♪ >> 19 billion dollars for a company with 55 employees. that's wealth creation, but not the job creation. welcome to the new economy and good morning, everyone. there are some ininstant billionaires this morning. facebook is buying a messaging server with about a half billion users worldwide. these days making stuff does not make you money and technology does not bring jobs. all right, look at google, and google's super fast internet connection is this how netflix will get around the cable guys? and tesla says it will sell

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>> it is the big story of the day. facebook's 19 billion dollar purchase of what's app. that's an instant messaging service, that 19 billion is a total number, includes cash and stock. for a company that has what, 55 employees, that's it. that's all they got. it's a huge concentration of wealth among very few people. that's technology today. here is why facebook did it. 450 million users worldwide, international users most of them, many of them in hong kong and japan and it's available onn almost here major device. get this, what's app doesn't have any ad, the people behind it hate ads and facebookks mark zuckerberg agrees they will keep

the no ads in place, and he expects to have a billion users. this deal creates two instant billionaires, the co-founder, and they're two of 55. that's it, facebook what's app. time for your obamacare stalemate. running full tilt. here is what vice-president biden says about the enrollment numbers. >> i think that although initially we talked about by the end of this period having 7 million people lined up. we may not get to 7 million, but we may get to 5 or 6 and that's a hell after start. stuart: oh, a hell of a start he says. another item for you, a fourth hospital in georgia now closing as a result of lower payments, to their emergency room thanks to obamacare. kathleen sebelius says obamacare

does not cost jobs. chaos continues on the streets of kiev. the fighting between pro european protesters and russian backed security forces, the truce didn't last. reuters reported 21 people killed overnight. at least 51 have died since it began. a ukrainian skier pulled out of the limit picks in sochi, she's going home. next, big names in tech making pretty big moves and moving the economy as well and the market. tesla, facebook, google, watch them go in a moment. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell.

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how much money do u think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need

for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪ ♪ one more night ♪ >> that song is "one more night" okay? well, we have one more show 9:20 after today. but starting monday we're on at 11 a.m. eastern and we've the got a full two hours for you and a lot of great things planned for the new time. same show, but a new time. we start monday with that. scott shellady will be coming to us shortly. let me give you the news background to the opening of the market today. we've got reports from china of something of a slowdown there. we've got reports from japan, in the exporting as much. and we're looking at the

american economy, which shows signs of weakening in part because of the weather in the current quarter. so, a worldwide slight weakening, that's the back drop for what's going on today and plus, virtually zero price consumer inflation, we've got 1.6% over the past 12 months. where is the inflation? the opening bell is ringing and we're off and running to the upside, just, not much, but just eight points higher from the dow jones industrial average. let' get to the stocks that are moving this market. tesla, that stock rallying to new highs as of right now. it's going to boost production this year, elon musk, charles' favorite innovator says deliveries of the model s will surge more than 55%. charles, it's at 213 right now. would you buy it at that price? >> you know, i wouldn't talk anyone out of it. we had this discussion yesterday, and it was up 200% i thought it was too much, and now

it's up 300%. a lot of people are getting crushed shorting this thing. and i would not short it for sure. stuart: they said they're selling 35,000 cars this year, a big target. charles: the innovators are amazing, the elon musk of the world and mark zuckerberg in there. i've jumped completely on the mark zuckerberg band wagon. they're like the railroads in the day, and they'll take america to nor levanother level. stuart: and look at that after the purchase of whats app. >> facebook right now is down just 1/4 of 1%. yesterday it hit all-time highs, so approaching the $70 mark yesterday. big news for facebook, it's supposed to bring in younger users and what's interesting, blackberry today is jumping 4 or 5%. you know why? that's because now all the experts are saying, you know,

blackberry has a messaging service and this deal today, people will look at somewhat of a valuation, a metric on the blackberry. stuart: okay. actually blackberry is one of the stocks which is benefitting from this whats app deal. >> yeah. stuart: there are going to be a couple more. there will be meet me, latin america's whats app and blackberry has its own messaging app. we've gotten cent holdings, china's answers to whats app and we've got a nice gain up 12% for meet me and blackberry up 4%. here is tech watcher shana with social radar. come in and explain to me why you think that facebook paid 19 billion for a messaging company? >> hi, stu, it's good to be here. it's a great win for facebook, it's expanding their usage base in areas where they are looking

to, you know, further increase users. they've seen some saturation in the u.s. and this is getting them the users abroad they've been trying to get and a lot of data about the usage patterns. stuart: so if your judgment, shana, this is a smart move? by the way, i've got to tell you when the move was announced facebook dropped 2% and new it's come back and on the upside ever so slightly. your conclusion, cheit's a smar move. >> it's going to drop a little because of the inherent risk of a deal. in general, this is getting more users, more abbictive users. something like 19.6 billion messages sent a day on whats app. it's getting the younger user facebook is looking to have. stuart: stay right there. i've got to bring everybody another technology story from google fiber service, twice as fast as a regular broadband

