demand this company have utmost respeet and consider a full replacement of this line. melissa: beth wallace, thanks for coming on the show. >> thank you. melissa: so time now for today's fuel gauge report where we break down the biggest headlines affecting the energy industry and their impact on the economy. oil prices broke a five session losing streak. mixes u.s. economic data swayed prices back and forth between positive and negative territory and crude eventually settled up 32 cents at 86.05 a barrel. meanwhile gasoline futures snap ad 10-day losing streak. the gains fueled bb fears hurricane sandy will strike
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the east coast and shut down refineries. louisiana pushing for a jury trial in the one billion dollar lawsuit against bp. the state claims bp stoppedd3 paying it for economic losses due to the 2010 gulf oil spill. china's oil demand hitting a record high. new analysis from platt's says china consumed 9.8 billion barrels of crude in september. that is 9.1% increase from the same period last year. that is good. that means their economy is working. we need that. apple's shares getting squeezed after-hours. the company disappoints on earnings for the third straight quarter. has it become a victim of its own success? plus you're welcome america. california dewatching its jobless claims numbers. we have details how it pulled off the huge screw-up, coming up. ♪ .
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♪ . melissa: so as i mentioned apple just releasing disappointing fiscal fourth quarter earnings and its conference call is currently underway but we took adam shapiro off the call to tell us what is going on.
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adam, what is the latest? >> the big headline a lot of people are talking about, melissa, the 14 million ipads they sold in the fourth quarter. third quarter they sold 17 million. this was a miss. we heard tim cook say somewhere around 15 million when talking about the ipad mini. this was much lower, far fewer ipads sold than the street expected. it makes you ask what is going on? because ipads account for roughly 25% i think was the figure of revenue at apple. i phones account for over, what 40, 45% of revenue. combined it is 7075% of their income. so the problem here is one, you've to the competition from kindle over at amazon. competition from google's nexus 7, 199 bucks for those two devices at the entry level. you have competition from samsung with their galaxy tablets. we see apple surprisingly on tuesday relaunch an upgraded ipad. we got ipad 4, not the mini but ipad 4 with the retina
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display only six months after the ipad 3, a little bit early, right? maybe apple is worried that some of these competitors are nipping at their heels with such a strong revenue answer from the ipad. melissa: have they gotten revenue answers on the call? >> not yet. melissa: that is always important. what do you think? >> their gross margin is falling. are the problems at foxconn with suppliers creating difficulties in maintaining -- this is behemoth of a companyywhen it comes to generating cash. it is a slight fall, 40.3 to 40% but it is falling. not where you like it to going. melissa: we see the stock press ticking lower. it went below 600 bucks while you were talking. we'll keep an eye on that. apple thanks. >> see ya. melissa: we reported last week california's jobs numbers were not right and the state demanded we retract it. guess what? today california reported
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close to 72,000 first time jobless claims for the week ending october 13th that is shocking 60% increase from the week before, 60%! turns out we were right. we don't want to gloat because we're not like that. we'll ask a constructive question instead. how did this happen. >> we have christian dorsey the director of external government affairs with the economic policy institute. thanks for coming on the show. christian, you're laughingg3 already. >> not laughing, just smiling. melissa: all right. what do you think happened, christian? >> well i think part of it is certainly something that happens typically this time when you have a change in quarter in the states. not to get too technical but basically whenever you move into a new quarter it becomes more advantage table just for -- advantageous for people to file in a certain date when benefits tick up higher. for california that date was october 7th for the new quarter. in other states typically
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the week beeore, a fairly large increases in jobless claims in california. they came a week later. for me i don't look at the week to week noise in the unemployment claims. i look at the four-week rolling average which really tells you the true picture. melissa: paul, those are good points but seem very convenient to me. i don't know, what do you think? >> well, i tell you what i don't think it is ever a good thing when you shift the blame from a government entity actually onto the people themselves. so while there is a lot of talk about people gaming the system here, i think the most important thing is focus on the state of california and what responsibilities they have in support of the department of labor getting this data reporting accurately and i think it's a fair shot even though they asked for retraction from you the state of california is not completely clean on this one. that is exactly what set off a ripple over the past two or three weeks. melissa: yeah, the bottom line, california's september unemployment rate was the third highest in the country at 10.2%. when this number came out and we were questioning it,
