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tv   MONEY With Melissa Francis  FOX Business  March 14, 2013 12:00am-1:00am EDT

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advantage of new opportunities that sam sung has been doing. neil: how d they make up for it? with advertising, you have to get the word out, just sort of -- an understood -- something new or not, you have to be vigilant about pushing that image. >> well, i agree they have to get back to basics at apple to some extent. the question is now that steve jobs is gone, was he the wizard behind the magic? neil: i'm beginning to wonder. >> as times go on, he played a bigger role than people admitted. neil: what was the last new thing that he worked on befoe he died? >> everything coming on now he had hands on. they plan five years out. we're reaching the point, two years out, where his magic dust wears out. then what do they do? computers are commodities over time. we are seeing that. apple blazed the trail. neil: so many other things
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beyond that. is that not helping? >> there's an integrated media interns, but samsung has a tremendo number of devices that the new operating system for the phone that will be released will be able to sync with, and it will be with computers, and they are going across vertical. neil: they do cool things themlves, you can copy pictures, they have done things -- samsung spends money on research and development. neil: understood. what that tell you apple dmizs it saying it's silly? >> it shows you the fact that they put money to bear on that. we'll see tomorrow what the phone says, but it delivers on higher expectations. apple's going to be in mre trouble. neil: okay, guys, thank you very much. speaking of all things technology, other issues with bill gates, the second richest man on earth, founder of microsoft, his view of the state
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of charitable giving, that, a special one-on one with the world's second largest man, right here. day tomorrow. david: "money" with melissa francis is next. >> i'm melissa francis and here's what's "oney" tonight. every party has to end. the question is, when? the bulls are throwing a rager on wall street but is it too late for average investors to show up? our market power panel tells you how to make money no matter where the market goes. plus, nothing tastes sweeter than a bailout. uncle sam is ready to come to the rescue of the sugar industry as prices plunge. we have money for ts,ut not white house tours for kids? consumers and taxpayers may have more than a biter pll swallow. we're going to explain. democra lay down their cards on the w budget. forget balance. how about a hefty helping of tax hikes? we'll talk to a ranking member. house budget committee, chris van hollen for reaction. even when they say it is not, it is always about money
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melissa: our top story tonight, there is no stopping the wall street rally. the dow closed at a record high for the 7th day in a row at 14,455. so what are you doing about it? where is your money right now? today's power panel is here with what the average investor should be making of all this lance roberts, chief economistnd ceo of street talk advisors. spencer patton, chief investment officer at steel vine investments. you recognize jonathan hoenig, he is portfolio manager manager at capitalist pig.com and fox news contributor. thanks to all three of you for joining us. lance, let me start with you. the average person is watching this and hearing record, record, record. saying what am i missing? what are they missing? >> well obviously they're
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missing the market going up but there is kind of this assumption that the average investor has been out of the market three years, four years now and now they're just kind of waking up. that is not the case. most people that are invested --. melissa: you don't think so? >> no, it is not. if you look at lot of data, only 20% of the americans are actively involved in the market anyway. the bulk of those are inveed for the most part. they're in the markets. they're participating and, you know the issue really becomes though we have to look at risk here. we've obviously got the fed inducing markets. 85 billion a month. melissa: right. >> driving these market prices higher. that's fine. no problem with that. margin debt is back at levels we haven't seen since 2007. melissa: yeah. >> you have high yield credit, high yield credit yields are athe lowest level on record. which basically means the yield chase and risk is definitely there. so you just want to be more cautious where you go too from here. melissa: jonathan, i'm thinking one in four americans who tapped into their 401(k) to try to pay their bills over this period of time. i'm also thinking about the people who stopped
