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tv   After the Bell  FOX Business  January 10, 2014 4:00pm-5:01pm EST

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533%. i don't know records by heart but that seems to be a wild one. [closing bell ringing] liz: we close the books on the week. bells are ringing on wall street. look how stocks are finishing up. we have the dow jones industrials down. look at nasdaq, just under half a percent here. we see gains for the nasdaq, s&p and russell 2000. "after the bell" starts right now. david: we have an all-star panel ready to break down the action this week. paul dietrich, fairfax markets ceo and chief investment officer who says there is one industry poised for big gains in 2014. he will tell us what it is. jason rotman, lido managing partner. he says it may be time to look for international opportunities. phil strieble in the pits of cme and my buddy sandra smith.
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i want to start with you. talk about interest rates. liz said yield on 10-year was down significantly today. down double digits. is that why the market didn't have a big selloff on the job news? >> big flight to treasurys. rallying from the short to the long end of yield curve. the ten year dropping below 12.9%. fell 11 basis points on the session. the for the week the 10-year losing 14.5 basis points. that was the biggest decline in the yield of 10-year dating back to september. a significant move here, guys. if you look at five-year, it felt 12 basis points. 30-year lost seven 1/2. steepening of the yield curve, guys. by the way this wasn't all jobs report. credit agricole put out a note reacting to significant rally in treasurys. this is technical unwinding of the trade in treasurys of late. something i guess to take note
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of as we see the treasurys really rally and yields across the board coming down. back to you guys. liz: see, that is the thing. we look what is going on with the markets here. i have a to ask paul dietrich, is this some kind of signal? we had two people, who said toss this, not told you so. they don't like the number. they don't think it is real. where do you stand on it as far as investing in the markets is concerned? >> only sensible way to look at unemployment numbers and look at the long-term trends, not just simply one month. we know this data is wrong. we know it will be significantly revised next month. just as we significantly revised the november figures today. so, what are we talking about here if let's wait until next month when we get the real numbers. david: at the same time, jason, some people look whether the current number is real or overblown. do you think the market is
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overvalued at all, jason? >> i do. seems like yesterday we were at 1500. now we're 330 points higher 12 months later. i'm not saying we shouldn't be up here. things are going well for the u.s. gdp is growing. jobs growth is growing. last month's revision is plus 40,000. things are going good. 1830 is little rich. i could see a 3% correction. i'm still a bull overall. i think we'll come down from here. liz: phil streible, how do you not believe in this market? i'm not a cheerleader. we were down 140 points, red on the screen, very bad number. labor participation was really terrible. the dow ends down, we pretty much settled seven measely points? trying to come back there. it was not a bad day. gold jumping seven dollars. what do the traders seize upon here? >> it is really funny if you're
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a stock trader you're saying what bad number? 74,000? just one number out there. you have to look at a whole series of data. people don't believe it. they will wait until the end of the month. wait for the fed, 28th, 29th. they will continue the taper process regardless of number. economy will improve. probably see the stock market continue to rally upwards. what they were looking at is the goldmarkket. a lot of people are concerned that interest rates, they got a little too high. they will probably come back down a touch. there will be some kind of a trading action. liz: but silver, as far as percentages doubled that. silver had a great day today. >> silver is a place you really want to be if you gold in gold or silver, silver is where it's at. they have so many more uses. they have the medical side where gold lacks. they also, you have half a dozen electronic equipment around you comprised mainly of silver. i have a nice silver watch on right now, you know?
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silver is where it is at for the future when looking at metals. it is sub20. i think it's a goodgood value. david: paul dietrich, people are looking for pullbacks. i only have to look at oil if you want to see a pullback. you have energy picks in petroleum products. i wonder if you think the oil market pulled back too far. >> i think oil will go down even more. energy department said first time in history the u.s. is going to produce more oil than russia or the saudi arabia. david: so why are you going into the oil companies, phillips 66, marathon and even western refining? >> because they're refiners. they are not oil producers. david: gotcha. >> because of the epa and because we haven't built a refinery in the 30 years in the united states and they have kind of a monopoly and can charge anything they want for those prices. as oil production prices are going down, their margins are just going to get bigger and bigger. i predict that is going to be
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one of the, the best performing stocks over this year. people forget that it is illegal to export crude oil from the united states. david: for now. >> for now. but not this year. congress is not going to do anything in an election year. liz: from crude to copper, jason actually likes copper names, sandra. talk about copper's behavior and what it is really telling us. >> we saw copper would rally the other direction when we got dismal jobs report, considering so closely tied to the economy, liz. what is happening here, there is a perception and i will leave it at just that. when we get these dismal jobs numbers, that perhaps the fed won't be tapering as aggressively once thought. that potentially could lead to a weaker dollar scenario. and a higher commodities situation. so normally would see the commodities markets sell off on such a jobs report. not the case today, with rally across the board. david: copper, copper, jason likes it too.
