sandra: one in 9 quintilian are the odds of correctly forecasting every game in the n.c.a.a. basketball tournament but if you are right, they will score $1 billion. quick and loans president joins us on the context that has worn buffet -- adam: the latest on the travel nightmare as the west coast digs out from a foot of snow. sandra: nicole petallides is there, earnings driving them. nicole: back-and-forth action, we will see in 2014, the nasdaq composite moving to levels we have not seen since 2000. record-setting day on wall street for the nasdaq composite for names you know such as facebook and amazon and google, united technologies and norfolk southern at highs today.

u.s. dollar higher, gold pulling back, oil gaining and the vix, the fear index to the up side, things are moving but not dramatically. that is where we see the real moves, united technologies, revenue climbed, we will look at where that stock is very gut 3/4 of 1%, almost 116 hitting a new high, and 40 negative dow points down 3.5%, 18189. obviously this is after their quarterly report. at a mixed bag but as we know ibm's revenue is shy of wall street expectations and that has been weighing on the dow jones industrials. sandra: thanks so much. adam: we watching shares of apple, that stock getting a boost on the latest round of tweets from carl icahn. the activist investor is continuing his push for a bigger share of buybacks saying the

company could do this, quote, a great disservice to shareholders. he also disclosed he added to his stake which has crossed $3 billion. sandra: bernie madoff recovering from a heart attack after a hospitalization last month. the 75-year-old is said to be back in prison also suffers from stage iv kidney disease. the is in federal prison serving a 150 year sentence for defrauding customers in a $17 billion scam. he is being held in buckner prison and has not confirm but denied these reports. adam: changes at the top of the world's largest bond fund, the cozy e o tim coe stepping down, the resignation doesn't to effect in march, arian will stay on as an adviser, not giving a reason for his departure but the total return fund faced its worst performance last year, worst since 1994.

later this hour charlie gasparino on what this move could mean in washington d.c.. sandra: cybersecurity developed a revolutionary type of computer security technology, some say it is revolutionaries in hackers tricks against them. joining us to explain is garrett's mess, chief security. thank you for joining us. welcome. >> thank you, great to be here. neil: sandra: this is being called revolutionary. it has to prove itself but can you describe to us very simply how this would work? >> think about it like securing the building. the old way would be to put locks on the doors and windows but an attacker can get through those pretty easily. the new ways to apply polymorphism so an attacker couldn't find the doors and windows. simplistically that is what we do for a website. our technology makes it so that

a bond cannot find its way into the site, cannot figure out how the site works, and so is deflected to another target. because we block these walls we call it a block wall, fire wall against the next generation of attacks. sandra: you call this shape shifter. the way you are describing it is contrary to what we have learned in the past, to react to an attack. this is preventing one from even happening. you are already trying this out with several companies. which ones right now? >> we work with some major health insurers, major ecommerce companies, major banks and the common theme they all have is most attacks aren't done any more by the lone wolf. they are automated script sent across the internet using these infected computers called bots

that can be managed by third parties, in a whole different part of the world. they all have this. sandra: what is google and eric schmidt's involvement in this? >> eric is an investor and google is an investor and they have been very helpful to us in helping us to in the technology, helping us recruit stellar engineers. sandra: why do they believe in you? what is your background? how did you come up with this? >> i was a co-founder of the network security technology widely used across the fortune 500 and the government. that company was acquired by raytheon in 2007. so i have been very active in cyber security for a long time and my cofounders and i have this idea about how to deflect

these kinds of next generation attacks. sandra: of hot topic especially after everything that happened with target and its customers, 100 million people affected. analysts in usa today did call this, your company and what your doing, revolutionary. do you think this is a game change for cybersecurity, your company specifically? >> we really do. we feel every kind of company that operates a web site will need this technology to be secure going forward. we expect within a few years every company will have deployed this in front of their sight and it will cause attackers to have to spend a lot more to be able to hack in whereas in the past it has been the site donors who had to spin to deeend. we are changing those economics. sandra: with companies like citigroup, but when the head of

security at citigroup already praising shape shifter and your company. i guess we have yet to see overall how it is going to work but it sounds promising. thank you for joining us. >> pleasure to be here. adam: protecting yourself from hackers or bad winter weather. the massive storm hit the eastern part of the united states hard with some areas getting more than 0 foot of snow. you can imagine it caused a huge headache for people who are traveling, forced the cancellation of thousands of flights but rich edson is standing by at reagan national airport. some of those flights getting back in the air. rich: the problem is not the airport itself but delays because they have to deice the planes. the runways are clear because of lack of cynicism and airlines trying to get the appropriate flights and planes to the right cities so they are digging through that. take a look here. the misery map brought to by

flightpalmer, in the country, 980 delays, 82 cancellations, and it washington, reagan national airport come as of 1:00 with 68 cancellations, dollars and 27, baltimore and 19, total cancellation in the country changed around 1600 so far. we have seen that over the last hour or two and total cancellations yesterday about 3300 as the system tries to get back on line. if you flying today we talked the aaa and the best plan contact your airline. >> you may run into delays so be prepared to wait at the airport. make sure you bring your air carriers and travel agent's phone-number with you so if you do encounter cancellation you can begin making alternate arrangements immediately. the ticket lines at the airport may be very busy. adam: in a sign that things are

returning to normal in washington d.c. the government is back working today though they are two hour delay. which is normal. thank you for joining us from reagan national. call this pension paid back. the mayor in costa mesa california wanted to cut police and fire pensions. guess what police officers did? calling it retribution. he will join us live to talk about it. sandra: back at the stock exchange, blunt to put it nicely, abysmal u.s. sales. adam: the amazing terms of a possible $2 billion deal to save pr. can use a 10%? why he thinks the u.s. territory is of good investment. [ 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 barreli 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 ltle dorm room -- 2713. ♪ this magic moment ♪

cozy or cool? "meow" or "woof"? everything the way you want it ... until boom, it's bedtime! and your mattress a battleground of thwarted desire. enter the sleep number bed. designed to let couples slp together in individualized comfort. he's softy his sleep number setting is 35. you're the rock, at . and as your needs change er time you can adjust your bed to sleep better together. 48-month financing available throh february 2 only at your local sleep mber store. find your sleep number setting and know better sleep. adam: could a $2 billion to help puerto rico out of its financial crisis? co-founder and portfolio manager at madeleine capital management who also holds porter rican debt and joins me with latest on

this. thank you for joy to the us to discuss this because there are so many opinions on this but at the end of the day we had peter hayes on the program who said he believes there will be a restructuring of puerto ricans debt this year. where do you stand on this and how will this affect average investors who might be part of the new refund or direct investors who may be buying the bonds themselves? >> not necessarily a be beaver there will be a formal structure inside the next year. i think the puerto ricans government and officials have been making substantial progress on the fundamental turn around. there has been a considerable amoont of buzz of plate of problems and issues and the organization of creditors and bondholders but i don't think fundamentally things are coming of the wheels at any time soon. the debt raised could be a good thing for the commonwealth to the extent that it is a price that is acceptable and reasonable.

