pace can resume soon. david: japan's economy grew at much slower rate than expected at the end of last year. expanding by 1% year-over-year. economists predict ad gain of 2.8%, almost three types as much. sandra: italy's new caretaker the new prime minister will begin talks to form a new government within 24 hours. he promised radical program to lift italy out of its most serious economic slump since world war ii. "after the bell" starts right now. david: well, sandy just told us the market is closed today for presidents' day. happy presidents' day. we're here to help you get ahead of your port foes. with us, craig johnson, piper jaffray senior technical analyst. he will tell us why he thinks the bull market still has a lot of steam left. jonathan murray, ubs senior

vice president of ines and a -- investments and a wealth management president and how investors take advantage of the growing need for water. happy president's day. start with you, craig, and the whole issue with volatility and what will happen in 2014. not will be a straight-up trajectory as it was in 2013 but we'll we have more pullbacks like we had in january. >> absolutely. i think 2014 will be what i define as a good year, not a great year like 2013 was. this little 6% pullback that we've seen so far this year caused quite a bit of concern among investors. however, so far it has been fairly well-contained. it has been fairly i what would define as pace, very nice pace but it has not really gone to any sort of extreme as of yet. i do think we're not quite out of the woods yet. still bullish for the full year.

i think we'll wind our way toward 2100 by year-end. sandra: jonathan, we want to get to your idea on investing in water in just a second but we're looking at the nasdaq one-year chart that exponential run-up we saw the past year. where do you see things going as we start this holiday-shortened3 week and start to work our way into the second quarter of the year? >> hi, sandy, hi david. i tend to agree mostly with craig. i think the market has some legs here. the decrease in january was very normal a very common experience to have a five to 10% pullback in the markets. that is a good thing. it is healthy. it is never fun to see your statements go down. we need that to resume a upward climb. at nasdaq, our analysts feel larger companies, big value names, represent a better play than the small, midcaps represented by nasdaq. while we're pretty constructive

on the markets as a whole especially the u.s. equity markets we tend to overweight the large companies and maybe underweight the smaller cap names that are in the nasdaq. david: james, let's get real specific. talk about commodities for a change, away from equities for a second here and coffee. you think that coffee is ready for a pullback. why? >> well, we do. coffee supply is worldwide this coming year will also be a surplus like it has been the last two or three years. recently brazil has had some extremely warm and dry conditions. slightly very important time frame as far as cherries creating coffee beans later on this year. vietnamese coffee supplies are at all-time highs. brazil, even with the warm weather they have experienced the last 30 days is likely to have a very close to a record crop, certainly a bumper crop. about 1.40, 1.45 we rallied to from one dollar two months ago

factors in a lot of dry conditions. it seems to me that often we have a rally with weather and a lot of the drought-possible markets like grains, coffee, cocoa, sugar. coffee had one recently. when we start picking beans probably in june and july we'll find out there will be plenty of supply come this fall when the harvest wraps up. sandra: jonathan, he is taketalking about the grains and grains need more and more water. specifically i want to get back to your pick. you say there is interesting opportunity in water. you say it is the new oil. how can we take advantage or play this opportunity? >> yeah. i don't know if you guys recently have flown to las vegas or flown out west over lake meade and hoover dam. if you do that you can see the water table has shrunk about to 30 to 50 feet. that is how much water consume shun is taking place in the west and specifically out of las vegas. in a couple of years, that water table will be below the intake pipes out to vegas.

so what does this mean any think example of the tremendous thirst, not only in this country but globally for potable water. we are so fortunate in this country, we're so blessed to be able to have almost free drinking water, i don't think that is going to be the case in the next five, 10, 20 years. i think we as americans are going to have to pay more for our water. we're going to have non-potable water in our toilets, for example. we've been wasting so much water in this country, there investment play. it is companies that move the water, they transport it, they produce it, they desal lynn eight it. all these countries we think are growing opportunities. sandra: jonathan there is etf you follow, eio? >> global shares water etf. sandra: there you go. >> rather than rifle shot a specific water play this etf has a number of water companies in it.