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contributing to the 401(k) when they saw the market tank becse they got nervous about it. they're waking back up to what is going on and seeing they missed th ride up. what would you tell the people do now? >> get out of the habit making investing all or none decision. your point speaks to that exactly. go back to 2009, 2010. investors obously became very scared and a lot of those individual vestors unfortunately pulled all their money out of the market. we're at all-time highs on the dow. we're starting to see that trickle in. i disagree slightly with our guest. we have seen especially four or five years, come out stocks go into bond and into gold. melissa: i agree. >> market has been up nine days in a row. i think the trend still continues. i see higher prices for stocks despite the run we've had. melissa: spencer do you think the retail investor is on the sideline and what should they be doing? >> i think we see more retail investors in bonds significantly. and there is chu on the
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sidelines. what people need to do is wake up the fact they have lost a lot of purchasing power last fiveears. gasoline is $4 a gallon where it was at two. gold was $750 an ounce. now it is at 1500. they need to get into real assets. buy things like real estate. get invested into agriculture. get into things that will eserve the purchasing power. do not buy the market once it is up nine consecutive days the longest in 16 yes. you will wake up and regret it in the morning. please run and don't make that mistake again here. melissa: lance, is that good advice? that is a good point. you've lost a lot of purchasing power. the fed is just going to keep doing what they're doing. so items is a like that trend could continue. do you agree with that? what advice would you give in light of that? >> i think it is great. actually i agree with both of your guests over the last two points. i call this the taylor swift market because they treat this like a bad relationship. when it doesn't work out bail o at worst time and try to get back in at the top. melissa: yes. >> but the reality i agree
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with bothings look the markets are very extended here. there is risk. you want to buy on corrections. again, agree with jonathan, you don't want to go all out of the market or all-in. it is never good. you can not time the markets. in respect to your second guest, steve is absolutely right, it is about asset allocation. stocks are a fine place to be when all the fundamentals are in place but earnings are deteriorating. risk is high. and people are chasing stocks because they're going up. but look, there is some great places to put money. bond prices have actually declined over last couple months which have given good opportunities in the bbb rated space. there is great opportunity, gold had a great decline over last few months. very, very oversold. this is the most oversold gold has been in last three years. this is good opportunity. melissa: i want to ask each of you in really plain language. if people have money sitting on the sidines right now and they're tching this record day after day after day, would you add money to stocks right here? i'm going through everyone. jonathan, would you start
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first. would yoadd money to start here? >> absolutely, melissa. the best indicator of the market is the market. so i don't believe as the other guestas said, i don't believe you buy on dips, buy on corrections. you never know if the correction is beginning of something more substantial, something more serious. i believe in buying strength. right now, look at stocks, bond and gold unquestionably, stocks is the best asset class to have your money? >> don't buy now. you will regret it if you buy at peaks, you buy on corrections. that is what data in the past shown. buy when things are cheap. don't buy at the very top. melissa: i'm thoroughly confused. lance you will be the deal breaker, the tiebaker. what do you think? >> look the bottom lne is, that markets are very overbought. they are going to pull back at some point. maybe this summer. buy on corrections. buy on weakness. that is when you make the best opportunity. buying now, you're guaranteed in the next three to fou months values will be lower than they are today. melissa: jonathan, you're odd man out now.
