tv MONEY With Melissa Francis FOX Business October 10, 2013 5:00pm-6:01pm EDT
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week. how if going? how many people have signed up? "the willis report" has a special call-in show, 9:00 p.m. eastern time to have answer all the questions. david: that is 9:00 p.m. now "money" with melissa francis. stay tuned. melissa: i'm melissa francis, here is what is money tonight? do we have a deal? gop lawmakers are meeting with the president right this very minute. will enough republicans get on board to end the debt ceiling standoff? one is here to on the very latest. unprecedented step towards accessing cheaper prescription drugs. a new law in maine could change the cost of medicine across the country. we'll tell what you every patient needs to know and what it means for your wallet, and it is a lot. who made money today. his company is getting socked but he scored $200 million today. stay tuned to find out who it is. even when they say it's not it is always about money.
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melissa: so it seemed like a possible break through on capitol hill but maybe it's really not. house speaker john boehner offering a plan to raise the country's debt limit and president obama meeting with the speaker and other republican leaders to go over the new proposal right now. the white house though still says that no matter what, the president won't negotiate with republicans until after the government is reopened. so much for the stalemate beginning to thaw. we're set to reach our debt limit in one week if congress can't make a deal. joining me from capitol hill is republican congressman, rodney davis. what is your impression where we are right now? are we making progress or not? >> you know, melissa, i was hoping so until i heard some of the comments you just made about what president obama wants to do and what harry reid doesn't want to do. the fact of the matter is the american people are tired of washington not working together
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to come up with republican and democrat solutions and finding common sense solutions. just because the president has made statements that he doesn't want to negotiate doesn't mean that that is a good decision on his behalf. melissa: no. does it mean he really won't though? we always think from the outside that could be a lot of bluster and posturing and hot air. we hope behind closed doors you guys are getting closer. is that not the case? >> i hope that is not the case. i hope he is bluffing on this. what we've seen over the last 10 days of this government shutdown he hasn't been willing to negotiate. neither has harry reid. we've been passing clean, bipartisan spending bills that would have opened up over half of government right now. they situating for harry reid to take them up in the senate. i was optimistic, melissa, the plan speaker boehner laid out would get harry reid and barack obama to the table to do what americans want us to do which is work together. melissa: do you have confidence in the idea, put off the debt ceiling for six weeks and bought
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enough time to talk a little more to make progress, do you think progress could be made in that period of time towards a real solution? >> well, if there's a provision in there that requires the president and the senate, the house to come together to work as a team to find a solution, then yes, i think it's a good idea.3 otherwise -- melissa: wait, wait. what does that mean? what would be a provision that would require people to come together? it seems like we'll let the debt ceiling go for six weeks, set it aside and in that time get3 together and talk. dd you think there would be a actual provision to require everyone to sit down and talk? >> with the rhetoric coming out of the white house and senate, it may need to be. we may need conferees to sit down and have the negotiations the president says he doesn't want to have. melissa: if you're very cynical you think that putting off in six weeks we'll end up in the same spot we are now but with six weeks more anticipation and market being nervous, could that be the case?
