tv MONEY With Melissa Francis FOX Business February 11, 2014 2:00pm-3:01pm EST
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chair. even when they say it's not it is always about money. melissa: markets is in high gear right now as new fed chair janet yellen made her first public appearance before the house financial services committee led by congressman jeb hens lar link. the -- hensarling. the investors are responding. we're starting with senior economist michelle girard. we have my favorite harvard professor, marti feldstein. two of my very favorites, i can barely take it! michelle, you're so money, glad you could join us at 2:00 p.m. what did you think of what you heard so far today from janet yellen? >> i don't think we heard anything unexpected. everybody talked about how it is really continuity. what she brings to the fed in the wake of chairman bernanke and i think we heard that message coming through loud and
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clear. we're going to see more of the same. we are going to continue to see a scaling back of these quantitative purchases. i think that was clear. she didn't back away from any of that even though we've seen some weaker data but she did absolutely reinforce the economy needs to be doing better. unemployment still need to come down and that's why they continue think we're going to see or continue to signal we're going to see lower rates for a long time. melissa: what would you put on her list as number one of things to do? what would you like to see her do. >> her number one priority is unemployment rate to get down, even though they have a dual mandate but i think that is priority. i personally would like to see the fed get out of the market's way which they're doing as they scale back on the quantitative purchases but eventually i would like to see more focus extricating themself from all this accommodation. i think it is very worrisome we're talking about interest
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rates staying so low for so long in the face of better growth and declining unemployment rate. melissa: why do you think it is dangerous? >> ultimately i can not believe there won't be some cost to all of this accommodation. we're talking about the unemployment rate staying at zero effectively, even as we get closer and closer to full employment. i'm not quite as convinced that the labor market isn't as tight as the unemployment rate suggests. so i'm worried that all this accommodation, the fed will once again overstayed their welcome. we don't know it now but five years from now we'll deal with fallout from all of this. melissa: like what? you're not alone in that camp. a lot of people are worried. what exactly would that fallout be? >> melissa, that is going to be so true. maybe inflation or maybe higher reported inflation than the ppi or the cpi and the pce deflator will come through but it just doesn't feel like that anymore. it has been asset prices.
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stock market bubble. the housing market bubble. maybe this time there are going to be bigger problems associated with emerging market that is we're caught up in, benefited initially from this accommodation and are now in turmoil. it is very hard. that is the question we all have. what will be the point that, you know, how will it show itself in a negative way? and again, clearly would be some sort of a asset price inflation you would think. but it is hard to pinpoint exactly what. melissa: everyone says we're not seeing that. we're seeing recovery in housing. not so much of a bubble. i'm not worried because we're not seeing it yet. so many folks in your camp say we haven't seen it yet doesn't mean we won't pay the piper in five years. interesting what you said about get out of the market's way. so many people think the fed has been propping up the market all this time. >> i'm not so sure it is about the equity market and stock prices. i think that is a fundamental reason why equities have done better but i think in general there is a lot of fed
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accommodation help toddies tort prices in some sectors of the market and i do think to some extent a comfort level in the marketplace because they sort of feel like the fed will bail them out. if things go badly, this fed has not shown any kind of stomach for big drops in the stock market or big moves any sector indicators. they seem to rush in to try to, try to smooth all over. ultimately you can only do it for so long. this is activist fed. ichy chairman yellen will be very activist chairwoman but i worry about ultimately, i'm not sure that in the long run that is in the best interests of the market. melissa: michelle, you are so money. welcome to 2:00 p.m. >> definitely. melissa: thank you. all right it is time to turn now to renowned economist marty feldstein. professor feldstein, welcome to the show. >> good to be with you again. melissa: what did you think about what you heard today and what would you like to see janet yellen do? >> well i think she delivered
