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tv   Varney Company  FOX Business  September 4, 2013 9:20am-11:01am EDT

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speech that i gave when i received the nobel prize and i can r-- i think i started the speech that compared to other recipients i was unworthy, but what i also described was the challenge that all of us face when we believe in peace, but we confront a world that is full of violence and occasional evil. and the question then becomes what are our responsibilities. so i've made every effort to end the war in iraq, to wind down the war in afghanistan, to strengthen our commitment to multi-lateral action, to
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promote diplomacy and the solution to problems. the question though that all of us face, not just me sh,me, our citizen's face, not just political leaders, is at what point do we say we need to confront actions that are violating our common humanity. and i would argue that when i see 400 children subjected to g gas, over 1400 innocent civilians dying senselessly, in an environment in which you already have tens of thousands dying, and we have the opportunity to take some action
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that is meaningful, even if it doesn't solve the entire problem, may at least mitigate this particular problem, then the moral thing to do is not to stand by and do nothing. but it's difficult. this is the part of my job that i find most challenging every single day. i would much rather spend my time talking about how every three and four-year-old gets a good education than i would spending time thinking about how can i prevent three and four-year-olds from being subjected to chemical weapons and nerve gas. unfortunately, that's sometimes the decisions that i'm confronted with as president of the united states. and frankly, as president of the united states, i can't
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afford those questions because as much -- as much as we are criticized, when bad stuff happens around the world, the first question is, what is the united states going to do about it. that's true on every issue. it's true in libya, it's true in rwanda, it's true in sierra leone. it's now true in syria. and that's part of the deal. what was the second question? >> i think we have great opportunities. i think there's a good chance for fredrik to talk about our shared views here because we have, i think, a joint belief that developed countries have to make progress, but we have to have an international frame work to address where the increases and emissions are now occurri
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occurring. >> okay, well, i think it's been a very interesting developing-- development up in copenhagen. and we were both present in copenhagen and said that the u.s. had the highest emissions in the world and that china was catching up. now only-- >> you've been listening to president obama holding a news conference in stockholm, sweden. he was asked directly by an american reporter would he act on syria without congressional approval. he gave a very long answer. he started out by saying, he did not set the red line. that was set by the world community right after world war i. he said, my credibility is not on the line. it is the credibility of congress that's on the line. that's what he said. he went on to say he did not actually answer the question what happens if it's a no vote in congress. he did not directly answer that
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question. he said, i believe congress will act and will approve action. that's what he just said. all right. liz macdonald is with me as we move toward the opening of the market this morning. by the way, the prison of -- price of oil down 18 a barrel as we speak and the stock market, the dow futures indicate a loss of maybe 20 points at the opening bell. i think you've got some market history. >> yes. stuart: about the delay before any action, go. >> if they're talking about a 90-day debate over what is in the nation's interest in terms of the strike on syria, we've seen in the past the market reaction to the threat of u.s. actions in libya, the sudan and serbia, in iraq. the market tend to go down anywhere from 3 to 5% over that period according to s&p data and creft has been studying it. if there's action, the market
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rallies, this is over look at history. stuart: they're looking at situations we're facing now, an attack, yes or no in syria. down what was it. >> anywhere from 3 to a little more than 5%, for the s&p 500. stuart: as you build up to attack, the delay period the market goes down. >> that's right. stuart: when the bombs fly, the market rallies and comes back again? >> correct. fully recovers in an average of two weeks' time. stuart: 9:26 eastern and small change, we're going to open this market in about three and a half minutes. now, clearly, your money is wrapped up in syria. attack, yes or no. that is the question and that's really dictating market action so far today. good morning, everyone, as we open up "varney & company." every headline about syria, every statement from congressmen, senators, world leaders, president obama brings a need financial reaction. today is going to be called a great divide.
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congress split. democrats, republicans split. the public overwhelmingly saying no to attack and the administration begging for a go ahead. and the markets are watching, a trend down for stocks thus far this morning. the dow probably going to open 25, 26 points lower and the price of oil, now, that is lower. look at this, we've got it down $1.11, 107 a barrel as we speak and gold is selling off. we're down $18 per ounce as we speak. matt welsh is with me, he's a libertarian. the libertarians are very much a part of this debate and you exercise considerable power within the republican party. am i to believe libertarians are universally opposed totally to any form of attack on syria? >> libertarians in congress right now, yes, amosh, rand paul, leading the congressional fight against this, against the wish of house leadership it should be said, john boehner and cantor have come out in
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favor. and libertarians say first of all, you need a constitutional system and they pushed the president into changing his mind on that. secondly to say, what is the objective here, who elected us global cop, the sole jury, judge and executioner of what over international norms we choose to defend at any given time. they have a lot of questions about that and that the actions that we have taken, especially in the last 12 years, have not gone as the enthusiasts like john mccain-- >> look, i think you've just wrapped up public opinion. i think public opinion is very strongly on your side for all of the points that you just raised, but i do believe that you have significant-- not you, but the libertarians have significant power within the republican parties these days, a great deal more influence and power than a year ago, three years ago. >> yeah, it's a growing block. it didn't exist before the tea party election and rand powell,
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and 2012 a lot of new congressmen like thomas massey in kentucky. you cannot in the 21st century have bipartisan that's so at variance of public opinion. we've got the internet and libertarians say we're on the side of the american people on this one and that voice is going to be heard and persuading people on the fence, maybe even people like marco rubio, otherwise pretty hawkish, he's listening to public opinion and calculating 2016 and is undecided. stuart: sorry to cut it short, but the president was speaking at length there in stockholm, sweden, not surprising. thank you for your opinion and appreciate your being with us. seconds to the opening bell. come in scott shell. a dy joining us from chicago, i say i'm prepared toer had a your point of view.
