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tv   MONEY With Melissa Francis  FOX Business  February 22, 2013 5:00pm-6:00pm EST

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>> time to go off the desk to san diego where men turned hooters into a drive through and left with a jukebox. as you can see, the thieves broke the back doors, backed the truck into the restaurant, tied up the juke box and took off. david? >> home prices dropped.1%. economists expect prices to decline.2%. >> watch the final reading for fourth quarter gdp next week expecting to rise a half percent, higher than the preeves reading of a drop of a tenth percent. >> justin the producer was worried we wouldn't make it in time. >> we did. happy friday, everyone. adam: i'm in for melanee stubbs.
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-- melissa francis. both sides red gi to let it happen, all hope is not lost. david walker, former u.s. comptroller says there's a possible fix, and he joins us to explain his plan. plus, prepare yourself for a meat shortage. forget soaring prices, the cuts could bring the beef industry to a halt. steak lovers get used to eating tofu. an expert is here to tell us why. close up for the oscars, but commercials, as you and i know them, could take a final bow. a breakthrough in the industry allows advertisers to control what you see in realtime. we could watch the same oscars, but very different commercials. the man behind it will explain how to cash in. even when they say it's not, it's always about "money." ♪
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top story's a big one. the payroll tax hike hitting harder than expected. -n monday, we were the first to teld you yesterday how walmart's feeling the pain due to payroll taxes and high gas prices. the payroll tax alone shifts $110 billion out of the hands of consumers and every single working american feels that blow. now, burger king, kraft, dart restaurants, and tyson foods expressing fear by lowering the forecast. this is ripple effect going to continue? how long? turning to the money power panel, and harry, author of "the great crash ahead," and managing director of economic policy at the center for american progress. welcome to all of you, and, thank you for joining us. harry, i want to read something
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to you. you said 70% to 80% of people don't think home prices are getting better. 20% of consumers say life it good. it would seem to me that if that is accurate, given the payroll increase of 2%, less money in our pockets, we are headed not to just an economic slow down but maybe a recession. >> as i said, 80% of the people don't feel we are out of the recession. they are stretched. real wages going down, adjusted for inflation. this 2% increase, after given to them, taken back. this could cut gdp1% or a bit more alone, and, remember, in third and fourth quarter, if you average the two out, we already slowed to 1.5%. you add sequester cuts from the government and more taxes on the rich, you could be at negative growth by the end of this year. adam: i'm concerned, you'd think a price cut is a good thing, for instance, burger king cutting the price of the junior whopper,
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but is this the beginning of the deflation their -- deflation crisis. is that where we are headed? >> you know, i don't think we're quite there yet, but you see companies really struggling to try to, obviously, keep their revenues up, and they are becoming more creative, which, i guess, as the consumer is a good think, but it's a telltale sign that this 2% payroll tax increase hit people in the wallet that americans really have not changed. they spend what's in their pocketbook, and that, you know, that consumers were not saving the extra 2% as some had suggested. adam: first time on the program, welcome to you. >> thank you. adam: the fact consumers didn't save the 2% cut we got years back in the payroll tax, that we are now using that just for day-to-day living seems to me this is a bad sign. >> sure. it's a sign that the economy is still weak and that any policies that take money out of the hands
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of the middle class and that lee deuce their disposable income is going to have a negative impact on the economy, and it comes as an opportune time for policymakers in washington as they contemplate the sequester cuts which currently constituted hits the middle class hard, further weakens the economy. it's the wrong thing to do right now. what we should do is alternate ways. adam: alternate, i got to ask you, it's a perfect storm of bad news. about to cut, the sequester cuts in government spending, people lose jobs, less money out there. they can't cut taxes again or can they and should they? >> what we need to do right now is think about alternatives to the sequester cuts and the solution, i think, is for republicans in congress to recognize that tax breaks and other spending programs in the tax code are the equivalent of government spending program, and if they encyst on cutting government and reducing the size of government, that's where we should be looking, look at tax