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just the same message that the fed has been doing, after previous fomc meetings. so it was very reassuring to the market and to others there is no bankrupt change and she made it clear she intends to continue the process that she's been a part of as vice chairman. melissa: professor feldstein, you heard michelle say that she's concerned down the line that there are problems coming. maybe five years from now we see negative fallout from all of this easy money. do you share that fear? what do you think that, that could be? >> yes i very much do. that's why i have been calling for the tapering to the end of the bond buying. i'm glad to see they're on track to keep doing that because i think it's, not only is it potential for puffing up certain asset prices, equity markets, rose 30% last year because of the interest rate was very, very
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low. surprisingly when the interest rate started back up, at least until january, we didn't see any negative reaction in the equity markets. it is more than that. there are land prices. there are investment in emerging market bond and low quality corporate debt. the lending process by banks and by others is extending to weaker creditors, to, to making loans in order to get yield when the yield available on government bond has been artificially depressed. when that number comes back to 4 to 5%, on 10-year treasurys, we could see some very different performance. melissa: do you think that is already baked in? do you think if she begins to taper now we can get out without that kind of consequence? >> i think there are real risks
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of that happening. if the economy slows down as interest rates rise, and both of those are possible, if the economy slows down as interest rates rise, some of those bad loans, some of those high-risk loans being put in place, could go sour. melissa: what do you think about the jobs market right now? what, is there anything that the federal government could be doing to help spur the jobs market? we haven't seen the kind of improvement that is we need. -- improvements that we need. >> i don't think the fed is the place to look for that. when you said federal government, sure, there is a lot could be done in a major fiscal deal, i wish would happen, been writing about but haven't seen happening. that is a combination of short term, major fiscal stimulus, combined with outyear changes in entitlements that lower the debt-to-gdp ratio. therefore giving markets
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confidence that 10 years from now we're going to be looking at debt ratios, more like we had before the economic downturn. melissa: professor feldstein, we're out of time. i wanted to ask you about minimum wage. will you come back soon? >> happy to come back and talk about. >> thank you. up next, a wall street throwdown, charlie gasparino against trading extraordinaire andrew keane. one thing for sure, it will probably get ugly, right? plus the storm clouds are coming. a special sit-down with a new friend of the show, i'm so excited about this, duchess of doom, sarah quinlan is here to tell us what is keeping her awake at night. more "money" coming up. ♪ [ male announcer ] how did edward jones become one of the biggest financial services companies in the country? hey. yours? not anymore. come on in. [ male announc ] by meeting you more tn halfway.
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melissa: stocks across the board on a tear today. jo ling kent at the newsdesk with some winners and some losers. you're watching sears, right? >> that's right. obviously the yellen testimony has a lot to do with the overall rise. all 10 s&p sectors are up. sears, look it is up almost 8%. they introduced a drive up, pickup. you order on lines and park and
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bring goods whether ordering appliances and clothes. stock is doing pretty good. they lost 9% of sales in the last quarter. they're projecting about 200, or $360 million loss in the current quarter. let's look at webmd. that stock is down 7.2%. bad guidance, negative guidance coming out. fourth quarter earnings are supposed to be above analyst estimates but bookings year-to-date are actually down. they have had conservative fiscal year '14 guidance. there is an issue of visibility for the web platform. the stock is not doing too well, down 6.6%. last but not least, irobot. they're watch up about 15%. they hit all-time high. the patent board gave them a spot near the top of the list. they some best, most competitive patents and beaa out samsung and
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panasonic as well. so some good news there for irobot. they have actually 238 u.s. patents, more than 400 worldwide patents in the electronics competitive. so three stocks for you to watch, melissa. melissa: jo, thanks so much. >> anytime. melissa: twitter is the talk of the time as shares move higher. we're bringing you a wall street throwdown with our very own charlie gasparino and andrew keane from the cme. you love twitter, right? >> i love twitter. let's face it ace crappy company. melissa: that is not what you said in the break. you use ad different word. no, don't use it. >> trying to get me fired, right? security will never going to catch me. melissa: no. >> i will say this. listen, it is hard to fight the fet fed. it is impossible to fight the fed. when you have janet yellen out there saying she will print money forever which she basically said today, markets like that. the minute you start waning off
