tv Varney Company FOX Business December 10, 2013 9:20am-11:01am EST
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♪ imus in the morning >> the weather tops the financial news. will you go to the mall? in this? good morning, everyone, two weeks to christmas and a winter storm is hitting the most populated parts of the country. just about everyone has seen bad weather at some point during the past week. it looks like a bonanza for on-line shopping, maybe? we're calling it sticker shock 3, obamacare will not pay for life saving prescription drugs. first came the shock and then the prescription drug shock. redistribution in the obama era confirmed by government bean counters. yes, the top 40% of income earners pays for everything.
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stuart: >> all right. let's get to the breaking news from general motors. no longer government motors. mary barra will be the next ceo of the company. she'll be the first female chief in the country's entire history. she's currently the head of global product development. we don't know quite yet when the switchover will occur, but she's coming. obamacare sticker shock round three. first came the high premiums and then our deductibles off the charts and now people with pre-existing conditions like cancer and aids are finding some obamacare plans don't fully cover the cost of their drugs. there's been some chronically ill people and now paying over $1,000 a month to cover prescription costs. here is what the senior advisor for medicare and medicaid told megyn kelly last night. >> the list of drugs that plans cover in many cases aren't long. if the drugs aren't cover
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you're on your own and you basically have to pay for it entirely out of pocket and the money spent on the drugs doesn't count against your out of pocket limits and doesn't count against your deductible. stuart: even the architect of obamacare, zeke emanuel says if you want your doctor, you can pay more. and now the same for drugs. and the winter storm, snowing from d.c. to boston, freezing cold temperatures throughout the midwest. 3 to 6 inches of snow expected from maryland all the way up to new england. lots of schools and government offices closed already. thousands of flight delays. now, here is a positive-- a possible positive. people are likely staying home and shopping, another win for on-line website, maybe amazon.com. here is the question, is there a weather play on the stock market? we'll have an answer coming up, along with the early action on wall street. i'm afraid to tell you, we will open lower today. every day we're working to be an even better company -
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and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor.
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on-line retailers. well, we'll see. but we do have some winter weather stock plays coming up for you. coming up to the opening bell, about a minute from now, here is scott shellady lurking in at the market and iacket. see gold up 20 bucks and oil close to $100 a barrel all over again and i want you to tell me what's going on. >> well, i tell you what, we've had-- we've got a short cover going on in gold. that's an inflation head. we don't have inflation, sell it or at least don't be long here and ultimately i think it goes to a thousand. gold is going to have-- it's going to hit on the head because of deflationary pressures not inflationary pressures. seeing the rally on opec pumping less and maybe inventory draws tonight or tomorrow morning and have folks that think the economy is doing bet are we want to buy oil? no, the economy is not better. you don't want to be long oil at00, i think you sell it with
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both hands here. stuart: that's interesting, gold goes down to a thousand bucks an ounce and oil retreats from 100 bucks a barrel. a rare forecast on scott shellady and we'll see if he's right. thank you, young man. . [bell ringing] and you can hear the bell ringing and when it stops they start to trade stocks, i say that every day. we're looking for maybe a 40, 50 point drop for the dow when everything gets moving. that should carry it below 6. now we're up 3 1/2 points, hold on a second we'll likely see a downside move, give it an um can of minutes. and we're in for winter weather, and what stocks can you play when the weather turns bad. how about home depot? your show shovel there, and amazon on-line shopping, market watcher, shah galani miami
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where the weather is not a concern. give me winter weather plays on the stock market, shah. >> as far as the three you've mentioned i'm not keen on all of them. all of them have a great run, as far as home depot, a little parabolic in the last months, i think a little overbought. as far as the generator maker, that's a terrific company, but small flow and i wish i'd owned it a couple of months back, it's done well. i like, right here if i was going to play the weather, play united states natural gas. i think that ung is in the middle of its range and i think we could go higher in natural gas if the weather continues to be bad, it could go a lot higher. stuart: it under so like you're down playing the whole thing about the weather play. it's winter, not quite, but december 21st we officially start, but it is winter and you would expect bad weather. and surely, this is factored into the market. so, are you in fact downplaying the whole idea that you can
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play the weather in winter on the stock market? >> absolutely. i think just like the weather being dicey, trying to get in on a weather related play in the stock market, especially when the bad weather hits is already probably too late and i think some of the stocks could have a little bit of a pop and they're going to fall back to natural levels. i don't think there's longevity in the move because of the weather. stuart: i like to see you straighten us out even from miami. stay there, i'll get back to you in a moment. nicole, general motors named a new ceo, mary barra, the first female ceo in the company's history and i found out she takes over in mid january. the outgoing ceo's wife has cancer and explains the rapid movement in of mary barra. the stock is hardly budging on this. nicole: the stock is hardly budging. it did hit a high yesterday and the treasury has been exiting general motors and that's a big story coupled with this one. what's interesting about mary barra her father worked at a pontiac motor division for 39 years in michigan, and she went
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in there 18 years old as an engineer. and then went on with the company and the like. so, even had an internship and also worked as an executive assistant and she certainly climbed through the ranks. stuart: okay, she's a car person from the get-go, go the it. listen to this one. lululemon, first the founder put his foot in his mouth and then he cried about it and now he's stepping down as chairman. is there any reaction on the stock, nicole. nicole: the put the foot in the mouth if your thighs are too big you probably shunting wearing them, something like that is what he said. yeah, so we are going to have a changing of the guard. founder and chairman chip wilson is moving out and someone coming in louie vuitton, mbmh and tom's shoes as popular as well. a new chief executive coming in and you'll have chip wilson headed out. stuart: thank you very much indeed. i want to check the overall market for a second, we're expecting a down side move of
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30 or 40 points. we're coming back, 24, sitting right at 16,000. check the share price of twitter, most people are checking the share price of twitter-- checking the share price of twitter, i should say. an all-time high now at 49.52. shah galani still there in miami, if you haven't bought it yet, is it too late to get into the twitter game? >> i think it's a little bit late. i don't think i would want to buy -- i wouldn't recommend buying here. i don't know what kind of upside it has. it's already had a terrific little run and i think it's going to settle down 10, 15, maybe 20%, it's far too dangerous to buy close to the top. and you know, the earnings are ridiculous in terms of the p.e. and the profitability, there's nothing there. why? why would you pay almost $50 for the stock? i don't understand it. stuart: maybe because everybody knows about twitter, it's a worldwide global company.