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>> well it very well could be. i think these artificial deadlines america is becoming numb to need to go away. there is a better process. i remember congress used to work. washington wasn't broken. we went through our constitutional appropriations process where we passed individual bills and had better effect on policy. we were able to get toward a balanced budget and put a down payment on the national debt. we need to get back to that. melissa: when was washington wasn't broken? i feel for my entire life they have been fighting in washington and it is frustrating to the american public. was there a time it wasn't like this. >> i think so. there was fighting and debatinn going on. that is part of the system our forefathers designed. go back to newt gingrich and bill clinton. they couldn't get along to sit where on air force one. they came together and came up with the balanced budget agreement of 1997. they put our country on the
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prospect to prosperity and working to get america going again. melissa: they shut down the government. it took them to get a crisis to that point. let me ask you if the date gets closer and closer october 17th, when we hit the debt limit there is debate what happens that day. jack lew said he wouldn't prioritize payments. this idea we take in 234 billion in tax revenue per week and would only take 18 billion of that paid back out in order to pay our mortgage and not default on the debt, he says he won't prioritize payments. goldman sachs says it is believable that is not possible with 4 million payments going out per day. on the other side, somebody like moody's says it absolutely is possible. you can decide which bills to pay and which ones not to and prioritize it. what is your impression what will actually happen on that day? >> we have never gotten to that day in this country. america has never defaulted on its debt and there are a lot of unanswered questions what could or could not happen. i don't want to get to that point. which is why we caa't give
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anyone the ability to actually inflict a painful situation upon the american economy like they inflicted right now upon our veterans trying to get into the open-air monuments and children who need cancer treatments through trials at nih. we passed bills to open those monuments up. we passed bills to fund the nih. it has all become political gamesmanship here in washington. it drive as new member like me crazy. melissa: and the public as well. congressman, thanks so much for coming on. appreciate your time. >> thank you, melissa. melissa: next on "money," a game-changer for prescription drugs. maine is letting state residents get cheaper medicine all by legalizing imports from foreign pharmacies. don't you want that option? we've got the details every patient needs to hear. plus pay back for a u.s. raid against al -- al qaeda. libya's prime minister is abducted at gunpoint and freed. its government is looking like it is losing control. if worth the cost for the u.s. to come to its rescue? we have one of the region's top
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scared. it could have a huge impact on you and your wallet just as health care costs are skyrocketing for many. maine is now the first place allowing residents to buy mail-order drugs from some foreign pharmacies. that means much cheaper prescriptions. of course this is hard to swallow for u.s. drugmakers. here with his take on the issue is dr. kevin campbell. dr. campbell. thank you so much for joining us. let's start with the most basic questions. why are drugs so much cheaper in canada? when we look at the comparison in pills, for example, we have the example of nexium. you look at total cost for aetna here in the u.s., it would be $621.08. it is bought from a canadian pharmacy it is $200.90. i mean wow, $421 difference. why is it so much cheaper there? >> we have no regulation of drug costs here in the u.s. there is no negotiating what these things cost. in canada they actually cap the cost of drugs there. that makes a big difference. melissa: it does but as soon as
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you start talking about price caps and price controls, it makes me think that if drugmakers were only selling drugs in canada they wouldn't develop the same drugs because there isn't the same financial incentive. >> there is concern abouttthe money it takes for research and development. melissa: yee. >> i think we've got to do something here. the u.s. can not continue to bear the entire burden of the drug costs. >> meantime maine is doing something about it. they see these very cheap drugs right across-the-boarder and they have said that they are going to allow, you know, large groups, especially we're looking at maine state employees association. they have a pending contract with a canadian based broker, can that, rx, the one we were talking about. could save the union's health plan, 3 and $5 million a year by buying drugs over the border. how do we know it is the exact same thing? because the fda is not involved, right? >> there is no regulation and that is the big concern. there are pharmacies overseas and canada that are legitimate and have pure drugs.
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there is a risk you take that they are impurities in those drugs. if you find one that has been, vetted i think you're pretty safe. melissa: is that what it comes down to? would it be insurance company? would it be the individual? if this got to be a bigger thing. that is a huge problem, when people go on line and buy drugs from other countries they think are cheaper even against the law, they manage to get them through, they have no idea. it could be anything. >> that could create a real health risk. you may not get the dose you think you're getting. you may not be even getting the drug you think you're getting. there are big enough pharmacies overseas and canada they have good reputations. we may be able to trust them. melissa: there was one group in portland, maine, for example, legit script. they went out and watched they had concerns about canadian pharmacies. they found one of the canadian pharmacies was outsourcing prescriptions for americans to turkey and india. the drugs were not coming from canada as they thought. they were bringing them in from
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somewhere else. that is a major danger, right? >> right. quality control. if this ultimately becomes commonplace u.s.wide we'll have to have the fda step in and begin to vouch for pharmacies and regulate the drugs as well. >> what are the chance this is is going to become a bigger thing? they have been fighting about this for a long time. the fda ccn not be happy about the aw in maine. can one state change the rules and import drugs when it is not legal for anyone else? >> i think you will see some court battles. certainly the pharmaceutical industry is interested continuing to charge high prices here. however one of the problems the healthcare reform in obamacare does not address high cost of prescription dangerous. that in my opinion is a major short fall of the law. melissa: although not going so well for rest of obamacare, getting them involved in drugs at this point might be putting too much on their plate. >> exactly. we can't even get people signed up at this point. melissa: right. what would you say to your patients? if they wanted to get cheaper drugs in canada, would @ou be concerned? there's a lot of things.
