strong position to capture video advertising dollars. [closing bell ringing] david: the closing bells ringing on wall street. it is the first day of trading of 2014. it is not an up day. it's a down day. it could have been works t was worse during various times of the day though close to the day time high. the dow jones down 133 points. all the intoday sees were down at least. david: .8%. look what happened to the russell 2000, small and mid-size caps were hit. cheryl: nothing says january like a snowstorm in the northeast and pot in colorado. number of americans filingirst time jobless claims fell by 2,000, to 339,000. that is the second consecutive drop for jobless claims. david: they're calling for end to media lockups for weekly jobless claims reports. it comes amidst concerns about possible leaks to trade years

u.s. construction spending rose to the highest level in five years in the month of november. the commerce department data showed a surge in private construction offset a drop in taxpayer-funded projects. david: this is big news in the auto front. fiat, $3.5 billion deal to take full control of chrysler which includes the jeep brand. it gave a big boost in european trading. we'll find out who benefited from the auto bailout later in the show. cheryl: martha stewart living on it any media settled long running legal battle with a home products deal with another retailer jcpenney. details were not tis closed but they look forward to a continued partnership. david: as cheryl said at the top of the show, the northeast is bracing for the arrival of a massive winter storm. could dump as much as a foot of snow in areas like boston. the storm already causing chaos in the midwest. "after the bell", 2014, starts

right now. well the first day of trading in the new year is officially over. let's look at today's market action. we have chris recognize letter, needham fund manager. and mash sebastian joining from us the cme. mark, i want to start with you. does this selloff have any legs? >> i actually think it could. we were watching the vix and s&p move together and it was really interesting. anytime you see vix and -- rallying at same time that is always bad sign for the market. now that the ism data is out i don't see a lot of great reasons to jump in ahead of non-farm payrolls. i think we'll be weak tomorrow, maybe monday and tuesday. we'll probably see some bottom feeders start to step in around 1815, somewhere between 1815, 18

and a quarter, after non-farm -@payrolls. that is where i think we could see, that is really what the whole market is watching. now that the fed's begun taper, economic data matters so much more than it did. economic data could already move markets. now it is going to be the type of stuff that does move the market. it is going to be the primary driver, at least through the first quarter because if that economic data is off one way or the other it starts to force the 10-year treasury to move, then we could really see some turmoil in these markets. if things are orderly we might rally. cheryl: that could be good news for somebody like chris, because, chris, you want to see, you're positive but you want to see a bit of a correction in this first quarter of 2014. why and by how much? >> i think it would be healthy for the market to have some correction here. the stocks have been straight up. santa claus rally came in december. nobody wanted to sell.

taxes, you didn't want to sell winners and pay taxes last year. so i think here in january you will see great opportunities in value stocks that have been sold off in december, that were done for tax-loss selling. but i think some high-flyers need to take a pause. if we see that correction, i'm not saying we get it, but it would be nice. i think it will provide for a longer-term bull market. david: mark, before we go too far down the road i want to touch on oil. we saw huge drop today, 3%, close to the $95 a barrel mark. what is going on with oil and where it going from here? >> you know i think it is more about this economic data. the only people sold everything today. they sold equities. they sold oil. the only thing they bought was gold. maybe that hints are people worried about inflation? if that's the case maybe that's where we see some sort of a bottom forming in gold. so i think gold was an inflation economic data driven. maybe it is a precursor to

non-farm payroll that we don't like that much next friday. cheryl: chris, you have some picks. i want to get to a couple of these because you do focus on health care and we say this is the first day or second day officially of obamacare being in full effect. how are you feeling we're into the weeds of obamacare and we're still getting stories of some consumers saying they are not getting what they promiseed? >> across a lot of companies we invest in we'll look at ability to manage their margins. right now they will be faced with higher costs going into the new year. it will put some pressure and which want to invest with the best managers that can work through those issues but it is certainly a headwind to a lot of small companies. we'll see how that works out. but we do have a favorable opinion on companies like gilead and thermofisher. we would be investing still in those names. david: let me jump on thermofisher for a second. they're a medical