it is a very cautious situation, really only for those that are particularly experience with tension and municipal situations and distressed situations but nonetheless i don't think it is a situation that is going to default into something chaotic. adam: help us understand why it won't be chaotic, some numbers might lead people to believe otherwise. you have rising unemployment, population that is leaving the island in droves, more puerto ricans in the united states than in pr though you did the tax revenue go up in december they had to serve as the current debt at $3.8 billion a year and don't have the money to cover that. they have a $1 billion deficit and their operating budgets so now they are going perhaps they might add go to banks for direct loans to cover this and bypass the mini market which seems to me a desperate move. >> that is a desperate move to

the extent of the mini market is not showing them the love so to say that they otherwise get from the private market. on a fundamental basis commonwealth has been doing what they said they were supposed to be doing in terms of estimates and budget projections so therefore i think with respect to investors generally fare should be confidence in the fact that they can turn this around and be mindful of the fact this is different than your average corporate situation. is not a situation that will get resolved inside of a number of months. it is something that will take years to turn around. there are a number of measures the government officials are taking to correct the balance sheet, the commonwealth on the asset side and liabilities side and overtime you would think they would be able to do that. to the extent that the market allows them to do with a little bit of wiggle room table get this done over the long term. adam: it sounds to us that you are actually in belief they will get the wiggle room they need to

get past the downgrade in june, there will be new accounting standards which will increase their unfunded pension liability. explain why i got this wrong. they seem to have run out of time. >> i think they have liquidity on the one hand. the factors that you mention the little while ago with respect to all the head winds they face they have been facing those head winds for a considerable time. i don't think there are any new factors in this equations and again, as long as they have the liquidity necessary to go ahead and make it peru and remember a lot of the debt they have to service is not only formal debt but a bunch -- adam: they only have that liquidity if they go direct to banks, essentials although the yields have come down a little bit in the mini market they have been shunned at this point by the bond market.

>> they haven't chosen on an active basis to go out to the bond market. his morgan stanley deal is currently rumored to be getting done. they haven't been mandated by the commonwealth to raise that capital. i think if they come back with a deal that in the enticing for the commonwealth able go ahead and take it to the extent the commonwealth as mike uprising on it or the term thereby they will go at and reject it and they still have some room. at between 9 months of room to go ahead and continue to run on the way they have been running without having to access the market. adam: i am sorry we have to cut it. a lot of people agree with you because we see money going back into the money-market and some support rico, thank you for joining us. >> my pleasure, have a good day. sandra: retail stocks big movers. sales corp. up 2.3%, even as it closes its flagship store at state street in chicago a big

deal there. target setting health care for part-time workers the stock down 0.2 presented $59 a share and also watching coach right now down $3.5, a drop of 7% on pretty much some very weak earnings for coach. i will let you take it from there. a big slide. nicole: retail is a big story. across many retailers, foot traffic in stores as well so fewer customers coming to the stores to walk around and look around but that being said their same-store sales dropped, north american sales were weak, left with what one analyst called stale merchandise, they have a new creative director, a new chief executive, new elements that will be coming into the stores but for the moment there is a lot of stuff everybody knows and they face intense competition from system pacific

turning the name over to -- they have tough competition. ashley: time to make some money with charles payne. the sky is the limit with a tech company that has been off to a great start in 2014 fiscal year. tell us about this. charles: i have to chime in on this. when you talk about aspirational is like people feel like they climb the ladder in life and right now there's a lot of women i know, going backwards instead of forwards, they got to figure out a way to become aspiration again. sky works is a chip company. they are actually based out of america and reinvented themselves a few times but the reason i like this are three reasons. smart energy which is the grid, power management and the internet of things. a week ago, talk about smart energy play that got crushed, we

are still in it, want to update your is on that, dan have a chance because of these types of things that the internet of things is the interesting thing. by 2020, 50 billion machines will be connected to the internet. a whole lot of specialty chips, that is an area where these guys get carved out a nice space for themselves and stock as you have seen has been doing pretty well. sandra: how do you get investors excited about chipmakers when we had a report from against micro devices even though they have the new play station, the new x boxes, sales were up but the outlook going forward is pretty dismal from the company? charles: look at a macro place where we are, no doubt there would be killer apps out there. and so many computer chips, and a semiconductor on wills.

it will be chips, chips near-term, i will be shocked if the stock is not significantly higher over the next 22 years. sandra: march madness turning into a cure in sanity. quick and loans, $1 billion prize if we have the perfect n.c.a.a. everyone thinks they can do it. exclusive interview, how warren buffett is serving the insurance policy on this. ashley: liz claman in switzerland for day 1 of the world economic forum. liz: you will hear about a hundred different languages being spoken. coming up the voice of a greek shipping magnate who is not only here for his helicopter leasing but take what they are and also return of greece.

my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you that's why i take my warfarin every day. at 5 times greater risk of a stroke. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... .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 surgery or a medical or dental procedure. pradaxa can causserious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. prada may increase your bleeding risk

if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ..r if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. 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.

adam: it is day 1 of the world economic forum. sandra: what is different?

as we begin 2014. >> confidence in the recovery is better. if you think year or two ago the economy felt like it was moving and growing but it didn't have much confidence in that and as we sit here today we feel more confident about its continuing in the united states. adam: davos is warmer than new york. the last 44 years the world's business leaders go to try to solve the biggest global problems. liz is in davos. the problems today are different from the ones three years ago. liz: youn here until you hear about greece. there was so much concern. at that point, a $5 billion shopping spree and he is a greek ceo. we are welcoming george logof t logofett

logofettus. you are in all sorts of industries, jets, helicopters, going forward how does it feel today? >> you mentioned greece. thanks for having me. as far as greece is concerned did should be about the opportunity of greece instead of the crisis and we have been buying a lot of assets and expanding our business and employing people. we feel a duty to help and an opportunity as well so the marriage of that opportunity is a powerful force and the greek opportunity and less about the greek crisis. liz: you are a big capitalist. your father founded the shipping company, you became ceo at age 19, and you turned it into something much bigger, you had 30 subsidiaries in many countries and continents, to me i look at that and say you are capitalist first but you wouldn't go into greece if it were not a good business.

>> it is both. the fact that values have dropped from a capitalist perspective if you are buying. on the real-estate side. obviously the other issue with greece is its strategic importance. if you look at it geopolitically, you don't hear about the geopolitical importance of the country, it was huge and that is still happening, it is not fully recovered. we believe strongly that 2014 is going to be the year of great growth. liz: interest rates, a hundred dollars, you have done so incredibly well. what is the value of being in davos? >> is priceless. how much information and communication is democratized, face-to-face meetings you can't beat that. it is important for me from a functional perspective you

actually get to meet a lot of people we do business with in a three day period. that is priceless. liz: what is one of the most lucrative deals you ever struck that was born in in davos? >> it is more contact and sort of movement of almost intellectual capital that you get from being here and the global view that exists, people all over the world and different industries, not-for-profit, and mixing of ideas. >> you struck a deal with him here. did you not? >> a very nice man, and the leasing business, and yes the relationship was forged partially herein in davos in a face-to-face way, in a very human way. liz: is there someone here this year you are dying to hear from, listen to or meet? >> it will be interesting to see

the president of iran speaking and that is something i am exciting to hear about. and so many meetings with all the people we do business with a round world. we have a global group operating in 25 countries, window of opportunity to meet everyone in three days which may take six months. liz: use our helicopter leasing business as we finish, you grow up in london. there's a perception that greeks who lead greece are incredibly motivated, they work hard and become successful so the greeks who stayed there, this is the impression from some people, are lazy, don't pay taxes or admit they have swimming pools because there's a swimming pool tax. >> first of all our experience is greeks are far from being lazy. we were a very industrious, ambitious, hard-working people, one needs to move away from the sound bites of laziness and in

our worlds, the government today doing a good job of combating the corruption that does exist and if you look at the headline in the last few weeks they have really gone off a corruption in a big way. liz: we thank you so much. sandra: we will have more from liz claman all day from davos. in the next hour imax's ceo. adam: facebook status updating, cheryl sandberg is joining the millionaire boys club, details for you next. liz: the price of perfection $1 billion. quick and loans hungering with warren buffett, a perfect n.c.a.a. tournament bracket. [ male announcer ] e new new york is open.

