expecting a reading of 2.5%. david: up or down or unchanged. i think it will be slightly down. "money" is up next. >> i am denis neil. here is what is my niece and i will i am pulled the plug on u.s. power grid? that an escalation in cyber attacks you have to do this but as transcanada berndt surtout billion dollars for nothing? that is a budget spent on the keystone xl pipeline and the president still sits on his hands and the president of transcanada joins us to push of the pipeline and who made money today? proctor and gamble replaced the ceo. keep watching to find out. even when they say it is not

, it is always about money. dennis: if writing story from "the wall street journal" that iranian hackers have launched attacks in to american energy companies to allow them to critical infrastructure like pipelines. there is a huge cyber threat coming from china as well and our next guest thinks china and iran could be in cahoots helping them to launch attacks against the u.s. and here we have chris from the institute of the study of war and cyber security expert morgan right. thank you for being with us. chris, is every and serious? >> it is a pleasure. yes, they are serious it is

a strategic competitor to the united states. they oppose us at every level they can and the issue is cyber warfare is a serious threat. i believe specifically between iran and china and we see that in many other sectors and the iranian military establishment. two months ago we saw ships visit china and after that we saw this super tanker and two months after that we saw the cyber warfare attack on the american energy of the structure i don't think they are unrelated. dennis: with the news several today, more again, i did not see a link the way chris just built. >> i don't disagree. deal statement the enemy of my enemy is my friend. china has a strategic interest but iran is demonstrating a tactical and stressed -- intereet but they could be armed with

weapons supplied by a u.s.. they pointed on themselves now they will point* those in our direction. dennis: you mean a metaphor. [laughter] that'd assassinating angle that we messed up their centrifuge as they try to make material and then we stuck in the virus so what about a turnip on us once you have the cyber attacked it is usually visible to whomever you target. then you have that ability berndt to use that began but if you turn medigap -- around then use a back against you but but if it is the imposition of

chinese-made missiles the navy intercepted surface-to-air missiles for the rebels and yemen. the chinese armaments industry is heavily involved with the iranians industry but it is beyond my comprehension is not linked. dennis: are we capable to stop the iranians to hacking into the nuclear power control system? >> two things. remember 85% is owned by the private sector. is a possible? you can prevent some things but the real issue is do we share in affirmation between the public and private sector and is it prepared to take the necessary steps? the government may not say so but if you do with nuclear power and energy there is a lot of different regulations but we are about

having a defense bill by the intelligence community and friends. dennis: i saw the ice where a new doctrine that said if the four nations hackers tapped into our defense systems we will see this as an attack of four. has this actually happened fifth. >> we don't know but i believe smith is long overdue that u.s. consider the cyber attack as the conventional attack of warfare but it does not have conventional weapons we should have it with the same threat. if the iranian military is targeting u.s. energy infrastructure that is an attack on the american economy and population. we need to respond i'm not suggesting in this instance but we cannot hand tire so sore hamstring ourselves that we only respond to

cyber attacks if the iranians persist we must respond with the military option. dennis: metaphorical missiles may turn into real missiles at some point*. thank you for being with us. don't forget to watch our special report times monday may 27 at 1:00 p.m. at 4:00 p.m.. another vote on the keystone pipeline it was approved by a still no approval from the white house. that transcanada invested five years and billions of dollars for nothing? we will talk to the ceo of the exact how far will the hon go to take down steve steve, when? more money coming up. ♪

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whe new york state is insting one billion dollars attract and grow business. where companies like geico are investing in technology & financ welcome to the state where cutting taxes for business... is our business. welcome to the new buffalo. welcome to the new buffalo. welcome to the new buffalo. new york state is throwing out the old rule book to give your business a new edge, the edge you can only get in new york state. to grow our start your business, visit thenewny.com ...amelia... neil and buzz: for teaching us th you can't create the future... anwith that: you're history. instead of looking behin.. delta is looking beyond. 80 thousand of us investing billions... in everything fromhe best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.

