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tv   MONEY With Melissa Francis  FOX Business  March 10, 2014 2:00pm-3:01pm EDT

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i've been watching "house of cards." melissa francis is here to take us to the next hour. melissa: laugh me netflix. obviously the big story -- love me. malaysian airlines flight. we have pie lost and analyst whether live black box technology is finally coming and what is the cost to airlines and passengers. did you hear about the new taser drone, the taser drone? it could shoot bashed taserses bashes with up to 80-volts electricity? i'm talking to the company's cofounder -- bausch. barb. charles payne versus. icahn versus buffett. even when they say it is not it is always about money. melissa: all right, get ready for a wall three throw down. who would you bet on, icahn or
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buffett? berkshire hathaway is performing better than icahn industries. that doesn't mean necessarily you shouldn't follow uncle carl, according to scotty markets. charles payne behind buffett. then we have fox contributor scott martin. i love look of it. [whistle blowing] don't laugh. this is very serious. make your case, charles. >> warren buffett speaks to the audience watching the show. he talks about investing, investing for the long term, finding great companies, typically great american companies, riding them through the ups and downs to the obvious finish line. he is not bullying companies. not going in for a quick fix. not trying anything. listen, i don't knock anyone's hustle. i think if you're -- melissa: scott, you better get in there. points are racking up. way behind. hurry, hurry. >> i will knock the hustle and
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hustle into this. i do like the bullying. guess what, in the booed room? at ceo level these guys need to be bullied because they take advantage of shareholders. that is why icahn is so great. i think both of these guys are great. i don't think buffett is the shareholder's best friend like icahn is. icahn is the guy that walked in, hey, mr. and mrs. company, you're doing something wrong, screwing shareholders or we'll take you out. >> no, he doesn't say you're screwing shareholders. you're sitting on a bunch cash and i want to take it! that is what he says. like the al capone of investing, are you kidding me? this guy goes, we'll make you an offer you can't refuse! >> charles, icahn enterprises versus berkshire hathaway has kicked berkshire's butt. if you want to make money you buy icahn enterprises, you don't buy berkshire. melissa: unwith of the ways buffett has made money he always has cash when everybody else is desperate for it. whether insurance situation or goldman sachs during the
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financial crisis and able to charge an exorbitant amount to lend it. >> melissa, he is not playing by main street rules. buffett is calling somebody from the cordless phone in the bathtub which is kind of dangerous and getting sweetheart deal from goldman sachs, 7.5% corporate bond in the financial crisis because they need money. melissa: right. >> icahn is going in, saying, you know what? i'm walking off the street. if you have line one and line two in your office and ceo and buffett and icahn you're taking the buffett call because you're afraid of who is on line two. i like that guy. >> you respect buffett. you really do. you know that this is not a guy coming to shake you down. this is guy who will have some sort of public fight with you to try to embarass you, to harass you,. melissa: that is good point. >> here is the bottom line. if i'm a ceo i have a five-year plan. i don't have a we're going to change your business model today because we have a corporate raider who will embarass us, harass us and try to change the
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board. if you're an investor and you want to be a great successful investor, read warren buffett's letter. melissa: oh, it is tied. it is tied. >> tim cook and he talk every other week. they have dinner together. >> tim okaycook probably cringes every time that phone rings. [whistle blows] melissa: oh. look at bottom of the screen, charles payne pulling ahead by a point at very end. >> fbn. >> getting a call from carl icahn tonight. >> i might. >> arbitrary but i love it. thank you for fighting fair. appreciate it. >> i got the belt though. melissa: there you go. look at markets now. we're watching netflix today, that was fun, right? investors are tuning out. brian sossi at new york stock exchange. they were talking about this last hour but not about this angle in particular. popcorn time, open source project for programmers and designers is allow being people to go in and stream all kinds of things, movies. getting netflix out of the way.
