>> and in case you. [laughter] i'll sit there and you sit in the other section. warner: in case you missed it grambly lost to alabama state, only one division one men's basketball team in history to go winless 0-27. imus: who was? >> grambling. imus: really? >> said coach david price, you can't win them all. imus: that's not funny, warner. >> and roy mcelroy who just one hour after walking off the course had his dentist in belfast fax a statement he had a sore wisdom tooth says it was not the thing to do. duh. imus: 18 after the hour here on the "imus in the morning" program. and buzz bissinger is next. here is one of the great song writers ever.

♪ if you don't love jesus, go to hell ♪ ♪ if you don't love jesus go to hell ♪ ♪ ♪ ♪ imus in the morning ♪

>> big smile, everyone, it looks like this is the day. the dow jones industrial average set to open higher in minutes it could be above the old record high. good morning, everyone, 37 points, that's all it it takes, 37 points to match the 14,164 the dow hit back on october 9th, 2007. this, you want to see. now is the time to check your 401(k). now is the time to see how your stock or your mutual funds been doing, maybe your retirement looks more solid or college fund is up. the point is, this stock market rally brings back hope to investors. in a sea of doom and gloom, wall street is back and "varney & company" is about to begin. streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia

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>> good morning, "varney & company" viewers,today is tuesday, march 5th, a potentially historic day.

and the dow jones industrial average just a smidgen away from an all time high and there are three reasons why we're here. number one, ben bernanke and the fed keep printing, no signs of stopping, free money all around and some of the trillions has gone into stocks. and then there's this, what do you get when you buy a bank or cd, nothing, and all the more reason to buy stocks and switch your money out of bonds. don't forget this, please, house speaker john boehner is pushing a bill that would keep the cuts, keep the government running through september and no more tax hikes. that is attractive to investors, if not the president. there you have it, three reasons for the rally despite the miserable economy. we've got the markets covered for you on this historic day, all of your favorite "varney & company" members plus this: check out our all-star lineup today. actress and environmentalist daryl hannah, arrested several times for protesting the pipeline.

she has a new movie out that slams the oil companies and get this, she joins the company, 10:05 do not miss her, 10:05 this morning and also, a led light bulb for less than ten bucks made in the plant that president obama visited in north carolina in 2011. we've got the chief of the green bulb company here. and lamborghini sales up 50% in america last year. does this mean the rich are back? even if they have to pay 50% in taxes. the lamborghini chief executive officer 9:52. will we open above the old record high? i say, yes, we do. find out in moments for sure. the opening bell is next. [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ woman ] if you have the nerve to believe that cookie cutters

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what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ >> all right. everybody, we're real close, 37 points away from a dow record. charles payne, nicole petallides, they are scott schoen joining us for the day for your money. charles, i say we open above the old high and close-- >> i think the first part we get unless something crazy happens in the next minute and a half and the rally could build, not only has it it been the stealthiest bull market in

history, the most hated bull market in history and i think it's two positives. stuart: that's interesting, the most hated bull market. >> no correlation to the u.s. economy, no one thinks it's real. stuart: let's bring in nicole, a couple of smiling faces on the set here. i expect to see some smiling faces down there. and don't tell me otherwise, nicole. nicole: i'm not going to tell you. on the contrary these guys want a bull market. and you want wall street to do well, you want main street to do well and we're looking at all time high. and look [inaudible] the truth is, you have extra media here as well to cover this sort of event, right. and break into the all-time highs, we're ready just in case. stuart: good buzz as they say, now, just go back for a second to march of 2009 when the dow bottomed around 6,300. and we're going to open today

well above 14,000, above a new high. not straight up, but up. 8,000 points in what, four years. now, that is a rally and a half. okay, the opening bell has rung. the initial trend on wall street is up. for a gain of 13 points now. remember the old high, 14,164. when you get past that, that means the dow is now above the old record high for a closing level. let's not forget that. so keep an eye on that as we bring in scott joining us from chicago. we've got the bases today. i say we close above 14,200 today the rally is for real and you say what. i think it's for real, but it's not inspired and you have to listen to what the government is telling you, they're going to continue with this program and as long as they continue with this program we're going to slowly go higher. i agree with charles, one of the most hated why charles is right, it's going higher. stuart: okay, we're above the old closing high, it just happened.

and roll the graphic, 14,177. we're up almost 50 points and this is a new high for the dow. and i should say, it's higher than the old closing high. and still going up. okay. well, i think we should celebrate this moment, charles. and this is a cause for a smile. charles: break out the old dow 10,000 shirts. for people who are extra cynical taking into account inflation we should be at 15,000. stuart: come on, come on. the old intraday high as high as the dow has ever been in history, was 14191, okay? now, we're now, let's see, 4 points away from the dow never ever being higher. okay? we're very, very chose to that. while we're waiting and we'll keep this up so you have a good look at it. nicole, what-- give me the two stocks in the dow 30 that have carried this industrial average to this record. tell me. >> that's right, we're ten points away from the all time

intraday high on the dow jones industrials, two names that helped us along this year in an incredible fashion, hewlett-packard up over 40% this year, the second best performer is home depot, and that's up about 13%, so you're seeing both of those, and now, we're six points away from our all time intraday high in the dow. stuart: you're right i misspoke, 14,198, the dow has never been higher than that, we're about 9, 10 points away from it right now, a solid gain at the opening bell. and we're above the old closing high. i want to bring you two more big names, you know them. they have been moving in the opposite direction, let's see where they are in light of of today's new high. google yesterday closed at $821 a share and that's a new high. where are we this morning, 830, look at that, another new high. now, let's turn to apple. that continued to move lower yesterday, we're down around 420. it's up just 1/2% today and a