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this -- weaning off this fake stuff they're putting out there, then companies and stocks -- melissa: stand on their own two feet. >> stand on their own two feet. if you look at twitter it is a company where the user profile, number of users is going down. that's why it sold off last week. it is doing better with revenues but should do a lot better. quite frankly for the average investor out there you don't need to take the chance of the it is not -- one thing about facebook they proofed themselves, right? they did sooe good stuff, in terms of mobile apps. melissa: well, let's bring andrew in. >> they proved themselves. these guys haven't proved themselves. melissa: andrew, what do you think, have these guys proved themselves? >> i disagree with charlie, 100%. facebook, who goes on facebook anymore? >> people with money go on facebook. melissa: i don't know. i'm on twitter. >> if you look at facebook profile -- melissa: go ahead, andrew. >> they say 30% of everybody on facebook could be fake and be
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robots. they have a big user base. >> that is like twitter. >> if you want news fast, if you want news quickly, the revolutionizing the market here, facebook should put up pictures of your family to see your friends from high school. melissa: okay. >> let's break down exactly. all these people are fake on facebook. if you look at statistics on twitter, no offense, pal, but many, many more people are fake on twitter. most of the users are not even from the u.s. they're from other countries. who knows if they have any disposable income. that is number one. number two, one of the interesting things about facebook's user profile it is older. in the old days someone in their 50s used to be considered a detriment to the demo. melissa: right. >> guess what? under our wonderful president barack obama, when you're 25 to 30, you don't make any money. people that make money right now are in their 50s. melissa: right. >> actually in order to monetize the user profile, they have a better demographic than twitter. i will tell you this, i love twitter as a device.
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they got to do something first before i tell little old ladies to put their money it. melissa: andrew, you want to respond to that? you are getting run over here. >> only thing agree they haven't monetized mobile space. >> how many fake twitter accounts. >> my personal account has 11% are fake. there is app for that. >> 99% of fake followers. melissa: andrew, come on. >> twitter has, found how to take revenue to the next stream. what they have the hardest thing to do, they have users and going on daily base is. >> thank you. >> just like facebook. >> thank you. >> facebook figured out how to monetize it. twitter will figure out how to monetize as well. >> thank you. you just made my point. they haven't figured it out. >> twitter half the user base. they haven't figured it out but have user base and have -- >> you don't know, because some accounts are fake. you really don't know that i will tell you this, average person out there, don't listen to wall street.
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listen to me. they haven't figured it out. when they start figuring it out buy the stock. until then ride the wave with janet yellen. she is going to print money and can by -- >> let andrew back in. go ahead, andrew. >> you're so valid on the point. are you short twitter stock? i'm long twitter through calls. >> i don't invest. i don't invest. i don't own twitter stock. i'm glad that you're long it. talking your book. you should have disclosed that. [both talking at once] >> first twitter. bowling doesn't disclose. this guy. how come he didn't disclose. melissa: putting your money where your mouth is. putting your money where your mouth is. that makes sense to me. >> trade 75 before 35. dinner and drink in new york. melissa: let's do it. can i come? am i in? >> vote for dinner. melissa: i'm in. i'm in. i'm in on bringing him. guys, thanks, charlie, andrew,
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thanks so much. up next, what worries the duchess of doom? sara quinlan is known for her bearish views on the world economy but does she still see dark clouds ahead? don't miss what she has to say about the extreme weather we've been seeing. we're back in drought country. cattle ranchers driven to despair by the worst dry spell in decades. are we looking for a beef shortage? we'll go live to acalifornia cattle ranch. do you ever have too much money or too much charlie gasparino? not possible. welcome back. how is everything?