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dennis: what does transcanada have to show for the $2 billion over five years and has been on the early stages of the keystone pipeline? some half built pipe buried in red tape it passed the house on wednesday but obama

seems to do everything he can to avoid letting them before including not doing anything at all. transcanada ceo joins us now i will get to the pipeline but first, start with the cyber threat we were talking about. these are reports that hackers has been getting into u.s. energy systems. did you know, they're there and you have reason to be alarmed? >> we're always concerned about certain acts journal attacks on our informations systems and on the control systems within the pipeline and other energy infrastructure. so we build systems to build with the department of, and security to understand what those threats are it that we coordinate our monitoring systems to ensure that our systems are safe and they're

not compromised the house dominated by republiccns as aaother bill to revive it are your odds of getting better or can he still'' this is very much needed and those refineries are getting crude oil from elsewhere then it makes sense to sign the 20 year contract to support us. we keep pressing for word has the department of state has completed the environmental review process and they are in the middle of reviewing the final comments we will see a final environmental impact statement this summer and then from there it will be in a positive decision by the department of state. dennis: here i thought that was international issue but i hardly consider canada is

an international rival. they say it will create an thousand skilled jobs to offset 42,000 other jobs so what is not to like? i have not heard you say that our chances will be approved. >> i always thought the pipeline will be approved it is hard for me to fathom any other decision as the largest decision and the imports come from the from canada is a logical decision it is the fifth largest it is of friendly nation and i can think. >> is vice do business but obama is torn between two

lovers hamas and the union backers who all but on him and they applied to the pipeline and his activist to hate the pipeline than the bill would remove presidential approval from the process for producing the obama is secretly might want control taken out of his own hands? >> if but it with the seventh so we have seen in congress for approving the project and the majority of congress supports it and the majority of americans support it so at the end of the day we will work our way through the department of state process and they have denis. this is the draft they have completed but but there is

note material environmental impact. at the end of the day the department of state comes to a positive conclusion still make you think if they keep delaying with 30 years of deliberation may be solar energy will be ready. but they are ready bring in 2.5 million barrels per day from canada of this pipeline would bring in another 830,000 barrels per day. 800. >> the pipeline that is left minty from irate the project was denied and they had to reply so the section nebraska through the gulf coast will be completed by the middle of the summer so what is remaining is the

piece running from the upper montana border through montana, south dakota and nebraska that is what is left of the pipeline. three states. dennis: what percentage is not finished? >> overall with 30 percent that is left to be completed 70% is running and another 27 of the by the end of the summer. >> is outside you are building it there 1/2 to do eventually. thank you for being with us. time for the related matter 31-point to million americans will hit the road that is a decline from last year because gas prices averaged $3.60 per gallon although release could be on

the way because gasoline futures have the worst week since april falling more than 2% and oil futures posted the biggest loss in most of the and a month but crude falls more than 2% and sells at $94 and $0.15. sec capital and four executives have new subpoenas and some say it is a witch hunt and how far will the fed go? how does something like this happen?@ after the government spends billions upon billions on stimulus to fix the decrepit roads and bridges. we will get answers. can you have to much money? ♪

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dennis: whether on wall street remained street here is you made betty behalf -- money today. and when you own some posturing gambled the ceo was moved and procter will bring back the well-rrgarded former ceo to run the company now the stock is jumping 4% on the news and pershing square capital owns 20 million shares that is a gain in one day of almost 90 million -- $90 million losing money by jefferies sealock abercrombie and fitch may need more than thin and beautiful customers same-store sales plunged 15% in the third quarter's sending the stock down tumbling that was also four point* $4 million today and also married jay oblige the ira's max our with the

3.$4 million tax lien what of way to end the weekend. the interstate bridge in washington state collapsing into river last night dumping to vehicles into the water fortunately no one was killed. the over $1 billion of stimulus from washington state for infrastructure fix how could that even have been? join me now from the wall street journal editorial board, washington state gets 1.$5 billion and spend senator 50 million not on bridges but high-speed rail? what is going on? >> it is a misallocation of resources and you will see a lot of talk in the weeks to come with photographs of the sunken bridge and people in washington saying we're not spending enough money on it

transportation i guarantee that is happening. you point* out a good example where a lot of the money is wasted. we know high-speed rail will not cover very many writers most projections show it will force huge operating subsidies and it should have went to repairing the ridge so it would not collapse. dennis: almost 30 percent of the bridges are in bad shape does it turn out when politicians received from washington they spend it on a shiny new projects than the boring stuff of fixing a decrepit bridge? >> craig point. there is nothing that i have discovered the politicians love more than the ribbon cutting ceremony for as a new raillproject or a statue or of building so you nail

that there is not a lot of? appeal to fill the potholes and repairing the the bridges but there is to the high-speed rail projects and that is why exactly the money goes to those projects. there has been no such shortage of federal transporration dollars we have almost doubled spending for highways and bridges over the last 10 years of it is not a problem of not enough money it just isn't going to the right places. dennis: redouble spending but hen in the come with our economy dying and then came the stimulus i hear the president say dozens of times we have to fix our roads and bridges 864 billion does it turn out that none of that went to fix the roads and bridges? >> all lot of it did but also into wasteful projects that have nothing to do with