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it's one of the principal news reporting operations in the world right now and maybe they can make money out of that in the future. hold on a second, shah, i've got jeremy kaplan with us, science of technology editor for fox news.com. you've never been a fan of twitter and you don't look at it financial will you, but look at it as a piece of technology and you don't particularly like it? >> what you said is true. it's a well-known brand, incredibly influential in a lot of ways, on the other side it's also not particularly interesting. and then as a stock, if you're looking at it financially, they just aren't making money at all, nothing. so, it's hard to justify that price, really. stuart: but as i say, look, everybody knows about it. it is a-- it's a global brand. within a couple of years of its launch, it is a global brand. you have to assume that there's no way that they could make money out of their global brand position down the road. that's the assumption you're making. >> there has to be some way that they can at some point
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make money, unquestionable. there has to be something they can do and one of the reasons we've seen this little bump. they introduced a new ad tool and searches through your history and notice you said i like that lego model and allow lego to advertise against them. so, one way they could perhaps at some point, potentially monetize what they're up to. stuart: you don't see it? >> i've used it, i don't like it. maybe that's more of a personal response than anything. i just have found it to be less usable and more a mouth piece of shouting out information to people. stuart: some people say that twitter is clunky, and it needs a new approach for neophytes like myself before i'll go on it. >> it's unintuitive and carries its own language and hash tags and what's trending. if you're not familiar how that works there's a barrier getting into it. one of the things that might be preventing people from-- although there's a great base of people who use it, it's hard
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to tell what's going on with this company. stuart: how about ebay? ebay's ceo calls amazon's drone delivery plan-- remember that one revealed on 60 minutes. the ebay guy says that amazon's plan is long-term fantasy about the drones that will deliver your packages on amazon. >> it's hard to imagine a world where a robot flies to your house and says here's the magazines you j us ordered. stuart: but when a guy like jeff bezos says it, it's pr, right out there with the futuristic thing and b, he's the guy who makes things happen. >> it's interesting that ebay is commenting on it. you have to look at ebay and amazon and both delivering things to you, but they sell very different products. ebay sells a lot of big things. ebay motors you're not going to get a car delivered by robot. amazon sells small things and big things. i could see a world where dvd's are delivered to your front
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door. and amazon is on demand, right now stuff. you want is it it delivered today, a drone will deliver it today. stuart: you don't see it happening? you believe it's fantasy, don't you? don't you? trying to put words-- >> we have the technology, but is it going to happen? i don't know. stuart: profit down on the home builder, toll brothers, where is the stock? >> well, the stock here is higher. a couple of things on why it might be higher. right now, the profits did drop. the units delivered it was over nearly 1500 units and i'm sorry, a 36% increase in year over year, you still have relatively low mortgage rates and good day for toll brothers. stuart: yes, it is, 34 on toll brothers, here is a headline from the government bean counters themselves, this is the congressional budget office. the top 40% of taxpayers pay all of the federal income tax
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brought in by the treasury department in the united states of america. they pay it all. the bottom 40% actually pays nothing. in fact, they get some money back from the government in the earned income tax credit. now, shah galani, i know you're a stock watcher, that's what you do, you watch markets, but i'm sure you pay a lot of taxes. do you think it's fair that the top 40%, including you, pay for everything? >> i don't know that it's unfair in terms of the top 40% paying a lot of tax, but i think that's fair. what's not fair is the redistribution, i think there should be means testing and don't forget, this report was 2010. i would hate to see what 2013 is going to look like. i think the difference will be even wider, but i'm not against, you know, folks who are making a lot of money paying a bit more in taxes, but what i'm against is weak distribution and this report is called the distribution of household income and federal taxes 2010 and it should be the redistribution and this is the problem i have with it, because i think that the average of
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close to 19,000 in transfers to the lower 40%. 19,000 per household and i think there's a problem there. stuart: yes, indeed. shah galani, thank you for joining us, appreciate it. and jeremy kaplan, good stuff even though you don't like twitter and amazon's drones. and good luck. >> when the drones come around. stuart: when the drones come around you'll be around. check the dow, 28 points just below the 16,000 mark. then we have the architect of obamacare, zeke imemanuel. and yes, you can keep your doctor, but you have to pay for more him. it's the latest sticker shock after the break. ♪ i don't care what you say anymore, this is my life♪ ♪ go ahead with your own life, leave me alone♪ . (announcer) scottrade knows our clients trade
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i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rate cd. ally bank. your money needs an ally. >> you saw our greeting to nancy, it's her birthday. she's the director of the show and since today we're christening a brand new set nancy has a tough job on her birthday. happy birthday! and just above 16,000, kind of the benchmark of the day and check the price of gold. whoa, we're up $30 higher at 1,264. check the price of oil. we're up 88 cents, $98 a barrel right now and we are calling it sticker shock 3. first came the premium shock and then deductibles and now the prescription drug shock. you will be paying more out of pocket for your medication under obamacare, even if you
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have a chronic illness. and a health industry watcher with the galen institute joining us. i want you to put parameters on this. does it affect a lot of people or a very, very small minority? >> this is going to affect a lot of people who are getting their health insurance coverage through the exchanges. one of the things many people are signing up for plans before they can actually even see the doctors and the hospitals and now, the prescription drugs are going to be offered through their plan. the people who are most concerned are people with chronic illnesses, like multiple sclerosis or now aids treated as a chronic illness, because the plans are having very limited so-called formulary, the list of drugs available for these plans. the drugs they may need may not be available and they may very likely either have to pay a very high co-payment or pay completely out of pocket for these drugs.