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expenditures and opportunities there that would shrink governments. it would increase revenue. adam: to shrink government cuts the dedicated funds like medicare and medicaid. we have to cut tax breaks, i think, the montra tax breaks for the wealth you, but nobody on either side of the spectrum says that's the solution. it's two-pronged. we have to cut spending and nobody talks about medicare, medicaid, and social security. >> you know, i think why are we not deciding to buckle up and make hard decisions? why retirement at 67? why social security benefits coming out? why are we extending the line to be 70 or 72? make realistic decisions and some expectations because we just know that under the current scenario, it's not going to fly. adam: harry, "the great crash ahead" is your book. are we facing the crash because we don't get a grand bargain
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because washington doesn't deal with either of these issues? >> no. i think you get a short term correction, 8% to 10% over the next few months over that whole debase. there's a final stock rally because there's slowing in the economy, more stimulus from central banks around the world, and then i think the second half of this year, yeah, you get a bigger downturn in stocks. basically, you can't stretch the economy this far, and we are showing here, just a 2% rise in the tax, and all the sudden walmart doesn't have customers in february. adam: the last word, okay, you want investments, spending from the government. how do we pay for it because we're seeing consumers pull back. revenue's going to pull back. tax revenue's going to pull back. >> cut spending in the tax code. as the president's proposed, limit tax deductions to 28% and raise $500 billion in ten years. that's where you should be looking. the first thing we should be doing is cut wasteful and inefficient spending programs in the tax code. start there. it's what the american people
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want, a balanced plan, combination of tax cuts and revenue increases. that's where we should be going. adam: all right, thank you very much for being here on "money." issues that we are all following, and we'll move on to the topic that everybody is talking about. the sequester. president obama taking steps to break the stalemate calling house speaker john boehner and senate minority leader, mitch mcconnell. they don't have a solution to avoid it and what to do after it kicks in a week from today, but you're in the right place because former u.s. comptroller david walker does. he joins me now in a fox business exclusive. what's the plan, sir? how do we get out of the mess? >> first, ads m, we're going over the cliff because there are not negotiations going on right now. they don't trust each other, they are not operating in good faith, and the republicans, i believe, are willing to allow additional revenues through comprehensive tax reform in addressing so-called tax expenditures, but they are not
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going to do it unless it's coupled with significant reforms to medicare, medicaid, social security, and additional spending reductions. the american people want a comprehensive plan. they don't want a balanced plan. adam: does the president hear that? he said they are not looking at entitlements or going above $250,000, but moved that. will he budge on this? >> he has to. the math doesn't come close to working. look, they go from one short term crisis to another short term crisis, and whether it's the fiscal cliff or the sequester, they are not dealing with the three drivers of our structural deficits. known demographic trends, 10,000 people a day eligible to retire, rising health care costs and the affordable care act complicates life there, and the need for comprehensive tax reform that makes the system simper, fairer
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e competitive, and raises revenue. get serious, be honest with the american people. it's time to work full-time until you have a fiscal deal. no deal, no break. adam: let me ask you this. we have a $16 trillion economy, talking about 85 billion in sequester cuts. why, you know, it seems as if that would not be such a big thing, and, yet, everybody is freaking about this. >> here's the issue. put it in context. the federal government spends $3.6 trillion a year, but the sequester doesn't relate to the 3.6, but just relates to so-called spending, at 1 #.3. we're halfway through the year. there's 650 billion left. it's talking about cutting 85 out of 650. that's a pretty significant reduction pretty quickly. what we need to be doing is actually cutting a lot more, a lot more intelligently including mandatory spending, coupled with comprehensive tax reform phased in over time.