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see an american household this way. is this problem for net mix. >> not battle charles payne because that guy crushes. netflix, business is ultimate low barrier to entry. if imnetflix shareholder i'm sit worried worried worried about developpings sitting at home not going through studios for licensing fees. you're paying for to legally watch videos. am i worried about this? yes, going forward because netflix shares are valued very aggressively. they don't have many competitors in the marketplace, just amazon and hulu. melissa: that's true but quality of what you're watching counts. i get annoyed as netflix is buffering for large period of time. i can't imagine what this is like. >> by all means. i'm not a net geek. they let you tap into torrent. quality of video is better on netflix and better on amazon, southernly on hulu. but getting free. free is very compelling to user.
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melissa: free is very compelling. brian, thank you very much. >> thank you. >> we're five-year bull market, s&p still near the all-time highs. can the bull run continue or is the market starting to skid? what about the nasdaq? jonathan hoenig fund manager at capitalistpig.com. fox news contributor as well. what do you think about the bull market? is it running out of steam? >> melissa, good afternoon. i think it is intact. you mentioned we're five-year anniversary but bull markets typically take time, take more than five years, look back at the 1982 to 2000 bull market. despite at all-time highs and slipping a bit today the breadth is still positive and i think the bull market is still intact. melissa: although when the fed turns off the tap do you think that has as big impact as people are concerned? >> without a doubt what make this is period different, melissa, is the intervention from the federal reserve. no one knows what happens once the policy reverses course. that being said i think retracement is probably likely
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but i couldn't abandon stocks wholesale. you look at every opportunity to try to sell this market, always regretted it. melissa: the nasdaq is really interesting story. 14 years ago today it closed at its all-time high. we're back at a point. still 16% off that level, since the one, ostensibly lagging, so built up at the time. we're still in a period though where it feels like tech is in a bubble again all of a sudden. feels like we're repeating our mistakes of the past and look at what's app and go to silicon valley and talk to people. what do you think, are you nervous about a tech bubble? >> i remember 1999, melissa. this is no 1999. 1999 you had cab drivers talking about borrowing stocks. people borrowing money from their credit cards to buy stocks. don't confuse a bull market we are in to a bubble in 1999. melissa: we have kids who made an app out of nothing, selling it for multibillion dollars. nobody has any idea how they will ever monetize what is going on the app.
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feels like a bubble with a slightly different shape? >> well a lot of those apps are being monetized, melissa. look at facebook. look at instagram. look at twitter. a lot of these companies which ad met he hadly have high valuations are beginning to demand the revenue to justify the valuations. >> instagram will put up ads. people will say i'm never going to inis a gram again. the whole reason i used it because you put up a picture and went away. the next app is hotter. facebook is all senior citizens now. seems like app -- >> somebody better tell the stock. somebody better tell the stock because it is at all-time high. i don't think you can buy every stock wholesale. look at grain markets. a lost commodities are doing well. don't sell a market short because it is at an all-time high. that is best i indication the trend is higher. melissa: we'll get you into the ring for the throwdown at the top. seems like you're ready for that. >> i thought charles won, just
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my opinion. melissa: he did. don't underestimate scotty markets he knows what he is doing. >> for sure. melissa: talking through the malaysian airlines disappear flight and the debate over live black box technology. boeing having a bad day from the unexplained malaysian airlines crash to cracked in the winswings of at triple 7. we'll show you how much it is down. more "money" coming right up.
