Skip to main content

tv   Varney Company  FOX Business  October 28, 2013 9:20am-11:01am EDT

9:20 am
♪ hey that gives me an idea ♪ let's get out of this bar ♪ drive out into the country and find a place to park♪ ♪ ♪ >> it crashed last night. healthcare.gov down in all 50 states, try again later. good morning, everyone, with that at the back drop, it's no surprise that democrats are now walking away from obamacare. and those successful signups on the exchanges, turns out the vast majority are signing up for free health care, as in medicaid. so, this monday morning, implementation remains chaotic, obamacare itself is increasingly being questioned. so what, says wall street? the printing presses will go way into next year, the dow opens maybe a little higher
9:21 am
today. it's very close to a new, all-time high. what a way to kick off the week. "varney & company" is about to begin. [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. bounce keeps my clothes fresh for weeks, even when they've been sitting in the drawer a long time. like those jeans you can't fit into anymore. uh...by that, i mean... [ male announcer ] how do you get your bounce? long-lasting freshness.
9:22 am
9:23 am
>> and we've provided links to other helpful websites such as kayak.com. where you can purchase airline tickets to canada and buy cheaper prescription drugs. stuart: you know, when you've lost "saturday night live," you may have lost america. the hits on obamacare, they keep coming. and kathleen sebelius keeps testifying and the problems are revealed. first one, the obamacare website still not working this morning, it crashed totally yet again last night and in all 50 states, nobody can sign up. according to verizon, the crash is being blamed 0 a network failure and a troubling sign. the vast majority of people who
9:24 am
successfully signed up are using the website to get medicaid, look at kentucky, out of 20,000 new enrollees 82% from were medicaid and 87% signed up for medicaid and the list goes on. this means that people are signing up for free health care and if young, healthy people are not getting private plans and putting their money into the system, obamacare collapses. and we have the list of democrats urging an extension of open enrollment growing, fast. ten senators signed a letter to the president pushing for extension beyond march the 31st, and all that this monday morning, and it's not just obamacare in the news though, i've got 30 seconds worth of climate change headlines for you. it's the one-year anniversary of super storm sandy, surprise, the mainstream media uses it as a chance to bring up global warming, we have report in the 10:00 hour. and this, the l.a. times will not publish letters to editor from climate change skeptics
9:25 am
and they say the people are wrong. the u.k. bracing for the biggest storm in years, cancel canceled, outages and they're blaming global warming and they are. if you're in the market, you're making money, record territory for the dow maybe and certainly for the s&p 500 when we open up for business today. and then this, three men fishing for marlin. they hook a fish and it jumps into the boat threatening to impale the men and the one jumps off the boat to avoid the flaying marlin. it's a close call. when we made our commitment to the gulf, bp had two big goals:
9:26 am
help the gulf recover and learn from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. ido more with less with buss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance,
9:27 am
using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind. peace of mind is important when so we provide it services you bucan rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next.
9:28 am
9:29 am
♪ hey, baby, talk a walk on the wild side♪ >> and that song in honor of the late lou reed as we get ready to follow big names in tech, that have been making wild moves lately. following where the market opens 30 seconds away. scott, we've been saying that the market wants to go up. do you think that the dow will hit a record high today or this week? >> yes, it probably will. i don't think we could get too excited about it for a couple of reasons, number one, cyclically, we'll probably
9:30 am
rally going into the end of the year and number two, i'm hearing stories that some fund managers missed a lot of the moves. we've had a few and they have only lasted a few hours, they're continuing to see the market reaction for longer. i've heard one thing, that janet may take a walk on the wild side when she takes over and may add to accommodation and-- >> i bet you are. if she prints more money i think that's a bull sign. where are we on the dow industrials, 15,564 right now. that means we're not that far away from an all-time record high. we've opened just a few points lower, 18 points lower as we speak. look at that, 15,550. not bad. now, microsoft and amazon, they were huge winners late last week when i was away, by the way, i missed microsoft, so,
9:31 am
start with, start with that, nicole, where is microsoft now? >> well, pulling back a little bit. unchanged right now, and unchanged at $35.71 a share. and then you have amazon down about 1/2 a percent. but as you noted, these have been great performers this month, for the month of october and microsoft is up 7 1/2% and amazon is up over 16% and the nasdaq in the last, say, three months is up almost 10%, outperforming the s&p and the dow and the tech has been strong lately. >> i can't believe amazon shooting up 3.50 a share just like that, and i'm going to follow up with the cheaper iphone 5-c. did it live up to the hype? we'll find out when apple reports its profits after the bell. and apple is up three bucks. 529. that's another big name in the news, 529. and google, let's see where it
9:32 am
is now. above 1,000 a share and down a fraction and up a fraction. big tech doing very well. to the overall market, i've said consistently and so have our guests, this market just wants to go up. here is keith fitzgerald from money map press. and are you saying we're still going up and maybe a record for the dow this week? what do you say? >> yeah, i'm with that territory, i think we'll hit a record this week and i think your prior guest was right. hedge funds have been a substantial portion of this move and yellen loves the printing presses so i'm expecting her to add to accommodation going into mid 2014. stuart: that's the headline of the morning, if the new incoming fed chair turns around and says i'm not going to restrict the amount of money i'm printing, no, we're going to print even more. what, what does that mean? i mean, that surely wildly bullish for the market and that's the rumor this morning, isn't it? of course it is.
