>> it's may day. and a socialist holiday which we do not celebrate. good morning, everyone, no, we celebrate capitalism and again today there is something to celebrate. wall street still on a tear. however, we've got a truly terrible jobs report and that's dealt a serious blow to the wealth creation machine this morning. and look at this, the american dream fading for middle america. the home ownership rates sinks to the lowest level since 1995. and there's apple borrowing money to avoid high taxes. its bonds pay nice rates to the big guys and what do you get? "varney & company" about to begin. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining yourustomized charts with leading-edge analysis tools from recognia

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>> hello, everyone, it's the socialist holiday known a may

day. watch your screen and see your red flag of socialism as they fill the streets of europe. the tear gas is flying. these protests are for austerity, in greece public transportation had a stand still and bus and ferry workers are off the job. in spain, the rate is 27%, and unions are calling on all workers to demonstrate all across the country. it's a may day in europe. may day in america, that means snow for some people. from the great plains to the rockies, several inches and record low temperatures for some parts of the country. i do not wish to be sarcastic, but where are the global warmers this may day morning. now this, we don't often show charts on "varney & company," it isn't our style. this is hard to ignore, a double sign for the american dream. fewer families buying homes. home ownership now at the lowest level since 1995. and only 65% own the home in which they live. so, who is doing all the buying?

it is the investor. buy the house, rent it out. and a lot more on that coming up in our next hour. and by the way, we all know how i feel about tattoo, i hate them. and some are paying if they get a tattoo of the company logo. first, we'll deal with serious stuff, we're going to watch the market for you and we're watching your money. record close for the s&p 500, the dow is up five consecutive months. can this rally hold? the opening bell is next. can your hearing aid do this?

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you'll also get a free informational dvd and brochure. why wait? hear today what a little lyric can do for you. get the hearing aid that can. lyric from phonak. lyric can. >> here comes the opening bell this wednesday morning after a couple of record highs recently, we're actually looking for a drop on the dow in the very early going of maybe 40 points. and let's bring in larry levin from chicago. i've got to hit you with this jobs number, we have got this morning, only 119,000 private sector jobs last month. and i'm calling that terrible, and another example of maybe another spring swoon for the economy. what do you say? >> i would agree with that. in fact, i missed the expectations, they're looking for 150,000, 119,000, not really that close, is that a preview of what we're going to see on

friday? it may very well. adp has been wrong as often as right. certainly today's numbers are driving down on the open and open down about 4 points and we've hit records lately and the markets wants to go up and open lower today. >> i want to ask you about apple. they've auctioned off-- well, they issued the bonds yesterday and they get 2.4%. the investors get 2.4% on a 10-year apple bond. i suspect that if i buy that bond today, i don't get 2.4%, i'm the little guy, i get a whole lot less, right? >> if you're not part of the investment banking group, stuart, that you're not going to get that price today. and there was big demands. they were actually able to sell that thing 2 1/2 times if they wanted to, obviously, only sold it for what they're looking to sell and there was huge demand and that's driving the price up today. >> yeah, prices up, yields down as of today. i'll get a lot less than 2.4. larry levin, thank you very much

indeed, sir. all right, the opening bell coming up, 15 seconds and let me fill new on this big background story, which is only 119,000 jobs, private sector jobs last month and the march number revised to 27,000 fewer jobs than first reported. i'm calling that a really, a pretty poor report on the jobs market. and it doesn't look good therefore, for the big number that comes out on friday and that's the overall unemployment rate and jobs report. that's on friday, we'll be watching that, of course. the dow has opened indeed on the down side and we're off 120 points. if you look the at indicators before the opening bell, we would be expecting, 40, maybe 50 points down when we get them off and running. down 30 as of right now. now this from blackberry, the chief there takes aim at apple and says you won't need a tablet five years from now and by the way, there's a big store in london that's sold out of the new blackberry in two hours

flat. so, nicole, what is all-- wrap it up. what's this doing for the stock this morning? >> this is great news for blackberry and dead in the water and yet, we've seen it now, moving higher and higher, and blackberry with an up arrow over at the milken institute. and of course, blackberry hasn't done well with their tablet. remember, they had the play book and that certainly was not competitive to either the ipad or the tablet using the google operating system. however, there's a mixing in the whole thing together and saying, obviously, you're not going to need a tablet. and they're selling out on the blackberry. >> yeah, that's interesting. nicole, thanks indeed. show me the big board again, please, we're right at 14,800, down 39 as we speak. now, a little background here. we've got that terrible jobs report. now, how is that going to play with ben bernanke.