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melissa: the search for any trace of the malaysian airlines flight 370 stretching into its third day now. still no leads on the whereabouts of the plane that seemingly vanished into midair. 40 ships, aircraft from nine countries are now scouring the seas near the gulf of thailand as families of the 239 on board await for word. a debate is emerging whether updated black box technology could have offered vital information? it is our "money talker" today. joining me james freeman from the "wall street journal." mike boyd, aviation consultant. captain sean cassidy, who serves as the vice president and national safety coordinator for
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the airline pilots association and chatwood investment managing partner jared levy is with us as well. captain cassidy, let me start with you. how would this be different if we had the live black box technology? >> i think the conversation may be needs to shift a little bit because black boxes as i think they're being described are talking about taking a massive amount of data off an aircraft and then transmitting it to a third party. now if you consider the fact right now there are probably 50,000 airplanes that are flying internationally right now that are airborne at this very moment, the ability to get massive amounts of information not might not only be a technical hurdle but might be a infrastructure one in terms of managing all that data stream. i think what we should really be talking about is, what available technologies are out there right now and what could have been used to pinpoint the location of the aircraft because then you could get the flight data recorders and analyzed what happened. melissa: i hear what you're
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saying. mike, i want to bring you in. they have looked at this in the past. they said, yes, it would take a lot but cost $300 million a year to transmit the data via satellite off the aircraft at the time when it is flying. there is inherent problem with the black box going down with the ship. i mean they have, it has information in there that is vital to figuring out what happened but we may never find it. what is your opinion, mike? >> well, i think the captain is right. there are logistical issues of streaming everything on that airplane to a third party. the real reality here is it down happen all the time. it is one of those things where this is the 12-year-old airplane of a fleet of about 1500 that have been built and only one airplane ever had a mechanical failure that caused an accident. that was british airways. this is an airplane that really reliable. so the whole argument here would be great to have now but going forward, are we going to gum up the airwaves or internet or whatever with a lot of
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information from those 50,000 airplanes he just mentioned? it is an issue. melissa: well,do you think. >> certainly you look at the trend of history and a lot more is being recorded and then transmitted but one question before we get to how to fix it is what exactly happened here? there is supposed to be transponders relaying information on the plane and then, if it did crash, the typically the there is a beacon sent out, a location signal that allows people to get that black box to get to the accident to find out what happened. first we want to know what we're dealing with here before we design fixes. melissa: jared, how critical is it to the industry that this question be solved? or is this a tragic and freak accident? >> well i think first of all we need to get to the root of the problem. i talked to two of my friends, they are both captains on the 777. understand this, that plane is sending out data. if there are abnormalities in the functionality, boeing is directly receiving a data from a
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lot of those 777s. keep that in mind. there could be information we don't know about. the military probably has better information over there where that plane was at any given time. melissa: okay. >> i don't think we're getting it all. that is something we need to know. the other thing the wingtip being prepared i don't think that is cause here. as mentioned earlier, it is a very dependable aircraft. my opinion right now it is learning what caused this. melissa: captain, what do you think about that, does boeing have more information than we know and are they sharing it? >> i couldn't possibly speculate. i do know they have programs for the jet i fly as well which they transmit performance data to assess the health of engines and avionics systems and everything else. that may be different than the suite of data you're talking about if you're talking about transmitting a whole host of data. other guests are right on the mark though. first thing we need to do is locate the airplane. there is technology that could have been on the airplane, satellite based technology that
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could have told altitude, airspeed and longitude of the airplane. we need to fine the plane. melissa: wouldn't woe know that by now? it does seem mysterious we don't know where the airplane went down as james said. we have beacons and all things an that shouldn't be as much of a mystery right now still. >> that is why it is a mystery, so strange of an event. how many parts of the airplane hitting water. nothing is floating as far as they can find yet. one of the things if this airplane is flying along and normal, something immediately catastrophic happens all the censors in the world are blown up with the airplane and we might not know exactly what really did happen. melissa: we've got to leave it there. thanks to all of you. we appreciate your time. coming up senator marco rubio, rich edson and i are getting all the details on his plan to increase jobs and grow the economy. a first on fox interview. you can not afford to miss this. it is very money. do you ever have too much money?
