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tv   MONEY With Melissa Francis  FOX Business  May 29, 2013 12:00am-1:01am EDT

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>> i mean, i agree. and believe that that has bee in ac that liberal groups and unions said that for quite awhile. a local union chapter president who wrote an op-ed. we'll see. "money" with melissa franc is next. melissa: i'm melissa francis and here's what'smoney tonight. new tgets in the irs's cross-hairs including a jewish charity that actually filed suit against the agencyhree years ago. we've got an exclusive with the group's founder and how far back and dep this scandal really goes. can you say watergate? google is taking cloud computing to a whole another level. the tech titan has a pie-in-the-skylan to bring high-speed internet to far-off lands but is it a moneymaker or will it blow up like the hindenburg? whomade money tonight. here's a nt. he is a green guru who is swimming in dough? any ideas? keep watching and find out. even when th say it's not it is always about "money".
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melia: so we start tonight with the latest accusations and stunning charges in the irs scandal. it turns out it is not just the tea party. it is now coming to light that the irs was also targeting groups like jewish charities. it is getting hard to ignore the buzzing question, is this president obama's watergat joining me now in a fox business exclusive is lori lowenthal, the president of pro-israel organization, z street. she says h organization was unfairly targeted by the irs for political reasons and filed a st against the agency back in 2010. thanks for comg on the show. so you were told that your agency was given special scrutiny because it was pro-israel and, it was sent to a speclt in d.c., is that right? >> well, almost exactly right. what we were told is that the irs had to give special
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scrutiny t any organization connected to israel. and, that many of them were sent to a special unit in washington, to determine whether or not the organization's policies contradict those of the administration's. melissa: specifically, if you contribute the policies of the administration? i also read you were told ey were looking into anyone who might be related to terrorists or be funding terrorism. which of that more accurately describes what happened to you? >> aually, both of those things happened. they seemed to be inconsistent but those were arguments that were presented by the irs in order. the ultimate position the irs took in legal documents was they had to look more carefully at z street because we might be funding terrorism because terrorism happens in israel. it is completely ridiculous. z street is purely an educational organization.
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we don't fund anying. we don't give grants to anytng. ether in israel or anywhere else. so, i'm pretty sure that it had too do with positions that we take. melissa: so you weren't filing for exactly the same status as the conservative groups that, that have been targeted and the irs has admied they were targeting. you were filing for very similar type of heading, that, it makesyou a charity but you don't actually give way money and you're not a lobbyist. you're basically out ther to educate pele, is that -pright? >> right. it is purely what is called a 5(c)(3), purely educational charity. nothing to do with polics or lobbying. melia: so what was your response and where does this stand now? >> well, response initially was fear. how could the government do this. totally inappropriate. and, thene rallied our troops and we decided, we can not allow the government, the irs, to treating
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anybody including us unfairly and acting in constitutional manner. we filed suit in august of 2010 and we are awaiting, we will finally ha o first hearing on july 2nd but because we filed the lawsuit, the irs invoked a recently-passed regulation and told us that although it wa discretionary, they were going to put our apication asid and not do anythg because we hadued. melissa: now other groups in e same situion have said they were asked questions like, does your organization support the existencef land in israel? describe your organization's relious belief system towards land in israel? were you asked anythi like that and what do you think of those questions? >> we weren't asked anything like that because we make it very clear what our answers ar to those questions. we are a very pro-israel, staunchly pro-israel organition and we talk almost exclusively about facts having to do wi israel. so those questions didn't