equipment-maker. are they going to be hit bit new obama care medical tax? >> they're a global company and very well-run. if this is down market this is the type of company we would be invested in? david: won't obamacare tax take some of their profit out? >> that is pretty much a known entity. i think that is factored into the companies like this. david: gotcha. cheryl: you do focus on technology. we were talking about technology in the last part of the show. an interesting kickoff for the year talking about tech. apple is hit with a downgrade. ibm a big loser for 2013. is it still about data, cloud and mobile? what is the story for tech do you think, chris? >> i think the story for tech is still around software. you have to be added value. pure hardware guys providing switches and server not much value add, they are going to be hurt but we also like names that are equipment suppliers into the technology world. innovation continues. intel is still going to be moving towards newnan know

meters. they need new equipment to make the processes happen. some of the names we're looking at are still pretty good value. david: we talked a little bit about interest rates. i'm interested how you both feel about this but, mark, i want to go to you first. do you think the market is in a position to absorb, i don't think anybody will say interest rates will stay the same or go lower. is this market ready to absorb high interest rates? >> i think it is speed of the move that matters. is the market ready to handle 4% at end of 2014? possibly. is the market ready to handle 4% in march? absolutely not. what really matters is how does the data come together? what does inflation look like. if the fed's hand is forced -- cheryl: think we might have lost sebastian, mark, excuse me. tell me you what, chris, he was saying a very having point there. he was saying the market could not handle 4% by march. there is your correction?

>> it certainly could be. again about the acceleration, how quickly do we get get there if it is orderly process people can prepare. it is unknown and unsuspecting situations that do cause markets to detablize. david: chris, thank you very much. mark, sebastian we got your audio back just in time to say good-bye. after the commercial break we'll go back to mark because there is lot of activity behind him in the cme pits. we'll find out what that is about. cheryl: here we go, live, picture, of cleveland. snow started to fall. a foot of snow expected in large areas of the northeast especially boston of the we have live coverage coming up. david: there is the auto bailout t was supposed to save the american auto industry, it certainly didn't save detroit which is bankrupt. if i kraut is taking control of 100% of chrysler s that the

italian auto bailout? is that what americans paid into? an all-star panel including mr. steve forbes is coming up next. tell us what you think about this. is the purchase of chrysler by fiat good or bad for the auto industry? go to fast book.com/after the bell. your answers later in the hour. ♪ [ male announcer ] what if a small company became big business overnight? ♪ like, really big... th expanded? ♪ or their new product tanked?

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and a free 30-tablet trial. david: well as you might expect energy stocks are sliding today because of oil's steep declines, steepest in more than a year, closing down more than 3% today. let's head back to lauren simonetti on the floor of the stock exchange for details. lauren? >> that definitely didn't help the energy sector. in fact it was the number two worst-performing sector today. look at these stock declines. pioneer natural resources down 4%. range resources down 3%. some of the refiners down sharply as well too. noble energy, hess, marathon oil. big, big selloff today across the board but certainly in the energy sector on the steep decline. steepest one in 14 months for oil price, david. david: thank you, lauren. cheryl: well the s&p futures set to close in just a few moments. let's head back to mark sebastian who he renamed

sebastian for no reason, in the pits of cme. what are you seeing? >> in the last couple minutes before 3:00 we saw a selloff in the futures. after the bell they have been bought back up. we're trading where we were around 3:55 eastern time. again, i think this market is definitely in kind of a watch and see zone. so i'm not, you know, i don't know that we're going to drop, 14, 15 points every day for the next week but one can wait until tuesday or if one is looking to get long before making any type of real decision whether to go long or short into non-farm payroll. cheryl: it was a great year for the s&p. mark, thank you very much. >> thank you. david: well, italian automaker fiat is finally achieving its ultimate goal of own unking 100% of chrysler, paying 3.65 billion up front and additional 700 million over the next four

years but one of the biggest questions will fiat use chrysler profits for its struggling italian brands receiving billions of dollars from the u.s. taxpayer? steve forbes, forbes media chairman and editor-in-chief who had a thing or two to say about bailouts over the years. john, first to you, this is incredible deal for fiat. fiat wanted 100% of it for a while. we just put up a graphic, i think we can put it up for our viewers this is how much u.s. taxpayers paid, $12 billion for chrysler bailout, various forms to either bailout detroit it has been said or bail out u.s. auto companies but look how much fiat paid for chrysler? got 20% for nothing. next 3.5%, 2.2 billion. final payment for 100% stake, 4.35 billion, but they're getting money from chrysler itself which cuts down their