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who produce as lot of copper by chile, country of chile. ech if you want to bet on chile which is largely copper is a way to go. but i have a caveat here. chile elect ad new president. she wants to spend a lot of money, nationalize a lot of industries in chile, raise taxes, isn't that a concern for that bet? >> one would think so but chile has serious track record of extreme growth versus latin american pierce. i see that -- peers. chile produces so much the world needs. chile trade balance is incredible. chile has incredible exports the world uses. such as china. china's copper imports increased 30% year-over-year. all this talk of a china slowdown it is not happening. i would rather keep the copper bracelet and let chicago guy have silver watch any day
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because copper is valuable. if the global housing market keeps heating up which i think it will, i think we'll see copper have a heck of a year. liz: phil, what happens on monday when the markets open? do they completely forget the number? it will be upwardly revised at certain point and what will be the focus? >> i think we'll have a significant barrier at 1850. think about it. we started 2013 at about the 1500. we're almost at 1850 now. i don't think we'll get close to 1900 anytime soon. i think we will see before the next fed potential taper, i don't think we'll see a big run-up into a taper. i think we're at, short to medium term high levels at this point. david: all right. if you want to find jason, look for the guy with the green wrist because of wearing copper bracelets. guys, thank you very much. sandy, wonderful to see you as well. paul deet strict. jason rotman. sandy smith. scott bauer we'll check back with you when s&p futures close. liz: phil streible, isn't it?
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david: phil streible, yes. liz: okay. there is not much washington agrees on these days when it comes to health care but both political parties agree on one thing, cleveland clinic does it right. the ceo, dr. toby cosgrove, telling us how his model can help heel our health care system. he articulates that coming up. david: today's jobs report coming in way below expectations. they were expecting 200,000. only got 74. how did economists get it so wrong? we'll dive into the numbers to see what cause as surprising slowdown in jobs growth. liz: we want to hear from you. is the big market rally weave seen over the past year, real? a real reflection of what is going on in the economy? does it even matter if the market's up, the market's up. log on to facebook.com/afterthebell. we'll read your answers. that iser this hour.
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return on investment isn't the only return i'm looking foard to. and my parachute definitely isn't golden. [ male announcer ] for some, every dollar is earned with sweat, sacrifice, courage, which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. start investing with as little as $50. david: despite a big miss on the jobs number, a handful of consumer related stocks are hitting new record highs. let's head back to nicole petallides on floor of the new york stock exchange for details. nicole? >> i'm talking media, autos, retail. there are areas that really shined today on wall street despite the fact you saw the dow was down eight points. a terrible jobs report. there were some names that hit new record highs including
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underarm more. a -- underarmour. lot of sports apparel. directv group. different sectors, different areas, we had a wild week on wall street. many names hit record highs but these are just a few. add google to the list, right? that's a good one. visa, goldman sachs hit a high. we've had a busy week on wall street. back to you. david: look forward to that next week. nicole, thank you very much. liz: s&p futures are closing in just about a minute. let's head back to phil streible in the pits of cme. high, phil. >> hey, how isis it going? equity prices next week will focus on treasurys. we have treasury markets coming out monday. and treasury budget. watch the treasurys, get action on s&p as a result. liz: that is the question though. i think people will wonder what exactly happens on monday, phil. you just basically a ticker lated that a few seconds ago, but equities will they really
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roar ahead when you see the action in the pits? >> i really think so. i think there is no question about it. look, we had the jobs report. 74,000 in equities can't break on that? that is crazy. you can't break on it. so i mean, people are going to pare off some their position. they will look at safety plays, maybe gold, silver. treasurys. a lot of people missed move going up. they will pile in on the any dips so i think equities march forward. >> phil, thank you very much. as phil just said the u.s. economy added just 74,000 jobs in december. this is the fewest number in three years. millions of americans of course have given up looking for work. the labor force participation rate tumbled below 63% in december to the lowest level in nearly 36 years. is this a sign the economy is losing some momentum or should
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investors do what they did today, ignore the jobs report? joining me nariman behravesh, ihs chief economist. nariman, it looked like the marketinged it and shrugged today. why? >> i think they are right to ignore the number. it's a fluke. all the data on economy shows there is strength. data on employment situation shows strength. unemployment claims are coming down. adp private sector job creation was very high number. that is not a guesstimate. that is a hard number. i would say this was a fluke. there are some troubling trends as you're pointing to in terms of that participation rate b very low, 2013 six-year lows. it is not -- 36 year lows. i would not be suggesting sugget the recovery deraid again. david: the market seems to agree with you, nariman, so you're on good footing. let me focus on one thing. small and medium businesses,