companies like flowserve and pentair. it gives you a nice broad basket of water companies. talk it your advisor bit. david: craig, we got 13-f filings from the hedge funds, big money. these guys have been doing quite well. george soros is back on top. he shrilled a little bit. he is back on top. one of his bets, last quarter of 2013 so maybe he changed it more recently but he bet $1.3 billion, he upped his stake, betting against the s&p, putting down a put against the s&p. what do you think of that bet and do you think he would stick with it? >> well, first off i wouldn't bet against america and i wouldn't bet against our equity markets. they are among the deepest and best in the world. while we may suffer some pullbacks and corrections this year i don't think there is any sort of black swan events out we'll see a repeat -- david: again, i'm with you generally, craig. but again, this is a guy who essentially broke the bank in

england voting against the pound. he has a track record. when he puts down a put bet, he has a pretty good track record. tough to go against that record. >> well, i guess, in this particular case, i certainly respect everyone's opinions buts, as i look at market, i see what is happening. i see what is working with the sectors. i see what is happening with earnings estimates and happening with the economy. seems like a whole lot more things are going right than wrong at this point in time. it is not a bet i would make. i think you will see some volatility this year. i don't think there is some sort of a major bear market looming at this juncture. sandra: we have a very bullish panel at least for the stock market. james, i want to talk commodities with you. you already talked about coffee but gold has had a recent move a safe haven move. people started buying it again. everybody was speculating will gold see another move up? will it go back to $1900. is the recent rally short-lived? or do you think that the selling will regain traction in the

coming weeks? >> so what is interesting about gold right now is the quantitative easing pushed gold prices up to $1900 as everyone knows about approximately two years ago. quantitative easing was supposed to strengthen the economy. strengthen jobs, increase salaries, create inflation. after waiting for this period of about four or five years for this to happen, it hasn't materialized at all. certainly, job creation is the main thrust for inflation. without that, inflation is likely to stay very low. we're looking at that in europe right now. they're considering battling deflation. gold probably has another $50 to the upside, possibly 1400 we're thinking. at that point without any type of inflation, it is probably going to falter. we see gold prices probably heading back to 11, 1150 late they are year. a lot of large picks by large banks gold will fall to 950 to

1,000 toll lars. that is etch off the table right now. we don't see interest rates pushing higher enough to get gold prices down to that level. each day that the u.s. economy wanes and wobbles, that $1,000 call on gold seems less likely. david: james, we admire your analysis, more than anything else, we admire where you are right now, which is in tampa, florida. all the rest of us are way up north. boy, does it look good in sunny florida. we have jonathan murray. of course he is in baltimore. a little warmer than here in new york. but craig johnson, you're the winner. up in minneapolis, only place cold early than new york that i know of so. sandra: thank you, gentlemen. >> thank you very much, guys. appreciate it. >> thanks, sandy, david. sandra: all you guys, david, you, me, all taking money out of an atm, bought something from amazon or made a trade at new york stock exchange. you have likely used red hat products if you have done anything of these things. the ceo tells us exclusive i why

2014 will be the defining year for tech and why businesses should have their head in the clouds. david: a big blow to big labor down south. did you see that? volkswagen employees rejected union representation. volkswagen gave them every benefit of the doubt. there was a lot of betting that the union was going to win. they lost t was 60% to 40%. they lost big-time. will the decision attack more foreign car manufacturers to come to the united states? we'll debate that next. tell us what you think, will the uaw ever succeed unionizing foreign auto companies here in the u.s.? tweet us at fbnatb. your answers later this hour. ♪ [ male announcer ] if you're taking multiple medications,

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david: united auto workers union suffering a major setback when workers at a tennessee volkswagen plant voted to reject union representation. this was the first time the uaw had attempted to unionize a foreign-owned car factory here in the u.s. sandra: what does this defeat mean for the uaw which has already lost hundreds of thousands of members over the past few decades? our own rich edson joins us now from chattanooga, tennessee. rich. >> well, sandra and david, when you look at the momentum the antiunion group says they have, volkswagen basically letting them come in, expedite the timing on selection, let them set up shop within the factory here in chattanooga to try to lobby workers but it doesn't work. the workers here voted basically not to have the uaw represent them but this might not be over yet pause the uaw said there was undue outside influence from a number of politicians who basically promised if the