actual payment to 1.7 billion. so they total, they paid for this company, was 3.9 billion. that's about 1/3 of what the taxpayer paid. i mean, this is an amazing deal for fiat. >> and it is actually even less than that when you consider they're paying 4.35 billion to the to the uaw. not to the taxpayers. , what they're paying for the final stake. which, uaw is a fellow bailout recipient. so, yes, we literally gave the obama administration, literally gave chrysler a way to fiat. as the associated press reported today, fiat, chrysler is now fiat's profit center and we're holding detroit workers to chrysler hostage to european economy and fiat's own woes. david: steve forbes, are u.s. taxpayers bailing out an italian car company, fiat? >> yes, and they bailed out as john said the uaw five years

ago, four years ago when this thing happened. this kind of thing is just a part of crony capitalism. an unprofitable company fiat is right now gets to buy a profitable company using that company's own money and u.s. taxpayer is left holding the bag. only in america as they say. david: john, wasn't there supposed to be a wall between chrysler's profits and fiat's losses? >> yes but the wall has been breached. now it will be completely eroded. there is nothing stopping fiat now that it has total control of chrysler from utilizing chrysler's profits to build more plants in italy. or, to, build jeeps in china as mitt romney warned would happen and was derided at time. now it looks like it. yes, there is no wall left. david: sergio marchionne, hold on a second. the head of fiat was vetted and "60 minutes" did a piece on him, saying he was a miracle worker

saying he turned chrysler around. does he deserve any credit for the success of chrysler? >> i think he does deserve a little credit. i think the fact that he realized what was the profit center and doubled down on the jeeps and the big trucks rather than being like, you know, gm with government motors and trying to please the paymasters. yes. the question is, did you need to give chrysler away to fiat to rescue it or could a bankruptcy court decided these are core brand and this is what chrysler should be focused on? now, detroit is tied to italy's woes and fiat's woes. david: steve, i don't want to bash sergio, nevertheless it was kind, it wasn't rocket science to realize you make the most money selling trucks and suvs. that is exactly what chrysler did. those who did that, like ford and chrysler came out very well. >> yes, but if you get another spike in gasoline prices, which is what put the auto industry in

the straits in 2008, they could be against the wall again. but one thing chrysler has, they have loan agreement that is will restrict the amount of money that fiat can lay its hand on. the other thing, chrysler will require huge investments in the next few years if it wants to stay with or ahead of the pack. in the auto industry is one tough industry. highly competitive. so, give sergio the praise but he is going to have to earn it again in the next few years. david: of course, john, one of the ways this bailout was sold to the american tax pay, this is a way to prevent detroit from going bankrupt. guess what? it didn't work. >> yep. detroit went bankrupt last year. likely old saying but you were told if you voted for goldwater that there would be a war in vietnam. david: right. >> he didn't win but there was. so detroit did go bankrupt after all of that. and we're diverting our tax money to, to the eurozone.

david: steve, this comes at a time and of course gm we found out taxpayers are on the hook for $10 billion to gm after they sold that. the insurance companies will not have enough money because the way obamacare is rolling out. there are not as many healthy people joining as the obama administration thought they would be. they might need a bailout. will examples of gm and chrysler do any good avoiding an insurance bailout? >> if it goes through congress, congress will put a stop to it that will be the end to obamacare. if the administration doesn't pay attention to the law, who knows what they will do. try to get the insurance industry through the election cycle in 2013, they might say we need a single payer sim. david: aye yi yi. steve forbes, thank you very much. cheryl, over to you. cheryl: there is a new twist to the bitcoin craze. bitcoin atm. s are about to invade the

market that could make the industry more accessible. the maker of bitcoin atms will join us coming up. they have the most merchandise ever with 3,000 products. we'll tell you how legendary rock band kiss changed the music industry and became the king of branding. ♪ [ me announcer ] this is the story of the dusty basement at 06 35th street the old dining table at 25th and hoffman. .and the little room above the strip mall f roble avenue. ♪th magic mom it is the story of where every great idea begins. and of those o believed they had the poweto do more. dell is honored to be part of some of the world'great storie

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cheryl: time for a quick speed read of some of the day's other headlines, five stories, one minute. first up the eurozone manufacturing sector expanded for the third month in a row in

december. new orders fueled growth climbing to 2 1/2-year high. hackers gained access to users names and phone numbers for 4.6 million snapchat accounts. this comes days after as you straw raan group warned about snapchat's vulnerabilities that could be exploited by hackers. company selling its flagship smartphone with 16 gigabytes of memory, 399.99, off a contract of course. samsung's market value dropping nine bill dollars on first day of trading in 2014. slow profit growth in the mobile division prompted sellers to sell. praying go it willian sauce because of spoilage, distributed arkansas, kansas, missouri, oklahoma, mexico that is the today's "speed read." david: made it with a second to spare.

