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tv   MONEY With Melissa Francis  FOX Business  February 14, 2014 2:00pm-3:01pm EST

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melissa: i hope there are a few pieces left. you got it all out, huh? ashley: what is coming up on "money," melissa? melissa: we are chock-full today. canada turning away foreign millionaires and signature wall street throwdown. in between we have the governor of north dakota on his jobs boom. plus exclusive with legendary analyst dick bove because when they say it's not it is always about "money." melissa: all right. let's kick it off with a quick stock check. jo ling kent at the newsdesk. what are you following. >> underarmor down 2%. being blamed according to "wall street journal" creating drag for u.s. olympic team in speed kate skating. according to several sources in "the wall street journal" could be a training issue. could be the other teams are getting better and u.s. team walks away with no medals.
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under armour down 2% on this discussion. take a look at weight watchers. they're plunging 20 6%. that is new low -- 26%. this is forecasting profit that missed expectations. weight watchers is having a hard time competing. there are free fitness apps and nutrition apps out there and getting weight watchers to attract, younger more millennial types to pay for services is become increasingly difficult. they are plunging on some tough outlook news. 26% down. last but not least, 3-d systems up 4%. they link ad deal with hasbro to get into the digital play space. that is opens them up ffr 3-d printing for hasbro toys. that is interesting for them. back to you. melissa: the dow right now up 116 points. jo, thanks so much. >> yeah, thanks. melissa: from money moving in the markets to cash snubbed by our neighbors to the north, canada turning away 50,000 chinese millionaires, turning
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them away. revoking policy to let wealthy immigrants buying their way into permanent residency. businesses benefiting from the influx are not happy. we have many so one from vancouver. welcome to the show. the canadian government says they are turning them away they're not investing in canada and don't actually live there you sell real estate on the ground. tell us what is happening? >> what you're seeing a lot of people coming from china, high net worth individuals, basically moving here, buying homes. a lot of these people are settling but there is a concern some of these people are settling, leaving wives and families here and then the husband is heading back to asia to do business and not necessarily investing as much as people want or as much as government wants here in vancouver and here in canada. melissa: i guess but isn't that still worthwhile? they're still buying homes and leave entire family behind, those folks are there shopping and going out to eat and ostensibly have a lot of money to spend, no?
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>> agreed. i'm not a fan of this change, absolutely not. if i was prime minister i certainly wouldn't do this but you know, i'm not in charge so you know that is the way things go. from a professional perspective for me and my colleagues and those invvlved in real estate market this is not a popular change and we don't see it as a posittve thing at all. melissa: what does it mean to your business? >> i think for property that is are over $2 million mark you will see things soften a little it about. i don't think it will be the end of the world because there is still a lot of demand for property here in vancouver from people overseas and also from locals..3 vancouver is bit unique in north america, not unlike places like san francisco and new york where you have geographic, geographic limitations on sprawl. so you just basically, you can't buildout. so you have to build up. what that does is pushes prices up. there is still a lot of demand in this market. not a great thing. not a good thing but it is not the end of the world. melissa: i read 11% of new immigrants to canada were chinese.
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and you know, some of the reports say they move into town and just to get the green card and then they're gone. they're not even leaving families behind. theecommunities they move into are more like ghost towns? is that not true? because that is one of the reports i read? >> not necessarily. i wouldn't necessarily say it's a ghost town of the there are a lot of people who of course get a passport and don't spend as much time here as the government would like but that is not that common. and yeah, there are a lot of people coming from china. a lot of people with, you know, a lot of high net worth individual who are coming here but you know, canadian passport is great thing to have and a lot of people want it. melissa: absolutely. mike, good luck to you. >> pleasure is mind and thank you. have a great day. melissa: let's turn to my favorite professor, charles lipscomb. a economics expert at university of chicago. so glad you can join us here and make the move to 2:00. >> great to see you. happy valentine's day. melissa: happy valentines.
