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tv   MONEY With Melissa Francis  FOX Business  August 29, 2013 5:00pm-6:01pm EDT

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st. louis fed president james bullard. that's at 9:00 a.m. eastern on monetary policy. they have been watching comments from federal reserve officials to see what will happen with the taper. david: would be nice if they all would shut up, wouldn't it? "money" with melissa francis is next. melissa: i'm melissa francis and here's what's "money" tonight. bigger than chrysler. tesla motors is worth more than $20 billion. will elon musk blow past gm and ford next? a venture capital giant and tesla and spacex board member joins us exclusively coming up. plus a landmark settlement between the nfl and former players. they will get $765 million for concussion-related injuries. two former nfl stars including a two-time super bowl winner is here for reaction. "who made money today." the company he founded helped him zip up 402 -- $42 million.
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find out who it is. even when they say it's not it is always about money. melissa: we start with syria tonight and all new developments on the situation. the u.s. moved a fifth u.s. naval destroyer into position in the mediterranean. we're on the verge of attack after the horrifying chemical gas attack that killed at least a thousand people but how long will being on the verge last? seems like there's a lot of tough talk. not sure if that matters if there is no action that follows it. let's turn to the experts with more. we have former state department senior visor. mike baker former cia operative and head of a global intelligence firm and saudi jazzer. zudi, i want to start with you, what have you heard from the syria if anything. >> they're still on edge. they hear gunfire and helicopter
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gunships over head and a bomb here or there. but nothing has changed as far as the tempo that has picked up. if anything they're seeing more action on the ground. that is one reason yes w need something decisive not passive aggressive. assad will use this to kill more. ones we drop mills sill they ship bodies to the area and say our bombs killed innocents and be ready to give them a decisive blow. melissa: mike baker what do you read from what we're doing right now. there is a lot of talk we're sending signals we're on the verge, here we come and we haven't done anything. we're sending a lot of signals. are we as civilians reading what is going on incorrectly. >> no. we're reading the same mixed signals the rest of the world is. we're redenining the length of the word verge here. it is always good before you engage in military activity of any sort to have an endgame, to
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have a strategy. we're all kind of wondering with that endgame is. the next part, you know, once they said undeniable evidence and no doubt and they combined that with the red line and moral obscenity, then you would assume that somebody would have been a couple steps away from launching what we all know would be some cruise missiles. when they didn't do that you have to assume their calculation was, what is the least amount we can do right now to not draw in russia and iran and also not necessarily topple assad because we're all afraid of the vacuum that comes in behind that event? now, after all of this time, i'm starting to think, i'm not going to be surprised if we really don't do anything. i think they're looking for a way not to do this, to walk the dog back. melissa: christian, you're a former state department senior advisor. do you agree with that assessment? do you agree that is what is going on? >> i think it will be very hard for the white house at this point especially coming after 2 1/2 years doing nothing on this,
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saying at one point we're going to arm some of the rebels and not doing that and fiasco that has been policy in egypt, policy in libya and policy toward iran. i think delay is probably having to do with the british now. the british parliament balked at david cameron, the british prime minister when he said we're going in. the parliament wants to hear the u.n. report over the weekend and have a vote on this the white house is probably waiting for that. nowhere in any of this is any objective or national interest have been clearly explained. because you don't have an objective you don't really have a strategy either. melissa: it hasn't been explained to us. it could be there, it just hasn't been shared with the american public, do you think? >> yeah, i mean the national interests aside from the humanitarian one of hundreds, thousands on the verge of being killed. >> that is not a national interest. >> well the national interest is the regional problem as far as iran using syria as a client state. the fact that syria used chemical weapons without abandon, with abandon and iran