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stuart: were the people who are affected by this change, were they getting those drugs entirely for free or entirely covered previously and now they're going to get hit with a huge payment? >> when people could choose the plans that they wanted, they often chose plans that provided access to the drugs they needed at the most affordable price. some people know that they're always going to hit their deductible because they're on expensive drugs, but for many of these plans, t costs don't count against the deductible so they pay every month over and over several thousand dollars. that's new, stuart, and people are going, this is going to be a whole new level of sticker shock that's going to hurt people who most need access to health care, to these treatments and to the coverage. and they are going to find that these plans are much more bare bones in order to provide access to maternity coverage. stuart: right.
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>> and rehabilitative care that they may not need. stuart: it's one problem after another. chaotic rollout, we have got that. i want you to look into the future for us. i don't think this will be repealed. i don't ng that president obama would do that and sign any such legislation. how does it play out over the year? >> i think they're waiting to get as many signed up as possible for the plans before they realize they are going to have to delay the individual mandate because they-- people are just not going to be able to get signed up for coverage. they're going to have to do this. they can't penalize people if they can't buy the plan. stuart: let me-- i'm sorry, i hate to interrupt you, but look, if they do delay the individual mandate, does that gut the whole process or does it-- it just puts off obamacare for a year, doesn't it? >> it does, until the 2014 election. the individual mandate is the center pole in the tent, stuart. if that's taken down, then the
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whole infrastructure starts to not work and they're going to have to go back to the drawing board and those dozen or so democratic senators who voted for this, who are up for reelection next year, are going to be the ones, i believe, that are going to push for change, delay giving as many people an escape hatch as possible. stuart: let's supposing it's delayed for one year, real fast now, will the taxes that have already been imposed be delayed? >> no, absolutely not. stuart: you see, that would give a huge shot in the arm to the economy. repeal those tax increases and look what you can do. grace, i'm sorry we're out of time, but good on sticker shock 3. your privacy gone, it's not coming back. every day you, you're being watched and my take on that instance. ♪ private eyes are watching you♪ ♪ they see your every move
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pep boys, the stock down 10%. a different story at autozone, profits rising and they say, believe it or not, cold weather helps their sales and that stock is up 2 1/2%. there will be no tailgating at the super bowl. what? how could that be? what's the reason, security maybe? and brian kilmeade has the full story in our next hour, plus, we talk to the man arrested for plugging his electric car in for a charge and they arrested him and charged him with theft. and here is my take on privacy. it's gone. and it's not coming back. the days when you could go about your business without prying eyes looking on are over. it doesn't matter where you are, walking down the street, inside your own house, doing your shopping, going to the bank, driving, messaging friends and family and messaging at work, making a phone call. in all of those locations, in all of those activities, you could be trapped, followed, observed, traced and yes, spied
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on. all of this, in my opinion, is a result of the technological changes we've seen in the last generation, specifically the internet which can be hacked, and the ubiquitous camera. just about everywhere you go, a picture is being taken of you. whatever you put onto the internet, it's recorded somewhere. and this is what gets to me. the growing feeling that i am he a being watched and i'm being trapped. and you know what? there's nothing that i or you can do about it. you want to live in the modern world, you've got to live with the electronic eye that's almost on you. and may get worse. what happens to our privacy when the era of the drone fully arrives? a enshrined in laws is the idea that citizens have an expectation of privacy. i no longer have that expectation. in fact, i expect my privacy to be intruded on. i think we've lost that shield. i'm not blaming anyone, nothing
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>> tuesday, december 10th. 15 days until christmas and shopping disrupted for tens of millions of people and maybe that's why on-line is exploding. moments from now, we have for you the electricity thief. he plugged his electric car into a school's power source and he has been arrested. no tailgating at the super bowl
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in new jersey next february. what's with that? brian kilmeade is here and so is the guy who will pay big bucks to rent your house over the super bowl weekend. yes, he's here. and actor paul sorvino is here and he's changed his mind about obamacare and charles payne on california where they, too, have turned on obamacare. ♪ oh, how is this for an obamacare headline? as california wakes up this tuesday morning, californians like the bullet train more than they like obamacare, what? according to a new poll, just 43% of independents approve the plan to buy, to build the high speed bullet. and only 40% say they support the president's health care law. maybe here is why. 900,000 health insurance policies in california have been canceled as a result of
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obamacare. charles, the president has been touting california as a success and so has paul krugman, california is the social petry dish. if it can't work there, it can't work anywhere. of course he's touting california. there was a piece and-- >> finley is a frequent quest. charles: they talk about ben of costa mesa, took him a couple of times to get on, one time six hours on and they have paper applications backlogged. a million people just about have lost their policies and it's not living up to the billing and here is the problem, word of mouth is what makes something like this successful ultimately and they ain't going to get it in california the way they've started. stuart: this is california. i mean, they've never seen a republican that they like since ronald reagan. charles: and never seen a tax