improving the transportation sector of our economy. you are right to lot of bridges are not safe right now and if we see more of this the american people will be upset over the fact the bridges are not just impassible but also not saved but how do we allocate the federal tax dollars? a lot of it is an earmarked. but all about that state of the year market for the high-speed rail so lawmakers had no choice they had to spend it for that project. dennis: in other projects they say that they are so much better knowing how to spend the money so they should get the block grant that would think that state officials would be better than the fed and but they were not. >> to make goes back to the point* that people like to do projects that is a basic

minutes of the transportation system is not kept up and we have this problem in northern virginia according to the transportation department one of the worst congest and problems in america instead of building new lanes again they build the transit system that doesn't have a lot of writers. it is a serious problem in terms of the time people waste and public safety. dennis: there is nothing like good good old-fashioned new york city's subway. [laughter] >> that needs repaired also by the way. dennis: it will be after a crisis. up next space executive slapped with subpoenas but is there any real wrongdoing? or is it of a witchhunt against the co-founder? the owners of a taxicab company suing there

bloomberg say they said the inspectors after his company sending to destroy the industry and up lawyer is here to claim my. coming up. ♪ ion doars to attract and grow business. where companies like geico are investing in tecechnology & finance. welcomto the state where cutting taxes for business... is our business. welcome to the new buffalo. weome to the new buffalo. welcome to the new buffalo. new york state is throwing out the old rule book to give your business a new edge, the edge you can only get in new york state. to grow our start your busiss, visit thenewny.com you ow it evenll after all these years. but your erectile dysfunction - you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right.

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dennis: the witch hunt as some call it four sac capital steve cohen continues. they has been hit was new subpoenas after he himself was subpoenaed last week over insider trading but the probe is five years in and time is running a house and now let's talk about chief operating officer of monster crew spent jail time if the stock options backdating scandal a few years ago and i imagine you must watch says with interest you know, what it is like to be the lightning rod that law-enforcement come after you think it is a witch hunt? >> my pleasure. to a degree i think it is. if they could have indicted him already a thing they would have five years is a long time as i watched the events play out in the press it has been astonishing one

week after another you would think they could not do that. we're getting what is going on inside the grand jury investigation almost daily like they try it in the press because they cannot do that to the court room. i wonder if they can get a fair jury at this point*. dennis: i met steve cohen added charity dinner and the most unassuming quiet man. he is not a swaggering that the fed takes the down by the targeting him because he is big and successful? >> i would think he makes a good target because the firm has high returns and there are people tied up in the investigation. once that becomes the headline and he is out there to be more successful than it is almost like it is an impersonal but it comes in on you and it is a game of

wind or lose not justice. dennis: the highest is pounded down look at eliot spitzer of hank greenberg with aig that case never went anywhere but they got rid of him than the company went into the trash. teasing sec officials are driven by people are being hurt or what good headlines to build my career? >> i mentioned this before there are good people and bad people in every place but there are enough in the justice department letter therefore career purposes. wes justice but could i get the seven figure white-collar job for what is my next political office to make sure that what i need to get them.

dennis: nothing like to make up for a birdie made off. vague subpoena steve cohen but i hear when you subpoena the main target that may mean he is nnt the main target when you had your unfortunate incident did they subpoena you or get them around you to tattle? >> i was almost there were more after my boss but it was more way to doubt. i think the government is playing divide and conquer hoping they can get somebody to flip i guess the people at sec that we all need to hang together or hang separately so there is a lot of things in the air and i am as surprised by the subpoena but i think it has increased pressure i would

be shocked if there wasn't an indictment after all of this especially last night there was a presentation with the justice department where they should not and this seems to heat up further and i have been through that. dennis: five years long only now use of the ned the four lieutenants he's got to go after them right away? thank you. switching gears are the taxi's being kicked to the curb? the calves have not been getting a taxi to route project requires of 13,000 cabs to switch over to the news on minivan they're not even the hybrid. on january 1st and a matter of office i will enjoy a long dash destroyer and industry also some overreach the odor from the

texas association fighting back a thin, welcome to the show. of the of the mayor told your client to his face directly he would come after him? >> he did but the entire industry he will destroy this industry and i think it is fair the industry asks the mayor and all the yorker's ask and how does he intend to do that, and why does he it is the electronic industry and is he doing anything to fill the threat? dennis: why would we want to switch all of them? there are 13,000 white to the nissan? it is not even the electric car. >> a great question eyes years agg and he said he wanted all hybrid fleets and signed legislation that allowed us to put on over 6,000 hybrids today's over half of the fleets in new