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what do you think about this in canada? you have a net worth of $1.5 million more and willing to lend the government half of that amount for five years, with no interest payments, you're giving it to them for five years, that you could have a green card. they suddenly decided this wasn't a good idea, even though they had a huge backlog of people that were flocking, visas in the works, they suddenly slammed door on this. what do you think about that? >> the right way to look at it, if they slam the door on we're open to just millionaires and changed it to we're open to startup entrepreneurs, from abroad. so not as if they're actually trying to diminish immigration. they just want to shift from people bringing in lump sum and giving it for a short period of time to the government, to people who coming in, as they do to silicon valley, to actually start up businesses and it is
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important to note that canada is really building a great startup culture now. vancouver is one of the location. melissa: really? they're success if you recall at this? you pointed out billboard in canada, pivot to canada. are you having trouble with h1b visas which are workers with high-tech specsty training. are you having trouble getting people. come to canada and we'll support you. they have the immigrant investment capital fund. >> that's right. melissa: they want you to come in and invest the money rather than loaning it to the government. does that make a difference? >> right. i think it does. it doesn't explain why you couldn't have both programs for example. melissa: right. >> but the, the idea, you would, as you might expect, vancouver is a very convenient place especially, you know for people who are in san francisco and so forth. so it is a lot cheaper, as austin, texas is cheaper.
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that is becoming a big venture startup place. in fact my son is working there now in a kind of startup. and toronto, montreal. but the place you might not expect in canada is waterloo because it has a great engineering program at a very fine university at waterloo and just as, silicon valley built off of the engineering program at stanford, that is what is happening around waterloo. melissa: interesting. a lot of people don't know america has similar program, eb-5 i believe it is called. if you come to the country and invest half a million dollars you can have a green card as well. interesting. charles, thanks for coming on. hope to see you back soon. >> my pleasure. melissa: california's widespread drought is setting record and hittings farmers, ranchers and consumers. president obama is in california addressing the issue. fox's will carr is live in fresno, california with the latest. >> reporter: hi, there. the president is coming here
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ratelater today to talk to ranchers and farmers how big of an impact this drought really had. for the ranchers and farmers we've spoken to today they tell us it is about as bad as it can get. if they don't get help soon it could potentially cripple the $45 billion agricultural industry. around here the lance are bear rin. they can't buy much hay and forcing them to sell all or part of their cattle. we spoke to farmers that share the same sense of emergency. they tell us they're not growing certain crops and many are going into survival mode. they tell us they will intently listen to the president's message later today. he is anticipated to announce $200 million in aid. he is potentially expected to politicize the issue by linking the drought to climate change. back to you. melissa: oh, boy. thanks so much. up next, prepare for a throwdown. two very opposing views on one of the biggest deals of the
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year. one of our next guests thinks time warner cable takeover is horrible for americans every war! >> we're heading to the flicker tail state, did you know that is what it is called, north dakota the flick irtail state is best run and the governor will reveal his secrets of success. more "money" coming up. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪
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melissa: seems to be one disaster or another on daily basis out of sochi olympics. here is one of the latest. a swedish skier caught with his pants down literally. but he doesn't care, says keeping his pants way below his waist is part of his style. doesn't seem to help his game. he bottomed out at the end of his slope as his pants fell to his knees during the race, ended up taking 6th place. of the while the u.s. swept medals. go usa i best you need pants of a all. all about winners and losers in the market. the talk is over who is on top in comcast's 45 billion-dollar