because the federal reserve is meeting today. i suspect that another spring swoon for the economy will convince him that he's got to keep on printing money. that's why you don't have that big a drop at this point for the dow industrials, despite that weakness, clearly weakness in the economy. i want to move on the gas prices, and affects every single day, and regular jumped more than a penny overnight. and i suspect that we might be on a new up trend. self-service gas now 3.52. may be head today close on $4 by the summer and i'm not sure about that now, but we're certainly moving up overnight. the highest price in the lower 48 is illinois at 3.94. that's the average there. what's the lowest? it's south carolina at 3.22. we've got sales numbers from ford, up 18% in april, compared to last year. so, that's year on year, up 18% for ford. the fusion, the escape, and the lincoln nkz models, they set

sales records. not much of a move for ford stock, it's up only 5 cents, but i would call that pretty good news from ford. a little sarcasm here. attention, comrades, it's the socialist holiday known as may day. the europeans are in the streets protesting austerity. and in greece, public transportation is at a stand still, freight workers, they're off the job this morning. let's bring in the author of "the death of wealth", glenn before we get to the socialist europeans, i know you've got a british accent, i'm not being nasty to you, by the way, and i want to talk about the adp report, and what's your characterization, i'm calling it terrible. >> it's not great, is it? it's not good, but then, i mean, bad news is good news these days because everybody thinks that bad news means there's going to be more money dished out and people like money being dished out even if it's against the long-term interest.

stuart: but it's more confirmation that we've got another swoon for the economy in the spring. i think this is the third year in a row, but as you said, that means ben keeps on printing. >> yeah, well, printing is going to happen one way or the other because at some point, if people won't buy the bonds, they're going to have to print money to buy them back in cash. whether they keep doing qe or twisting or monetizing, it's all about cash, that's a long-term thing and people worry about what that's going to do with their wealth and we know what it does. a transfer from wealth into the public sector. stuart: now, tell me about europe. they're all marching around, it's may day and they're protesting against austerity. i've got the feeling that the austerity's losing its steam. and they're certainly losing its popularity and maybe europe's going to turn around and start printing some money. how do you see it? >> well, they are printing money. they're printing money in europe and they're printing money in london, but what you have to

understand, these people that are demonstrating, are in the public sector, not the private sector and this is really just a discussion between the public sector and the private. they take it and spend it on non-joc non-jobs. and they've got non-jobs and they're protesting tactful the tactf tactffactactfufact they might h the money trail. stuart: do you think that's going to come over here? >> i think there will be an element of that, the sequester is going to drop the ax on a lot of people that have public sector jobs that might not be so necessary. really, the first people that go up in arms about these cuts are probably the first people that actually don't have a job, so it will be interesting to see what happens and who is going to complain about austerity in america. stuart: i just don't see the people who represent austerity in america, maybe the bowles-simpson people who want

cutbacks in tax reforms, i think they're losing the argument. in america, i think the trend is the other way, it's in favor of more spending and more printing. that's the argument at the moment. that's the trend. have you seen it? >> i agree, austerity as it's put in a lot of europe, particularly in britain, they have been talking about austerity and not been doing it. in america they say that would be bad, but when you think the only way to get debt down is to run with inflation. the only way to get inflation is to print money and if you don't print money there is debt over your head and if you make money soft then all of a sudden your money is soft money debt and it's not a bad picture. the push has got to be to make your debt into soft money and do you that by printing. stuart: so wrap tit up. you see it rally with what you're talking about. >> absolutely, when the money starts coming out of bonds because they're scared of rising interest rates, then they will motor. stuart: you've got it. cliff, thanks for joining us,