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having nuclear capabilities would tell the world, you know what? the west is not going to do anything unless it is clearly directly affected. this is much more than syria in the crossroads of a country that could have been one of the transforming countries in the middle east. we let it be taken over by one of the most vicious dictatorships which is beyond unhinged, the rebels, there is no future for syria and the region with assad in place the only positive avenue is with assad gone. melissa: mike, i know everyone is getting really impatient but do you honestly believe we would move destroyers in the area, do things we have done, president would say all the things he has, secretary kennedy would say, kerry would say the things he has and we would not go ahead and do something about it? >> yes. melissa: really? okay. >> i do think so because it is not inconsistent with sort of the way that the white house has conducted foreign policy for quite some time. all those things that sue. edi are absolutely correct. assad and father before him,
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they are butchers. we were led down the path for decade. we believe syria is the lynchpin of peace in the middle east. what a load of nonsense. i guess for the point being, all those are good reasons to be doing something, which arguably we could have started 2 1/2 years ago. but the point is from a tactical perspective we don't have a strategy. we know that they have already set out, the white house has said the strategy is not regime change. so what are you doing here if you fire off a few cruise missiles with no endgame. melissa: give me other side of this. what is the other possibility? that they are waiting for, you know, more backing from other nations, from other allies. what is the other possibility decides that we're not going to do anything? >> i think the possibility is they want a little more time, they want to build the case. in many ways this administration is stuck in the last decade, over the issue of wmd and faulty intelligence so they want to get the intelligence right but i don't think there's a strategy they're not telling us. i don't think they have a
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strategy. if you look what the administration has done they said assad has to go but now they say no regime change. supporting rebels problematically may power hezbollah or on the other hand may power al qaeda. there are secular forces involved in syria and we should back those. >> i will give you the last word. when is it too late? when is is too long? >> is it saturday, sunday or never? >> it is never too late for cavalry to send bombs. the anytime they need the help, courageous free syria army is doing a lot nor more that is what is making assad tremble. we're turning into laughingstock. the strategy threading the needle twine the two extremes. the middle eastern countries whether egypt and syria are proving they are no longer two evils of secular facism or theocratic fascism. the masses want liberty. problem his our president has
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not had a strategy for liberty and how to bond with the secular free syrians we mentioned exist. melissa: gentlemen, thanks so much. as always our thoughts and prayers are with your family and everyone standing by in syria. thank you. >> thank you. melissa: next on "money", fast-food workers striking again across the country, demanding wage hikes to 15 bucks an hour. do they have as from at this's chance in hello? we bring in both sides of the debate. more "money" coming up. ♪
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♪ melissa: turning back stateside to thousands of fast-food workers from across the country from boston to l.a. hit the streets demanding 15 bucks an hour. this is happening more and more frequently. we told you about the battle in seattle last week. at what point will they succeed with this or stop i wonder? we have both sides. we have formerly wrote a brief for liberal think tank demos, why fast-food workers deserve a raise. peter some berg, former chairman of the national labor relations
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board. great to have you both on the show. catherine, let me start with you. we have a parade of people who own businesses, who own franchise, who own larger businesses on and have asked them if you had to pay your workers 15 bucks an hour, they have said resoundingly they would be forced to cut their hours, to fire people. it wouldn't result in more take home money. how do you respond to that? >> you know the most profitable fast-food corporations in our economy actually do pay higher wages to their employees. not just to americans. in other countries there they are already paying 12, $15 an hour. our workers deserve to work with the same level of dignity as a worker in france or australia. melissa: peter what do you think about that. >> most of the workers in american fast-food, these are entry level jobs, primarily to a large extent, they're summer jobs. they're part-time jobs. they're second jobs in a very, in an industry where the profit is very low. let me give you an example. if operator has a million
