tv Cavuto FOX Business October 11, 2013 8:00pm-9:01pm EDT
8:00 pm
yes. rates for us and them m -- now that's progressive. call or click today. ♪ ♪ ♪ neil: all right, welcome. a clock that is not taken. not quite the ticking timso bad. welcome, i am trusting in for neil cavuto. things are getting even weirder. the administration is trying to make the shutdown sound even scarier. and barack obama tweeting today that this is important. putting the safety of our food at risk due to the government
8:01 pm
shutdown. and of course many national parks are still shut. but lots of nonessential staff are also down and you had that to those that are paid to clear brush and federal land and this is really turning into a proverbial zoo. but it gets worse. members of the house actually have to pick up and clean their own houses. how terrible. now, it's hard to believe. how about someone to put this into perspective. my next guest. mercedes, i have to tell you that there is a clock in a hallway, everyone walks past it, no one decides to wind it up. that tells us that speaks volumes about why washington is
8:02 pm
messed up. >> i was actually kind of shocked. the personnel clock wander in the capital. can't we outsource the position? [laughter] i think when you start looking at the different components, for example my kid might be upset about the panda cam been turned off, but it puts into perspective how our tax dollars being spent. so much pressure being put out there by the white house. and in some ways, again, it's the reasoo we are having a problem is because of the republicans and they are pulling out all sorts of things to push through this pr campaign that is going on right now in the scare tactics. charles: we saw it live sequestration through the white house, easter egg thing, all the things have looked terrific. but so far i think that the average american can't say that
8:03 pm
they have been hit by this government shutdown. this partial government shutdown. >> that is in part because about 80% of what the government does is still operating. people do not oftentimes realize -hat these talks are still going on, medicare, medicaid still being paid, the essential activities from border control to the faa, still in operation. agencies that we are talking about the fund education and commerce are not really vital. in some cases they provide important services, but they are not very essential in some cases may be unnecessary. the problem for republicans or not you have read "the wall street journal" poll today is the public is blaming republicans more than president obama for this so the scare campaign seems to be working. what is back earlier when you try to scare with the sequester, it backfired because about was an essential government service
8:04 pm
of the president was playing with. things like the faa and activities that americans depend on. >> wireless working, i don't get it? >> i think it was becauss it was so overtly political the first time. remember when the president tried to close down the air traffic control system. smart republicans like tom coburn who said here is 10 programs you could cut. and so the same thing when they shutdown the food inspection service and so forth. this has gone on a while and americans would like this result charles: there is no doubt about that and that the president has won the pr battle. i have to tell you that it's pathetic some of the things they are whining about. in the long run, mayye we will and we could live with smaller government. thank you and we will talk to you again soon. >> thank you. charles: the shutdown could slow
8:05 pm
down the keystone pipeline to the state department saying that it's slowing down the review process for the long delay. john campbell says that it's just another administration excuse to block this thing. representative, it's pretty always that they don't like it. the point is like a victim in the turmoil of washington. >> that's right. thank you for having us on. this is the rhetorical situation because they are able to say oh, because of this, we can't do the keystone pipeline, which we know they don't want to do anyway. when they are always accusing house republicans of catering to what they consider an extreme small element of our party and catering to an extreme small element of this party because the unions wanted and everything else. @% would pass the house and senate and this enabled him to slow it down and at the same time wayman on us on republicans. so he gets this to fear of
8:06 pm
slowing down the keystone pipeline and adding to the narrative but you all just discussing the last panel about all offthis pain that is unnecessary and exaggerated and manuuacture that he is trying to create with the slowdown. charles: there is no doubt that christmas ame early this week for the white house. let's talk about what could force the hand. the president talking more and more about our great energy renaissance, which is very interesting. i haven't heard george bush get any credit for it and we know the president is not like fossil fuels and has not done anything to help us out. at some point we are going to get a real jobs report number out soon. we are going to see that this country is still struggling for jobs, high-paying jobs that keystone provides an ultimately it will trigger a genuine effort by the white house to get this thing going. charles: i would love to tell you yes.