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i say it's all syria. that's the mover of the market. >> i agree with you. i'm not sure what's going to happen. i can guarantee one thing, it's going to be messy. i think if the guys on wall street are looking if we have a negative downward movement because of syria, it's probably the last buying opportunity before the end of the year. and still good buying if the market sells off because of syria. stuart: we hear you. the market is now opened this wednesday morning and we're expecting a drop of about 20, 25 points in the very early going. yeah, the opening trend is down. okay, we've just heard from the president. that's going to be a factor on the market today. he has said he believes that congress will give approval for an attack. he didn't say what he would do if there's no approval. he said i believe congress will say yes. all right, move on. look at the price of gold. that's down this morning. we're off $19 an ounce and that puts us back below $1400 per ounce. a quick check of oil.
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remember, please, we've got the inventory number coming up at 11:00 eastern because of the shortened weekend. but right now, we've got oil down $1.27. liz, i want you to repeat, because i think it's very important, this history of market action as you run up to a possibility of aattack overseas. >> that's right, again, according to s&p 500 data and tkref. it looked at this. when there's a terrorist attack, the nations, financial collapse, libya, serbia, iraq, the market will decline during a period of uncertainty of an attack, it doesn't know what's going to happen. down turn from 3 to 5%. >> there's no question, you've got uncertainty in the marketplace, uncertainty whether or not congress will say, yes, go ahead and attack.
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uncertainty on what the president will do if congress says, no, don't attack. we simply don't know what's going to happen. >> that's right, stuart, and the president indicated as much when i said there will be a debate over the accuracy about our information on the chemical attacks in syria. so, if we're talking a 90 day debate which is some in d.c. are projecting, then you will see the rocky motion and action in the markets right now. >> take a look at the big board again, this is the opening of the market on a wednesday morning when the president is speaking about a potential attack on syria. congress is debating it in washington d.c. and we do not know what's going to happen in the future. right now, we're down just nine points. oil is down significantly, gold is down a lot. okay. and here we are this wednesday morning, i've got another headline for you. and it is on this-- well, hold on a second, i've got individual stocks.
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linked in. first of all, they're raising a billion dollars by selling more shares, so, nicole come in. what's the stock doing? >> right, raising a billion dollars. we do see the stock on the down side. and william blair has the form on the company saying it takes advantage of the share prices and falling back. you know that lincoln has been an outstanding performer, up over 100% this year. >> thanks, nicole. i want to get straight to a headline that i'm going to bring to you on the subject of oil and the headline actually comes from michael kay. a former advisor to the u.k. ministry of defense and michael is here with us in new york today. michael, you say, good morning, when the bombs fly, the price of oil goes down, straight down hard, right? >> well, if we look at empirical evidence, stuart, the price of oil slumped in 2003 when the u.s. made the very contentious decision to go into iraq. if you look at may 11 when gaddafi was toppled and by 10%. there isn't necessarily a
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definitive correlation of all prices surging whenever there's a contentious foreign policy. we have to look at history, really, to get a feel for-- >> what you're saying, what liz wi was telling us, buildup to any attack the markets goes down. bombs start to fly and stocks recover. the equivalent in oil is that the market pushed the price of oil up in the run-up to attack and you're saying, again, empirical evidence, oil comes down when the bombs start to fly? >> i think all the other things we've got to remember about this, 35% of all of the oil that is provided globally comes from the middle east. there is a slight difference with syria in that syria isn't a massive exporter of oil and that's obviously going to have an impact on what the oil futures do. and as well, stuart, whenever we have contentious foreign policy, whether it be foreign policy or monetary policy we see increased volatility in the markets and we've seen that with the notion of energy strikes and the market didn't
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take it favorably. the markets recovers when david cameron was overruled by parliament. and then down 30% when boehner expressed his support for the foreign affairs committee on this resolution. stuart: so we're all watching every single statement, every single headline, we're reading between the lines of president obama and maybe putin as well, and the congressional democrats, congressional republicans, every headline has potential to move the market. >> how about iran react in the state of hormuz, in the event that the u.s. does strike syria? >> i think that global lines of communication are key. if you look at egypt and the global lines of communications there, if you look at union iran and the straits of hormuz, i think it will have an impact on the emerging markets. rupe is down, since april and an exporter of oil, that's
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going to suffer the most on increased oil prices. if you look at the link between what the stock market is doing and western economies in terms of growth. we know there's been pa disconnect in terms of stock market highs and sluggish growth. according to u.s. gdp growth up 2.5% and manufacturing indexes across the u.s., u.k. and china all up at the moment. if we look long-term, i think there are significant underlying data and trends to support economic growth to override what might come. >> we've been showing you the price of a fourth stock all the way through the interrogatory view because ford reported it up. and the market likes that. and 1658 as we speak, a gain of 1 1/2%. do check apple, please, it's above 500, a buy rating from cantor fitzgerald. apple is expected to unveil the latest version of the iphone next week.