connection and they're going to expand that internet connection, expand it it to nearly three dozen metro areas. all right, does that mean that i can binge on "house of cards" without interruption and go around the cable guys? what do you say? >> i think that there are several thousand folks in d.c. that certainly hope that's the case, we were watching "house of cards" this week. it's a great opportunity for us to have, you know, speeds that arr just, you know, currently inaccessible to stream great content to our devices, whether it's our mobile phones or to our computers. i think it's a big win for all of us that are looking to stream content. stuart: you know, charles, we've got three innovators in the news as you said, he elon musk and the facebook guy, mark zuckerberg and now google, this is an innovation of sorts because they're providing the super-fast internet connection. it's a big deal. charles: the whole thing is

meezimee amazing. look at cornelius vander builts of the world, and that separated us from the rest of the world. these guys are ballsy, they don't care, everybody else can opine whether they spent too much money. they're looking at the future and making it happen. it's amazing. one quick thing, the guy who started whats app born in kiev, ukraine, they're melting down right now on the verge of a civil war. he could not have done that there. only in america you could have done that. >> that jan koum? >> yeah, jan. stuart: he's worth 6.8 billion as of this morning. and i am he going to start with gap voluntarily raising the minimum wage to $9 an hour. look at the stock, i'm not sure there will be an impact. up 23 cents, no impact. they're raising it to $9. something to pay everybody that. and wal-mart, that stock this

morning is, tell new a second. that's down nearly 2%, that's the weak forecast there. i use wal-mart as an economic indicator of the future, charles. so, what do you say about that? >> now what? i don't think it has that role anymore. i think what we're seeing with wal-mart is creative destruction. a lot of people don't believe-- we don't need like the anti-trust laws. competition and free markets always comes to the rescue. at one point a & p, which a lot of people don't realize, great atlantic and pacific controlled 70% of supermarket sales in the country. the government was going to break them up, they didn't have to, competition did. there's a lot of competition nipping at the heels of wal-mart, they better figure out a way to simultaneous attack amazon and the cheaper family dollars of the world. i know they're doing it, i spoke to an executive at wal-mart a couple of weeks ago they better get on it. they've got to make it a much bigger priority. stuart: you brought your good stuff. charles: i'm pumped up and people should be excited about

what's happening. we're myopic and living second to second. there's great excitement. stuart: listen to this one, nicole, safeway exploring a sale of the company. i guess the stock is up because of that, how much? >> that's right, when you talk about selling off the company, the stock is jumping, it's about almost, right now 4 1/2%. there's a 36.17. obviously, one of our huge esst grocers in the u.s. and now this month, the month of february, it's up 16%, so, continue to watch this one, it's a story that's unfolding. stuart: thanks, nicole, i've got another which i'm going to call this another gee-whiz technology story, visa and mastercard. it's going to make it easier to pay for things with just your cell phone. just tap your phone and go. shana, still with us, come on back in, please. are you telling me, is visa and mastercard telling me i get the app on my iphone here and i buy

something just by swiping, just like that? because it occurs to me if that's the case then we're leapfroging over the smart cards with the chip in them that europe's got and going over top of that towards cell phone purchases directly. have i got it right? >> yeah, making it easy for us to spend our money. and it is true, with an update to the latest android operating system on your phone, mastercard and visa are now alawing you to swipe your phone with just the software to pay with your, you know, pay with your credit card. before, it was, you were able to do that, but it was the hardware and the phone, so some companies were limiting who could do this and now with this android update and kit kat, everybody will be build some apps with a seamless payment. stuart: it's just the android so my phone couldn't do this. >> hopefully the android will

push it for others as well. stuart: what a lot of gee-whiz stories from technology today. shana, thank you, indeed. the big board, we're up, 16,070 right now. all right, look at the price of oil. it's been in the news recently, it hit $103 yesterday. it's holding at $103 per barrel. mike rowe, he's the bdirty jobs guy, he is a friend of this program and loves the american worker. worker. his latest effort getting

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♪ there'll be the usual presentations on research. and development some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you're the chief life officer. you just need the right professional to help you take charge. ♪ to help you take charge. all stations come over to mithis is for real this time. step seven point two one two. verify a lock. mmand is locked. five seconds. three, two, one.

standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. >> it was a modest rally at best and it's almost gone, but we're up one point this thursday morning. 16,043. where is the price of gold?