regain of a mere buck 79. that's all you've got. we're beneath the all time intraday high, 14,190, we're 8 points away from that, but keeping a close look at it. all right, charles, here is where i think it ends. i don't want to be a wet blanket here, but i think it ends when ben bernanke hints that he's going to quit printing money. charles: well, you could be right, but that hint could be somewhere dow north of-- i don't know, been bernanke has been pretty adamant about not cutting, stopping this for a very, very long period of time. stuart: there you go, 14,200 never this level before, never ever. >> ben bernanke has been adamant about trying to get this economy going. listen, one thing we don't talk about a lot when we criticize and i say we, certainly people on the street criticize ben bernanke is the fact that he's probably feeling like he's not getting any help on the fiscal side. no fiscal policies out there and he's the only guy out there in his mind with power that's

trying to do something to help and i think the one thing, too, with ben bernanke, and actually scares me, is the notion that he can just stop the threat of inflation with the flip of a switch. and it's-- he feels very-- his ego when he talks about that worries me, but this is a concern that could be a year, two-- >> that's the whole point. you've just crossed a all-time high and the dow has never ever been in this territory before. and i think it's far too early to talk about when this thing ends. when ben is going to hint about dropping his money printing policy. i think we've just got to celebrate the moment here, 14 on the dow. i feel bad for anybody who's not been in this rally, who missed it, who sold in march of 2009, got out, went into bonds, and now, they're looking at an 8,000 point gain in four years. charles: february, march, 2009 americans sold 50 billion dollars worth of equity mutual funds at the low into that terrible selloff and most of them wrote off the market and

said they'll never get back in again. imagine the end burst, it's just a shocking, sad-- >> personal wealth would be so much higher if they'd not sold 50 billion dollars worth of mutual funds. >> and what about people who say we should never put social security money into the stock market. now what? first of all, the selloff wouldn't have been as bad, as strong selling and somewhere significantly higher than 14,200. stuart: the dow is well above 14,200, nicole they've got to be cheering. nicole: they are, once i came by 43 seconds to break through the closing high. here we are, 14,208. names like cisco systems and bank of america, helping us to break these all time record highs on the dow jones industrials. you have 29 of the 30 names in the green on the dow and now, 14,210 and it's just green across the screen. stuart: i've got to break in for

a second. because i've got to say i feel sorry for those people who bought apple at 500, 600, $700 a share and are now looking at it at 420 on a day when the dow is skyrocketing to record high territory. i've got to say i feel bad for them. you first, charles. charles: i don't feel bad for them unless that's the only stock you bought. 40% of people have one stock and how they play the market and that's why the market is a casino to a lot of people, buy one, two stocks and see how they work out and hold them for a short period of time. a year from now, these people may be happy, so i don't necessarily feel sorry for them, but people out there should have a basket of great american companies in their portfolio. stuart: i had a great basket of american companies, unfortunately microsoft miserable at 27.28. did you want to add anything on apple, nicole? >> yes, i do. it's horrendous, right? i don't understand why it ran up, obviously, apple is a great

company. a lot of cash on hand and a lot of great products and a lot of believers in apple the at 400, 500, 600, 700, they thought going to a thousand. and ultimately when you're an investor or a shareholder, you say how did this happen? how is the market at all-time highs and i'm not celebrating at all. terrible. >> by the way, wal-mart is a one dow stock, one is a 30 dow stock in the red and the other 29 are higher. scott, are you still there? >> yes, i am. don't go away, we need you on a day like this. you agree with our conclusion that over the long-term this rally really fades when ben quits printing money. >> i agree with that. that could be higher when things in the economy look better. so if the economy is looking better, that should be mildly supportive stocks and he has a difficult balancing to take that spigot away and at the same time foster a he decent economy,

that's his hard job. >> i don't know how you're going to do it. how do you sort of pull away the punch bowl or the cup for the punch bowl. how do you do that without damage? i just don't know. all right. i've got to go because we now-- look at the dow. 14,220. it's now up 92 points. okay? 92 points higher and the dow has never been here before. never been here, charles? come on. >> smile. >> i'm-- look it, i'm really happy, happy because a lot of people-- >> wait a second, you're the guy who's been telling our viewers for a long time, you should be in stocks. >> absolutely. >> you should buy the companies which you know, whose products you use, you should be in there no matter what, you should be in there. >> i've been saying it for a long time. it's been really tough and people still e-mail me, see me in the streets they can't do it, they dislike the president too much to do it, they dislike ben bernanke too much to do it. it's not about that. it's about these companies and i still think a lot of people are

getting it wrong. my speech is still about the global economy. most of the things that i recommend to my subscribers have growing global footprint. stuart: i'm afraid i'm one of those who let his ideology get in the way making good sense with investing. charles: a lot of people. stuart: there is's so much amon for the economy i couldn't see a house like dow. charles: if the republicans didn't have the house of representatives i'd probably sell everything and head for the hills. if the president could get through all the policies he would love to get through, and the growing global economy couldn't keep this market up. stuart: i want to stay on stocks, this is a big day, historic day, clearly big. i want to give you seven early movers and we picked these out earlier and they are moving and let's see how they're doing in a record high dow. first of all, the 3m company, that, now, this is the dow -- this is dow companies so far in year. 3m, up 11% and up some more