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there were folks out there saying maybe california is just, you know, all of sudden doing better? technology boom going on and you know you're doubting their recovery. now seems like maybe we were right to doubt. christian, what do you think is the problem in california right now that their unemployment rate is so high? i'm not picking on their staffs any longer. i think we won that argument. we can sort of set that aside. what is going on in very serious employment picture and they are out of work and want to be back to work? >> california is slightly above the curve nationally but their problems refrequent what we're seeing nationally not enough significant improvement in the macro economy in order to stimulate robust hiring. if you take away the specifics of california's numbers, if you look at the overall, melissa, what we have are the conditions for really modest improvement in hiring and that's what's contributing to the overall economic malaise that we see
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with numbers that are here and there indicating recovery or stagnation. you know we're over all just kind of treading water at this point. melissa: yeah. paul, at this rate it will take us better than nine years to get back to the level we were, the low during the last administration. i understand it is all about the economy. there are some factors out there. what do you think would turn all this around? >> well, i mean we're very interested in surveying people and asking them what they think and i think there's a growing consensus what needs to be done the value of the entrepreneur and business creator and courage of those with resources to create jobs should be elevated and not denigrated. what that means creating environment through tax cuts and deregulation that allows people to invest in business and get all the capital on the sidelines off the sidelines. you have think things like the president's health care undecided, "taxmageddon" is undecided. that environment needs to be settled out to give business some certainty with hiring.
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>> christian, what do you think of that. >> at least a year ago the things were settled in near term and we haven't seen associated gains in hiring. if we continue the same policies that we've been pursuing that we're all of sudden going to get different result. >> i agree with you there. >> melissa, what we ought to do is do what we haven't done since 2009, melissa, that is get serious about multiyear infrastructure. proven to have extremely huge returns to the economy and it certainly much more productive any economist will tell you, than pursuing tax cut policy with is far more over the last decade. melissa: i don't think any economist will tell you. milton friedman will rise out of the grave. marty feldstein will tell you that is not the case. everybody from the hoover institute will tell you that is not the case. paul, what is the answer? infrastructure and get shovel-ready jobs goingg >> at end of the day if you ask people to what is appealing to get capital off the sidelines and get back into your business streams and create jobs, people will
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not jump for joy for five-year bridge building plan. let's get sear us. people need to use their money to create jobs they need to meet demand they have. it is not going back to old policies. it is getting forward and need to get out of the old policies and get constructive things especially for young americans which have the highest level of unemployment since world war ii. melissa: jent mane, thank you for coming on. appreciate both sides. >> thank you. melissa: mitt romney and president obama are courting small biz leaders in their final campaign push. a new survey unveils exactly what they want. we've got the details. plus hell hath no fury like a tom cruise scourned. he sue as tabloid for $50 million. i like this, over claims he abandoned his daughter. does he have a case? at the end of the day it is all about money for tom cruise obviously.
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can ♪
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chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could ve. so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not loo. obviously verizon. okay, i have a different chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage th all other networks combined.
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♪ . melissa: taxes are a huge issue as the election inches closer but actually it is not the top concern for business owners. in a new survey small business ceos lay out their top three problems and they are health care at 62%, the economy at 61% and access to capital, 46%. we have the ceo of the sbtv dot-com and a small business expert. ways really shocked to see that health care is bigger concern than the economy. >> yes it really is. actually, melissa for about the last 20 years health care has been creeping up as a concern for small business and what we've seen small businesses health care has risen in cost they have had to either cut their health care for their employees, or, they have cut back on what the coverage can be. a lot of them opted for health savings accounts.