9:33 am
she's keyed it to the unemployment figures which are hopelessly more cooked than the christmas goose. and that's what she's going to-- those in the fed want a plan b aren't going to get one. stuart: i'm going to speculate what happens if we go into recession, print more money or spend more money? i'm going to speculate later. and i want you to talk about twitter. still no profits. and they go public on november the 7th. you've been bearish on it. are you still? >> well, you know, look, i have rented lips again today. stuart. mentally i'm bearish on this stock. if there's been a fundamental shift about ipo's, they're potential in a zero rate environment. i think it's going to be a huge deal and wall street knows it, but the you can iss ese ese ese- play risk on this is huge. stuart: we hear you. stay there for a second i've got to read this. people who receive a government
9:34 am
check now outnuyear-round full-time workers. these are from the census bureau. 108 million received one form of government benefit. 101 # million held a full-time job. it seems to me that america is more and more resembly japan. what do you say? >> well, we've become a nation of handouts and i think what's interesting is japan still has an ethic where they want to work, they want to get ahead. you've got roughly two workers supporting three dependents. here in the united states we're not quite at the levels, but the attitude is very different. what i notice on the streets at home in japan, why work if the government is going to give everything to me in united states. where in japan there's an earnest attempt to find employment. imus: keith. thank you very much indeed. and oil and gas, up-to-date. price of oil $97 a barrel.
9:35 am
the national average for gas down to 3.28. it looks like oil prices are starting to take an effect. regular gas down a nickel over the past week and later in the show we'll show you gas stations where the first number is a 2 on a gallon of gas. joining us now republican congressman and medical doctor, john fleming. congressman fleming, welcome to the program. you want kathleen sebelius to be fired or to step down or to get out of a job in i say, i don't care what your reasoning, sir, i say it's never going to happen, but go, make your case. >> well, stuart, you may be right. and you know, in this administration, if somebody screws up, and they get promoted. so, who knows what's going to happen to secretary sebelius, but she definitely needs to resign or be fired for heaven sakes. she denies accountability and she's now blaming republicans. you know, and she's also dodged our hearings. she is going to come this week, thank goodness. and she says, for heaven's
9:36 am
sake, the people who want her to resign, she's not accountable to. she doesn't work for. well, stuart, i'm a taxpayer, she works for me, just as the people of america-- i work for them as well. stuart: you know, sure, this is not just the failure of administrators, whether it's kathleen sebelius or her team. it's a failure of government, isn't it? that would have been my point. government doesn't do things well and it's really not doing obamacare very well at all, and it throws into doubt the whole ability of government to really move mountains and carry us forward. >> yes, stuart, but remember, secretary sebelius has been a cheerleader from this from the beginning. and she's shepherded this through and how great it was going to be and a wonderful experience for customers it was going to be and she believes in this idea and remember, that now the department of hhs, not only has a big job to do, as a governmental department, but now it's going to govern over
9:37 am
1/6 of the largest economy in the world and she's going to be the chief executive officer for that for heaven's sake. we must hold her accountable. >> yes, but if she were to be fired or step down, you'd have to have a replacement in place very quickly. and that replacement would have to go through hearings in the senate. and i mean, you republicans, you would make hay on that occasion, wouldn't you? that's why i say ms. sebelius is not going to resign and she's not going to be fired. >> first of all, stuart, how can we do any worse? secondly, if the president presented someone who was qualified, had credentials and perhaps came from the private sector, knew something about the marketplace, really understand about human behavior and why people buy insurance and why they don't. i think they would fly through the senate. stuart: that's a big "if" though, if the president nominated somebody who was market oriented. >> true. stuart: congressman, we appreciate you being with us.
9:38 am
it's going to be a big week for you and i hope you tell us what happens when you question miss sebelius. always a pleasure. mcdonald's, saying goodbye to heinz and taking the ketchup business elsewhere, why are they doing that? a former burger king man is in heinz and mcdonald stocks please? >> 94.85. virtually flat. this is a 40-year relationship out the window as the burger king, former burger king ceo becomes the head of heinz in june and now is over at berkshire hathaway. here is the thing in the u.s. do you know that in the u.s. heinz ketchup and mcdonald's is only used in pittsburgh and minneapolis. that i did not realize. the impact of the change will be felt more for their overseas companies. in the meantime, i have to throw in burger king because their profit beat they're doing so well abroad, stuart, in europe and the middle east and africa and burger king today up
9:39 am
6 1/2% at $21.05 a share. stuart: so, it's a -- they use heinz ketchup in only two locations in the united states. whose ketchup do they use elsewhere, do you know? >> i believe here in the united states they actually have a brand of their own called fancy cat ketchup, i thought i was getting heinz, but i wasn't it says in the united states they're only used in pittsburgh and minneapolis. stuart: that's where they have the dispenser and you get the generic ketchup. we've got it. we figured it out. to the big board, we're down 20 points, not much of a pullback, we're at 15,550. not far away from an all-time high. next up, the tea party, what will they do early next year? they're going to cave on the budget? what are they going to do about taxes? well, they are here next. ♪ inside out, and round and
9:40 am
round♪ ♪ upside down you turn me, you're giving love instinct tiffly. round and round you'll turn me♪ (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) ranked highest in investor satisfaction with self-directed services by j.d. power and associates. wow...look at you. i've always tried to give it my best shot. these days i'm living with a higher risk of stroke due to afib, a type of irregular heartbeat, not caused by a heart valve problem. at first, i took warfarin,
9:41 am
but i wondered, "could i up my game?" my doctor told me about eliquis. and three important reasons to take eliquis instead. one, in a clinical trial, eliquis was proven to reduce the risk of stroke better than warfarin. two, eliquis had less major bleeding than warfarin. and three... unlike warfarin, there's no routine blood testing. [ male announcer ] don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis ifyou have an artificial heart valve abnormal bleing. while taking eliquis, yomay bruise more easily and it m take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. i've got three important reasons to up my game with eliquis. [ male announcer ] ask your doctor today if eliquis is right for you.