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for example i was read about one case they were saying they couldn't vouch for the supply chain. that the drugs, for example, had been kept to the right temperature. you know, during transport. so would you, do you feel like this is safe? what would you tell your patients? >> honestly a lot of my patients are cash-strapped in rural north carolina. i would advise them to give it a try. i would monitor them very closely and make sure they're not having side-effects. tough get these medicines to the poor any way you can. melissa: you don't worry about the drug industry, this would inhibit r&d over the long term? >> i think ultimately they will accept whatever new pricing scream comes up because they don't really have a choice. i still think they could make a good profit and good living selling drugs at more affordable prices. melissa: interesting. thanks so much for coming on. >> thanks for having me. melissa: coming up on "money," libya's prime minister is abducted by gunmen and then freed? all in retaliation for last week's u.s. raid against al qaeda. should we send more aid, more
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money to libya's government to fight the chaos? one of the region's top experts weighs in. plus, taking its business elsewhere. the debt ceiling fight and government shutdown may cost the gop one of its critical allies in upcoming elections. big business. we'll tell you why. don't go anywhere. do you ever have too much money? no way. thrusters at 30%! i can't get her to warp. losing thrusters. i need more power. give me more power! [ mainframe ] located. ge ep-sea fuel technology.
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melissa: turning to libya now where a brazen kidnapping of the prime minister is stoking growing concern about the nation's stability. prime minister ali zaden was released today after being abducted at gunpoint. he was held for seven hours by militia members which looks like payback with his cooperation of
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a anti-terrorism raid by the united states the u.s. spent $117 million in aid to libya since the 2011 revolution. if the head of state is kidnapped in broad daylight, can we really believe that money we're send something having any impact at all? walid phares, fox news middle east terrorism analyst. thanks for coming on the show. this is a very crazy story. you're talkkng about the prime minister, who you would think would have all the security being kidnapped by the militia which by the way is assigned to protect the country's parliament. then he is freed seven hours later. is this as bizarre as it sounds to us here? >> more bizarre to this. this militia is a jihadist militia. it is headed by somebody who in the past gotten training from al qaeda, okay. in addition to that they have a contract with the ministry of interior. you just said not just to protect the parliament. it is for the ministry of interior to provide
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anti-criminal activities. this is very serious and i would suggest here that, when we think about the next foreign aid to go to libya, i'm for sending foreign aid to libya, we have to be very specific and detailed which ministry is getting this and make sure we're not paying the wrong people. melissa: it seems like the classic problem with these situations. making sure money doesn't go to the wrong people. how do we know who the right people and wrong people are? >> first of all the state department should talk to congress various committees to determine who are the right people. one of the ways to do that, those hearings, proceedings allocation of money. we have representatives from civil society. they are our friend. non-violent people. done demonstrations in egypt. @e know what they can do. they have never been consulted. we need friend in libya to consult officially. not just some shady subcontractors in libya who happen to be militia people. melissa: it seems like it is
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total chaos right now. some would say we're putting good money after bad to work here when you know the sides keep changing, you don't know who is who. why not sit on our sidelines with the dollars and let the dust settle a little while longer and then get involved? >> if it will settle without our presence it will settle against us. what will happen, the militias those who attacked us actually in benghazi and kidnapped the prime minister in tripoli will rule the country. stop the money, way we are sending it right now. create a partnership with people, even with minority whom we have eye-to-eye policies and move it forward. i would bring it down to 50 million, back to 100 and more with the right people. we need a change in policy here in washington. that is the problem. melissa: meanwhile their economic growth is totally stalled. you know it is an oil producing nation but production basically ground to a halt. how dangerous is that, for stability in the country?