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acquisition of time warner cable. it calls for a money-style wall street throwdown. putting chatwood friends, jared levy against jonathan hoenig from capitalist pig. he is also a fox news contributor. jonathan, let me start with you. who is the biggest loser here. >> bottom line it is the american people it is two kind of mediocre companies coming together. they will have 30 million customers after the deal is done. reality they will be going away anyway. 10 years pro now these guys will be pipeline suppliers. it is consumer now will be probably moving or have to move to ivers or dish or one of those other carriers. again, i think the deal is sort of, it is middle confident road for me but i think -- melissa: keep going to apple tv and to netflix and all the places they're going anyway, jonathan? >> that is the whole point. this is a great deal, melissa. trade, any trade is productive. it will make these companies which are troubled and whole industry is under a lot of competition. it will make them more
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efficient, more productive, more innovative. certainly benefits companies and shareholders and benefits consumers as well. to your point, this is tremendously difficult in the competitive landscape for media companies right now. but the consumer is actually a big beneficiary. itunes, youtube, they have had so much choice at low cost. melissa: what about that jared? he makes a lot of sense. >> here is the argument, right it will bring another cable company in the dallas market, new york markets, chicago markets, right. now the consumer is in conundrum. do i switch over fee fios and ivers? they are literally dropping leaflets switching from time warner. >> what are you talking about about? that is fantastic. it's a pain in the neck to get a better deal, getting something more for less money? what a horrible pain in the neck! >> the problem is having to
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switch and go through the process. a lot of people don't unfortunately stand the gimmicks. here is one for you. when you switch over to directv they lock you into a price. have to stay with the contract i'm sorry for two years but price only a year. >> but they're competing for your business. melissa, exactly to your point. when government gets involved i think that is one of the risks of this deal you could see antitrust regulators get in and try to change this deal somehow but it is consumers that are always the benefit when industries consolidate. go back to steel and go back to alcoa got sued by the government in 1940s. microsoft, airlines. when you allow companies to merge and become more efficient and prices come down. that is what you will continue to see in entertainment. melissa: well, i mean the real question what are any of these guys going to do? talk to a young person today, as soon as they set up a apartment doesn't get cable any longer. doesn't matter when we're talking about comcast or time warner cable. they get apple tv and netflix.
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why would i bother? that is the real problem. how will they overcome that, jared? >> i think it is, here's the thing, like i said in the beginning, i think cable companies will be pipelines, conduits for information. companies like skyworks will benefit. why? because they're building huge or helping to build the infrastructure, wireless and data structure in the u.s. both time warner and comcast i don't think their stocks you want to own for the long term. melissa: is this something you would buy? >> disney is at a new 52-week high, melissa. that is certainly on my list. industries change. we don't have pullman porters anymore. we don't haae elevators operators. to jared's report we might not have cable companies as we currently do but consumer in free market is always a beneficiary. i think that is the big story from this historic merger. melissa: gentlemen, thanks to both of you. have a great weekend. happy valentine's day. >> thank you. melissa: coming up,ing here is a tasty fact, north dakota produces enough beef to make 113
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hamburgers a year. hmmm, hamburgers. even more impressive it is the top state for job creation in five years in a row. they are doing something right over there. don't miss my interview with the state's governor coming up next. bold call on taxes. some say they could kill off the 1%. who better to find out about this than steve forbes. he is here. do you ever have too much money?
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melissa: all right. take a look at markets right here, we're having a good day out there. the bulls firmly in control. the dow is up 130 points, .8 of
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a%. the s&p 500 up 10 points and nasdaq up six points. a good day for the bulls on valentine's day. a huge national dialogue going on about jobs. how can we create more? we have just the person to tell us. his state has been the top for jobs creation for five years in a row. joining me on the phone with the secrets of his success, the governor of north dakota, jack dalrymple. thanks for joining us. >> happy to do it, melissa. melissa: fifth year in a row you're sitting at the top. unemployment rate is 2.7%. your jobs market is so tight we keep hearing stories of $300 signing bonuses for folks at mcdonald's and fast-food restaurants. gas station attendants make $50,000 a year. is your job market too tight? >> well we could use more work for us every day. there are people coming to north dakota to help us fill jobs.