sir, appreciate it. >> thank you. stuart: to nicole, humana, it made more money, but is the company worried about obamacare? what's that. nicole: okay, there's the near term for 2013 and then there's the longer term for 2014. right now, we're seeing humana up almost 5%. and the good news, as you noted they make money. we saw their earnings surge, they doubled their profit and raised their view for this year, 2013, great news and then there's 2014 where there's uncertainty and that's what they're saying for the outlook, and lower u.s. government rates for private medicare insurance go into effect. so, there is, obviously, some nervousness about 2014. stuart: yeah, i don't want to digress too much, but if you look at the adp numbers, small businesses not hiring because they see obamacare coming down the pipe and that's holding back hiring in the small business sector. enough of that, move on to merck. i think that is the biggest drag on the dow. nicole: right, yesterday we saw pfizer and today we see merck.

merck is worth 50 negative dow points, out with their quarterly numbers, down 4.1% right now. stuart: wrap it up and we've got the dow down about 60 points in the early going this wednesday morning, but we are coming off, what is it? five straight months of gains for stocks. a record high in the s&p 500 yesterday and a move up for the dow as well so we're coming down a little, 55 off at this moment. all right, everybody. take a look at this man, retired cop joseph derico. he's in a reality tv show. here is the question. does he look disabled? according to the state of new jersey he is disabled. you won't believe how much he's getting in benefits because of that disability. that story is coming up in our next hour. and time for the 7 early movers i've got them. lower profit, but better than expected at bankrate and that stock is up. and that's a rally. strong outlook for the real estate website, trullia.

and it's up nearly $4. that would be 19%-- 13%, i'm sorry, good gain. telecom chip maker mine speed has hired morgan stanley to explore strategic options, maybe it's for sale. is that 34%? that's a big gain, big gain. better than expected profit at genworth financial and it's up nicely. outback steakhouse, the parent there, is blooming brands, raised the profit outlook, but the stock is down 1%. i can't read the monitor, too far away, and you can't get it-- maybe i need glasses, everybody. western union showing initial signs of success and western union is up 1.6%. thank you very much, i hear it. and we get facebook after the bell today. what's it doing now? down 16 cents, that's .58%. back to the big board, we're off 50 points in the very early

going this wednesday morning. time is money. 30 seconds' worth. austerity is bad for your health, makes you sick, depressed. dr. ablow will join us. is the world going soft or am i just being too harsh? and another only in california story. sacramento facing a pension crisis, but uses a quarter billion of money it does not have to keep a losing basketball team in that town. it's a move that hurts the city and the players. i will explain. and the fda lowers the age for the morning after pill. now a 15-year-old can get it over-the-counter, no parental permission required. the judge -- the judge is going to be here. i'll leave it at that. check the price of oil because we are down today and this may make a big deal for the future price of gas. i thought we might get close to $4 a gallon this summer, but with oil backing off $2 a

barrel, that's probably not going to happen. maybe stay around 3.50, 3.60 for the near term on gas. we've got another day, more troubling headlines for obamacare. the foremost critic of obamacare will join us with this one, what's it going to cost in obamacare payments when i when immigration reform goes through? understand my charts, and spend more time trading. eir quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." why are 8 million people sleeping better tonight?

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tell your doctor if you have a heart condition or high blood pressure before taking it. with copd, i thought i'd miss our family trition. now symbicort significantly improves my lung nction, starting within 5 minutes. and that makes a difference in my breathing. today, we're ready for whaver swims our way. ask your doctor aut symbicort. i got my first prescription free. call or cck to learn more. [ male announcer ] if you n't afrd your medication, astrazeneca may be able to help. >> the markets coming back and bad news on jobs, centers now on 60, now only 35. maybe ben keeps printing no matter what happens to the economy. here are your obamacare headlines. number one, a fox news poll shows 54% would repeal obamacare. number two, 42% are unaware that obamacare is actually in place. and then, president obama said this. >> even if we do everything perfectly, there'll still be,

you know, glitches and bumps. stuart: he admits to bumps that's the third headline and then we've got this one $100 million how much the immigration bill would add to obamacare. and you've got that number, i've read that number from you, $100 billion. how do you explain how you come up with $100 billion. >> the obamacare provides that legal immigrants coming in with green cards, permanent residents are eligible for the obamacare subsidies on the exchanges from the day they arrive and half of them will be below what they call the 138% federal poverty line and they will be eligible for the maximum subsidy for their premiums as well as co-pays and deductibles, that adds up to $9,000 per enrollee