op to innovation. open to ambition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxesfor te. we're new york. if there's something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com.

adam: we've got big news for us here at the fox business network. veteran financial news anchor maria bartiromo is coming aboard joining us as global markets editor. she will be hosting a show on fbn and and a business show on sundays on our sister network, fox news channel. >> welcome, maria. time for stocks. head to the floor of the new york citynew york city. new york stock exchange. >> netflix due to come out with numbers, the key is subscriber growth. they are leaking at 56 cents a share, easily pass as year ago at 13 cents. continues to grow and gain market share pro cable providers and the like and even winning golden globes and all kinds of awards and et cetera, really

trying to beef up programing they offer to their subscribers. net mix which is obviously on our raid today today and up right now, $2.78. we'll keep an eye on it. last 52 weeks, up 236%. back to you. >> thank you, nicole. adam: leaning in to her bank account. lien in author cheryl sandberg author pass one billion dollars mark. chief operating officer of world's most popular social sharing network. she owns shares valued at $750 million. this makes the 44-year-old who sits onboard of disney and starbucks, one of the youngest female billionaires in the word. what is your excuse, sandra? sandra: like to be in that club. start planning your march madness brackets now. maybe i can get in the club real fast. quicken loans partnering with warren buffett to offer one billion dollars to anyone who picks the correct winner in every single ncaa tournament

game. if you're single close to $600 million after federal taxes. still take that. james farmer, president and chief marketing officer of quicken loans. he has an inside look at this opportunity. everybody ears perk up on this one, james? how will this work? do you have to pay anything to enter this contest. >> no. sandra, it is absolutely free. thanks for having me today. we're excited on march third we'll open registration and folks across america can go to quicken loans.com and register their perfect bracket. and hopefully we'll get a winner and we'll give away a billion dollars. sandra: first of all, before anybody gets too excited, i want to talk about the odds of this happening, of somebody winning this contest. the odds of filling out a perfect bracket this year, 1 in 9.2 quinn till i don't know.

adam: that is nine with eight steen zeros. you have better chance hitting a hole-in-one in golf. what makes this different from exam blink by the way. >> go back to the odds for a second. we were talking to warren. it is impossible to predict exact odds because you don't know who will be entering. that affects the odds more knowledge you have about basketball. we think that number is a bit stretched. these are long odds. we're guaranteeing that 20 people will win $100,000, to pay off their mortgage or buy a new home or remodel the home. no matter what, some people will win big money here. we're hoping somebody walks away with a billion. sandra: if you have nonof basketball. espn did this. 1.5 million brackets were submitted. none was perfect after the field narrowed to 32 times. even if you're knowledgeable the odds are pretty difficult. what made you get together on

this? whose suggestion, who came up with this? >> warren was in town visitings our company in the city of detroit a few months back and kicking around the idea with dan bill gert he might be able to insure a billion dollar prize. we talked how we roll this out and make sure no matter what somebody won money. that is how it all came about. sandra: i'm going back to the other question, because i need to be clear on this what does make this different than gambling? >> well, this is a sweepstakes. so it is free. you're going to go register online and very simple. anybody who registers has a chance to win. so that is why it falls in the sweepstakes category. sandra: a billion bucks. how many people do you expect to sign up? you're limiting it to 10 million entrants. do you expect to get the number? >> we hope to get 10 million. we have an option to increase the entries. we'll watch to see what is happening. if we're getting a lot of enthusiasm like we hope. we'll increase the number and

take more entries. ideally we would love 20 or 30 million folks to enter this thing. because like you said, odds are long but only takes one bracket to make it happen. can you imagine if somebody were to win that one billion dollars? it would be one of most exciting things that ever happened. sandra: in case somebody will be that person, it would be paid in 40 annual installments of $25 million apiece. the winner has 70 shun of single payment of $500 million. want to put that out there. >> right. that's right. sandra: jay, thanks so much. >> thanks for having me. sandra: good luck. i hope somebody wins it. adam: you are going to enter, aren't you? sandra: no. adam: you have to enter just for fun. you take money today is better than the payment. smart. surprise departure for heir al parent and world's largest bond fund and troubles to treasury secretary jack lew is having.

charlie gasparino will connect the dots next. sandra: las vegas's oldest casino is expecting the world's newest currency. details ahead. ♪ woman ] when you own your own business, it's a challenge to balance work and family. ♪ that's why i love adt. i can see what's happening amy business from anywhere. ♪ [ male announcer ] now manage and help otect your small business remotely

with adt. arm and disarm your alarm, watch secure video in real time, and even adjust your lights and thermostat wherever you are. with adt, you get 24/7 protection through our exclusive fast response monitoing. you can be confident that ad is always there for you. hey, lisa. is that the delivery we've been waiting for? [ male announcer ] and now you can get adt monthly service for your business starting at less than $2 a day. [ woman ] i love the convenience of adt. i can finally be in two places at once. [ male announcer ] call today to get adt for less tha$2 a day. helping protect your business, is our business. adt. always there. >> all right, i'm dennis kneale with your fox business brief. french officials and goodyear tire workers at a factory in northern transreached an

agreement ending a 10-day standoff after workers detained two of their bosses for 24 hours demanding more severance pay. verizon seeing first anti-snooping transparency report estimating how much law enforcement requests for customer information. last year's total, near half a million! verizon received 320,000 queries and 164,000 subpoenas just last year. west virginia regulators imposed a deadline of 4:00 eastern for freedom industries, the company blamed for the chemical spill that contaminated the water supply in charleston. demanding the company make fuller exposure. they said a second chemical released january 9th in that spill. latest from fox business, power to prosper.