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but that's the way we like to have it. our unemployment rate is the lowest in the nation at 2.7%. melissa: you're blessed from a lost natural resources. a lot comes from bakken shale and natural gas and fossil fuel creation but at the same time there are other states that are blessed with the same resources and don't take advantage of it. what advice would you give to other states who need more jobs. >> we've been working on this with john hoeven and and i when i tack r took over the governor's office. it's a long-term proposition. tough create a friendly business climate. you have got to lower your taxes you have got to have reasonable regulation. probably most important of all you really need to develop your workforce weedcation he is and training. and we think we have all the ingredients and it is a
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diversified business base. melissa: you say you have to lower your taxes. do you feel like through lowering your taxes and attracting business you're actually generating more revenue for your state? >> well there is no question that as we have lowered taxes our revenues have increased. we are finding that we have a tremendous response not only from business but from individuals and we're lowering property taxes as well as income taxes. and we, we have not seen any drop-off in revenue. in fact, it keeps growing. melissa: but you know there are problems that go alongwith booming so quickly. one is a housing affordability crisis. i read from the u.s. department of housing and urban development you saw a 200% jump in your homelessness last year because houses are more expensive. how do you deal with that kind of a problem? >> well, you know, homelessness is an ongoing challenge and the
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statistic is skewed a bit because, you know, as people live together, they can sometimes be classified as homeless but what we are doing is, madly, rapidly expanding our housing. we have the fastest-growing housing rate last year of all 50 states. and, you know, it really is just a matter of getting more and more buildings built and we have a state affordable housing program that has been very successful. melissa: you know, a lot of states like yourself have specialized needs. you know, you have needs to train workers, to go into the energy industry but in other states they're looking for people with engineering background, science background. how do you get business to partner with government to train the population to do the jobs they need? has it been a partnership in your state? >> very much so. you know it is not just about energy and agriculture. our technology sector is doing
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extremely well as is advanced manufacturing because we have partnered with industry and we have what we call centers of excellence where we actually established joint ventures with businesses to develop college students and bring them right into their companies. melissa: no, that does seem to be the key. thank you so much for coming on, governor. we appreciate it. congratulations creating most jobs, the fifth year in a row. >> we're very proud of it. melissa: good for you. steve forbes up next on the death to of the 1%. he is here to talk about regulation that is could hurt the rich. are the rich really at risk here? don't miss one-on-one with the legend dick bove. you can't miss his controversial view on new fed chair janet yellen. i give you a hint. he is not terribly fond of her.
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"piles of money" coming right up.
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each market's having a good day but let's look at gold rallying along with stocks. you see from trading at 1.5% on the day, 1.4%, 13-1860 the last trade. the war is on targeting the top 1% venture capitalist tom perkins taking on the taxes, very bold call. >> wealth tax, higher taxes, higher debt taxes, more taxes until there is no more 1% and that will creep down to the 5% and then the 10%. >> here's steve forbes, chairman of forbes media. interesting, tom perkins, he is living in the middle of the
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liberal bashing of the san francisco peninsula. at the same time he set a lot of very anti-government, anti-tax thing is. i don't know how he get with it. what do you think of what he says? >> technology, they don't know about pitchforks and things like that or porches where they can get him. he makes a good point on terms of taxation and people who are successful and entrepreneur real don't connect the dots that enables a note innovation to be fully developed, let these companies grow, get the capital to grow and capital comes from savings, savings comes from not questioning people who try to put together a nest egg or profits, profits are not just a surplus, profits have to pay for all technology you destroy, all the inevitable business failures, financing the future. cheryl: he makes the deck of the top 1% pays more in federal
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taxes than the bottom 90% all combined so he says that 1% is carrying the government and the won't duet forever but what is the other option? >> if you do when europe and france have done which is put on wealth taxes or higher rates of taxation, what you get is less innovation, is one thing to invent something but then you have to develop it. china had a lot of inventions in the past but didn't have a free market that could develop them. we do. when you do things you say will help the people hurts people's mobility and when you talk about the 1%, when you look at over 20 years the people in that 1% change. melissa: you are not sympathetic group. no offense to you personally, you are in the top 0.1% but hard to get america out there to feel sorry for burdening the top 1% especially when folks like warren buffett come out and say we're rich, we can afford to pay more, we should. >> that is nice when you have it but you don't have to be
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sympathetic to the top 1%. you want an economy that enables people to move up and enables people to improve your lot in life. that means a dynamic economy. one reason we're hearing this anti 1% stuff is we have a stagnant economy. median incomes of gone down in the last five years. the last 40 years it takes two incomes in a family to have a middle-class existence whereas in previous generations one income could do it. melissa: that is the argument on the other side. members of congress out today lobbying to raise the federal minimum wage across the board to $10.10 an hour calling it a living wage, making the same argument saying there is no opportunity to move up. is not a living wage to make $7.25 but if you make an dollars and $0.10, that is a living wage. >> most people on the minimum wage are not the chief breadwinner is in the family. the median income of families that have a minimum wage earner in the household is $53,000 so
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it is not just one person. but if you want to get wages going up, you have a vibrant economy where people have a chance to get skills, most people start out the minimum wage within a year are earning more than the minimum wage and so the problem is instead of trying to pass laws about minimum-wage, have a dynamic economy where the standard of living goes up and people go up with it. melissa: how do we make it more dynamic? >> get rid of obamacare and get health care system people can understand that is patient oriented and have a more effective safety net than we do today, have a simplified tax code which democrat support, we have the worsttcorporate taxes in the world, simplified that so you don't get in the way of people who make these investments and have a stable dollar. markets can work again, sensible tax code, health-care system people know the rules of the game, it will take off like a rocket. we have done it before.