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i'll let you have the last word to make your case. >> i mean, idea of buying on corrections, melissa, you go back to 2007. you would have bought all the way down to a 50% correction in the dow. i in fact don't see that now. the market moves in trends. that is the best indicator we have. right now yes, of course the market will go down one day in the future. it will not go up forever. i think it is best asset class you can have. stocks are like sushi. you don't want a bargain. don't want them on sale. buy quality, buy strength. trend tend to persist. melissa: what you learn is something we learn every time there is big stock market crash like what happened in '08. that if you get out at huge crash you're always sorry later so it comes back. we learn that in retrospect. thanks for coming on, we appreciate it. >> thank you. >> moving on to keeping your money safe, u.s. intelligence leaders say cyber attacks are our nation's number one security threat, even more than terrorism and al qaed today the present met with ceo's of some of the biggest
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companies to discuss the criticalmplications but here's the thing. all the recent attacks on banks and web sites have seemed more like inconveniences than anything else. supposedly no one's bank accounts were compromised. we've never seen anything like the dire warnings of water treatment facilities or the like being attacked despite warnings for years. so why is cybersecurity our biggest concern right now? that's what i'm wondering. joining me morgan wright, cybersecurity expert and retired colonel set brick -- cedric layton, retired security risk analyst. gentlemen, thanks for coming on. morgan, let me start with you. >> sure. melissa: this is the supposed to be the biggest threat out there you about as a regular person i never see any evidence of it so it is hard for me to get scared. >> i talked about this before, the government has interest in spreading certain amount of fear and doubt to get policies through to get people to take action. when james clapper came out
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and talked about this, my concern is what he told and what he knows, my concern what we don't kno scope and damage of threats always lag indicators and warns we later get. there may be something on the rise here. the real issue is number about actors, access to technology, the internet is ubiquitous. rather than russia, china, you have defined army and defined enemy you see those things. you have anonymous. "al-quds" force we talked about before. you have all the people out there, china and all their cyber espionage units out the. so the threat proliferates. it doesn't get smaller. melissa: colonel, do you believe that this is the biggest threat right now, bigger than al qaeda? >> actually i do and the reason i believe that, melissa, it is one of the most ubiquitous things we deal with right now. what we deal with is a device and a series of networks that are hooked up to everybody every single person in the united states has some interface with the internet.
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and because of that, it becomes really important for us to secure that network or series of networks and that is why because it touches everybody, everybody too needs to know there are threats out there and they need to know how to behave to counter those threats. melissa: morgan, i don't feel like this ever touches me. this is always the problem i have when talking about cybersecurity. >> right. melissa: for years we've been talking about the potential, you know for terrorists to get in t electric grid and shut down huge cities. to turn off the subway. to contaminate water supply. you never hear about anything like that happening. there are attacking banks yet i haven't lost any money. worst thing that happens you cat get online and check your balance for a short period of time. it doesn't seem like a very terrifying to the average person. >> well, and you know what? that's the, that's the -p50,000 foot view. colonel layton from the air force would understand this analogy. bombing from 50,000 feet. a lot of people don't see the actual impact but talk
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to a construction company in california, december, visit krebs online, great security blog, they lost $900,000 and compromised their sensitive information and took $900,000 out of their account. you won't see denial of service attacks because denial of service attacks are designed to prevent something. the colonel said more devices connected to internet and more than people on earth. for new addressing scheme, you have to have an a address to be on internet, we have ten order of magnitude for more devices. more things to compromise and more people's personal information. i don't want to wait until the mushroom cloud of cyberterrorism hits. what you want to do is get ahead of it and put policies and procedures and training of people in place. melissa: colonel layton, are we doing that? you see ceos goingo the white house to talk to the president. in this country are we ahead the curve or are we behind? >> we're behind right now, melissa.
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morgan points out really good points. he makes great points of the types of tngs we need to do to prepare ourselves. we don't have laws in place to protect us. we don't have laws that protect the infrastructure. that i think is what the president is trying to work with the ceos on because it becomes very --. melissa: like what? what kind of law would protect us here? what law would make a difference? >> well i think the big thing you have to have minimum cybersecurity standards. i know the u.s. chamber of commerce has a different view on this but the basic idea is this. is that you have some minimum standards that evolve as technology evolves. something that the government hasn't really done yet. but they need to get into the business of developing standards that change with the times, that change with technology. and that can be enforced. you don't want to have onerous burdens on business. you want to protect everybody from the possible threats out there. in essence what we're doing we're protecting utility th we have that is known as the internet. melissa: gentlemen, nation for coming on. good stuff. >> thanks, mecal list a,
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again. melissa: turning briefly to the big non-financial news of the day, the world's 1.2 llion catholics have a new pope. argentina's cardinal jorge bergoglio was elected to lead the catholic church. he is the first pope in history elected from the americas. he becomes the first jesuit pope in history. he chosen francesca or francis i as the papal name. he asked the massive crowd in the papal square to pray for him a short time ago. next on "money", how about sugar with the bailout? uncle sam plans to save the day for u.s. sugar industry. yet woe don have money to stop furloughs for meat inspectors. why the government may pour salt in taxpayers wounds. plus the new democrat and paul ryan's budget plan get together like ice cream and ground beef. what wi both sides do to bridge the massive gap?