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melissa: from the u.s. to every corner of the globe money is flying around the world today, starting in china where auto sales jump 18% last month to 1.3 million units. ford has seen sales rise at their fastest pace in more than six months as local consumers warm to foreign brands. general motors says deliveries jumped over 20%. and japanese automakers also doing well. they're seeing more of a recovery in the country after many chinese consumers started boycotting their products in 2012. over to india where tech giant google could face a $5 billion fine from the country's competition commission. it is accused of abusing its position as the biggest internet search engine. local businesses claim google's
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unfair use of trademarks and over paid searches. hmmm and its own products. if so local authorities are allowed to slap google with a fine up to 10% of its average annual turnover. landing in the u.k. where soccer club royalty man chess ture united is set to make over a billion bucks from a deal with nike. the existing agreement runs out next year but nike wants to extend it decade that could cost $100 million a year. nice. a lot of money. want to show you shares of different 3-d printer makers. article in "barron's" says beware of 3:00 d printing. investors are overpaying for stocks that investors are getting in too early and prices are too high. there you go. turning to unbelievable new drone prototype fierce enough to make "robocop" twice. chaotic moon labs unveiling a drone capable of firing 80,000
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volts of electricity into its unsuspecting victim. capable of incapacitating and can you imagine? flying over head and -- william hurley the cofounder of behind the company of this terrifying drone joins us by phone in a fox business exclusive. i know you look for people to call you whirlly. that was your handle on twitter. you're creating quite a buzz so to speak. are you for real? >> that is exactly the point. important to note we're not immediately releasing this drone. unlike most of our projects before, we'll open source the code and schematic we won't be releasing any of this this is specifically to help raise awareness how fast technology is outpacing things like regulatory control and social norms and other things and kind of to create having a conversation around technology. melissa: we're watching video which is crazy. that is not an actor right? did i read that is your intern?
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>> yeah. yes, well one of five volunteers that went through a program for about three weeks where we did physicals and testing who would be the best candidate for that. jackson is the gentleman you see in the video, obviously you look at him, pretty robust guy, great shape, beat everybody else out. melissa: how did you compensate him for this? i mean is he unpaid intern? did he get something special? does he have a job for life? >> well, yeah, he actually got a, whoever the -- it is quite a large bonus of several thousand dollars as well as you know, very excited about the technologies as his major at university of texas. he actually helped build the drone with us. that is one of the people on the project team. melissa: he looks very excited laying there on the matt after being tased nearly to death. not to death. i'm just kidding. so what is your, what drone would you like to work on after this? i mean is it a prototype for law
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enforcement? i understand you're trying to make the.that drones, you know, are outpacing any sort of regulation. what's, do you see a specific danger or where do you hope to go with this? >> so we see a lot of opportunity for drones. service drones could be very useful in everything from search-and-rescue to multitude of other variety of applications. we also see there are important process technologies to help take a lead on kind of pacing that and having conversations. right now, legislation -- legislators have conversations about things like this. entrepreneurs and investors and, they have those conversations. however the public doesn't have those conversations enough and you and i, as members of the public, members of the society are ones affected the most by all these technologies. melissa: yeah. >> we feel there should be more open, broad every conversation, so we can have -- melissa: i hear you. i herd you create ad drone that
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would knock paparazzi drones out of the sky or is that true or attention getter? >> no, that is true. this is one prove projects that we were asked to build. it allows you to find other drones in a property line where they're trespassing on private property. and -- securely, essentially would be knock them out. air. melissa: amazing. i hope your intern it doing well. i'm not sure a few thousand dollars was enough. thank you very much for coming on. >> he is doing amazing. he is enjoying his -- melissa: 15 minutes of fame if you will. four year anniversary party, 30 ladies wanted to make sure he was okay. he seems to be doing all right. melissa: thank you so much. up next, the big banana deal. chiquita and five looking to build a bill dollar giant. -- fife. we'll go to the cme for latest developments. who is making money today? this reknown venture capitalist is locking horns with carl icahn
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lately but liking all the money he is making. stay tuned to find out who it is. "piles of money" coming up. ♪ if you've got copd like me... ...hey breathing's hard. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder
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csx. how tomorrow moves. >> du quoin bites back. firing off a letter. does it sound reasonable? the congressman joins me now. he laid out his case for why bitcoin should be banned. you took out the word bitcoin
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and put in the word dollar in each case. it makes a lot of case. let me read the first statement. the dollar bill market has been extremely susceptible. he said bitcoin. you replaced it with a dollar bill. it works the same. >> absolutely. briefcases full of cash. that is what they are doing. you can use anything. if your goal is to get rid of commerce, why not bad commerce altogether. >> let me take the mantle for a second. plenty of pieces of paper can fit in your pocket. they were talking about bitcoin. it is true for the dollar.