and the pace of legal immigration with green cards is going to at least double under this new immigration bill, which you brought with me. stuart: which you brought with you. >> 100 billion additional cost for the ever increasing cost of obamacare. stuart: extraordinary. look, i'm running out of time, but i've got to get that one in. president obama at the that news conference, said that 85% of the american public not affected by obamacare. >> well, he was lying through his teeth because of course, the 25-- >> strong words. when you apply that to the president of the united states. >> strong words, but of course 25 million people who are in the individual market, we are told, will see double digit increases in their insurance premiums. and people who get on the job coverage where most americans get it, somewhere between 7 million and 30 million of them, will lose their on the job coverage, this congressional budget offers says 7 million and mackenzie and company estimates a far higher number and we also know about 3 million people will

have their hours cut according to the adp institute and others, and the 50 million people on medicare will see he the quality of their care, the availability of their care plummet because the obama health law, over half of it is paid for with cuts to medicare. so, of course, that adds up to well over 100 million people, not the tiny number that the president used in his press conference. stuart: you're killing me here. all right. last one-- >> so, a bump, a glitch, in the lie. stuart: the adp organization came out this morning and said only 119,000 private sector jobs created in the month of april. small business in particular is not hiring rapidly. and that, they say, may be because of obamacare. you want to explain it. >> that's well ahead of the curve on this. watching employer behavior as a result of the threatening provisions in the obama health law. and they pointed out two things, one is that many employers will

want to stay below the 50 number, because only employers with 50 or more full-time or full-time and public workers have to offer the mandated coverage and they also pointed out that health care retail sales of all sorts, and service industries will be most affected because the cost of offering this package is so big, compared to what people are paid in those industries. stuart: three headlines, three more headlines from betsy mccoy. appreciate it. time for the gold report. the dow is down 50. where is gold, down 22 an ounce, quite a move on gold. another example of our entitlement nation. a worker says that illegal immigrants got food stamps by the van load and he was told to keep quiet about it. this is not a new development. you won't believe how long it's been going on. this is red meat for charles payne. he's fired up this wednesday morning and he's here. ♪

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. stuart: a former food stamps

case worker told that the immigrants would show up by the van load and he would be required to give them food stamps. and management knew very well they were illegal. and some would tell their illegal relatives to come get food stamps. and charles payne is with us. charles: it's outrageous, we've got the immigration debate going on right now and on one side i hear people saying, these are the people that pick your food and do this and do that, they deserve all of this. you don't hear people talk about the 22 billion dollars in welfare and the hospitals and educating the kids and innoculating kids and it's an enormous strain. i don't see how you can have a country with pourous borders and people coming in and literally being into the country illegally and you're he entitled to the piece of the action. i got up at 5:00, i don't want everyone having a piece of my

action. stuart: it's all about voting, isn't it? if you say you can't have this, those people will vote for the party which will give it back to them. isn't that the truth. charles: that's the truth. stuart: and the supreme court of the united states says, if you're here, you are entitled, regardless of your immigration status. you can be an illegal, from mars, it doesn't matter. you can get food stamps. charles: it came from a good place, the statue of liberty, bring us your tired, your poor. it's a flat-out abuse of the system and it's bankrupting the country. if there's a party out there, both parties at this point, saying okay, we'll do anything to get those votes, even if it means sinking us further into debt and despair, a pox on both houses. it's may day, i'm already pissed off. workers in the world uniting. >> and these are people not

uniting, may day. stuart: plenty of new headlines on a new hour of "varney & company." austerity making us sick, stressed, are we getting too soft? dr. ablow is here. and the reality tv, chasing the bad guys and he's collecting disability. and the american dream is fading, if it's not families buying home, who is? all of that and more next. ♪ [ lighter flicking ] [ male announcer ] you've reached the age

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how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪

stuart: it is they want. they day. the day that socialist take to the street. doctor ablow gets inside. the morning after pill for 15 girls and up, no prescription. here comes the judge. we have to shake your head stories. a 15% raise if you get a company logo tattoo. we have it all this hour. it starts now. ♪ stuart: we have a reading of

