tv After the Bell FOX Business January 14, 2014 4:00pm-5:01pm EST
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fourth quarter. blew past company's expectations and sales and global services and sales in 2014 will continue to rise. [closing bell ringing] david: that cop is up 2%. liz: up 15% for tesla as bells ring on wall street. take a look right now. we're at session highs. we kicked higher by another two points. 112 points by the dow jones industrials. the winners here, real leadership names, microsoft and intel as nicole mentioned. the s&p 500 looking absolutely spectacular. the best move since december 18th. nasdaq getting nice bump from the semiconductors all moving higher. david: "after the bell" starts right now. david: it is an exciting day. let's break down today's action. we have ron weiner, rdn financial group founder and ceo. why he expects double-digit returns this year. larry shover, in the pits of the
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cme. larry, it was a tough convert to this bullish sentiment but, larry, i think you're there. i heard a rumor you see another 10 to fifth teen% increase in the stock market, right. >> you're exactly right. maybe not today or this week but eventually we will. economic momentum is moving in the right direction in the u.s. china definitely hit some potholes. they're still moving. eurozone might be economically or aerodynamically flawed. however, they are healing as well. all things come bund, seeing 10 to fifth teen% increase in s&p 500. -- 15%. liz: ron weiner, you're in the business of keeping wealthy people wealthy and growing their wealth. what do you see for the markets next couple months? does this change your opinion from yesterday? you're not that guy who does tick by tick? >> i'm not the guy who does
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month by month either. i'm a guy that looks at the world and says this, any discussion we'll start with the whole world is growing. when we talk about anything, we talk about klein doing okay, last month they passed the united states for the first time as the greatest import export dollarwise in history. they're already the number one car manufacturer. but they're also buying deodorant. they're buying cell phones. they're buying all things that we're buying, same as south america. same as all over the world. the world is growing. what you need to do is partake in the world's growth. david: well, larry shover, we still have problems with unemployment though. we still have problems with the small and mid-sized businesses. we have good retail numbers this afternoon, generally speaking revenues are not performing all that well in earnings. what makes you so bullish despite all that? i didn't mention a pullback by the fed. >> what makes me bullish, on aggregate we're moving in the right direction. moving back to bls report on
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friday, it is not the number of 74,000. it is a three to four-month average still above 150,000. what we're moving in the right direction. i'm penciling a 3% gdp. that's, taking into account the drag of higher taxes, et cetera. we are geeing. i mean it is not -- growing. it is not horrendously great, 3% i'm penciling in, that is pretty darn good for us to go in the right direction. liz: robert, are you hovering around 3% too? if so what names would you add to the portfolio that would capitalize most on your move in the gdp numbers? >> we think there are three sectors you have to look at, financials, technology, and industrials. in that area i pick today, ge, google and jpmorgan. i think that all of these will participate in the global growth, including jpmorgan because we think european banks are not going to be as competitive as large u.s. banks
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and but actually stay in the s&p a little bit, it is 46% of the sales come from outside the united states. i think the world will do really well this year. liz: can i just ask you about the banks. why pick a name like jpmorgan? nothing wrong with them. i think they're a great bank certainly but why not after run-up with most of the names go with what chris whalen last hour suggested and that is names that provide yield, bank of america and citibank? >> i think jpmorgan's the cheapest of all. they're trading 1.5 times book. that's cheap. about 15, 20% cheaper but we also own wells fargo. we own a few other banks as well. david: by the way jpmorgan is cheap but they're also paying a lot of legal expenses is. their revenue came down significantly because of all their legal expenses. their profit was down 7% as they announced today. that was primarily because as they said, legal fees. are you convinced that the government is through with jpmorgan? because i think a lot of people
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question whether that's so. >> no. i think thrill will be some more pain going forward. they set aside $20 billion. besides which, i think we talked about this a couple weeks ago, you're not supposed to buy it when it goes up. supposed to buy it when it is cheap. david: that's a good point. >> this is the time to get in. let that all heal. they got money for it. i think that is a smart bet to go with jpmorgan today. liz: larry, you've been successful as a trader because you developed some good habits. i want you to share that, this month of january, the beginning of the year, with our viewers, if you could guide them, tell them what should they be watching? what are your favorite data points right now whether it is durable goods or retail sales? do you look at the price of gold every day? what is the first thing you fire up your computer and look at when you wake up in the morning? >> yeah, well lately, i think for a long time i've been just looking at manufacturing reports, ism, pmi, inventory levels of the those things are, the best indicator of how our