workers rejected the uaw that volkswagen would expand their operations here and uaw could challenge the results. >> there is still some issues that have to be sorted out about this election. we'll let the people that do that, others and what not, further down the road. >> we've asked the uaw if they do plan on challenging the result. they have not gotten back to us. we tried to get to the national labor relations board who would make the decision to allow a challenge to go forward they have not gotten back to us. from here the uaw is not allowed to organize the particular plant this next year. they struck the deal with volkswagen. this was last shot for a year. the other unions could come in to organize the workers. it doesn't stop the uaw trying to organize other plants and companies here in the southeast. something they have been trying to do and thus far been unsuccessful. back to you. david: rich edson, in

chattanooga, thank you very much. for what this vote means on the future of unions and car industry in the u.s., lauren fix the car coach, joining us on the phone and phillip dine, author of the state of the unions is in washington, d.c. good to talk to both of you. lauren, vw, volkswagen really bent over backwards to gift uaw every chance to get representation. the fact that they lost against a company that was trying, almost trying to help them in their unionization efforts, does that mean uaw doesn't have a chance of getting in any foreign car plant here in the u.s.? >> the truth is we kind of hope that they don't, not from automaker standpoint. you want to be competitive. part of the competition is being able to be non-union to have a little more flexibility but i think what the real nail in the coffin shall we say was, vw was totally neutral. they're used to dealing with these different types of unions in other countries but the fact that neutrality agreement, i

think was the real nail in the coffin for them because what it would have done essentially, according to the people that have read this contract, it would have reduced their pay by $3 per hour over their current pay and nobody wants to take a loss, especially in this economy. that was a big factor. i think they tried this also in the her said plant in 2001 and they failed. so this is another, another issue that we may, you know, come across again but i don't think they will get any headway. david: phillip what about u.s. companies? there are only really two big ones now, ford and gm, do they benefit in any way from union concessions because of this loss for the uaw? >> well first i would like to say i think this is bit of irony here talking about american companies being able to be competitive by not being union but here we have a german company that is doing very well that is wall-to-wall union in germany and they're expanding here. as far as american companies, i

think thhy may benefit a little bit indirectly because the uaw obviously would have been stronger had they been able to start making inroads with foreign companies. david: well, lauren, what about phillip's point? hey, look, the unions over in europe do very well for the companies that they work for and gm and bmw and mercedes, they're all very competitive and they're all unionizeed? >> that's true. i mean but i think that the people have spoken. vw, vw group as a whole, which obviously is audi and other brands, vw, so many of them, they have really been understanding and working with their employees and employees didn't want to take a risk that this would happen. so what the other gentleman is saying does make sense that's for sure but i think the uaw here is different than the union that is are in place in other countries. and part of this is the lesson that american labor is not helping build jobs. i think consumers are really,

not consumers but employees are very afraid of that. david: by the way, richard trumka, head of afl-cio has said this is just a minor setback, phillip. i'm wondering if he is sort of soft pedaling the blow to unions by this. >> look, going back to the point just made, american companies, what's different here, german companies may be more neutral and more understanding than unions can help. let's remember a swing of 44 votes would have turned this around. thing i -- david: but hold on a second, it was still a 60-40 vote. 60%, in any kind of political race, that is pretty decisive, right? >> except it was 712 to 626. david: at any rate not go over that. what about the union movement in general? this has to ablow not only to uaw but other unions? >> union is bit after loser.

the other loser republicanpoliticians who teach that government stay out of the private sector. here they're threatening coercing, saying, intimidating things that were not true even volkswagen denied. and furthermore, state senator in tennessee that that the state would withold incentives for the company to expand if the workers voted union. what is that all about? david: in the heat of the battle. you know how these things work, lauren fix. we have battles exaggerated charges on both side. i heard stuff come out of unions during these battles as ridiculous as well. the question, lauren, what unions did to the auto industry here is significant. it is not just historic. the memory of the workers clearly played a role in their vote. did the unions, caa you actually blame unions for having messed up the u.s. auto industry? >> well, i guess at some point, if we go back in history it really, truly was a benefit to

be a part of a uaw. they really were great with the workers making sure they got treated fairly, fair wageses and great benefits. at the time they were formed that was the way to go arefor any worker, it was absolutely benefit. may have not been a benefit for manufacturers. they had to start treating them fairly if they wanted to get good results and good products. now things have changed. things have evolved. we learned offer every side, both uaw and people against the unions and, you know by all the threats back and forth, what this other gentleman is saying but the national labor relations board is there in place. we have rules that we have to follow. there is nothing we can get around that. as far as the uaw and what has happened in detroit, nobody wants to see repeat of that. no one wants to put themselves behind the eight ball. because the south typically has lesser-paying jobs, now the better paying jobs are there nobody wants to take them away. why there are so many plants in the south. all the germans are bringing.