down, but not by much. 1312 is your price. the price of oil, it was 103, it's still 103. remember we use today put blackberry on death watch? we did, you know, look at it getting a pop on the facebook whats app deal. blackberry has its own instant messaging app, and it goes up. mike rowe, the former hohost of jobs, listen to this. >> at one time i made things and i took pride in the things i made and my belts whirred and my engines cranked. and together we filled pallets and trucks. stuart: and it didn't take long to ask why mike rowe is supporting wal-mart. here is how he responded. quote, that's easy, wal-mart has

committed to purchase $250 billion american made products over the next decade. i want to see them succeed, don't you? who gives a-- a crap about your feelings towards wal-mart? i didn't know this was in the script. who gives a crap about mine? isn't this the kind of initiative we get behind? then we have this, i've never supported the underdog simply because they're not the favorite. in business there's nothing inherently good about being small and nothing inherently bad about being big. mike rowe joins us now. i didn't know i was going to use your laboring language. >> i never knew you could say the word "crap" and put it in a lofty lexicon. stuart: note to self, why are you being attacked by promoting work. >> i think it's disdense. you look at dirty jobs and see

an anthem for hard work and skilled labor and it certainly was that, but it was also an anthem to risk and entrepreneurship. underneath the dirt were three or four dollar millionaires, you never got to meet between the personal lens of the economy. that's not what the show is focused on. people are nevertheless upset because they think i'm trying to suggest that employees and employers shouldn't be enemies and we only talk about business and work, in my view, as though these two critical elements are in different rooms when in fact they're two sides of the same coin. stuart: let's get at it, this administration, seems to me-- this is my opinion -- it seems that they're redefining america's work ethic. they tell that obamacare lib rates you from the rigors of work and free to pursue your

dreams and not working that seems to stand america on its head. i think you agree with me. >> and here is what i know for sure. i've spent ten years working in sewers and on bridges and i've been in every state in the country and i've talked a lot to the people who do this kind of work and to the people who employ them and of the many things that struck me, the biggest one is the idea that if you read the headline news and watch the news headlines, it's jobs, it's unemployment, always. where i went, help wanted signs, everywhere. even at the height of the recession, every employer i talked to said the same thing, the biggest challenge in our business is finding people who are willing to learn it useful skill, not a glamorous skill, a useful skill, show up early, stay late. stuart: yeah, show up early, stay late. take responsibility, work hard. >> right. and so, look, it's-- we were saying before when you talk today about personal responsibility and work ethic, it seems as though those words

are becoming encoded for something weirdly derisive. >> you've got a book. >> yeah. stuart: disconnected. what you're talking about in the book is what you and i are just talking about? >> well, look, it's a very-- it's a one page book with a bunch of filler around it to be honest with you and it goes to my foundation which funds scholarships. what i'm trying to suggest is that we all have disconnects in various ways. the big one for me is this idea you can have a trillion dollars in student loans right now and we hold the note on that, and talk about a four year degree as it's the best path for the most people. we have 3 million jobs according to bls may or may not be true, 3 million or so jobs, 88% of them do not require a four-year degree and for some reason people don't seem to want them.

we're ending money to kids who will never be able to pay it back to train them for jobs that don't exist jay more.anymore. and they'd say in britain, that's quite mad. stuart: i'd give anything for your voice. and most of it goes to the foundation. >> all the money. all the money goes to work ethic scholarships. you could-- if you're willing to work in the cold, six figures in north dakota now. an if you're willing to work in the heat, call bechtel. they have positions open. stuart: mike, thank you for joining us. >> mind if i sit here indefinitely? i don't want it to be weird, but i have nowhere to go. stuart: you couldn't take the pay cut, you wouldn't handle it. charles: i'll be leaving. stuart: we've got a blow to the keystone pipeline, but a win for president obama.

we're talking about that in just a moment.

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>> jp morning says fourth quarter profit for the chinese web portal known as baidu, down a buck and a half.

172 and my take on how few jobs there are in american technology. not a whole lot of jobs, but a whole lot of of money at 10:25. then we have a judge in nebraska dealing a blow to the keystone pipeline, rolling that nebraska governor overstepped his bounds bypassing legislation that gave him the authority to approve the pipeline that goes through his state. charles, that's a delay in the making and it gets president obama off the hook, does it not? >> it does get him off the hook although that hook is getting pretty slippery. at this point we know environmentally there aren't any more arguments over it. economically there aren't any more arguments over it. we see the reference north dakota and economic miracle in north dakota and pennsylvania. and job creation could be. it buys time. if he was smart he would go ahead and step in and approve it now. don't use any more time.

stuart: but he couldn't. if he steps in and says do it, there's still a judge saying don't do it, delay-- >> and because of the route. ultimately they'll get the route and this is just one judge, but the bottom line we all know this is something that should be done, should have been done a long time ago. you can't talk about our economy not getting any traction and continues to block great projects like this. stuart: got you. we talk a lot about 3-d printing and next you'll soon be able to make toys, download toys in your home. that sounds pretty big to me, we'll have the whole story for coming up new at 10:00. plus, global warming back to being called that, now, global warming because a new report says higher temperatures bring more crime. dr. ablow weighs in on the debate and plus much more on the whats app and a brand new hour of varnney coming up. foover a decade