9:42 am
9:43 am
[ male announcer ] once in a while, everything falls into perfect harmony. [ engine revs ] and you find yourself in exactly the right place at the right time. just be sure you're in the right car when it happens. the 2014 c-class sports sedan. power, performance and style in total alignment. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services.
9:44 am
. stuart: not much change, down 21 points. that's not a selloff on a monday morning is it? and we're down $4 on gold. 1348 an ounce that would be. and an exclusive asthma and allergy drug, cingular, the profits are down. the stock is not taking it exactly on the chin. it's down 2% at 45. starbucks announces tweet a coffee. you can tweet someone a digital gift card to buy something at starbucks, whoop-de-doo. look at that. starbucks goes to $80 a share. and not bad.
9:45 am
and then we have scotty hughes from the tea party news network, she's back. >> and you had to do the starbucks story right before, okay. stuart: and we don't get into starbucks predictions, you're totally wrong. >> yes, i was. stuart: number one, next year, early next year, are you going to tell me that the tea party will not agree to any budget deal, a no debt deal unless there are spending cuts, line in the sand? >> 100% and that's how we've always been and ted cruz, i think we have to watch the cinema of america. if obama-crash is completing its downward spiral and americans are angry at the higher premiums and loss of medical care, i guarantee the establishment watches the tea party and they'll say i told you so. >> instead of spending cuts you could revert back to your position of no budget deal, no debt deal and they'll do something about obamacare, suspend it for a year or cancel it, that will be your demand. >> 100%, the exact thing we went through a couple of weeks
9:46 am
ago and ted cruz isn't doing your "i told you so" dance yet, but come the spring as it continues to implode and we see the real troubles of obamacare. stuart: what do you think the real troubles of obamacare are? >> higher premiums and people canceled off their plans and when they go for higher co-pays when they go to their doctors. they'll be reminded every day that ted cruz was right and works for us and against the establishment. he's worked so hard-- >> you detest the republican establishment? >> i do. you don't sit here-- we need to go through a purification of the g.o.p. we don't need a third party we need to bring back the republican party of abraham lincoln. stuart: are you trying to take over the republican party? >> we're trying to claim what was ours, the party of ronald reagan and standing up for things in leadership and we haven't seen that in the moderates that existed the past generation. stuart: are you challenging the moderates to primary race before 2014? >> that's what we've said.
9:47 am
can we primary every person, no. if we take out a few ones and everybody heard john mccain say he's running for reelection. bad idea, that will be one of our biggest targets. stuart: you're going to target john mccain. >> who not, who better to sit here and say the establishment lines, sabotaging the conservative voice than john mccain. stuart: then you will be demonized by the establishment media. we'll be demonized. >> we're already demonize $and that's not a bad thing. as americans are waking up and realizing what we say is coming true. i agree it's not going to be popular and maybe see fox news lead the charge. stuart: you're geared up to are in? >> it is, it's our children and grandchildren we're fighting for. we're not going to put the 17 trillion in debt on my grandchildren's debt. stuart: you don't have grandchildren. >> i will one day, and i have children. i don't want to see it sold off
9:48 am
to the chinese for bonds. stuart: good line, use that again. scottie hughes. >> thank you. stuart: a scary thought, isn't it? what happens, what do we do if there's another recession? that's the nature of my take and it's next. ♪
9:49 am
♪ (train horn) vo: wherever our trains go,
9:50 am
the economy comes to life. norfolk southern. one line, infinite possibilities.
9:51 am
9:52 am
>> watch out, we've got real sunken treasure here in the studio recovered from ship wrecks, gold and silver worth a ton of money. the question is, whose money is it? new at 10 we'll have it for you. plus, a year after hurricane sandy was all that money congress spent, 60 billion dollars was it put to good use? and the mainstream media can't report on sandy without mentioning climate change. what happens in the next recession? well, there's a cheery subjects for you and stocks are close to all-time highs, but it's worth thinking about. there will be a downturn at some point. what are we going to do when it hits? here is my take.
9:53 am
now, let's see now, president obama responded to the last recession with a massive increase in government spending and a massive increase in our debt. ben bernanke responded with a flood of money. could we do all of that again? suppose that next year, the economy turns south. i'm not predicting that, but it's worth asking, what our policy response would be to another recession. spend a lot more government money? really? there would surely be demands to rebuild the nation's infrastructure with another huge stimulus plan. do you think we could do that again, stim plan 2? who would lend us the money? we've added 6 trillion to our annual debt? do you think that lenders would cough up another couple trillion. no problem, we'll just print the dollars that we need. really? we already have interest rates at near zero. if you slide into a new recession when you've already shot your money printing
9:54 am
bullets, you're in deep trouble. we're clearly in a corner, we're boxed in. more government spending and more money printing didn't work so well last time and we've surely been met with derision. if we tried it again. it would be more victims that demand more help and that's obama's america. half the population get help from the government. another recession would surely increase that number exponentially. we are indeed in a mess. the politics of redistribution creates a downward spiral, no growth, few jobs, big spending, big debt. who gets us out of this mess and how? we may be facing that question exactly one year from now. so , but there are no branches? 24/7. i'm sorry, i'm just really reluctant to try new things. really? what's wrong with trying new things?