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start ups are having a lot of trouble. the cost of doing business is increasing taxation, regulation and of course we know obamacare. isn't that a concern of that area which is a good area for people to start a business, particularly younger people having a terrible tile finding a job, isn't that a concern to you? >> oh, absolutely. i think it's a big concern. we have, in the last few years, raised the costs of doing business for especially for small businesses. so it's a concern. i think, you know, the one of the challenges going forward either for this administration or the next administration is to reduce that regulatory burden, the tax burden, if you will, for small businesses. make it easier for the dynamic part of the u.s. economy to shine again. david: we can't not talk about the fed, the market is so focused on the fed. will this do anything to affect the fed tapering that began at the first of the year? >> as you know there is going to be a meeting at the end of this
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month. unless things look bad between now and end of the month, more data pointing to weakness, i doubt very much that they will slow down that process of tapering. they will continue, and sort of stay the course in terms of tapering. but, that said, if the numbers look weak, the next set of numbers look weak, they will slow it down. david: a lot of people are saying janet yellen was kind of more interested in a weakish report because it would give her more flexibility if she wanted to cut it from 10 to say 5 billion. you don't buy into that? you think she is on with what bernanke started? >> i think so. especially given that this number does look like it is a bit of an outlyer. it doesn't correspond to all other stuff going on in the economy. mind you, if we get more data that suggests weakness, that definitely will slow it down. >> let me talk about something that is bothering a lot of folks, with is this disconnect between wall street and main street.
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we talk about it a lot. on wednesday evening we had news you heard here first on fox business that macy's would lay off 2500 employees. immediately after-hours the stock zooms up. next day, it is down a little today but next day it is up 8%. that disconnect between what is good for wall street is not necessarily good for main street. it is bothersome o a lot of people. when will they align more? >> i think to some extent they're already starting to align a little bit in the sense we are, despite today's numbers, the trend in job market are improving. they're not where we want them to be. they are improving. a lot of people are starting to benefit from the stock market rises. those who own stock and homes, which are most people are starting to see value of homes go up. incomes are starting to grow. that disconnect is getting a little less bad, a little best narrower, if you will, a little less problematic. so we'll start to see main street catching up with
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wall street. to some extent we already have but we'll see more of that in the year to come. david: if you can stay as optimistic as this guy in the cold weather he is stuck in up in boston you're doing pretty well. nariman, thanks for coming in. nariman behravesh, ihs chief economist. the guy is right more often than he is wrong, a lot more. liz: one. best. everything is bigger in texas, right? that includes the lone star state's job machine. we go live to dallas to find out what other states can learn from texas on this somewhat disappointing jobs day. david: when it cops to big china, they have actually overtaken the u.s. in one very closely-watched economic measure. as it tries to close the gdp gap with the u.s. details when we come back. ♪ [ male announcer ] this is the sry of the little room
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liz: time for a quick speed read, five stories one minute. first up, china over takes the u.s. as world's largest goods trader. the total value of china's imports and exports in 2013 was 4.16 trillion. thatthat is a 7.6% increase froa year earlier. mercedes-benz posting record sales last year boosted by rising demand in china and the u.s. german luxury carmaker sales rose 7.1% to 1.6 million vehicles worldwide. fiat planning to focus on revamping the alfa romeo brand
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after the deal to take complete control of chrysler. the ceo says they will keep alfa romeo production in italy. fits and pacific changing the name to kate spade and company and getting a new ceo. the chairman and ceo william mccomb leaving the firm after seven years and be replaced by kate spade ceo. they will lure more customers to driving slower in winter months. the company dropping prices for uber-x service by between two and 30%. that is today's "speed read." [buzzer] david: ever driven a alfa romeo. driving it around rome, the only way. after today's disappointing jobs report we thought it was a good time to tell you about one state surpassing all others when it comes to job creation? liz: fox news's casey stiegel joining us from dallas with more the casey. >> guys, texas is clearly doing something right when it comes to the economy. talk to an awful lot of