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i mean if there isn't any stability how much does it hinder opportunity having stability down the road. >> what is going wrong with libya. economic mismanagement. can't have economic mismanagement or management at all doesn't have a government centralized without militias. there is tunnel libyans and us will have to go to. disarming militias. if we don't do this libya will be another afghanistan with libyan taliban. that is the reality. melissa: turning to egypt it is a similar situation, we're talking about stalling aid. they're not giving them money. when you look at money that has been spent, it doesn't seem like we're getting anything for it. what is your opinion on that situation? >> i would differ on this one. i would say libya is a jungle. we need to find our ways. egypt basically is a place we know very well. we've been there for 30 years. we invested in them. they protected suez canal,
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sinai, with israel and al qaeda. you had revolutions and chaos and muslim brotherhood took over. the mistake was done over the past two years, we partnered with the wrong people. go back to your point number one. with the brotherhood for years. now we have the good people, what are we doing? we're cutting off. egyptians told me, many officials told me it is not about the dollars but symbol. even if you achieve one dollar, it will send the wrong message to the wrong people. that administration of the united states is against the egyptian army, against the egyptian people. that is not a good policy. melissa: seems like we really blown that one. it will be difficult to get that back on track. walid phares. thanks for joining us. >> thank you, melissa. melissa: from the u.s. to every corner of the globe money has been flying aroond the world. chemical inspectors from the u.n. visited three key sites thus far. they will visit more than 20 locations as we work to destroy syria's chemical stock pipes. -- stockpiles.
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the pentagon is not missing a bite. they are urging them to buy equipment from the u.s. they reportedly cost hundreds of millions of dollars. looking to make a buck there. now to china, it has overtaken the u.s. as the biggest importer of oil. according to new data from the energy information administration. in september, china imported 6.3 million barrels a day. the u.s. brought in a paltry 6.1 million barrels. landing in sweden. author alice monroe proving she a all money today. the canadian writer won the nobel prize for literature. she is called the master of short stories and the 13th woman to win the prize. she will take home $1.2 million. very nice. next on "money," the drastic difference between how big and small businesses are dealing with battles in d.c. big business is ready to ditch republicans by the side of the road. small businesses support the
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melissa: some -- companies such solid growth for same-store sal. clearly not spooking investors. nice pop in the stock. big business and a grand old party. as the government shut down nears the end of its second week, interesting and unexpected impact on how business groups are reacting to some of the more conservative lawmakers they have been supporting. some businesses even warning that the fact that certtin
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primary candidates, just passed gop lawmakers who helped make the shutdown happen. here with more, sir jacob and know well. let me start with you. you know, you look back at the way that business has been money. for example, the american bankers association spend 80 percent of the funds during the 2012 election to republicans. is that going to change based upon this? >> i think right now we are feeling the ramifications for a lot of people that have been blaming the extreme rogue tea party side of our party for some of the shutdown even though, you know, we were right to do some of the things that we have done so far. but i will tell you that we are, right now if you are asking for money now, which i am a fund-raiser and have experienced some brushback from some of my candidates, especially some of my federal candid it's because of what is the line on in washington d.c. right now. i will tell you, overall it will be a glitch or a bump in the
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road and that we have a better platform, and economically more sound platform that is going to continue to appeal to big business, so i think it is just a bump in the road. right now the question to answer, we are getting a little push back, which is unusual. melissa: i mean, you think that business is really pushing back, is -- big business, bankers ambushing back rather than applauding republicans for standing up and saying enough is enough. i am sick of overspending. no? >> well, the republican party is a party of business. if people businessmen in general and people from the u.s. chamber of commerce they have raised again and again the issue of the deficit, but nothing did they approve of the way that it is being handled. melissa: like what? >> the shutdown which is going to -- are long it takes to make is going to a shade at least a little bit of economic growth. more importantly, the debt ceiling standoff which can be catastrophic.