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melissa: right. >> they are paralyzed with fear about obamacare, particularly when they look at the fact no one can explain how this will get paid for. secondly they also recognize that costs are going to really skyrocket. and what is happening, for those employees who have under 50 employees right now, which is where you're mandated to provide health care coverage, they're saying you know what? i will not cross over the 50 employee threshold. it is too expensive and disincentive for growth. i talked to many small businesses who say i have over 50 employees but i'm reducing workforce or cutting them back to part time. in this economy it is ludicrous and it will be a huge concern and that obamacare most employers say needs to be repealed. melissa: second one i was not surprised, the economy. that is one i think small business owners are worried about. >> small business at mism
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has -- optimism has plummeted again. more small businesses say they will not start to hir and more small businesses starting to layoff. a sorry state for this economy. what they're saying, congress, mr. president, you've got to get the federal deficit in check. melissa: the deficit? small businesses are focused on the deficit more than taxes, more than other things that might drive the economy. they really see the trickle down from the deficit? how do they connect those dots? >> you can only keep spending money you don't have for so long. the reality being in business you can't spend money you don't have and have no way to repay. they also see how it is affecting consumer confidence. what they see is, consumer confidence isn't coming back. people aren't spending money like they should in order to really grow your small business. and not only do they fear more of a recession, they even fear going into a depression. melissa: access to capital of course is the other one, 46% said they were concerned about that or that was very significant headwind. president obama created the
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$30 billion small business lending fund. but not a lot of that money made it back out. when i talk to regional banks, small banks, community banks, they say, the standards are just a lot higher now for lending because, we've been burned and also is with are reluctant to borrow. >> that is absolutely true. that $30 billion fund, what a joke. so little of it got out to small bbsinesses. we also saw hundreds of community banks go out of business. melissa: yeah. >> because they didn't have a bailout. they weren't too big to fail. what we do know is, yes, indeed, underwriting standards should be strong. that should, but balance sheets for small businesses aren't strong at this point. they have been struggling. this is a forgotten market segment in this could not my right now. despite the rhetoric. melissa: what is solution? not to give money away to businesses that will fail. at the same time they need money to bankroll the operations. i don't know what the
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solution is? >> solution is get the economy going again. small businesses awe said. melissa: i walked into that one. >> no, seriously it is not, it is funny but it is not. small businesses until they see that recovery, they're not going to go borrow. most of the bankers i speak with said loan applications are down. so, you know, if you're not, if the small businesses aren't going out to get loans, obviously banks can't lend to them. but nonetheless, still they aren't strong enough to get the loans. we need the economy going. we need a pro-growth agenda. we need free enterprise. we need the economy that will allow the american dream to be alive and well. melissa: susan. thanks very much. coming up on "money", forget the need for speed. tom cruise has the need for $50 million from a tabloid nonetheless. we'll tell you all the juicy details. i think i'm on his side by the way. plus, run, duck and hide. what happens when you combine a hurricane with a snowstorm? we have the latest on what forecasters are calling a
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weather event without modern precedent. i'm terrified. i don't know about you. "piles of money" coming up. ♪ . de and ♪
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♪ you can help others along the way. ♪ ♪ a portion of every bottle that they sell goes to fight ♪ ♪ breast cancer and i think that's swell. ♪ ♪ the more you take, the more they'll pay, ♪ ♪ so make them write a big check today. ♪ and if you're feeling a little slow, ♪ ♪ then 5-hour energy will help you go. ♪ ♪ so buy a bottle of pink lemonade and ♪ ♪ you can help fight breast cancer day. ♪
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♪ . melissa: even his new "mission impossible", actor tom cruise suing tabloids "life and style" and in touch for 50 million dollars of punitive damages that he abandoned his daughter suri. 50 million bucks? here to break it down, criminal defense attorney, joey jackson. thanks for coming back on the show. >> a pleasure. melissa: $50 million where you do you come up with that? >> any number, the more the number. he has a claim not nearly for 50 million but he has a claim. here's why. defamation does, it is a
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lawsuit that protects reputation so therefore people publish false statements about you and injure your reputation you can sue. now, because he's a public figure it is a little different. a private figure, you don't have to show much but if you're a public figure you have to show what is called actual malice. here is how he does it. actual malice means two things. it means knowledge that the story was false and you publish it anyway, or, you recklessly disregard the truth. and it appears they did that. melissa: what a difference between those two things? >> one you know it is false and print it anyway. other one, it may be false but you didn't adequately check it although you could have. you know these legal distinctions. don't hold me responsible. melissa: i don't know. i didn't go to law school. >> but if any event what ends up happening here he is pursuing this case against them. and as a result of him and his epares getting the advanced story, they had it and wait, i didn't abandon her. i was shooting a movie. i was in another country and