today. and j.p. morgan up 11%, and i believe up some more today. disney, now, this is for the calendar year 2013, 12% up on disney and it's up again. travelers corporation, 12% higher this year, and it is up again. and p&g, prokt gambcter & gambl depot up, 14% for the year, another 1/2% this morning and hewlett-packard, the big dow winner of 2013, already up 40% a lot of internal movement within hewlett-packard there, up another 1.65, 170, $20 a share on hp. back to the big board, because we are very close now to 100 point gain for the dow and a historic day. 14,222. we blazed past the old closing high. we've blazed past the old intraday high. we're now at a level that the

dow has never ever seen before. anything to add charges? you can smile, come on. >> i'm excited. i'm excited. but you know what? let's keep taking it one day at a time and. stuart: yes. charles: me people are worried that people who are skeptical jump in a mild correction and say, see, i told you so. isn't that what happened? ripley's law. stuart: i'm afraid you're right. and there are other stories we'll cover for you today. here is what we've got. we keep saying that the rich are leaving california because of higher taxes. they're not alone. the wall street journal alicia finley is here, and saying many lower income workers and hispanics are leaving the golden state as well. don't you wish you could choose whatever wireless provider you want and keep your phone? there's a major push to keep that happening, and why is there a push from the white house? judge napolitano. an elderly woman dies at an

assisted living facility after a worker refused to perform cpr on her. the woman signed a contract knowing that's a possibility. where does top trial lawyer mark lanier stand on this one when he legality stands in the way of humanity? and just like the dow tax record 2.7 trillion dollars, all time high, why do we have a deficit of a trillion dollars a year? surely this is a spending problem, isn't it? all right, next, a former democrat senator who's seen the light on debt. when will her former colleagues do so. clients are always learning more to make their money do more. (ann) to help me plan my next move,

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>> are we still in record territory? yes, we are. up 90 points, 14,218. we have never, ever been here before. big day. well, can you say spending problem? federal tax revenue forecast to hit a record 2.7 trillion dollars this year. never been higher. well, joining the company from washington is former senator blanche lincoln with the campaign to fix the debt. senator, welcome to the program. if you're serious about fixing the debt, and you are, you must be serious about entitlement reform. that's part of fixing the debt, isn't it? >> it is. just as, you know, looking at the spending cuts that need to happen, we also need to make sure that revenues are in place, i think, you know, i think that's an old debate. we need revenues, we need spending cuts, but what we really need to do is change the trajectory of the debt. stuart: hold on a second, i've really got to zero in on entitlements and that would be medicare, social security,

medicaid as i understand it. yet, you've got to zero in, what would you do for serious reform to get a handle on our real debt? >> well, i think one of the most important things we can do is look at these programs and figure out how we can administer them in a more smarter way. i mean, if there's anything he we know in washington, is that government can operate in a smarter way. stuart: senator, i'm fairbly story to interfere with you, to interrupt, i've been hearing eradicating waste and fraud in government for the 40 years i've lived in america, specifically-- >> well, it's not-- >> would you raise the retirement age? >> that's something we should talk about and we have. i've only been here 20 years and we've done it twice during that time. stuart: raising it again has been rejected by your former colleagues, the democrats in the senate. >> the point is that everything should be be on the table. if we're looking to try to

transform again the trajectory of the debt and to put into place the kind of policies that are going to grow the economy, which are going to be essential if you want to sustain what you've seen on the stock market today. stuart: okay. >> i mean, that's going to change, but you've got to look at, yes, entitlement reform, you've got to look -- and we did it back when i was in the house. you know, i served on a welfare reform conference committee. there were things that, steps that we took, but nothing is being done right now. stuart: nothing is being done. and we've got to bite that entitlement bullet. senator, i'm terribly sorry, af i've got a big day because of the record on the dow. >> sure do. stuart: and come back again and wa i want to know how you're going to fix entitlements and other democrats with you. the dow is up nearly 100 points and where is gold. up $10, 1583 per ounce. try this on for size with a regard and the dow hits a record.

i've got u.s. lamborghini sales up 50% last year, clearly, rich people are buying. lamborghini's chief joins us next and i'm going to ask, if you've got the huge sales increases for lamborghinis, isn't the left going to go crazy and say, they should be taxed? i'll ask him. he's next. ♪ baby you can drive my car, baby love you ♪ ♪ [ male announcer ] this is joe woods' first day of work.

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>> oh, this is a history making day because the dow is up 104. the dow has never been at this level before. 14,231. now this, the super rich clearly spending, and here is an example, sales of lamborghini's in america up 50% last year, yes, the rich are buying. joining us now is stephen, the president and chief xek i have officer of lamborghini, i've got to tell you, you, sir, are giving ammunition to the left in america, all time high for the dow industrials and you're selling 50% more $300,000 cars

and the left says we've got to tax those people, you're killing your own market here, that's what you're doing. >> yeah, you think so? i think they said a long ways to go to come back to the high peak we had in '08. stuart: okay, that car behind you, that is the 4 million dollar car? you've only got three of them, is that correct? >> yeah, we have 3.9 million or 3 million yet, and do three-- right, going to the u.s. and one is going to the middle east. stuart: and you want to tell me who are the two people who bought them in america? >> no, i will not tell you. if they want to speak up, they will do on their own and this is not our policy to name our customers. stuart: okay. probably a good idea. stephen, i'm sorry we're out of

time, but it's a big day for us, new regard for t record for the dow. and good luck with the lamborghini. and daryl hannah no stranger to getting arrested with the keystone pipeline. she's got a new movie slamming big oil. >> the folks without the facts are far more effective and convincing the public that this is not a problem than scientists convincing them we need to do something about this, these people are charltons. [ female announcer ] from tracking the bus. ♪ to tracking field conditions. ♪ wireless is limitless.