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even if we get to the 11th hour and then we reverse it, the whole act of going up to the brink has disrupted financial markets already. it is dangerous. melissa: has its? i mean, we have not seen anything taken off of the stock market. whenever decline that we saw originally from the original shutdown the market has made its way back. it seems like so far the damage has not been that great. no well, you know, what if we get up to the finish line and republicans actually extract something out of this, they get some sort of concession? >> well, melissa, fund-raising dollars are not as predictable as they used to be for the grand old party and for the democrats as well. you know, we have gone -- look at governor christie attracting dollars to of fund-raising dollars from the ceo of facebook, a notorious democrats. you have a lot of this going on,
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but in the long run depending upon the ramifications and the market, you know, with the feeling of people with congress, you're going to see a little bit of continued suspect. and i think it will have to get smooth out, and you can see what happens and what is gained in order to get the train back on track to getting those dollars back. melissa: i would ask both of you, republicans would say, what we have been doing has not worked. look at this. we are getting crushed and elections. it has not worked. maybe it is time to try something extreme even if it means short-term dollars. spencer, what do you think? >> well, i think it probably will be looked back upon and say that it backfired. i am not a political analyst, but the situation i see most analogous to it is 1994, swept into power. the government shut down in '95-'96, and it was largely of
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the republicans rather than bill clinton who caught the blame. clinton went on to a landslide victory in this next election. melissa: but he always seemed to pivot, and it is unclear that president obama will really do it. it does not feel like there will be some kind of grand bargain. when you look back -- look back at that time whether it is for not the way that history is talked about at this point is that there was sort of a pit. what do you think about thiss >> i have to tell you, unlike the clinton deal, you have president obama coming out saying that he is not going to negotiate, but high the gop gets the overall unanimous vote for blocking and holding the americans hostage with the shutdown it in the you have the president saying he is that going to budge. this is very difficult. it is a spot that we thought maybe could take as and push it back and read brand ourselves better, but instead is still
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getting us looking like some of the people said, we are tea party gone rogue. melissa: let me ask you before we run out of time, how are you holding up? is this a frustrating time? hard time raising money? how are you holding up? >> i just of the phone with one of my candid it's about to go to d.c. and he is experiencing a lot of push back from a fund-raiser that we have because of the shutdown. i had to cancel to events in dallas, texas, for another candidate that i had because of the shutdown. i am frazzled. have been working all day trying to rearrange things. i am in it, working in it. i am telllng you as it is happening, is a mess. melissa: in it to win it. thank you for coming on the show. we appreciate your time. spencer, thank you as well. now to how small businesses are reacting to the government shut down. surprisingly many are saying it has up their bottom line. the small business administration has been deemed nonessential.
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it sounds like less government meddling might be a good hing. john roberts is here with more. sammy and right. what do you think? the sba fronl the end. a little bit of a debate. even in the face of economic hardship, many small businesses run by republican, even some government contractors, still standing shoulder to shoulder with republicans in congress on the shutdown. one of those people is jeff ever sent who owns and runs and-gun relic shop near the northern part of georgia. much of his business depends upon tourists to visit the battlefield which is closed, so his business is down. he has sympathy for people who are, like him, being hurt by the shutdown, including federal workers. he firmly believes republicans in congress should not back down. >> really, we have to realign the government in my opinion. we have to shrink it down. we have to have effective
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solutions and answers and a government that is going to solve problems for our country. >> and other republican we talked to losses job in the shutdown. a defense contractor who has been furloughed. unlike civilian employees he is not eligible for back pay and will likely be one of the last hired back when the government does eventually reopened, but that has not shaken his resolve to support changes to obamacare and restrain federal spending. listen. >> i applaud senator crews, rubio, and those who are standing up and showing which is more important than my paycheck to me right now. >> when asked about how long this shutdown should go on, neither one really had to much of an opinion. when asked if it should post past the debt ceiling deadline after sin said, he did not think that will be too much of a problem. watkins, on the other hand, i know the inner workings of government and what could potentially happen. he hopes the republicans and
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democrats will come up with some sort of a deal before we hit october 17th. melissa: there have to be dissenters. >> and here is what i was talking about. there are a lot. i talked to one republican businessman a little while ago. he builds up his own alarm company in georgia. part of the way he did that is with a small businesses us teeseven small businesses administration alone. he says he knows that some businesses out there, including some of his clients are waiting for approval of those loans and cannot get them because the government shut down. he says a lot of businesses are stuck. he is worried what the long-term consequences for the economy my business is open and operating. the government should be, too. melissa: could report. thank you for bringing that to us. up next, does your boss play favorites? a new study says it is actually a great thing for your business.
