tv Forbes on FOX FOX Business May 19, 2013 9:00am-9:31am EDT
9:00 am
i like it just fine. i like the index sdy dividend part of the standards and poors. stores are wreck? what did he mean by that. that will do it? >> if you are outraged by the evidence comin out that of the irs was being used as an idea logical enforcer, you may be outraged that some of those responsible for paid bonuses at work with your tax dollars. i am dave asman. what a week. we'll go with moshing an and mike and sabringa and rick. >> rick, this is usually steve forbes job but do you believe that the individuals who skewed up deserve bon us.
9:01 am
>> i feel theeed to talk flat tax. i think the bonus idea is a d idea pticularly as it a ployed to the irs. remember when we have had a situation with private insurance companies and they are bonusi adjustors and paying them to deny claims. i have a similar prlem with irs agents paid to collect more money. i tell you the great surprise. >> or just screw up. >> or screw up. you know who favors bonusing the federal -- the heritage foundation. >> you are an agent of the heritage foundation? >> i have been accused of many. from jes, the senior economist. we should shift t distribution from base pay to bonus. mike, lois learner who was in
9:02 am
charge of the tax exemption got a $42,000 bonus or several bonuses adding up to 42,000. show gave on the a bunch of information that was not true. and her predecessor got bonuses and all told $92 million in bonuses went outo i offials, isn't that wrong? >> you are trying to get us audited on the show today. >> they got your number and mine. i agree with the heritage foundation, in general government employee play should shift to bonus with strict performance metric and they would perform better. as far as the irs, they don't deserve it. >> i am looking around for and kind of metrics in which someone
9:03 am
behaved well and i don't see it. >> we are not in a market and there is not a competiter for those in government and so what are they judged on? on the number of conservative groups that they muzzle? >> i like the make government employees less effective and i don't want tem to be more active. i don't understand how he base $92 million worth of bonuses, that is concerning to me. >> it is not only the cash and bonuses, but getting bumped up. they give awards to the people involved in this. sarah gram hall, and they will talk about this in the next half-hour. she is managing the irs role for obama care. >> i ink we are mixing this up. a now bad eggs that got bonuses. i don't think everyone should
9:04 am
have it axed altogether. there is a plan and a legislation to cap the bonuses. this is slightly dated here. and i think y need to have bonuses in many cases to the governmen are tied to the performance. and you need to have that to be competitive with the private sector. >> but look at the people who got bonuses. first of all mismanagement and whatever it was, they all got bonuses and it was a matter of course here. >> i have to say in the case of miss learner, i have a funny feeling she might be out of work. >> or sarah hall ingram. >> and it is truly extraordinary week sabringa and i have aeed which never understand.
9:05 am
al around bonusing in the federal government doesn't make sense. if they do a bad job get rid of them. >> but sabringa, what bothers me about the whole thing, everythin was a matter of course. this is just the way they did business and of course, the president bumped up sarah hall graham and appointing her as part of the irs obama care role. the social contract between the people who pay taxes and the government has been broken by this scandal. is the president capable of fixing it? >> i think that is the issue here, we have a serious trust issue and the president is trying to distance himself and because it is happening in the walls of the whitete house, tha he is immune from the blame. but the reality is, heets the tone for the sxhrgz the massive
9:06 am
big government and regulatory state, it is his responsibility. he has a lot of healing to do with the american people who say i will not give bonuses to these people. i don't think a burrcrat in cicinnati woke up and said i will go after the tea party group. >> that is an interesting point and stephen miller who was under the grill spoke to this point we have a sound bite where whether it was mismanagement or partisanship. >> i don't believe that partis anship motivated the people engaged in theractices described in the attorney general report. >> this is a definition of partisanship. when you single people out on the basis of their ideology. >> the problem is with big and growing government and
9:07 am
particularly when the president obama of the united states is a fan of big government. this is what you get. you havecandal with benghazi and the less accountability. ngo a head morgan. >> it is not a partisan issue but an issue of political donations and whether the names get revealed. >> i don't care whohe president is under these circumstances, the irs is clearly dysfunctional and lois lernor was promoted under president bush. gang, we have to wrap it at that. and if the irs played politics with these groups, what about enforcing the president's health care law? that's what miclle batch batch
9:08 am
wants to know. new numbers showing that america could throw opec to the curve if it does one thing. something as bold as what jfk did. and how much money it will save you next. >> i believe that this nation should commit itself to achieving the goal before this dede is out of landing a man on the moon and returning him safely to the earth. bny mellon combines investment management & investment servicing, giving us unique insigs which help us tract the industry's brightest minds who create powerful strategies for a country's investments
9:09 am
which are used to build new schools to build more bright minds. invested in e world. bny mellon. but maybe the problem isn'isn't your lawn. introducing the all-wheel-drive mower from husqvarna. we engineered its unique drive system and dual transmission to handle hills& thick grass& and tough terrain& without losing traction opower the all-wheel-drive mower from husqvarna. challenge the impossible. visit us online to enter the challenge the impossible promotion