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that's the only way you turn it off. adam: when they talk about a grand bargain, whether it's raising the age of eligibility for medicaid, cutting or means testing social security benefits, are you talking about phasing that in immediately or phasing it in over time for people like me under 50, perhaps later on down the road? >> for example, social security, raising the early and normal eligibility ages for retiemplet two years over 20 to 30 years prospectively. for example, changing the subsidies for medicare, 95% of people who voluntarily sign up for medicare get a 75% taxpayer if the premium. sphaizing that down, and, frank ly out for people above a certain income level. you can't make dramatic changing quickly, but you need 20 make them in order to get the miracle of compounding to work for us rather than against us. adam: david walker, i hope they listen to what you have to say in washington although you're no
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longer the comptroller. appreciate you being here. stocks rebounded after two days of sharp losses. series of strong earnings report led by hp as well as better than expected german business confidence data sparked the rally. the dow inched past the 14,000 market. hope we can hold it. the s&p 500 and nasdaq gaining each 1%. another painful day for gold. the precious metal settled at a seven-month low for the week losing 2.3%. all right. next on "money," planning to eat a nice juicy steak this weekend? yes, enjoy it while you can. the sequester could hog tie the beef industry, and it's not higher prices you have to worry about alone. there may not be any beef to begin with. this is not hyperbole. this is a legitimate threat to the nation's beef supply, plus, when only one property owner in 77 blocks pays their taxes, you
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know your city is in big trouble. detroit looking at default. we've got two top experts that dealt with this kind of thing in the past, and they have some advice for all of the cities in the country that they could learn from detroit's problems. more money coming up. ♪
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adam: look at that, a fine looking steak, garlic, pepper, and if you're a beef lover like myself, listen up. another possible effect of the impending sequester cuts could be a meat shortage. this is no joke. we're talking a shortage. secretary of agriculture tom vilsack said the agency would have to furlough workers, drastically cutting food safety inspection, and here's what that means to you. if there's no inspector, meat can't be processed, let alone sold to the butcher or restaurant. it may be time, although we should not encourage hording, start saving up on porter houses. joining me for more on this is the vice president of government
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affairs at the national cattleman's beef association. sir, i appreciate you're being here. i want people to understand this is not television hyperbole to scare people so they will watch. you guys are warning we could have a beef shortage because of the sequester? >> this is a code red situation for our industry, plain and simple. if we furlough all of the meat inspectors as you said, all the meat packing plants in the country shut down. what happens is all the sudden there's no beef from the back end for our customers, all of you watching, and there's a backup on the cattle waiting to be processed. this would be disastrous for the industry. adam: we had secretary vilsack talking about the bad problems with sequester. you guys agree. i can think of nothing more iconic for america than beef, nutritious, healthy, we export it. talking about a $10 billion industry taking a hit. could it, the department of ag, make cuts somewhere else? >> there's a lot of nonessential people at usda they could cut
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from. we asked the secretary of staff about that just last week, and they said they don't have a lot of flexibility. they were not able to give us the details as to why they don't have the flexibility. all you have to do is look back to the 95-96 government shut down urmdz the clinton administration where they were deemed essential. it's done in the past, but we ask the secretary to do that again in this situation. adam: why don't they deem the inspectors essential? you can't send the meat out from a plant unless the inspector is there to okay it. >> that's right. by law, we cannot operate plants at all without the inspectors in place. it's a food safety issue. we want to make sure that we ensure the integrity of the beef supply and keep customers safe, but that's a question, that, unfortunately, the secretary's office was not able to give us a good answer on so we are still asking to be made clear why we cannot deem these potential furloughs as just being essential employees. adam: as a citizen of a country
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who takes pride in the agriculture, not just beef, but farm products, what do you do? call your senator, congressmen? what can the people do to avoid a potential shortage of beef? >> call the secretary of agriculture and tell him to look at this because we need to make sure that we can produce beef, not just for our customers here, but abroad. we need to make sure that congress understands what this will do to devastate not only the supply of beef for your weekend cookout, but, also, what it does to all the cattle producers around this country that then have no place to take their cattle. this is going to hit their bottom line, impact their families. adam: thank you very much for the national cattleman's beef associate. the best to you and your industry, sir. >> thank you. adam: maybe this is why detroit will be bankrupt, nearly half the property owners, half, are not paying taxes. can it be saved in what about
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other cities in the country? two men who know best. plus, the u.s. wants to go mono-o-mono on nuclear talks, but pakistan could be iran's saving grace from brutal sanctions straight ahead. ♪ to grow, we have to boost our social media visibility.