world's largest bondd departure fund could mean a change in

washington, d.c. sandra: charlie gasparino here now on why mohammed el-erian could be headed to the nation's capitol, charlie. >> we have to point out there is a lot of connect the dots here. el-erian has not made any statements about this. the obama administration has not made any statements. we should point out, jack lew the current treasury secretary is in davos. he is still the treasury secretary. we know that president obama likes jack lew. he is the ultimate decider here. this is interesting behind the scenes stuff going on in washington. treasury officials, some treasury officials underneath lew, are essentially the geithner-crats, these people appointed very loyal to the former treasury secretary and they are in the shad dough government of wall street, they're saying jack lew's short tenure on job is proving one thing, he doesn't have a very strong hold on markets, doesn't understand the markets, doesn't hold a candle to geithner. a lot are talking whether jack lew will basically survive the

rest of obama's term. there is the possibility according to these folks that he will step down before president obama's second term is over. we should point out that is what they're saying. president obama made no statement. i would think it is highly unlikely it will happen soon. i'm getting this from senior people at major firms talking about this. this is clearly what is being bandied about in washington at the treasury among the geithner-crats. at the same time we have this unexpected, i would say, very unexpected move by mohammed el-erian to leave pimco after seven years on the job. everybody thought he would be there for a while. bill grows, may at some point, bill gross is the chairman and step down and take a much more hand-off role and, and that, the opposite might happen. he would basically control the firm. now that is not happening. when you have those two things together, what is in rumor mill, this is a guy, mohammed el-erian, may want a treasury position, may want to take jack

lew's place if he doesn't. looking to throw his hat in the ring as in a governmental role. we should point out that, mohammed el-erian has been a comanager of a fund. this is how you know, here is some of his record. the fund is losing out to its comparable index by 35 points. this is a gentleman that is very smart, very glib. on tv a lot. much of what he has been predict on tv has not come true in terms of inflation and the market. so he hasn't had a very good record so. sandra: this is to be sure, pimco wanted him to step aside? >> i'm laying out the facts. i can tell you this, everybody is trying to figure out why he left. sometimes the most simplest reason, right? i can tell you this, i know in washington right now there is lots of talk about jack lew's qualifications following tim geithner. tim geithner was a economic bureaucrat but a guy that ran the federal reserve bank of new york. so he is a banker.

he ran the biggest federal reserve bank. that is a huge thing as president of the federal reserve bank. you know markets. sandra: yesterday you reported larry fink is gunning for the position? >> he is too. from what i understand -- adam: under clinton administration should she be elected. >> there is lot of stuff going on with jack lew. there are clearly question marks about his ability to handle this job from people who are very close with tim geithner and deal with the treasury department and work in the treasury department. now that is clear. when you put that together with the sort of unexpected thing about el-erian, then the rumor mill starts. sometimes fun to talk about the rumors. adam: could be a bad year and it was really bad year. >> he had really bad -- i'm saying little connect the dots. sandra: it is an interesting move. >> i would say this, if jack lew stepped down in a year, nobody should be surprised. this is not a guy with a lot of qualifications. you are treasury secretary nd you have to deal with banks and global market upheavals and his,

year-and-a-half at citigroup doesn't exactly qualify him for that job. adam: charlie gasparino, thank you very much. we'll mark the tape and save it, one year from today. sandra: las vegas ka-ching. two vegas casinos will announce they will accept digital currency, bitcoin. there's a catch. you can't use it for gambling. the d casino and las vegas oldest casino, the golden gate will allow bitcoins on purchases at the front desk, gift shops and astronauts. so no gambling. they will be processed with bit pay which allows merchants to accept bitcoins just as they would credit cards, adam. adam: we have a faceoff in costa mesa, california. politicians, police officers and they don't like each other. sandra: we hear from the mayor who says he has been targeted after cutbacks. ♪ [ 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 barreli 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. ♪ this magic moment

♪

adam: all right, the battle over police pensions is taking an ugly turn. one california mayor is taking the costa mesa police union to court claiming he was target of police intimidation pause he is trying to curb police pensions and outsource some city services the costa police union is denying that claim. we have the mayor of costa mesa, california. did i pronounce your last name correctly, sir. >> you pronounced it perfectly. adam: thank you, sir. what happened here? several cities and towns in california are trying to curb their pension expenses. you are trying to do that. you laid off city employees bringing finances under control. what happened to you once you

started doing this. >> well a couple of things. first off a look at issue here. the issue is not with the actual police officers. we have great police officers. it is with law firms they used to negotiate their contracts and unions. that is where the props happen there. we have great people out there doing a great job. the problem is they're unions and their lawyers -- in our case -- adam: you were having a drink and then what happened? >> well, i was actually at a local bar restaurant and i left. drove home. got all the way home. when i got home, my wife said there's a police officer at the door. before you know it, i'm doing a sobriety test out in front of my house in front of my wife and kid. once i got back in the house, i realized the officer was talking to somebody down the street. sure enough what actually happened there. i went into the restaurant. i hadn't been drinking. i had two diet coax. but under cover investigator for the police officer's association. followed me home. called in a fake 911 call. said i was driving drunk and had

a police officer come to my house. we found out in a day or so he worked for law firm that represents our police officers association. the district attorney got involved. from that point point on, we found out that city is unusual, these law firms are doing almost extortion type techniques on elected officials to get contracts done. adam: wasn't there a fbi raid to law firms and didn't they find potential evidence that would helped credence to your accusations. >> there have been several. they are up outside of los angeles. they represent 130 police officer associations. so a lot of these police departments, their unions work with this law firm and what they did, is that the fbi finally got involved because so many police officers associations had been involved in this, that talk of extortion of other elected officials came up. when they did a raid on these law firms and or their private investigative groups they came

back with evidence not only had they had investigators follow us but actually one of our councilmen, they put a tracking device on his car during the whole election period last year. adam: just as we wrap ups it was the law firm representing the police officers union, not the union itself, correct? >> well, the law firm and, we don't know exactly who is all connected in there. we do know there is no talk of an any actual police officers but the problem is that the police associationsshired these law firms to get what they want. that's the problem. >> i apologize we have to end it there. mayor jim righeimer. we also reached out to the costa mesa police pension for a statement. sergeant ed everett told us quote, the current political climate that the council disseminated the police department. we had previously 160 police officers. we currently have 100 available now. specialties around the department have been decimated of the we no longer have a k-9

program, no helicopter program, no school resource officers. detective bureau used to be about 20 we now have eight. gang unit down to two members. this is environment they created under the guise of pension reform. sandra: tracy byrnes and ashley webster up next. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybodcould have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your trading platform with think or swim from td ameritrade.