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need to be asked. they are however, they completely outrageous questions that should never be asked by the government for purposes of this type of investigation. ally inappropriate. melissa: what do you say to ople who say that pardon me, organizations like yourself or e tea party who havepecific beliefs maybe not everybody agrees with, shouldn't have tax-exempt status, that you don't desve it? what do you sayo people like that? >> i say if that is going to be thedecision, that you're nogoing to give tax-exempt status to anybody other than, i n't know, someone who gives healthare to the indige, that's fne but it consistently across the board. you can' pick and choose based on someone's beliefs. melissa: yeah. terestin lori, thanks so much for coming on the show. we certainly appreciate it. we'll follow your case. >> thanks, melissa. melissa: f reaction let's bring in james freeman fro the "wall street journal" it feels like this is getting bigger and bigger as more people come out. >> and we're not learning what we had hed to learn from thesers officials as
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they testified to congress. basically they're lawyering up. they're not really telling us what happened. we'll wait and see what happen here, whether this is, could it be an honest mistake that they were actually looking f teorist frnts and in good faith ended up giving this group a hardime? we'll find out, but how can you give the irs the benefit of theoubt right now or the obama administration for that matter? melissa: could have just been rigorous questioning. somee trying get tax-exempt status very valuab financially. trying to get dough natis that are not taxed. they have to put them through the ringer to make sure they are who they say they are and doinghat they say. could you possibly justify what happened, what you heard in this case? >> one thing you alluded to, there would be a higher level of scrutiny over this group, this category of group versus the tea party ones because they as a c-3, handing out tax deductions to people that donate which c-4s do not. you can understan whythe
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irs would wantto be tougher policing groups that are allowing donors to get tax deductions. we've seen, z street, franklin graham saying we got some very tough sctiny after we speck out on policy issues. some other religious groups. of course the tea party and romney donors as well. melissa: response to all this when i hear the arguments, lower taxes on everyone. that is a discussion for another time. >> yeah. melissa: w what do you think about the largerssue? peopleeep saying watergate. democrs and o course espeally the president ge very upset. check your history. this is not at allimilar. this is libel louse thing to be throwing around but how big is this reay getting? ithink it does go o the heart of oudemocratic process when you're talking about essentially using the an arm of the government, the taxing authority to pounon a group that was the eentially the difference in the 2010 elections. we find out, not so big a factor in 2012.
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now we'reeeing those people were harassed. in a sense you could say it is bigger than waterga. i don't think anybody thinks the watergate break-in through the election to the richard xon. i won't say it through the election to the president. but -- his philosophical opponents gettin harassed in the run-up to it if i could flog my colleague kim strassel's column friday, talking about how this is a team obama tactic since '08 gog after conservative groups,rying to begin up federal investigions. melissa: but the essential question we can't forget we still have not answered, where did thtart? whose idea was it? >> right. melissa: thahat is essential. we can't lose any sight of it. are we getting any closer to this answer? >> other news this week which is big learning how many times these two guys who most recently answered the irs visited the white house. very bizarre. over 100 times.
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and, bedes, you know, some of it, a lot of it is obamacare which raises questions on itswn. lot of these visits unexplained. you compare that to their predecessor, who visited the white house once in four year yeah, a lot of questions. melissa: a lot of questions. wel stay on it. >> sounds good. melissa: thanks so mh. so whether onall street or main street here is who made money today. if you owned stock in storied jewelry seller tiffany's you're raking it in. they reported better than expected first-quarter earngs the stockoared 4% on the news. look at that move! that is the highest level in nearly two years. if you cased in on the stock buy something sparkly for yourself or your wife or for me. making money today, green gurund founder of test la elon musk. both stocks a soaring and musk is reaping the benefits. he is wait up, wait for it, $2.9 billion this year! what
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a guy. losing money today, lance armstrong's charity livestrong the charity ggest corporate supporter ke officially pulled the plug. nike was the responsibleor the sale of 87 million little yelw livestrong bracelets. saw them everywhere. at a dollar a pop, that is livestrong won't be making them again. that is shame. we'll tell you who is taking on the big boys. plus, unions long suorted president obama d his health ce law but they're now doing a 180 and arguing millionsf members may have to drop their coverage. how will thatit your wallet? more "money" coming up. ♪ . we went out and asked people a simple question: how old is the oldest person you've known? we gavpeople a stier and had themhow us.