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498 as of right now. apparently, i keep using that word, but this is the case, more groceries and brand name products driving product at the discounter dollar general. up 20% this year. and another 3% today. then we have the discount airline, ryanair disappointing outlook there. it blames the weak economy in europe and a weak found sterling. this is the modern bus service, nicole, how bad are the stocks performing? . nicole: it's up 14% and a lot of people look at ryanair as an indicator and often called things early. you have the ceo saying he has no doubt that the market will be weaker than the industry is expecting over the next couple of months. so, they're trying to have some aggressive pricing, trying to get ahead with this, but the demand has been down, as you noted, the sterling has hurt their numbers and overall, not good news. it's at that i canning down some of the airline and other travel type
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. stuart: nicole, thank you very much indeed. i want to give everybody the big picture. we're down 30 points on the dow, 14-8 and small change. oil down, gold down. now, nokia, is that deal with microsoft good or microsoft? oh, everybody's got to remember, please, i own some microsoft stock. market watcher shah galani is with us, you're buying microsoft? >> buying today. a particularly wonderful point. it's in between the 52-week high and the lows and we like it here 31 and change. stuart: hold on a second. when we announced the deal, it was announced, microsoft is buying 7 billion worth of nokia's patents and the device business. that deal was universally panned, desperation, said the pundits, but you say, no, it's a good deal? >> i think it's a great deal. regardless what the price is they're paying, they're paying in cash. that's not going to affect the
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balance sheet. it's an opportunity to leapfrog into where they've been lagging. yes, i think collectively together, including management changes this is going to portend for microsoft, it's a great development. i see it as very positive. stuart: you think that microsoft can get big in mobile by acquiring nokia, which virtually has no position in mobile. >> don't forget that nokia was a leader in smart phones. >> it was. >> and it came down and apple was a leader and came down and revived. and ibm was a leader and came down and revived. and the microsoft and the nokia platform on microsoft sort wear, on its phones, i think it's going to be terrific. i think the next, three, five years, probably 10, 15% of the market and growing. stuart: that's music to my ears, i must say. thanks for coming by, shah galani. before you go, i've got to ask you about tesla, which do you
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like better the cars or the stock? >> i like the cars, the limited models i've seen all over the place. stuart: you see them on the street? >> i do. stuart: you live in florida. >> and out in the hamptons and see several out there and also in miami. they're beautiful cars. love the cars, hate the stock. i wouldn't buy-- i think there's a shorting opportunity for it, it's close to its all-time highs. the trajectory of the stock fright iffens-- frightens me. another one of those stocks that have been shorted repeatedly. and some of the big stories that have been the shorted stocks. stuart: squeezed. >> higher and higher. stuart: that was true of nokia. >> true of herbalife, netflix and tesla, too. stuart: you're a contrarian these days. >> here and there. my purpose it to make money. stuart: now you're talking. shah galani, thank you indeed. the big picture, check the dig board opening with a 20 point
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loss. there you have it, gold down, oil down, the president speaks in stockholm. we've had 3-d printers on "varney & company" before, but after this break we have one unlike any other in the industry all part of our 3-d printing coverage. ♪ (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade.
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>> now you may notice that the dow is turned around. it's now up three points. maybe that's got something to do with senator john mccain who said publicly, he will not back the senate foreign relations committee vote on whether to approve an attack on syria. he will not back it. up goes the dow. we told you. any headline from any
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statement, any politician or leader, market reacts. the look at the price of gold, still down though, $18 an ounce, look at the price of oil, still down about a dollar a barrel. $1.39. 107 is your price. you've got to check ford's stock. sales up 12% in august over july and up their production about 7% in the coming forth quarter of this year, stock is 2 1/2% higher. now look at apple, a smart watch from samsung, a waterproof phone from sony and iphone 5 is coming up. stock is at $500 a share. could this be the 3-d game changer. it uses office paper for high quality models. and this one print in full
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color. m-kor's founder is with us. before we start, you've got an array of products that you have printed with your machine. i'm going to-- i can't show them well on tv, but i'm going to hold them. this looks like a great fruit. it looks like a half orange, a pretty good view of that. this is made out of paper. it's printed in one of these machines. welcome to the program, thank you. stuart: and a head. this is you. >> no, our sales director. stuart: very, very sorry. and it's a model of the man, right, the sales director. >> absolutely. stuart: how big is this machine? >> the machine is around a meter cubed. stuart: pretty good. >> pretty big, more like industrial. stuart: how much. >> $47,000, it prints. i think that's the wrong word. >> yes prints. stuart: models of stuff you want to create? >> we looked at the industry and wanted to create a machine
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to revolutionize how people communicated and quite simply that machine takes your digital design and makes it into a physical object. how we differentiate ourselves from everybody else, it's at an extremely lost cost and in color and environmentally safe. that's the difference between us and the others in the industry. stuart: i can imagine a dentist's office, this is a print outof a human jaw and be precise from an x-ray picture. >> we have a surgeon in belgium that takes ct scans of people from are maxo facial surgery. they use it as a form for titanium plates and use it afterwards, prior to surgery and far less invasive. and saving one error on the operating table. stuart: you have an accent,
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you're an irish man. >> yes. stuart: is this based in ireland or american. >> we have offices in ireland and dealers in manhattan and-- >> public for private? >> private at the moment. stuart: you really want to do an ipo, don't you? >> it's an exciting area at the moment and look at the applications and people come to us literally every day, can i used the printer for this and that and architects, product designers, anybody that visualizes in 3-d and color is most important to them. stuart: okay, you've got. a bottle opener printed from paper and i can use it to open up a bottle. >> yes. stuart: look, all kinds of examples here, what is the potential market? >> i mean, you know, it's well documented the market is going from a 2 billion dollar industry to 6 billion dollars, that's quite small. stuart: rather small.
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>> it's pretty good growth and seeing 800% growth in our sales and doing every two weeks what we did all of last year. the whole industry in the consumer segment is going to-- for example, people who can't afford to buy a 3-d printer will in time go to a staple store and pay for the content. they won't be buying the machine, but high color content from the industry. stuart: what's the name of the company? >> m-kcor technology. >> thank you, stuart. stuart: stay right there. i've got to do stuff with the audience. public opinion really clear. do know the attack syria. after the break though, i'm going to make my case why we should. my take is next. ♪
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>> toyota sales numbers came in for the month of august up 22% and the stock is up about 1/2%. coming up new at 10:00 we get
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the latest vote count whether congress will approve action in syria. and direct from congress, marsha blackburn is here, republican tennessee, is her vote a yes or no? we are going to ask her. plus, unions going broke, but trying to force farm workers in california to join unions and lawmakers there are helping. what? and dr. keith ablow puts the entire football loving public on the couch. why do we love the nfl despite its faults? let's get right at it, shall we? here is my take on syria. president obama is now talking to foreign leaders in europe and russia trying desperately to drum up support for some kind of a tack. virtually no alice over there. and back at home, a narrow yes vote is expected, but john mccain will not vote yes. he just said he votes no. in the house, despite what
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speaker boehner recommends, a no vote is likely. no attack. public opinion is very clear, voters overwhelmingly say don't do it. your opinion, also, very clear. stay out, you et our enemies kill each other and many of you make the point that this is a mess of the president's own creation and we should not rush to bail him out. opposition to any strike, widespread, understood, i got it, but my personal opinion has not changed, doing nothing, in my opinion, is the worst option. doing nothing invites further atrocities. nothing nothing em boldens our enemies, especially iran. follow this thing through. if assad walks away without penalty, who is next for a gas attack how long does it take for the sarin gas or a nuke to arrive here? look, i understand that attack could make things worse, got it. but i'm arguing a point of principle and that is, the lone super power has a moral
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obligation to act when a rogue state uses weapons of mass destruction. i believe this question rises above ideology or politics and i repeat, doing nothing is the worst option. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us ththat you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions...