♪ [ male announcer ] a car that is able to see, to calculate, to think --

and can respond to what it encounters. ♪ even if that means completely stopping itself. it's the stuff of science fiction... minus the fiction. the 2014 e-class. see your authorized dealer for exceptional offers through mercedes-benz financial services.

tracy: hey, good afternoon, i'm tracy byrnes. >> i'm ashley webster. baby, cold outside in much of the country. where are you going this winter to warm up? anywhere but here. full coverage of the polar vortex and resulting travel delays next. tracy: propane hitting new highs as frigid cold blanketing the country, causes shortages and emergencies in 18 states. how can you make money on this ahead? ashley: but it is 70 degrees in order. that is where "the donald" and president of the pga will tee it up from as they sell the game of golf. you don't want to miss this one. you don't want to shank it, hook

it, just be here to watch it. tracy: whatever you said. saying no thanks to advertisements for marijuana, good for them. even in states where it is legal. ashley: and he discovered grammy nominee katy perry. we're joined by lava records head, jason flam and picks for the grammys. we'll have that and so much more ahead in this rockin' hour of "markets now." tracy: it is rocking. something about a hook and a change. ashley: sound painful. tracy: have to go to nicole petallides on floor of the exchanges. we go there every 15 minutes. i know you're talking about big blue today. >> ibm will be something we talk about right now. right now the dow jones industrials down 41 points. you can say thank you big blue for that. of the nasdaq up 1/3 of 1%. nasdaq is it hadding a new high today. s&p 500 fractional moves to the upside. this is action not too far off

the unchanged line. only nasdaq in the green so far this month, january this year, 2014. that being said let's get to big blue. look at ibm. came out with the numbers. real disappointment for ibm the stock is down six bucks. that is a loss of 3.3%. they're still trying to unload the low-end server business as well. not the first time they have tried to do so. a couple of companies may be in the running for this one. as we noted, the stock is to the downside and analysts are cutting numbers as well. back to you. ashley: nicole, thank you very much. boy, it is cold outside in much of country. where will you go this winter to get warm? florida? caribbean? anywhere sound good. give us a tweet and your answers will be at the bottom of the screen. our rich edson just outside d.c. at reagan international airport where people are having a tough time getting anywhere in all this snow, rich? >> if you're looking to get warm, don't come here. it's cold in washington.

that is actually delaying flights a little bit here. the biggest delays in d.c. are the deicing procedures to get planes in the air. onp to of that waiting for flights and planes to come in from other places of the that is the bottleneck that persists in the system. from 10:00 a.m. to 2:00 two p.m., 5500 delays. here in d.c., cancellations at national airport up to 70. that has been growing. dulles at 27. total cancellations, more than 1600. add that on top of 3300 nationwide yesterday. we talked to a number of different airlines in washington port authority. it takes time to get all the flights back on schedule, get passengers rebooked and get everything set to go. there are a number of passengers who have been waiting for last couple hours and days to get on flights. they're making due.

actually, sorry we would throw to passengers there. we don't have that. so i will throw it back to you. ashley: we can only imagine what they were saying, rich. we get the picture. tracy: a lot of expletives. maybe that's why we didn't get to show it. >> they're dealing with it all right. we met one guy who got back after 24 hours of waiting in fort lauderdale. if you're going to get stuck anywhere might as well get stuck in fort lauderdale. he had parents there anyway. it worked out for him. people are handling it pretty well. at least people we talked to. if you get to the other side of security might not be as pretty. ashley: it is winter. it snows. >> thanks, guys. tracy: you have to have some level of patience with this stuff. ashley: doesn't matter either way. you will be stuck. tracy: thanks, rich. the winter weather i should say and freezing temperatures putting a big strain on supplies of propane which millions of americans use to heat their homes. this is leading to a spike in prices in some states. up nearly 50% from a year ago.

joining us is roy willis propane education and research council ceo and president. indiana basically saw that, a dollar increase in gallon in propane from a year ago. please tell us, roy. it is not a supply issue. that's not the problem here. >> the united states produces more propane than it consumes. we're actually an exporter into the world mark -- market for propane. we're experiencing a weather driven surge of demand stressing our ability to deliver from large storage caverns where propane is stored, in key markets particularly in the midweet and northeast. tracy: is it literally you can't get to them fast enough? or because of the bad weather you just can't drive. >> the bad weather certainly contributes because propane is delivered to homes and businesses by trucks. so that is certainly delaying local deliveries but propane is

also transported on pipelines that are literally full at the moment and, on railcars. there have been some issues with having the availability of railcars. a lot of it has been diverted into crude oil transportation because we don't have enough oil pipelines. so we're having just a great deal of difficulty getting the infrastructure to transport ample supply to the markets where it is consumed. tracy: now some states, which i did not know this, they have hours of service rules. maybe you can explain this. i know michigan, indiana, and ohio have suspended their hours of service rules. what does that mean? >> well, essentially there is a limit to how many hours a driver in a truck can operate and suspension of hours of service enables them to work longer hours. tracy: is there a safety concern there, that these guys are overtired and driving around with probain in the trunk? no certainly that is one of the reasons that hours of service restrictions are put in place.

companies monitor it. we can't afford to have trucks, you know, in accidents, that sort of thing. tracy: right. >> we monitor it very carefully. tracy: ohio is the 17th state to declare an emergency. basically there is a big shortage in states like ohio. 17 others now. what's happening to get propane out to these people? >> well, again, it is about moving it through every mode of surface, every mode of surface transportation possible. pipeline, railcar, truck, barge, in some cases ships, are trying to move propane into those, into those regions of the country. tracy: a few safety tips for people. i thought i read that do not, do not, bring in your propane tank from your grill into your house. better yet, don't bring the grill into the house if you are short of propane. >> absolutely. safety and a health risk. those appliances outdoor grills, camp stoves are made for outdoor

use and can present a health and safety risk indoors. tracy: prices are going up. i mean ohio, we've been talking about up 70 cents per gallon over the past year. minnesota, missouri, kentucky, indiana, all seeing big spikes. do you think this will come down once you ggt transportation thing under control? >> oh, absolutely. we have seen these kind of spikes when we have the huge increases in demand before. prices stablized after the weather abates. tracy: roy willis, propane education research council and ceo. thanks for being with us, sir. >> delighted. ashley: warmer weather would be nice. take away demand. movie ticket prices going even higher. thanks if you own the stocks or blame if you go to the movies goes to imax. liz claman will talk to the ceo of the big screen movie format straight ahead from davos, switzerland. tracy: selling the game of golf. golf course mogul donald trump and pga ceo all in sunny orlando, florida, at the pga

mid-show. we'll talk to them all next. ashley: very nice. tech minute, buy a phone, get a bank account, what a deal. t-mobile's latest plan to get you to switch from verizon to at&t straight ahead. tracy: as we do every day at this time look at metals how we're doing. morgan stanley cuts 2014 target by 12% and $1160. silver and copper down as well. dow down 38 points. don't go anywhere. bevacqua. [ male announcer ] here's a question for you:

is your tv powered by coal? natural gas? nuclear? or renewables like solar... and wind? let's find out.

this is where america's electricity comes from. a diversity of energy sources helps ensure the electricity we need is reliable. take the energy quiz. energy lives here.

tracy: time to make money with charles payne. this hour looking at real company appropriately enough. we were talking about transportation on the race. maybe showing us the economy doing better than we think, charles. we were talking about moving propane. talking about propane on the rails. >> that's huge. i have to tell you with all the earnings out, nothing is more important than my mind than norfolk southern. i've been pounding table on rails for year. kansas city southern is always my favorite one. years enough they were smart enough to buy railroads in panama and mexico. when the new panama canal opens up. look at the results from these guys, okay? you look at all the different components of this business.