8:07 pm
>> when we did a poor jobs report job support from the president will say that it's because of the shutddwn and because of republican scare tactics on the debt limit. it is becauue of all kinds of thiigs that we are doing or keeping him from doing because we don't have high enough taxes and because we don't have this or that. you know and i know that it is because a lot of regulation is standing in the way of all the genuine individuals that are out there in the economy, which is energy production, but they have a lot of regulations that are being even greater and to ourt economy. whether it's that or 3-d printing order elements of the economy that obamacare is putting a wet blanket on all of us. we know those are the real causes of what in slowing the economy now. but the president will have his own things that he is going to appoint him. and he sang at the stuff over
8:08 pm
here. moving to open the keystone pipeline. but i just don't think that is probably the case. history would say that it's unlikely to move at. charles: you're absolutely right. they challenge the state department. before i let you go, how are things going down at? are you getting a sense that there are no pickups and this could be resolved early next week when i. >> i think that it could be. everyone is talking, rhetoric has calm down. trying to give room for negotiation to occur. and i have heard lots of information from various sources which is somewhat contradictory. which i don't think we have a firm handle on who is really going to make some deal here and where and how and when. and i think that the funnel is narrowing a little bit and over the weekend things will calm down and people can really get
8:09 pm
to work on a deal and i would hope by monday that maybe we would have something or hopefully some progress. charles: representative campbell, have a great one. we know that you always do the right thing and we appreciate it. >> thank you very much. charles: when a guy who actually wrote the patriot act is fighting to rein it in, he is here next. wait until you hear about the massive lawsuit that is dragging him down. >> if the pirates find you, remember to keep them away from the important things. [ man ] on december 17, 1903,
8:12 pm
the wrightthers became the first in flight. [ goodall ] think the most amazing thi is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, 's exciting! [ man ] touchdown confirmed. wee safe on mars. [ cheers and applause ] ♪ hi. [ baby fussing ] ♪ charles: it is time for the b side. tonight, congressman john bennett joined us and he is the co-author of the patriot act with george bush. now he is actually fighting to rein in the powers that are
8:13 pm
pushing this new bill, snooping.rly with the nsa suing the administration over this thing. welcome to the show, congressman. >> thank you. thank you for having me. charles: i guess a little bit like the monsters have gotten out of hand here? >> yes, because when the patriot act was initially drafted, we thought we had drafted the ability to prevent a collection the collection of metadata, which meant that everybody in the u.s. that makes a phone call, made or received, during the oversight we didn't have that. the collection of data. once i left and we were doing the oversight anymore, the nsa really got out of control. first in the bush administration and then former intelligence committee chair in the house said what obama has been doing and we have to bring the rein in their spending in. there's no reason why every innocent americans on call ought
8:14 pm
to be picked up by the nsa and then stored for five years or maybe even more. charles: did you sense that it had this kind of power? >> a lot of times people put things together and i also think, okay, we figured it all out. people figure out different interpretations. section 215 of the stock. but could we see any of this coming? >> no, i could not see any of this coming in. as you know, the court and the intelligence committees are supposed to be doing oversight to prevent the nsa doesn't go wild. this is a failure of oversight more than anything else. the only way to stop any administration from going wild is by congress for going its ability to do this oversight and i really regret that both the legislative and judicial branches did not do it.
8:15 pm
the church commission's recommendations in the 70s created the intelligence committee to put the brakes on the nsa and instead they have been stepping on the gas and acting as cheerleaders. that is why we got the problem that we have today. charles: where do we go from here? who are you suing, is that the viable way in the best option to try to get this thing going so that the american people are no longer victimized by their own government? >> they have to do a two-pronged thing. one of the lawsuit against eric clapper, who is the a national intelligence director. and remember that he told the senate committee that he gave the least on truthful answer. long lying to congress as a federal crime and he should be fired by the president and prosecuted by the justice department. the other is doing it legislatively and senator patrick leahy and i will be introducing legislation as soon as we can get this back from the
8:16 pm
shutdown. the legislation will do several things. first of all that the collection of phone records can only take place when the nsa targets a foreigner who is a member of a recognized terrorist organization. either in this country or abroad. the second thhng is we are revising the court and any change would have to be public and it would be a public advocate that would represent the public and private interest. the third thing we would be doing with is telling the phone companies that they have the option at their discretion of saying how many requests they have gotten from either the nsa or the justice department to
8:17 pm
turn over and not specifying who they were being requesting for. >> this is a bipartisan issue and it seems like to me a no-brainer. we are rooting you on because this is egregious and outrageous and is an offense to almost every single american. we definitely want to touch base with you. >> i would agree with that. but i would also say a few things that you can't put on the air to say what it is. charles: i would too. have a great weekend. all right coming u.s. taxpayer spent over $11 million bailing out chrysler. that's how it is repaying it. they should create 1100 jobs -- but in mexico? the unbelievable auto bailout backstabbing story after this. 's a growing tre in business:
8:18 pm
do more with less wi less eney. hp is helping updo just that. soon, the world's most intelligent servers, designed by hp, will give ups over twice theerformance, using forty percent less energy. multiply that acrossver a thousand locations, as over 60,000 trees. me benefit to the environme that's a trend we can l get behind.