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now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ >> wednesday, septs 4 #th, the president's in europe looking for support for an an they competitive advantage syria -- for an attack on syria. your money at stake, and we have this for you. blackburn, republican of tennessee, how will she vote?
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he's with us in new york. rich edson this washington counting the votes in the house and senate. in california, unions wage war on family farms. we've got a report for you. the gladuaters return to the football field tomorrow. what does dr. keith ablow think about this most violence of sports? speaking of violence, with a few rules thrown in, the king of boxing promoters, richard schaffer is here. the fight next week may break all the records. ♪ check the big board, picture of the market, moves with every headline on syria, and it moved on this one. senator john mccain says he will not back the senate foreign relations committee resolution to intervene in syria. mccain says it's not strong enough. yes, he wants to intervene, but he doesn't like the wording of the resolution. also, president obama says he
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expects congress will approve military action. the dow is now up 27. the price of gold, straight down today, $22 lower at 1390 #. oil, that's down too. remember, just a few minutes ago, we had a gust on the show who said when the bombs fly, oil will drop sharply when that attack, if it begins. to rich edson in washington. rich, the hill, the magazine newspaper says it is a new vote coming up in the house. can you give us a vote count? >> can't give you a vote count. it's too early to tell yet. there's a number of lawmakers who have to get in town. congress is in next week. i have to say speaker boehner, cantor tame out yesterday for intervention does help chances, but this latest mccain news, stuart, is troublesome for republicans who want this to go through. it's playing out. still too early to tell. remember, stuart, the whipping
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operation, that's the operation that usually goes through to get folks on board. leadership will try to convince members to vote for something. republicans are not whipping the vote, but leaving it up to the white house, and historically, relationships between lawmakers and the white house are not that great. >> i woke up to a headline this morning "support builds in congress for u.s. strike against syria." seems like maybe that is edged away from that with the mccain statement today. do you agree with that, rich? >> with the mccain statement, but, again, he's not saying he's voting against intervention. he doesn't like the bipartisan plan that a democrat and republican in the foreign relations committee put together. he wants to influence it. it could be mccape trying to push draft legislation in another direction they will be working on in committee in just a couple hours. >> thank you very very much. bringing in the republican congressman from tennessee. can you tell us what your vote
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is, yes or no? >> i'm a lean no and waiting to get that detailed intelligence briefing on monday. >> are you in a somewhat similar position to senator john mccain who wants to intervene, but doesn't think the wording of this senate foreign relations committee memorandum is strong enough? >> you know, stuart -- >> you're leaning the other way, no, aren't you? >> i'm leaning no. what i'm concerned about is the additional impact and the additional requirement this administration puts on our men and women in uniform, but continues to cut their money and resources. i have a military post in my district, fort campbell, and we are very concerned about the pressure that is there, and you're looking at an administration that cut nearly a trillion dollars out of our military budget, and -- >> are you saying we can't afford it? >> i'm saying we have to be mindful of the pressures that we are putting on the resources, the redeployment, retraining, retooling, and the families of
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our military, and we need to realize that we are asking a lot more of them, but continuing to put less of our resources there. >> sure. can you give us a sense of the feeling in the house of representatives? the leadership, john boehner, he says, back the president, he says, do it. what about the troops on the ground? could you -- can you give us a vague vote count? markets are watching this very, very closely. any headlines move the market. >> they are watching closely. there are a lot of member, and i never speak for another member, but i think a lot of people are like me. they are waiting to get that detailed intelligence briefing on monday, and they want to hear what the president's plan is. every military action should have a defined reason, a defined mission, and execution plan, and an exit strategy. we want to see that. bear in mind we've not seen that with iraq and afghanistan and libya and pakistan and egypt and now we're talking syria, so
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there's a lot of questions about the president's leadership or lack thereof. >> can the president say, i'm going to do this, this, and this, support me. can he be that specific smit >> i think the president has to be able to make his case, and he has to be able to make that in a classified setting to the members of the house and senate and define what he is going to do, what's the execution is going to be and what the exit's going to be. >> okay. you have not moved the market. it's up 27 points, and, chaferls, i'm out of time. >> okay. [laughter] sorry, charles. >> send me an e-mail, i'll answer it. >> thank you very much. >> we appreciate. you're leaning no, we got it. straight back to the market, general motors' sales, up 15% year over year for the month of august. 15% up for gm, 12% up for ford, 22% up for toyota. 35 bucks a share on gm. new numbers show that president
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obama's economic policies are still not working. in fact, the very people who voted for him are getting hit the hardest. here are the numbers. first, single women with or without children, they have seen income fall nearly 7%. next, african-american heads of households, incomes down 10.9%. hispanics, heads of households, income down 4.5%. last, the youth vote, those are the high school diploma or less, incomes down about 8%. i don't believe, charles, that this is what's the president's constituents who voted for him, i don't think they expected this. >> no, nobody expects that when you vote for whoever you pull the lever for, but it's the accepting -- the acceptance of it that's bothersome. you know, the idol worship of president obama, the idea that everything he does gets a free pass, and it's not his fault -- by the way, if that theory trickles down, even when the president spoke on the anniversary of mlk's speech last
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week, he talked about young black men doing things that were wrong, but also gave them a free pass because of the injustices of the past. we hear it all day long, in the press conference in sweden. all i heard that it's everyone else's fault. they call me names. i don't know. you know, i got to say as a black man, i'm disappointed with this, and i'm disappointed we just don't hold the president accountable, that we put so much of our faith and love and everything into this president, and all we've gotten from him are excuses. i don't accept it. >> we need growth more than anything else, growth. >> we need honest and positive messaging and growth and embrace what made america great in the first place. we don't need to dismantle it for something that's quote-on-quote, fair because it's backfiring. >> well said, charles. apple, right there at five a share. give me the latest quote. >> yes, stuart, we were looking at -- well, apple, okay.