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air did the company with 55 workers is worth $19 billion. it is happening. so is this. a judge holds up the keystone pipeline, green is ecstatic, the president off the hook. the government considers monitors in newsrooms. this really is big brother stuff. patrick byrne from overstock.com is here. wash ago tim for bargains when i have amazon? blame rape on climate change, that is what some are saying.

doctor keith ayman al-zawahiri will set him straight. stossel goes to college. looking for freedom on campus. he will report, this is the last thursday at this time. we will make the most of it. ♪ stuart: the latest in the 3d printing revolution which we have been talking about on this program before the other guys. we, desktop manufacturing and there is news on it today. one of the biggest plants in the industry 3d systems is partnering with as grow to allow police in your own home. download plans for the latest ploy to your home computer, print it out on your desktop 3d machine. no need to go to the store. two angle stir charles, 3d is the place to be.

charles: revolutionary, revolutionary stuff from large manufacturing to individuals in their homes. stuart: you expect consolidation? charles: tremendously successful. i am shocked larger names haven't been leaked into this already. stuart: a blow to bricks and mortar. charles: i went to a 3d factory last week in queens and we will show it in the next show and i presented this, and he said the opposite like this hasbro's thing. has rollout every single kid with the 3d printer to bring their imagination to life. they will become one man factories, one man or girl will idea factories. the same thing across the country. the limited of these high-tech industries may have is counterbalanced by the economic freedom and ability to bring things to light the immediately and create new markets. stuart: you have that story where you had the new time. charles: amazing what is going

on out there. check the big board. we are down but not by much, we had economic news. that was at 10:00. the philly fed report. a report of manufacturing in the media northeastern area. down a reading of-6.3. not having a profound effect on the market. we are down 7 points on the dow industrials. let's go to wal-mart. we call walmart an economic indicator. the news is not good. give me the stock voice. nicole: when i was looking at wal-mart, the calm sales for walmart, walmart says food stamps, fewer food stamps, tighter credit also eroded

sales. and they were falling. in the meantime, have had higher, sales. and the forecast is weaker. stuart: give me apples. there is news on it down $5. nicole: by fleas that apple. and equal weight from over we. the apple story, apple is range bound. it will not move a lot over the next 12 months. even new products such as watches on tv's, those will move the knee or the way things have in the past for apple. part of that is, assuring part of the market. just saying apple is range bound. stuart: moving on to trinity

industries. this is a better indicator than wal-mart. stock shows a nice 7 point gain. there is news on trinity industries. charles: this is a stock we featured on this show twice this year. it is a real -- has to make the real cars. this is an amazing proxy for america. it is common sense and will be a tough year in america. when they reported numbers were through the roof, margins were expanding. and construction, one of the big fangs, in january, construction numbers of gone through the roof and we will rebuild this country. these other kinds of things, i prefer looking at corporate data far more than government data. what i saw from trinity last night was phenomenal. their guidance is strong and amazing and stock is at an

all-time high. stuart: the big story of the day is facebook buying what is up for $19 billion, facebook stock down $2, it opened lower, moved up a bit and now is down. there is a connection between what is up with ukraine? charles: we know ukraine may be on the verge of the civil war. this kid who started this company, was born in kiev in 1976, came to california and lived with his mother and grandmother. $7 billion overnight, his new network only happen in america. we need to underscore that the american dream is alive and well. every week, the names we hear about exploiting ttis if you want to use that word the new ceo of microsoft, public college in india, this guy from kiev,

ukraine, a lot of people outside the country understand how great we are, we can see the forest for the trees but an amazing rags to riches story. stuart: we have facebook buying accompany, 55 employees. that is it. you have a company worth $19 billion, more than victoria's secret, the same as macy's or share with williams. 55 employees. one of the themes on the program is technology is king. it concentrates wealth but does not produce employment. joining us is jennifer oppens u oppensch oppenschur. something happening in this economy. >> that someone could have

gotten how much users facebook had an 25 billion, in his network. the bottom line it is a new tech world order. speed is the new norm. companies like social media, it is what you hear about in the media. the bottom line is known for a entrepreneurship, and it is concern about jobs being changed and shifted overseas. a lot of this technological innovation is happening in places like russia and europe and hotspots brought here to america. stuart: we are not creating jobs with all this, technological innovation in the united states doesn't create jobs. look at facebook, $170 billion and employs 6,000 people. charles: i don't disagree with you. if we were creating those jobs on the surface we would be calling this period in history the third industrial revolution. the first two created amazing