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dollars in sales, his return will be about 10 or 15%. that is 100 or $150,000. from that $150,000 he must pay 4 or 5% franchisor tax, interest on the debt an has to pay taxes. and on top of that -- melissa: catherine, you were shaking your head know that is not the case. i have the stats in front of me. according to bureau of labor of at that statis, according to the government, 3/5 of earn minimum wage, 16 to 24 do something else. >> the fast-food industry in particular only, 30% of them are teenagers. actually 70% of the fast-food workers are 20 years old or over, adults any way you slice it. a quarter have kids more than a third of them actually have a college education. at least they have been to college or have graduated even. melissa: so what does that tell you? what is your point of that, then catherine. >> the point the fast-food industry isn't the industry you remember when we were flipping burgers in order to save money
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for college. it is not that industry anymore because we don't have that economy anymore. as jobs have grown over the past several quarters they have grown in the low-wage sectors, fast-food, retail, jobs that don't provide hours or wages for people to make a living but our workers have to take the jobs. they don't have any other choices. we're talking parents raising families earning $8 an hour, still living below the poverty line. melissa: peter, how do you respond to that. >> i share that concern, but catherine isn't addressing the facts. you can't get water out of a rock. the only way workers will get an increase in salaries one much two-ways. one develop the skill, get a new job, become really an expert in fast foods. open their own fast foods. the marriott corporation began from a hot dog stand. >> i actually agree with you. i aactually agree with you franchise workers have very slim margins. but the corporations, that charge those franchise owners exorbitant fees to buy into their brands, don't. mcdonald's earned $5.538 last
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year. melissa: we want to talk one at a time, so everybody can. catherine, everybody that has been on to respond to they will cut hours or number of workers if they have to pay $15 an hour. we had a coffee house owner from seattle on who said he would love to do this awants to pay everyone $15 an hour. it makes great sense. he will give everyone less hours and less time? are you okay with that, are you okay if some people get fired as a result of this? is it worth it for people that get 15 bucks. >> these low wage earners are not asking franchiseees to take on responsibility. melissa: you're not asking question, is it worth it if people lose their jobs. >> worth it we have the fast-food industry today, work hard and they get paid wages that push the costs -- melissa: you're not going to answer the question? >> push it on to taxpayers. melissa: give you one more shot. if more people lose their job, yes or no. >> fast-food workers need to make more than 7.25 an hour.
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melissa: never mind. peter, do you t is worth it to folks on this side, if some people lose their jobs so that others make 15 bucks or more? maybe it is? >> listen, of course it is not but fact of the matter, catherine is confusing. mcdonald's that earns the franchise fee is the not the franchisee. they are hurting franchiseee they're not hurting franchiser. melissa: okay. >> in addition you get the more money to the franchisee, higher wages, lower tax, lower regulatory burdens. melissa: we have to go. you can't respond, if you don't answer the question, then the you don't get to be on the show. thank you very much. >> i would love to answer the question now. melissa: now, you had some chances. coming up on "money", welcome to the new normal. where second rate reports on our economy are celebrated. this is as good as it gets but fear not, we've got awl-star panel how you can still make money. tesla and spacex board member steve jeverson, what is elon
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musk's big announcement next week. what is up his sleeve? will squeeze it out of him, damn it. you can't ever have too much money.
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♪ melissa: all right. you know what? it is time to face facts. what you are seeing and feeling in our economy today is the new normal. like the fact that we are celebrating an upward revision of gdp growth at 2.5%. it's horrible! but since we're a show about money, we want to talk about how you can make money and be your financial best in spite of everything that what is going on the we have a great panel to walk us through.
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gregory zuckerman from the "wall street journal" here. economist, harry dent and all-star economist, peter morici is here. welcome, gentleman. >> i just lost. melissa: uh-oh. we'll get that fixed. greg, let me start with you. this is the new normal. we'll not bitch about it. it is what it is, 2.5%. yea. maul business opt system up. in this -- small business optimism is up. how do you set yourself up to make money? do you start a business? what do you think? >> i'm a big win believer in america. if you travel to the heartland of america away from the coasts you see real strength in housing and energy worlds. so i would focus on domestic stocks. i wouldn't get involved in emerging markets for six months to a year. and i'm pretty excited about some areas of energy and in housing. melissa: harry, are you with us? can you hear us. >> keeps cutting out on audio. melissa: let's give it a shot before it gets worse.