9:55 am
look! mommy's new vacuum! (cat screech) you feel that in your muscles? i do... drink water. it's a long story. well, not having branches let's us give you great rates and service. i'd like that. a new way to bank. a better way to save. ally bank. your money needs an ally. see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my business, and definitely not with our health. innovations that work for you. that's health in numbers. unitedhealthcare. maestro of project management. baron of the build-out. you need a permit...
9:56 am
to be this awesome. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (aaron) purrrft. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. sometimes they just drop in. always obvious.
9:57 am
cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. and this pk is the inside of your body. see, the special psyllium fiber in metamucil actually gels. and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber.
9:58 am
stuart: monday morning, october october 28. welcome to our second hour. obamacare chaos. democrats desperate for a delay, but the director of doctors for america loves it. a professor at ucla, and she is here. the 1-year anniversary of the sandy, climate change so says the media. if you take a walk. get ready for the tax on the miles they drive. a black box monitor in your car.
9:59 am
the judge has choice words about that. some been treasurer. gold, silver from the ocean, but who gets the money? would get that market. obamacare, a shutdown. who cares. new record may be. here we go. ♪ look at this, please. a loss of only 11 points. we are now a couple of hundred. this market keeps wanting to go up. record high for the dow. >> a rally until the close. you have to watch that 3:00 hour. you better be watching. it.
10:00 am
stuart: are you saying that this is because profits are good and this is profit reporting season or are you going to finally join the club med said the market is going up because janet will print like crazy? >> above 16,000. nicole petallides tells you the best. burger king exploding same-store sales are down. europe, 296 more restaurants. let america, 171 more restaurants. asia-pacific, same-store sales up. it's a global economy. stuart: you are saying that despite the weakness in the economy american corporations have found a way to make even more money in a weak economy with fewer people employed. >> let me tell you something, when they look out the window they cannot make the connection. the fed plays a role. these companies are making legitimate money.
10:01 am
stuart: we got it. tunicle, bristol-myers squibb is the leading stock. why is that? >> a couple of analyst upgrades. working on one treatment in particular for cancer that has been billing welcome and you have both morgan stanley and credit suisse speaking profitably. moments ago 5140. that was the highest level. added to the u.s. focus list. uploaded to and overweight. stuart: september pending home sales numbers came in, a drop of over 5%. that to my belief, but the level of spending home sales below the year ago level, the first time we have seen that in two and a half years which implies real
10:02 am
weakness in the housing market and that janet will keep on printing more money. >> and the comparison will be tough. relatively negative news on housing in the economy, and the dow is down. >> no choice. stuart: let's get to obamacare. we keep calling it a train wreck. a very troubling statistics. first of all, just look at kentucky, the state that was most successful in signing people up for obamacare. 26,000 people signed up. however, the key number is 21,000 because about 26,000, it was 21,000 that signed up for medicaid. that would be free health care, free insurance. but that is a disaster. if you don't have young, healthy people putting their money and the whole thing collapses. >> we should not expect anything different. it was hinted, suggested,
10:03 am
advertised as some sort of amazing thing that the president pushed through, his signature achievement, and it felt like it would be free medical care, not health insurance that i have to pay for. i was told that babies would not get to see doctors, as if that was not already happening. it. stuart: pretty good. you should have up 3-day weekend >> i would have been really pumped up. stuart: let's stay on subject. joining us now, a big supporter of obamacare and the executive director of doctors for america. welcome back. good to see you again. >> thank you. great to be back. stuart: a unit of the democratic national committee, is it not? >> it is independent, 16,000 doctors and medical students. we think people should get the health care that they need. stuart: all democrats, all in favor of obamacare.
10:04 am
>> we are not all democrats. we are across parties. we are for the health care law because more people will be able to get health insurance that they need. stuart: in the state of california -- you are a professor at ucla, is that correct? okay. in the state of california 160,000 people had just been kicked off their private health insurance plans. they have been told the plans are discontinued. they are not able to keep the plan that they like, which they chose to my total of 500,000 may lose their insurance in california because of obamacare. a 500,000 member coming from the san francisco chronicle. but to use it to those people who because of obamacare are being kicked off of the plan that they like? >> i think kicked off is a bit strong, but shifted on to a plan that is better for them. it. stuart: excuse me.