hyundai, nissan, volkswagen, bmw. if they want build here they will move to mexico and we'll lose jobs. david: more likely to be build here now. nlrb can be accused of anything in the obama administration, not antilabor. they were watching the vote carefully. if they saw anything bad there would be people indicted. lauren fix, phillip dine, state of the unions is his book. lauren, thank you very much. >> pleasure to be with you. sandra: imagine a deepwater project that could create nearly 200,000 jobs in the u.s.? we see the man behind this bold idea, fascinating really. we'll learn about the unusual way that he is raising money to actually fund this massive project. and, can be depressing but tax season is just around the corner. you may be interested to hear what you pay in overall taxes has a lot to do with where you live. next the american cities with the highest and lowest taxes in the country. david: i'm packing my bags. ♪

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sandra: fortune 500 companies and consumers alike made red hat a staple in everyday life even if you don't realize it from placing an order on amazon to taking money out of your local atm. david: red hat ceo jim whitehurst says 2014 will be the defining year for tech companies especially when it comes to the cloud and that's where they're focused. why and how is red hat expanding into the cloud space? jim whitehurst in a fox business exclive. always a pleasure to have you on. i have to admit i have to remind myself exactly it is what you're doing. warren buffett included very often he doesn't understand this

stuff and reluctant to invest in it. explain simply as possible what it is red hat does. >> we provide the infrastructure software so operating systems in middleware that run most of computing's infrastructure. so banks, transportation networks, and internet. what makes us different, it is based on what is called open source software. the software code itself is free and people like google and amazon and others contribute to it. we offer support and certifications and long life stability on top of it. so it is a software that runs almost anything associated with the internet but we provide support and services which make sure it runs reliably, so for things like stock exchanges at dramatically lower cost than traditional proprietary software. sandra: you're embedded in our lives whether we realize it or not. at the atm or placing a stock order at the new york stock exchange. we know you're a major customer of the new york stock exchange. jim, you're making a bold call

on technology for 2014. you believe that this will be a defining year for technology. explain. >> well, basically technology is going through a maturation from the day when you basically had custom tailored systems built with specific chips and very expensive, kind of especially tailored software to the systems now, people often use the word cloud computing to describe it where it is commodity standardized, hardware and software put together in these massive data centers. it is dramatically lower-cost way to deliver computing. for the first time i think in 2014 we're to the point where traditional companies are starting to implement it in their own data centers. so people talk about amazon being able to deliver computing very, very cheaply but now large companies can do it. the reason i say it is defining, recognizing enterprise software companies and hardware companies so the people, vendors to

enterprises represent a trillion dollars in market capitalization. fundamentally at risk and starting next year and starting over the next five to 10 years. david: is it too much to say this is democratization of capitalism in the cloud? before you needed to be amazon to have that kind of scale in order to work there but you're, you provide smaller companies that don't have the cale that amazon does to do the same thing, right? >> basically we provide software that allows for that to happen. again democratization is good word. we didn't write the software. we've taken the software from other cloud providers, from rack space, google and others, basically taken the software they developed in the open and provide that enterprise and service providers for service in their own company. sandra: your revenues last year topped a billiondollars, is that right? >> we, two years ago we passed that. we're on track to do over