chemicals are up 21 percent. metals were up 12%. intermodal up 6%. of the agriculture up 9%. automotive up 10%. paper and forest up 8%. these are amazing, absolutely astonishing numbers are down, we understand, war on coal. even that was down less than expected. there were a few silver linings. export demand is looking little better and want some industrial business. for them the fourth quarter was a record, with respect to revenue rand income, from operations. net and earnings per share. they're in 22 states. not necessarily a proxy for the entire country. exactly, connected to every major container port on the east listen, ibm is an ibm story. they have missed four quarters in a row and the hardware business is down 11 quarters in a row. coach is a coach story. this seems a much better proxy for people concerned about the direction of the economy. for the company itself i was

happy saying cap-ex spending 2.2 billion. ashley: wow. a long time since we heard that. >> i'm looking for cap-ex spending companies putting money in the business because they expect demand. tracy: why are you in it? >> we have so many different railroads. i think we're still in kansas city southern and maybe like one other, maybe canadian. we're not in all of them. we weren't in this one but i love the rails. tracy: getting in this one now? >> this is something i would have in 401(k) the reason i wanted to really talk about this more, we're looking for proxies. we take it from government surveys and data. i prefer to take my cue from corporate america, better litmus test what is going on. this is a good one. tracy: everyone should take their cue from charles payne. thank you very much. ashley: thank you, charles. tracy: it got dark. ashley: i thought i was having one of my spells again. time to check the markets. nicole petallides on floor of new york stock exchange. watching blackberry, and nicole,

often say blackberry is in the green but it is. >> that was a nice special effects there. look at blackberry right at 10 1/2 dollars. up 59 cents. a gain of nearly 6%. this week the stock is up about 17%, give or take. a couple of pieces of big news. the first is that they have been selling off real estate assets over in canada where they are based. they're headquartered in waterloo. some are starting to question whether or not they're going to be staying there. they haven't provided details on all that they have been selling. the other big vote of confidence from the pentagon, department of defense saying that they used blackberries to the tune of 80,000 of them. so it is just shows that blackberry is great company with strong security. so, back to you. ashley: that is issue. security angle. are is life there yet, nicole. thank you so much. tracy: you don't want to miss this one. donald trump and pga chief pete before vac with tee off on challenges of selling the game

of golf. >> from florida, where else. liz claman goes to the movies with rich and famous again with who else, in davos, switzerland. liz: davos may attract the world's biggest gathering of business luminaries and business leaders. it is so small that it has one tiny movie theater. how ironic the ceo of imax theaters comes every year. we have rich gelfond on how one of his most important and lucrative relationships was solidified in this small swiss town. [ male announcer ] e new new york is open.

open to innoon. open to ambition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and ows more businesses.. we're open to it. start a tax-free business at startup-ny.com.

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. ♪ this magic momt 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 stories. that began much the same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪

tracy: day one of the world economic for rum in davos, switzerland. in the laws hour, liz claman spoke with the chairman and ceo of lieber group. >> we've been buying assets in greece. we've been expanding our business there. we've been employing there. we feel duty as greek to help the opportunity. marriage of that duty and opportunity is quite a powerful force. we should talk more about the greek opportunity and less about the greek crisis i think. ashley: so here's a question, why do ceos like georgia to davos? why should it matter to you that the person who runs the company whose stock you might own is climbing all the way up the

swims alps to meet with other ceos? because there's money in them their hills. that's why. liz claman is with another ceo who found davos gold. liz? liz: rich gelfond, the ceo of imax, walks through the halls here at the congress center and it recognized by some people internationally, i have actually followed him and people from all over t, saying rich, rich, hi, rich. how many years have you been coming to davos? >> about a dozen years. i would like to think that is function of personality but i think it is a function of familiarity,. liz: it might be. you were somebody who came and started 12 years ago and started working deals. >> that's definitely true. i identified china as a key market for imax a long time ago. at davos there was almost nothing going on about china. so i would go to the one or two china sessions there were and meet people there and over the years as china rose as a power you saw more and more people

from china come and you built more and more connections. so now every year there is usually a cc-tv party and i feel like, i work for cctv. i know so many people but definitely this is a place where you can set an objective. you can really work it over a long period of time and you can succeed if irdetermined. liz: absolutely. that is perfect example. one ceo says i'm networking so much i don't even go the pan necessary. you started going to specific panels and targeted them with specific focus and turned that into relationships. >> part of the key as you know is the panel themselves rather than the audience. you would go up and see someone that is property developer and trying to accomplish this or that and find someone in the entertainment industry and ask if they could introduce you to this person. you can't really come to davos. with intention i'm going to network. you come back with a lost card. you won't remember when you have a lot of card. come in with a focus and say

this is what i want to accomplish. liz: part of that relationship you forged with china is coming back in spade right now. china's group opening, how many, 80 imax theaters by 2021. >> now it is 120. liz: now it is 120. >> it was first 40. they added 80 more. even i lost count. liz: that is amazing. how do you maintain success of imax screen where areas in china don't make that much? i heard some areas of china tickets are scalped for $90 a piece. >> first a market like beijing and shanghai will have lot of theaters. much smaller market which is not economically prosper russ will have one theater. even though the general level of living isn't that high, there is enough people willing to pay the price. maybe the most important thing we learned in china and other countries in the world, you have to program not only globally but

locally. so in china last year we did six movies. one of our movies, journey to the west, was one of the most successful movies in china. another one with "police story" which starred jackie chan was successful. we did doom 3 in russia. in stalingrad. you have to start thinking about the movie industry differently. not just hollywood exporting its product and its culture but local countries starting to deliver on their cultural messages. liz: you're here in davos but let me throw that out, where have you been last 1 1/2 months? >> hard to answer. i haven't been home in two weeks. last two weeks i was in toronto, italy and here. before that i was in china and california. think for christmas i was somewhere if in the caribbean but i barry remember it. liz: i don't know how you do that you come here squished in a small hotel like everybody else, right? but it is worth it.

>> it is definitely worth it. you are squished. you have to learn to live out of your suitcase. my wife and i were talking yesterday, so many people think coming to davos is a glamorous experience. as you know it is an effective experience. way you live putting up with ice and cold and everything, glamorous wouldn't be the first word that comes to mind. liz: you're a movie guy. tough ask you, do you have a favorite oscar contender? >> i do. i think it is "gravity." i think carlos was very effective used camera shots and special effects and weaved it all ogether. the story really works which is what is is about with audiences. when you break new ground and move industry to a new level you deserve an oscar. liz: everybody is talking about it, especially for our audience and investor audience, worst of wall street. you saw it, right? >> i loved it as a movie but i'm not sure it spoke well to your audience that was years ago. i'm sure it all changed.

liz: i'm sure. you have a busy schedule. thanks for joining us. rich gelfond from imax. back to you in new york city. ashley: liz asked gelfond that j.j. abrams refused to shoot his next movie in imax. gelfond telling liz exclusively, we're confident working with us in the future. thanks, liz claman. coming up on "countdown to the closing bell" liz will sit down with hilton worldwide's ceo. that is 3:00 p.m. eastern time here on fox business. tracy: also coming out of davos today, yahoo!'s marisa mayer calling on obama administration asking for greater transparency with data collection in panel with other tech ceos. mayer says people don't know what data is being collected and how it is being used. mayer said revelaaions about government snooping have hurt her company and yahoo! wants to rebuild trust with their users. shares of yahoo! up over 9% in the last year.