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economy is doing. beyond that i don't go after the next best thing. as i said time and time again. the coast is clear investing never works. preparing for armageddon never works. we don't want the portfolios going up in lockstep. we want diversification among all types of asset classes. to answer your question, right now it has got to be the manufacturing indexes. that is the biggest indicator. david: let's talk about one big indicator day which is nasdaq which was up tremendously. ron, i want to ask you about the tech sector. we were talking about jpmorgan. they had a interesting call on pcs. they see pcs coming back. they were given up for dead not too long ago but jpmorgan said they're coming back. as a result, we saw intel's stock go way up today. that led the whole nasdaq. what do you think of tech in general right now? >> we like tech a lot. it's cheap. balance sheets have never been stronger. with the global market, we have people buying all kinds of
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technology. companies are benefiting. they don't have to hire people if they can find machines to do what they need to get done. >> by the way is jpmorgan correct? is the pc going to make a commback? >> you know what? i can't see that. i can't see that happening but that's what he says. that's what they say. that's fine. we like google because they're 81% of the smartphone market because we think it is going the other way. so we'll disagree with them right now. liz: larry, is there a dark horse sector that you and the traders chat about whether it is going to surprise to the downside or the upside that you're really watching closely? >> yeah, we're actually watching materials very closely. you know i'm deeply convicted that the housing market will continue to recover, however, that is hotly debated every single day behind me because a lot of people think the housing market ran up too soon, too fast. it is due for a correction for no other reason that the housing market can not continue to move in the same direction. the other side, people like me think there is still room for the periphery to grow.
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not all sectors of the real estate market enjoyed this rally last year. so you can still see stocks like owens corning i recommended back in december with you, are going to be good beneficiaries in the year 2014. david: great suggestions. great picks, guys. thank you very much. ron weiner, larry shover. we'll check back with you in a couple minutes when the s&p futures close. thanks a lot, ron. appreciate it. >> appreciate it. liz: nest labs, before nest labs could be bought by google it needed funding, lots of it. all startups do really. coming up we'll talk to one of the original investors in nest labs, the thermostat company, cache cache carb carb this cop was so hot. what investing picture for this private equity guy? this is fox business exclusive. david: solarcity's 400% rise last year is wall street taking a second look at the clean
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technology sector which a lot of people said crashed. a lot of people say it has room to move, keeping you ahead of the cloud with three clean tech3 names poised for 2014 ipos. we want to tell you about what liz was talking about, google's purchase of nest labs, does it raise privacy concerns? are you concerned google having information about what is going on a inside of your home? let us know what you think, log on to facebook.com/afterthebell. your answers later this hour. ♪ [ male announcer ] what if a small company
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liz: 3-d printing stocks dropping after stratasys issues a mixed outlook for 2014. david: let's go to nicole petallides on the floor of nyse to tell us more about this nicole. >> 3-d printers have been hot. you've seen them running up fast and furiously. today they're under pressure on a day where he market soared. stratasys is the one to blame at least. they came out with guidance here and guidance for revenue, well, that was okay but below consensus earnings per share. one of the reasons they say that was because of sales and
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marketing and research and development invests they have been doing. that is one of the reasons of the however, this group overall has run up very fast. for example, 3-d systems is up over 125% in the last fifth weeks. there is a one-month chart of stratasys. last few months the group has seen a run-up. taking a little breather here, the 3-d printer. back to you. liz: they have had a beautiful move. david: terrific. >> some might call it a bubble. nicole, thank you very much. david: s&p futures are about to close. we have about a minute left. let's head to larry shover in the pits of c. m. will the rally continue into tomorrow? >> i think so but the reason for today's action is not as clear as what happened yesterday, not really. traders behind me are taking a deep breath and realizing we haven't done anything except consolidate and digest since christmas. this is after having four 1/2 drop to peak rally in d rallyine
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fourth quarter. obviously up almost 30% in 2013. so traders behind me are thinking we're just consolidating. it is real nerve blacking to have these knee-jerk reactions we had yesterday and today. until we have the next catalyst, it will be earnings season,% expect more of the same. david: larry shover, good to see you, my friend. thank you very much. liz: thanks, larry. >> you're welcome. liz: we learned a lot from larry. david: indeed we have. liz: manufacturing and services. david: plus he gave us a couple of stock picks as well. liz: going public, ip offs, no easy feat for clean tech companies. even billionaire elon musk who is a big player in the sector has admitted investors are weary of some of these names. i got to speak with him when clean tech company solarcity went public ii 2012. >> investors looking at ipo, for the last 10 clean tech ipos