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we leararned a lot of us have known someone who's lived well into their 9. and that's a great thing. but even though we're living longer, one thing that sn't chaed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoyll of these years. ♪
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melissa: a surprising new idea for heth care that you haven't heard before. georgia hospitals creating their own treatment for rising costs. twoajor hospit systems in atlanta are cutting insuranccompanies out of the mix all together and starting their o insurance company that will compete directly with the big boys. wi aetna, unitedhlthcare
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and blue cross and blue shield among others. fox news's jonathan serrie has more from alanta. jonathan, tell us about this program? >> hi, melissa, piedmont and wellstar are two nonprofit hospital systems exploring providing their own insurance. when you think of e traditional hospital model where you have patients filing claims with insurers wh reimburse the hospital systems. what these hospital systems he in georgia are looking at is eliminating the middleman, creating a raight line between hospitals and their patients. looking for ways to improve outcomes and reduce costs two metro atlanta hospital systems are going into the insurance business, essentially eiminating the middleman between patient and providing. >> bause the big insurance companies compete with each other on annual contract renewals, they're very hesitant to share the massive amount of date that they h over thousands of
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patients. >> wellstar ceo reynold jennings says access to the data will help them better manage care. hoitals are moving away from a system that rewards each medical procedure instead of forrouts comes. >> in order to survive in that world you need an integrated health care delivery system. you need to provide the entire gamut of services that ia way that is cost effective. >> georgia state university professor, bill custer said obamacare has a national movement to merge and help stop rising medical costs. >> the changing environment of health care is such without that partnership, they may have have a tougher go of it. >> and melissa, the two hospital systems are planning on srting out offering this insurance to thein employees and their dependents. but if it a works out, they hope to expand
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offerings to t general public in the very near future. melissa? melissa: fascinating, jonathan. i'm sure we'll see more of this. we can't wait to follow this story. thanks for bringing to us. >> definitely. melissa: unions are jumping ship from backing the esidens health care law despite years of sport. in a complete 180 the unions are saying the costs are prohibitive and we'll end up seeing potentially people having to drop out of their current plans. duh. barbara comstock is advisor with the workforce fairness institute. barbara, these are the exact things that so many of us who could do math were saying from the begning. that there's no wayto add a bunch more people that are going to be mo expensive and tell people you're not going to charge them more for preexisting conditions and not have everyone's premiums go higher. now it seems the unions have woken up to this, right? >> well, that's right. the, there was no real reform in the unaffordable care act which was t big
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problem because as your previoussegment just demonstrated we can find ways where you can improve outcomes, increase access and decrease costs but the unaffordable care act, the obamacare bill, does not do that. it is one se fits all. it is a plan that now that this train wreck that it is, is now apparent to units, who actually have to operate under it, now, they're sitting there on the tracks, they see that they'r going to be part of a train wrecks and they're yelling stop. we really need to all start, co together and say let's allow more innovive reforms on the state lel, where i am, as a state legislator. melissa: yeah. >> we want that. but the unions want payback anthe problem is, they have been part of the problem. they forced this on us --. melissa:uotes from them are amazing. they say this will force their members to change their insurance or accept moreexpensive and worse coverage in the state-run exchanges. quote you can't have the same quality health care that y you had before despite
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what the president says. thhs is the head of the change to w labor federation is the one who said that quo. there anything, how can% this situation be rectified for the unions? can they get an exemption? is there some way way for the president and his administration to wiggle out of alienatg this group that has been so essti to him and has now woken up to the problem and and is scing? what can he do so save his bottom? >> i welcome unions to economic reality 101 and they need to join us in repealing obamacare and start with real reforms and wher we can all get better access and lower costs and more flexibility. melissa: i feel like that is not going to happen. i feel a deal will be cut bendhe scenes, where unions all of sudden, their membership doesn't have to go through what the rest of us have to. am i so cynical or -- >> no, you're right. that's what they have already gotten all kinds of exemptions, unions have, from the health and human services department and,
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labor department. so they are looking for special fars. that is the big problem. they're looking for special favo now on hang to live under the rules that they wanted to impose on the re of us. justike they're trying to get special favo over at national labor relations board. we need to guard against unions getting special favors. melissa: and res of us getting stuck. barbara, before we go i want to ask on the story that came before you, because we're out of time, doou think that is more what we'll see? that case they're trying to cut outed middlema and lower costs there is obviously all kind of incentives on either side through but is that sort of the model we need going forward? >> we need a model that brings tients and doctors and patients and hospitals back together. we need to do that. if we allow more state-based reforms where i'm based, love to see that not let labor unions push thingsn like this and get a special exemption fr rules they imposed on rest of us. we do need to see the
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flexibility and hopefully the unions will join to repealin obamacare and get back to something at would work for all of us. melissa: that would be interesting. that would be an interesting partnership but desperate times maybe call for desperate measures on every side. >> the train wreck is coming at them too. that is the problem. melissa: we can all see the light coming. appreciate your time. coming up on "money," wall street started with a big rally today. i think the cause behind it is one of three things. keep it right here to find out what that one thing is. not only is california notpproving fracking proposals, it's actually rushing anti-fracking bills in the state! why is the state so blind to all the money and revenue it could make, not to mention the jobs!? we'll tell whayou it is missing. do you ever have too much money, may like california, i have too much money, forget it, never mind. ♪ .