10:05 am
the government thinks it is better. happens to cost a great deal more money, the deductible will be higher and the copay will also be higher. they have been kicked off the planet like. >> they think they like it. the plan is actually -- stuart: they made the choice, and you are taking the jurors out of their hands and saying that the government will decide what level of care they get and how much they have to pay for it. you approve? >> the people who elected to congress that passed the law that elected the president who signed the law have decided that we want to make sure that health insurance when you buy it, it will actually cover you when you get sick. stuart: i repeat the question, what do you say to those 160,000 people who have received letters saying that their plan, the one they chose, the one they like is being discontinued. what do you say to those 160,000
10:06 am
people in california? >> i say take a look at what you're getting now. health insurance that will cover your primary-care visit, preventive care for free, go to the hospital and another that will be covered, go to the emergency room and know that will be covered. get care and health insurance that will cover the care they need. don't listen to the hype. take a look at what you're actually getting instead of getting so bent out of shape of the fact that some news. take a look of what we're getting. stuart: forced to take it at much higher cost. why don't you let people decide? >> they do decide. stuart: no, they don't. you are entitled to your opinion, but not facts. 160,000 people in the state of california had just been told
10:07 am
the plan which they like and shows is no longer in effect and they must go to another plan which will be more expensive, higher deductibles, and more copays. you approve of that. >> my health plan is getting discontinued. stuart: of want to know what you are going to say to 160,000 people who obamacare is forced out of the plan that they like directly contrary to the promises of president obama, what do you say to them? >> keep being injured. call the 1800 number. figure out what you can qualify. you can pick from a plan that covers less, covers more, ones that cost less, cost more. you have choices. take your time. an insurance plan on the individual. on january 1st, new year's
10:08 am
day, you will still have the covers the need. stuart: you are going to pay a whole lot more. >> not necessarily. there is a man in arkansas who is saving -- stuart: in arkansas. that is a good standard. i don't think you have addressed the one covered 60,000 people in your state. maybe the half million in your state of california who will not be able to keep the plan did it -- that they chose, their specific choice. we welcome you back any time. we are out of time. >> very dangerous, that attitude that personal choice means nothing because the government knows better. for her to say that with a straight face is terrifying. stuart: we have to bring her back. we are just one year out from hurricane sandy, the super storm that ravaged the east coast and
10:09 am
left 150 people dead. elizabeth macdonald is in new york, one of the hardest-hit areas. hell is the recovery going? >> it is a difficult recovery. we are on the beach. this is what we wanted to show. the iconic boardwalk where family and friends spent their summers, it was torn up like matchsticks. you can see, it still has to be rebuilt. we know that the boardwalk in long beach has been rebuilt. this is an area -- right now i will walk on top of the sand berm they are building. this is an area where about hundreds of homes were demolished by fire and water and flooding. speedboats ended up in kitchens, wave runners ended up in living rooms. people were washed out of homes for rescuing each other.
10:10 am
to the west of here is breezy point. they are still rebuilding homes. we are hearing news out of washington d.c., the house and senate trying to reach a bipartisan solution to stop the rise and flood insurance that the president signed into law in july. people are going to have to leave their homes and businesses because they cannot afford the flood insurance. you live in a beachside cos will come and you have to pay for the hire from insurance. stuart: that is the argument. thank you. states moving to install black boxes in fuel efficient vehicles to calculate and tax total miles driven because they are losing money from the old-fashioned gas tax. death and taxes, right? >> death and taxes, yes. stuart: but what will get you?
10:11 am
the black box. >> it is not just going to get me, anyone who believes in the right to privacy, the fourth amendment means what it says. this is not general motors or toyota calculating how you're using your car so they can be used more efficiently. this is current monitoring or you go and how you drive. information the government does not need. if the black boxes not work their want to back it up with your blackberry or iphone because they want to be able to monitor where you are traveling with that as well. stuart: you are kidding me. >> no, i am not. we now know that there governments silence, they can learn where are we are when this is on our person. they use this as well as the black box. my suggestion is take the black box out of your car. stuart: do you think that this is done deliberately to exercise
10:12 am
control over you, sir value? the conventional wisdom is that they are not pulling in as much as they used to. we are driving fewer miles. therefore taxes by a mile to replace that income. >> i think the motivation is to gather money. i think that is the initial motivation, but just like the nsa, spying on the german chancellor when she is talking to the president, spying on the president of the united states, this is an example of government in secret knowing no restraint. government monitoring where we go. we see a you pay this tax. why were you there? we will pass that information on . you won't even have privacy in your own car. stuart: slippery slope. >> it is. the use of technology to generate revenue for the government which assaults basic privacy interest. stuart: not that you do not
10:13 am
trust the obama administration but any government. >> the present administration is easy to mistrust. who would trust my cousin janet the polish town know who is gone now. i'm only kidding. we are not related. but this is the type of affirmation that government will abuse. it is the nature of government to want more and more in formation. what kind of spies would spy on their own president? monitor wherever anybody goes? the bureaucrats in new jersey monitoring every place that he goes because even his car -- and i'm not picking on him, but this is an example, even his car will be monitored. stuart: all over again. plenty to worry about. >> the net job, the doctor from california is extremely troublesome. i bet your cross examination was
10:14 am
very professional. stuart: you want to round it out like that. >> of a bit of flattery. [laughter] stuart: the dow just turned positive. microsoft into positive territory. thank you. not bad at all. check this out. sunken treasure, gold and silver bars worth hundreds of thousands of dollars. live. i want to know who gets the money. it's next. ♪ [ bagpipes and drums playing over ]
10:15 am
[ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account. pcentury link provides reliable yit services like multi-layered security solution to keep your information safe & secure. century link. your link wiwith what's next. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts
10:16 am
watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. ido more with less with buss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind. try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align. it's not the "juggle a bunch of rotating categories" card.