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that they invested are underwater. liz: chairman of solarcity and ceo of course of tesla. david: doesn't seem like two years ago. solarcity of course ended up being a huge success for investors up 400%, more even. but other clean tech companies crash big-time with billions of dollars going down with them. will we see a turnaround in the clean tech ipo market or is it another false start? we have tom tally, investor place writer and ipo playbook writer. tom, good to see you. we've seen spectacular successes and spectacular failures. what is the future. >> i think the future looks good for a small number of companies that meet very high criteria. yesterday's google-nest deal gave a shot in the arm to the clean tech industry because big part of nest is actually conserving energy. so i think -- david: that's a good point. hadn't thought of that. >> yeah. liz: i have one of those nest
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and it has done well. let me get back to what we can learn from solarcity and perhaps what other clean tech names can learn from them. since they ipo'd, they're up more than 450%. some of that is the idea. i mean they're not just a solar provider. they really help you from the soup-to-nuts process getting your house ready for solar. lyndon rive is the ceo. he is a young guy but started at very beginning. fox business was the first business network to jump on this company way back in 2008. what can other companies learn from what solarcity did correctly? >> i think, i think you need to figure out distribution. and also how do you install these things and get them into homes and in a seamless manner. also how do you make it cost effective. solarcity has done that on every front in terms how they allow for easy financing for things and easy to sign up and so forth. so i think, those are the kind of factors i look for.
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there's a company called sun run. it raised a lot of capital and i suspect will probably file to go public probably sometime this year. very similar to solarcity in terms of the approach and the model. investors will look at solarcity, and they will say, hey, that went up 400%, why not this one? they will see that kind of approach to the market but there are a, not a lot of these companies out there. david: how many of these companies, of course a lot of taxpayers were concerned when they saw a lot of their money went down the tubes and some of them chinese came in and bought them at fire sales which added insult to injury. how many of these with ipos getting help directly or indirectly from the u.s. government? >> i say all of them. if they're not getting loans there is some type of a subsidy or tax credits to try to get them along. these are highly capital intensive businesses. you just can't go start a clean tech company in your backyard. you need facilities.
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you need distribution, you know, lots of people to run these things much and so to get to critical mass, takes a lot of times more money than the private markets have. ipos are great because you can raise a lot of money but you probably need some kind of government support to get you over the hump. liz: nest was a familiar name to people. let's get three names not to familiar but have the potential to go public the next year or two. oak power is the first one. let viewers in on the secret of oak power and why you think this is a possibility here. >> yeah. again, distribution. they have lots of arrangements and partnerships with utility companies. so they have these contracts built in, caked into their business model. that's critical. they're also saving money for utility companies. they always, they're under heavy regulation. they're trying to find ways to boost returns. company like opower makes a lot of sense. recent ipo called silver spring networks which is up 28% over the past year. similar model.
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so i think investors will look at that as, you know by analogy. david: bloom energy, what is bloom energy and why do you like it? >> yeah. it is, you know, the fuel cell business. again, been a tough, tough market. david: it sure has. >> seems like they have -- sure has. seems like they really may have cracked the code on this. a lot of great backing. traction with customers. although of all these fun run would be top of my list and bloom at the bottom because of huge risk what we've seen so far with some of the companies in the market. david: a 123 was electric car 130 million tax dollars in. it went bust and chinese came in and bought it. that will not happen to bloom? >> i hope not. never say never. you know, you know, when we're talking about these companies you really need someone like elon musk to head one of these things. it is not for the faint of
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heart. for investors be careful of these kind of companies. you tan lose everything. liz: tom taulli, on the investor place website. david: good stuff. thank you, tom. earnings for banks get underway and jpmorgan announced results. will investors rain on investors parade. with stronger rules and tougher reporting, we'll ask a former banker who is the director of the cato institute. liz: as we mentioned the tech giant google buying the home thermostat maker nest lab as it moves beyond smartphones and computers and cars and google maps and all of that. we'll ask a early nest investor, what's next in our connected world? and maybe more interesting, what is the he investing in now? it is a fox business exclusive. ♪ [ me announcer ] this is the story
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it's a very short story. come on in. [ male announcer ] by meeting you more than halfway. it's how edward nes makesense of investing. [ male announcer ] by meeting you more than halfway. if ...hey breathing's hard... know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalationowder does not repla fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlaed prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, yo throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd.