8:19 pm
how old is the oldest perso you' known? we gave people a ser and had them show us. we learned a lot of us have k known someone who's lived wl into the 90s. and that's a greathing. but even though we're living longer, one thing that ha't changed much is the official retirement age. ♪ the questn is how do you ke sure you have the money you need to enjoy all of these years. ♪
8:21 pm
charles: talk about taking the money and running. chrysler says it's investing more than $1.2 billion in two mexican plans to build commercial engines. that is almost the exact amount american taxpayers money. susan, they are forcing chrysler south of the border anything this is the reason this is happening? >> absolutely. in order to build a product that you can actually sell in today's market, the unions are holding companies hostage so they have no choice. we cannot continue to pay the kind of labor prices that we have had to pay and remain competitive. charles: that's not too far-fetched. a lot of people believe that
8:22 pm
unions demanded too much from the automakers to begin with. but that attitude added to the demise. charles: it's not far fetched but not remotely new. a decades long topic thattyou are discussing right now. i thought we would discuss whether or not chrysler is backstabbing u.s. taxpayers. to that i would say that you have to decide. do you want them to operate as a business or do you want them -- do you want them to do them what we tell them to do is the taxpayers. >> i would rather that they operate as a business. >> than they do both? this is the argument that i hear all the time that we are going to ensure and bring businesses back to america. so are you admitting that this is not the right business climate to actually bring businesses back to? >> nothing of the sort. i don't have a list of all of chrysler's factories in front of me. my hunch is that they continue to manufacture cars in the united states and that they will
8:23 pm
continue to manufacture cars in the united states. they re a global company and a manufacturer and all sorts of places. making a decision to make an investment in manufacturing in mexico is one of the capital investments that chrysler will make in the next decade, i woold assume. i'm glad, i know that you're not, but i'm glad they're still in business. >> we have to let companies make money. we want your money back from chrysler and have them pay taxes. they have to be able to make money and that's the bottom line for any business. charles: i think that we are all happy that they are in business to do what we disagree on is how they went about it. i believe that all of them could have found financing and we didn't have to let them see this. that's a long and drawn out story. we can't have it both ways. we keep hearing others going to be a manufacturing renaissance in this country and one of the prime companies that should be setting an example of this. >> yes, but right now there are
8:24 pm
600,000 unfilled manufacturing jobs in the united states and we do not have the skills to fill those jobs in this country. i said before that we have unions holding some hostages we have a multitude of situations. >> i was going to say that if this was strictly a union issue, they could be going to mississippi or alabama or a southern state where auto manufacturing is fighting a nonunion states. clearly there are more issues at play. >> the bottom line, maybe not a complete stab in the back but a nick in the back? >> i agree thaa it's a boo-boo charles: this is serious stuff. not almost double what it was in 1975. this after spending more than $60 trillion on the so-called war on poverty since 1964. susan, you say that it's an
8:25 pm
entitlement society that is fueling poverty more than anything elss. >> we have createdda society in the united states are we just don't have a strong work ethic anymore and people expect to be talking about this. fast food workers want to pay $50 an hour. we have a skills gap with all the unfilled manufacturing jobs and we ought to be doing this are giving these people incentives to stay at home and at their cell phones and food stands and all that, we should be using that money to help them get the education so that they can go out and work. i know that at 34 letter word, they can go work and create and be a part of society and economy to one of the same thing that adam told me about a week ago. would you like to reiterate that? >> yes, i would like to reiterate that, charles. i think it is insidious. certainly it is a clever suggestion to say that the money spent on helping poor people has
8:26 pm