york city right now. dennis: already energy-saving hybrids. now they have to turn in those and drive the neece on that doesn't. >> absolutely. the taxis of tomorrow it is the taxi of yesterday of the combustion engine old-style minivan the only benefit is one uniform carr. that taxi that is not a hybrid actually violates the law so we brought our concerns to the mayor actually to the taxi and limousine commission to say we have one car you put all suppliers out of business one japanese car manufactured in mexico, a gm, ford, suppliers are going on as business and we have to retire the clean hybrid energy cars that is

the violation of the law. they ignored us. we went to court. dennis: is outside government seizure of property rights. what stager you rat? >> we won the lawsuit about the hybrid while we had the lawsuit pending they issued well over 10,000 violations against the industry they use that as leverage they came to one texting group if you drop another lawsuit we will get rid of the violations. dennis: are you kidding me? >> to the owners. dennis: that you are double parked the. >> all kinds of regulations if you don't double shift, if you don't get out if you have the driver shortage, if you don't keep track of your lease contract , and there are all types of obscure regulations dennis: when you have

thousands you give government a chance to pick and choose whatever rule they want to come after you to hassle you spinet there doing it as leverage and they actually said if you drop this taxi of tomorrow lawsuit we will discount the tickets or get rid of them completely. we said no. immediately following following, vaporized with thousands more and hundreds of thousands of dollars now totaling in million dollars. dennis: i cannot believe this. >> we filed the lawsuit with constitutional retaliation and after that lawsuit was filed the mayor launched his expletives threat to one of the members. dennis: where is the city's project to force the entire cab fleet to drive any sign? >> what they are trying to do now is they have carved out one little type of hybrid that we said we can use limited to vehicles like the lexus.

i am an attorney and i am married to an attorney that is the car i drive now the fleets of new york are supposed to operate the lexus? nobody can afford them and it is not a fleet carr this is what they are doing to say we have to give them an option we will make it so expensive that they have to use the neece on. dennis: it is sometimes not the best solution brian government and you are business sandy will do what i tell you to do. is seems about power and control. >> i think so. the mayor tried to force all the cabs to go hybrid. we were okay and and others were against he did i get that so now he says now i will force you not to be. now he is in control. dennis: coming up is mcdonald's tricking kids into eating unhealthy foods? this nine year-old girl lectures the ceo at the ico meeting. or are the parents to blame?

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dennis: a nine year-old grabs the spotlight at the annual shareholder meeting yesterday challenging the ceo on the fattening effects of the cuisine. >> i am nine years old. my name is an effort of their things like that just are fair i'd like when your pet dies or you have to go to a specially then does something i don't think is fair when companies try to trick kids to eat food that is not good for them by using toys. dennis: growing mcdonald's over serving junk food but is that mcdonald's responsibility or is it the parents to insist that they eat healthy foods? we will talk to a certified dietitians entry now. so what happened at the shareholder meeting? was this stage or sincere?

>> i think she is totally sincere and i praise her mother to bring her up that she knows the difference between healthy food and junk food. dennis: but is it mcdonnell's responsibility to stop advertising to kids? >> nobody should be doing predatory marketing now all ronald mcdonald is the big bad wolf he brings people in but really what they get is diabetes and obesity. dennis: not -- no nine year-old girl can walk-in alone to order a cheeseburger she is with her parents a does not matter if she has an advertising messages aimed at her. they say no. >> have you ever been an end of a car with an annual to a screaming it is very difficult to say no sometimes. when mother called me today that she says sometimes you can't just say no and you

cannot say any more then you give an end. i do believe it is the parents' responsibility but they make it harder on the parent and if they need to make it easier by not marketing to the children. dennis: come on. i feel like mcdonald's is the old and outdated complaint did has low-fat milk, a fat-free chocolate milk, apple slices instead of french fries, a grilled chicken salad, it runs public-service ads on the disney channel i see them all the time to get out and exercise. this is not a bad actor they are bad parents. >> low-fat chocolate milk is still filled with sugar. read 40 is banned in other countries for getting a dd and what about the eight mike muffin? if you use that ingredient you go to jail for 15 years.