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ask liz: breaking news. we're looking at tesla motors. bid and ask jumped 15% during the regular session. tesla, this is breaking news, they are looking to develop a network of superchargers in china would allow drivers to travel for free over long distances beginning with probably the beijing to shanghai corridor. we need to stress that. tesla says you don't need a supercharger network to drive a tesla in china but they will develop it because they want to spur sales of tesla cars. tesla had very good news out, david. they had better than expected q4
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deliveries of 6900 for q4. that is 20% better than expected. what we're now seeing that the stock is moving slightly higher above the closing value. it had just a incredible jump. david: 15% pop today? wow. it's on fire. time for a quick speed read of some of the day's other headlines, five stories, one minute. first up, directv is dropping the weather channel after failing to agree on a new contract. the outage affects 20 million customers as the companies blame each other but continue to negotiate. mobile app usage doubled and social app tripled from analytics company showing that overall mobile use grew 115%, led by 203% surge in the messaging and social category of apps. motorola bringing flagship android phone to europe. the oto x will go on sale in europe in britain, france and germany, february 1st. "wall street journal" report that is fox don shipped
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1.5 million iphone ss to china mobile. the iphone will go on sale friday. pizza hut planning to offer the pizza for sale by the slice. they will tis the locations in rhode island. the costs is 2 so $3. less than a minute today. liz: what does a slice cost in your corner, a buck 50. buck 50. liz: that is big thing in new york, pizza by the slice. google acquired nest labs, that make internet connected thermostats. we broke that to you yesterday. before google came swooping in a number of investors saw huge potential in nest. joining us is one of them. fox business exclusive. this man was one of the first investors in nest labs. he is the partner at light speed venture partners. peter, when did you get into nest? how did it come to your desk and how did you look at it where you said this is a great
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opportunity? >> great, hi, liz, thanks for having me on the show. liz: sure. >> on nest we, we invested first about three years ago. it is amazing how much the company accomplished just in that short period of time. i actually had been, had known tony fadel, the cofounder and ceo of nest since 1991 when he and i worked at a startup called general magic together. i had been hounding tony to invest in him some way, somehow. he had at the time gone on to apple computer and had a very successful career there he was inventor of the i pod and then -- liz: wow. so he is no dummy, right? >> no, brilliant guy. so i had been hounding him, in fact, you know, i would bump into him from time to time in ongoing joke between him and me was, that i had my checkbook ready, and, tony, when can i
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write awe check? finally spring of 2011 we were fortunate to have the opportunity to write tony and his cofounder, matt rogers a check. liz: oh, it is all about networking and keeping friends with people through the years, isn't it? so going back to 1991 you saw this. how much money did you put in originally may we ask? >> the company is a very secretive confidential company so i'm not unfortunately at liberty to discuss that. liz: okay, but i have to ask there you are. >> i'm sure. liz: i imagine you're very excited about the fact that google had bought nest. why do you suppose tony sold to google? >> you know, i think for startup companies there often is a fork in the road and there is no right and wrong answer. there is the path that you continue to be independent and that has got a lot of advantages and some disadvantages. liz: of course. >> likewise in terms of partnering with another company. and, you know, i think in this
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case, google and, it at a very high level, i think google and nest have always had a very cooperative relationship. google ventures was a early investor as well in the company, but the culture and the objectives i think starting at that level are very similar between the companies. liz: right. >> they're trying to produce great consumer experiences. and you know there was a meeting of the minds. tony and matt felt that google, larry page and his team, would give them autonomy to continue to pursue their dreams as he puts it himself. it made a lot of sense. google, there is a lot of complimentary technology, a lot of global reach and certainly lots of resources. liz: peter, i completely agree. google rarely fumbles these things. the world is littered with, not too many companies that turn down google but i'm thinking of groupon turned down googling. it had a slightly rough go lately. found some footing.