caused them to be more poor. we cannot prove that, but it sure makes for good situations to say it. but i would point out on specifically regarding the poverty data that if you included the food stands that people had received that the data does not include, fewer people would be in poverty, which suggests at least some of these government programs are helping people. >> you are making susan's point that it would suggest the opposite the people are not helping themselves. in other words that we have created a climate and 1978, the job market was up to 3% in the last time that we got it was half of that at 35% and we have actually created an environment where kids don't want to work for the entire state survey says that one of the things hurting businesses more than anything else is people coming to work on time. you're talking about skills. how about just setting an alarm
8:27 pm
clock. >> i have run businesses my entire life. because i am the owner, i will be working 24 hours per day seven days a week. but he will come to work, they come in late. they take at least an hour or an hour and half for lunch. heaven have an event you would ask them to stay 15 minuues after the clock at 5:00 p.m. >> that is why they call it rush hour. look how great you look working 24 hours a day. all right, is washington on wall street hurting wall street? the guy trying to stop the problem coming up next. go do co. [ siren chirps ] liceand venture card, ma'am. was i ing too fast? oh, yod be going twice as fast if you had double miles. [ male announcer ] get ay fast with unlimited doue mile om the capital one nture card. freeze! don't touch the face! can i drive? absolutely not. what's in your wallet?
8:28 pm
absolutely not. customer erin swenson orred but they didn't fit. customer's not happy, i'm not happ sales go down, i'm not happy. merch comes ba, i'm not happy. e ups. they make returns easy. unhappy customer becomes happy customer. then, repeat customer. easy returns, i'm happy. repeat customersi'm happy. sales go up, i'm happy. i ordered another pair. i'm happy.(both) i'm ha. i'm happy. happy. happy. happy. happy. hay happy. i love logistics.
8:30 pm
charles: at halftime and jpmorgan is getting throttled. not by investors that the government. the company with a 380 million-dollar loss last quarter. releasing this statement. while we had a strong underlying performance across businesses, unfortunately the quarter was marred by legal expenses that were very large. they are from fighting the
8:31 pm
government. to the mayoral candidate joe load on whether they are going after wall street. we did reach out to his opponent, but we are happy to have joe here. >> they have been paying a heavy price rhetorically. it seems that every time i pick up this there is another fine. >> yes, and the congressional delegation is very concerning in the senate as well as the house of representatives. they are not representing the number one city in the city of new york. this is the goose that laid the golden egg and we need to diversify our economy and also understand that wall street is headquartered in the city of new york. charles: i see this symbiotic relationship to be frank with you between washington and wall street. words like, okay, we will get you or sort of treat you like
8:32 pm
the family cow, we will not do, could you every now and then for printing. but we are not going to kill you. when things get down, we will take taxpayer money and lul. from the outside it sounds awful, but it's like a game between these guys and the taxpayers ultimately pay the penalty. >> yes, it was a true relationship were washington and wall street and wall street and washington. for many years in the latter part of the 20th century was a true partnership to work together. it has been split apart now. they no longer our partners. they are adversaries. >> detroit used to be called the paris of the west. an amazing city. they engage their politician petitions and it mindset and tax themselves and ran businesses out and smart people out. who'd be on the cusp of that, something very similar to what we saw maybe in detroit 50 or six years ago?
8:33 pm
>> are we close to that? i don't think so. charles: you just talked about this. right now the opponents are pulling in and your opponent, bill de blasio, is talking about the rich people and wall street. if new york has embraced that, what is the logical conclusion? >> it is that they don't understand and relationship with how the world really works and how revenues come in and how they are helpless keep the government in place and the social safety net that they fund. we need to continue to diversify our economy and so the seeds that mike bloomberg as in the high-tech industry. it is number two in high-tech companies and we need to expand that. we have the best medical schools in the country. the scientists are not talking about this always, these are industries that we needdto have unlike detroit which had all of its eggs in one basket.