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duchess of doom here to rain on your fiscal parade. senior vice president, mastercard visor. thanks for coming in studio. share with the audience, charlie was walking out on the last twitter segment. you walked past hill. you had a really good take on that. tell me in a nutshell. >> one of the interesting things when you're doing push ad like twitter is doing, they are looking because they know who you follow. so they can understand are you upper income echelon person or moderate or below. therefore they can raise ad rates of ads promoted to you on twitter. you scan your entire feed. i think that is their economic model. may be slow to actually realized -- melissa: incredibly powerful to get there. they have algorithm who you're following, what words you're using. pitch to the exact personal. that will be worth a lot of money of the great point. i wanted to make sure our audience didn't miss it. let's move on to your doomful predictions. look at housing market because you have a really interesting take on some signals there. >> one of the things we see
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spending pulses, we see the how the consumer is spending across the country. one of the things they're spending on is hardware. that has actually declined year-over-year for the last five months. melissa: interesting. >> when we follow furniture and furnishings people are buying a awful lot of throw pillows and not sofas. you accessorize the home if you're renting than buying a home. furniture sales are negative last two months year-over-year. a little bit contrary to the pricing data. melissa: that is the change, you've seen a dip in it? >> absolutely. melissa: that tells you what? >> we've seen the housing turnover if you add new home sales and existing home sales the last four months. this is absolutely typical because spending behavior really we're seeing mirrors exactly what we see in the housing data. melissa: wow. the weather, you think the weather will have a real negative externality here? >> i think weather is a real challenge anyway. as we like to say, everything is omni channel. not all e-commerce and not all bricks and mortar.
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key number of people who doesn't have ability, internet in the home and the like. we think everybody does. across the country not everybody is wired that way. if they can't get out of their home, i feel so bad for atlanta, if you can't get out of home and ability to purchase online that will affect retail sales. we've seen weather effects january only up 3.5%. melissa: you think that is sincere? it drives me bananas company come out and miss and blames the weather. you can make the most of the weather. can be good or bad one day. you're buying it? >> i'm not buying it. melissa: okay. >> i say one factor in one month. however, clearly we saw over the holiday period e-commerce was up 2.5% according to our statistics in spending pulse. if you have the e-commerce channel, most importantly, for example, department stores have been negative on total retail stores basis but postively growing double digits in e-commerce, so you have the ability to have the omni channel
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you are able to capture sales. it is company specific not necessarily -- melissa: real quick before you go, you had interesting take on travel. what that means. >> what is fascinating we did not see any travel in airlines especially. it was negative, every single month, month after month. last three months we've seen increase and significant increase beyond the price increase of airline tickets which we know are quite expensive right? melissa: right. >> that being said, that is something you plan for two months, three months ahead of time. so we're expecting to see that type of spending increase as well. we know also from our statistics when someone flies they spend double when they do a driving vacation. >> interesting. all right. great stuff there. thank you, will you come back? >> i will. melissa: loving everyone today. all right. real stories from the heart of the drought land. how business owners and farmers are being driven to the brink. we're live from california next. who is making money today. this kid took the world's biggest retailer and made off with a whole pile of cash.
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>> wreaking havoc on california businesses and food prices around the country. rancher kevin kasper is experiencing devastating effects firsthand. demand to sell his entire herd of cattle. he joins me from his ranch in california. thanks for coming on. i understand your family has been in the business since the 1800s. ever seen anything like this? >> no. never had anything come close to this. families have been in business ranging in central california since 1860's 7 and we are by far in the worst drought situation imaginable. the university of california says we are in a 500 year
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drought and the ranch reflects that. melissa: what does that mean to you? i understand you are thinning or heard. is that because of a crisis? how does it play out on your range? >> we are out of water, out of grass, we are forced to purchase hay which is economically and sustainable for ranchers across the country when they have to do that. we are trying to supply water to keep our cattle and see if mother nature blesses us with some rain but the way it looks right now we might be forced to completely self. melissa: cattle prices are booming right now. that seems to fly in the face of this route. i felt there would be a lot of cattle brought to market in fact other people are in your situation so why we see in cattle prices so high? can you benefit from that? >> we could benefit. the trouble is right now this is