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what do you think about all that? i mean would you get involved in stocks right now? i worry that stocks have all this false promise built into them. and they're going to decline for me but i'm trying to be optimistic, so what would you do? nope. harry can't hear us. >> can you hear me? melissa: go ahead. give it a shot. >> okay. i keep cutting out here. yeah, i think that we've just got another bubble building. every time we have a stimulus plan, like qe2, qe3, the economy grows for three or four or five quarters and it fizzles out again. we were near zero in the fourth quarter. so we're in one of those cycles. i don't think it is going to last past this year. i think this bubble, it is 16,000, we think that is as high as the dow is going to get. a little higher there. then each crash has been deeper than the last one after each bubble goes higher. so i see a big downside potential for next year. get out of stocks. get safe and be in the u.s. dollar. a real hedge.
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melissa: pete peter, what do you think about that solution? >> i think those are good stock choices in terms of how to situate a portfolio. but let's remember, the biggest investment people have in in themselves, their education and so forth and this is a very good time, with interest rates as low as they are, to start a business. or to look at, how your employers marketplace is changing and how you can help them exploit it. for example, if you're in retailing you certainly don't want to show them better way to do brick-and-mortar. you want them transitioning into internet which most retailers have not done very well. if you're a college professor like myself, exploiting technology. universities have been loathe to do that. they really need to do that to better service students. if you do that you will be a leader on campus and get a raise. melissa: peter, what do you think about that? branch out into something new. good time to take advantage of low interest rates. i like this. this is positive thinking. this is good way to take advantage current environment
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we're in. >> banks have -- melissa: you're being a pessimist like that. >> but, investors are looking to put something with their money somewhere and they can't get interest rates like they used to. angel investors are good place to turn. melissa: peer-to-peer. we did that yesterday on the show. >> new ways to take advantage of the that if you have a new business idea. melissa: harry you're back with us? can you hear us? >> yeah. melissa: you advocate hiding in cash. what about hard assets? what about buying a house with interest rates as low as they are, prices at a very low level. they're not likely to go lower from here. wouldn't that be a good solid investment right now in this climate. >> the whole theme of this, we had the greatest debt bubble in history from 1983 to 2008. that pushes up all financial assets. when it, when it shifts the other way and demographics turn down these bubbles all burst. here is the secret. in 2008 the last crash gold went down, silver wasn't down, commodities, real estate, stocks, international, emerging
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everything. there is nowhere to hide. you get in cash. let the bubble burst and then you can buy any asset you want at 20, 30, 40, 50 cents on dollar. including real estate. real estate is going lower. melissa: peter, do you agree with that? you're an economist. is real estate going lower here? >> it could. i wouldn't bet the family ranch. real estate as gone up and not approached its highs at all. precious metals may be a decent play. the reason now they have not been doing lately. people may rush to those in uncertain political environment. not saying put half your portfolio. but mutt 10%. not ad bad idea. melissa: training, greg, do you want to do that right now. >> don't leverage up. have a business idea, go back to school coup years and come back. melissa: everyone is positive except harry. what can you do. i'm just teasing you. next on "money", tesla is worth $20 billion, almost half
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the value of gm. we'll talk to a tesla board member about that, and about that announcement that elon musk has hidden up his leave for next week. "piles of money" coming up. ♪
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♪ melissa: shares of tesla motors are on a joyride this year speeding up a whopping 390%. wish i owned that stock. now tesla is worth more than $20 billion. that is almost half the value of general motors and a third of ford. not bad for a company that only makes three models. only expects to sell 30,000 cars next year so far. here with a fox business exclusive what is driving the success of the electric carmaker, steve jurveston, board