8:34 pm
and when the auto industry decided to go elsewhere, there was nothing else like it. >> but how did you get the politics that are extraordinarily powerful as a political tool? i could be making $75,000 a year. i used to drive a cab, but now i do not and i'm taking care of my family. that someone could remind me that the wall street guys are making millions of dollars a year and how unfair that is to me and my kids and i buy into it. >> well, i have an opponent that is driving class warfare right now with the campaign and the tale of two cities where he is pitting one against another. but it's really unfortunate. here's what we need to do. we need to make sure that children are educated and that we expand our economy and diversify our economy so that we can get the unemployed employed and get those people underemployed better off.
8:35 pm
charles: i still hear what you're saying. but the way that you guys handle the money my kids can never get educated. >> the gullibility of people is one thing. but the reality is another. charles: you are telling us a message that a lot of people in business or looking for you to be the savior. i have to tell you that you are very polite and successful. but you have to be hitting the wrong nerve on people. this is not the best thing for them. >> that's right, we need have a growing and prosperous economy. income inequality in the world. but getting little bit too wide. but we also have the deal with the concept of jealousy and invigorated and the american spirit and the american dream. i'm going to do better than my father, my child will be better than me so that we are dark city as well as thh country a place of opportunity. charles: it is not looking good
8:36 pm
for obamacare. the numbers are in and the sign-ups are weak in this very first week. it rses the price of fishmeal, cattle feed and beef. bny mellon turnsnsights like these into powerful investment strategies. for a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested ithe world. bny mellon. to find you a great deal, even if it's not with us. [ ding well, our company does .
8:37 pm
it's like a sauna in here. helping you ve, even if it's n with us -- now, that's progresse! call or click today. no mas pantalones! you make a great team. it's been that way since e day you met. but your ectile dysfunctio- itld be a question of bod flo cialis tadalafil for daily use helps you be ready anytime the moment's right. you cabe more confident in your ability to be ready. and the same cialis is e only daily ed tablet approved to treat ed and symptoms of bph ke needing to go frequently or urgently. tell your doctor abo all your medical cditions and medications,
8:38 pm
tell your doctor abo and ask ifour heart is healthy enough for sexuaactivity do not take cialis if you take nitrates for chest pain, as this may cause unsafe drop in blood pressure. do n drink alcohol in excess with cialis. side effects may incde headache, upsestomach, delayed baache or muscle ache. to avoid long-term injury, seek immedte medical hel for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vion, or if you have any allergic reactions such arash, hives, swelling of the lips, tongue or throat, or difficulty breathin or slling, op taking cialis and get medicahelp right ay. ask your doctor abou cialis for daily use and a 30-tablet free tal.
8:39 pm
charles: collett wishful thinking. obama administration anticipating people signing up for the affordable care act by the end of open enrollment, march 31. but the numbers are in and showing that only about 50,000 people have signed up. so if the rate holds at this level, i'm pretty good with math and not add up to the president counted 5 million people short. tonight, beating obamacare. my next guest says this law is a huge mess. >> i was looking at your book. it is a little tattered. but that shouldn't be a little bit more than? >> employer mandate, the caps on expenses, it is a mangled and
8:40 pm
distorted and illegally altered version. not this law at all. and they say la bohème, not really all be one when anyone says that the law has been passed and we can't change it. however the website is up, it's an unmitigated disaster. i saw that everyone had a lot of fun poking fun. but i think that the more egregious problem has to be the fact that people are not taking the bait. people seem to tool around. >> that is because they are reeling from the sticker shock. don't forget the president said that this would be affordable. the fact is that the average person -- a man will pay double what he would before, premium earnings are up 99% of what they would have been.