amounts of jobs. you took artisans with shots of four five people making things to assembly lines, hundreds of thousands making things fast but if you connect the dots a couple steps further maybe we will create jobs by connecting people and technologies and ideas and may have to connect the dots. >> on the one hand technology leveling the playing field is creating more access to more people -- stuart: no question whatsoever. where are the jobs. >> i would like to see a focused jobs creation plan around the stem issues, science, technology, engineering and math. not lead highest paying jobs but innovation. stuart: just created several instant millionaires. they will not be vilified. if we created a couple brand new

billionaires in banking or stock trading they will be putting public stocks in stone but there tech guys, how do you explain this? nntification to silicon valley. >> you could say it vilified somebody wearing the police, and -- charles: growth, 711. >> jamie dimon has been around for years and i come from politics, we knew your stock could rise as fast. stuart: come on. we hate those rich guys on wall street. >> people don't want to see people have one thing out of their mouth, particularly when it comes to your own financial security and the security of the american financial system. stuart: i you defending the

vilification of wall street? >> no. i am saying wall street needs to enhance its reputation and be more transparent for people land make sure consumers know what they're doing. charles: the most -- the best you can say in recent vilification of wall street is accepting the bailouts. if they had took their hits without putting the public on the hook but there's a difference. earlier i talked about this, the railroad barons. when anybody reads about them is not railroad barons but robber barons. somehow the people that took america that we took a quantum leap over the rest of the world, england had the greatest economy. all of a sudden these robber barons introduced electricity and assembly lines and railroads and steamships and we went to the next level but they were evil even though we went from a 40 year life span to almost 80 years they were evil. they get a free pass but the free passes coming to close little get san francisco.

people getting frustrated with the hipsters wearing hoods. >> the last thing, privacy is changing dynamics because people do not want to see facebook getting access to your data, and how is being used so there is more focus just like the consumer financial protection miro was created thanks to the financial crisis, now seeing organizations like the future of privacy forum bringing independent thinking to that issue because consumers don't want it. stuart: i love it. charles: it is an exciting time. stuart: thanks for joining us. there was only one winning power ball ticket sold for the $425 million jackpot sold at a convenience store in central california. we still don't know who won but the winner will get a big tax bill. they have a 60% tax rate in

california. we don't require any comment. president obama's federal communications commission people going to -- want him in the newsrooms looking over our shoulders, ask about their editorial decisions. reminds us of the famous matt as health theme from the movie network. the judge is coming up on that story but you got to watch this. >> we want to congratulate you and your new show and can't wait to visit. >> the new show starting at 11:00, congratulations, don't tell john scott i will be watching. connell: will do our show but you can come in your pajamas. then jump in the shower. >> stuart varney in a towel. a way of wishing him good luck. >> good luck. ♪

stuart: we spoke to mike rowe,

former host of dirty jobs and the of voice behind walmart's pledge to put $250 billion to create american manufacturing jobs. >> 3 million jobs according to be l s, may not be true, 3 million jobs, 80% do not require a four year degree, people don't seem to want them. we have money to kids to train them for jobs that don't exist anymore. if they say in britain it is quite mad. stuart: forget the british accent for a second. the judge is -- can't keep him out of anything. he is saying mike rowe is saying, what is going on here? saddle's with debt.

>> getting more money. it is a separate issue from the debt and the fat cat academics overcharging for things like gender studies who will not get a job in the workforce with those guys. stuart: we are never going to agree. i don't think college is for everyone. >> scandinavian countries, get a technical background in fixing cars or something. stuart: i don't take my advice from scandinavian is. >> every kid in america is told that have to go to college or they won't prosper. there are a lot of jobs that don't require four your education that are not getting build. center for college affordability reports 1970, 1% of taxi drivers and firefighters have four year degrees. 15% of taxi drivers are driving around with college degrees and firefighters when they don't need it. why are we telling every kid that they have to go to college?

the cost of a college degree, and that is what is wrong. that has to come down. college degree will make more money in the work force. stuart: when you bailed yourself out with that. the fcc wants to put researchers in newsrooms across the country to, quote, identify and understand the critical information needs of the american public. sounds like big brother to me. newsrooms across the country should be mad as hell. i think the judge is. >> i take issue with one word joyce in your intro. they are not researchers, they are federal agents, may not be carrying sidearms, agents of the federal government to monitor our behavior and report to their bosses about what they see. could you imagine your very best to production team when they start their work at some ungodly

hour, having federal agents on their shoulders, the wonderful -- why did you choose that story? why did you judge the judge going crazy? stuart: your interpretation of what they would do. judge napolitano: that is my interpretation. they are so unfamiliar to have government in a newsroom we don't know where it will go. stuart: why are they doing this? peter: pam- judge napolitano: for every 0 riley you have a geraldo, picking on a number of friends and colleagues that they don't agree on much. guess what? that will mean no o'reilly and no geraldo rather than one to counter point the other. we won't have talk radio anymore. >> to decide to is geraldo and bill riley? judge napolitano: they will decide.