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melissa: thanks for coming on. coming up, wall street tighten's view and anet yellen. dick bove has a lot of feedback for one of the most powerful women in the world and he is not mincing words. does he ever? exclusive interview straight ahead. at an end of the day it is always all about money. [ mal an] once, there was a man who found a magic seashell. it told him what was happening on the tradg floor in real t time. ♪ the shell brought him gre fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ distinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your ading platform with think or swim from td ameritrade.
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ashley: ashley webster with your
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fox business brief. bank restructuring funds with goldman sachs to help plan the privatisation of the country's largest bailout bank, nationalized in 2012 with $30 billion in e.u. bailout funds. spain is looking to sell 60% of lender, consumer sentiment was unchanged in february from january at 81.2. economists expected a lower reading of 80.6. thompson reuters university of michigan index found americans optimism was tempered by current money concerns. u.s. manufacturing output unexpectedly declined in january. the federal reserve says tax rate production fell 0.8%, the first drop since july and the biggest since may of 2009. that is the latest from the fox business network giving you the power to prosper.
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melissa: it is about under armor, speed skaters are asking:began skating officials in sochi for permission to swap out there under armor uniforms. these other controversial new suits that some skaters are blaming as the cause for their poor performance after six long track events. that includes gold medal favorites like shawnee davis and heather richardson who have dominated the world cup circuit
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this season. only to do so poorly at the games they are blaming these uniforms supposedly the team has split pretty much down the middle about who is blaming the uniforms and who says i don't know, maybe we're just having a bad olympics. in any case right now they are asking if they can change out of those outfits. you saw the stock trading down on the day. it continues to slide, now below the session, down 2.8%, very negative story for this stock to say the least. he says she is more trouble than she is worth. renowned bank analyst dick bove not pulling any punches when it comes to news that chair janet yellen. he is with me in a fox business exclusive. welcome to the 2:00 hour, glad you could join us on the new money. it sounds like you are not sending janet yellen of valentines this year. not a fan? >> i agree with you. i am saying that she is exactly the wrong choice for the job because basically i have never
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been a supporter of the concept of printing money in the first place but forgetting that, the main issue that bothers me is she agrees with the regulatory trusts that have been made by the federal reserve and its sister, brother organizations over the last few years and that is creating tremendous problems for the economy. by overregulating the banking industry which he seems to want to continue to do what she is doing is forcing a massive expansion in the shadow banking industry. basically the regulators have set up a financial system which is much more prone to risk and failure. they are not achieving what they want to achieve an are harming the u.s. financial system. she is exactly the wrong person. melissa: instead of going to banks lot of folks are going to business development, master limited partnerships, going to private equities, things that in the long run are more expensive
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and augment for entities that basically can't get a loan from banks. not like they're not borrowing. they're just not borrowing from the state route. >> that is right. the regulated if you will financial industry, the banks and the brokers are having so many if you will locks put in front of them in terms of lending money, whether it is rules which say they can make equity investments, the volcker rule, rules that tells them they have to put certain capital against investments and mortgages, qualified mortgage program, dozens and dozens of programs have been put into effect, hundreds literally have put into effect and what happens is the banks are putting their money at the fed instead of into the economy. you have $2.6 trillion sitting at the fed that should be in the economy. if the banks are not lending this money to the demand is you are basically going to have
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all of the company's you mentioned lending that money. we have isolated 140 companies in the shadow banking market everything from business development corp.s to pawnshops which are benefiting meaningfully from the fact -- melissa: folks onnthe other side say banks got us into the harder. >> i don't believe that. what created the financial crisis is guys like -- did in 2008 when the financial crisis occurred. it was a massive buildup of excess funds as the result of this huge trade deficit we have with the far east and those funds were invested in appropriately. i don't think the banks cause that. i think the banks facilitated that. i will give you a story which i don't know if it is apocryphal