8:41 pm
charles: is this the average across-the-board. >> just. >> for women, 62% up. for young people, 30 and under, up 279%. these are all figures from the manhattan institute interactive map, they have studied the state-by-state. it's not affordable and it's not just the premiums that people are rreling with. it is the deductible, which are double what they are an employer provided health plans, if i 5000-dollar deductible and the bronze plan, 3000-dollar deductible in the silver plan. a young person who writes a check for maybe $300 per month is never going to get anything back. how many men in these 30 to 35-year-old age categories ever go to a doctor. including the three were 5000-dollar deductible, unless they are in a motorcycle
8:42 pm
accident or get an unexpected illness, heaven for bed, after two or three months they are going to say, why am i doing this, i should be making a car payment. >> that's right. >> or it is also the hire of god or a percentage of your income. so for families, those penalties will add up really fast. >> it still might be an option for someone who is on a tight budget. >> that is right. >> who isn't on a tight budget? >> there you go. you saw this from one aspect to another. now it is up and running and we get a chance to see it. what is the prognosis on this and how to keep alive? we know they are determined to. how do they figured out? >> that will be a pr disaster. it is really hard to keep this alive. once you get in that plan come
8:43 pm
you can't go to the doctor and hospital that you would prefer because to keep the premiums for spiking even more, they have eliminated so many doctors and hospitals paying bargain basement rates. the one you always inform us, we always appreciate it, but it's always kind of sad. this is amazing stuff, really shocking numbers that we saw this week. have a great weekend. tom hanks already getting some oscar buzz for his betrayal of katherine philips, but the real captain screw is not happy about the movie at all, they are layered up and they are suing. >> we have been boarded by armed pirates. we will be all right. desied by hp, will give ups er twice the performance,
8:44 pm
using forty percent le energy. multiply thaacross over a thousand lations, anthey'll providthe me benefit to the environment as over 60,000reeses. that's a trend we can all get behind. your financial advisor should focus on your ng-term als, not their shorterm agenda. [ male announcer ] join the nearly million investors who ink like you do. face time and think time make a difference. at edward jones, it's how we me sense of investing.
8:47 pm
[inaudible] [inaudible] >> everything will be okay. look at me. charles: lots of buzz around captain philips. several crew members are describing the movie as highly fictionalized. the owner of the attacked ship, captain philips ignored warnings to keep a safe distance office mulley coast and that is why he put the whole crew in jeopardy. so do they have a case? let's bring in the lawyers. when individuals as they do have a case and another says they don't. let's go with how they have a case. >> i think that they have a huge payout coming their way. this isn't simply just a negligence case like the captain
8:48 pm
made a mistake, but a punitive damage case to the tune of $50 million. i had a chance to read through that complaint today and let me tell you that there are some strong allegations in there. the plaintiffs are essentially saying that the captain intentionally and willfully put their lives at risk. there are definitely facts to back that up here. charles: we know that hollywood takes extraordinary liberties. but to the actual facts of this really be such that the captain really did put everyone in jeopardy? >> captain philips and this is nothing but back telling in itself. this is round two. the lawyers, they are the ones that will weigh in on this one in the white house. captain philips committee was in any kind of wrongdoing, why has he been so open about
8:49 pm
everything? he has done depositions already and he has spoken on tv several times, he's all the time i know tom hates smiling with him. there are plenty of attacks happening there and you can't avoid it. your 200 miles away, 600 miles away, 1200 miles. or 1300 miles off the coast. charles: what do you think? >> i think she made the case for them right there. the fact of the matter is, let me finish -- [talking over each other] charles: okay, go ahead. >> in order to prove a negligence case from you have to prove that they knew or should have known. there is no dispute here. it's not that they should have @%own, they had numerous hijackings that took place in the captain was won seven times. seven times to stay at least
8:50 pm
600 miles away from the coasts and he chose to ignore it. >> he was 240 miles away from the coast and that is where the attack took place. charles: okay, let me jump in for one second, please. i want to say that you brought up initially the fact that the captain is not being sued and more than likely he doesn't have $15 million for an insurance that would pay off a lawsuit. >> i am lawyer and i know what is going on. >> my point is that it is horrific that we are always going after deep pockets. when we make a point whether he has been considered negligent or not. he wasn't negligent. charles: the entire crew is almost unanimously saying that this guy broke a lot of rules
8:51 pm
and assumed a dangerous was that he was taking. everyone knew it was a dangerous place. but they set up this danger and he violated them and shouldn't they vouch for that? >> the reason why -- >> the reason why this individual was not named, and megan described it perfectly. he does not have the deep pockets to satisfy a judgment and it's not the lawyers fall. you're not ready to sue ssmebody winning or you can collect. yes, the ship owner is vicariously liable. what that means is that they are responsible for the conduct of the catheter and that is what is going on. charles: we know the captain has made a fair amount of money. and i know that both of you ladies probably agree that this will be settled out of court and the pirates will win again on both sides. a spirited conversation.