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chris van hollen of the use budget committee will join us coming up. ♪ . this is $100,000.
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melissa: call it one sweet bailout. the usda made by 400,000 tons of sugar from processors in order to prevent them from defaulting on $862 million in government loa. this by the way, is the sa agency that warned of widespread beef shortages due to a lack of funding just a few weeks ago. and of course the government has been making cuts left and right to do things we quote, n't afford. you know, like air traffic controllers, medical research, publ school teachers, stuff like that but it can drop862 million on sugar. the icing the cake, if the deal goes down the price of sugar is going to shoot up. just about everything eat or drink has some sort oo sugar in it, feel the heat at grocery store. for more i'm joined by the president of the national confectioners association. why is sugar getting a
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bailout? >> because there is crazy u.s. sugar program. one of the last programs left that protects and defends a commodity. these are in the so-called farm bill, it prevents sugar coming into the country, so it protects the sugar growers in the country. it also has a guaranteed price. so if the price gets too low, then the government has to buy it. and put it in warehouse and then eventually sel it. it's crazy. melissa: it is insane. now they are being potentially, this year, they're going to be forced to buy this sugar because what is going on in the sugar industry that it is such a terrible year for sugar? >> in a way it was a good year for sugar because the sugar beat farmers in the midwest and sugarcane farmers had a really good year in terms of production. so there's a lot of sugar on the market. and but the real reason for
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that is this ups and downs of the market, it is not a free market. it is really run by the department of agriculture. so, the secretary of agriculture decides how much sugar can come into this country, which is very little. and all of this is done to protect the growers. melissa: yeah. >> because this program has been around since the depression. melissa: so i can feel people shouting at television right now and saying things like, we do milar things for the corn industry and for the milk industry and for cheese and a lot of this has to do if there's a bad crop one year we don't want sugar farmers to get wiped out so we don't have sugar the next year. how do you respond to all of those arguments? >> first of all there is plenty of suggest far in the world. what there shoulbe is a free market in sugar. i represent the u.s. candy industry. we don't have anybody, nobody is protecting us. nobody is saying, foreign candy and chocolate can't come into this country. you know, we have to compete and we, we need the growers, we need the sugar growers.
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we're not against them. we feel they should ha to compete in the free market like we do and like most businesses in the united states do. melissa: yeah. >> they're very few of these protective commodity programs left. this is one of them. messa: yeah. we were watching peeps go by on the screen. peeps are one of my favorite things in the whole entire world. it is like that time of year. so i'm totally distracted. there are 400,000 tons of sugar that, there they are again. oh, peeps. >> i love peeps too. melissa: like a real problem. anyway, so all this sugar, that the government is going to buy and dump, is enough. we have some fun facts. it is enough to make 142 billion hershey's kisses which my two sons would eat easily. 9.3 billion, 12 ounce cans of coke. 4.7 billion oreo cookies. we're having fun. what happens if the government buys the sugar, what do they do with it? do they take delivery?
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>> it is in a warehouse that is owned by the government now under the 2008 farm bill, that's where the sugar program resides is in the farm bill, they are actually going to have to sell most of that sugar to ethanol producers. melissa: oh, ethal. >> so it is not even, not even going to food. when you look at the confectionery industry we're only 2% of thealories in a person's diet. and other thing about sugar, in a teaspoo of sugar there are only 15 calories. so, you know, moderate amount of sugar is fine in anybody's diet. melissa: don't tell mayor bloomberg that. he will take all the sugar away. >> i know. melissa: we promised folks to tell them ttis, what is theage of average person? if the government is trying to hold the floor on prices what is all this happening this ye to the average person going out to buy candy or buy sugar for their coffee? >> all this stuff takes time. but i think it was iowa state university did a study
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that showed because of sugar program that we have, it costs consumers almost $4 billion a year more because you're right, sugar is in a number of things. it is in ketchup and mayonnaise and salad dressings, that sort of thing. it means consumers will pay more for their food. melissa: larry, tnks for coming on. we appreciate your time have a peep for me. >> thanks for having me, melissa. melissa: our "money" question of the day, should the government bail out the sugar industry? wow, answering the question seems to rile people up. answers range fro no, to no way, to hell no! like us on facebook.com/melissafrcisfox. follow me on twitter @melissaafrancis. revenge is a dish served on oil. why the shale boom is doing ahead. do you have too much money or peeps? no way. ♪ .