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there are concerns and worries that google has so much access getting inside people's hopes, can you speak to those of us, because i have nest, that might be concerned somehow google knows my alarm code? why would they care what i heat my house at 69 degrees. tell me how you calm the fears of people who say, now google is going to have access to all of my information in my house? >> when you buy nest and install it and sign up for their services, nest has privacy confidentiality agreement that it adheres to, none of that will change. liz: none of that will change? >> none of that will change. you know google certainly does have a lot of data. it can take the data and actually make our lives a lot easier but the world's eyes are on google and i think google's very cautious of not making any missteps with regards to privacy. so i think consumers should be, you know, should feel safe that you know, this will not be a
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tunnel into the privacy of your homes. liz: what are you investing in now, peter? you obviously had a huge hit with nest. >> well, you know, if we were to take nest and sort of abstract it out, this category of big data applications, let me take a second to sort of attach the two. liz: sure. >> nest as a thermostat, one of the beauties of it is is smart and the reason it is smart because it is powered by big data. you know wall street hedge funds, very successful hedge funds, proprietary trading desks, funds like jim simonson's fund is powered by data for decades. liz: exactly. >> they have the power and money to process lots of data and make it very useful. turns out with decreases in the costs of computing, the ability to process vasts amounts of data that is becoming democratized.
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what nest is able to do, it actually runs its data processing in the cloud. it is able to crunch a lot of data to actually create the smarts for their thermostat as an example. if you take at that trend, that's an, that is going to continue. it is going to help consumers i% other ways. a lot of connected internet has been each of us as consumers going to our computer screens or smartphones and getting information out of the internet. i think the next waver is going to be when there's data in processing of that data using algorithms and machine learning and all these amazing mathematical techniques and bringing that power of data information into our lives. liz: indeed. >> and nest is one example of that but there's many others. we have a company called bloom reach that is turbo charging online marketing using big data. there is company called vest finance that uses big data
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technology to, to innovate the next generation of credit scoring to be able to give loans to consumers. liz: i know. there is ibm's watson. they're trying to really capitalize on that too. peter, you hit the gold mine with nest and we'll watch your future invests. please come back. >> thank you very much, liz. liz: peter is a very smart guy. david: it is funny, one of the smartest guys in the room out in silicon valley but said a lot of those guys he couldn't tell you everything but gave you information. there are some good leads. we have another smart guy coming up, jpmorgan reported lower profit as regulatory costs and legal fees continue to add up. the fed announcing today we could see even more regulations, this time in the commodity boys. what is the cost of all this new regulation? is it a threat to our banking industry? john allison, who took a sleepily little southern bank called bb&t and made it into a international banking juggernaut. he joins us.
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the former chairman of bb&t is the head of the cato institute. liz: tired of investing in ho-hum stocks and bonds, how about investing in simon cowell's bugatti and? i wouldn't mind. liz: we'll take you live to the barrett jackson car auction for a behind-the-scenes look in what has become the interesting investment, the world of collectible cars. ♪ [ male announcer ] here's a question for you:
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david: well today came news that jpmorgan's profit fell 7.3% last quarter and the bank is partly blaming the fall on increased legal fees. those fees of course are part and parcel of a new financial regulatory structure meant to prevent another financial collapse but it may also be putting a crimp in the business of banking. are regulations and increased enforcement costing us more money in banking fees and lost business loans? let's ask former banker and current president of the cato institute, john allison. john, good to see you. earnings per share, jpmorgan had a buck 30 per share but could have had 27 cents more if it weren't for the legal fees. how are all the legal fees crimping the business of bankkng now? >> hello, david, good to be with you. the regulatory cost of banking industry has gone up