cheryl: kick off the year right. david: first major snowstorm, set to kick off with a foot 1/2 of snow in some areas. cheryl: meteorologist janice dean joins with us the latest. that voice better get better. >> the first storm and i'm losing my voice. that can't happen. i need to have my voice. it is, it is sound worse than it actually is. let's take a look at it. two storms merging together. one off the southeast coast and then another across the ohio river valley. that is going to give us this coastal storm, this nor'easter with blizzard conditions, from long island, northward to maine. so as you can see, we've still got snow that is moving in towards the northeast. this is not the main event. main event will be this offshore coastal event. d.c., philly, new york as we go through time, starting to fill in by 10 p.m. we'll start to feel the wind as well, 30, 40, 50 miles per hour. by friday afternoon this is out

of here. but we're left with bitter dangerous cold as well as those wind gust that is will continue to go into friday. in the red shaded here, that is our blizzard warnings for much of long island. i'm hearing talk they might shut down the long island expressway. we also have blizzard warnings that extend from coastal massachusetts up towards maine. so it is very dangerous. we'll not hit a huge jackpot of snow but because those wind will be blustery and could last for 12 hours plus, that's the concern. because a lost kids will be excited that they have a snow day but it will be so cold and wind will be so fierce, that the kids do not want to be outside and parents are not going to put them outside. there is the forecast. windchill as we go overnight tonight, below zero windchill from new york northward. we haven't felt this cold in years across the northeast. cheryl, david, back to you. david: just in time for your cold. i don't think that is fair at all. cheryl, excuse me, janice dean. cheryl: our chief meteorologist

is losing her voice. >> i will get it back. david: not a good thing. well the storm already causing big cancellations and delays all over the country. according to flight stat.com so far airlines canceled more than 1900 flights and more than 4200 flights have been delayed. despite the storm the airline stocks actually outperformed major indices, probably because oil went down. delta, jetblue, spirit airlines and all closing in the green. that probably had to do more with oil than the storm. cheryl: that would be good news for them when they have a lot of bad news today. bitcoins are being accepted by some auto dealers and some home sellers or why not get one or several from an atm? we'll talk with a entrepreneur with a bold vision to take the digital currency from your computetory main street. david: fascinating stuff. today a day after the retailers started selling marijuana for recreational use in colorado. we'll go to denver to find out whether the pot economy is booming. as we go to the break, let's

take a live shot of cleveland, ohio. cheryl: poor cleveland. look at the wind. david: yeah -- cheryl: it is going inside ways and circles. david: that is kind of the definition of a blizzard there. ♪ [ male announcer ] this ishe story of the little room

over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus rreli down i-. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began mu the same way ours did in a little dorm room -- 2713. ♪ this magic moment ♪

[ male announcer ] this m hasn accomplished research and analytical group at his disposal. ♪ but even more pressive is how he puts it to wk for his clients. ♪ morning. morning. thanks for meeting so early. oh, it's not a big deal at all. come on in. [ male announcer ] it's how edward jones makes sense of investing. ♪ david: warren buffett's berkshire hathaway could be in for a multidecade record but not the good kind. according to analysts the company is poised to report it

failed failed to increase net worth surpassed the subpoena 500 in 10 years. this would be the first time since 1965. cheryl: bit craze intensifies the demand for atm interest is rising. they have 190 of them in the past month alone. are atm sales indicator of booming business or a bubble waiting to burst? david: a lot of bubbles waiting to burst according to some progno, sir tatetores. -- prognosticators. we have the atm manufacturer. one thing i'm wondering are they legal in the u.s.? >> well thanks for having me. and they're definitely not illegal in the u.s. there will be regulatory requirements but all of our operators are working with their lawyers to figure out all small details of that.

business has been doing well for us, especially the last month. we've sold 90 of our machines, 130 overall, all over the globe. the idea of the machine is very simple. the easiest way to get bit down in the shortest amount of time. all you do with our machine, you walk right up to it, you scan your phone into your machine so it knows which bitcoin to send them to. put in little as one dollar you would have bitcoin or part after bitcoin. cheryl: i'm giving real money to purchase bitcoins. the problem with bitcoins obviously it is not universally accepted. where do you see, you think the u.s. demand for this? will this be international demand? >> well, it's both. most of our machines have been told worldwide. would i say at this point it is about 10, 15% of the our market in the u.s. it is growing. we're getting more inquiries.