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stuart: all right everybody. good morning. this is a very exciting day. wall street has come back big-time. return to levels not seen in over five years. in fact we have never seen these levels for the dow jones average ever before. here's another record that we are covering for you, government revenues, this year, 2.7 trillion dollars. never been higher. so why do we have a trillion dollars deficit you ask? maybe it's because spending is the problem, not those revenue -- record revenues. now this, we are pleased, delighted in fact to have with us the movie star and activist daryl hannah. we are still moving higher. the dow industrials now up 110 points -- 110 points.

never been higher than this. let's bring in sandra smith because we've not had her opinion on this rally and why we have this rally and how far it's going. let's go. sandra: there are traders that are very hesitant even though we're reaching the all-time highs, a lot of them are saying we haven't gotten here without the help of federal reserve stimulus or money printing. we've still got historically low interest rates that have helped prop up the stock market. keep in mind this is the dow 30 hitting all-time highs, not the broader stock market. the s&p 500 -- stuart: so you have a lousy economy, that's my valued judgment. sandra: struggling. stuart: nicely put. but as long as ben keeps printing, the dow goes up 120 points to all-time high. do you have anything to add, charles? charles: the ben printing money hand even begun to hit the stock market. this is legitimate dow market based on valuations, based on profits being generated around the world. this is legitimate and this is why people have missed the rally for four years. look at p-e ratios.

this is real. >> we should buy? stuart: this is ben's rally. charles: ben's rally would be dow 15,000. that would be ben's rally. stuart: all right. let's get back to nicole. which are the biggest dow gainers this year? which are the dow stocks that have propelled us to 14,246? nicole: the first would be hewlett-packard. you can see it is up 1.#% today -- 1.6%. up over 40% this year. that was the big loser of 2012. and then there's home depot, another name that's been a big leader this year, up over 13%. and home depot we should note is hitting an annual high of nearly $71. so that's another one. those are two names that we will continue -- 70.96 was the new annual high for home depot. this is pretty exciting stuff. for all the people who were really beaten down during the financial crisis and everything at 6500 and everything at new lows and job losses, this is a great day. stuart: 8,000 points in four

years ain't bad. charles? charles: the february ism nonmanufacturing came in a little better than expected. that gave it the little boost we saw. stuart: here are the other big stories of this hour, federal tax revenue 2.7 trillion dollars, we've got that. that's according to the congressional budget office. charles, this is a spending problem, not a revenue problem. charles: and this is why, you know, it doesn't matter, the debate over revenues seems to be so disengen -- disingenuous and farfetched. if they took in 5 trillion dollars, they would spend 6 trillion dollars. stuart: i would like to move to dr. ben carson, he said the white house warned him about what he could and could not say at the national prayer breakfast. >> certainly i got messages from the committee that they would refer that i not say anything that would be construed as, you

know, nasty or offensive to the president. stuart: sandra, he didn't listen, did he? sandra: listen, i have a lot of respect for dr. carson. i took part in that hannity special where he was on for an hour. it was my privilege. i really enjoyed listening to him talk. however, isn't that a little bit obvious? i don't want to beat up on the white house too bad for simply saying don't offend the president when he's sitting before you. that might be a little bit assumed. however, if they were trying to direct him to not talk about sensitive issues, that would be a different story. stuart: i think they were trying to talk him out of speaking about politics. sandra: well, that's a problem then. stuart: don't talk politics. sandra: that's a problem, yeah. stuart: obviously the man did talk politics. sandra: he brought up the politically sensitive topics that can rub a lot of people the wrong way. stuart: he's a shooting star this guy. sandra: he was a straight shooter and people appreciate that. stuart: let's listen to what brit hume said about president obama's scare tactics when it

comes to spending cuts. >> this is not what we expect of presidents. they need to be prepared to shoulder responsibility and if they are criticized for using that responsibility or authority, so be it, but that's what you expect of presidents. stuart: darryl hannah is here with us. we will get to you in a second. charles: we expect leaders throughout our history from churchill to jfk, anyone to be a leader, in other words no one sells fear as much as this white house sells fear. evvryone in the administration telling us how this is going to hurt our kids, our elderly, our seniors. no one is saying hey listen this is a bump in the road and we will get through it. stuart: i think darryl is going to sell us a little fear about global warming. we will get to you shortly. hold on. the green tech company is called cree makes led lightbulbs under 10 bucks. it comes with a ten year guarantee. president obama visited that

north carolina plant that builds these bulbs back in 2011 saying it is a great example of a green energy job creation program. well, the company's chief is joining us about half hour from now. can he finally sell me one of these new bulbs? 10:52, the cree man is here. we are joined now by daryl hannah. you know her as hollywood actress but also outspoken environmentalist who strongly opposes the keystone pipeline. so much so she's been arrested i think it's twice during protests during the white house. a few more than two? oh, okay. her most recent work is a documentary that she executive produced. it slams big oil. daryl hannah is here on the set. daryl, welcome to the program. >> thank you very much. i was just going to say that there was a few more presidents that sold fear before this one, and we're still suffering the impacts of that one. stuart: okay.