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melissa: now on the to oil boom which is having huge impact on opec. eia report that u.s. oil production hit its highest level in 20 years at $7.2 million barrels a day. at the same time estimated demand for opec's crude is the lowest it haseen since 2009. and experts say due to the shale oil boom here at home. are we doing enough to protect ourselves from supply shocks? here to answer that is stephen schork, the energy visionary behind the schork report. always pleasure to have you on the show. >> thanks. great to be here. melissa: steven, you and have been talking about oil for years and years and years. i'm shocked to see this day arrive, that eia says we're insulating ourselves from supply shock with our supply
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oil here at hom isn't that surprising? >> it is quite amazing. comes back down to the old addage in chicks high prices are the -- economicses is best cure for high prices. we innovated, and brought the gas to market can and natural gas, our natural gas is cheapest in the world. 're seeing that take place in the oil markets. it is quite amazi. five years ago, united states was importing 12 1/2 million barrels a day crude oil. today we're importing about 7 1/2 million barrels a day. as you just alluded to, we're producing 7.2. by the end of this year, the united states will be oducing more crude oil an it imports. quite amazing. no one saw this coming just five years ago melissa: no, absolutely. i remember in 2008, when the price of oil was $147 a barrel. i went to saudi arabia for this crisis summit we were having with opec and the u.s. energy secretary to talk about the fact that we had so much demand for oil
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and not enough oil. this was the time we were talking about peak oil. and here as you said, because the price was so high, people were ill willing to go out and innovate and experiment. we came up with idea of shale and fracking and now we have domestic oil. i wonder, are we doing enough now to preserve this and to nuture this revolution so we don't go back? >> well. well the industry has responded to get from where it is alberta, and north dakota to get where it needs to be. we invested rail are cars and transportation for the oil. we redid refineries to for this specific grade of oil. soil. the problem is, and we can just go back to that theory. i never believed there was a peak oil geologically speaking, but government the coil.
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policy people oil. as we can see now with the gains continue to be played with keystone which is such an easy decision to make to g that oil to where it really needs to be, the industry is responding. my concern is the government is not doing enough to take advantage of this unbelievably cheap and abundant resource. melissa: you can see washington responded this point and say, look, production is up. demand for gasoline is down. maybe we don't need keystone. >> well, that is absolutely cuckoo for cocoa puffs kind of thinking on the part of the government. lissa: you're watching this sugar segment we just had. this is oil. >> indeed. and again, the government complained to the markets. absolutely we need to get this policy. we need to get the soil. right now we have a hodgepodge in the industry putting together a makeshift forms into place to get the oil. we do need a significant policy shift to address this issue.
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look. we are on board. right now with the current pace the united states is that with the supply growth and the demand destruction the fuel economy. the switch away from oil to natural gas. demand is falling. supply is rising this point. so there is no reaso. wehould not get the soil. if the government does not address this in the investment is going to go elsewhere. it's going to go to getting the loyal to british columbia to the pacific rim and getting canadian oil we should be coming to the united states, it will be going to china if we do not been serious. melissa: always brilliant. melissa: time now for today's fuel gauge report. natural-gas futures at a new high for the year. a new forecast calling for a cold snap across much of the
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northeast and midwest. raising the a look for natural gas. u.s. stockpiles of natural gas also saw larger than expected drop last week to. and the iranian nuclear powerr3 plant has been taken offline. the plant's power generator is experiencing mechanical problems. that is according to iranian %-the u.s. expected played key role and the potential development of a nuclear weapon. and speaking of iran, the u.s. extended waivers on iranian sanctis 11 countries. the 100 a day extension applies to banks in japan and ten eu countries with ties. in exchange the 11 nations will sharply reduce there imports of iranianil. the new budget plans from democrats and paul ryan may as ll be written in difrent languages. are they far away from a compromise? a ranking member of the house budget committee joins me. that is coming up next.