1.5 billion this year. sandra: so you're fairly substantial here. what are you doing? what are your big plans to expand? by the way some of this is going straight over my head. make it simple for me. what do you guys do to continue to grow? >> various areas of computing we think are overpriced we go in and offer services. we are getting close to tax season here. intuit is a great example. when you put and do your taxes on turbotax and that used to stay on some expensive hard disk drive there that had layers and layers cost associated with it. intuit uses red hat's storage platform to store it on equivalent of a low-cost disk you buy at best buy. it self-replicates across regions in the world. so your data is completely safe around replicated. we're able to do that using low-cost platform using commodity disk storage than a traditional array from traditional vendor. david: even if you don't

understand it, you have to respect his company is pulling in a billion dollars a year doing this. we have to get to know this stuff in more readily exceptable manner. jim whitehurst, continued success. red hat's ceo talking to us from raleigh, north carolina. >> thank you. david: you can sometimes tell a lot about a company watching what insiders do, whether inside remembers buying and selling their stock. people inside of twitter can cash out and sell shares of twitter if they wish. we have details coming up. sandra: hover boards, gas robots, the movie,back to the future promises great invention we may get to one of them, self-tying shoelace, david. david: i wear loafers. sandra: i could use this at the airport. ♪ ♪

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sandra: tax season is upon us. according to a new report what you owe in taxes could be largely determined by where you live. so who has got the highest bills? at number three on the list was milwaukee, wisconsin where residents face extremely high property taxes. number two, philadelphia, pennsylvania, where fuel is heavily taxed. and bridgeport, connecticut, has the highest tax burden, along

with property taxes, the city also has a very high income tax. so, here's what you really want to know, what areas of the country residents paid the least taxes? number three was billings, montana, which has some of the lowest sales and property taxes in the country. number two was las vegas, nevada, number one was cheyenne, wyoming and state with no income tax and extremely low sales tax. the city has a property tax of just 0.67%. what are we doing here? >> with my deference to my friend in wyoming and montana i'm going to vegas. sandra: there you go. david: five years later debate rages on the effectiveness of the obama stimulus bill. he was promising stimulus dollars would create 250,000 and 500,000 jobs a month. we know that was way off course. what did all those hundreds of

billions of your tax dollars actually create? sandra: joining us with both sides of the debate, fox business's peter barnes. peteer? >> david and sandra, wasted spending and unnecessarily bigger deficits according to republicans is answer to your question. the white house today calling their comments delusional however. republicans started this off this morning with a press release noting that the congressional budget office found the actual cost of the plan was $830 billion, not 787 billion. money went to companies like solyndra which wasn't bankrupt and cost taxpayers $535 million. the release said cbo found the plan fell short of its goal of 3.5 million jobs saved or created by the end of 2010. the plan certainly did not push unemployment rate down to 5% by the end of 2013 as this famous graphic from the white house predicted back then. critics and supporters faced off

>> the actions of this administration have taken have not been something that has yielded more jobs growth and greater income for the american worker. >> half of the money was spent on tax cuts, things republicans historically loved but apparently don't love it now. the rest was insufficient to deal with incredible shock to the system. >> in a 70-page report released earlier today white house economists said their models estimate that the recovery act saved or created about 1.6 million jobs a year through 2012. this will be a data clash going into the election. back to you. david: get too many of those. peter barnes, thank you very much. good to see you, peteer. >> one of the top tax stories of last year, twitter's ipo of course. on saturday nearly 10 million shares of the microblogging site were unlocked. they are owned by non-executive employees of the company and could start trading tomorrow.

david: that is where we'll see the interesting inside trades. jo ling kent standing by with some detail on that. hi, jo. >> hi, dave. hi, sandra. that's right, tomorrow morning will be the first time non-executive twitter employees and early investors can start cashing out. according to s-1 filing 9.9 million shares will be released from the po lockup. 565 million could be in play. that could cause twitter shares to fall. due to sudden increase of supply of shares will hit the market by about 14% this is potentially a the shorting opportunity for maybe more aggressive investors out there. if you look at previous lockup expirations, facebook saw its price drop after freeing 13% of the outstanding shares. the stock dropped to 6.4% to a new low back in august of 2012. twitter is taking a different approach as they did with the ipo they're only freeing up 1.% of shares. twitter has not exactly recovered from its disappointing first earnings report.

the stock dropped about 14% after that report. then on friday shares climbed up about 1.72%. now tomorrow it is kind of a bellwether for investors to get a preview what happens on may 6th, when the rest of the 474.7 million shares will be unlocked for sale. that batch is a lot bigger obviously and those shares are held by twitter executives and investors with big stakes. we're talking benchmark capital, union square ventures, and others and as what this will do for shareholders and what they will do with the money they could make? some say they may pay their taxes on their vested shares. maybe some others will buy a tesla or something nice. sandra? sandra: why not? thanks so much, jo. >> anytime. sandra: it could be a game-changer in the cargo business in the southeastern u.s. a project that could create tens of thousands of new jobs. in a moment we will ask the project's founder about his huge ambitions and how he plans to