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in all-star panel to break down today's big "money" talker. my favorite thing. at the end of the day, it is all about "money." ♪ [ female announcer who are we? we are the thinkers. thb jugglers. the up all-nighters. and the ones who turn ideas in action. wee made our passions our life's work. we strive for the ments ere we can say, "i did it!" ♪ we are entrepreneurs who started it all... with a signature. legaoom has helped start over 1 million businesses,
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♪ melissa: some pretty surprising new studies are turning the entire office on its head. for one thing, if you thought playing favorites was frowned upon, think again. it actually pays to play -avorites, and if you are afraid of burning out, working through lunch can help you. not to mention, the science of where you sit in the office could shed new light on your work day. i know that it all sounds crazy. we brought in a money talker panel test way and. andrew bachmann is with us. we also have pr consultants and our very own david asman. let's tackle the very first one about playing favorites. 83 percent of workers believe that favoritism least support
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decisions. this new study says that that is actually not the case. by virtue of playing favorites you make people work harder, feel loved, court your affection. you're shaking your head. do you believe this? >> i said, give me a break. you are encouraging brown knows. melissa: that is people working hard, trying to impress you. >> and that thought of myself and catholic school. if you were a favorite you had to clean one of the nuns classrooms. and i remember all of us. but here is the crazy part. we'll clamored to explain. we wanted to be the favorite. so there is something to this. melissa: what do you think? >> if there is anything that is relationships. ever heard, who is that more on over there? take it one step further. i have a body you has been talented, amazing in high school, college, cruising through the nhl. first year he gets sent down and is talking to me, had a right
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back up into the biggest? we came up with a plan, burgers with the boss verses beers with the boys. guess what, next on the big money team called. melissa: like that. >> i think that the ask this is in the office francis@foxbusiness.com to move up, but they don't stay up. eventually they come down. eventually they are forced to qualify for the position that they have. but it can be successful in the beginning. what is disturbing to me is as so many -- the former editor, i can tell it now because he is the late editor of the wall street journal. he was a great guy, but some people that would just gives up to him ended up getting promoted, others did not fit. melissa: this study makes the point that we are not talking about just kissing. focus on the outcome. pick favorites for the right reason because someone is working hard and doing your job. melissa: would still you think happens more often? the could be talking about taking someone aside and rewarding them for doing a
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particularly good job. the siigle them out and say, i really like you. you're doing a fantastic job. maybe you show them difference during a meeting that other people get the impression that you like this person because they're contributing a lot. >> you know how other people are. they get ealous. >> people respond to incentives, for better or worse. if you give them -- melissa: the stock about the seating thing. they were saying that in most cases you sit people according to your work group. for example we sit in show groups. you sit by who you are generally working with. neighbor's account for 60 percent of your interactions it work. just by virtue of her you're sitting by year end up talking more. this study, they put an accounting group next to a sales group. there would of view the practice is going on. lo and behold the sales grew started doing a lot of their own accounting and ended at not meeting half of the accounting force because the sales grew
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just picked up the scale. rates for the company, bad for the accounting group. good for the sales crib, i guess . so they are saying it introduces new ideas about what you are doing by mixing people up. what do you think? >> generally would be where. suspicious of gimmicks. this seems to be a good idea. we play with that. we put slow people next to the relief as performers and usually is not thht the slow people down the fast guys. melissa: what do you think? you can be really not a bad guy who sits next to you who is always on the fun smacking his food, is complaining, someone with a negative attitude. >> it is all about making a buck. it is the company's job to build a profitable environment. if you have sales guys on the phone who are great schmoozes but when it comes to answering questions about data you have to sit they're next to the geeks'
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compare them together. melissa: d like this? >> i agree. innovation is everything. you don't good new ideas by being around the same people you are always around. melissa: really quick, this was about launches. if you go out during lunch with the big group and sit down and are forced to socialize to make in the exhausting. as opposed to working at your desk or just doing your own thing, getting a luncheon coming back. you can feel more refreshed by virtue of not having had this long lines for the bigger but people were your socializing, but talking about work. >> at my desk for the past 15 years not out of choice among but because i have to. i have to. i wish it was that simple. it is not. we don't have time. how many times have you gone out to eat lunch? melissa: zero. castigated and come back or i worked through lunch. maybe am sitting outside. thanks. that was fun. we appreciate it. next on "money," let the on-line gambling began.
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atlantic city board data casino wins the new jersey first online gaming permit. gannett revise the startling casino industry? rebought president is ere for "spare change." you can never have too much -- court to much fun. ♪ any last requests mr. baldwin? do you mind grbing my phone d opening the capital one purchaseraser? i need to redeem some venture miles before my demise. okay. it's easy to eraseny recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's tak ce of. this is pretty easy, and i see it worksn hotels too. you bet. now if you like that, press the rebutton on top. ♪ w did he not see t that coming? what's in your wallet?