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or not. when jamie dimon met with eric holder error when they were negotiating this $13 billion fine, was shocked jamie dimon more than anything was eric holder was a zealot. he believed what you just said so thoroughly that he believed any attack on the banking industry was the appropriate thing to do and jamie dimon was not expecting that. he was expecting a rational discussion with a rational person. that may not be a true story but i am told it is a true story. think about it. if what you have is a bunch of zealots who are attempting to pound the banking iidustry for something which i am telling you they didn't do, then basically you are going to get a series of laws which will force a change in the nature of the financial system. the business development corporations are not going to be stopped by what regulations they put on the banks. melissa: thanks for coming on, we appreciate it. coming up, you are looking at 12
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inches of snow dropping in a matter of hours just blanketing everything in its path. many parts of america are reeling from the wild whether we have been having. some towns can't keep up. what happened once they have already blown through their winter budget? we are about to find out. you can never have too much money. ♪ [ male announcer ] how could a luminous protein in jellyfish, imct life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. we price, we understand the connections of a complex, global ecomy. it's just one reon over 75% of our mutual funds beat their 10-year pper average. t. rowe price. invest with confidence.
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melissa: time for a fed change, sometimes towns that are hit hard by winter storms had noo left. would you do when you blow 3 or budget? joining us is the city manager of care of the main his says
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they spent 40% of their overtime budget. thanks for joining us. i lived in maine for a while so i know there's a lot of snow up there and you budget for a lot of snow but you have blown through so much of your budget and we are barely into 2014, what are you going to do? >> all sorts of different things we have to look at doing. 40% to the budget month and a half into the year, the budget based on the calendar year so there's a lot of snow left to go staying for next year. we have to look at where we might cut back and other areas within the public works department, we might be looking across another department as well. melissa: what can you do? where is the first place you look to make up funds? can't not plow, you cannot solve. what can you come back on? >> you have to keep public safety at the top priority, you have to balance other things you are doing, various things like
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government, how much of the supplies you are spending. the same amount of fuel you are using in other areas. there are a lot of things we have to look at. melissa: i feel like you can't save enough on scotch tape in order to get enough salt you need for the roads the wet winter is going, it will take a lot less than being clever with the amount of paper you are using. what do you do when you go over budget? do you borrow? >> when you go over budget you have to take a fund balance that the city reserves, where you take the balance. right now there is a fairly decent federal reserve and every once in awhile, you spend over on salt and overtime. we budget for an average season and this year we are on pace to be above average. i feel confident we are early enough in the season to make out pretty well at the end of the year. melissa: you think there's a end inside? the snow is going to stop pummelling as? >> that is what they tell me
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anyway. melissa: i hope you are right. there are some many towns in the same position we were wondering how you were managing. thanks so much. >> no problems at all. melissa: we love being on during market hours on money so here's our look back at our first week since the big move in the money rewinds. would stocks on the move, here is breaking news. you can never have too much money. fed chair janet yellen made her first public appearance and investors are responding. stocks across-the-board. >> janet yellen out there saying she is going to print money. melissa: because we haven't seen it yet doesn't mean we won't pay the piper. >> not showing any summit for a big drop to the stock market. melissa: would you get in here? >> i am not leaving. >> i agree with uncle carl it is undervalued. melissa: if they continue to intervene, it is a huge if. justice of them to rain on your
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fiscal parade, negative every single month. we do not see any traveling. buying an awful lot of smoke billows and not a lot of snow falls. wage wars. >> who is going to pay for this? taxpayers. >> $21,000 a year is not a living wage. what is the point of this? we are going to have significant rains every day until may. melissa: anything anyone can do for you weather and pray for rain? >> practice the rain dance. have to wait and see what happens. melissa: bringing you a wall street showdown. you love twitter. >> i disagree with charlie 100%. >> don't listen to wall street. >> trade 75 before 35. melissa: put your money where your mouth is. so glad you could join us ere at 2:00 p.m.. that is why you got to watch every day. a lot of good stuff. we will show you the dow on the way of trading up 138 points. we are at our highs of the