kudos to her. today the stock is up about 50 cents. $40.06 a share. ashley: good-looking chart. tracy: yep. ashley: coming up in the next hour of "markets now," apple shares are on a tear after carl icahn bits big on the cell phone-maker. that is ahead in tech minute. tracy: donald trump and pga ceo ahead on the drive to sell the game of golf. ashley: he discovered grammy nominee katy perry. we're joined by lava records ceo, jason flam with his picks for the grammys and a look inside the music biz. stay with us. ♪

my dad has aor afib.brillation, he has theost common kind.d... ...it's not caused by a heart valve problem.

dad, it says your 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 should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin ateducing the risk of stroke. and unlikearfarin, 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 surgery or a medical or dental procedure. pradaxa can cause serious, somemes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart 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 problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion,

stomach pain, upset, or burning. 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. sometimes they just drop in.obv. cme group cahelp you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances.

tracy: 90 minutes into the close, look at the dow 30 right now. bowling a big winner hitting the 52-week high despite a fuel leak that caused a flight from bangkok to be delayed for 19 hours. nicole petallides still on the floor of the new york stock exchange looking at i a big movr in retail. nicole: coach having a hard time. same-store sales dropped. intense competition bringing it over here to where it trades at the post. 48.75, that is down 7.25%. it has been number one loser in the s&p 500 today. they face intense competition against names like michael kors. when you talk about over the last year, coach is an underperformer.

over the last 52 weeks it is down over 13%. you compare that to a name like michael kors, up 40%. so, what is coach missing? the one good piece of news is they have a new creative director and new products coming in but they are not there yet. back to you. ashley: nicole, thank you very much. one of the hal hotly anticipated award shows of the year, the grammys and with a diverse lineup of reformers from the beatles to beyoncé, everybody is predicting this will be perhaps one of the most memorable shows yet. joining me now with his grammy predictions is industry insider and ceo of lava records, jason flom. jason credited with discovering for nominees including the wildly popular katy perry and the new zealand sensation. we love lorde. lorde is amazing.

you say lorde and people get excited. she is 17. you cannot turn on the radio or anything without hearing her. you signed her. >> i was lucky to discover her in november. she was first discoverrd in new zealand when she was 12. saw a tape of her performing at a high school talent show and had the vision back then. she put her music online november last year. two days later made its way from new zealand to me, and i immediately signed her up because i was shocked. ashley: what was about her or her sound? >> and our business it is like magic. you feel it or you don't. you use your instincts and sometimes you get hit. "royals" was on and i went wild. i tried her down on facebook, did not have any other way to get a hold of her.

she had just turned 16 at that time. she responded, and it all progressed from there. her parents and her manager on the phone. i went over to new zealand and saw her perform her very first show. ashley: how far she has come in such a short amount of time. we will talk about the grammys. i want to get to spotify and pandora first. how has a change from traditional radio stations? >> your csi snake shift the industry in the last 10 years. people thought the industry would be out of this mess. the first major industry to be completely wiped out by illegal activity. but the doomsayers have turned out to be way off. the business went through a decline, now it is on a rebound. people that have been investing in the business will be very

smart. ashley: the artists income is a lot less, isn't it? >> you have such a huge audience now. so there is reasons to be bullish about the industry. and there are exciting new artist coming as well. this year's grammy will be a great showcase fo our industry d wonderful the talent we have. ashley: let's get to the grammys. record of the year, who do you like? >> i cannot go against lorde. the fact is it really is a moment in time, i would not read against lorde. ashley: what about daft punk "get lucky"? >> only one can win, but there are great candidates. ashley: album of the year.

>> i'm going to predict kendrick lamar. incredible new talents, and wonderful album. ashley: best new artist. macklemore perhaps? >> i would say it has to be macklemore. he has turned the industry upside down. he has an important message. he is really a unique talent, very diy. a very amazing story for our business. ashley: look forward to watching it this weekend. who should we be aware of next that will be the next lorde? >> this year i'm going to predict right now a girl named jetta. she is an artist to watch. she is on itunes now and i'm putting my bed in for next year's artist of the year. new artist of the year.

ashley: thank you for being here, jason flom. appreciate it. tracy: some breaking news now. oil closing up $1.76. aa $96.73 per barrel. today's close as a gain of over 1.5% for crude. it is time for your "tech minute." shares of apple seeing a nice pop today after carl icahn tweeted his investment in apple has crossed the $3 billion mark. saying since tweeting about our large position in apple on august 13 when the stock was a mere $468 per share, we have kept buying shares of this "no-brainer." he is planning to push again for more share buyyack. apple such report first-quarter earnings on monday. iand new banker in town, t-mobile. a new checking service called mobile money.

available to anyone with a t-mobile phone number. t-mobile retail employees will work like tellers helping customers opening accounts with cash deposits. users will get a visa debit card and can deposit checks with the mobile money app. 42,000 atms will allow free cash withdrawals and users can have t-mobile checks to send it to somebody. shares of t-mobile of 76% in the last year. today it is down a couple of pennies. no advertising for you. facebook rejecting marijuana related ads, the national cannabis industry association says based on the content policy facebook on't allow the organization to promote links to news stories that mention its members. facebook bans ads that promote the sale or use of pods but advocate legalizing it. in all fairness google bans ads for pot even where it is legal.

ashley: i wonder how soon that will change. tracy: exactly. ashley: in west virginia company ordered to disclose everything it spilled when a storage container leaked and contaminated water supply. why it matters next. tracy: looks with your next. donald trump are the ceo of the pga getting into the swing of things live in orlando as we get sick to talk to them next about selling the game of golf and of course we had to talk about the weather because it is so cold here. we will be right back. ♪

[ chicken caws ] [ male announcer ] when your favorite food starts a fight, fight back fast with tums. eartburn relief that neutralizes acid on contact and goes to work in seconds. ♪ tum, tum tum tum tums! if your denture moves, it can irritate your gums. try fixodent plus gum care.

it helps stodenture movement and prevents gum irritation. fixodent. and forget it. >> good afternoon, i'm sandra smith with your fox business brief. target cutting 475 jobs at the corporate headquarters following a week holiday season, the costly data breach the third-largest retailer also says it will not fill 700 open positions. freedom industries the company blamed the chemical spill that contaminated the water supply in west virginia. a 4:00 p.m. eastern deadline to disclose everything that leaks. yesterday freedom acknowledged a second, less toxic chemical with released which released a spill. the new jersey next are the most valuable and beat him. followed by the l.a. lakers, chicago bulls, boston celtics

and the brooklyn nets. that is the latest from the fox business network, giving you the power to prosper.

tracy: the annual pga merchandise show getting underway. an avid golfer, donald trump, their participating in a panel on the state of the golf industry says he sees a great future for the game. donald joins us now along with the ceo of the pga. thank you both for being here. donald, you are on fox and friends often, vocal about the speed of the economy and things not happening in the world. how do you fix that? >> well, there's not much to fix, golf is doing very well. if you have the right location, the right course, but equipment, golf is doing well setting

certain records, certain equipment makers are doing phenomenally well and certain courses are doing really well. it is like anything else if you have the right product, it is fabulous. ashley: let me ask you, what they hear a lot about the pga and golf in general is making it more inclusive the ad encouraging more people to take part, more diversity, women, children, minorities, how is golf doing on that front? >> we are here to serve the 27,000 members and growth the game. their programs we believe in that we have. the pga junior golf league which is building off of the little league motto in baseball to get kids involved in the game at a team level which has had succe success.