when things are fair. the fcc. there is a doctrine called killing. chilling means you are afraid to exercise your first amendment liberties because it might displease the government. there's not a single case in american history that supports chilling and every judge has condemned it. it permits absolute freedom when choice of story and words. stuart: maybe they will get away with this because there is no legislation required to put these monitors into our newsrooms? it is a decree. judge napolitano: what i would say to our department here and our boss, the fcc shows up kick them out. and they will never get -- -- charles: what the robbery a is

doing -- stuart: i am not -- you want a victory. judge napolitano: a small voice with a loud chorus. stuart: we brought the story of homeland security, take pictures of license plates, beam them up to the database and find out who is driving the car. only momentarily. draw that after your explosion. judge napolitano: the explosion was unanimous and from all across the board. one of those who exploded was a democratic congressman from mississippi whose name is escaping me, ranking democrat on the house civil liberties subcommittee of the justice -- he exploded not because it violates freedom or privacy but because they didn't bring up past the congress first. he was more interested in who has the power to do this, not what liberty is being interfered

with. there is another broadcast but the net effect by the end of the day. 9:00 last night they pulled the plan. almost called you on the phone but you were asleep. stuart: invasion of privacy, thanks, judge. what is that? 55 employees worth $19 billion. big money, not that many jobs. my take on that is next. [ male announcer ] hands were made for playing.

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stuart: j.c. penney, a research firm says it might need more cash. don it goes. the latest climate change hysteria, hotter temperatures will cause more rapes and murders. that is what some are saying. next we have the ceo of overstock.com. how does that compete with amazon? we will put him on the spot. s something extraordinary going on. it is not receiving the attention it deserves, the most dynamic companies are employing virtually nobody.

concentrating wealth but hiring very few. here's my take on what is that? you know the story. facebook is buying that for $19 million. it has 55 employees and they don't need any more. in the digital world you don't need people to push around, just need computing power and hook up to the internet. fast-growing tech companies are not going to supply those jobs. no ideology is involved. and what we are dealing with this reality. jim needs of 55 people to service a half billion users. and $19 billion in wealth, $345 million each in wealth creation. neither the republicans nor the democrats and certainly not president obama, none of them can wave a magic wand and make these tech companies get out

there and hire people. our tech economy doesn't work that way. it doesn't need people. an alttrnative job creation program, bring manufacturing back with chief energy, no union work rules. it takes people, lots of them to make things. and please stop beating up the financial business, bashing the banks has not helped employment that hasn't encouraged more loans to businesses. policy has to change to create conventional jobs. it won't believe the technology sector, just the fact of modern life. is leading our economy, that is where the money is flowing, where the wealth is being created and concentrated but it is not going to create many jobs. this is not your father's economy. is it? [ indistinct shouting ]

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stuart: facebook buys one apps for $19 billion. did they overpay? sandra: that is going to pay out. at least users pay a small fee to use the thing. $0.99 a year. stuart: they are not going to

have any ads. twice as many users as twitter. this is a really interesting deal for a lot of reasons. will get a lot of attention. stuart: if they only charge $0.99 a year. and a billion users, $1 billion a year is not much as paying $19 million. facebook is paying 10% of its market caps. it is sort of the valuation is the same google paid for youtube. stuart: remember snap chat? they turned down a $3 billion offer. sandra: $3 billion? holy mackerel. and facebook's similar deal, and that is out with some elbows

shots, he is not 100% clear what the business model, direct quotes from what is apps co-founder going after snap chat. stuart: it turned down three. oh they. online retailer, over stock. discounted itunes. how does a company like that compete with amazon? let's ask patrick burns? overstock.com's ceo joins us right now. i know you have a lot to say about this. amazon kind of guy, i know how to use the system, why should i use you instead of amazon? >> it is 10% lower. >> prices are 10% lower. and every industry and such always ends up -- amazon having

the top three customer satisfaction and service, so docking those three positions and our prices are lower. we have a different loyalty program but it has been recently called by consulting group the most generous on the net where we give you cash back and things like that. we are nicer guys to deal with. stuart: there's a rule in television. when i ask a question you may not provide a three word answer because that really stymies me. i don't know where to go after is that. i am left holding the bag but you bailed yourself out with a good follow-up to the question. well done. anything else to say? >> another way we compete, normally i am not told my answers are too short but the other way we compete is we are more profitable. people don't notice -- we were more profitable, absolute per-share basis and last year we are profitable on per-share and