50.7 on a manufacturing indicator. many expect bernanke will keep on printing. that comes on top of a bad read on the jobs market. wrap it all up, charles. charles: here is the interesting thing, that we find ourselves finding what will save america. this just is not good. speak to the market back a little. charles: he has been printing. stuart: he will not quit.

i will get you off the hook, charles. general motors sales figures up 11%. that is year over year. ford was up 18%. now to nicole petallides. we have t-mobile. nicole: finally. finally. let's take a look at what is happening to the stock. it is up about 5%. if you are putting in pcf, you will still get t-mobile. the combination makes a strong one. stuart: if i have verizon or

at&t, why should i switch to t-mobile? nicole: i like that. that is a good question. stuart: the dow is now down. a weak economy means he will keep renting money. charles: i am not saying that is wrong. they are not looking at the fact that these companies are making their money. stuart: we have general motors stock on the screen. it is that $30 a share. sold out home ownership. it is now at the lowest level since 1995. only 65% of people on the home

in which they live. that is down from 69% in 2009 it raises an obvious question. who is doing the buying? the answer is investors are buying single-family homes in america and then they are renting them out. what do you have to say on renting, charles? charles: it is heartbreaking. we have dropped out of the notion of getting married, having kids, going to work. home ownership, it is remarkable. there were seven markets where the house prices is up year over year, but month over month, five of those were in the west. think about that.

you have to go back to depression area levels. investors are buying them in bulk. stuart: if you are an ordinary regular guy, you have to have 20% down. you really do. charles: is no doubt about that. people have given up on the american dream. most people got rid of their credit cards. people have extra cash. they are depressed.

they are living in the moment. they have lost belief. it is an american tragedy. it is cheaper to own than to rent. stuart: and at people are renting. charles: people are still scarred. stuart: it is the classic american dream. charles: absolutely. stuart: it is made day. protest getting violent and greece. in this country, we have new research. austerity measures have there been up this suicide rates and depression rates. are we getting kind of soft?

dr. keith ablow joins us now. look, i lost my job. i am stressed. give me money. am i being too harsh? >> i think you are being harsh in regards to the folks that are truly depressed. they need help. boy, do i have a bone to pick with the folks that issued this. it is causing all these ills that plague america. no. of course, we withdraw the drug of entitlements, people feel the pain. that is true with any drug. the problem was the entitlements the fictional drug supply of free money, falsely low interest rates, home ownership brushed among people when they could not

afford it. our mental health care system is a joke. it also costs a lot. stuart: are you saying that america has changed? that america has shifted? it is entitlement that is making us stressed and depressed. do you think the opposite which is generally happy people are people who are self-sufficient. we are losing the battle, doctor. >> the truth always wins. we just have to wait, be vigilant and be affected. the horror of president obama's plans are now apparent. when you and pencils people and suggest to them that they need

not rely on themselves and there will be another handout for them because they are not effective, that is the message. you can rebuild your self. we happen to have the resources to do that if we happen to do it in a smart fashion, which we are not. stuart: thank you, doctor. >> take you, stuart. be well, my friend. stuart: people who want to legalize marijuana say it will help generalize taxes. we are talking about if there are any real financial benefits

of legalizing marijuana. back to nicole petallides. nicole: trulia came out with numbers. their revenue nearly doubled. how about that outlook? they boosted that also. that guidance is looking good. analysts are saying that there is room to run. they have outperformed overweight and five. stuart: i do not believe it until charles payne says it will go straight up. charles: we are in the rival

zillow. [ laughter ] charles: it is up about 150% since we talked about it. stuart: now he tells me. thank you, charles. sacramento. big deficit, big pension crisis. still, the city shelled out a quarter million dollars to keep a losing basketball team in the city. the city and the players get her. i will next. ♪ it's a brand new start.