dennis: if you use it where? >> in singapore. dennis: that kind -- country that banned chewing gum? >> it is also an one-hundred countries that is one of the foods every golfer we have 13 of them there are also caramel color is suppose to be carcinogenic and negative a trows corn syrup. dennis: you are a fine person and well intended but you act as if once mcdonald's and wendy's and the big people stop advertising to children and children will stop demanding parents take them to eat junk food. that will not have been. >> it will help because the less time the children see this and attempted by the two ways to and stop pestering parents to make smarter jurors as i'm not ising parents are perfect breakfast without the childt

and they have no excuse. dennis: nobody says the parents are perfect but it is the parents are the of the problem not the parents leave mcdonald's alone. have a great hooiday weekend. when you run for mayor you may want to show the actual skyline one your website anthony wiener just put up the wrong skyline on his. you can never have too much money. ♪

lcome to theew buffalo... where new york s state is investing one billion doars tottract and grow business. where companies like geico are ining in technology & finance. welcome to the state where cutting taxes for business... is our biness. welcome to the new buffa. welcome to the new buffalo. welcome to the new buffalo. new york state is throwing out the old rule book welcoto give yourw buffalo. business a new edge, the edge you can only get in new york state. torow our start your business, visit thenewny.com [ agent smith ] i've found software that intries me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patien to nurses to the right machines while dramatically reducing waiti time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ]

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dennis: all right, it is time for a little friday fun with spare change or you today we are joined with a seaport security expert. thank you for being with us. also, we are joined by in new york city party official. officials took upon themselves to be part karstadt metered spots the way. here's the kicker. they then feed the meters.

>> you assume you feed the meter. you a lot amount in your budget for this. if someone else does this, it's not happy or good. >> you know, it is all part of the money grab. a ticket, raise revenue, that is what we are dealing with are it is no surprise. >> did you hear our previous guest who said that people had 10,000 ticket last year. parking is just such a nightmare.

>> in los angeles do you guys have those problems. >> see pictures of celebrities day-to-day getting tickets with their cars because they didn't make it back to the meter in time. >> there is a new and experimental program when they went out three bikes. and you partners, someone else grabs it, this is doing here in the city, isn't it? >> the tram system here is a little bit flawed. you cannot drive your car in the city. so they will run bikes. >> the tickets work this way. the bloombeeg way. if you run for mayor, you might want to make sure that your website describes the city. but anthony wiener just botched

it. he has a picture of pittsburgh instead of new york city. several bloggers pointed out that this is a rough start. >> given a choice, i'd rather see a bad picture or a mistaken picture, or an outline. >> there is so many different jokes you can make. i'm not going to make it even. yet, it is honestly not his fault. but you think with all the scrutiny that is going to be on the campaign that every little thing that could be taking care of can be taken care of. dennis: i think that the jokes will peter out eventually. i am just wondering, do you think that they will be doing this on purpose as a way of distracting from the twitter problem? thing all, look at the website. >> may be laborsaving little money and they didn't want to pay deposit. so they got a little discount.

>> let's move onto the next one. >> a police department valley falls, campus. let volunteers drive the cop cars. this is what one targeted in the words of a town local. he was turning the siren on and off come the headlights on the not. he hit the airport a couple of times. he floored it. he gunned it. the police department halted the @%ogram. >> first of all, i thought this was an onion episode. i did not think it was a true story the police actually let people just take their cars. i feel like i'm going to read about this in a magazine about the next reality show. >> right. >> i cannot believe that police would get rid of people their cars. >> a great community building project. maybe they will think twice were

committing a crime. i think that when you put a regular person in the cop car, the first thing that happens is that every tv show caught chasing suddenly comes right off their fingertips. >> the person you're first thing you're going to do is turn on the siren. who has the ability to feel what it's like to turn on the siren? >> and what about arrested development? the time has come. we are going to put the brand-new season of on the table here. >> i am looking forward to it. does anyone have theefrozen banana stand out there? [laughter] is going to change the way people watch tv. >> what do you think, jason? >> it's pretty exciting. as we were talking about this earlier, this is a new form f the video, it interactive, people get to watch what they want to watch. they don't have to do it online or on tv.

>> netflix charges about $8 per month for all you can eat. just because people watch arrested development, netflix is making more money on it. >> i think people will say that there will be more opportunities like this. >> "the willis report" is coming up next. thanks for watching. gerri: hello, i am gerri willis. tonight on "the willis report." as homeowner claims rise and natural disasters mount, insurance companies are becoming stingier with payouts. also, getting the best deal when you buy a used car. and your medical privacy. we have you covered tonight on "the willis report." our top story tonight is insurance companies becoming stingier with