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economists tell you that. we had a chance to sit down with the president and ceo of federal reserve bank here in dallas, who says, less government regulation, lower corporate taxes, no state income tax, accessibility to mexico and reasonable cost of living are all selling points that make the business climate here so enticing. according to the bureau of labor statistics, listen to this, texas created 274,000 new jobs from november 2012 to november 2013. almost 50,000 more than california, a state with much higher population and the largest sectors of growth, listen. >> trade and transportation. business and financial services. leisure and hospitality. they far outweigh the number of jobs created in the energy sector. >> unemployment national average is 6.% according to numbers out today because fewer people are seeking work we know but here in
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the lonestar state, unemployment it is at 6.1% compared to california's 8.3. dozens and dozens of companies can be thanked for success in texas like motorola, for example. it opened a brand new plant in fort worth, you may remember last year where they're building the moto x, the first smartphone ever to be assembled entirely in the united states. it added more than 2,000 new jobs here. >> it is in a free trade zone. we can bring product outside u.s. it is close to the mexican border. we do repair operations in mexico. it is close to carrier customers so we can get product quickly to them from our fort worth facility. >> motorola one example of many companies now starting to set up shop here in texas, guys. david: casey stiegel, never stops, the texas juggernaut. thank you very much. liz: so in the last presidential campaign there was no debating one point and that is that the cleveland clinic is the ultimate
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example of health care success. the question is, how do we replicate it? the cleveland clinic's ceo, dr. toby cosgrove, has some ideas for shaking up our health care system. he joins us live next. david: great guy he is. don't want to miss that. retailer target revealing tens of millions of more people were impacted by a data breach than originally thought. details straight ahead. ♪ ♪ [ male announcer ] this m has an accomplished research and analytical group at his disposal. ♪ but en more pressive is how he puts it to work for his clients. ♪ morning. morning. thanks for meeting so early. oh, it's not a big deal at all. come on in.
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of the dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and theittle room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o believed they had the power to do more. dell is honored to be part of some of the world'great stors. that began much the same w ours did. in a little dorm room -- 2713.
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♪ this magic moment ♪ david: target revealing today that the number of customers affected by the data breach at its stores is much larger than originally thought. the company said on december 19th said 40 million customers had credit and debit card information revealed. now it has revealed an additional 70 million people were hit by those breach. those 70 million had names, addresses, phone numbers, emails all compromised. the stock closed down 1%. not only did target have bad news about the breach but cut its fourth quarter earnings forecasts. now expects sales to decline by 2.5%. liz: i don't know how that is. you go in there for one thing and come out with 30. right? as we all know there are very few things politicians, especially when they're opposite
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sides of the aisle agree on in washington however one thing both side found common ground upon and that is the cleveland clinic. >> so at cleveland clinic, one of the best health care systems in the world, they actually provide gait care cheaper than average and the reason they do is because they do some smart things. >> free people and free enterprises trying to find ways to do things better are able to be more effective than bringing down costs as government with ever be. your example of the cleveland clinic is my case in point along with several others i could describe. liz: now cleveland clinic is sharing the practice model, offering a prescription for the entire health care system. joining us toby cosgrove, cleveland clinic ceo, president and heart surgeon and author of the book, the cleveland way. i've been waiting for this book to come out so long. you guys know you figured it
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out. you put doctors on a salary, sus some type of incentive where they order more tests they get paid more. this seems to work because it not only keeps costs down but improves health care. why are we not seeing replicated throughout the united states and can it be? >> liz, i think it can be. i think we're starting to see more and more hospitals and physicians look more like the cleveland clinic. we have 68% of doctors employed by hospitals and 60% of the hospitals come into systems. the country is coming more and more in that direction. liz: you talk about one thing, fixing it. the affordable care act is under fire. the rollout of the website was nothing short of a disaster. but people are wondering will i get health care. do even want to be doctors
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anymore? what is happening to our system? you come up with ideas really what makes the right mix or meds. talk about some of these. we can put them up on the screen. begin with digitizing of health care. isn't everybody required to do this now? >> increasingly across the country we have electronic medical records which has two major advantages. first of all it allows the patient to actually participate and see their medical record. if you understand what is going on, you're better apt to participate in it. the second thing is it does, gives us a lot of data we begin to analyze. for example, companies like explor-is, an off shoot of the cleveland clinic, has 40 million patient charts identified so they can analyze all the data td what's going on a macrosystem much better than we ever could in the past. liz: i'm not against that but i begin to wonder is anybody looking at patients or are they