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hike they didn't like. stuart: precisely. charles: the fairness doctrine rules. stuart: i think this is an indicator. if california turns against obamacare, it can't be long before the rest of the nation really, really-- >> no doubt about it. and definitely no doubt about it. californians are the perfect test bed for this thing and it's been a disaster. stuart: we like them, don't we? >> we always planted the flag in california. stuart: is sandra smith with us on this? >> i'm here. stuart: she's coming up shortly, sandra, sandra, can you hear me? >> i can hear you now, what's up? >> do you have any upon what's up? and they told me in my ear that sandra smith wants to make a comment on california which is now turned against obamacare. and do you wish to make such a comment? >> in a word, inevitable. it was inevitable. you know, hey, listen, at the end of the day what california has done and what it is doing,
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it's unsustainable and when they see something like obamacare on their plate, they realize it's going to put them more into a hole than they already are. they're going to get people turning against it, bottom line. stuart: wasn't that a superb ad-lib comment. and she wasn't expecting the camera, but that's genius. he can ch-- check the big board, please, now we're down 14, and 16,011. take a look at this. american's net worth up nearly 2 trillion dollars in the latest three-month period and the total now is 77 trillion. that's a record. charles, you have been telling people for as long as the show has been on the air to get in the game. charles: it's all about ownership. stuart: it's all about the stock market. because the stock market is up. charles: the stock market is responsible for 900 billion. housing values responsible for about 470 billion, it's ownership, having a piece of the pie, and i don't know how
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they successfully did this, but they did under president bush when he suggested maybe we should have social security inside the stock market and everyone went crazy and of course we had the crash and see, see, we told you. could you imagine if social security main was in, let's say the top 100 companies, where social security would be right now? the stock market would be a lot higher because it wouldn't crash all the time and americans could sleep better at night. and stop being a consumer only, no excuses, you smoke two packs of cigarettes a day, you could own something. stuart: and sandra, oil closing in on $100 a barrel, 98.40. what's going on? >> and this is despite the fact that we have plentiful global production right now. so, this is a demand story. we've got numbers out of china on industrial production, up 10%. last month, year over year, they're consuming more oil. right here at home we're getting better than expected
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economic numbers and this is all feeding into the crude oil market right now and stuart, not only that, we've got a weaker dollar scenario pushing up prices, so triple digit oil is right around the corner and you're seeing it in a lot of the major analyst notes right now. and enjoy the lower gas prices while they're still there. >> stay there for a second. i want to go back to nicole at the new york stock exchange. general motors naming a new chief, first female ceo mary barra. i don't think there will be a reaction on the stock, but check, please. >> and the stock a 1/4% of yesterday a new high of 41.17 and she beat out the chief financial officer, the gm north american president, vice-chairman so she certainly had a lot of competition for this role. the other story about gm is a big one, is the government exited gm, leaves the taxpayers short about $10 billion of the funds so obviously that's not
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good news. stuart: you can't call it government motors. yeah, you can't call it government motors any longer and from mid january on it's going to be run by a lady. nicole: right. stuart: let's bring back in sandra and charles. a woman running general motors, a huge industrial concern. any kind of a big deal, do you think, sandra? >> absolutely, both for women and for all interns worldwide. i mean, she started as an intern on the factory floor 30 years ago. just goes to show you a real success story and how you can rise through the ranks like that and also, stuart, from the female perspective, she joins ibm, pepsico all run by women and get there on their own merit and i think this is a growing story here now to have a female chief of general mottrs. stuart: all right, sandra, let's bring in charles. your thoughts, please. charles: i agree with sandra and i also think it's good to have someone that other people can look up to. in this particular case, it
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might be young ladies out there, girls, who have someone to look up to. this society, one thing i do hear a lot from both sides of the political aisle is can't. you can't get those people to do this, those people wouldn't ever do this, you can't, can't, c can't, can't, when did we become the country of can't? and if i'm a young girl, i'd have a role model, you can in america. stuart: well said, charles. we have super bowl 48 two months away and if you're lucky enough to go to the game, you'll need a place to stay. why not turn in your hotel room for a few days in somebody else's house? i don't know why the judge is laughing. >> i want to rent the varney mansion. stuart: it's not a mansion, it's a cabana. stuart: what better way to make money than rent your home if it's near the super bowl. it helps you rent your home for the big events like the super
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bowl. this morning we have the general manager of flip key joining us i think from boston. eric, you do that? and let's take a typical nice suburban, new jersey house within five miles of the stadium, for example, three bedrooms, two baths. how much would the owner of that house get for the super bowl weekend? >> for the weekend itself, you know, we're looking at, you know, several thousand dollars per night for a place like that. we actually have a four bedroom place on flip key right now that's approximately five miles from the stadium that's renting for i think $6300 per night with a four night minimum stay so you're looking at and if you want to stay the entire week, $40,000. stuart: whoa. now, that's a house that you are offering for just over $6,000 per night. do you have any takers for similar homes at similar prices? >> yeah, it really runs the