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as a result i was speaking with her regularly. i may not have been physically there but i love my daughter and love her. they said we're printing story anyway. it appears they had information to its falsity. but guess what, melissa? they published it any way. no good. melissa: do you think he will get the 50 million. >> not at all. >> first thing you have to show damages to reputation. you have to show some material damage. >> how would you do that? >> in some instances --. melissa: is a really good guy? come on. >> he would have to show, melissa, lost some type of role, lost some kind of business opportunity, his reputation was impaired as a result of story. right, he can't show that. so the damages will be minimal but the punitive damages as a result of the malicious nature of the publication, that could run a couple of dollars. melissa: see i don't know why people buy these magazines. all the time you see the headlines outrageous and clearly false. they will say someone pregnant. year goes by there is no
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baby. people off to secret wedding. lo and behold next week comes around they're not married. it never happened. why -- >> so true. melissa: sells magazines? >> that's what happens. sort of the attraction to it. you see the headline because of the spicy headline you have got to go read it right? you read it and do what you said, with your business mind, a cost benefit analysis. does it cost us more to pay a lawsuit or print these fix tick sure tales about people? melissa: so the settlement with tom cruise has to be big enough so punishes them for selling magazines. did they sell $50 million worth of magazines based on this? no way. >> they won't get anywhere near that. he is showing he is upset so donating monny out there to, charities. you charities get ready. won't be 50 million. a couple million. it will be settled and settlement will be sealed so we may never know. melissa: he comes out looking like a good guy. he gave gives away money. doing what is right. don't go after my daughter
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ever again. she is beautiful and i didn't abandon her at all. melissa: thanks for clearing all that up. here is the question of the day do you think $50 million is a reasonable amount to sue for if you're a victim of liable? we want to hear what you think. facebook.come/melissafrancisfox or follow me on twitter at melissaafrancis. they're calling it "frankenstorm". a super storm lining up to land on the east coast. forecaster says it is without precedent in potential impact coming up next. ever have too much money or too many food supplies. ♪
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♪ . melissa: that's it. that is what is coming our way. no, not the day after tomorrow, but a nor'easter may be. that is a nor'easter-cane when you get a hurricane crossed with a snowstorm. the east coast is bracing
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for hurricane sandy which could collide for inland snowstorm just in time for halloween. perfect. here with the latest is fox's own rick reichmuth. how is this developing? we're all terrified. >> who developed the nor'easter-cain. better that the "frankenstorm". this is big storm, a serious storm. this is a hurricane. we have a hurricane out there. it's hurricane sandy. category 2 storm. in the short term meaning tonight and all day tomorrow we're talking about tropical storm conditions in florida. three to five inches of rain and a lot of beach erosion and wind that is a florida event to start. then things begin to change. melissa: then what happens? this is normal. used to seeing hurricanes come to florida. i live in new york. there you go. >> yeah. melissa: but is it will collide with this other massive storms. >> tropical storms and hurricanes have, all strongest of the winds are at the center of the tomorrow. this will be in the
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transition to more of a nor'easter type storm but it will kind of combine the energy from the hurricane with this other storm that is approaching from the west, which is a very vigorous cold storm for this time of year and we'll have a very significant storm across areas of the northeast across big population zones. melissa: where is this thing colliding? on your map it looks like it will be colliding in new york. >> it will be very close to new york. think of all the people who live in between washington, d.c. and boston. that is such a populated area. this map, is one of the models. melissa: you like that? i think it is horrible. >> it is horrible. meet logically very interesting from my perspective. when you see the rings tightly together that means really strong winds. so the winds won't be as strong in the center of the storm. it will be a very, very large storms with winds 60 to 80 miles an hour for a lot of people for maybe 24 to 36 hours. melissa: so a lot of people today have been scaring the hell out of all of us comparing it to the perfect
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storm of 1991. when i said that to you in the commercial break you said it is worse than that. >> i didn't say exactly like that. but not all that off. the% tech storm was an amazing storm that happened in 1991 on halloween by the way. exactly the same time of year. it was farther to the north. it impacted areas of maine and northern parts of massachusetts. not nearly as much population there. and that storm in very geeky meet or logical terms had a central pressure of 942 millibars. that is very strong storm. the forecast models are saying 942 millibars. we're talking about a much stronger storm than the perfect storm. this one looks like in population target bull's eye of our country, not where there is as little population. melissa: now i'm terrified. should i hide in the basement on tuesday? is this a billion dollar event, more than that? >> hurricane irene was a $4.3 billion storm. the perfect storm from 1991
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was a $200 million storm. this one, very likely will be a billion dollar storm because of all of the area, so much population. think about all the beaches you love to go to, the jersey shore. all those beaches on long island. these beaches in many cases will be destroyed. a lot of homes will be significantly damaged. this is going to be a very major storm. we talk about this so significantly now. so people can take all the preparations to, protect for any kind of loss of life but also their property. make all the arrangements now that you can do, so we get through this as much of an orderly fashion as i can. melissa: i'm terrified. the whole studio is sitting here with their mouths wide open. thank you for coming on the show. >> my pleasure. melissa: next on "money", a single speed camera in the nation's capital is financial terminator. it has fined so many people it could support six madison
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♪ melissa: today we are joined by the federal attorney. our very own also fabulous david asman.