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they are also a method for transferring value. going forward, this is hysterical. you point out all of the problems with the dollar. >> absolutely not. if you are talking about -- can you pick up a telephone to do something illegal with a telephone? yes. the answer is not go after the currency. let's abolish currency altogether. that is just a silly thing to say. i guess that that threat in some people. it is a great opportunity. >> that is the argument of it taking it to the next level. it is not unlike a check. it does not really restore
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value. >> the bitcoins does leave a transaction trail to where it is. if you will believe it has value -- our hand, you can trade it for something else. why is this piece of paper worth $100 in this piece of paper worth $1? congressman, thank you very much. appreciate your time. >> pleasure. >> creating the world's biggest banana provider. a lot of people talking about this one today. >> that is great. bitcoin or banana.
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i do not know if they are the same or not. this is not something totally new to the market. we saw smithfield acquisition to the market. it is something that will probably continue as we see some of these market kind of consolidate. >> what does it mean for consumers? >> well, they will be about 15% of the market. they have more pricing power. ultimately, i think with banana prices on the way down, they will not have as much power as they thought they might. it will not be that big of a difference. everything out in three hands instead of four. it could be a little monopolistic. right now three is okay. >> thank you so much. a fashionable way to join the rage wars. now you can dress as if you work at mcdonald's. look at that sweater.
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some of these are completely sold out. you will not believe this. at the end of the day, it is all about money. ♪ ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. a research tool on thinkorswim. but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer.
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the sales peddled the antitrust lawsuit against the american u.s. airways merger. lawyers from two firms will join gm general counsel. the faulty issue switch has led to 13 death. -- $148 million in debt. we are watching the markets. that is the latest from the fox business network. giving you the power to prosper. ♪
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>> anyone with a slice of facebook is making money today. shares are soaring. ubs looking for $90 a share. up from 72. just over $71. finally some good news for mark. caught in a war of words over ebay. just under 2 million facebook shares. he just made an extra $4 billion. like he needed it.
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classified ventures is said to be in the early stages of selling auto sales website. it follows last week's sale of apartments.com for just over half a billion dollars. also making money, the hard-working american public. that is who. fannie mae and freddie mac could return within $179 billion to taxpayers over the next few years. both companies have turned profitable once more. it is time for a little fun with spare change. consumers are loving a new fashion collection inspired by mcdonald's. some of the pieces are already selling out.
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i was looking at the $1265 leather bag. it has a big mcdonald's on it. i was thinking, i am not loving not so much. what is going on here? >> i think it has to be a italian for "what the hell were they thinking." i think what they are thinking was a fashion designer poking fun at pop culture. >> it is ugly, first of all. that is one huge problem. most of the pieces have sold out. i can understand if you say fashion is art. but this is a runway show and they are trying to get attention. they are trying to make a statement of some type about how much they love this stuff.
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people actually went and bought this stuff. this i do not understand. >> when they went into bloomingdale's, the sales associate went, do you want accessories with that? when was the last time you worked in a mind? j. crew sells redwing boots. the fashion statement is not new >> it is an interesting time to go into this with mcdonald's though. there is all this conversation about how they are not paying "a living wage." it is not a favorite brand right now. the clothing inspired by mcdonald's. this is mockery.