10:17 am
it's not the "sign up for rewards each quarter" card. it's the no-games, no-messing-'round, no-earning-limit-having, do-i-look-like-i'm-joking, turbo-boosting, heavyweight-champion- of-the-world cash back card. this is the quicksilver cash back card from capital one. unlimited 1.5% cash back on every purchase, everywhere, every damn day. now, tell me, what's in your wallet? stuart: charles will make us some money. the restoration hardware holdings. >> absolutely phenomenal. store sales up 30%. that is down year-over-year. the stock took a hit on the news. now it has made a nice reversal. i think this is $100. stuart: furniture. furniture. >> great furniture. these galleries that will open next year in atlanta, los
10:18 am
angeles, other places. the markets are absolutely amazing. stuart: i thought it was the floor company people. liquidators. >> it came back. stuart: entertain the president in your home. >> he probably did not know about it. whatever. stuart: plenty of pirates on thursday for halloween probably, but today sunken treasure right here. $36,000 in silver. joining us now, presidents of on receipt marine exploration. he has gone to the deaths and brought back real genuine treasure. abel run through it fast. a whopping great big block of silver. >> 80 pounds. that is almost 1156 ounces. as you said, $36,000 sunk in
10:19 am
1941. 4700 meters down. stuart: a german you don't send it. a british ship. >> coming from india to the uk. we've recovered 110 tons of that silver. stuart: want to talk about this. you have a deal with the british government. they get how much of the take? >> this is a commercial agreement. we cover our expenses and then we split 80 / 20. stuart: 80%. >> typically it is only a 10% share. stuart: for years and years and years you guys went under the ocean, brought something up. who owns it? some government will say that is mine. i don't care if you have it. it's mine. now, is this a new era of
10:20 am
agreement? >> i think that selvage agreements have gone back hundreds of years, but applications is relatively new. >> before or after? it seems like you have to sign this. everyone shows up. >> it is a great point. we had a pretty bad experience recently with the u.s. judicial system took away treasure from mice which led to the transformation of our business model where we proactively security agreements with governments. it. stuart: i will point to a couple of gold bars. one is 19 pounds and one is 28 ounces. together worth about a quarter million dollars. these are from which rack? >> one that still has not been definitively identified. 1500 feet of water. south of the key west.
10:21 am
stuart: american jurisdiction waters. >> yes. stuart: who got this money? >> we did, the predecessor company to the odyssey. it. stuart: little coins here. written in two. >> there were actually handwrought which is why they look so rough and range from a third of an ounce to announce. stuart: you will tell them not for the silver content but for their historical value. >> correct. it these coins sell depending on condition and rarity from 200 to $600 an ounce with only a third to 1 ounce of silver. stuart: the money is yours. >> that is correct. stuart: trial agreement. >> that's correct. stuart: which shrek are you going after next with a plea agreement with some government? >> we have our next series of commercial rights. we get 90 percent of the take. for under contract currently. stuart: a publicly traded
10:22 am
company. >> it is. stuart: i can buy shares of your future discoveries. >> please do. >> i have been wanting to buy your stock for years. the one thing that bothered me is a lack of insider buying. you guys have not been buying it. >> recently there have been as series of buys in the last couple of weeks. a couple of board members. >> you guys start buying, that piques the interest. check the form for us. >> definitely. >> there you go. thank you for bringing that up. stuart: good luck. another reason why tech is the big winner. kids under the age of two are using smart phones and tablets. we will bring you some numbers with the dow up right now. ♪ [ male announcer ] the founder of mercedes-benz
10:23 am
once wrote something on a sheet of paper and placed it in his factory for all to see. ♪ four simple words where the meaning has never been lost.
10:24 am
the challenge always accepted. and the calling forever answered. ♪ introducing the all-new 2014 s-class. mercedes-benz. the best or nothing.
10:25 am
10:26 am
♪ stuart: just about dead flat, down two points.
10:27 am
charles says, look for a late day rally. we will hit a new record today. he said that about ten at 7:00 a.m. eastern. nineteen minutes later and your ruling to which. >> absolutely. stuart: and a big name a you know. take a look at the ups, , ubs has raised its target price. ninety-seven. is this a sign of the times are what? a new survey. 30 percent of children under the age of to use smart phones are tablets. children are using technology for other things these days. i don't think there is anything wrong with this. do you? >> it is a fact this is on the rise. the growth is significant. do i see it as a problem? a couple of things. it can be educational. it can be harmful and
10:28 am
detrimental and addicting. there has to be ethics to people making these programs. to make sure that they are not addicting, educational, and respect privacy. stuart: charles, what you have a problem with the child of yours under the age of two being addicted to a teddy bear because i certainly would not? >> ultimately it is up to the parents. the problem is when the parent gives up their parental time with the kid and makes the smart phone the babysitter all day and night long. i would come home, watching spanish tv. he was like an he could not move. i brought my mother up from alabama. check him out every day two or three times a day. he came to life, vibrant, robust. so that is the real danger. stuart: i think that is the end of the discussion.
10:29 am
go ahead. >> if you walk around manhattan, they're all on tablets and i phones. the new generation, i don't know what we can do about it. have two kids. my son knew how to open the computer, it to the program, open the game. it is unbelievable. stuart: electronics should be a part of life, but it should not be all of life. i think we are all in agreement. extraordinary. two more stories. would you buy a curved phone? unveiling its latest curveted screen smart phone. supposed to follow the contour of your face using flexible screens to produce the current design. a samsung came out earlier this month with a similar product. no word on pricing or impact. check this out, mom maturing ratings on television programs that are viewed on mobile devices and tablets which could have a significant impact on
10:30 am
programs that appeal to you and your people who already view tv on their phones opening the door for a fuller and more accurate count. it rolls out next fall. after the break a top energy ceo is selling off coal mines and getting into fracking. that is news, and that is next. ♪ ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays...