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apple at 498, originally at 50 # 2, awaiting news from apple on some temper checks for the iphone 5s and 5c, and this on the same week we talk about the samsung wearable devices beating apple to the punch. >> yes, i'll get to that, not iwatch, but -- >> i said iwatch, wearable devices, but "i" is exclusively for apple. sorry, i didn't know i was on right now. i wear a fox jacket while i work and reading. >> excellent, congratulations. i wore are jacket like that. they make them in my size. speaking of samsung, we were a moment ago, they debuted their smart watch today, it's making entry in berlin. you're looking at reportedly leaked pictures of what could be the time version of the smart watch from samsung. tech world says it looks like a clunky mess. i don't know that i go that far.
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mark is with us now, laptop magazine's editor in chief. what do you think? if the smart watch looks like that, is it a breakthrough product? >> first of all, it's not going to look like that. a lot of time, prototypes and images circulate until product launch and a refined product hits the market. i think that's the case here. i think that the smart watch category in and of itself is a niche category with a lot of education that has to happen. >> it's not the next great big thing to follow the smart phone or replace it? >> no, but it's going to compliment it. the idea of a smart watch is a smart phone companion. we check our phones up to 150 times a day. the idea is you get notifications on the watch saying that message is worth responding to, i'll do it now or ignore and do it later. what i hear about the smart watch is that it syncs with your phone so if you open your message, look at the phone, it's automatically open to the app associated with that
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notification. it could save people time. >> you're a techy, aren't you? >> yes, i am. >> you do this kind of thing, wouldn't you? >> yeah, i would. well, i think it's going to come down to batly life. like, i hate having to charge another thing. >> it's coming down to will other people other than techies duped the smart watch. >> think about it, the target audience that they are going after, the youth market, a lot have never worn a watch ever. they use their smart phone to tell time. they are going to need to push the envelope with what else can you do with this thing? there could be a built-in camera. i heard there's exercise features build in for people who want to -- >> people love the exercise things, the nike fuel bands are hot, but could it cannibalize the smart phone market at some point? >> overall, i think the overall wearable tech market, like google glass, lumping them in one category, that's to grow up to 170 million by 2017, but the
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smart phone itself, even though a lot of people say innovation is on the decline, they are building out the ecosystem so the smart watch, google glass, they are all connecting to the smart phone. the smart phone is like that personal hub that's going to sit in your pocket, and everything else connects to it. >> sony, they are just releasing this water proof smart phone. >> right. >> when i looked at that, i thought, what, are you kidding me? i realized that a lot of people drop their phone in the bathtub, shower, and, yes, in the toilet. >> it happens. >> yes, it does, is -- so i'm told. you think this is a big and important innovation? water proof smart phone? >> yes. sony did it last year, another one with the experience e. this is a follow-on to that device. remember that samsung has its own water proof phone for at&t calledded the galaxy s4 active. this is its own subset of the smart phone market. the deal with this phone is it's a 20 megapixel camera to compete
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with the nokia1020 with the 40 megapixel camera. it's cool, but i don't know that it's a must-have feature. >> you must have it. i know that you have it. >> already has. >> got three. [laughter] >> mark, thank you very much, sir. >> thanks. >> the agricultural center in the country, but if a union gets its way, that could change in a big way. we'll tell you about it in a moment. ♪ ♪ [ male announcer ] at his current pace, bob will retire when he's 153,
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nascar is about excitement. but tracking all the action and hearing everything from o marketing partns, the media anmillions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. >> as everybody knows, the nfl regular season kicks off tomorrow, and the super bowl champion ravens are officially promoting obamacare in the state of maryland trying to get people signed up for health care exchanges. that's what they are up to on opening day. according to investors business daily, 258 employers cut hours, jobs, or taken other steps because of obamacare. that's a big number, charles. >> it's a big number. these are small, successful
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businesses. i think we need to make a distinction. you know, these are not businesses with just two people or someone working in the garage. these are small businesses that incubate, that grow, and make the difference in the overall u.s. economy, and they are taking the decisive action, and, by the way, this list grows every single day. it's a survey the paper's doing, and as they continue to go out and look around, the number grows exponentially. >> you make us money, and today you say that sandisk is the way to go? >> love the action, strong volume. i'm surprised the stock is not already up. revenues up 43% year over year, 10% quarter over quarter, growth margins up from 40% year over year. 40% quarter over quarter. they changed the model, embedded chips are a bigger part of the revenues, bigger margins, tremendous pipeline. number four in patents in the pipeline after ibm, samsung, and
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google. it's a cheap stock. every way you look at it, it's cheap. >> what do they do? >> flash chips, the flash chips that go into all devices from phones to pcs. >> memory. >> memory, right. >> thank you, now i know. >> okay. >> the united farm workers union, muscling its way on to california farms. itments to force workers to pay dues. also, the union can increase membership and collect more money. that's an opinion. the "wall street journal" brought us this story, and that, i believe, is your opinion. >> yes. >> muscling their way in? >> basically, they bonded the workers, come back and say, we still represent them, and we want their money. >> hold on a second, is there one particular farm or farm company attacked? >> well, in this case, it's fresno, the best employers in farm employers in the state. >> family farm, isn't it? >> family farm, third
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generation, they pay for the workers' education, english education, offer best benefits in pay in the industry. they are being targeted because they want due money. >> they are well paid workers on the particular farm or big family farm. they are well paid, conditions are good. what opportunity is the union to muscle in in that situation? >> well, in this case, they are invoking a law, state law, passed to a -- enable union to have the workers abandon them how many years ago and force a contract without using collective bargaining. >> is there any proof that if they were successful and they unionized this particular farm, that the workers would get a pay increase or a benefits increase? >> no, in fact, the employer has
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just increased their wages even more. they wased the wages by a dollar per hour, and unions demand is they want 3% of workers' wages. their wages could be cues because of the contract. >> do the workers on the farm know this? >> yes. in fact, over around 1500 have signed petition to desert my the union, and they are trying to ourself the union because they feel they are coon thed. >> why do you think the union could muscle its way in? everybody opposes it. how can you muscle in on that? >> the state is helping them. >> really, the state is helping them? >> agricultural labor relations board, equivalent of the nlrb, making decisions that are in favor of the union, and the state legislatures push the union too. >> so the state says unionize, we support the union on this.