bitcoin is definitely big in the u.s. entrepreneurs are doing all sorts of bitcoin related businesses and starting them up. that is something definitely happening in the u.s. a lot of enthusiasts. we have bit couldn't meet upgroup here in manchester, new hampshire since july of 2012. there are huge ones in new york, san francisco. there is definitely a lot of interest for bitcoin as a technology. obviously when the price goes up or down it is very exciting. but that is the not the main point of bitcoin. the technology is really impressive about bitcoin. the price is just, it is a roller coaster and it is fun. david: zach, let's pull back for a second. i have a theory why bitcoin is so popular. basically it's a currency without a central bank. that is, you don't have a group of 12 guys going in a room deciding how much the currency is worth. the market decide how much this currency is worth. a market of millions and millions of people. it is not an elitist kind of currency. is that the way you see it?

>> oh, well definitely of, yes. there are no back-room deals with bitcoin because there is no one to have back-room deals. it's a network of people that just want to use the currency. so it grew from a market cap of 100 million last year at this time to 10 billion this year at this time. and, it is just people who see it as an amazing technology. and a better way of using money. or payment systems. bitcoin is both. it is both a monetary system, and a payment system and a lot more just getting started. cheryl: are you concerned about a bubble in bitcoin? in particular, this isn't your area of expertise, the volatility in bitcoin in particular in the last month of 2013. i mean one day where bitcoin lost $400 in value. that makes people nervous, skiddish. what do you think of that? >> i think it's a matter of people trying to figure out what the price of bitcoin should be. it is still a very young currency and there is not enough

information. it will take time. i expect there to be more bubbles. all bubbles mean people don't know exactly what the price is. some people hink the price should be really high. some people feel that is time to get in. some people feel, wait, something happened and it shouldn't be this high yet. as we move forward with bitcoin. as bitcoin grows, there will be more stability. doesn't seem like it because of a high price, there is more stability in the bitcoin network and less price volatility than a year ago or two years ago. david: you do have competitors who try to do the same thing you do. one of the charges against your machine and your concept you can do deposits but you can't do withdrawals. is that true? >> yes it is true. our machine is cash to bitcoin only. david: why is that? explain why that is? because of the law or because of technical glitches that you haven't worked around yet or what? >> well, we, detected the major demand is still for getting

bitcoin. selling out is helpful. it is good once in a while. something we'll probably work on in the future but when we decided to start designing the machine we wanted to make it very simple and easy and a machine that does one thing and does it right. we started with the most important which for us is so get to bitcoin. there are other issues, would take a lot longer to develop a machine and lot more expensive to do both. so we decided to start off with something very simple. there are regulatory issues that may be, for instance, once the machine dispenses cash, it is no longer a vending machine like ours is. you put in cash and you get bitcoin the same way you could put in cash and get a bottle of coke. but the second a machine dispenses cash it is an official atm and there are different regulatory concerns may be involved with that. cheryl: zach harvey, again the company is lamussu. thank you very much. weep keel eye on it.

david: zach is from new hampshire. the model of new hampshire is live free or die. it is libertarian central. people are getting fed up with central banks. cheryl: i agree. just, you know, i'mous nelly, what can i say? david: after 40 years and and millions of albums sold worldwide, the band kiss is merchandising powerhouse. we'll talk about kiss's huge money machine when we come back. cheryl: talk about rocky mountain high, we'll go to denver, to find out everything you need to know about the marijuana economy. pot can be legally sold for recreational use in colorado. as we go to break, another live picture, this time coming from massachusetts. here is is seven degrees. the temperature real feel, negative 8 in woburn, massachusetts. ♪