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member and with venture-capital giant, jurveston. i want to get right to it. is tesla a car company or tech company? do you care? >> that is interesting question. i do care. i think it is both. clearly it is not just an automotive company. they're pushing frontiers of technology from user interface and obviously transition to electric vehicles and how to build a great company in the modern era. the kind of amazing how many jobs they created in here in california when people thought it couldn't be done. melissa: when you look what has happened to the stock price, it has gone through the roof at least. analysts are starting to get nervous. investors starting to get nervous. stiffle nicklaus out with a report saying we believe valuation discussions must shift from one-hit wonder to long term sustainability and we think risks are underappreciated. how do you respond to that. >> i don't do public stoke
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trading for venture capital firms. i say there are always risks and opportunity. you won't have a entire industry shift from gasoline to electricity without risk. that is absurd. we look long term. that's what we do in our business. we look at startups 10 years later and have they changed the world? i think tesla will be one of the companies in the history books for having changed the world. melissa: at love company of course focuses on elon musk. he generates so much attention, so much excitement. he is a great marketer. most recently out on twitter, tweeting his first tweet was, we figured out how to design rocket parts, just with hand movements through the air, seriously. we need a high frame rate hollow graph generator, start about that. >> don't we all. melissa: i do. i'm always tweet tag about that. i'm waking up in the morning and where is my who graph generator. he said we will post video designing a rocket part in hand
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gestures and immediately printing that in titanium. what does that mean? what is the big announcement. >> sure i will obviously not preannounce his big announcement. melissa: come on! i can't get that out of you? >> you're a good squeezer and i'm feeling squeezed. and let me use hand gestures around jedi mind tricks if return. think about what he is saying. melissa: okay. >> your your hands in the air to design. spacex has to spend lot of time to innovate and designed systems at tesla. if people could create from the mind's eye, mind of musk into physical objects that seems like a dream world. officers step, capture something, hands let's say is what he seems to be indicating. fabricate that thing and the hologram would be the agreement. they have this enormous laser centering machine at spacex, takes titanium and with a laser, takes and creates 3d objects that are so strong they could be used inside rockets for testing. >> solar company, space company, car company. you are obviously someone who
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believes in elon and gets behind what he does. what else would you like to see him do? >> well, his life is young. melissa: yeah. >> only revolutionized four industries through multibillion-dollar success. he is obviously a slacker. i'm not so sure i wish more for him to do rather than his fountain of innovation is seems unabated. what will next come from his mind? who knows. that's why we stay tuned to his twitter feed. innovations are products for tesla and spacex. ideas for solarcity. ideas back in the day for paypal before the three companies he currently works with. i think he has plenty on his plate. a lot of inknow vision to come in all of them in space. we'll change entire industry how satellites are made and deployed. for example, watch the whole earth every day from every point, every single day. have video for news reporting, hd video from every part of the planet any way you want it. that will be available in two years. that is just space. we've just begun the crack the kernel of opportunity.
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elon sees a lot farther in the future to change than many of us like either or even mars. i don't think he is holding back on innovation front. melissa: you and others said he is very gifted architect. i wonder what he could design next. if we look at solar, cars, spacecraft. i mean throw one out there? what would you like to see him do? >> that wouldn't be appropriate because might imply what he is actually doing. a lot of things i would love to see him doing. i like my quirksy needs and what i know he is doing which i can't disclose? advance. in the domain of vehicles as you expect they will become more and more intelligent. applications that run in the vehicle will be more aware where they are and opportunities to inintegrate with your phone and personal communications devices offer as huge array of sort of wish-list items for me to do better job on navigation systems. do better jobs for eventually autonomous cars. these are all areas in active discussion in the industry and we'll look back one day and