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we'll make it happen. is it fair to say that? >> there's in democratic legislators and left leaning academics and those who sit on the board, the boards that are doing that. >> when do we get a decision? >> within the next two weeks. >> tell us how it goes. appalling story. it is. "wall street journal"; correct? >> yes. >> thank you very much, indeed. see you soon, i hope. thank you. dow's up 47 points now. okay. football. i'm going to call this -- charles, watch out -- a gladeuater culture. at the core, a violent sport. >> yeah! love it, america, baby, you just described it! don't change it. >> excuse me. until the nfl brings in billions this year, oh, yes, they will, and tens of millions of people watch every single game every week. does football get a pass?
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he's waiting. i'll ask him the question. that's dr. keith ablow. watch out, doctor, here i come. ♪ ♪ the boys used double miles from their capital one venture card to fly home for the big family reunion. you must be garth's father? hello. mother. mother! traveling is easy with the venture card because you can fly any airline anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing contest and go! ♪ win! what's in your wallet?
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>> now we're up 50 points. this may have something to do with senator john mccain who says he will not support the senate's continuing resolution, giving support to president obama to attack syria. mccain says, no, iemg not supporting that. he wants something much stronger. the market went up when he said that. to nicole, dollar general, a new high. come on, nicole, tell us why. >> yes, looking good. the same store sales on the rise. they outpaced the rivals like dollar tree and walmart and family dollar. they had a great quarter. they are sticking by the lowered forecast, but did well boosting the tobacco products, brand name products, food, candy, snacks, those are the things that help dollar general along to each the new high. >> 5% gain. we'll take it. >> yeah. >> thank you, nicole. football season starts tomorrow night, and millions tune in to
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watch the most popular sport in the country. why are we fascinated in a violent sport? why do we let football steroid users off the hook in the court of public opinion? dr. keith ablow is here. sir, it's a violent sport, steroid use acknowledged, some of the players have criminal records, are we giving football a pass? oh, he can't hear me. ha-ha! that's why he chugged a little coke right there before -- he didn't realize he was on. he is on. can he hear me yet? no, he can't. he can't. i'll talk to charles. he probably knows more anyway. are we giving them a pass? >> absolutely. >> do you approve? >> i approve for what it is. it's like watching a violence movie. it's like, you know, listening for an adult to listen to music with violence lyrics. we have a violent streak in us
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as human beings, and it is a gladiator sports, trace it back to that movement, and people love it. they relations committee ire it. >> there's no question that it is thee sport in america today. i mean, it's totally eclipsed basketball, hockey, it was never in the picture. >> by a million miles, by a long shot. >> i can't remember the number of billions they bring in, total revenues this year, but approaching $10 # billion. do you approve? they are getting a pass. do you approve of it? >> well, i didn't approve of the way they handled the old injuries and old business as usual, north dallas 40 thing they took for granted. i'm glad that's resolved, but i think it's adults who go to a game, make a lot of money for doing what they do and take risk, and, you know, i enjoy watching it and love big hits. >> you know who is in my ear in social security not the doctor,
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but it's nicole. you have an opinion on giving a pass to football? tell us. >> yeah, well, first of all, i love watching football. i love the athletic idea of football, and all athletic sports take all kinds of risks. look what happened to lipped see vaughn; right? skiing. there's risk involved all with what goes on in sports overall, but i love watching football. >> you do? >> i do. >> watching tomorrow night, i know you will. >> i do. i love it. it's great. >> by the way, everybody, dr. ablow finished his coca-cola, and he's probably going to be paid for the commercial begin to coke, but he's back, and i believe he can hear what i have to say. >> now, i can. >> it's a violent sport. steroid use is acknowledged. we know it's happening. some of the players have got criminal records. i say they get a pass. are they? do you approve? >> well, number one, i think the nfl has work to do in the cases that involve any criminal path, and certainly any drug use.
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that goes without saying. i just don't see the difference here, charles, between that and -- stuart, sorry, between that and any sport like boxing, extreme fighting, professional wrestling. are we going to start outlawing all these sports? isn't it like buyer beware? when you sign up for a sport, don't you take into account, hey, i could get a head injury or repeated head trauma, a terrible thing. i don't know if i'd do it, but it seems to go with the territory, doesn't it? >> yeah, look, i 1100% agree with you. i know that in the sport of soccer, there is a movement in america to stop the heading of the ball, you know, how in soccer, sometimes you put your het on the ball and get it in the goal, whatever, there's a movement in america to stop that because it's dangerous. i think we are being way overprotective, and i don't approve. i think you agree. >> look, i think i definitely
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agree, hockey, football, boxing, surfing, diving, we got to make a decision. if we're going to outlaw sports, that's a different matter. >> okay. >> all of the sports have inherent risk that's part of the ground here that people tread when they involve themselves in the sports including wrestling. the bottom line is that is the nature of the business. sure, should we embolden helmet companies to be better at this? provide a bounty if they are? maybe. you can't tell people, don't do this at all because you have to outlaw so many things. >> you know, occasionally, you get it right, you really do. >> it's every time i get it right every time, and sometimes you need to be brought along. that takes me time and effort. that's extra, by the way. >> yeah, i'm sure it is. >> yes, that's extra. you will get a bill. >> ha-ha, dr. ablow, always good, thank you very much, sir. >> all right, brother.