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david: as the tech giant apple sees signs of slower growth and hasn't produced an entirely new product, entirely new since 2010, could the company be thinking of getting into electric cars? there are reports from the "san francisco chronicle" saying that apple's top deal maker met with tesla ceo elon of course last spring. this was around the time analyst suggested apple should buy test last, saying i know this is radical and potentially transformative but this would alter apple's growth profile given the auto industry $1.6 trillion total addressable market. as of now there is no indication of a deal in the works but this has analysts and tech watchers on high alert. that would be fascinating. sandra: all right. a new report to be built in louisiana is expected to create 170,000 jobs across the country. where is the money coming from to build this $1.3 billion port to create all the jobs? david: in that question is a whole story we'll get into right

now. joining us for a first on fox business interview, patrick harvey, founder and managing member of this ambitious project. this is called the louisiana international gulf transfer terminal. we'll talk about the actual deep port project which is fascinating in and of itself, how you fund it through immigration is also a fascinating project. explain that. >> the united states government has a program called eb-5. it allows foreign investor to put in half a million dollar into a job-creating entity that helps the u.s. economy and for that $500,000, homeland security does a background check and and allows them to migrate to the u.s. david: they get a green card, in ex-for half a million dollars. how many of these people are involved in the project? >> we'll take up to 2,000 investors over the next five years this is a landslide event. we never had this many people concentrated in an infrastructure project and never been highly organized and institutionalized the way we're

treating it. >> tell us about the deep seaport and actual idea itself. it would allow deep sea vessels to come in. meaning we could increase imports and exports into the united states. almost seems like a no-brainer to me when i read through the project. >> actually that's what we thought when we came across it. many countries in the world have these facilities but we're very behind. we'll not get into limit think construction how far behind we are. cargo ships, bulk handling, all things can be done on this terminal out into the ocean. david: we won't get into those details. but important to mention the pan mall canal has been he widened and deepened to allow for huge supertankers. these make the old container ships and tar go ships look puny in comparison of the problem, how you get them into port. the answer is, you can't? you have to off-load a smaller boat that takes them into new orleans and whatever port. that is you're involved in?

>> yes. david: creating a facility can off load from the panama canal on to smaller ships, right? >> actually there are bigger ships than the canal can handle. market moved ahead of the canal even today. sandra: are we talking about oil? goods that might be shipped to walmart. >> actually. walmart is involved. the port authority which created this project has a walmart representative on it. they are aware what we're doing. we can ship bulk or contain years let's talk about jobs. we teased this could create 200,000 jobs in country particularly hard-hit areas in louisiana and mississippi. >> the way the project works. we drive tremendous amount of container traffic up and down the mississippi. you have multiplier effect for needing more warehouses and facilities and more everything. it is all done with private money. david: some people are concerned about security. there is always suspicion when somebody is buying their way into a green card, particularly when a family like mine, who has

people try to get a green card and can't put up cash like that. how does homeland security deal with these people that are essentially buying their green cards? how can you safeguard the country from bad people that might be buying their way into the country. >> homeland security has a process that takes months and months, do a deep dive on people. where they paid their taxes, where they lived for last several years. they have a process getting better and better. sandra: you're doing this with private money. you're saying this will actually make us more competitive in the united states. >> absolutely. sandra: if we do something like this i want to point out a number of federal agencies are expressing interest in this. the u.s. department of defense. the u.s. department of veteran affairs. u.s. department of homeland security. are you going to let them utilize this. >> we don't have kind after choice. they are coming whether or not i have anything to say about it. but homeland security has a great interest in it.