9:10 am
[ male announcer ] from the way the bristles move to the way they clean, once you try an oral-b deep sweep powebrush, you'll never go back to a regular manual brush. its three cleaning zones with dynamic power bristles reach between teeth with more brush movements to remove up to 100% more plaque than a regular manual brush. and even 76% more plaque than sonicare flexcare in hard to reach areas. oral-b deep sweep 5000 power brush. life opens up when you do. given way to sleeping. tossing and turning have oral-b deep sweep 5000 power brush. where sleepless nights yield to restful sleep, and lunesta eszopiclone can help you get there, like it has for so many people before. do not take lunesta if you are allergic to anything in it. when taking lunesta, don't dre or operate machinery until you feel fully awake. walking, eating, driving or engaging in other activities while asleep without remembering it the next day have been reported. lunesta should not be taken retogether with alcohol. ay abnormal behaviors may include aggressiveness, agitation,
9:11 am
hallucinations or confusion. in depressed patients, worsening of depression, including risk of suicide, may occur. alcohol may increase these risks. allergic reactions such as toue or throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, adache, dizziness and morning drowsiness. ask your doctor if lunesta is right for you. then find out how to get lunesta for as low as $15 at lunesta.com there's a land of restful sleep, we can help you go there, on the wings of lunesta.
9:12 am
see you at 1 o'clock eastern. and bab to forbes on fox. >> a now stunning report. the united states is on track to take on op as the world provider of oil supplies. new reports showing that the areas in the dacottas and montana have twice the oil and gas reserve. the administration is reducing restrictions on fraccing. you say we have to go all in? >> we have to let industry go all in. the mistake is to allow government get involved. the government needs to get out of the way and stop picking winners and losers and let iustry decide where technology and industry goes. that is the surist path to
9:13 am
energy and better environment. >> rick, you can have national goals. remember jfk saying i will put a man on the moon in ten years. we did it. the united states did it and the government was entirely involved in that. but what is the private sector goal? >> i have no objection to taking advantage of the opportunity. we are a world force that is a wonderful thing. ere i get nervous about the all in. there are down sides to this kind of energy. i recognize it will produce jobs and benefit our jobs. but don't lose sight for the long-term. here's what i propose, make it easier for the development of the oil shelves. but in return ask the energy producers to get involved in
9:14 am
developing better s sources of energy. >> rick, i realize, monte hall, let's make a deal. >> somebody out there. >> mike, this is how important this report is. here's what they said. you can't overemphasize this. the supply shock created by a surge in north american oil production will be transformative to the market in the next five years as was the rise of chinese demand in the last 15 years. we have the potential of overtaking opec. >> i agree withth sabringa. get the government out of the ay and unleash the private sector. i don't like the goal of overtaking opec, but what if oil goes back to $17 a barrel. just unleash the private sector,
9:15 am
david, they will do a far bettr job than the government will. we'll see all of the lousy investments and tax on solyndra. >> i do like focusing on opec. since the 1970s, we have been in the beck and call of opec. it is nice to put them as a minor inconvenience than a major inconvenience if our lives. >> it is a gutsy goal. mike hit the nail on the head. unleash the private sector. we are talking about recession years, when you look at that. traditional energy created 500,000 jobs and if government got out of the way, you wld see those numbers go crazy. this is the way of the future.
9:16 am
>> rick, you hear morgan talng. and she's disagreeing with you. >> i don't disagree she is smartest one in the group. but be more secific about getting the government out of the way. are you saying remove the regulations on the oi >> hold on, let morgan explain what you mean by. that >> every time president obama talks about the bad evil oil companies and cutting the tax subsidies, that pushes back against the private companies saying that. >> rick, can can you go that far. we are trying to sell you. >> i see where you are going. you can't totally get government out beuse of the federal land involved that people want to drill. aga i am goingto take you to the grand bargain, you want to open up more federal land, okay. oil companies do something about
9:17 am
producing. >> butold , sabringa there is a fact most significant old and gas discoveries are not on federal lands but state and private lands. i am 0 to let the facts co in an argument here and that's why the federal government is holding up the process through the epa. if they got theepa out of the way for the nonsense regulation, we could beat opec. >> and the fraccing, there is so much alarmism a round this and we are talking about injecting water and food based chemicals. we saw the governor of california drink it. and there is a methodology that is used over decades. we don't want american people to think that the water is
9:18 am
contaminated because of this. that is coming from the white house. >> the chief rhetoricand the winner in the rhetoric against carbon fuels was the head of the energy department and the new guy is more sympathetic to your views. we find progress here. thank you, gang. and should you have to look like this to shop at amber krom bee and fitch. the ceo under fire for thank you orville and wilbur... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: yore history. instead of looking behind...