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♪ stuart: we have the s&p 500. it is a new all-time high at the close yesterday. the dow has been up for five consecutive months. right now, i have to tell you, the dow is down. two stories from blackberry. there will be no need to own a tablet in five years. the new blackberry flew off the shelves at that very thick store in london. sold out in two hours. blackberry stock, though, down. netflix losing a lot of movies and may. more than 1700 titles from its streaming library will be gone by the end of this month. licensing just expired.

coming up, my take on california and basketball. ♪

♪ stuart: look at general motors stopped for a second. it has now hit $31 a share. year over year sales were up 11%. did you know that cadillac is now the fastest growing trend in the auto industry? time for charles to make you

some money with a very interesting company. it is called open table. charles: whenever you try to make a reservation, a lot of times this is the website they use. the business model is essentially you make a reservation through them. the restaurant will pay them a certain fee. they also get some listing fees as well. the bigger they get, the more important they come. it is a virtual cycle. a restaurant that is not in the mix is compelled to get in the mix. everyone is going to open table and you are not in there, then you lose out.

right now, there is no competition. stuart: open table. charles: the stock symbol is open. stuart: thank you very much. only in california. yes, we have another classic example of big-city politics. here is my take on the sacramento kings. that is a basketball team. [ laughter ] stuart: the cities there is a former nba star. he chipped in $258 million of taxpayer money to build a new stadium and keep the team in his city. that is money that sacramento does not have. they have a pension basis and eight deficit. the bear will give up a quarter

billion to keep the losing team in town. you wonder why california has financial problems. now look at it from the point of the visual of the players. the mayor is forcing the players to pay the highest taxes in the land. if they were allowed to move to seattle, the rate would be 43%. i would suggest there are underlining problems here. california all editions are not addressing them. the pension crisis. why spend a quarter billion on a stadium? taxes. it is california's maxes tax take that makes playing in california a lousy financial deal. it makes it a lousy deal.

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stuart: stocks are a cell of this money.

some bad economic news on jobs, manufacturing and construction jobs. charles: this is really controversial stuff everybody. stuart: the morning after pill. girls 15 and older can get plan b. >> the government changed the rule. government did not change the world by a vote of congress. they change it by the drug administration.

it is in my view reprehensible to suggest that a 15-year-old girl could understand the consequences of the morning after pill. stuart: let's be clear, there is no both in congress and volunteer. this is an order from administration. >> that is where we get into constitutional issues. stuart: i want to talk a little bit more about the value judgments. this is the government coming directly between a parent and a child. allowing the child to make a life-changing decision. i cannot give my kid at school and aspirin without permission.

>> your child cannot buy cigarettes at age 15. your child cannot get a tattoo without parental permission. yet they are preempting all kinds of state law intending to put children yet letting 15-year-old girls by this stuff over-the-counter. there are great advocacy groups out there. sexual freedom without consequences. charles: the president just got a big award from planned parenthood. i remember growing up that there were girls that that so many abortions that the dr. finally said you not have another.

>> the fda may not have the last word on this. this will certainly end up in a courtroom when a state says we will not permit these things to be sold to minors and our state because we are responsible under the constitution for health, safety, welfare and morale eddie. if the congress wants to preempt the field, that is okay. but to say that babies can take this stuff, it will not wash. stuart: what happens if a young girl pics this morning after pill and there are serious negative medical consequences. who does that person sue? >> the fact that the government has made it available does not

relieve the manufacturer of the obligation of producing a safe product. they cannot sue the fda. you can sue the fda to get it to change the rules, but not for damages. the government has written laws that immunizes themselves. stuart: i cannot sue that pressure group that pushed for this? >> no. their first amendment rights are protected. you cannot sue the first amendment commissioners who did this. stuart: all right. this is an emotional story. >> this is the beginning of a story. stuart: to call petallides. merck, the big drug company.

nicole: negative dow points, from merck. what we saw for the quarter were weaker quarterly sales. they are lowering their expectations for the year 2013. they face intense competition. here is the good news. the good news is that the prospects remained strong. they are hiring for sales representatives and they are bringing more drugs to market. they are trying to boost up those sales. stuart: thank you very much. we follow the marijuana business very close on this program. we had cheech and chong on the program just last week.

coming up, someone who says that is not the case. find out why colorado and only break even on legal pot. ♪ change makes people nervous.