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melissa: the week on wall street starting off on a positive note after a holiy. the dow soaring more than 106 points to close at new record high, 15,409.39. nasdaq and the s&p also climbing higher. i say it is one of three things i want to see if o experts agree with me. they will if they're smart. jonathan hoenig is fox news contributor and capitalist pig.com portfolio manager. we have lake midel, president of american wealth management. lcome to the show both of. >> thank you. melissa: here are three choices go with none of the above and be a stick in the mud and whatever. consumer confidence that was a big one today. highest level since february of 2008. case-shiller home price index, the 20 cities up the most since 2006. they're up 10% year over year. bank of japan an ecb saying they will keep the money
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flowing, everything loose and happy. i think it is the third one. what do you think, jonathan? >> well, i would say, melissa those are more consequences of the strong market rather than causes of it. the market,he dow, as we've talked about has been strong for quite some time. real estate too. reits have been great leaders. the one you left off the list is the fed's intervention, our own federal reserve pumping money, i got to tell you that is what is starting to change. the toy the 10-year bond had the fourth bgest jump in yield over the last 50 years. i think that trend in bonds is turning downward and people have to be very carel about reits, income-producing stuff, all the high-dividend things they bought over the last few years. melia: leif, got it wrong but got there through the back door, the reason why we saw the rally is all because of theed and reaction today has to do with the ecb and everyone else around the world saying we'll keep it all flowing the same way the fed will keep it all flowing,
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median house prices. that is one of the reasons why they're going higher and higher because there is loose money everywhere, right? this all about the fed, that is m bottom line? >> melissa, i'm totally on your page. you can see not only our fed it's across the world. all of these institutions, bank of japan, european central bank all singing in unison we'll keep the money flowing. melissa: yeah. jonathan, if we're all on the same page now, what does that mean for an investor? becae is artificial but at the same time maybe it is not going away anytime soon so you want to be in and riding the wave ors it dangerous. >> i disagree, melissa. melissa: okay. >> it is going away soon. melissa: really? >> see the market taking it away going away soon. just today you saw interest rates at multi-month highs. three-year highs, one year highs in many cases. melissa: great point. >> market seems to be calling bernanke's bluff. sure this easy money policy will continue. my biggest trade right now is betting against bonds, betting on higher interest
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rates. i think it is a much more shre, much more ternative idea than simply following the trend in stocks right now. melissa: leif, what do you thinabout that? if we see the hike in bond yieldsnd see vigilantees come back, can't the fed fix that too? >> in the short terme're negative, we're concerned about the mart rather and i think the market is really trying to create a new trading range hopefully at these higher valuions. as it does so i think bonds will have price stability. i don't agree with jonathan as much as i like him i don't agree prices will fall off a cliff. i tnk we go into short-term consolidation range hopefully at these higher levels and see an advance later the year. melissa: we all agree we like jonathan. we have to go. guys, wel do it again. next on "money," with states like tes and north dakota raking in the dough from fracking it is mind boggling to me that california is doing everything it can to prevent the process including rushing and anti-fracng bills through the state.
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why don't they want to make money to pay their bills? google got a new idea, and it is nothing if not sky-high wait until you see this one. "piles of money" coming up. ♪ .
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♪ . melissa: talk about a golden opportunity, there is an
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energy boom going on right now in california but at the state capitol, there is also a race to regulate the industry. it could put the akes on one of the bright spots for california's economy. fox news's claudi cowan is live in san franciscwith this story. claudia? >> well, melissa, we're talking about fracking, hydraulic fracturing. a lot of discussion about this technology right now and this flurry of bills here in california coming now in response to the growing buzz over the monterey shale. this is a geologic formation in central california where talk of expanded fracking is sparking esmates of 15 billions barrel of oil, millions of new jobs and huge contributions to the domestic energy supply. a number of democratic lawmakers are saying hey, not so fast. they have inoduced measures cagng down on the controversial technology. some of the bls take aim how crude is extracted from rock layers beyond the reach of conventional drilling. others call for full disclosure of the chemicals used in the high pressure process, how they're removed
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and where they're stored. one seek as moratorium until more studies are done on the potential risks. hydraulic fracturing,00 of gallons of water, laced with chemicals, sa and can go horizontally underground, we don't know, we don't know enough. a standard step in oil drilling fracking has been used in california for deca and has a clean safety record here. supporters say bills seeking more studies and rules are athis point premature and coul jeopardize a potential bonanz >> why would you want to cuail energy production with the technology that has proved to be safe, and he do nye the folks in the regions of the state who, where those benefit are going accrue? that opportunity? that just doesn't make any sense. >> meantime state regulators have just released their n preliminary rul which when approved, they argue will make anti-fracking laws unnecessary.