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exponentially. banks have been always highly regulated. my own guest 15 to 20% of the operating costs banks including interest expense is regulatory related. implementation cost of dodd-frank for the whole financial services industry will be in the $250 billion range. it is a stunning number and that will embed operating costs forever. the irony at the end of the day, banks just mick enough money to meet their cost of capital. so at some point our customers, banking customers, either in higher loan fees, higher charges for other kind of services will pay those costs. so they have to be pass along to consumers like the end of the day. david: like most businesses they pass on the cost of doing business but i wonder how it affects loans? small and medium-sized businesses depend so much on loans from banks. how do all the regulatory pressures affect those loans? night is really tough. i started my career as a small business lender and small business lending is really
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venture-capital. you have to make a judgment of the individual, the idea, along with the financial numbers you have. under regulatory pressure banks are forced to go what is called mathematical modeling in approving loans. the dilemma with that, if the loan was good enough from a mathematical perspective you would make it anyway. loans that matter are usually once that don't look so great mathematically and really good idea and really type of individual that you make that type of investment. i through my career, helped people get into business and helped create thousands of jobs and those loans can not be made today. david: talk about your business. you're a humble guy but i will. bbt was a sleepy southern bank in north carolina. you turned it into a international juggernaut, a huge bank. merged with another bank and became even bigger. when you consider the regulatory apparatus we have in power now would that kind of growth have
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been possible now? >> you couldn't do it. you couldn't do it and what's terrible, dodd-frank which is really targeted at wall street is actually killing community banks because even though in theory the community banks are exempt, in practice they can't be because regulators will not have one standard for a large bank and another standard for a small bank because as small banks fail they will get criticized. so number of banks in the u.s. is in free fall. community banks are hurt more than big banks by dodd-frank. david: there is another thing and we don't want to get too conspiratorial here, very often when the government is involved in industry politics get involved and i'm wondering what extent if any do politicians use new banking rules that they have to implement political goals, political agendas? >> there is no question that is a risk and has happened in the past. i mean if you look at subprime mortgage lending, one of the big reasons that banks made some subprime loans is the federal government, the regulators, required banks to have half as
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much capital for a high-risk subprime loan for a capital to loan to exxon. so that incented high-risk lending to low-income individuals. the same kind of thing could easily happen in the future, because the regulators control these capital allocations. and if you think about it it is better than actually owning the bank from socialism much if something goes wrong the bank gets blamed which is what happened in the subprime crisis instead of government and their policies. david: politicians are great for deflecting blame. that is behind a lot what they do. final question, john. all the regs are meant to prevent a kind of 2008 financial collapse. do they do that. >> i think they have absolutely nothing to do with the financial risk in the system. this is my opinion, david. the financial collapse happened because of how the crisis was handled. we needed a correction but we had this arbitrary, no rule of law where they saved citigroup, let wachovia fail. you know, they let bear stearns
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fail. and they saved, i mean they saved bear stearns, let lehman fail. that is what created the crisis. how they handled it, not the financial system yourself. david: maybe it is your opinion but an opinion influenced many decades of very successful banking. john allison, great to see you. thanks for coming in. come again. >> thank you. liz: while vintage car prices are soaring you may be able to snag a rare and classic car at the barrett-jackson auto auction happening right now. it is billed as the world's greatest car show. we take you there live to see how pricey some of these exotic cars really are. david: look at the vw bus there. liz: shiny. ally bank has a raise your rate cd
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that in an exclusive interview back in december. take a look. >> i actually argued and i can only speak for myself, i argued for 20 billion. i think the market could have digested that. we'll have to see how the economy proceeds. david: all righty. that was richard fisher three weeks ago. so you got to keep it tuned here. three weeks maid of the markets. liz: that is a huge interview david, all of sudden everybody is having a fit when he said it right here. david: keep it right here. liz: you're smart already. just spread the word. let's get to the barrett jackson auto show underway in arizona with more than one thousand very shiny, did you see video? cars are up for auction. today's show is the largest thus far. david: adam shapiro live from the auction in scottsdale, arizona, tough duty, beautiful cars, scottsdale, arizona. take it away,,adam. >> somebody has to do it, david.