let's zero in -- >> okay. stuart: let's concentrate on the keystone pipeline. look, i think you are going to lose this one because i think that canadian tar sand oil is going to get out of the ground, and it is going to come to america, either on railroad cars or in a pipeline. i think you're going to lose. >> well, even the canadian tar sands people say that that tar sands oil which by the way is incredibly corrosive substance, it has to be mixed with a lot of toxic chemicals to get it through the pipe, it is not conventional crude, but it is not intended for the united states. it is intended to get down to the gulf of mexico for export. and it says that in their own papers. all they are doing is using us to go through america, not to america, if they can't get it through america, they have no market for their product because they cannot get it to the coast in canada -- canada. stuart: it is to be piped or trucked or railroaded down to refineries in the louisiana and texas area which can handle this heavy crude and then goes out as

gasoline into the american market or the world market. >> well, it will go in the global market. we're already processing some of that tar sands oil in oklahoma. but they can get more a barrel for it if they get it down to the gulf because that's where they do most of the diesel processing. that is mostly exported. if you look at any numbers, you can see that the majority of the oil that they process down in the gulf is for export. they even admit it themselves. this is export oil. they are using us to assume all of the risks for the spills in our fossil nonreplenishing right through the bread basket of our country. stuart: it was changed in nebraska. >> it was changed to go around, but not the -- stuart: it says it will add

little emissions. >> it's been dismissed by every person straight down the line, not every just environmental organization. stuart: it's a study in four years and you are saying the state department is flat out totally wrong? >> flat out totally wrong. stuart: why are they wrong? >> it is one of the most -- >>. stuart: is it a conspiracy? >> quite possibly. when hillary clinton was director of the state department, her lobbyists -- i mean, her deputy campaign advisor is now transcanada's chief lobbyist. what do you think about that? stuart: that's a conspiracy theory? >> it is a conflict of interest in the legal realm it would be called a conflict of interest. but of course government is dealing with these conflicts of interests all the time. stuart: hold on a second. i think it is going to be built. i think this oil is going to come out of the ground and go. let's suppose i'm right that this does happen. what will you do? will you engage in civil

disobedience? >> there's already civil disobedience. stuart: i have one young man outside the white house that says by any means possible we will stop the pipeline. >> there's civil disobedience going on -- every day. right now there's a blockade in canada by the indigenous tribes who say they have no right to cross their lands because they have the legal right to their territory, and so they are stopping the pipeline there. in the most conservative states and the most conservative ranchers and farmers who are having their land taken away, through eminent domain by a foreign corporation, for their own private profit, not for the public good, not to lower our gas prices or provide us with any more oil. you have conservative farmers and ranchers blocking this pipeline, locking themselves down to equipment, doing everything they can to stop it. there was even a young pastor, who is like a teenage pastor in oklahoma who chained himself to the equipment and said no this

will not pass. this has had resistance all the way along. stuart: do you agree with me that that oil is going to come out of the ground and will be used? >> i don't. stuart: do you think it can be stopped? >> i do because trust me, i think the president had every intention to pass this because he's buddy buddy with, you know, all of the oil companies. i mean he was golfing with them the day -- stuart: the president is buddy buddy with the oil companies? >> yes. all politicians are. have you ever heard of citizens united? stuart: that's a conspiracy theory, come on. you're implying energy policy has nothing to do with rational analysis. nothing to do with that whatsoever. nothing to do with supply and demand and price. it's got everything to do with the oil money, that oil dictates energy policy in america. that's your implication. >> i'm saying right now we are resorting to more and more lethal extreme forms of energy

extraction, ones that we cannot afford if we want to survive. you're so interested in the financial -- look at the world bank report, your pals i'm sure world bank they have financed most of these large fossil fuel projects. if you read their own report on the climate crisis that they put out last week, it will be the scariest thing you have ever read. it talks about total systems collapse if we don't get off fossil fuels immediately. stuart: the state department says those tar sands contribute 0.01% of global emissions. >> crumple that paper up and throw it away. it is a piece of garbage. it is not true. stuart: you will always say that. >> that's not true. stuart: is the state department lying? >> in this case, yes. stuart: hold on a second. charles? charles: okay. what do we do without the fossil fuels? without the 10 million jobs in america? without the lower energy bills? without the tax revenue? these methods that you talk about fracking and everything

else have been a good thing for a large part of this country. >> not if you contaminate and destroy our vital life support system. stuart: that's not happened. >> you don't think that fracking is affecting -- stuart: i have property in the area. >> it has not affected your water? stuart: it has not. i live there. i'm part of this debate. >> nevertheless let me answer your question. right now in china where we always go well china is going to pollute -- china's wind power just surpassed their nuclear power. everybody else is surpassing us in terms of clean renewable energy. we have 3 million people in the united states who are already working in the clean energy sector. this is where we need to be putting our energy instead of -- stuart: that's a bogus number daryl. charles: that includes bus drivers. stuart: that's a bus driver that

drives a hybrid bus. you know it. charles: that's a state department number, don't believe it. stuart: i'm sorry. we are flat out of time. >> you need to pay attention to the reality of the situation. read the world bank report. stuart: don't leave just yet otherwise you will block my shot. >> okay. stuart: google is still up. how high and why? nicole? nicole: that was a great interview. let's talk about google, all-time high, traded as high as 838 and change. up to 2%, google all-time high. google won't quit while apple fizzles out. it is unbelievable to watch this name. last july of 2010 it was 430 bucks. unbelievable how it won't quit. stuart: you're right. i'm sorry, we were discussing further with daryl hannah. nicole: she did a good job and very good points and very

succinctly without screaming or yelling. she stayed on topic. stuart: i thought you were talking about me staying on topic. nicole: we know you are great at this. stuart: thank you very much nicole. what a day, new high, never been this before and daryl hannah. okay. it is a theme we hit often on varney & company, the rich fleeing high tax states like california, but it is not just the wealthy that's leaving. we will deal with that next.

stuart: weather to start with, so much for spring being around the corner, must be behind the big weather system that is slamming the midwest. spring is coming after this. people in north dakota digging themselves out of a snowstorm that could make its way to chicago and continues on to washington, d.c. stop drinking, that's the message from the deputy u.s. ambassador to the united nations to the general assembly budget committee. the annual vote of the budget committee is normally a heated debate lasting hours, diplomats who have been in the room say no surprise when delegates in the meeting are visibly drunk. beer and sales up, craft and imported beers helped boost revenues. don't forget this is an all time record high on the dow jones industrial average. that is a rally. ur imptant legas in just minutes.