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gamut. we've obviously got properties a little lower than that, but typically big events like the super bowl, provide a great opportunity for people who live in that particular area to be able to make, you know, several thousand dollars for a very short period of time, you know, in terms of the rental period. stuart: what's the down side risk, if i give you my house to rent out for the super bowl weekend. what's the down side risk, i know i'm making a decent amount of money, what's the risk? >> there's really not a tremendous amount of risk. obviously. >> could trash the place. >> come on, they could trash the place and get drunk or do whenever they do and trash the place. there's some risk in this, isn't there? >> there is and you need to make sure to prepare your home. we always recommend, especially for someone who is new to this to go through the home and identify any valuable or irreplaceable items and store them in a lockable closet and you want to make sure you take precautions and a lot of our owners speak to guests prior to coming and make sure exactly
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what you refer to, make sure it's not kids just there partying and so forth, but as long as you have a rental agreement in place and as long as you have outlined the terms from our experience, you know, we don't see real issues. stuart: okay. >> like that. a lot of our owners require a security deposit regardless to cover accidental damage. stuart: interesting stuff. eric, thank you for joining us, an interesting proposition there. thanks. >> thank you, you're welcome. stuart: a big name you know, yahoo! hitting another, i think it's another new high. rbc likes it and raised the price target to 44. that's the target for rbc. so, nicole, where is yahoo! now? >> the stock had it a new high on the call from the analysts, 1 1/2%. and right now. the high was 39.63 and the new price target 44 up from 38 and you know why they did this? they say that it's a stake that yahoo! has in alibaba and we don't know when it will go public, valued now at roughly 36 billion up from 26 1/2, and that's why they raised the
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target. >> and that's understandable. how about twitter? i think that there's a new high there. tell me. >> a new high. remember the ipo day was a busy one across 50 bucks. well, today it just moved 51.82. that's a big deal. stuart: yes, it's a big deal. charles missed it, but $51. charles? >> i'm in yahoo! though. i'm in yahoo! and alibaba yesterday made a huge deal with haier, an appliance maker, and distribution centers. stuart: alibaba is the chinese version of amazon. charles: amazon all of them. it's almost everything combined and then they made the deal with haier, and it's a huge gigantic deal. stuart: and the bit that the judge wants to get into and i'm sure you want to listen to this. the and new reports that spying industries have entered the on-line gaming scene. listening to chats of world of
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war, and another story related to that the fbi can hijack your computer's web-cam without your knowledge. judge andrew napitano is here, and judge, i said earlier that privacy is flat-out gone and it's not coming back and i said the reason for that was technology. cameras are everywhere and the internet is here and you're not agreeing. >> i'm not cheering you on, i'm cheering on your eloquence, but not your logic, it's not technology that defeated privacy, it's absence of fidelity to the constitution of the government that defeated privacy. your countrymen, george orwell in 1949 when he wrote a terrifying novel called 1984, predicted that the government would use television sets in our homes to watch us in the room in which the television set was located and the critics
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panned this as the dilution of a paranoid. he was only off by a generation because his prediction was correct and it wouldn't be a television set, it would be a computer with an eye that can actually move as you move around the room. stuart: wait a second. >> is that the society that we want? he'll argue that it's inevitable. i argue if we stick to the first principles and the writes we left alone and the that's prohibits this. and-- >> what happens i'm walking down the street and i'm on a security camera. the government is nothing to do with this. >> we're talking public and private. if you want to talk about public. stuart: whether i'm in the public or privacy of my own home, i can be watched. >> in london, a city that i love. there are more cameras per block. stuart: that's true. >> than anywhere else on the planet. stuart: that's true. >> the second most populated with camera cities is the city
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of new york, because mike bloomberg loves london and wanted to mimic it. almost all the cameras you see here are government cameras on private property. if the owners of private property side you know what, commissioner kelly, we don't want your cameras on our property, the government couldn't afford to put up the cameras it wanted to. that's outside. and orwell's story, your story is about inside. we're talking about the government entering your home against your will and without your knowledge and watching you moving about your home. such a society is not inevitable. the american people can put a stop to it. you haven't put a stop to it. where is the lawsuit? >> because the politicians think that they look tough when they permit it. you know what they look? they look like the totalitarians that we fought against. stuart: okay. charles: but the talk earlier-- >> eloquent. >> what would it cost me to rent the varney mansion for the
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super bowl weekend? >> a lot. [laughte [laughter]. stuart: all right, judge, we'll return to this frequently, i'm sure. after the break, a man tries to go green briefly charges his car at a local school and he's arrested and spends 14 hours in custody. we've got him, he's here. you'll here his story after the break. ♪ oh, star of wonder, star of night♪ ♪ star with royal beauty bright♪ ♪ westward leaning, still proceeding♪ ♪ guide us to that perfect light♪ ya know, with new fefedex one re you can fill that box and pay one flat rate.