10:31 am
that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade.
10:32 am
10:33 am
i'm, like, totally not down with change. but i had to change to bounce dryer bars. one bar freshens more loads than these two bottles. i am so gonna tell everyone. [ male announcer ] how do you get your bounce? [ woman ] time for change! [ male announcer ] how do you get your bounce? sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities.
10:34 am
cme group: how the world advances. stuart: if you want to know what you will be paying for gas, you better pay close attention to the price of oil. $98 per barrel. just as the price of gas starts to fall, the national average down to $3.28, down $0.5 in one week. missouri has the lowest average price in the lower 48. sellers and $0.94. did not the only place. it is a picture from a station in louisiana. $2.86 at that particular station. scott is at the cme. he trades energy products. i want to know when we will see
10:35 am
a real tumble for gasoline if ever? and no their is a lot of supply. the dollar is relatively strong which pushes the price down. when will we get our real drop? >> once again, the fed is involved here. twice they have made it clear that they're worried about low interest rates which says they are worried about deflationary. and how expensive it is a hundred dollar of oil in a deflationary environment. yes, the u.s. is in a better place. a recent highs were from the syrian effect. american vice president laid waste to that. now we're in a situation where we will be teeing off the economy. it is an economic issue, and it is a depression and -- you can start to see the opposite of what the fed wants to have
10:36 am
happen, some deflationary which is what they're all worried about. and not inflation. stuart: fascinating. very interesting stuff. keep us in line. it is hard to follow. thank you very much. regular viewers of this program know how much charles likes to play natural gas. he is not the only one. consol energy will sell five west virginia coal mines and focus on growing its natural gas operations. the ceo of consol energy. welcome to the program. to prepare -- to questions. the first is about coal. is it did? is it going to be dying out as an energy source? >> it is today's fuel, and will continue to be. it will not go for a while. it is being discouraged.
10:37 am
probably going to burn until the plants are finished or until we change policy. the real story is a found all of this natural gas. stuart: you are stealing -- selling five and getting three and a half billion dollars. you are putting that into fracking, more into the natural gas. does that mean you think that nothing is going to stop fracking? no matter what happens. >> i think it is a safe way of extracting gas and has been going on for 50 years. the technology is there. at think it is a domestic feel. we will figure out a way to do it properly. stuart: you have natural gas deposits within your company. where are they? >> there are in a unit kirk, the same footprint as our coal
10:38 am
business. it is natural for us to do both. >> do you think that the governor of new york, do you think he's going to allow fracking in the state of new york? there is an awful lot of shell gas underneath new york territory. >> and think eventually. they have to be satisfied that it is safe, and these other states, there are proving that it is safe. so i think eventually they will because they cannot afford to be left behind. stuart: what proportion of your business is natural gas at this moment? >> right now is about 30%. a plan for it to be 50 / 50 next year and then probably 6040 a year after. we are growing rapidly. high rate of return and the coal business is flat right now.
10:39 am
we are redeploying our assets. stuart: ceo of consol energy. thank you for joining us. very much in line with what is going on. it thank you for joining us. it. >> you bet. stuart: the dow down nine points. so far. remember what charles says will happen later. s&p one year later, global warming still is the blame. we will deal with that next. ♪
10:40 am
10:41 am
♪ stuart: a record deal with emirates. the financial times reports they are in advanced negotiations to buy jets, $30 billion worth. they refused to comment, but down at ten. the new york stock exchange, a tough run. over the weekend it was successful. hundreds of thousands of orders aimed at avoiding technical
10:42 am
problems like the one that happened to facebook did you, not to mention the mess with obamacare. between 17 and $20 which would be november his second. gm is a loss best-selling author maker. twitter sold over 7 million vehicles edging out gm. that is just one moment. it's a growing trend in business:
10:43 am
do more with less with ss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind. stuart: going back to take another look at the natural
10:44 am
resources. at thinks he still likes it. >> i did it in july. august twice. on the cusp of a major breakout. very concerning. last time we reported operating income was up. looking pretty good. some pretty interesting comments. stuart: is that a coal stock? >> yes,. stuart: right after this gentleman said forget call. but surely they are producing it and exporting. >> they talk about it. the key phrase, china has a healthy face, not only economic growth, but reforms. technically if it can get above 25 it will be off to the races. stuart: one year since hurricane sandy ravaged the east coast. the mainstream media continues to and use the storm to push a global warming agenda. i think first of all you have
10:45 am
some numbers on the stories one buy the broadcast networks on sandy. go. >> we have seen all of the devastation. what we find is that every single time way talk about sandy or global warming or climate change, they are linking it to. we have seen experts were years telling us that we cannot link climate change our global warming to a specific event. it is okay when they do it. stuart: hold on. was there any counter opinion offered on the story? you looked at 32 stories. 100 percent of them linked climate change to hurricane sandy. did anyone come on and say, it is not that clear-cut? did anybody? >> no. they did not have anyone on. 6 percent of the time that they even had the most casual mention.
10:46 am
that is the extent. they never had anyone on who would disagree, and there are a lot of people. stuart: listen to what the los angeles times said, and editorial, from the editor of los angeles times, simply put i do my best to keep errors of fact of the letters page saying there is no sign humans have caused climate change is not staying in opinion, it's a serving a factual inaccuracy. the l.a. times will no longer accept letters from global warming skeptics. >> it is more media. at least they are honest that there will not let anybody have a counter opinion. all of this stuff is based on predictions. the predictions thus far have been consistently wrong. we are wrong. next time down road, then you can expect we will be right.