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increase in the united states could an increase of nearly 7 billion barrels. let's go to the stock market and the new york stock exchange. john, thank you for joining us. >> glad to be here, stuart. stuart: i want you to sell me. if i am with at&t at&t or verizon, convinced me i should come over to your side of the fence. >> there are a number of reasons you should come over to t-mobile. do you know that in march, more customers chose t-mobile and

at&t or verizon. that data is about to come out. if you use any of these devices, as you probably do, to give you an example, this devise polls about three gigabytes of data on an unlimited plan. the average device gives you two. rate plans that you can actually understand. i need to know how many lines you want and how much data. i have three prices. fifty, 60 and 70. we have unlimited data. you told me to sell you, stuart. stuart: you are the greatest tv commercial god i have seen in a long time. >> where can i deliver the

phone? stuart: talk to my producer off camera. seriously, thank you very much indeed for joining us. congratulations on the merger. >> i am going to hunt you down, stuart cobb and you will be a proud customer of mine. stuart: thank you very much. support for medical error juana. support for it is at least growing. it is up 4%. it is up from three years ago. with marijuana legal in colorado, you think the state would be in line for a bot more tax revenue. pot legalization may not even pay for it self. how about that. let's explain this. let's bring in jeffrey maier.

legalized pot, at least now, in california, is not a moneymaker. >> i think that is right. when you keep the federal law in place, it hands marijuana. they will still stay in the shadows because the federal law trumps the state law. all of your assets can be seized by the federal government if you come above ground. stuart: take away the problems with the feds. you take that off the board for a second, do you think that legal marijuana would be very profitable for the state? >> it would certainly be profitable if the businesses could come fully above ground.

i think a state like colorado could probably taken 40, $50 million a year. the states that legalize can stop making arrests. they can stop prosecuting people for marijuana. they can realize the budgetary benefit without the tax revenue. stuart: i would have thought that president obama would have been in favor relaxing federal laws or at least saying i will not prosecute at the federal level. i would have thought he would go that way. why hasn't he? >> i think there are lots of groups that are not so sympathetic to marijuana legalization. the white house is very opposed. many police departments are opposed. if obama does that, if he says he will not enforce it, he will give the republicans and issue

on which to criticize him. i think he is kind of stock. stuart: i know you have studied this very closely. i was just wondering if you could give us a timeframe. when do you think we will have fully legal, across the board, buy it where ever you want it, smoke it when you got it, a free go for it across the board, when do we arrived there? >> we are less good at forecasting the future. i kind of expected to happen in my lifetime. i do not think it is in five years or even ten years. stuart: i am inclined to disagree with you. >> i hope you are right. stuart: you are in favor of full legalization? >> oh, absolutely. i am in favor. i am not sure it will happen

right away. stuart: is it full legalization at the federal and state level? >> yes. the total benefit if we fully legalize it at all levels of government. do you think the government should be interfering? stuart: did you factor in exports to your equation. now, i am not joking. we have a nice export market going. >> i think we would probably have some exports just as we have exports of sake wine or beer. we would be competing in a global marketplace.

i do not consume it. what i have read i think that the stuff from the netherlands is probably the best in the marketplace because they have had close to a legal regime for longer than we have. i do not know for sure. stuart: we appreciate you being with us. thank you very much. >> my pleasure. stuart: we have done a commercial for t-mobile. we have done a commercial for dutch marijuana. what else have we done? [ laughter ] charles: smoke weed and talk on your cell phone all day. a great way to celebrate may day. [ laughter ]

charles: that god asked you for the order more than once. i would hire him in a minute if he did not make ten times what i do. stuart: show me the big board for a second. we are down 60 points. we have three negative news items on the economy. the manufacturing report not good. jobs report not good. construction spending down. the federal reserve, bernanke meeting right now. it could be that they see this bad news on the economy and keep on printing. charles and i agree on this, but, nonetheless, that is happening. would you get a tattoo of your companies logo for a 5% pay

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overnight. $3.52 is the average price. oil is way down today. only $90. today is auto sales day. ford sales of 18%. ford fusion, the escape, the lincoln, all set sales records. look at gm. sales of 11% year-to-year. they report that cadillac is the fastest growing brand in the auto industry. general motors touched 31 earlier. isf manufacturing down to 50. lowest reading since december. construction down. construction down. the dow is down. ♪ th ] i've found software that intrigues me. it appears it's an agent of good. ge has wired their medical hardware