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>> not an attorney. melissa: not an attorney, but also fabulous. i can't believe this story. if in washington d.c., one camera, more than 116,000 people speeding in less than two years. all those tickets brought in, we for it, a 11 and and a half million dollars. in total, the city raked in more than $178 million in tickets. i did not believe that number. i made them go back and check it again because it seemed too high. some drivers think it is a backdoor commuter tax. what do you get sick? >> public service issue. >> oh, please. i love you dearly, but you are wrong. agony mill from a guy in california who was in a similar situation where a ticket that he said, once he got for a button dollars is now $450. [laughter] forget this. plus they say for another $450 you can have all of your points removed if you go to a special class. so they're adding that on. there just trying to fill their
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coffers. that is all they're trying to do. >> i have crossed the streets. there dangerous. dodging cars as you go. >> cities anddstates right now are looking for any kind of revenue they can and doubling up on this or tripling or quadrupling. >> i am all against a city collecting revenue for anything. i just want the government to its smallest and possibly be, but in this one case i don't know. south selecting, and i am a speeder. i get a lot of tickets, parking tickets, so i am right there. i am sort of self selecting, so i have no one to blame but myself. >> the small-town southern sheriff looking for electric-or the office party every christmas. this tickets in december. >> what about the national debt. melissa: there you go. >> bloomberg. melissa: next up, i love this story, a row the monkey in florida was caught after a five hour stakeout in st. petersburg. always in sync petersburg or tampa. on the loose for more than three years.
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let's get him. three years he has been wandering around. it scratched and bit local residents after tranquilizer dart failed to bring it down, authorities chased it into the woods and caught him with their bare hands. catchpole. can you believe that no one shot the monkey is kind of one of wondering? and going teeseven e-mails about that. he's biting people. been on the loose for three years. >> a smart monkey. melissa: if they were texas. >> avoiding the power lines. apparently he looks both ways before it crosses the street. that is what they say. new yorkers don't do that. >> no. melissa: he wasn't sexting. so he's smart. >> i think it's great that they finally caught him, though. how scary is that if. melissa: three years. they're watching. i mean, really trying to catch. >> some of the neighbors were feeding it bananas. trying to throw the guards of the scent. melissa: they were not really helping very much. >> i guess not. melissa: i don't know. it will be interesting to see what happens now.
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moving on. mama jones will get another chance at an olympic medal after running hurdles for the u.s. team this summer and walking away empty-handed. now in the 2014 winter olympics in russia jones will be a proud member of the u.s. bobsledding team. his new? is there anything he can't do? why are we not join the fun as a fur and a bathing suit. total recovered. at eight. melissa: not really focused on that. well, that's better. that's better. i don't know. she is a fantastic looking lady. >> but she's going to be all covered up. the other thing, there are two people in this bobsled. the driver who has some fun, but then there is the sitter and the pressure. she is the pleasure. that has to be the most boring job in sports. you just push the sled and get an incident. >> but then you go 12 zillion miles-an-hour. >> but you're just sitting behind the driver doing nothing,
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keeping your head down. it's boring. melissa: a gold medal though. good for her if she is able to qualify. >> more exciting things, skiing or something like that. melissa: i'd take the back seat. i'd do it. another lipid story. two british olympians were partying at a nightclub in yen to 500 s when there bronze medals were stolen. there were celebrating the success. it is decided to go out and go clubbing. how dumb do you have to be. you're playing in off like you won it, but you didn't. and then what about these guys going clubbing. >> the first thing i thought about. who goes public with these? and their heavy. >> it's a chick magnet. it's a chick magnet. [talking over each other] >> by the way, they say this was an upscale club. they went there right after they met with the queen to get a drink. so i imagine who's still this. it's probably some these

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