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looking at computer screens? >> no, i'm pleased you asked that question because one of the things we recognized we become such technicians along the way we had to begin to emphasize the patient and interaction with the patient. so we have done a number of things. first of all we realize it's a team. we called everybody on the team, whether they're housekeeper or delivering food or neurosurgeon, they're all caregivers and all participating. and we have also begun off-lined it b's aut in the end we're really doing sick care. we wait until people are sick. >> right. liz: the affordable care act wanted to catch it way it before it comes to that and shift to it healke chronic problems like diabetes before they become so expensive. how do you do that? >> we can do a thinking. for example, obesity is 10%r he. it is driving up the incidence of diabetes like crazy. so we have got to teach people about maintaining their weight. by proper eating and exercise
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and we've got to bring together a consortium of people across the country, whether it is educators or physicians or government or food industry to have these discussions about how we're going to deal with this epidemic. if we don't we'll not live as long as our parents did. liz: it was cleveland clinic that banned mcdonald's from the site. that got a lot of attention. some of it negative. but you know what? people stand by that. mike milken was on the program. he is a big thinker so many ways. >> yes. liz: obesity he said is one of the number one threats to our entire nation not just the health care issue. let's move it to consolidation. that is a big wall street word. what does it mean when it comes to health care? >> we're seeing health care in the past has been a cottage industry. individual physicians and everybody had their community hospitals. we now recognize that health care is so complicated you can't have all hospitals be all things to all people. so we're seeing hospitals come together and systems and things
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become more and more sophisticated, systems are starting to talk to systems. for example, we now have invested very heavily in a big data center to keep track of all the data. why should every other health care system have to do that? we could share our data center with them. that's what we're doing, driving efficiency because of size and scale. liz: finally the patient experience. this touches back upon what you were talking about. >> right. liz: figure out how to just sit and listen to a patient. >> we realize that quality in a month is really three things. it is clinical outcome. it is the physical experience, and it's the emotional experience. and so we have really concentrated on both physical experience and emotional experience. just one sort of simple thing that we did, i'm sure you put on hospital gown. there are humiliating to put one of those on. we got diane von furstenberg to develop a wrap for us so you're now completely covered. >> love it. >> simple things you do
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physically. the emotional aspect, teaching physicians and everybody in the hospital how to communicate with patient, and spend time with them and it makes a huge difference. liz: before we go i want to clarify one thing because it was a big headline that some people perceived you were laying off people at the chief clanked clinic due to obamacare. you care to clear the air there? i understood it from you that wasn't exactly the case. >> it is not the case at all. we know we have to have a more efficient health care delivery system. we have to take about $330 million out of our cost this is year. so we offered early retirement to 2 individuals and about 700 people took it. it wasn't because of obamacare. it was because of the change in health care and our recognition we have to become increasingly fish into deliver great health care. liz: well the smartest people go to the cleveland clinic. doctor, thank you so much. >> thank you, liz. liz: dr. toby cosgrove. much david, he gives the recipe. i wish everybody would take it
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and make it. david: he is america's doctor. like giuliani was america's mayor, he is america's doctor. i love toby. facebook shutting down one of the most controversial features that got the social network in a legal fight. new mortgage rules are kicking in and could make it harder, definitely more expensive for you to get a loan. we'll tell you why coming next. congressional leaders, first time, more than half of the 534 current members the house and senate are millionaires. as we go to break, look at median net worth for our nation's well-fixed lawmakers. ♪
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liz: facebook backing down, announcing it will shut down its controversial sponsored stories ad feature starting april 9th. the program which was launched
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back in 2011 created sort of a social endorsement for advertisements many said was a violation of privacy. the company was hit with a class-action lawsuit after the features wascebook they don't seem to be concerned with the reversal. the stock has done well past couple weeks, ending in the green once again today up 1.25%. it is up 51% since facebook went public in 2012. david: new mortgage rules are set to go into effect today and that could take a big toll on the housing industry. liz: the change could make it harder for buyers like you to get a mortgage. rich edson live in washington with the story. it is already difficult. >> obama administration says it makes the housing market safer. they argue if it had been in effect a decade ago the market would have avoid ad crash. if lenders don't meet standards they fail to qualify for legal protections in mortgages fail. they limit thefies to 3% of the loan amount.