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but some legislators are not convinced those regulations will do or go far enough as energy companies eye the vast monterey shale and the promise of califora's biggest boom ever. melissa. melissa: absolutely. it is a huge deposit. claudia, thanks so muc as you saw california is rushing to pass anti-fracking bills but haven't they seen the economic boom in north dakota? do the hat 3% unemployment? it is terrible to have numbers so low. here to drill down on the details and tapping this resource are steve moore from the w -- "wall street journal", and aaron mcclaire, former press secretary for governor arnold schwarzenegger. always nice to have you on the show. aaron let me start with you. what is to hate with new york dark? they have 3% unemployment. value of land skyrocketing. kkr will be built in 820 multifamilunits. burger king, $5,000 signing bonus for managers, they ve so many bs they dot have people to fill th.
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what is to hate here? >> as you mentioned we have one of the hight unemploymentates here in the country out in california. we have hundreds of billions of dollars in debt mostly due to pension and retirement obligations. we could certainly use the help. the difference between here and texas and north dakota and some other place the environmental lobby is very stro out here for good ason. we have a beautiful piece of real estate out here and californians support protecting the environment but there is a balance we need to strike and don't think the balance is going in the direction of business as it ought to be. melissa: steve, the epa said quote, repeatedly coirmed hydrauc fracki has caused no proven incidents of ground wer contaminatioo. fracking is not new. it has been going on for a long time. just the technology has gotten better, we can do re of it. that's why you're aring more about itow. is there anything that can be done? they say in claudia's rept they're waiting to make sure it is sfe and clean so we don't wreck california. if i cld take them at their word but i would say
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that makes sense. but the epa who doesn't like energy already said there is no proven case of groundwater contamination, so what more do they need? >> to be against hydraulic fracturing is like being ainst a cure of cancer. that is how big a breakthrough this isin terms of oil and gas resources. as you said, it is happening, melissa, all over the country. it is happening in north dakota. it has been ppening in texas for many years. there have been no water contamination issues there. it is happening in west virgina and pennsylvania and those states are getting ch. look, i agree you have to be very careful about this. it is a new technology. california's a beautul state. you don't want contamination of the drinkin water but you know, we canalk and chew gum at t same time. this should be regulated to prect the drinking water, but it can be done in ways that will raise tens of billions of dollars for the state. by theay that is a way to pay off huge unfunded liabilities, to improve the school. so it'a win-win for the privatsector and the
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govement sector. melissa:aron, i wain northernaliforni this weekend. i grew up in southern california. i know what we're talking abouhe. it is a beautiful place and we don't want to eckit and soil it. at t same time, you know, how much evidence could be produced, is there anything that culd sway environmentalists ors this just buying time? again, if the epa says they have never seen a single incident where they can say there was groundwater contamination, what evidence could come along that would change the m of environmentalists in california? i think claudia pointed out, we've been dog this here for 60 years. there never has been a incident. there are no studies, what other evidence could be out there? so far tere has been non that indicate this is bad idea. i think governor brown actually has it riton this one. democrat and democratic a legislators are putting foh these bills. he said we really need to look at this, i environmentally safe w we also need toealize this is an extraordinary potentia for california, with all the
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problems that we have, it would be terrific i we could tap into that. >> melissa, he mes a point on this. melissa: jerry brown said, we need money. isn't that what you heard from aaron? want money. >> that's right. that's one of the reasons that jry brown i think is moving to the pro-fracking si. look, i actuallyhink this is going to get done, melissa. melissa: really? >> i really do. the economic advantages are so enormous that i don't think it will get stopped. but you asked why are the viroentalists against this? maybe i'm a bit of conspiratorialist. ion't think they're so coerned about the fracking process. th just don't like fossil fuel right? they don't want oil and gas out of the ground out ofthe moer ray shale because they think it causes global warming. i think that is the real agenda to try to stop fracking so we don't go ter the resources. by t way not going after those it is a w to supposedly continue to subsize the nd and solar industry tre.