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more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a contest online to be ceo for the day. how am i supposed to run a business here without an office?! [ male announcer ] fast, reliableeliveries worldwide. fedex. [ male announcer ] fast, reliableeliveries worldwide. we asked total strangers to watch it for us.
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♪ adam: mismanagement in mo-town. they are in a state of financial emergency, with, quote, no satisfactory plan to resolve the situation. it probably doesn't help that a new report shows nearly half of all property owners there never paid their taxes in 2011 so detroit is headed for default, and this is a situation that is happening more and more facing other municipalities, but are there any lessons that other cities can learn to avoid
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economic crisis? here to help us answer the question, sort this out, two experts in the area, former new york state lieutenant governor who knows about urban economics, saved the mta years ago here in new york city, and ohio congressman and fox news contributor, dennis, dealt with a similar situation as a mayor of cleveland, a city i loved, and when they defaulted years ago, and history proved he was right when he was the mayor. we can't get into the res of that, but you have half the population not paying taxes. seems to me that detroit has faced a break down in the social contract. how do you put that back together? >> it is the most serious risk of all of these growing insolvencies around the country is that social order is threatened if people are not getting services they deem necessary and they begin to act improper fashion, you owe taxes whether you are satisfied with the services or not. it's a matter of growing concern
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around the country. adam: you are retired from congress, but what do you advise municipalities that face default with a population not paying taxes? how do you turn that around? >> well, i'll tell you one thing to happen, go after the banks and credit rating agencies. it's a hickup from the 2008-2009 financial calamity that hit the country. the banks and credit rating agencies stripped mined these cities, and the cities take it in the neck right now. it's going to keep happening. in addition to the trade policy, detroit mightily, you know, the city doesn't all the sudden go from 1.8 million to 700,000 without catastrophic effects on all of the system, and so, you know, we got some bigger questions there. do we have an urban policy in the united states? this is something that is a deeper discussion, adam, about the path out. adam: the urban policy expert, a
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lack of policy in the united states or as the mayor -- excuse me, the former congressman says, blame the banks because of the housing crisis, or is it a deeper problem? >> i think it's a deeper problem. problems didn't start with the crisis in 2008; though, i agree with the congressman that it was accelerated by the way the banks and credit agencies behaved. the truth of the matter is that they have been fundamental shifts, demographic ships in the united states. adam: people are older, bigger pension obligations. >> retirement expenses and health care expenses have grown faster than our revenues, and there's barely a city in the country that is not in financial difficulty in one shape or another. adam: congressman, i realize you cannot ask people past the point of recovering. you can't cut their pensions or retirement benefits, but suspect that where municipalities have to look that people under 50, perhaps what was promised, can't be delivered in the future? >> look at it two ways,
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macroeconomic and microeconomic. macro deals with national policy. bring jobs here. you know, and cities will feel the knock effect of a rising tide in the economy, but in addition to that, the microeconomics, the cities must become, once again, an engine. you know, jane jacobs years ago had a book "economy of cities" talking about the essentiality of cities to the overall national economy. go back to rebuild the infrastructure, get citying working again. adam: i love the midwest, the rust belt, my favorite part of the country because i lived there. i heard this, put people back to work, since i was a kid in the 70s and 80s, but it didn't happen in detroit. >> water. when you consider all the great lakes cities and states sit on the largest supply of fresh water in the world, this is our future. there's no reason why we should see these communities start to go down so, you know, it -- part
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of it, back to what i said, we need a national economic policy to put a full employment economy, and we need health care for all. the health care costs are going out of site because the private sector is taking one out of every three dollars for corporate profit stock, executive salaries. we need a new approach. rebuild the infrastructure. adam: do you agree with the congressman or something, i mean, we have to deal with immediately. >> i agree we have to invest more in the infrastructure in part because job creation is critically important when you have the number of unemployed that you have. i disagree with one fundamental point. we don't legislate policies in the united states. we legislate programs. we talk a lot about urban policy. we have graduate degrees in urban urban policy, but we never had a policy and never will. that's not a solution to a problem that is a fundamental result of what i said before, that revenues at the state and local levels are not keeping