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borrowers have to prove they make enough money to pay the mortgage. there are limits how much debt they could have. the longest term is a 30-year mortgage. one analyst says new rules coupled with other regulations and rising interest rates will slow the housing market. >> we have tipped the scale so in favor of safe mortgages that people who should get credit can't get credit, and qm contributes to that. >> the administration says more than nine of every teen new mortgages comply with the standards. officials say that means the industry should have little trouble adjusting to regulations. lenders can still writedowns that fail to comply with standards and they lose legal protections and fannie and freddie might not buy them. back to you. david: rich edison in the beltway. thank you very much. liz: have you realized you forgot your wallet a little too late? that may no longer be a problem. there is a new machine that could revolutionize the way you
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pay. no more grabbing your wallet in your pocket and you saying omg, what did i do with it? that is "off the desk." david: one soup chain looks at the consumer's appetite with plans to expand all over the country. don't worry, it is not run by this guy. >> you want bread? >> yes please. >> $3! [laughing] >> what? >> no soup for you! [ male announcer ] this is the story of the little room over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barli down i-95. ♪ 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 much the same way ours did in a little dorm room -- 2713. ♪ is magic moment ♪
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david: well we're thawing out in the northeast from the record breaking cold spell but the freezing weather was a great selling point for our next guest whose warm soup is perfect antidote with the cold sniffles. liz: z. op with a z, has 30 locations set to open this year. what led a one-time lawyer to create his budding fast casual soup chain? joining us is that guy, zoup ceo, eric ursher. i could use some right now you have an amazing menu. what is happening right now? are you amazed, totally expected what is has become a very fast-growing opportunity? >> we've been at it for a long time. we opened our first store in
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september of 1998. we celebrated our 15-year anniversary. so growth has been very good. we're pleased with how things come along but we've been very deliberate about the growth. too many early success fran sighs oars grew too quickly an opened up in far-flung locations and didn't have the support or distribution to help the franchisees. we knew early on we didn't want to make that mistake. we've been very deliberate and disciplined about the growth. david: 15 years doesn't sound like a long time to develop 50 stores. i'm wondering in that time whether it becomes easier or more difficult because you continue to open new stores to do business? a lot of people complain it has become harder. what do you think? >> well, you know, i think that there is more complexity than there ever has been but for me personally, you know, it used to be a one-man shop and then a three-man shop. now we have infrastructure and we have specialists that help us to support the franchisees and
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make sure that we are operating to "the soup" brand standards which have always been at core of everything we've done. -- zoup. liz: i love the menu items. with you talk about flavors you don't have the just the usual chicken noodle. you have the lobster big. roadhouse chile with sirloin. spicy crab and rice. ginger butter nut and squash. ginger pot pie is a soon? >> it is one of our best-selling soup. people are interested in more things culinary than ever before. having hundreds of soups, serving 12 a day, they rotate every day, gives people opportunity to try different ingredients, varieties they might not otherwise try. david: why not in new york? you're not in new york city as far as i know unless you opened a new one that i don't knee about it. >> i don't know if you're aware of it, rent is very expensive.