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i tell you about star cars. meet one of the people that makes all this happen. steve davis is president of barrett-jackson. we have cars which in and of themselves stars in addition to cars once owned by hollywood types. tell me about this, the hot wheels collection here. >> this is absolutely a star of epic proportions. not only are these cars stars, but literally what childhood memories have been made up of for a generation going into the next generation. these cars represent all that is america. drag racing -- >> hot wheels. >> hot wheels. waking up on christmas morning playing, who wants to the mongoose, who wants to be snake. >> i was always the snake. my little brother was always the mongoose. i always won by the way. seriously these cars represent something historic. they are worthy being in the smith knownian. they are a mayor kahn narcs 100% incredibly valuable today. >> we'll talk about it in
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detail. show the audience two-star cars, one owned and driven by michael jackson an '86 ferrari. that is a car getting a lot of attention at barrett-jackson scottsdale. there was simon cowell's bugatti. that will go over a million dollars. that is getting a lot of attention. what is it about hot wheels, don prudhomme is off-camara signing autographs, four-time nhra network. we grew up watching this. >> absolutely. the cars are the stars. the cars absolutely have incredible stars that own them as well. in the case of the bugatti, simon very well-known celebrity. very valuable car. the car's unique in its own right so it has inherent value. the star power is the wild carbone news. you get that above and beyond what the car is worth. >> with these, this is being sold this lot as all four vehicles. that is actually one of the cars that was racing. that is the hauler. don prudhomme's hauler from years ago.
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we'll, we'll sign off right now. we have break news. steve davis, all the best at barrett-jackson. wish you the best at this auction. >> thank you very much. appreciate it. liz: it is car related, general motors. look at this stock jumping right now. general motors declaring a quarterly dividend of 30 cents per share, this on the common stock the dividend is payable march 2th this year. it will include all common stockholders as of record of march 18th. that is why the stock is jumping. people jumping in to get the 30 cents per quarter yield. chairman dan akerson saying that general motors is building high quality, world class vehicle foss our 6 ourour customers. we want to reward our common stockholders. david: that is stock to watch. see if it keeps the that after-hours. liz: the stock closed at $40.02. the bid ask is 41.18. david: we'll be right back.
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jo ling kent joins us. jo ling. >> liz, dave, critics would call two years of probation and 500 hours of community service a good deal sincing warner evaded 5.6 million in taxes over a nearly a decade. that is what supporters would say but his lawyers shot back arguing warner paid nearly $54 million in penalties plus tens of millions in back taxes and interest. according to the lawyers, 69-year-old warner has net worth of $1.7 billion. he has donated 140 million in cash, toys in charity and cash to charity, sorry. as for beanie-babies themselves, it is safe to say their projected worth was totally wrong. those book that is forecasted stripes would be worth $1,000 didn't exactly come true. here is the proof according to chicago magazine. would take 250,000 brownie the bears plus 450,000 spot the dogs and 202 millions of pincher, the lobsters at their current value
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to equal 53 million bucks warner paid the irs in fines. some people are still holding out hope on ebay. the original princess diana beanie-baby went for 4 to $5 originally is for sale half a million dollars. the catch, not one single person has bid for it. suffice it to say, there is no shortage of princess diana bears out there. that 500,000-dollar bear isn't going anywhere anytime soon. liz: it had a gold crown, remember that? >> we all had a beanie-baby story, right. david: not i. not i. but we're still like the story. jo ling, good to see. >> we have a few major stock stories you need to watch tomorrow. we broke news general motors is giving a 30-cents stock dividend. we broke the news they would reinstate the dividend and the stock is jumping. david: tesla, what a roller-coaster over the past few
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months. "wall street journal" says the lick trek car company will set up a network of charging stations in china. this is the world's largest car market. they were up 15% based on amazing increase in sales, 20% more than what were expected for tesla motors. that led to a huge stock pop. it might get more of a pop based on china news tomorrow. liz: the worst performer on the s&p, after it warned and brought down guidance for sales on the holiday. guess what? we have a fox business exclusive with paul raines, the ceo. he said expect double-digit growth when it comes to consoles and double-digit growth for preowned businesses. david: gm and gamestop. watch tomorrow.
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my dad has aor afib.illation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says yr afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)...
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...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surge or a medical or dental procure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a art valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney probls, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, oburning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa.
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before those little pieces would get in between my dentures and my gum and it was uncomfortable. [ male announcer ] just a few dabs is clinically proven to seal out more food particles. [ corrine ] super poligrip is part of my life now. melissa: a huge multibillion dollar buyout today, lighting a fire over google's ever-widening breach. paranoia about the possibility of being tracked in your own home has nest users saying no. will the $3 billion be worth it? even when they say it's not it is always about money. melissa: big money business today. google buying a tech company, nest, for a whopping $3.2 billion but why? the company makes thermostats and smoke alarms. some experts say it is so google can
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