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pace with the obligations that they assumed in -- adam: of the aging populations. >> in more prose prowess times and aging populations. adam: thank you so much. both men made difficult fiscal decisions and both had lives threatened because of it. it's a commonty you have. great to have you here on "money." the u.s. is pushing hard for one-on-one nuclear talks with iran next week, but a major pipeline in refining deal with pakistan could be iran's savior from sanctions. we'll tell you why. plus, the oscars broadcast, an advertisers dream, but the old way of running commercials in big events could be on the way out. how realtime bidding by advertisers could redefine the commercials that you and i get to see during those programs. the man behind it will join us with the details. piles of "money" are coming up president ♪
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♪ >> welcome of the united states is taking bold steps, pushing for direct talks. next week and does extend to put an end to the regime's nuclear program. the white house evidently worried that this could be the year they actually break out and develop an atomic bomb. here to tell us if those talks actually happened and what could
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come out of those discussions is chris warmer, a senior naval analyst with the institute for the study of war. welcome back to the program, appreciate your being here. we want the talks. they cannot. >> it is a pleasure to be with you. you captured the essence of the issue completely. the iranians see no purpose in talking to us. we have a great interest in talking to them. they have nothing to say to us. for the last 34 years gile versus the iranian revolution in 1979, there has been some level of tension and conflict between the united states. they don't see any upside to talking to us about that. they have decided they want to be international state-sponsored terror and pursue nuclear weapons programs and there will do that. >> she pointed out to the staff that they waited as out 34 years. they can wait another 34. if the bill this natural-gas pipeline with the help of pakistan, pakistan gives them food in exchange. does that help their hand? at the pakistan was supposed to be an ally of ours. >> pakistan is nominally an ally of ours, but one of the truce
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and the international relations says states don't have friends, they have interests. the pakistanis and iranians share some fundamental economic and securrty interests that make it highly unlikely that there will help us in this regard. the fact of the matter is they produce a tremendous amount of agricultural goods. the iranians need does several showed goods, and so they're willing to trade oil and natural gas from a rural road goods and there is not allowed to weaken the to stop the trip from happening. >> from a business perspective, and the stand that the united states by having the sanctions against, it costs u.s. business something like $25 billion for just the individual american. it adds something like $0.25 per gallon to the cost of gasoline. i realize there are a threat. trust me. the jewish-american, idea of having an affair weapons tears me. perhaps we should revisit the sanctions. >> well, i cannot talk to the policy of weather now we should revisit the sanctions. they have caused no fundamental change in behavior whatsoever.
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there are two primary behavior's we're trying to change. the first is, the single largest a sponsor of terror in the world. the two primary clients are two of the largest foreign terrorist organizations in the world. as long as they're sponsoring those terrorist organizations, we are going to be in conflict with them. the second thing we're trying to change their behavior is a pursuit of a nuclear weapon. there is nothing we have seen in their behavior that indicates that the sanctions are compelling a change in their behavior. >> what can the united states do, as we wrap this up? it seems that our current policy is one of retreat. >> we can call at a retreat from a strategic withdrawal, reorientation. whenever we college, they know we have a lot fewer forces in theater today than we did five years ago. we have withdrawn completely, in the process of withdrawing most if not all of our forces from afghanistan. we simply cancel the carrier deployment to the middle east a couple of weeks ago because of the budget cuts due to sequestration. they sense that we are weakening
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opposition. there is no upside whatsoever for them to talk to us about this. >> we will be watching this issue, especially next week, whether this discussion takes place. as you were going on there, israel said that -- the issue this statement that there the closest they have been to a nuclear weapon, so this is not going away. thank you for joining us. >> have a good evening. adam: it is time for today's fuel gauge report. gas prices climbing for the 306th straight day in a row. aaa says the average price of a gallon to find a few tenths of a penny. gas prices are up $0.49 per gallon since the rally began on january 17th. there could be some relief for drivers on the horizon. gasoline futures posted their worst week since december falling almost 2% which breaks of 5-week winning streak. oil futures snapped a two day dive. the economic data out of europe helps. selling in $93.13 per barrel. it was still the worst week for