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the worst time of year for ranchers in california to market their cattle by the sight that is completely out of lack with our business model for selling. we are going to try to hang on and see if we can capture the high market. the u.s. cow herd has been the slowest since 1951 and that is why prices are still high even though p lot of cattle. melissa: this isn't just a business, it is your passion. your family has been in it forever. how frustrating is the situation to you? >> more than frustrating. is devastating. i have friends and neighbors in the process of liquidating and selling off their cow herds and unfortunately a lot of them probably won't be in business next year. melissa: is there anything anyone can do for you other than pray for rain? >> pray for rain, maybe practice a rain dance. other than that we will see what
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happens in california with mother nature and see what rains come our way. melissa: the show is called money so i have to ask how much money have you lost so far? what has this meant to you? >> so far we extended an extra hundred thousand dollars in our range to keep our cow herd intact and all the genetics we worked so hard to build up over the last 20 years and as we speak we can easily spend tens of thousands if not hundreds of thousands more so we have to make a business decision when to cut our losses and get rid of the cattle and not lose any more money. melissa: we are so sorry and we will do the rain dance in new york. our snow dance is working really well. maybe we could trade you and send the snow in your direction. thanks for coming gone. up next, return of the scanners targeting cellphones and people everywhere are falling for it. don't let these guys get the
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have joined to reform government surveillance in international protest against u.s. government's buying programs, google, microsoft and facebook are among the tech companies surging more surveillance. arctic communications is proposing a full overhaul of time warner cable's bullet as the next step in its hostile takeover bid. time warner rejected charter at $132.50 per share bid last month. the chairman and ceo route marcus says china's move will pressure the board into accepting the same -- those are fighting words. the panel has voted there's not enough evidence to prove naproxen is safer for the heart than other common pain pills like ibuprofen. that is the latest from the fox business network giving you the power to prosper.
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>> market in major rally mode, the dow trading up 190 points new session highs, the s&p up 1% and nasdaq trading higher on the back of janet yellen, good day for traders. nicole petallides on the floor of the stock exchange. what stocks are hitting new highs today. nicole: we are watching these stocks hitting new highs, in some cases all-time record highs. let's look at some movers that are worth working. the dow jones industrials, 16,000 who put disney and merck in that group.
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disney came out with their report for the latest quarter, they did well in every sector so that was good news. merck is working on everything from diabetes to cancer drugs and also won a lawsuit. what i watching closely, all-time high, everyone waiting for house of cards on friday bottom all time high for netflix, walgreen's, watching walgreen's doing better with their latest numbers and prescription drugs which helped the long and burger king, i was just watching the story with that ranger and thinking about the beaks and watching burger king is the name and that was doing well today hitting a new all-time high for burger king as well and today, also launching a new sandwich. maybe will be interested, the introduction of the big king sandwich made with a quarter pound of 100% beef for $3.69. everything is about money. melissa: and about cheeseburgers so i am totally down with that.
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from the u.s. to every corner of the global money has been flying around the globe. starting in italy where battle former prime minister silvio burlesque tony -- sylvio berlusconni gave to a lawmaker, allegedly using $3 million to ensure a member of the opposition switched over to sylvio berlusconni's people of freedom party leading to the collapse of the government coalition and helped him win the election in 2008. that senator now admits he took a bribe. it is not looking so good. over to me and mark, i thought it was burma, investing one billion dollars in boeing aircraft to revamp its aging national carrier. me and mark air is working with ge in upgrading its surface to various international destinations. the airline currently overflights one place overseas in india. something tells me we will see a lot more of that airline in
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coming years. landing in the u.k. where intense flooding across the country is leavvng a huge cleanup bill in the wake. the cost of clearing up the debris and repairing damage could top $1.6 billion. rain continues to bear down on parts of the country with flowing rivers now reaching the outskirts of london. some experts fear the weather could continue into march. and icebergs hits the fast-food industry and it is -- now you can get your green that at -- you will hear about this new business and its rapid expansion.
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melissa: big day for investors. markets as session highs, dow up 240 points. look at gold trading higher. obviously some investors looking for a safe haven listening to janet yellen knowing there will be a lot of printing. i want to show you oil real quick how it is trading on the day, down just slightly, just below triple digits. be so cheap daily disasters continue, the athletes are all there. what about the spectators? some are seen less than 50% attendance and not because tickets are selling. 80% of total tickets have been sold. spectators just aren't showing up and. athletes aren't catching any breaks either. snowboarding starred the latest jump on the sochi bandwagon after missing his chance at the last olympics due to injury.