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session. want to stay on top of the markets at all times because it is a good day for the bulls. up next accounting down to the closing bell. our next guest's take on the stocks you should be romancing this valentine's day as well as those you should think about kissing goodbye. we will be right back. ng? there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion isn 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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melissa: whether on wall street remain street, making and losing money today. and cut its forecast for the year after disappointing earnings report. stock has been dropping down over 3% or nearly 3%. ceo richard snyder has 2.4 million shares. he has already lost $8 million today. that is the key. trying to make money, the apps giving away its service for free for the rest of february comes right in the midst of flu season
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and those wanting to speak to a doctor can do so from the comfort of their own home without paying the usual $40 fee. let's hope this works for them. free for the rest of the month. that is why we're telling you about it. making more money sony, the play station iv beat out the x box as the best-selling council. it sold nearly double of those to the competitor. new data reveals sales overall are an impressive 17% the month nearly a quarter of $1 billion would play station iv leading the way. who would want their valentine's day flowers delivered by a drone? there's a valentine's day scrooge who is trying to squash the operation that goes by the name of the federal aviation administration commerce township. michigan is the town experimenting with a drone deliveries and they thought would be nice to send three rose to their test group but the faa says commercial drones won't be allowed unless they are free authorized.
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what a bummer. where is the love? it is valentine's day. what more to love than money? here to breakdown the stocks to liken the stock to break up with our andrew king and fox business's sandra smith. andrew, i know some of the stuff you like our rrght of santa's alley because she knows about commodities. southern copper is when you would like to be your valentine. how come? >> the way i trade is unique trading style. i watch institutional order flow through option markets. i look for big collectivity. we find institution coming in today by $1 million worth of southern copper september '37 so someone gets up to $37 by september, stock is breaking on a daily chart. getting the to the $40 level, i think things are starting to turn around in china. gold starting to uptick, natural gas and oil on fire. i like southern copper. melissa: what do you think of
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metal? sandra: $5 increase is a long time to wait until september for is that i will challenge you a little bit. the metals have really gotten hit on a lot of this week data coming out of china. look at the southern copper charge. some of these stocks tied in copper prices have gotten hit so maybe it is a good time to look at these battered stocks and copper is itself, china's grows storage might have gone away for a little bit but there are still more and more people in china, they are building buildings, building cars. they need more of this summit is a huge story. melissa: you like newtfield exploration? >> other institutional orders we saw yesterday at newfield exploration, huge collectivity. it's so ironic that you see, if it can get through i that 25th level, this is a producer in that oil/natural gas space. i don't look at this in holding these positions to expiration. i'm a trader, i get in, i get
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out. even if southern copper goes up a buck and a half, i'll probably take half my position out there. options have a mark to marker count, so every day that southern copper goes higher, i'll make money, and when it sells off, i will lose money. but i like newfield as well and fx. melissa: andrew, talk to me about delta. it is a tough time to be in the airline business the weather, is that one of the reasons you don't like them? >> yeah, i'm long call, i'm probably going to sell these by the end of the day. i made money this year and last year being long the airlines, being long aal, united airlines and even delta. with this cold weather and the airlines shutting down, it seems a little bit toppy. they were up a lot year to daylight, the whole airline factor, so they might start to roll over right here. melissa: all right, sandra, what do you have coming up on the closing bell? >> who better to talk to on valentine's day than the ceo and founder of match.com?
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online dating is a billion dollar industry, he's at the helm of it. we're going to talk to him about kinder, the app younger people are using to find people to date in their area. major concernses, we're going to ask him about it. melissa: "countdown to the closing bell" starts right now. ♪ ♪ >> friendly skies? how about the frozen skies? the big chill forces the cancellation of the highest number of flights in more than 25 years. will the freeze take the heat out of airline stocks? still need a valentine's date? there's an app for that. match.com, okaycupid and kinder are a huge business, we talk to the prince charming of online dating, sam yagen. the olympic race for social media gold. when it comes to youtube use, there's already a clear winner. "countdown to the closing bell" starts right now. ♪ ♪

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