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thought those things weren't available. they are available. because the car is a network computer of the just like the iphone. that is the fountain head of innovation. you get that device, boom, all kinds of things can follow. melissa: thanks for coming on. as always we'll keep a close eye on the twitter feed thank you. >> thank you. sure. melissa: turning to wall street around the big news that so-called last man standing with sac capital has taken his cash out of the hedge fund. investors have been fleeing ever since steve cohen's fund was indicted on criminal charges. we spoke to one of the very last holdouts right after the last redemption date two weeks ago. watch this. >> well i'm not sure what the concern would be because i don't know why i would, other than someone telling me i have to get out, which is starting to happen now because as fiduciary for a lost our clients, if there's a firm that is under indictment you don't have much of a choice. so i think that day is coming very soon. i'm not happy about it at all. >> break news. >> in terms of me being concerned about the assets being managed and how they're being managed i have no concerns at
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all. stevie cohen is one of the greatest manages of all time. >> you broke news. you say you're pulling your money out. >> no, i didn't say that i have clients invested and letters signed by them they want to be in there. i will have money in with sac one way or the other because i love that firm. melissa: okay. back with us again, today, both ed butowsky of chatwood investments and charlie gasparino with us. ed, i want to start with you. what happened? >> hello, charlie. >> just say i was right. just say i was right? i nailed you. >> let me say this. let me say this. i had, i was in a position and, that i had no choice because from the legal proceedings i had to take my money out of that because as a fiduciary i had to do that. once the firm was -- >> why didn't you just say that then? >> i am in every way, shape or form i'm going to find a way as things start to clean and things start to become a little clearer i will try to find a way to put my money back. why? because since 2008 he has
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returned three times what the stock market has and since 2008, again he has returned three times what his index, which is the long short equity managers have returned. he is one of the best if not the best long short equity hedge fund managers in history. if he is open to new money i'm going to give it to him. >> i will say this. you keep saying steve cohen is brilliant. i think you're brilliant. you used us for weeks on end, basically -- >> i used who? >> i do not begrudge you -- >> i used somebody? >> here's the thing, ed you knew you had to be out of this fund. you knew it. >> charlie, i resent -- make appointment very clear. i got asked to come on this show, charlie i got asked to, charlie, you know it that is absolutely ridiculous come men. >> why didn't you say you had ha leave? melissa: hang on. ed is right, we are the ones that approached him and asked him to come on the show. >> you do know the story is over the minute you say i got to leave? melissa: ed, i mean in fairness you were kind of both right
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because ed, you said the date was going to come soon. hang on. you when your lawyers would tell you had to get out and you were right. >> that's right. melissa: that day came and you had to get out. i mean, what you said -- >> it is hard to get past, charlie's statement that used somebody. melissa, if i can talk, the point is that i, i am actually made some phone calls and i'm going to see if i can get my money in. but i had to pull my personal money out along with my clients money at the same time. melissa: why did you have to take your personal money out. >> it is actually, basically if i left my money in there and things went well and took my clients money out i could have a legal issue. so i had to take my money out. charlie, i'm trying to talk here. >> when this broke -- melissa: let charlie respond. >> when this first broke, this is why i'm a little teed off here. we have talked about that there is obviously a legal liability for keeping your money in there. you knew it. we knew it. we asked. i know we asked you to come on the show. >> charlie, are you colding me? >> why didn't you just admit right then and there that you
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had a legal liability to take it out? instead we had the drama that went on for weeks? >> charlie, you know it? i didn't have any drama with anybody. i don't know why you're even saying what you're saying. this is kind of a silly conversation charlie. >> i'm asking. >> first you tell me i used people. now you tell my i'm disingenuous. melissa: ed, hang on. go made. charlie again. >> facts aren't true. people still have money there. i have a lawyer that represents my firm. >> name who no. >> charlie, melissa. melissa: ed, go ahead finish your sentence. >> what can i do -- >> pretty difficult to talk when charlie sick maaing these insinuations and, interrupting me. so let me finish. i had many conversations with my lawyer about my fiduciary responsibility to my clients. i didn't use anybody, charlie. and i resent that and i will always -- >> that is my opinion, okay and i think it's a valid. >> i don't care when your opinion is. >> i don't care what your opinion is. it is my opinion. >> whatever. this is ridiculous. melissa: hang on.