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[ male announcer ] ask your doctor today every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. >> it's that time when the great charles payne makes money for you. this time he'll make it for you with freight car america. what do they do. charles: they make freight cars and they make them, they make them. listen, they've had a tough go of it, but the company is coming along, real nicely. they came along in september and the next five years business should be extraordinarily great for these guys. almost a portfolio stock not a flip.
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something in a 4 o 01(k). there's 10% short position on it, but fiscal for next year, the street 1.21, and i think their business is going to take off. stuart: freight car america. we've heard it. thank you, charles. a man from georgia watching his son play tennis at the middle school decide today plug in his electric car to charge it, a nissan leaf. 20 minutes later after he plugged in his car, a police officer approached him and violated the law because it was considered theft. the officer did not make an arrest there, instead filed an incident report. ten days later the man was arrested at his home and spent 15 hours in custody for what turned out to be 5 cents worth of electricity. he's still facing criminal charges. this morning, we have that man with us. let's bring him in and joining us from atlanta, welcome to the program. do you think that they were making an example of you?
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>> i'm not certain. i don't want to speculate about the police department's motives. stuart: well, did somebody complain? presumably they saw you plug your car in at the school's power out let. do you know if anybody complained. >> that i don't know. stuart: what was the attitude of the cops when they arrested you at your home. what did they say to you, what was the attitude? >> you know, they were just, you know, normal. i mean, they weren't aware of exactly what the object of theft was, nor did i, you know, try to make a plea to the value of it. they had a warrant and they did their duty. i have no complaints about that. that. but-- >> well, what happens now, have you got a lawyer, are you going to fight this and point out it was only 5 cents worth of electricity? what do you do? >> well, i mean hopefully what
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happens now is some goodwill come out of this, some good already has come out of it. from what i understand, nissan has volunteered or i'm sorry not volunteered, but donating some charging stations to the city of chamblee. i am an electric car enthusiast so the story is, i think, letting a lot of people know that of the low cost of operating such vehicles, i think many people, including the police, are misinformed ouch it co-- how much it costs to operate. they've misrepresented, i'm sure, not with knowledge, but misrepresented to the judge that the electricity was up to $25. that's more than the actual value taken and people may think that's how much it takes. it costs about $1, $2 to fully
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charge the car. stuart: oh. and i've got to leave you, i'm flat out of time. that's interesting, the fact that it costs a couple of bucks to fully recharge the car and off you go, that we didn't know. kaveh. thann you for joining us, that's an interesting example. we appreciate it, thank you. >> thank you very much, thank you. stuart: and anchorman 2, brilliantly marketed. why? because the marketing is virtually free. after the break, will productions like this change the way movies advertise? >> you are one of the great quarterbacks playing the game today and you've had a lot of success and yet you've done it owl without a mustache and you run around out there and to be honest with you, you look like a succulent baby lamb. ♪
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stuart: starbucks, one of the biggest losers on the s&p 500 today is up 500% for the year but down 2.5% as of now. gold up about 3%. taking mining with it up 3.8%. time is money. here are the other headlines we have for you. san francisco, protesters blocking a private google shuttle bus taking workers to google's headquarters.
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locals feel they are being squeezed out by the incoming high paid techies. minard dicaprio teaming up with a racecar company to drum up publicity about alternative energy. and competing with washington state producing the newest jet. the state often the biggest tax break will likely get bowling's business, unionize or otherwise. new movie "anchorman 2" not out for another week but already generating a ton of buzz thanks to what i will call brilliant marketing. it's asterisk will ferrell appearing in character to sell products even host local newscasts and espn newscenter. if i am advertising a movie and i buy an ad in "the new york times," i pay for it. if i'm advertising movie and put an ad on cbs-tv, i pay for it. but if i get out there with my star on facebook and local news,
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i don't pay for it, that is why it is really at marketing, isn't it? >> yeah, that is one of the reasons. don't forget ron burgundy did 70 dodge commercials, dodge paid for that. and the youtube videos. it is brilliant. stuart: do you think you can do that with other products or movies or services? use a star to be in the commercials, have somebody else to pay for those commercials and the star advertises another product, is that possible? >> i think what you're seeing right now is a moment that marketing is about to change dramatically. not only for movies, but across the board. what the companies have figured out is there are a lot of ways to reach the audience. it used to be money was currency, but today what we're finding is attention is currency.
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using the ron burgundy character, the movie producers are able to get attention on so many different places and other companies are paying attention because this is going to be the future. stuart: it occurs to me will ferrell, he is clearly the star. he is drawn the attention to him. he is putting life into this character, ron burgundy. it appears to me he has got to be making a ton of money out of this. i don't know dollar numbers, but that has got to be the case. >> i think his q score goes up and up and up. he is reaching out to lots of different niche is. he was on sportscenter in character, he was on the canadian olympic curling trials. one of the funniest ones was a video congratulations to the irish actor that was picked for the lead role in ""fifty shades of grey." one movie promoting another movie, but it all comes back to will ferrell to ron burgundy and building this brand.