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the snowboarding stop slamming at the winter games calling it, quote, garbage. a showcase of snowboarding, charlie gasparino can't wait to see what goes down tonight. ring the alarm, there's a new cellphone fraud scheme that could end up costing you big time. how to protect yourself with financial expert ryan mack. this one is insane. i have been hit for it by myself. we are hearing from the federal protection bureau that a lot of people are being hit, thousands of they call you at paying you up and who was that? i don't recognize the call? >> the basic instinct of humans who call individuals back and call in the middle of the night, 3:00 in the morning so you get this call from 268, i am from detroit, 248 and call back and you hear this music on the other line. >> your sitting there on hold.
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you can i understand charge $19.95 -- from the better business bureau -- for international call out of the gate and $9 a minute when you are sitting on hold. >> they have this rowboat call, they steal information and put them into a machine and people are getting cold, one call and did you pick up when they answer it, they will hang up right away because the idea is to make you miss the call and make you call back so they can start charging you. melissa: 2:00 in the morning i heard the phone rang and got up and answered, i have family, afraid there is an emergency, missed it, i see the number, luckily i paused and said wait a second. >> this is the new day of technology, the more dance the more individuals tapped in to find out new ways to get into our pocketbook and that could be as simple as calling back and getting the number and charging
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you for calling back. a lot of countries have 3 digit area code so it may look like someone calling from the u.s. but after someone on the other side getting your money. melissa: any way to block the calls? it is pretty irritating. >> apple has a way to block this number but you have to know the number, do not call, you can insert numbers. me personally i don't tend to the phone call unless i actually know the number. that is another way to take on because if they don't recognize the number and left a voicemail message must not have been that important especially with only one ring. melissa: thanks so much. want to show you the markets because we are back in session highs. this is an across-the-board rally, we are up 210 points, about 3-1/3% really rallying into the close. liz claman will have a lot more at 3:00 p.m. in the final and most important hour of the trading day but you can see buyers in control right now in the markets.
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time for a little fun with spare change. we spend it on junk food and vending machines. now in the chicago area, a much healthier alternative salad vending machines brand new, joining me is the founder of farmers fridge, luke saunders. how is this possible? talk about the mechanics of this. will be old and saudi or other big mess. >> everything is perfectly layered, we keep the ingredients like tomatoes on the bottom keeps everything fresh. we keep everything every morning. melissa: i am sure there's a picture we can show the audience. talk to me about this picture, grass leading to the front of the machine looks expensive. how much does it cost to install the machine? >> it is not a vending machine, a custom machine we build.
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economics do make sense. melissa: what do you mean economic make sense. how much does it cost to install one? someone on the show putting vending machines out said it cost $5,000 to get one up and running. they are very different but can make as little as $30 a week but margin on that is really good. how does that compare to what you are doing? >> we are different from the traditional vending machine business. their model is to make a 90% profit on a candy bar and ours is install something for $8 with the food industry margin and the machine we are putting in place than a vending machine. melissa: i understand you start discounting at 6:00 when things delaware. at an end of the day whatever is left over is donated. why put salad in a vending machine at all? >> the idea was to have a more distributive healthy food network. i was traveling to work and realized it was really hard to set up a full-scale healthy food
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restaurant where demand wasn't there but there were people who wanted this option so we decided if we could put it into the machine and the food is fractures and what you get from a salad bar because it is in the jars, is temperature controlled the whole time and sealed from oxygens a lot of what makes less wealth is the air that is getting in. people playing with it, more sanitary, it is a better option for buying your food. melissa: you are putting one out every day starting tomorrow. how many orders? >> what we had done. we proved the model, got people to buy food out of this crazy vending machine and to contract for 20 locations the setting up one day starting tomorrow and from there we catch our breath and see how the model is working as we scale land from there it becomes a national brand. melissa: good luck to you. up next to is making money today, managing to dupe the
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biggest retailer three times before getting noticed. wait till you hear how much money he got away with because you can never have too much money. and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex.