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cheryl: the band kiss was finally indubbed into the rock and roll hall of fame last month. it is thought the legendary rockers were passed over for years because they were considered too commercial. david: now the music industry looks at them as a model in a world where profit from album sales continue to decline. with us, lee hawkins "the wall street journall celebrity business reporter. before they were considered crass, now that the music industry is struggling they have the right formula because they're in the hall of fame! >> the way it works the record companies get a 360 deal. you sign the deal, they not only get what you make, a portion of what you make from your album sales but all of ancillary revenues. that includes movie appearances, corporate endorsements. david: concerts? >> concerts, all of those things. kiss down do that because they were the first people that came out and did their own merchandising. and so now they built up as big

after brand as they need. they don't have to work with record companies. cheryl: a lot of bands, especially bands from the 70's like kiss, made the mistake, so happy to get albums published they would sign on for crazy deals and record companies would get everything. that did not happen to them. >> they got a portion. got a standard deal when they started out. they found innovative ways to diversify. the smartest thing in the beginning, they wanted to be the beatles. they looked at rolling stones, they looked at battles. they looked at the model where every group member had individual identity but collectively you could like the band. people like the band kiss but might like gene simmons more than paul stanley. so they buy a gene simmons lunch box or doll. cheryl: or an urn. we were showing our viewers all the different merchandising. casket and urns. >> they have done over $500 million in licensing. david: wow. gene simmons i know. he has been on several times.

he is a libertarian. he loves the free market, unlike a lot of rock stars like bruce springsteen who seems to feel guilty. gene simmons has no guilt in him at all. he loves making money. i assume the other guys are the same. >> they are. they are entrepreneurs through the core. they see business and music as inextricably tied. one thing to love making music. you can love to make music and make it in your basement if you want to be in the music business to capitalize. david: we have a sound bite from paul stanley. he works with gene simmons. >> that is watt interview i did. let's check it out. >> music and business go hand in hand because if they don't, somebody else will be making your money for you. so, i don't think that it negates or takes away from the commitment or love that i have for music. david: so it is not crass to make money? >> it's not. what was unfair they should have been in the rock and roll hall of fame 16 years ago but there

was some backlash from some of the music critics that felt like mythology and rock star caricature should be they don't make money. that they're not capitalizing. cheryl: eagles touring once again. all they're doing is making money. rolling stones. >> you see these guys in the ripped up jeans and. shirts, that is their uniform. but they're getting on a private jet after that show. they're not you or me. they are multi, multimillionaires. david: i'm wondering how many others can do that? not all the rock musicians have easily merchandisable personas. these twice have makeup and guitars. a folk star couldn't do this. >> they have to glam it up or figure out a way to do it like lady gaga has. the super band concept is really one of the past, i think. it will be very difficult for these band to build what kiss built because they were so brilliant about how they built their brands. david: people actually buy these coffins?

do people buy a kiss coffin? >> of course they do. they have stake in arena football team. this is really what band have to do if they want to make money. cheryl: what is their most successful product? >> i would probably say touring. cheryl: still? >> that is part of their business, they put out records. they're still, well, that is licensing stuff but really at end of the day, every summer you will see them on the road with motley crew or whoever, thanked they will be raking in from being on arena circuit. i think they get tired if they stop. cheryl: lee hawkins, you and i should follow def leppard next year. >> let's do that. david: only kiss would come out with a coffin to merchandise their material or brand. that's something. lee, great to see you. always good stuff. thank you very much. well the business of recreational marijuana just got a huge boost from colorado. will the sale of legal pot give business owners and tax collectors reasons to celebrate? we go to denver to find out. >> forget about supervise me.

how about spending a whole year eating and drinking nothing but starbucks products? we have a story every caffeine addict will want to hear. as we go "off the desk." another one. albany, new york, is currently 2 degrees. look at that. david: whoa. cheryl: the storm is here. ♪ so ally bank really has no hidden fees on savings accounts? that's right, no hidd fees. it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally.

cheryl: want to take you back to this live picture. this is cleveland ohio. we were showing awe live shot two minutes ago. i said that was albany, new york. that was live shot from lake erie. that was waterspouting up from the lake. blizzard conditions hitting cleveland, ohio. here in new york, governor cuomo issuing a state of emergency. we'll have flight delays and cancellations, more to come throughout the northeast. david: sometimes the great lakes can look like an ocean it is so wild. it's a wild day over the northeast. going over west aye r ohio. business of pot is booming west of colorado. it is legal to have an ounce of marijuana for recreational use and retailers are reporting

brisk sales. cheryl: adam shapiro is live from denver, colorado, with more. adam. >> the second day of ability to buy recreation -- marijuana for recreational use is seeing no letup in demand. at medicine man in denver this is like this all day long. people come from all walks of life. i've seen grandparents, college students and all races and socioeconomic classes. one guy looked like he came out after bank lobby. you see people who might have done the goth thing in high school. bottom line this is like the new beer. people here want to enjoy this. you have two businesses. you have recreational side which is taxed heavily. the city, state, tax on marijuana in denver is 37 plus percent. the medicinal side, the medical marijuana side, medical marijuana tax is 7.7%. you used to see crowds with the