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stuart: is i it going to go that far? >> yes, i am. what they have done is look for every different niche they can stick this brand into. we talked about the silly things, but there is an exhibition at the museum in washington, d.c., of ron burgundy. they looked high, low, the middle ground, they looked everywhere they could. you can say they have, 360 degrees brand, reaching all the test points, but i think in this case these guys have done it. stuart: thank you very much, indeed. after the break, he once supported obamacare. now he has turned against it. find out why because he is here after the break. [ male announcer ] what if a small company
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meetings start at 11, cindy. [ male announcer get the spark business card from capital one. choose 2% cash back or double miles on every purchase, every d. what's in your wallet? i need your timesheets, larry! stuart: start with lululemon, please. the founder is stepping down as chairman. met a lot of controversial comments about women's bodies and gave a tearful apology, now
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he is stepping down. charles, that fits the bill, doesn't it? charles: yesterday we saw abercrombie and fitch double down on a guy who has insulted everybody on the planet. one did see there's a few more niche inhumanity that he missed. i think he diddthe right thing. stuart: the stock is at 70b at charles: now he needs to find a product that works. stuart: i am going to give you today's obamacare headline. number one, we will call it sticker shock. you have the premium shock, deductible shock, now the prescription drugs shock. you will be paying a lot more out-of-pocket even if you have a chronic illness. many people will pay more. next, californians like the what train more than obamacare. a new poll shows only 40% support the president's health care law. also, 900,000 health insurance policies in the golden state have been canceled as a result of obamacare. joining us now, he used to
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support obamacare, as i understand you do not any longer. you have withdrawn your support. >> how can you not? it was not well thought out. i like mr. obama, think he's a good man and his heart is in the right place, but he was ill advised. the entire construction here is silly because you get sick you should go to the doctor, the government should pay. the government is the primary provider of last resort anyway. in flood or any other way the government will pay, it should be taken out of our taxes. it is such a complicated mess. stuart: when somebody like you in your position turn around and says obamacare is a mess, we cannot have this, it makes headlines. >> it is obvious. i am not a member of any
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particular group, hollywood leader or any other. my thoughts are my own, their te based on my own readings of the paper like everybody else. the fact of the matter is it doesn't make sense and when something doesn't make sense, it doesn't matter who made it not make sense. in this case mr. obama was ill advised, the country was ill advised to pass it. stuart: you think we should repeal a? >> absolutely. i don't think you can repeal it. you have to hone it down. it has to be narrowed down to a single-payer situation. because nothing else will work. stuart: is there a single item in the news that made you change your mind? we have the appalling rollout, the cancellation of millions of people's policies despite the fact that they want to keep those policies, they are canceled. it has been rolling from one crisis to another.
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did something break the camel's back for you? no, all of it. the main idea here is why should you be told you must buy insurance? that whole concept is where it fell apart for me. you should have insurance. stuart: that is the whole point of president obama's presidency, pushing people around. forcing them to do this it wednesday themselves. >> the government has to do some things people won't or wants to do for themselves. we should force people to wear helmets and motorcycles, where the seatbelt in the car, saving numerous lives. there are things the government does better and there are things people in a certain way have to be herded into doing, but this is one of those cases where it has been a tremendous boondoggle for the insurance industry because they went out and stay in power and get the money. the reality is this should be a government situation.
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the bill is paid by the government. if you can't pay something toward it, the government pays all of it. stuart: we always think of you guys as on the left. i don't know if you are on the left or not. >> i am neither left nor right. stuart: but the industry is. >> i am where logic lies. stuart: you know your fellow members in the industry, are they turning around a little bit over obamacare? >> i wish i could answer that with real scholarship but the fact of the matter is anybody with half a brain will understand this is a huge mistake. you have to see it, it is hurting too many people. it is making it too difficult. stuart: are you make your voice known in washington? do you have political connections? >> my opinions are as valuable as the next person, the plumber or electrician living next door to you.
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stuart: one last one, how do you feel a pang have your income in taxes? because you do. >> i believe in a flat tax. i believe 20, 25% everybody pays. and we're done with. charles: with the giant government programs, use of force, 20% will not be able to cut it. if the government will pay everything, five tax would be like 70%. >> i think that is another discussion for when we have more time. stuart: you are going to cc. >> i am an opera singer. charles: in the middle of dinner he stands up about 12 years ago, nathan. i wish i could go to the concert. >> i will give you one note right now. stuart: do it. ♪ stuart: that was pretty good.
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go national. go like a pro. stuart: how is your 401(k) looking? americans net worth u up $1.9 trillion in the last quarter. look at that. check the markets now, only down nine points. general motors naming ceo replace the current chief and will be gm's first ever female ceo. the stock is down a fraction bid no stopping twitter. the stock hitting a new all-time high today. 52 on twitter. pep boys down big. the stock down 6%. different story of its competitor, autozone. another one in the auto industry. profit rising. cold weather helped sales? that stock is up 4%.