9:19 am
delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. it's delicious. so now we've turned her toffee into a business. my goal was take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a realality. at legalzoom.com we put the law on your side. to fly home for thehe big family reunion. you must be garth's father? hello. mother. mother! traveling is easy with the venture card because you can fly airline anytime. two words.
9:20 am
9:22 am
>> cool or not cool. bercrombie and fitch ceo mike jeffrey regrets the comment he made to offend anybody. he is not apologizing it. that comment went viral again and so are the protest. what did he say. "in every school there is cool kids and popular kids and not so cool kids. candidly we go after the cool kids a lot of people don't belong and can't belong. they lack large and extra large". and this is classic mean girl behavior, right. but everybody is assuming it is a bad thing. i don't think so. i think everybody wants to be a part of the cool club and be part of the small group. this will boost sales for ambercrombie and among those cool kids.
9:23 am
>> morgan, what do you think will this exclusively good for the company in >> it is a bad marketing. the company is bing off their nose to spite their face. one of the underserved market system plus side females and we are seeing their competiters and lucky brands and kardashians and the exclusive have running out larger sizes to accommodate plus- side females. nmike, there is some successful companies that base success on exclusively. lock atative no. >> or armani. the stock is up since the ceo made the comments. there is something to be said for that. >> rick? >> what is not cool is mr. jeffries. my daughter is in great shape and very attractives and fits
9:24 am
the customer of ambercrombie, she was so insulted by the comments. why? the eths on of the customer. they don't think it is cool to pick on larger sizes. >> that is a fair point. but this is a company that is pushing the boundaries with the clothing and remember the catalogs that are border line pornographic. >> they are edgy. and ther is no question. >> they are look for example that edge to cope them up in sales. >> morgan, timing is everhing. and in the '90s over size was in. and everybodywanted extra large and are they squeezing them in a fashion corner that they may want to get out of? >> i think they are. it goes back to the point i
9:25 am
made. two-thirds of the americans are obese. over weight. >> not that bad. >> and the point is, you are talking about a huge portion of the population. and a huge buying demographic. >> hi priced jewelers cut out a large percentage. it is what you charge. >> and we have a big market to accommodate everybody. coming up, google sharesopping $900. and the stocks that they say will be the next google. at are they? stick around and find out. we went out and asked people a simple questio how old ishe oldest person you've known?
9:26 am
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 much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪
9:27 am
to enjoy alat od,hese years. whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. but with advair, i'm breathing better. so now i can help make this a great block party. ♪ [ male announce ] advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilor working together to help improve your lung function all day. advair won't replace fast-actg inhalers for sudden symptoms and ould not bused more than twice a day. people with copd taking advair
9:28 am
may have a higher chance of pneumonia. advair may incrse your risk of osteoporosis some e prlems. tell your doctor if you have a heart conditio or high blood pressure before taking advair. ask your doctor if including advair could help improve your lung function. [ male announcer ] advair diskus fluticasone propionatand salmeterol inhalation powder. get your first prescription free and save on refills at advaircopd.com. the wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimnzeeare. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applae ] ♪ hi. [ baby fussing ] ♪
9:29 am
>> we are back. ggle shares worth $900 each. our panel has the next goog stock. union pacific. >> it is not as expensive a google. it has solid financials and in the last three years turned out 30 percent yearly growth. >> mike? >> this is a really, really well managed company, david and although the stocks had a run up. it is recentlily priced at this point. >> everybod agrees. and cubbis pharmaceutical. >> it makes drugs for skin and
9:30 am
blood disease. >> you like it? >> yes, but remember the portfolio is concentrated. >> that's it for forbes on fox. erick boling next. >> bias against conservative and michelle bachmann is here. and the agency to enforce the health care laws. plus, help, help, shut your computer and turn off your phones, uncle sam is peeping on you. and invading the phone records and facebook accounts. all that and the government scandal that no one is talking about
99 Views
IN COLLECTIONS
FOX BusinessUploaded by TV Archive on
![](http://athena.archive.org/0.gif?kind=track_js&track_js_case=control&cache_bust=1955295850)