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david: unfortunately, we are. >> maybe one day we'll be in a new york. it's a different economic model in new york but with the right franchisee -- david: let me throw out at you. applebee's which is your demo, kind of the middle of the road demo in terms of financial position. they are doing extremely well. they have over 30 stores in manhattan, they found that niche. couldn't you do the same? >> we very well could. you know, god knows we got the high density of white-collar population that drives our business but it is just unknown to us. we have deliberately expanded in the northern half of the united states. when we first started growing our first franchise was in michigan. then ohio, midwest, east, now f of the united states and ontario. we've been always deliberate about our growth. we want to be able to open stores in an environment and demographic and climate that we're familiar with. these are franchisees. they come to us because we have systems and expertise. so going into new york does create some complexity.
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liz: well, this cold weather across the upper half of the united states, how has that, i would imagine postively affected your business? >> it has been great. we love the, we love the winter. we love the fall. people start thinking of soup. it's a great season for us. so we're thrilled. liz: how often do you check the weather channel? >> well, you know, it is funny because when we first, when i first started the company i used to check the weather channel every sing compel morning but it wasn't to see what sales, how good they would be to turn out at end of the week, but to see if we would make payroll. it is a lot different now. i'm glad those days are behind us. david: eric, i have a ground floor studio apartment i was young many years ago on west 73rd street. you and i should talk. you and i should talk. great maintenance on that. i think that is your location. okay. >> okay. david: all right. >> we'll talk about. maybe, maybe you could be the
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next franchisee? david: who knows. who knows. there is live life after television. but i'm not leaving no worries. liz: eric, with we'll cover that for you. thank you so much. >> meantime go to grocery stores and try really good broth. liz: we love the broth. david: people are drinking that. >> it is first chicken broth -- david: eric, we have to leave it at that i know you want to continue to sell ad homonym. >> i do. david: thank you very much, man. good to see you. eric esch-sur-alzette, zoup. liz: i want the spicy crab. one company create ad way to use your veins as replacement for your credit card. we'll explain that next. david: also we asked you whether you think the rally in the markets is a genuine reflection what is going on in the economy. some of your answers coming up. ♪ i always say be the man withhe plan
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but with less energy, moodess, and a low sex drive, i had to do something. but with less energy, moodess, i saw my doctor.rive, a blood test showed it was low testosterone, not age. we talked about axiron the only underarm low t treatment that can store t levels to norm in about two weeks in most men. axiron is not for use in women or anyone younger an 18 or men with prostate or bret cancer. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpted signs
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of por increased acneor in women may occur.air report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate ccer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlaed or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrh, vomiting, and increase in psa. ask your doctor about axiron.
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afghastan, in 2009. on the u.s.s. saratoga in 1982. [ male announcer ] once it's ened, usaa auto inrance is often handed down from generation to generation. because it offers a superior level of protection. and because usaa's commitment to serve current and former miliry members and their families is without equal. begin your legacy. get an au insurance quote. usaa. we know what it means to serve. >> seeds went from bad to worse for to pilots after emergency landing on a beach when they tried to take off again the plane crashed into the ocean. after the first landing they were trying to make repairs as they set off down the beach to take off but they
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chekhovian the plane veered off course and tipped into the surf then nobody was injured. >> at least they tried. >> don't worry there is a device that could solve your problem. it will seek your credit card to the palm of your hand with the by a mature technology. uses paul scanning technology the electronic device photographs the unique vein pattern just below the skin and the system which was officially unveiled this week at the consumer electronics show'' will star in february. >> you think the big board rally declines from now
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until may. people thought this would happen. >> the top three things to watch. number three, retail sales released on tuesday. expecting sales to rise 0.2% and down from the previous game. >> december housing starts set to be released expecting a drop of 9%. homebuilders outperformed the broader market. >> the number one thing to watch next week are banker earnings. jpmorgan will kick off with results before the bill on tuesday followed by bankamerica, goldman sacks, a group and morgan stanley. keep it right here. melissa: ever wonder what you are eating? the backlash is growing and
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demanding full transparency they say it is time faugh the fda stopped protecting the biotech industry and starts looking out for our needs. what will that cost to? even if they say it's not, it's always about money. melissa: protester is gathering outside the fda to night as the activists call on the agency to require all genetically modified foods

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