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>> a set back for e-cigarettes. one woman claims one blew up and shot flames as it was charging. make no mistake about it. the feds want to step in and regulate what is a billion dollar a year industry. all rise, the judge on e-cigarettes next. ♪ ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above.
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♪ >> bring in sandra at the cme, john mccain says he's not supporting the senate plan for intervention in syria saying it's not strong enough, and the result, the market goes up. i say this is still all syria all the time, and are you going to argue with me? >> not going to argue with you op that one, stuart. this market is waiting for any decisive action from washington. you've got the oil market held captive, the gold market held captive, and oil prices down more than a buck. the oil market's pricing in not an imminent attack that takes place. gold prices down 22 bucks, biggest single day drop in gold and silver, by the way, stuart, seen in over two months. a lot of the premium is sucked out of the market right now. >> you anded traders and ourselves watching every
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statement and headline because it moves markets. all right, thank you very much. >> thank you. >> dow's up 53, by the way. a woman claims an e-cigarette blew up while charging. i don't know what "charging" means, but it shot four foot flame, she says. the government's trying to regulate these things. is there an effort to kill them? kill the industry before it gets off the ground? all rise, the judge is here. i think they are. they are banned on trains. >> they are banned in some places where tobacco a products are banned even though the eforts by the food and drug administration to regulate e-cigarettes as a drug were rejectedded by the court, but as a tobacco product, they were accepted by the courts. before you get into the regulation, the rules that govern the regulators, if you can imagine there are such rules, requires that they conduct certain studies and make
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such findings, and they have not done that yet, perhaps, because the product is so new. >> in the case of the woman in georgia, the state of georgia has a strong, progressive liability statute. she's already producted. you can want put a product in the market with a design flaw or manufacturing flaw such as it explodes in her face, whether the specific product is directly regulated by the state or feds or not. she has a cause of action for any harm to herment i understand the harm was fright rather than physical. >> it's lawyers and regulators ganging up on this industry? >> well, here's the question. do regulators want to put this business -- put this industry out of business, or do they want to regulate it so they can tax it? >> they want to milk the heck out of it p on the phone: so they make money from it. >> yeah. >> you have an industry that's about to explode on to the marketplace because they have portrayed themselves as a less
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harmful, but if you get accustomed to it, i'm a nonsmoker, so i don't know this personally, but if you get accustomed to it just as gratifying a tobacco product, it is clear that it is far less harmful. if they can portray it as less harmful, less expensive, and less dangerous, but gratifying, where is it going to end up? big tobacco buys it. they want a portion of the market. >> it's a nicotine delivery system, isn't it, without the tar? >> yes, yes. >> a pure drug injection into the lungs to get the effect of the drug. >> now, i would like you to say again what you said. it's a pure drug injection. that's the argument. the very argument. the very words in the argument that were made by the food and drug administration before a federal court in washington, d.c. last year, and the court rejected it. they said it's just a sophisticated tobacco product. it's not a drug delivery system. you can't regulate it like it were. that finding by the court was made after a trial, after people
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chanced what the fda did and they resisted the challenge. >> nicotine is an addictive drug. >> there's no question. >> no question. >> however, the fda's ability to regulate nicotine is limited to the ability to regulate tobacco. it cannot regulate nicotine the way it regulates as prip. >> yeah. bottom line is, and i agree with you and i think charles is as well, they want to regulate it. they don't want to ban it. >> you know how many states tax it now? one, maine. all other states, it's not taxed as a tobacco product. if it's a sales tax, pay that tax when you dwet it, but you don't pay the additional tax. >> if it's a sin, syntaxes, sky's the limit. >> it's the most effective way of quitting regular cigarettes. tobacco is the only product in the united states of america where the taxes on the product
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are more than the value of the product itself. >> fascinating. >> yeah. >> hey, judge, -- >> fascinating we let the government do that to us. >> you couldn't resist, would you? >> no, i couldn't. >> judge, thank you so much, sir. >> pleasure. >> boxing, a big money sport, and there's a big fight coming up this month. here's the question, will mixed martial arts and ultimate fighting take over in place of boxing? we got a boxing promoter on that after this.
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♪ >> head's up america, switzerland is the world east most competitive economy for five years straight now. the world economic forum bases the assessment on infrastructure, health, education, market size. singapore and finland remain in second and third place. google teaming up with hershey to name the latest android operating system. google is known for nickname, its android operating system does that frequently. in time, it's the first time that a brand name candy has been chosen. kitkat. advisories lifted as several communities threatened by the rim fire, the fire that started 18 days ago, about 80% con taped now, the fourth biggest wildfire on record in california. all right, next, talking to a
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boxing promoter about thee big fight, the mayweather fight. tio, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. but with advair, i'm breathing better. so now i can help make this a great block party. ♪ [ male announce ] advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers
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stars step into the ring putting their undefeated records on the line, one of the most anticipated matches in history, expected to set an all-time pay-per-view record. big stars including alvarez. here is the ceo of the golden boy promotions. richard, welcome to the program. >> thank you very much for having me. >> okay. now, you think this is going to break your own record of revenue for a pay-per-view boxes match; right? >> it has the opportunity. when we went on sale with tickets for the event at the mgm grand months ago, within less than an hour, we sold out all tickets establishing a new life gate record for boxing. >> tickets at the performance. >> at the performance. >> at the event itself. >> yes. >> how much do you charge, pay-per-view? >> 64.94 for standard, and 74.9
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a for hd. >> back in 2007, that was the record, was it? >> that's correct. >> with two and a half million homes signed up. >> correct. >> can you get 3 million this time? >> it's interesting. i feel confident from a growth number of point of view the number is broken because hd then was not as big as it is today and price is a few dollars higher as well so to break the dollar record, you look at two million homes to break the pay-per-view record, it's two and a half million homes. i think both records are within reach. these are two huge stars within the press tour, we had hundreds of thousands of people following these, and it's an amazing buzz. >> you could bring in 200 million bucks. >> yes, i anticipate it to be a $2 00 million night. there's a guaranteed purse of $40 million, and -- >> mr. alvarez?