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the judge put the kaj bosch. not jumping for joy. a top executive for the white castle burger chain is here to explain. pile of "money" coming up. ♪ man: ♪ all in together now
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♪ we can make it better, can we do it? ♪ ♪ we'll rope up chorus: ♪ 'cause we know how to jump ♪ ♪ we'll cut it down ♪ 'cause we know what to eat ♪ announcer: moving a little and eating better every day can help make you and your child healthier. search "we can" to find out more. ♪
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melissa: take that comair bloomberg. a judge overturns new york city mayor michael blumberg's planned ban on large share greece sodas. well he may find that hard to swallow, i say let freedom ring. businesses that would have meant -- would have been impacted have already spent the money preparing for it which could have been spent on jobs, expansion. what has been the real cost to businesses? white castle vice-president jamie richardson joins me now. thank you for coming back to the show. a lot of people had not thought about this. you spend time and money getting ready to comply with this band. tell me about it. how much did you spend and what did you do? >> that's right. we spent countless hours with dozens of people for dozens of weeks. for us the most important thing is the rule of law is a lot of the land. the court overturned the ban. does that is what is most important because that is a victy for new yorkers.
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will we see happening is that that will be upheld by the appellate court, and we think this is a victory because it allows us to keep the jobs we have, over 1,000 jobs in new york city, 29 restaurants. for us this would have been devastating to the business. we even had a customer gets so involved in this issue that he sent in a cup designed that had. ♪ not cops. so here he is. melissa: kid stuff. did you buy smaller cops? ammine did you do things already to get ready for it? we did. we spend thousand dollars getting ready. we have the cubs ready to go in the warehouse. you know, rollout and be there. but does really the most important thing was a victory. understanding that a lot of b ideas have come out of washington, a place like new york city with the beverage ban. it's time to let america get ckn its feet. these bad ideas have done tremendous damage to job creation this time to let them do what we do best, which is provide more opportunity for more people.
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melissa: absolutely. and so many other things that the mayor could be working on. financial problems in the city. you know, things that we could be working on other than trying to make soda smaller. what would it have meant to you ift went through? because obviously, you know, soda is a big part of what is sold in your store. the size makes a difference. because it is the kind of restaurant where people have a smaller ticket. so as a resultf our soda is a bigger percentage of that bill. >> your absolutely right. we have been partners with coca-cola's 1921 and we'll always wanted that as part two of our customers more choices if if you wanted to practice civil disobedience, it only with costas $1 billion per year, so that's billion with the beef. we have no idea how devastating it would have been. we were trying to model that out. the mayor's response was to raise our prices. at didn't seem a logical thing to do which is not good for new yorkers either. we are thrilled with the court's decision.
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melissa: that is not differ yorkers. and that is a typical sort of rich guys solution to this problem. city council speaker kristine quinn said that people who bet on the mayor might bloomberg changing his mind up trouble the losing side of that bet. do you feel like he sort of has you in his sights? and me, you are somne who sells the type of food he does not want receding. you have salts, french fries, everything that is delicious in this world that the mayor hates. >> you know, we're in the restaurant industry,hole industry a problem solvers and would love to have constructive dialogue. we live in the greatest time in history of the world. more knowledge a more reformation. a common sense perspective. melissa: so true. thanks for coming on the show. up next, democrats unveiled
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their grand pn. it is light years apart. is a deal closer than many think? we are joined at the end of the day it is all about "money." and french fries. ♪ this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people o gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur
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♪ melissa: so, it turns out you all went shopping last month. retail sales of over 1% and february. for more on the new behind the numbers let's go to sandra smith has all the details. gas prices have been so high. people are out shopping. >> they were. and the numbers are reflecting that across the board. now that we are getting earnings from some of the major retailers. we first get a glimpse this morning. arguably is what drove these markets to their longest winning streak since 1996. the dow, another update in of a retail sales numbers up over 1% the month of february. this tree was looking for a gain of a half a percent. a big be there. and then it continues in after-hours trading to. we have been a warehouse. this is a big retailer that a lot of folks were looking for to
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report after the bell. they reported very late tonight. the stock getting a huge boost, up 8% in after hours trading, stock that needed a boost. it's down about 7% so far this year. the company said sales were stronger. profits were up. the company actually reporting of very soli report. so the good news on the retailers continues. we will see how things go the next couple of quarters because that is where analysts are saying we will keep watching. >> absolutely. because there are so many headlines right now in the economy. of course, really high unemployment. you know, like we said, gasoline prices are on the rise. higher tax bills for everyone. lot of people are saying th the public in general is just getting tired of not shopping. there is only so long you can make do with the close the you have, especially when you have kids. other pockets of weakness? >> well, down big after the bill tonight.