tracy: there is a cause and time commitment. we're coming out of a recession, people are tight on cash, how do you get past that? >> you've mentioned it with time. there's a time commitment with golf. what the pga of america is trying to do, we are trying to a golf experience. you don't need to play 18 holes or even nine holes. if you have 30 minutes, we want a golf experience for you. if you have an hour, we need to create a golf experience for you. this listening to the consumer and people spend their free time in 60 minutes, 90 minutes, 120 minute segments and golf has respond to that remain relevant. ashley: donald come a lot of people watch professional golf, they love sitting down on a sunday afternoon for the tournament but they don't actually play. how can you get those people to engage in the game rather than just watching it? >> well, we're talking to a

great business network. i can say as a business network, one of the best things i've ever done was golf. i've made some of my best deals, consider straight and honestly, on a golf course. i've made some of my best relationships on a golf course. that carries over to business. many, many great deals are made on the golf course. golf is fun, entertaining, sport, but also a great business tool. tracy: hey, pete, does the equipment help these days? there are some really cool things out there. i cannot hit a golf ball across the set here, so i am not the we talking equipment, but my understanding is there are some great stuff out there. is that helping people get out there thinking they have a little bit of an edge? >> absolutely. when you walk around the pga show, using the 41,000 people that we will have and the thousands of exhibitors, the

technology golf has on its side right now with equipment and the golf clubs or the golf ball, it has made the game easier and a the game more accessible and the game more fun. that is critical. these next days our celebration of the technology of golf in addition to other elements of the game. ashley: look, we have had all sorts of fun and games for chris christie, does this pique your interest more for perhaps a run for the white house in 2016? >> the country isn't doing well. i hope it all works out, it is a very, very troublesome time for crispy and we will see what happens, and i hope it all works out well for him. we will see what happens. we have a very important elections coming up in novembe november 2014. we will see what happens there. after that i will make a decision and i'm sure a lot of other people will also. tracy: i am sure you will still be able to play loads and loads

of golf even if you are in the white house, sir. peter bevacqua, donald trump, thank you very much. we are channeling the heat from florida as we speak. thank you. >> thank you very much. tracy: yes, i can feel it, i am channeling it. leave it or not from golf to baseball. the new york yankees signed surprise japanese pitcher masahiro tanaka 2a, wait for it, $155 million, seven-year contract. this is the moment i ask myself why i don't play baseball. the fifth-largest steel for a picture in history. the yankees must pay a $20 million fee to masahiro tanaka's japanese team. he cap enoug nasi vessel yankeed ellsbury, mccann and others. totaling $438 million. quite a payroll. that just means the price for a

seat in the stadium will be a cool million dollars. ashley: a little after a quarter until the hour. let's get a look at the stocks, let's go back down to the new york stock exchange. jonathan was starting to ramp up into the earnings season, the market very topsy-turvy. can we expect more of the same? >> i think so. looking at earnings season historically over time, it is somewhat of a billy to the market. it seems now in the early stage of earnings season, there is that apprehension of the numbers we are getting and the outlook moving forward. we have seen that as a way the market has shifted up and down, day in and day out. it seems the market wants to move higher, we just don't have the energy behind it. the economic calendar is very short, so heading further into earnings season, we will need some pretty robust numbers to move the market higher. it will be the outlook moving

forward investors should focus on. ashley: thank you very much, we appreciate it. >> thank you, serbian ashley: they protest too much. dennis kneale on why amazon's report it is about to take on cable is not exactly accurate. tracy: as we head out to break, dow down 47 points right now. take a look at some of the winners on the nasdaq as we head out to break. don't go anywhere. ♪ [ male announcer ] wt kind of energy is so abundant, it can help provide the power for all th natural gas. ♪ more than ever before, america's ectricity is generated by it. exnmobil uses advanced visualization and drilling technologies to produce natural gas... poweri our lives... while reducing issions by up to 60%. energy lives here ♪

cozy or cool? "meow" or "woof"? everhing the way you want it ... until boom, it's bedtime! and your mattress a battleground of thwarted desire. enter the sleep number bed. designed to let couple sleep together in individualized comfort. he's a softy his sleep number setting is 35. you're the rock, at . and as your needs change er time you can adjust your bed to sleep better together. 48-month financing available through february 2 only at your local sleep mber store. find your sleep number setting and know better sleep.

ashley: it is a clash of the truth between two mighty media titans. dennis kneale is here with more.

dennis: who are you going to believe, a "wall street journal" says amazon is in talks with three media giant to start a pay-tapay-tv service. they say we are investing a lot in video but no live channels and no paid tv. but something is going on here. the "wall street journal" can't be that wrong. it is a free service right now, so maybe it stays that way and hence the denial of doing pay-tv is true and live channels licensing the shows on those channels and will show them in a steady stream. look at reo. they zap them out due to the antennas of receivers. may be a dvr delay. amazon working on a roku style box. it has "alpha house" featuring john goodman.

so, amazon has got to be doing something in video, and if it does, netflix has the most to lose. for amazon it is a way to sell more other stuff but for netflix video is its lifeblood. amazon could crush netflix. netflix holders are hoping it doesn't. these denials often are so specific, nfl flatly denied without doing some thursday night doubleheader. they said it is half of the game already on. it is a thursday night package for being truthful, but being a little misleading. tracy: truth in every rumor, dennis. dennis: at least when you're in the media. tracy: coming up on ""ountdown to the closing bell," liz claman still in davos, switzerland. we will now hear from the ceo of

hilton worldwide to see what life is like for newly publicly traded company. a first on fox business. also, she had the president and ceo of aircraft and train maker. we will ask about the booming aerospace company it plans to ride to great profitability. that is straight ahead. don't go anywhere. [ me announcer ] is 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. ♪ this magic momt iis 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 stories. that began much the same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪ ♪ this magic moment (voseeker of the sublime.ro. you can separate runway diculousness...

from fashionhat flies off the shelves. and you...rent from national. because only national lets you choose any car in the aisle... and go. and only national isanked highest in car renl customer satisction by j.d. power. (natalie) ooooh, iike your style. (vo) so do we, business pro. so do we. go national. go like pro. open to innovation. open to ambition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and ows more businesses... we'ropen to it. start a tax-free business at startup-ny.com. became big business overnight? ♪ like, really big... then expanded?

♪ or their new product tanked? ♪ or not? what if they embrace new technology instd? ♪ imagine a company's future with the fute of trading. company profile. a research tool on thinkorswim. from td ameritrade. >> coming to you from the swiss alps. from the world economic forum. good afternoon, everyone. i am liz claman. we will be speaking with the indiscreet titans who are trying to solve the worlds problems. coming up we will have a big conversation.

and planes and trains. he is a networking machine here. and actors goldie hawn and i take a stroll among the ceos to talk about what is going on. you can't miss it. back here in new york, disappointing earnings report. will netflix and ebay calm the nerves? we will tell you what to look out for. "countdown to the closing bell" starts right now ♪ ♪ >> hello, everyone. i am cheryl casone me. the dow jones is in the red