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a futures since october. they fell just under 3%. coming up, the ku nailed your oscar pool? does that bubble has you beat. he is going to deliver his winning predictions for the son in that ceremony live on "money." speaking of the oscars, how about that business trivia question. which hotels ceo knows the famous henry the fifth pre battle speech by heart? once more into the breach, difference. the answer on the other side of this break. at the end of the day it's all about "money." ♪
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♪ adam: right before the break we are lost -- asked our oscar trivia question. here's the answer. the ceo of marion says in henry the fifth the motivational pre battle speech he gave to his molly group, i know it by heart. english majors, you know what i'm doing. award season is in full force. the academy awards, the entertainment industry super bowl sunday night. millions of people try to
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predict and bet on who will take home the oscar. we are doing in our own way, our own take zero "money." you may have seen the next guest as one of the semifinalist's of america has got talent. mind reading extraordinary and he is here with a preview of this prediction. you have to write there. >> i do have been sealed up in this very oscar-looking envelope. don't open that. >> i won't. >> its gasol steel pieces put that aside. adam: i feel like a great karnak. and sealing the envelope but the production. i am going to drop a line to exist here. i have drawn a little bit of of the. v for victory so that if this gets opened. >> exactly. adam: i will not place this into a lock box. i will set the lock box. i have the keys. i will now locked the lock box with the envelopes in sight. okay. a failed second grade. i will get this lot. tell me more. we going to get some
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predictions? >> every year nine pictures for best picture. always a chance. adam: it is locked. what you to see that. i will not swallow the key. so melissa frances will be here on monday. this box will stay with me for the remainder of the show. i will hand this to jessica, our producer. she will spend the entire weekend in a locked freezer. she will not be out. you will not eat. on monday we will bring around with this. melissa will have the preview. what is your methodology? >> i am just a big movie buff myself. i try and see as many of the oscar predictions monster movies as i can't. so i just try and judge it based off of, you know, things that have one in the past, trends and kind of mega pics based off of every action, critically acclaimed movies as well as with the general public likes. adam: i don't think that your's care what i think paribas going
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to tell you. i love lincoln. i don't think it's going to clean up. i just don't. they're all powerful. maybe daniel day lewis is best actor. i think that's it. i think that argelander getting best picture. she voted best actress. you'll care what i think. you care what he thinks. do you think there will be some big surprises? oh, my gosh, kind of thing. >> there is always surprises. whether it is with the award to someone acting every discipline stage. it will have to see and find out adam: which categories aren't not in that envelope? >> best picture, best director, best actor, best actress. i have even gone and done supporting actor and actress. adam: i wanted to add one, the celebrity out of rehab meltdown. you will get that one another date. thank you very much. be sure to watch the final reveal monday night. this will stay with me on set. i would give it to our senior producer, jessica. she will be locking is in another part of the building.
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thank you very much. speaking of the oscars, it's another big night. giving them millions of people who 210 advertisers spend billions on commercials. there are always some that you can barely stand to sit through. there is a breakthrough in the business which could make the experience more enjoyable. i don't know if i say more enjoyable lot better for a lot more people and more profitable it's called a real time bidding and it lets advertisers change the ads that you receive based on your demographic. makes perfect sense. after all, as 60 year-old woman in kansas probably does not have the same interest as a 30 year-old the new york city. president of a company that developed this technology. thank you for joining us. and this is going to revolutionize the advertising industry. >> absolutely. it is a dramatic change from the way that we have done things in the past. it really is a shift toward understanding the importance of
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driving personalization, not just in content, but in advertising as well. adam: how does it work? how you make sure that emily is telling the new york city is not watching the same thing that the 20 year-old and l.a. is watching? >> you know, one of the advantages of digital media usage by the consumer is that there is a lot of information shared with the sites that you go to a regular basis. your favorite web sites, favorable environments, services used. you can capture those signals, apply them to the creation of a page and apply them to which data is chosen to deliver on a page. we do this in milliseconds another couple of hundred milliseconds and make sure that the right egg gets delivered to the right person at the right time. and in doing so, you know, we raise the value of the advertising and the spirits for the user. adam: i can see how this plays out of line. what about untraditional fashion old media broadcasting?