i don't think -- that is another way we compete. "imus in the morning" when you have as i understand it 1,492 employees. >> we do. stuart: what do you make food the push of a minimum-wage of $10.10 an hour? you go along with that? >> no. all our reporters are over minimum-wage. that wouldn't affect anybody but is a horrific idea for the united states. when you raise the price of something people buy less of it but you may notice last time you went to us store and tried to buy something for nothing when the government, this is insanity, demagoguery, i can't believe the economists, some of them are friends of mine who signed this letter saying it won't affect the labour market, terrible idea. they want to get rid of unemployment, they should eliminate the minimum wage and especially if you are concerned about unemployment about minorities and having minorities have a chance to start climbing the ladder get rid of minimum-wage altogether, until we have a minimum wage black and

white unemployment are about the same. when we have the minimum wage black unemployment doubled in the state, double white unemployment, since the 1950s. stuart: one last one, but coin. you accept it:as payment. i am not sure how you work out of value system. if i agree to sign up to pitt:the value of bitcoin could be 20% up or 20% down. how do you establish a price with bitcoin? >> it is a liquid market with a lot of volatility. we don't accept any volatility risk. we accept it:and immediately instantaneously translated into dollars. as i recall you are a bit of a gold bug. some of the virtues, the charm of goals can be found in bitcoin totally limited. stuart: i am not a gold bug. i do not wish -- we will never

return to the gold standard. i own some goals, just ahead against estate taxes. that is where the gold bug thing comes from. one last one for you and this is real fast. you are accused of faking discounts, that you say this item costs $100, you will discount it in 50% and bring it down to a price you wanted to sell a 4 in thplace. is that accurate? >> no. first of all the doesn't affect the fact the we are the lowest price on the internet. secondly we have been, we are i think the gold standard since at least 2008. we have had teams of people. you can't imagine how much work goes into finding comparison prices, getting them right, having lawyers sign off on a process which we have bent over backwards. there is always sort about liar cases, a million products lose someone lied to was in one case

and we sold 60 units at the wrong price. we are fanatics about getting our comparison price is right and our own prices low. stuart: thank you, patrick byrne, overstock.com. you bail yourself out well after the first answer and i could hardly shut you up. was great and appreciate you being with us. thank you very much. dow recovering a bit of 50 points and then the latest hysteria from the greenies, global warming will bring more crime, murders and rapes from hotter temperatures. dr. keith ablow next to calm everybody down.

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t me just put this away. ♪ could you teach our kids that trick? [ male announcer ] by not acting that way. it's how edward jones makes sense of investing. stuart: facebook what is apps deal not the only thing going on today. there is more. visa, mastercard making easier to pay for things, no wallet required, tap your phone, papers. safeway exploring the sale of the company. gap stores voluntarily raising the minimum wage, $9 and more. gap is not responding, $0.14. week profit forecasts from walmart, down it goes. getting on to facebook, what is the deal? blackberry has its own instant

messaging apps up 4%. and it may disappoint. it was down $1.42. up next, what the heat can make you do.

sometimes they just drop in. always obvious. cme group can help you navigate risks and capture portunities. we enable u to reach global markets and drive forward with broader possibilities. cme group: how the world advances. stuart: criticism for mattel because it came out with a barbie doll called entrepreneur by be. what is the criticism? liz: potentially could be

pandering to mothers who want their female children to grow to be entrepreneurs. i don't think there is a problem with barbie, coming fast on the heels of supermodels barbie. i don't have a problem with that at all. i have a baby girl, i consider myself of by the expert. i grew up with a barbie. knows. and barbie being a computer engineer in 2010 facing similar things. this engineer, entrepreneur real barbie carrying a smart phone, tablet, briefcase. is so silly. stuart: you have kids, you have daughters. what do you think? is this pandering to women? >> i think it is great. a lot of people criticize barbie for somewhat unattainable body image and the like but body can be just about anything, she is

fictional, she can be offered for nor, a doctor, gorgeous and a swimsuit and sports illustrated, and over many years they have to keep reinventing her in order to sell more by thes. so this is one more barbie on the shelf. stuart: nonsense if you ask me, this fake criticism but that is my opinion. secretary of state john kerry compares climate change to terrorism and now this. a new study reported in the l.a. times says global warming will bring a rise in crime specifically rapes and murders because people get violence when it is hot. we had to put this on the couch. doctor keith tableau is here. really? hot weather makes you go out and rape, pillage, burn and murder? >> i suppose it could be true that in crowded city environments, if temperatures skyrocket during the summer there is some correlation with increased crime but that is not necessarily simply because of the temperature.