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stuart: it is auto sales day. u.s. sales down 1.1%. toyota, the stock has been on a tear recently. charles is going to make us some money. okay. i believe that they make electronic chips that go into solar devices. charles: right. it is a company that started in 1959. they reinvented themselves. i like it from a valuation for. i love the fact that insiders are buying.

i like the fact that a lot of things are going their way. i think this bill will get passed. we will allow the solar companies to become multi- limited partnerships which is happening in the crude oil business and natural gas business. the next leg up i think breaks it out. stuart: 530 now. i hope we are both still alive. [ laughter ] stuart: charles, thank you very much. we have been waiting the entire show. would you be willing to tattoo your companies logo on your body if it meant you get a 15% raise in your pay in return? that is the offer that rapid

realty chief gave to his employee. we have anthony with us right now. can we see that logo again, please. let everyone have a full look at it. one of your employees? >> they can get it any size they want. we have had people put it behind their ear or on their ankle. forty people have done it. i was not expecting it. i got a phone call from one of my agents. he said i am getting a tattoo. i rushed over. he said it is amazing. he wanted to do it because he loved the brand.

when i took pictures and i send it to the staff, a dozen other people said we want to have a tattoo party. it just snowballed. stuart: to you have tattoos? >> i do not. the two would you do it for 15%? charles: no. i am against tattoos. does it make an impact with customers? >> i think there is a lot of turnover in the industry. stuart: you do not think it would put some customers off? the guy has a tattoo. >> i think it is dictation.

especially the type of real estate we practice. it is a lot of rentals. stuart: you have gotten enormous coverage. a lot of people in the tv business picked up right on this. you want publicity. >> we had a competition. it was interesting. we were competing on what the best branding the real estate companies do. stuart: let's talk about home ownership rates. down to 65%. that is the lowest rate since 95. you are part of this. you are a realtor. you sell a lot of your homes to investors who then rent out. you are contributing to this the client. >> i would agree to some extent.

the seller has to sell and the salesperson has to make a living. they cannot really pick and choose who they will sell to. they are renting them out. they use us to buy and they use us to rent. stuart: do think that there is something sad about that? i bought an american single-family home. i was living the american dream. it seems like a lot of people cannot get that dream or they are walking away from the dream the night it is up to the banks. it is just very tight. credit is tight. charles: are you saying that the people that rent from the word rather by? >> absolutely. they just cannot afford to.

stuart: does this guy really look disabled? new jersey says, yes, he is disabled. they are paying out big for it. ♪

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♪ stuart: this man collects nearly $70,000 a year from a police disability pension. books at this video. that is him starring in a reality tv show where he chases down people who owe money and those them down to the ground. any comment on that at all, charles? charles: he has collected $180,000 so far. he was involved in a case where he was alleged to have bought some stolen goods. this is what has people mad. there was an article. i looked at the comments. one guy said this infuriates me. taking away his pension is not

enough. put him in prison. most of these are negative towards the police. this gives disabled cops and firefighters a bad name. what a dirt ball. it is awful. stuart: yes, it is. thank you very much, charles. up next, a very special guest. ♪ we went out and asked people a simple question:

how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer,

one thing that hasn't changed: the official retirement a. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ stuart: we promised you a special guest. her name is sandra smith. you may know her for her frequent appearances on this program. a valued guest indeed. this is her last day. sandra is leaving to have her first child. congratulations. sandra: thank you. stuart: today is the due date. i am due on the date this baby was supposed to arrive. i say all great things take

time. thank you, stuart. stuart: god bless you sandra smith. we love you. sandra: thank you. i love you also. dagen: here is hoping to her going into labor this hour. that is a ratings bonanza right there. connell: oh, please. good morning. i am connell mcshane. dagen: i am dagen mcdowell. today's adp report is not good news for this country. connell: keep printing the money. cme admits high-speed computers give traders the edge in markets. dagen: pro- immigration groups ring in the new month with nationwide rallies to support their calls. douglas holtz again tells us why