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aluminum production south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus osummary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. stuart: look at this. it just keeps going up, doesn't it? 14,255. we've blazed past the old closing high, blazed past the intraday high, up 127, 14,255. you know, we often talk -- we're always talking about the rich fleeing high tax states, like california. but according to a new report from the "wall street journal," the rich are also being joined by lower income people. they are leaving too. joining us now is alicia finley with the "wall street journal." okay. can you put some numbers on this, when you're talking about

lower income people leaving the golden state. >> well, the median is about 40,000, earnings for households. the median income in california is about 60,000 so conservatively lower. about 95% earn less than 80 grand a year. stuart: these are the people leaving california? >> these are the people leaving california. stuart: why are they leaving? they aren't subject to the higher tax rates on richer people? >> some of them are in fact. california has extremely progressive tax code. charles: 9.3% over 48,000. it's crazy, it's nuts. stuart: a state income tax that hits 9% when you earn 48,000 bucks. every dollar after that you pay state income tax on 9% on it. that's why they are leaving. >> well that's one -- i don't think it's the direct causation, but it is that combined with the high cost of living.

housing prices are higher in california than anywhere else in the country. you have to consider it has the third highest unemployment rate in the country. stuart: gas is 4.20 i think -- >> 50 to 60 cents higher than anywhere else in the country or most other places. stuart: another thing from your study, it shows that for every two hispanics who leave, there's only one going in to california. is that accurate? >> that's right. stuart: why? >> well, for one, most of the hispanics, immigrants and their descendants are pursuing economic opportunities elsewhere, where there are jobs, namely arizona, texas, even oklahoma, idaho, colorado. stuart: is this a net exodus of people? there's a net outflow of people, higher income, middle income, lower income people out of california? >> there is. actually there's been a net

emigration of high income people recently. that's partly because of the higher income tax in new york. stuart: where are they going? sandra: these are earners, they have jobs and their companies are leaving the state. a lot of technology jobs went to california to austin texas. is this a personal choice or are they following their company? >> i think some of them are following their company. some of these companies are moving into other states and some of them are expanding into other states. and so you have recent college graduates. they find jobs, and they're not based in silicon valley, they're based in austin or maybe even, say, or salt lake city. stuart: just wasn't like this when i first came to america. i mean, everybody went to california. there was a huge flood of people that just kept going and going. that's been reversed. thank you very much for joining us. very interesting stuff. thank you. president obama -- well, i have to tell you first of all,

the dow is now up 125 points, 14,253. what a day. what a day. you're close to the very highest levels of the day, and it is 10:23 eastern. now this, president obama and congress they could not reach a deal on the budget. but that doesn't mean the white house isn't getting things done, important things like laying out policy on cell phones? what? all rise the judge will be next.

stuart: you know, we just have to keep going back to this, i mean read this and smile please. the dow has now never been higher, ever period. 128 points up, 14,255. wait for it. charles payne is here and he will make some more money for you and maybe for me. he's recommending whirlpool. charles: are you familiar with it? stuart: of course i am. charles: by the way, it was a hand washing machine but he knew it could be electrified. they built this company from scratch, great american success story. now a great global economic

play. the fact like these stocks like a whirlpool, at 52 week high, maybe all-time high, but it should be here. their margins have expanded at a record pace. they have momentum coming into this year. they are going to grow all over the world. they are number two in india with less than 5% penetration. a global play. a great american company. i think the stock is going to -- stuart: i remember when i was a child, we had a real hand washing machine. okay? [laughter] stuart: a lot of elbow grease required. charles: exactly. stuart: yes i'm very old and came from an old country. i remember the first tv and refrigerator in the house. charles: did you have a magnifying glass in front of the tv? stuart: you were born and raised in luxury, and you know it. i'm going to move on. [laughter] stuart: we're all happy because the dow is at a record. look at it again.

up 131 points now, close to 14,260. no wonder you are all so happy at my expense. all right. the white house wants to allow you to use your cell phone with whichever wireless carrier you want. right now you have to wait until your contract is up, and you have to buy a new phone to switch wireless plans. all rise, judge napolitano is here. first of all, the big picture, why is the white house getting involved in messing around with cell phone contracts? >> well, that's a political question. my guess is because the president is faring so poorly with persuading the american public that the sky is going to fall if the sequester kicks in so he's happy to jump on a popular bandwagon. it is very popular i would think for people to be able to take cell phones, hardware, and switch it to someone else's software. so that you can use a service provider that works better in an

area to which you travel and perhaps would be more economical for you. stuart: take the situation as of now, i'm locked in. if i come to the end of my wireless carrier contract, i'm locked in. if i want to keep this phone, i have got to stay with that carrier. that's wrong. stuart: there's a bunch of variables here. again, i'm talking about the law. i'm not a technical person, but i know you can't just press a button and switch to another carrier. in some cases you have to change the card. in some cases it is actually impossible to transfer it to another carrier because of the way the hardware was made. but the law requires the hardware to accommodate the services of carriers. for example, could general motors build a car so that its axels could only receive a tire that general motors made? answer, no. it has to have an axle that would receive all commercially available tires. the same is the case with the hardware, the telephone. theoretically, under the law, that telephone must be able to