because of variables about the folks who are living there, about many other things like drugs and alcohol and so the ideas that climate change is going to result in peeple attacking each other if it were that simple, we would handout air-conditioner is. if we want to imprison people we give them central air-conditioning. it would be much cheaper, they would stay at home and wouldn't rob anybody. it can't be that simple. stuart: thank you for nailing that on the head. facebook pays your favorite company $19 billion for instant messaging service called whats apps. >> listen. if i were a drug dealer like facebook, i would sell works to every heroin addict. i would give them away to mainline lowestoft and this makes perfect sense. whats apps being a hydraulic

syringe to get the drug into your system. they should be buying it because they're in that business. stuart: come on. you cannot compare facebook to drug dealing. you cannot do that. >> the only lack of comparison is they make more money than your average drug dealer and their drug is more pathological. other than that is the 1:1 comparison. it disempowers people. stuart: sorry to interrupt you. she do you really see people who are absolutely addicted to facebook? they got to go on facebook, got to get their fix? addicted to this drug of social media? you don't see people like that? >> i do. i see adolescents coming in his eye don't want to worry about when i post a picture i get lots of likes but i do worry. why are we worrying our kids over nonsense of making them reality tv stars in their own

existences instead of genuine human beings? now what do we have? what is apps is a way to fake that you care about people. takes no time at all to send a message, don't even have to pay for it. drug addicts live. that is one of the core problems with being drug-addicted, won't face the truth and we are allowing people to lie in bigger and faster ways. is that it? stuart: that is it. >> i have a facebook account. that is the problem. i am on the drug too and i know it. stuart: it is always pleasant having you on the show even if you are a total extremist and utterly wrong. >> i should be more definitive in my opinion. stuart: we want definitive answers to questions on this program. see you soon. john stossel went back to college, looking to see if

liberty exists on the campus. here is some of what he did find and he is next. >> 1500 college students from all over the world are gathering to debate what makes for a free society? these are our future leaders. glad they are learning about the most important thing, liberty. consumers usually don't learn much about that in school. tonight what you ought to know about economic -- but (vo) you are a business pro.

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>> congratulations on your new show from 11:00 to 1:00. i will be watching to figure out everything you say that is wrong and what i say is right. stuart: i really like bob beckel despite what he says. bob joining the chorus of fox colleagues. starting monday we start at 11:00 eastern and go to 1:00, two hours, good stuff planned for the opening week including the guys who did this. >> i kind of let go of it because i can act like a hot stove. >> we got -- stuart: those are the guys who dug up the steve jobs time capsule.

they will be in studio on monday. all week long we have special guests including the women of fox news, meghan kelly, andrea tantaros and elizabeth hasselbeck making her appearance, good stuff happening next week when stuart varney goes to new time at 11:00 a.m. eastern. a modest rally, 60 point gain, 60,099. this week john stossel went to our nation's capital to talk to 1500 college students about personal liberty. he says this is something students don't learn about in school. john joins us now. did they feel that they had real freedom that they could exercise? john: by and large it is a free country. this is a student for liberty conference and these are my fellow libertarians and thankfully there are more of them and stupid ways the government or their universities

restrict their freedom, campus speech codes. wellesley is not the worst and like this example, the statue, the sleepwalking man is upsetting them is a little creepy and some are demanding it be removed. it is a sample of the hypersensitivity, this victimizes me. stuart: you can not be offended. if you offend one person that person can complain and ban what you are saying or doing. john: then you get the tyranny of the most easily offended. they govern everything. stuart: what about smoking cigarettes? john: taking a hit? these are wonderful things. no smoke that smells, no first hand smoke. they help you start smoking,

charge it with a battery. you would see it. and band on a bunch of college quote campuses. stuart: when you say that is a restriction on your freedom. john: you just want to look stupid and smoke -- stuart: you took your message of personal liberty to that college, 1500 fellow travelers and the message was well received. some became libertarians. i have a charity that gives them a high school teacher. stuart: libertarian feeling is castrato on college campuses. you want to legalize all drugs, isn't it? john: that maybe plays a small part. i think students have a good sense, learning about the constitution, they say the

government was supposed to be limited. what is going on? stuart: you are on at 9:00 tonight. we will see you tonight. a lot of responses with mike row, the dirty jobs guy. we will bring you those in a moment. [ ctor ] and in a inical trial versus litor, crestor got more high-risk patient badholesterol to a goal of under 1. way to go, crestor! yh! tting to goal is a big deal, especially if you have high cholesterol plus any of thesrisk factors. because you could be at increased risk for plue buildup in your teries over time. so, when diet a exercise aren't engh to lower cholterol, adding crestor can help. go, crestor!

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find out if your business can qualify at start-upny.com stuart: last our former dirty jobs host joined us. you had a lot to say about that. i agree with mike and walmart. we become a leader again without the union mentality. a concept our country used to live and die by. connell: facebook.

chilling out $19 billion for what's app. new trouble for the keystone pipeline. what could that mean for thousands of american jobs. something we will be talking about just ahead. peter barnes, at this hour exclusively talking with the u.s. trade representative. stay tuned for that. the powerball fantasies are over. winning $425 million. someone got that ticket out in california. ♪