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investors not repress -- impressed with the report. and maxima the foil handbags, some of the discretionary items of his wealth. some of the bigger retailers are doing so well because they sell gasoline. bigger items are cheaper discounts. the consumer is still looking for this deep discount. by the way, as far as the unemployment level is concerned looking forward to tomorrow. jobless claims expected to come out tomorrow. that number supposed to be 350,000. we are just above of five-year low, so we will be watching that wholesale prices out tomorrow. gasoline is expected to be a big part of that. expected to be up eight tenths of a percent. melissa: like you said, seven record days on the down arrow. what are traders telling you? this is starting to defy gravity
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>> the one thing that really works in favor of the bulls, melissa, as we seem to be finishing near the highs of the session each day that we have these gains. very muted volume, but volume rose throughout the trading session. and it does seem that we have these clauses that are not wild swings in the market, not having triple digit gains and nothing to make anybody panic. small gains, and that certainly is working in favor of the bulls. a lot more economic data. that will be a big reid. you start to look. 14,455. a big gold is to get above 14,000. thank you so much for that report. and coming up on "money," it is not just the perfect hangover food. taco bell doritos taco may just the greatest job creator in america. i love this. don't go anywhere. we will explain why coming up. you can never have too much "money" were too many doritos
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locos tacos. ♪
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melissa: it is time for a little
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fun with spare change. today we are joined by cara and ashley. thank you both for being here. >> thank you for having us. >> thank you. melissa: and anti-bloomberg law. it does the opposite. it begins restaurants from posting calorie cans and limiting porti sizes. just so happens that missiippi is the most obese state in the couny. but shouldn't they be able the what they want? i am confused. >> i feel like they ve gone too far with this band. people in mississippi, we are paying for them in our insurance coverage because they have high risks of diabetes.
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people in miissippi are huge and that is a prblem. >> listen, i lived in tennessee, and they were always the obese state except for mississippi. [laughter] >> i used to live in the ultimate nanny state in england, they tell you what you can and can't do,safety and work standards. so outrageous and so stupid. but it's great because i live in this country now. >> i think it is hysterical that they are banning a calorie count and limiting besides. pretty comical. you say that you are costing
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people money, which is a valid point. so keeping up with the food talk, taco bell is actually a job stimulus. taco bell said they had to hire 15,000 more people just to keep up with demand for the new taco. of feuary, it sold more than 325 million doritos locos tacos. >> why don't we have a fritos tacos? >> i love doritos, but fritos would be better. >> all of that salt? melissa: delicious. the only good news is i have been to taco bell. i don't think you're getting that many caloes because they are so small. they a tiny nowadays. on a serious financial kno
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because this is a serious financial channel and show, it is amazing that a product can be a job creator. they have created so much demand for this product. it is like any time someone comes in, all of a sudden everyone is buying it, whether it was the diaper genie of old order who knows. maybe we should move on. the next topic. more than 300,000 federal workers. they have back taxes to pay. unbelievable. do you think they should have their wages garnished? >> i think they need to have those meter maids. they are the most efficie

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