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>> whether on wall street remain street, anyone with a piece of j.c. penney shares of the embattled retailer on the rise today the company is releasing more and more positive data including the jump in revenue over the holiday period. that suggests customers may be returning to a storm. shares surging around 5%. ron johnson is still a big shareholder down 900,000 shares of the company, meaning he made $250,000 so far today. we will see that goes any higher. and new game, google chairman eric schmidt reports say 22 million bucks on a new mansion.ia home by the playboy the 7 bed room chateau is one of
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the most sought after st. los angeles. just across the street from the world famous bachelor pad, grounds will have expensive parklike views. something tells me he is not there for the peace and quiet and losing money, walmart after a seven-year-old employee scams the retail giant out of $40,000. the teenager had recently been fired from his usual wal-mart store and went to another nearby store and offered to help out during a busy spell. he worked the register for six hours pocketing all of the cash that he took in. that was $3,000. to managers alert the police that the team came back a month later and found himself working from the store's cash from unrecognized. palace that possible? he stuffs his pants with another $36,000 in the behind the manager on the way out the door. was arrested. the money, long gone.
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oh my. shares of con agra taking a dive after they cut its full-year outlook. it was the end for slim jims. the co-founder and fox news contributor jonas mcnamara and liz claman getting ready for the hour of trading on this day that is on fire. let me start with you. what do you think of the market? a buyer today. >> a lot of people bailed out. i don't think it is these retail investors, we are not getting a lot of times to buy on the cheek and took advantage of it. melissa: let me ask about con agra. jetblue it, slim jim, are these helpful? >> did grow up with beefaghetti but con agra is morison's these names and is a big conglomerate of the food-service industry
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where names like kraft and hines have done very well. possibly because there has been so much consolidation or behavior in all of these with the private equity guide. not sure you can call this one either way. melissa: we had a big twitter throw down. charlie gasparino, you went against him before. >> it is an expensive company that was priced like it is guaranteed not to be a fad and risky for investors but it is a great company. melissa: i got to clarify. you love to use twitter but you think is a bad investment because there's not much to invest. there was a really good point, we sit and search things and followed the plane use words and their algorithms and figured out who we are so when they pitch us adds they sell them at an expensive rate because they know who i am and they send me a tweet and i care about it. that has to be of value over
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time. >> there is value in the traffic. that is not of maybe business model. didn't know if you could monetize the traffic. we don't know if twitter will have as much traffic or keep growing. that is the danger. to keep the traffic growth no question you will make money off of that. melissa: you want to see what the smart money is doing. jeff green is an investor. he started shorting twitter around december where he said how did a company that was $5 billion in market cap before it went public become $40 billion? eventually it will make money but he doesn't know when. >> you hit a new high today. it is supple little bit right now. melissa: china is saying we will give you subsidy, a to $9,900 and they announced they really want to own this space so if you want another $9,900 you have to go buy it in china.
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that is the issue but the stock of that news. another 52 week high, it is up 400% year over year so it is a winner and all the naysayers have gone slammed. liz: do you like to as low? >> will cover the leather package. i love the company but you have to wait for a fire to get it cheap. you need any event to happen, 30%, too expensive. liz: thanks a lot. what is coming up a 3? liz: got to give janet yellen some credit for this and we bring in the stock guru and professor jeremy siegel, he has accurately called double markets and bear markets and we ask what does what she said mean for this coming year in stocks. bernard: hope you guys invest. he is truly one of the smartest out there. melissa: most important power of the trading day left.
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hope you mmde money today. tune in tomorrow to find out what is going on with those credit cards. everyone is talking about after all the cyberbreeches and caroline will tell us how soon you will be carrying your master car around and 2:00 p.m.. "countdown to the closing bell" with liz starts right now. >> janet yellen makes congressional debut as that chair with that message of steady as she goes for monetary policy. how do use the investor play the fed. x stock-market guru jeremy siegel accurately predicted last year's equity rally makes the call on fox business. tesla stock get to supercharge boost from china when ceo elon musk continues his electrifying investors or rival bmw, take some of the voltage out of tears. we have a bull bear debate. g
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