receive the services of whatever service provider you want smz but it doesn't. -- but it doesn't, because that's what the white house would like to have changed. it would be a good change. it would give us freedom to choose. we could shop around. stuart: it would give price competition, would it not? >> absolutely. but the white house no doubt will attempt to do this on its own, not through a debate in congress and legislation enacted by congress, but by telling of all people, of all people on the planet, the library of congress to change the rules. why the library of congress? because the equipment inside that cell phone is copy righted. and copy rights are managed by the library of congress. the librarian of congress is my former professor of russian cultural history at princeton. it is not a person one would expect to be making these decisions but that authority is in him. a brilliant human being who

loves freedom. stuart: you are in favor of a change in the law but not the way the president proposes to do it? >> yes, right now we sign up for contracts. the telecom has to have a contract. they have to know you are going to use that for two years. if you change that every month or so, no one will give you the service because they won't sell you the service. it would cost them too much and would cost you too much. sandra: the unintended consequences of government intervention and i'm picturing a lot of theft -- >> theft of what? sandra: you can steal these devices and then switch services, you're going to all of a sudden have people snatching them on the subway because they know they can hang on to these until the service runs out. >> i don't know if your device will allow you to change. a lot of them won't. it depends upon the hardware that's in there. but under the law, it should enable you to change to another carrier whenever that carrier will take you. stuart: judge, i can barely turn it on. >> sorry stuart. sandra: oh, stuart.

stuart: this is very serious. hold on. it's a story a lot of people are talking about, the elderly woman, she died because her care giver refused to give her cpr. at the story, contract law, perhaps fear of litigation. all star trial lawyer mark lanier is next. we will get his reaction to this after the break. investor. yeah, i'm a serious investor but i'm a busy guy. it used to be easier but now there are more choices than ever. i want to know exactly what i am investing in. i want to know exactly how much i'm paying. i want to use the sa stuff the big guys use. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock.

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stuart: we've got to keep checking this because it is history making. look at this, 29 of the 30 dow stocks are up. only one is down. that would be coca-cola. and the dow is up 131. never ever been at this level before. stand up and smile, everybody. all right, nicole, let's bring you in, because you have had a big week. we have got this all-time high for the dow industrials. i want to show the viewers this from yesterday. this is you, video of you getting your greek american woman of the year award. nicole: oh, how nice, that is very nice of you guys to play that. thank you. it was very fun, and it was a great community thing. and we got nice letters from state assemblymen, mayor bloomberg, the new mayor of new york maybe, it was a special

event. a big ballroom, over 250 people. thank you for showing that. i appreciate it. stuart: i think it is great to see you speaking without getting paid for it. that's absolutely terrific stuff. [laughter] stuart: nicole congratulations. nicole: thanks, stuart. i'm sorry you weren't there. you were there in spirit, thank you. stuart: i was working. i was getting paid to speak. i want to go to that serious story now. this is the 911 call where you can hear the operator pleading with an employee at a retirement home to perform cpr on a resident who was barely breathing. the worker refused because it was against policy -- policy, listen. stuart: obviously very tough stuff. there's some pushback here. the executive director of the

facility defended the employee and the company's policy. he said quote our practice is to immediately call emergency medical personnel for assistance and to wait with the individual needing attention until such personnel arrives. well, mark lanier is here. all right, mark, the woman, the patient, she knew the policy when she moved into the facility. but it looks to me like the fear of lawyers and contract policy interfered with basic humanity here. you wouldn't disagree with that, would you? >> i would agree with you, but i would do it probably in the opposite way that you mean. i take this very seriously. this is a situation where there is no legal remedy. you cannot sue that facility, and you cannot sue that nurse for failing to give cpr. there is no legal remedy. and the fact that there was no legal remedy is what allowed them to be so callous with this woman's life. if the lawyers could be involved, and i could hold them accountable, you darn sure know they would have given cpr. stuart: it is the fear of the lawsuit that interfered here

with the humanity of the woman saying no, no, i can't give cpr. >> it is the exact opposite. that woman knew she was protected and could not be sued. that's why she didn't give cpr. you let the lawyers in where they could bring a lawsuit in that case, and that woman would have given cpr. but there is no lawsuit. stuart: can anybody sue here? for example, the lady who died, her family, can they sue on the grounds that even though they signed the contract and knew the terms, somebody stood by and did not help her, can she sue? >> absolutely not. does not have a lawsuit. stuart: why not? >> because it was contracted away and california law won't allow you to bring a suit for that. stuart: can the woman who refused to give cpr, the employee, can she sue, for example, for emotional distress because she was forced by this policy to stand by and watch a woman die? >> no, and now i'm bringing it back where i agreed with you at the start. if lawsuits were allowed for things like this, that woman

might still be alive today. she at least would have gotten cpr, but when you keep the lawyers out, then people can have such a callous reckless disregard for the value of life, this something like this happens. stuart: very interesting case, mark. look, i'm not laughing here, i'm just saying that's the direct opposite of the way i felt about this story when i first came into it. >> it's a frustration, and can i say one more thing, just short? stuart: go. >> i regret that we are at a point in this country where so many people don't regard the value of human life, and the value of human life, whether it's in an unborn child or whether it's in an 86-year-old geriatric grandmother should be esteemed much more highly than this. stuart: i'm sorry, mark, but it is you lawyers because we're scared of you. we're scared of making a wrong move, scared of making a mistake and we will be sued for trying to do the right thing. >> no -- stuart: we're scared of you. >> stuart, there is a good samaritan policy in the law, that says if you're an innocent bystander and you see someone suffering and you offer good