8:52 pm
weewill have you back soon and have a great weekend. as mark zuckerberg looks to protect his own privacy, he keeps finding new ways to invade yours. have investors finally had enough? we have that next. so we talked about her optns. hevaluable assets were staying d selling her car wouldn't fly. we helped sydney manage her bt and priorize her goals, so she cou really turnp th volume on her dreams today... and tomorrow. so let's see what we cado about that... remodel. motorcycle. [ female announc ] me queions take morehan a bank. they te a banker. make a my financial priorities appointment today. because when people talk, great thingsappen.
8:55 pm
charles: time for the blitz. this is a part of the show that you should be watching and discuss your opinions. mark zuckerberg and his palo alto mansion. security surrounding it. addressing this coming on the same day that facebook is telling that it's users can no longer hide its profiles from a search. to prevent guys for this. i want to start with you on us. hypocrisy aside. what about this?
8:56 pm
>> i still don't think that that is worth what everyone thinks that it is. social media, all about voluntarily contributing your information to the greatest marketing machine in history and you have to convert them to paying customers. i don't care if it's 10 or 100 million of them. i don't like this. charles: you are a momentum guide, certainly they have turned it around. >> they have turned around in the stock, despite all of the privacy concerns and the haters out there,,there seems to be too many. it continues to perform as does the service. i think you're overselling it when you say that mark zuckerberg and facebook are invading people's privacy. despite this algorithm, they are is robust privacy settings, which is not to share things you want to keep right on facebook. so people are getting a lot out of this service, but i would not put much faith in this stock.
8:57 pm
>> a bull market. still much talk about jcpenney. bringing back their old ceo, now the retailer is bringing back its old logo as well. hoping that the move will somehow reignite her regain old customers. doesn't jcpenney need to do more than a logo change? >> the stock trades back in 1978, the old soldiers don't die but they fade away. jcpenney had faded away and this is a company that really dominated the retail states. ii america community to innovate and ccmpete and they did not, which is why despite a logo change and even a ceo change i think the jcpenney has a tarnished brand and likely will go to zero. >> i have to tell you the one that i go to is a hot mess. it's ridiculous. can pending turn this around in
8:58 pm
time? >> no, i think that the brand has had its heyday. it's sad because of iconic in the american scheme of thing. but the private brand doesn't work him, the sales don't work. turnaround is promising, but promising and profitable differences are huge. charles: okay, what is that? it is time for the nightcap. what everyone is going to be talking about coming monday. >> they had some trouble in the recent couple of months and it's interesting to see them come down. the net interest margin will grow as interest rates rise. that is why we have a lot oo biological base your. charles: sometimes companies can have great numbers and earnings.
8:59 pm
but these stocks struggled today. two they did and a lot of them dead. i think that longer term we are still beating the market year-to-date and i don't trust the banks, but i think that that is what they are doing. >> tapering may be a 2014 event, i'm saying 2016 but for rates actually go back up. >> unless we have the derivatives to make a concerted effort concerted effort against the fed, i think that that is probably right. she's going to do everything she can keep the rates low, and i think that thinks will benefit.
9:00 pm
middle america will be sold on the river. charles: jonathan is getting a waiver on a facebook account and they won't be snooping on him today. you guys are the best. i love you. have a great weekend and we will check those stocks later. audience, have some hot cocoa tonight and we will see you on monday. el, everyone. i'm dennis kneale than for gerri willis. what does it cost when you criticize presint obama and his economic policy? the answer may be over $20 million. that is at someone is paying. we will explain. and facebook ceo demanding more privacy not for you, but for himself. you in the meantime are about to lo more privacy on facebook. also tonht monica de part two, sexual harassment in the workplace is legal, but a judge ruleit is okay in some cases involving interns. our legal team will tackle that issue. "the willis report" arts right nnw. ♪
83 Views
IN COLLECTIONS
FOX BusinessUploaded by TV Archive on
![](http://athena.archive.org/0.gif?kind=track_js&track_js_case=control&cache_bust=338025649)