we'll be able to screen 100% of the cargo for terrorist threats. the u.s. is wide open to threats because none of the ports can use everything. we'll use latest generation of technology. we'll screen everything. homeland security will be on site. coast guard will be on site. sandra: could this be a blueprint from the government and see success from this and do more? >> we hope so. this is tremendous idea which time has passed. david: congratulations. be interesting to see how it develops. patrick harvey. thank you very much for coming in. the great lakes have turned into a great ice skating ring as bitter cold freezes water. we're live on the lake as the coast guard tries desperately to keep the shipping lanes open. sandra: it is not the flying car we hoped we would have all. another item from back to the future could be on store shelves. you may or may not be looking at it right there. we have the details next. ♪

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sandra: the great lakes have been freezing over at the fastest rate in more than two decades. david: unbelievable. waterfalls are frozen. fox news's mike tobin joining us live from lake michigan where the coast guard is working non-stop literally to break

through the ice and keep shipping leans open. mike? >> it is remarkable, david and sandra. if you like behind me, lake michigan might as well be a polar bear habitat. rare you get this much ice on the lake but it's a rare and brutal winter. as the lake freezes over so does the shipping lines. to keep the nation moving it depends on the ice breaksers of coast guard. with ice opt great lakes nearing record levels. >> 25 feet. >> roger. >> the crew of the icebreaker, biscayne bay, finds the call of duty as far south as chicago for the first time in their careers with the coast guard. you can see it from the satellites. the great lakes are frozen. >> usually the normal tugs can handle the ice. this year it's a little too thick for them. so the coast guard had to bring in an icebreaker to help. >> ice is broken by the weight of cutter, from air bubbled out of the hull.

even the wake is often enough to create a shipping lane. what we're into is wind rows. this is where the wind driven ice to stack up on itself. it is thick. the big ships can't get through this stuff. this is what they need the coast guard to come out here and break. when it gets thick, all the icebreaker can do is ram the ice, back up, and ram it again until they carve a path. >> sometimes takes several hours to get through a field like this. >> back out earhere live you see some of the structures which formed with the ice alongside docks. may be hard to see if you just can see white. the wind has driftent ice and cracked it and piled it up on top of itself. the snow is coming down. we had a interesting feature. thundersnow. great claps of thunder in the middle of snow file piling up. david: sandy knows that sound. sandra: you made me laugh at intro. very serious stuff but you mentioned the polar bear habitat it could be.

the zoo in chicago made polar bears go in because it got too cold, remember. david: too cold for polar bears. mike tobin is there. says a lot about mike. sandra: thanks, mike. david: we asked you on twitter and facebook if you think the uaw is ever going to succeed in unionizing foreign auto companies in the u.s. after volkswagen vote they lost? michael on twitter told us, perhaps, if they abandon their political agenda and become more balanced. sandra: ah. brian on twitter wrote in to say, probably not. foreigners are not as gullible as u.s. automakerses david. david: not quite sure about that. we'll wait and see. i think we're becoming a little more aware what they're up to. he says i hope not, as long as states allow right to work, we will see a migration of auto makers to those states. sandra: and mike told us, good gloverry, i hope not! unions are irrelevant. probably a few of our viewers are appreciate that sentiment.

david: i would think so. sandra: thanks for letting me join you. david: we'll put in "off the desk." remember this? we teased it. you may remember the self-tying laces worn by marty mcfly in "back to the future" part two. nike women make the power laces reality in 2015. once they slip the their feet in the shoes, they automatically tighten just like in the movie. they used introduced the nike air mag as exact replica of the high top sneaker. those came without the power laces. >> they are trying to find a way to get rid of shoelaces right? always tripping on them? also off the desk. stop complaining about the rent on yyur new york apartment. hear it all the time. according to online website for apartment hunters, the rapidly growing city in new york today of williston has the highest rent.

700 square foot one bedroom apartment in the city, $2492 a month. the same apartment would go $1500 in this city. the population in williston doubled. that is why. david: gerri willis is next. real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global ecomy. it's just onreon over 75% of our mutual funds at their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and eenses to read and consider cefully before investing.

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somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them. gerri: hello, everybody, i'm gerri willis. right now on "the willis report", president obama demands more money for his pet green projects, billions more. as the secretary of state john kerry blasts anyone who would stand in the way. >> shoddy scientists and science and extreme idealogues. gerri: also, subprime mortgage loans are back. is the housing market about to blow up again? america goes boozing big-time. blue lodge is fast becoming a thing of the past. we're watching out for you tonight on "the willis report."