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>> my point is, from the minute that, zach was indicted, i'm saying at that they were guilty. i never v you knew it there is legal liability keeping your money in there you had to essentially pull it out at least he will clients to pull it out. your decision is your decision. that's what i'm talking about. melissa: ed,. >> what charlie just said isn't true. there are people who could keep their money in there and people who have kept their money there. charlie just not true. you know what i'm going to discuss my personal business with you on national television. if you want to call me. >> you discussed, you are by coming on here discussing your personal business. >> melissa, thank you very much for having me, melissa. melissa: thanks to both of you. next on "money", from the gridiron, to iron grills, two former nfl stars are tackling the world of franchise restaurants, making it the ultimate career play after football. they're here on how think did it. at end of the day, i think it is all about money. i'm not sure now. ♪
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♪ melissa: so as you know we love franchises here on money. i'm still dreaming of starting my own. it is not franchise friday, yet. but my next two guests are flourishing in the franchise game. they're former nfl players. brandon goren and tyoka jackson this taking their professional lives post-football into their own hand, i love it. running their own franchises. brandon own as marco's pizza and tyoca owns i hops. >> thank you, melissa. >> why did you choose ihop? >> growing up, my dad, brother and i were partners we loved ihop. it was easy choice for me because, you know, grew up loving their pancakes. who doesn't love ihop pancakes, they're the best pancakes in the world? even though as i did my due
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diligence, number one in family dining f you get in the restaurant industry and align yourself with someone, why not align yourself with the best, in business for 50 years, when you hang their sign ups instant credibility and name recognition? melissa: brandon, is it different from a former professional player when you open a franchise? when we say on the, have to be 3:00 in the morning when the pipe bursts to deal with the problem. i still, hard for me to imagine you guys doing that, necessarily. you're celebrities. you're athletes. are you, are you the nays of it or are you, you knee, the guy with the wrench down there dealing with your franchise? >> i'm hands-on and, i do, i mean i know what you're saying. people ask me that all the time. i'm not a celebrity by any means but, you know, i i haven't had to answer a phone call at 3:00 so i hope you don't jinx me. i can make a great pizza. i get in there and rubble bows
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with the rest of my employees if i have to. at this point i've kind of grown where i step back a little bit but at first i had to learn that and get involved and kind of get dirty i guess. melissa: let me ask you about some of the news of the day. first of all, workers across the country striking, demanding $15 an hour as their minimum pay. you guys both run restaurants where you have people working part-time. what would that do to each of your businesses. let me ask you? do you pay people 15 bucks an hour at ihop, and what would happen if you have to? >> i'm all for a living wage, melissa, but $15 an hour, that would really destroy my business to be quite honest with you. i think that there is a probably a number that was thrown out to get the conversation started. i'm certainly not against the conversation but that number, for me, you know, would be, not cost efficient and cost prohibitive to be honest with. >> how would you respond? brandon, let me ask you, how would you respond? would have you to let people go?
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would you cut hours? raise prices or -- go ahead. >> i think it would have to be combination of all three of those. i, like he said, i don't know, if it can make sense in business case make sense for us to do that now. melissa: yeah. >> without raising some kind of prices and kind of have some inflation in what we have in our product right now to make ends meet. but, i do, i do agree with, not afraid of the conversation and living wage being something that, sustainable for everyone. melissa: i don't want to let you go without asking you about the huge news out today in the nfl that 765 million-dollars settlement about concussion-related injuries. let me get, tyoka, what is your reaction to that? is that fair? is that right? >> to be honest with you, at first blush looks to be a little low to me, melissa. that number i think could be easily in the billions. for the long time the nfl has die need the correlation between playing football in the national football league and long-term brain injury. so i think the players, us