tax but don't see it for medical side. they have people boeing in for medical marijuana because of their ill health. david: adam shapiro, looks so strange to see that on the wall. different varieties. cheryl: also difference between the state law and the federal law. those are different laws so. anyway, thanks. david: thanks. cheryl: one armed robber caught on camera walking off with a massive vault. its weight will shock you as we go "off the desk." david: we asked you on facebook if you think the purchase of chrysler by fiat is good or bass for the u.s. auto industry. some of your comments are streaming in right now, screaming mad. we'll read them, before the end of the hour. ♪ [ me announcer ] this is the story of the dusty basement at 06 35th street the old dining table at 2h and hoffman. ...and the little room above the strip mall f roble avenue.

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david: time to go "off the desk," folks. no matter how often you go to starbucks chances are this woman has you beat. a seattle woman named beautiful existence, spent up to $600 a month on her meals at starbucks for the whole of 2013 and blogged about what it was like to eat breakfast, lunch and dinner at the coffee chain. her established rule could eat anything sold in starbucks or from a starbucks inspired store or brand such as taso that's and evolution fresh. when asked why she was doing this, beautiful responded by saying, she loves the privilege of being able to ask the question, why in the first place.

ah-ha. okay. cheryl: also, "off the desk," massachusetts police are hunting for a strong-armed thief who carry ad 250-pound safe out after restaurant. david: wow. cheryl: surveillance tape shows the man enter a side door at rear of the restaurant, heading down a stairway coming back up, carrying a large object wrapped in a trash bag. no arrests have been made but the restaurant owner is offering a 2500-dollar reward for the arrest. since then the owner bought a heavier space and bolted it to the concrete floor. david: didn't like like 250-pound. i don't think he will get anytime off because of that. asked you on facebook and twitter if the purchase of chrysler by fiat is a good or bad thing for the auto industry in the united states. eric on facebook wrote in to say, it's a good thing. chrysler would be bankrupt and dead otherwise. this isn't a government takeover. it is free-market capitalism with a lot of taxpayer money thrown in.% cheryl: jerry on facebook said i

am not a fan because fiat doesn't have the greatest track report themselves. david: keith, said, this is the end of chrysler. cheryl: i don't know about that. robert says iffy yacht doesn't improve dependability since the 1970s they will hurt the image of chrysler. wow. yikes. david: top three things to watch tomorrow. number three will be impact we'll see from the first major snowstorm of the year. it is currently making its way from the midwest to parts of the northeast. as much as foot of snow are forecasted to accumulate in parts of new england and new york city as well. temperatures, they're expected to plunge to single digits. will feel like negative territory. more than 2,000 flights already have been canceled. cheryl: the number two thing to watch will be december auto sales. economists are expecting the annual rate of total vehicle sales to drop to 16 million from november's reading of 16.4 million. auto sales jumped 9% in november from one year ago. david: and i know you're going to hate this, folks, we said it

so often, yes, the fed is speaking again. number one thing to watch tomorrow. speeches from key federal reserve officials at the american economic association gathering in philadelphia. you know that always moves the market one way or another. philly fed president charles plosser and fed governor jeremy stein are going to discuss transitioning from a low interest rate environment to a higher interest rate environment and banks and fixed income investors. federal reserve chairman ben bernanke, the top dog, he will be discussing changes the fed has made during his tenure. sort of a last call for him. he will take questions from the audience. that should be kind of interesting. cheryl: that will be interesting. the first trading day of 2014. it is a massive snowstorm hitting the east coast. we'll take one more look if we can at cleveland, ohio. this is wjw. this is a live picture coming in from that affiliate. we're looking again. you can see wind. at least cars are still on the road. we already have a state of emergency eclared right here in new york. massachusetts, new york, parts

of d.c. midwest got it. here it comes towards new york city. david: seeing that sign, concord, boston that is woburn, outside of boston. near winchester. cold place to be now. >> you know it's a scary time when france is more pro-business than the u.s. why is that government talking about more incentives and less regulation? new york city's new mayor is declaring a war on money. don't move. we've bottom the details right now because even when they say it's a not, it is always about money. melissa: if you just got over your new year's hangover this might make you a little queasy. france is suddenly