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>> 10 million. >> 40 million, 10 million, leaving 150 million. >> they all get heavy, heavy pay-per-view upside. mr. mayweather is like his open promoter, the highest paid athlete in the sport, in any sport. >> last year of any sport. >> exactly. >> we can get more than 40 million. >> mayweather could walk away with a hundred million dollars in one night if that really performs the way he anticipates. >> you represent him? >> i work with him, yes. >> are you his agent? >> no, he's self-managed, self-promoted. since he won against hoya back in 2007, we have co-promoted all fights. >> i've given you a commercial for the fight, and now you have to give me information. what's your piece? >> well, we are going -- we work on a commission so it's going to be very small -- >> how much. >> a few million dollars. >> a few million dollars? >> yes. >> out of 200 million, you only
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get a few million? >> we do about a hundred events a year so we work with the volume, not on one particular fight. >> out of 200 million, you get ten? >> less than that. >> less than that? >> less than that, yes. we believe in empowering the athletes. >> oh, please, come on. >> that's what we do. >> we had a production meeting this morning, discussing you and how much money you bring in. there was a suggestion that maybe pay-per-view is killing, hurting boxing because i used to watch boxing with my dad on free tv. i wouldn't dream of paying for it. >> well, you know, what happened, the number of pay-per-views in boxing over the last years drastically reduced, three to four. before, it was a pay-per-view a month, something ufc still does. i think it's too much. i believe, as well, we have to give the fight fans, the sports fan free content.
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>> limited, limited supply, maximum demand, up goes the price. is that economics? >> there's a lot of promoters out, it's a competition. it's good. >> will be a good one. i'm going to have at least a hundred people at the house for this one. >> are you? >> yeah. >> you're his customer. >> i am. i'll have it on seven tvs, a hundred people at the house, and split down the middle on who they are rooting for. >> you did not invite me. >> you have an open inviation. you still have to hit the pool with me, but you, for some reason -- and bring the water proof phone with you. >> what a great deal. i mean, talking about a hundred people at the house. >> oh, yeah. >> ttat's paid. >> if they were chipping in, but, yeah, you're right. [laughter] >> give another opportunity for you to commercialize this interview. we wish you the best of luck. >> thank you very much. l watch. >> thank you very much. >> appreciate it. >> thank you. >> a liberal hollywood big shot has sights set on senator
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mcconnell, what? raising millions against mcconnell. dealing with that in a moment. ts can save by sharing. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we'rloving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's taken care of. this is pretty easy, and i see it works on hotels too. you bet. now if you like that, press the red button on top.
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♪ how did he not see that coming? what's in your wallet?
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♪ >> the democrats' biggest hollywood donor, dreamworks animation ceo is focused on
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defeating mitch mcconnell in the 2014 midterm election sending a letter urging democrats to open the wallets to his rival, kentucky secretary of state grimes. charles, you're not surprised, are you? >> not surprised, but when you say, golly, why it hollywood concerned about it? this is -- you talk about being a big game hunter, you bring down mcconnell, he would be not only the hollywood team maker, but a political king maker. by the way, he's not vibing for the job. mayor bloomberg and his committee go out there, you know, a little small races across the country, you've got people setting themselves up as king makers and politicians who are really something of -- >> the voters of kentucky hear about this, big time hollywood guy, big time mayor of new york getting involved in that kind of fight, i would have thought that would turn the tide against. >> i think it does. there were a few democrats who asked them to get away, please, don't come to my state. >> checking the market fast,
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back above 14,9. mccain does not support the senate resolution that backs president obama attacking syria. he wants to go much further, but he says it's a no on that resolution. the dow's up 69. more varney in a moment.
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thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.
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my take on whether we should intervene in syria. i.t. said it is the option. christian says the united states is afraid to act because of public opinion. they will not back up what this a with force. that is the lesson we are teaching our enemies. louise ads are we still superpower? obama has worked at making us just another country no better than any other large country. on twitter c. daniels says it is a lose/lose for us. either way we could be looking
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at world war iii. that is always extreme but i stick with my position, doing nothing is the worst option. what say you? charles: christian dovetails what president obama said today. we didn't make this line in the sand, president obama did this and it is unfortunate. we should have taken care of this as the nation two years ago. didn't have to come to this. i am so torn because 100,000 people have got already. i thought the obama doctrine, we would never let a dictator slaughter his own people. i didn't know there was any -- a certain kind of weapon. i am complete the coin. stuart: our viewers are excited on another issue and that is fox business getting on x m satellite radio. you can listen in your car walking down the street, hear what charles payne has to say. charles: and then call your
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broker. stuart: october 18th, we will tell you when we find out. dagen mcdowell. the mac you get it from me, i am excited being on serious acts them. the credibility of the world and congress is on the line. that is what president obama said this morning when asked about a response to syria's chemical attack. give me any reason to talk about cars and pickups, auto sales are still hot. can keep on trucking even if interest rates rise? younger workers are seeking since for themselves but in absolutely the wrong way. jasey is selling his stake in the brooklyn net and the new minority owner definitely have the best interests of the team in his mind, all that and the lot more this hour of markets now. ♪

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