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melissa: without question. you guys are fantastic. steve moore, aaronclear, thanks for coming on. >> thank you. melissa: ge puttin biions where the boom is, fracking boom that is. not only is ge opening a new lab oklama it is buying up related companies. the company says its$15 billion investment makes sense for ge's fure because the technology cod help potentially address environmental oncerns. you hear that california? the rising impact of u.s. shale oil production making so wave with opec members. members are set to meet this friday in vienna and will address the issue of production cuts should prop up prices if they fl any lower. the u.s. and canada a on track to produce 21% more oil by 2018 according to the international energy agency. chevron giving a billion loan to venezuela's state owned oil company, ped vasesa the joint effort is in an effort to boost
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production in the bakken oil field b 2000 more barls a day. the oil fiel currently produces 107,000 barrels a day. when they say sky's the limit, google takes it literally. how its newest plan to bring wireless to the masses is taking off! at the end of the day it is all about fracking. ♪ .
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♪ . melissa: google doing good by traveling across t globe to provide internote to those without it is so kumbayah but going by blimp. the tech giant is planning to use blimps to provid service d cell phones to areas in africa and southeast asia. it cod help as many as a billion people connect to the web wirelessly but how does it help google and its shareholders? todd hazel ton from tech buffal joins me to talk about. i thought it was tech no buffalo. >> it is. melissa: that was a little miake in the prompter. this story is interesting. they're trying to get the internet to 2 billion people. they're using blimps in certain spots. they're using cell phones.
quote
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not dropping cell phones fr the blimps, that would be dangerous. they say the ceo, larry page said they're doing i as sort of a humanitarian thing. >>ight. melissa: but, which i don't even love because they're a public company so they're really supposed be beholden to the shareholders. >> right. melissa: i think they're sort of creating a market. >> let's look at it from that standpoint going to gdp 7.1illion all from the internet last year. let's look at this. android is 900 million activatis of android from google all around the world. now consider that there is 4.6 billion people on the earth with 10% penetration of andid. that leaves a huge market for google. as a matter of fact, eric schmidt, the chairman said recently, that he believ for every one person on the planet, two people don have internet access. melissa: yeah. >> so google is about to deliver. right away you get android activations right in emerging markets. melia: i gue but i'm wondering, if subsahara africa will th order a lot of stuff from amazon?
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>> that is not the idea. it is for education, for business. melissa: how do you make money off that? >> right here you have penetration. so you give android services to your people and automatically ttey're using google search. ey're using google's ecosystem of apps. maybe not music but using google maps and using other applications translate where these are people who never had access to the internet before, not even connected. >> don't they have access to the internet because they don't have a lot of money? how much could they do on a phone. >> that's war google comes in. melissa: even if you give them the phone can they pay a monthly bill. >> n i don't think it will that way. what google is doing is on humanitarian effort. you give them internet. soon you get business around th internet and boost the economy in the countries. melissa: hmmm. is there -- >> sorry. melissa: that makes a lo of sense. >> inthe in the united states whichave google ber and google is subsidizing roleouts for 100 megabit internet which no other carrier can offer.
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google is doing i here in the united states. melissa: you see the immediate payoff to them, investment and a payoff. with this, i wonder they' so farhead of the curve for the shareholders can you see return anytime soon? no. messa: or being first in. >> this is long-term play. there is a advantage to beingfirst in. i look the way emerging market is in china, samsung is absolutelydominating. zzt, they are other manufacturers that use android as a operating system. we're looking growthing mom companies knots st google but partners. melissa: so interestin to see the way they're deploying technogy, because they can't do it traditiol ways d using television waves and usiig the imp. >> it is repurposing spectrum that was once ere. where tv is now they will deploy internet services, right? this is sort of lke a gateway ug. we were talking before the show. you give people the internet, all of sudden they're using it. melissa: right. >> they're putting on top of university tows and0
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elementary schools taking advantage of technology. you put it on a blimp and use low frequency spectrum. melissa: how many blimps are they going to fly around? >> it wa "wall street journal" article and theydidn't talk so much about the up aboutps. melissa: that was so interesting. todd, thanks for comoming on. coming up on "money," talk about a bridge over troubled waters. this bridge in maryland scares drivers so much they will pay to have someone else, wow, drive their car across it. details are next in "spare change." you n never have too much money if you will pay someone to drive your car over a bridge. that for sure. ♪ .