samaritan aid, the gospel of luke, if you offer good samaritan aid and you mess up, you can't be sued for that. you're absolutely protected. stuart: i will give you another personal example. the other morning i was coming into the studio, very very early. it was literally quarter of 4:00 in the morning. young lad standing outside, i think he was drunk, and he was -- looked like he was in trouble. it was raining. i thought to myself i should help this kid. i should put my arm around him and say do you want some help? i will give you ten bucks. you want a cab. i will help you. but i didn't. you know why? i really felt if i approach this kid, maybe i'm involving myself in a legal situation and i lose. now, that's a shameful thing for me to admit to, quite frankly, but i did it. >> number one, you could never have been sued for that. stuart: i didn't know that. >> i'm telling you. number two, if you ever get sued over anything frivolous like that, you call me. free legal services. [laughter] stuart: you know what i mean, don't you, mark?

you know where i'm coming from. >> but the other side of the coin, it's a two-sided coin. that's all i want to say. the other side of the coin is when you know you can't get sued, then you are allowed to be callous and reckless in your behavior. stuart: it is a good point. very good point. >> you have had a great show this morning. stuart: only because you are on it. >> no, this has been a fantastic show. people who don't watch this show are missing good tv. stuart: look at this, the dow jones average is now up almost 140 points. he just keeps going -- it just keeps going up, doesn't it? the nasdaq composite hit the highest level since november of 2000. sandra: no hesitation hitting the high, charles, it has gone straight through there. stuart: it has been a great show, hasn't it? [laughter] stuart: all right, everybody, got to go. back in a moment.

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so has gas a little. $3.73 for regular now the average. down a penny overnight. 4 cents in the past week. martha stewart, another legal mess. she took the stand today in a courtroom. macy's sued her company saying it breached a contract when it signed a deal with jc penney. my take on the rally and it is a big rally, next. distinct shouti] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪

stuart: so whose rally is this?

who is primarily responsible for pushing stock prices back to their old all-time highs and beyond? here's my take: there are two -- really two candidates, ben and barack. i say it is ben bernanke's rally. that's what i say. first let me spell out why it is not barack obama's rally. the president's policies, economic policies have failed to produce the growth and prosperity that we associate with big stock market gains. in the 50 months that he's been in the white house, economic growth has been a measly 2% a year. recently it's been much lower than that. the debt's exploding. unemployment has not been as high for so long in three generations. that is not the foundation for a dow record. so why am i calling it ben's rally? because he's been printing trillions of dollars. and some of that cash has found its way into stocks. also, that cash gusher has pushed interest rates way down. you buy a bond or a bank cd, and

your reward, close to 0. you're being pushed into stocks because you are chasing a decent reward. it is ben bernanke's rally. but here's the problem, what happens when he quits printing? you think stocks would hold their high ground if he turns off the printing presses and a bond starts paying you 5 or 6 percent? are you going to stay in stocks and not go to bonds? of course you will. let's not spoil the fun. enjoy ben's rally while it lasts.

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stuart: i'm not a fan of led lightbulbs to say the least. i will stick to the good old incandescents as long as i possibly can, but the president has called these leds the future of lighting. joining the company is the chief executive officer of the lighting maker cree. chuck, welcome to the program. >> well, thanks for having me. stuart: okay. at risk of giving you a three minute commercial, let me have a go at you. number one, you have a bulb here that costs less than $10 and it is led. sell it to me. >> that's correct. so like most people you are skeptical to start with. we made a lightbulb that looks just like a regular lightbulb. if you walk in the store, you are willing to try it. second, it works like a lightbulb but better. you screw this in to where you

have your 60 watt incandescent today and i bet you you can't tell the difference. stuart: i don't like the quality of the light i get from these l.e.d.. what's different about yours? >> we found a way to put the l.e.d. in the center of the bulb and make it like a filament. we have created a filament style l.e.d. lightbulb. if you put this right next to a lamp with a 60 watt, you won't be able to tell the difference. i have done it myself. stuart: can i use a dimmer? >> designed to work with all the traditional dimmers you can go out and buy in the store today. stuart: how much for that one? >> we have a 40 and 60 watt. the 40 watt just under $10. this is just over $20 -- this is just over $12. stuart: still far more expensive. >> ten year warranty, pays for itself in the first year. stuart: what's the energy saving? >> 9 1/2 watts versus 60 watt incandescent. think about this, if you take this in one of your high use, you will spend 14 1/2 dollars in

a year. stuart: i know what you are going to say. why does the government have to push me around to get into these l.e.d.s, is that what you were going to say, charles? charles: i was going to say this, but listen, do they go past 60, 75 watts. in my bedroom, i can't see. i cannot read. can you go to 120 watts on these things? >> so we just introduced 40 and 60. the technology is possible to go up to higher wattage. charles: right now i have got them all over the bedroom. i can't read at night when i'm in the bed. i want to get like a flood light. >> most lightbulbs in people's houses, 5 billion in the u.s., over 4 billion are incandescents and most of them are 60 and 40 watts. stuart: chuck, i want you to look at the screen. your stock is up 14%. do you see what i have done for you? >> i really appreciate that. stuart: are you going to leave that bulb with me so i can try it? >> i'm going to leave this with

you and want you to take it home and put it in and tell me it works like a regular lightbulb. >> is it made in america? >> we are making this in the u.s., jobs in the u.s. stuart: that was a three minute commercial. >> i appreciate it. stuart: 14% on your stock, i mean what a guy. chuck, great pleasure, thanks very much for being with us. >> thanks for having me. stuart: great day, dow is up 153 and the highlight reel is next. friday night, buddy.

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