10:47 am
they're expecting anywhere from one to 3% of world gdp to be spent on climate change. they're doing it based on guesswork. stuart: go away and the kid media coverage of the obamacare mess. i have a suspicion. >> we have been doing at. stuart: in this one area i suspect the establishment media is becoming of a more skeptical of obamacare and not the gun her supporters from purely surveys. am i right? >> what you find is that prior to the vote among so back when it mattered before the shutdown vote, they did not talk much about the problems. after the vote, they talked of a lot because it made it impossible for them to ignore. stuart: give me the full report mira available. we appreciate it. it turns out a class maker of
10:48 am
first lady michelle along his top executive of the company that developed the obamacare website. is there a link? we will explain. when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn from what happened so we could be a better, safer energy company.
10:49 am
i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. and this park is the inside of your body. see, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. metamucil. 3 amazing benefits in 1 super fiber.
10:50 am
10:51 am
>> coming up tonight, one of the most hotly contested, nastiest political races in the country.
10:52 am
a torrent of big money is rushing into the race and raising the stakes for the governorship of virginia. republican candidate virginia attorney general joins us here tonight at 7:00 eastern. join us. ♪ stuart: is this a coincidence? first leading michele obama princeton university classmate is a top executive at sea gi, the company behind the disastrous health care website rollout. the senior vice presidents of cgi, the u.s. arm of a canadian company. the coincidence? >> it could be. but here is the thing. why would a canadian company get this in the first place? silicon valley wanted president obama to win. they gave him tons of money, billions of dollars. he could not ask them for help.
10:53 am
we could not get an american company to go after this? it boggles the mind that there would get this in the first place. stuart: having a billion dollar mistake problem in this province of ontario in canada, talk about that and made a big mistake. yet they get the contract to rollout obamacare. >> they could be eligible for up to $4 billion. it was the bush administration was said to you, at cgi, you are an acceptable federal contractor . $4 billion worth of contracts that you can win no bid. >> first of all, if i am the president of the united states and this is my signature achievement i am going for the best. believe me, cgi is not on the list. it was not on the list before and certainly is not now. stuart: thank you. you asked, so i will deliver the answer.
10:54 am
my first car. your take on it next. [ male announcer ] the founder of mercedes-benz
10:55 am
once wrote something on a sheet of paper and placed it in his factory for all to see. ♪ four simple words where the meaning has never been lost. the challenge always accepted. and the calling forever answered. ♪ introducing the all-new 2014 s-class. mercedes-benz. the best or nothing.
10:56 am
♪ stuart: recently i have been recording videos to put on our facebook page answering your questions. i talked at length about my first car, and 1972 oldsmobile delta 88. you had a lot to say about your first cars. joe, my first car was a white toyota corolla 1969, one of the first small cars in new york city. no one had ever heard of a toyota at that time. tommy says his first car was in 1964 international scout. my father lent me $500 to purchase it, and i had to pay him back every penny. billy says her first car was in 1977 toyota silica, electric blue, red racing stripes, no
10:57 am
power steering. she says it was a glorious. your first car. >> yes, 66, boston. but it in a bomb. ask my body to ship it to me. he did not ship it to me to be called my body's up. rain and sun. it rotted. [laughter] stuart: you were in the military >> the air force, based out of qualm. i have to have the cars sold. i asked my body if he could ship it for me. no problem. phelan love with a girl and she broke his heart and the car sat there and brought it. he stopped responding to my mail. [laughter] stuart: i don't want to digress too far, but is it true that it is invested with snakes?
10:58 am
>> it is quite a bit. the worst of the frogs. a lot of frogs, and a jump in the middle of the road and just stand there. you're driving along going crunch, crunch. it. stuart: i heard it was invested with brown snakes. >> they destroyed the island. you know, of course they might be extinct now. stuart: by the way, this afternoon we will post on facebook my response to one of your questions which was, who are your role models? we will post it this afternoon. if you wish to check this out, check out him my role models are, that would be facebook. before we close, you are still saying record high for the dow by the end of the day. >> i think so. the momentum. i still think there will be a big charge. stuart: it might not be today,
10:59 am
but this week. >> a lot of corporate earnings. stuart: i say that if we were to delay obamacare for your and even better if we're rescinded the tax increases that go with obamacare and janet prince like crazy, down 17,000 by the spring >> i'm with you. [laughter] stuart: all right. i will throw it to you about 30 seconds early. i hope you are prepared. connell: this is great. i'm on it. i hope you made that list. thank you. another old up for the obamacare online and roman system. can the ministration deliver. that's one of the big questions we will be talking about here. you probably are happier in your
11:00 am
job than most americans. new members on that. the mobile generation. more and more children under the agent to her using smart phones and tablets. all of that. ♪ >> i am somewhere between toddlers' and people in their fifties. connell: no doubt using technology. dagen: really not. congratulations to my parents who bought smart phones for the first time. connell: all of the technical questions. dagen: that is my brother. he goes to the store. brother. top of the hour, everybody, time now nicole petallides at the new york stock exchange. >> reporter: hey, talking abouten and connell, good monday morning, everybody. we're seeing the markets

149 Views

info Stream Only

Uploaded by TV Archive on