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the implication is there, i would imagine, that this could be a huge moneymaker. >> absolutely. the world is moving toward every screen experience. so whether it is the super bowl or coming into the oscars again, there are predictions of not just you what is happening on television, but i observe that experience of my ipod the mobile device to all of these being connected at the same time, being able to manage every ad across every screen and all the sales channels is really what our platform allows to happen for us, advertises in the media companies. adam: i would imagine that as we get to the shift from traditional broadcasting and current traditional internet, when all that is integrated whether it is here apple dvr whenever will finally happen, your methodology, your technology takes off. >> that is exactly right. it has already been reported. ibc did a research report last year. it looked at a time where a few years back there was no such thing as real time bidding.
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it is predicting that by 2016 real time bidding will be an almost $14 billion industry worldwide. 9 billion almost of that to be here in the united states alone. and the reality is right now that trend or that growth is the fastest-growing part of the media ecosystem. so we are excited about what we provide publishers, and we are excited about the appearance it means for the consumer as well. adam: i wish i had sat next to you in seventh grade algebra. what have passed that course. >> thank you for your time. adam: all the best to you and your business. up next on "money," as if getting in a car wreck is not bad enough. one city pushes for with a crash tax. has it really come to this? you can never have too much "money." ♪
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this
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♪ adam: no heavy lifting. actually, it is "spare change" and we will have some fun. today we have read dispenser in frazier site tel. first up, thank you for being here. in case your taxes had not gone up enough lately, what do you think about the crash tax? this is a legitimate divvied a
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new plan in a suburb of houston. whoever is at fault in a car accident will get an added fine of 500-$2,000 depending on how bad the crashes. the money goes to pay the cost of the first responders. you think this is fair? >> i think in theory is fair because people do create a number of expenses for their communities. adam: a no-fault state. >> that's just did. most dates are no fault, and that is what the insurance companies pay for. in this case i think people have a legitimate reason to be concerned because insurance companies are not likely to happily ride another check, and this cost might be afraid to then. adam: it sounds like you are pouring salt into a wound. last thing you want is to get hit with a tax. >> if they impose this tax with the state of florida and all those zero people driving no one could afford. adam: i've learned to drive in the state of florida. >> no cars in the state. all right. we're going to move on because i think this is one of those things that most people say bad
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idea, and is coming anatexis. road kill. montana's house of representatives has passed a bill to legalize eating road kill. the bill applies to game animals , and deer, elk, so they can be harvested after they get hit by car. in 2011 there were nearly 7,000 carcasses found on the side of roads in montana. i was shocked to learn that you're not allowed if you were to hit a eer, you have to leave it. you are doing something criminal with the evidence. >> and never even knew that was a rule, but i always leave the year after i hit him. >> i think this is great. allows game birds, game animals, and fur-bearing animals to be eaten. i draw the line effort. to show up. i just will beat. adam: of bst, if someone invited you over dinner in montana and said, i have something really exotic. >> i don't know how this is supposed to work. the animal on accident or on
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purpose or is it what you're driving home from work, you see an animal on the side of the road can decide to put in your truck. >> you know where they do this, honey boubou. they have in their feasts. adam: road kill is legal? >> the mother looks forward to it. >> i don't think we need a lawmaker's aspiring to that lifestyle. adam: already there in washington. let's move on to the next topic. flying is an incredibly unpleasant experience, but this the new gadget is about to make it even more annoying. maybe not. then the defendant present -- prevents the person from sitting in front of you from declining their seats. it sells for up $20. would you use this. >> in the heart beat. i'm not that tall. when someone drops a see down in front of you it is very uncomfortable. and for grown men who are five-foot a, they don't -- >> six-foot tube. thank you very much. it is -- that is just a consequence. >> gle

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