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stuart: just happening now, the sec has voted unanimously to impose the volcker rule. fdic has voted unanimously to put in place the volcker rule which would have placed severe restrictions on trading by investment banks and the big banks. by the way, goldman sachs at a new high today in part on that
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news. starbucks and nicole. the stock is down big, but can you tell me why? nicole: i was reading a note from my analyst looks into starbucks and the like, sales are slow, they have had two great quarters, but that's now sales momentum may slow and with that the stoc stock dropped. i am a big fan, gol gold card hr from 2008. i was one of the first ones to actually get that. and you have to earn it, you don't just to get it. stuart: thank you. charles is here to make us money. nicole: hardware stuff, transmissions, the microwave, radio frequency microwave. i don't want to sound too crazy, just picture a word that is
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simple. one of these companies yesterday up in their buyback, the street like that, a string of earnings, almost beat every single time and just one of these performances the stock is making a nice break today. still relatively cheap. stuart: you are such a traditional guy. there will be no tailgating at this year's super bowl at metlife stadium. is that really the super bowl? brian kilmeade is here with more on that. it is not just no tailgating. you cannot walk to the stadium to watch the super bowl. if you take a car service, the car service has to stay there to take you home. what is with all these precautions? >> it is all about security. mass transportation is the way to go. i have been to 17 super bowls, never as a fan, always working there.
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i missed the minnesota super bowl that the cold winter cities who had a dome. metlife is saying it, new england, chicago looking at this with open-air stadiums saying football is meant to be played in the cold, they don't complain about it. people will spend a lot of money to be part of a historic event like a national holiday. i don't have a problem with that. i have a problem with the tailgating. you have to get there early because you don't want to miss a minute of the game plus a lot going on inside, but i think if you have a pickup truck, why can't you put it in the pickup truck? the concern is taking up 2 spots. but you pay a lot of money, you will not be rude about it. throw a badge on them and people will pay attention. i find this unnecessary. stuart: after the boston bombing during the boston marathon, isn't that why you have this
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intense security at the super bowl in new jersey next year? >> i think the most secure super bowl i saw was new orleans after 9/11. they looked at joe montana and said excuse me, i need to see some id. they were not taking any chances. they got a bit of a system going. i don't give a marathon is playing any additional role and i actually don't think if you are a terrorist yo using the super bowl is bigger than an average game because it would ricochet throughout the nfl and all sports if something were to happen. it is an overcompensation but tailgating has become a sport itself, that to me is a huge pr mistake. stuart: lets see if the pressure and the outrage, let's see if it pays off and that rule is repealed. >> nobody could withstand the
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type of pressure you are going to put on the nfl, stuart varney. stuart: thank you very much, indeed. alan grayson outspoken critic of wall street, outspoken critic of anybody else with any money loses millions of dollars on a bad investment. the full story is next, but first, this. megan kelly on jay leno commenting on a living wage. >> understand both sides on that because it is tough to make a living $7.25 per hour. but the other side says if we mandate $10 per hour, there will be fewer jobs and companies will not be hiring. apparently amount of economic data supports it according to the "wall street journal." i like the system when i was in college teaching aerobics, another life and another body. but i used to do telemarketing on the side, that is a job you
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sea, colonel ralph peters on america's global challenges. "lou dobbs tonight" 7:00 eastern. join us. stuart: talk about irony. florida democratic congressman well-known for reigning against the rich and capitalism lost $18 million in an investment scheme that involved more than 100 victims. charles, don't think we got the full story here, what can you add? charles: number one, this is the second scheme like this he was involved in. the first one was the same business auto promised this is a way around paying capital gains taxes. stuart: he rails against it. charles: the guy who rails against capitalism wants to destroy the 1%. they give you a loan, you don't sell it, they give you a loan against the money. you don't pay the taxes. now the other part about it i think people need to look into,
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in 2007 he had over $9 million worth of stocks. it went up 147%. 2007 a cusp at the top, the market crashed. from the january low. not from 2007, what stocks was he holding? do they benefit from his power or government regulations, i want to know what stocks this guy was holding and why they went up so much. stuart: well said, because we don't know the whole story. the shock value as a man like him has $18 million to lose me first place place and getting around capital gains tax. charles: in the same scheme, where is he getting this cash? stuart: we will hear more. your take on your loss of privacy is next. yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate.
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a loss of privacy. when you could go about your business without trying guys looking on water over. here is your take a. sam says it is police use of technology that is killing privacy like blaming the gun for killing someone and mark says technology may have improved our lives in some areas but will never have the same privacy and freedom we once had. thank you for your comments. i tried to say i get the feeling, and anxious feeling that i am always being watched, always being tracked in some ways by cameras or on the internet. charles: i agree with you. the move the minority report as you walked past a billboard that knew you were and shot out an ad designed for your taste. i agree with the judge that we can control who views that information. it is out there but do we have to let the government take it from us?
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stuart: connell mcshane, yours. connell: we are dealing with important topics today, banks turning banks upside-down, the ins and outs of the new rule named after fed chairman paul volcker. double or ruled in effect. another big story today would be the glass ceiling shattered in the auto sector.f general motor and what she may bring to the table. more snow this winter, these cold snaps have an economic impact especially in the heartland. details coming up and the handshake that has managed to make headlines this morning. could this moment between president obama and the leader of cuba lead to something bigger in economic relations between the two countries? we will talk about that and more as we get going on markets now. ♪ good to have you with us o
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