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internet gambling is an unsafe bet. here on my is says diana wynne, president and ceo zero. thank you for joining us. they have to be in the state of new jersey. now these people that would drive to the casino? >> by and large it is a different customer. if elected what goes on in europe which is the only precedent that we have, the majority of blackjack is penny to $0.10. that is not our customer. it is really a new market that is out there that we think online gaming will be able to. melissa: has there been a lot of push back from anti gambling folks who say that -- is seems like you could sit at home in the comfort of your home and people who are addicted to gambling could sit there and play endlessly. >> really no more than there is about conventional gaming. i think that online gaming is something that is coming. no different and online shopping, and something that we
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are going to embrace. melissa: revenues in atlantic city have fallen 42% since it does a six. amnesty you think this can make up? >> analyst predictions of our over the place from 400 million to a million. we tend to gravitate toward the middle of that. we think we have a greater opportunity at borgata where we control 50 percent of the broker market. 21 percent of the gaming market. we think you have a market premium as well. melissa: you say it is a totally different markets, but is there a way to lure people and you arr damning online? >> we think you'll find people who for one reason or another have never made a commitment to get in their car and drive to atlantic city to start small and smart enjoy online gammng in a way that appears as though they would want to come to our casino and we will know who they are. we are very good ones we know our customers to be able to pick them into our place. it. melissa: what is the experiencc
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going to be like? what is it like when i go and log in? county you track people? >> to attract people through mass media. we will certainly mail to our existing customer base to let them know that it is happening, but people will eventually log on, do a search, land at the website. once they get their they will see the different websites. thein, nap, open an account and play video poker or online poker. melissa: long-term goal, do you envision a time when you could have people from outside the state plan? >> i think that online gaming well proliferate to other states. whether or not they're able to execute compaq's are not falls into the hands of the political process. but while we hope is that it does proliferate. we expected to come and that the states are able to work out deals where there will be interstate gaming, creatt a bigger pool of gamers.
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melissa: a lot of casinos. we were aggressively pursuing it. we fancy ourselves leaders in every segment of the business. when the on-line the opportunity came up we took it very seriously. you know, we worked the hardest and got it in first. we benefited from that. melissa: how hard is it to get the infrastructure of an running? >> a lot of work. a lot of work. and i think the biggest challenge we have not faced yet which will be testing this year location which is where you make sure that the person is in new jersey at the time that there gaming. so that is something that is upcoming. there will be a lot of testing before we ever go live. melissa: that is the biggest challenge, making sure that people really are when they say they are. it seems like it the biggest teeseven of the technology it is
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easy to know. >> it is easy to know, but we will be checking multiple ways to be sure that you are. if they cbs on your phone says a you're a new jersey, also that is off of the celts our. we don't want to take a bet for matter state. melissa: thank you so much for coming on. up next, m.a. "money" today. his company led the bulls to days. we will have the answer right after this. you can never have too much "money." ♪ so i can reach ally bank 24/7, but ere are no branches? 24/7. 'm sorry, i'm just really reluctanto try new things. really? what's wronth trying new things? look! mommy's new vacuum (cat screech u feel that in your muscles? i do... drink water. it's a long sry.well, not hs let's us give you great rates and service. i'd like that.
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so both of you can get your best night's sleep together [ bagpipes and dru playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader p. it's one more innovative reason get 200 free trades when you open an account. ♪ melissa: whether it is on wall street gourmet street, here is a made "money" today, everyone knew was best buy, along with the founder it led today's huge rally on the s&p 500. same-store sales this quarter, significantly stronger than expected according to a top industry research group.
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sent the stock leaping more than 7% to a 3-year high. nice. 66 million shares with means he made, wait for it, $180 million today. mmst be nice. meanwhile, not everyone was making money today, especially anyone who owns ruby tuesday. reporting earnings below expectations and an 11% dive in restaurant sales. moseley blames cautious consumers for the decline. the news crest the stock by 17%. that is too bad. and making big "money" for another fourth season, judge gerard e. of the new york yankees. the manager signing a 4-year, $16 million deal. that makes him the second highest-paid manager in major league baseball. i don't know. with that kind of pay at he might actually get into the playoffs.3 just a thought. that is all we have for you. i hope you made -- today. tomorrow as "franchise friday."w
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franchisees deal with employees not getting along are working well together. don't miss it. "the willis report" is next. ♪ gerri: heelo, everybody. i'm gerriwillis.com. welcome to a special edition of "the willis report." all the questions tonight come from you. now, we did a similar show last week just like this. since then you have sent me so many more great questions about obamacare and its impact that wanted to dedicate get another show to answering, and that is what we're doing tonight. ne
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