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players we've always, have looked at data says there is a correlation. i think willingness to settle, tells me that the nfl concurs. that there's something there but i'm not sure if you won't see a rash of players, maybe opting out of this thing. we'll see what happens. melissa: brandon, real quick what's your reaction? >> yeah, same thing. i, obviously it is new news and i don't know if i knew a number, to put a number on it before this. it is excited, i'm looking forward to knowing a little more details how i broke down, what is really going on with the settlement itself. melissa: okay. >> i'm excited about it. have some movement it is good to see and positive to see. melissa: i wish we had more time. i really applaud you. 78% of the players in the nfl are bankrupt or facing serious financial stress in two years. you took your futures and fortunes into your hands and did something bold. congratulations to both of you. thanks for coming on the show. i hope you come back. >> thanks for having us on the show, thank you. melissa: tomorrow is franchise
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friday, my favorite! tune in step by step. tomorrow we're doing staffing up, getting your staff together. all right, next on "money", it's a common practice among news anchors. about to go up in the air. drink a cup of coffee or slam four cans of red bull? dennis kneale, but new topical caffeine spray backed by billionaire peter thiel claims to give you the boost you need. it is all in "spare change." you ever have too much caffeine? i don't know. let's see. give it a shot. weird, right? is it strange? ♪ when we made our commitment to the gulf, bp had two big goals:
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♪ melissa: it is time for a little
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fun with "spare change." we're joined by recommend my spencer and adam shapiro. thanks to both of you. >> thanks for having me. melissa: we heard about this crazy caffeine boost. called sprayable energy. we tried to see if it works. the company was co-founded by one of peter thiel's fellows. set billionaire that offers students $100,000 to drop out of school and start their own business. sound great. this claims to give you the caffeine you need with just four spray, not in your mouth. you spray it, where is it? who has it? you spray it on each side of your neck. we have in the video. all did it before the show. equivalent of, here we go, of less than half a cup of coffee. that's nothing. and, so you tried it earlier. i tried it. what do you think? >> i think this is an interesting concept. it is a very smart business move because of course we know it is not regulated by the fda. so they can't make it and produce it without any delay. melissa: okay. >> i did put it on. i feel a little more energetic. i don't think i need anymore.
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>> i won't do it. melissa: you won't do it? why? >> i will quote a great scottish engineer who said, it's crap. [laughter] melissa: you don't think -- >> crack in beat. why? drink coffee is the better way to do it. melissa: true. adam, you dry three or four cups coffee a day. recommend my, you have five cups of kevcoffee before 10:00 a.m. >> i'm not a good kest test for this. melissa: how would you notice the difference? >> that may be true. there are limited studys. >> bingo. and you guys sprayed yourself with it. melissa: well -- >> there is something to be said not having to give yourself an ulcer. some people get jitters from drinking coffee. this is supposed to avoid that. melissa: you're worried, it has been such a show so far i think this is the least of the dangers i encountered so far. >> two words, fen-phen. melissa: fen-phen? no. it is spray caffeine. >> jolt cola. melissa: wonder do they make this in decaf? that was a good one, right?
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not a winner? >> channel number 28. melissa: what do you at this think patch? didn't make a difference? >> no. melissa: i got to admit, i feel a little jazzed but it has been that kind of show. >> kind of like relations without intimacy. melissa: okay. we'll skim over that. you know, what the teenagers are going to buy it and go crazy with it. there you go. >> i think it is an exciting craze. melissa: thanks, guys. up next, "who made money today." he can afford a mountain of new blue jeans after today's haul. we'll have the answer right after this. you can never have too much money. ♪ , customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. lower trade commisons than schwab, td ameritrade,
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>> whether on wall street or main street here is to make money today co-founder and chairman with expectations
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for the second quarter one of the few retailers not being slammed by cautious consumers and stocks soared 30% in he owns 12 million shares meaning he made $42 million today. that is a lot of change. anybody who owns verizon they are prepared to buy out with the 40% stake with the 3 billion net $130 billion the second biggest acquisition in history. in making money on her own tv network oprah ratings were the best in history in if that wasn't enough that network is in the black for the first time ever. that is all we have for you. we will see you at 5:00
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tomorrow. franchise friday. charles payne is up next. making your market. >> hello. thank you for being with us and it is time to make some money. tonight the 9,000-point rally rating -- waiting for the next crash? is an almost your and how to learn from it. of our panel is here to give us the best position. also is this good for the industry, the economy, the workers? stock up on good news. what does that mean? it is all coming up on making a market.

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