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♪ melissa: it is time growth fund with "spare change" and today we are joined by a dynamic duo, monica crowley and david asman. >> so happy. melissa: everyone loves >> so sweet. melissa: casting in on drivers fiers is proving to be a successful business in maryland. that's chesapeake bay bridge runs almost four and half miles long but might be the most terrifying for a half miles of your life. look at that if. >> that's if you're driving 150 miles-per-hour. >> in the rain. melissa: one company is
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capitalizing on it. they happily make the drive for you for $25 each way. the company has a rolodex of more tn 5,000 frightened customers. genius or scaredy-cats? >> i am anher classic customers. i have is thing about bridges. even ones that are just straightaways. i am scared of heights. i am the closed nature. melissa: they can get narrow. >> and this in particar has an up and down with -- >> not only up and down, but it also h a hairpin turn. by the way, i think this is absolutely brilliant. i love it. i love it when entrepreneurs find a way of monetizing something that we don't even think about off. this is supply creating demand. paul krugman, we will we talkin about him later. the supply creating demand. suddenly as 5,800 customers.
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melissa: then pass a law that says you can only have a government worke drive your car across the bridge and tax it. next up, planning on taking a trip thiyear? may be taken the consideration the number one tourist destinatio which is bangkok, thailand, what is even more surprising is th reason that thailand is being dubbed becaus ofa shopping. are you gng to go to thailand to go shopping? >> probably not. i don't think so. iactually edged out london. >> ladies, ladies you're so sweet. you really think it is shopping? thats what these guys are telling you. shopping. yes, of course it is. in a day of internet you can ge anything that you want from thailand or timbuktu over the iernet. people go, man go to thailand.
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did you ever see hangover to? that is what is all about. it is for e sex trade. i'm sorry. sex trade. sex sex, sex, that's it for. melissa: that's it? melissa: whenevert was there with a littl -- >> there are laughshat are worn in different places. melissa: i can't believe i walked ito that one. >> whate is saying is sexx cells. melissa: that is shocking. you know what, who knew? well, there is no lie, the united states has a fascinaon with the britis royal family. w the in-laws are coming to paid middleton -- take middleton's parents are plannin to expand their party supply business across the pond. i think this is a genius. d surprise the does not call party princess. what do you think? >> well, they say, and i don't know these people. maybe they mean well, but they say they have a desire not to embarrass a by being accused of cashing in on her royal standing . come on. they have party packs called little prince and though
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princess. that is not cashing in, i don't know what is. >> they' walking a very fine line because their daughter is in line to be the next screen, so there are some ethical issues , but i am all f capitalism. one day the family in the business. >> nothing to be critical about. melissa: everyone would be criticizing them either way they either shut down their business and then lived f f the princess of the rest of their lis there was a, you know, that is so tacky. you're living off your daughter. they have business. what betteplace to come to cash in an amen? this is it. teeth. >> kind of ironic. melissa: there's a show called "money". there's a reason why. >> adelle think it will be in new york, by the way. melissa: maybe we wl have th month. , michele. is one is an arid ack down. three toeconomists are doing over that nation. they posted a letter on the
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bsite, acontroversy of princeton ecomist, accusing him of unsold behavior in his critique of eir analysis of debt austerity. whose side are youne? >> rudd man is not uncivil. he is a nasty, liberal warm. unvil is such a kind word for what this guy is. he pedds in that information. he contradicts information that claims that the span of formion is the truth and everything else is a lie. melissa: and when he critizes other people he always sits below the belt. these guys say, we admire your past work, i don't know why, bu a deep disappointment that we have experienced your spectacularly a sensible behavior over the pastweeks. >> and good for them to read a lot of people are intimidated. david is right. he is a nasty, miserable, what wahuman.
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melissa: monica, don't hold back . >> he is really horrible, but when he attacks the other people . melissa:we have to go. there you go. >> the following is a paid advertisement from star vista entertainment and time life. >> ♪ you're the meaning in my life ♪ ♪ you're the inspiration >> ♪ that's how much i feel >> ♪ feel for you, baby >> ♪ how much i feel >> ♪ well, i need your touch >> intimate moments, cherished mories, unforgtable romances, the language of love can be sken inany ways. and thing ignites >> ♪ i'll always love you ♪ for the rest of my days >> ♪ a one in a million

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