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that is what one person said. >> mcdonald's had nothing to do with this. how it affects the mcreynolds brand is really and ancillary argument. >> they sell their stuff and target also. maybe this is a bad idea. they do try to appeal to target. >> katie. is wearing it. different stars are wearing it. the fact that you are not loving it does not matter. >> the iphone case is not that. beyond that, i am not buying it. we are counting down to "the
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closing bell." liz: have you gotten the qualcomm smart watch? >> i have looked at it. liz: apparently, melissa, as we cover technology, it is going widespread. all over the place. is this stretching the membrane of our security way too thick? we have the ceo of a company. three. security for all of your mobile and wearables. it is free. we have the ceo. he sees this. the stock up more than 40%. this has the makings of everything a business deal really wants to see. how to spot companies. we will give you three of them. how to spot companies that have an advantage over all of them.
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we have a good friend of the broadcast. >> i love it. that is a good show. thank you very much. marco rubio unveiling a sweeping new agenda to get our economy growing again. he is here with the details. do not move. you can never have too much "money." ♪ when does your work en
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>> i want to alert you about what is happening with american eagle. investors are looking ahead with caution, to state the least.
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comparable sales during the holiday season. it has been a rough ride for these folks. they have earnings out after the bell tomorrow. a fierce battle for customers. taking different strategies on prices. jo ling kent joins me with more on this one. getting harder and harder for t-mobile to say they are the low-cost option. >> that is right. they are at it again.
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at&t meets that deal with lowering their prices. some customers will see their monthly bills. that is for two gigabytes of lte service. you are a day late. you are a dollar short. the real question is, will they be able to take a bite out of their rising domination at this point.
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>> thank you so much. marco rubio laying out his own plan to boost economy growth. we will be right back. ♪ peace of mind is important when you're running a successful business.
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>> marco rubio laying out his own plan to boost job growth and get the economy growing. let's go to rich had said. rich: good afternoon, melissa. we are here with florida senator marco rubio. the republicans have been criticized by a number of critics. they are not for anything. they are just opposed to anything with the president. do you agree with that? >> the democrats are not
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necessarily a wash for new ideas either. now do i think that republicans need to do a better job? sure. of course. the economic challenges are largely because of the rapidly changing economy. rich: you talk about tax reform here. >> i dow i would support it as it is currently structured. i am working on my own tax reform plan. our belief is that you can dynamically score these things. we have seen the tax reductions properly done in the past. we think that is important. the most important part is to have a pro- investment tax code. one that convinces companies to invest their profits in america.
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rich: you did not mention immigration reform in the q&a. do you think that that has any result? >> i think my position is well understood. we did not mention it today. i think a legal immigration system that works, it is part of the future. i think it is important. >> you opposed janet yellen. we are short into it. she has continued the reduction in bond buys. are you at least encouraged that she is beginning to pull away? >> i think that anchorage is too strong of a word. we think it will actually be very detrimental. obviously, people are able to afford the stock market.
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look at the erosion of wealth that is happening to everyone else. we will have more to say about that later this year. it will have a long-term dramatic impact. rich: you do not regret your vote? >> i do not. rich: you mentioned the g-7 and the gaa. you almost jokingly said maybe it will be the g-7 again. do you believe that russia should be kicked out? under at least vladimir putin, it certainly is not a democracy. it does not behave as a democracy. i think the g-7 or the g-8 should be a group of advanced democracies. rich: you are saying proved them right now. >> yes. they will have these fraudulent
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referendums. how can you have a referendum about whether you could join another uppity when that current country is occupying them. >> rich, thank you very much. very interesting interview there. let's go to women's leadership organization. launching a new campaign today. the goal is encouraging girls to be leaders without the negative connotation that comes with the word bossie. do we have rachel with us? i was called bossie all the time when i was young. i said to my son the other day, though, do your friends accuse you of being bossy. he said, what does that even mean. >> we have this very conversation in my house this week. name over name was girls.
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finally, my mom -- my son said, i do not know any boys that are bossy. when boys lead we celebrate that leadership. when girls lead, we use words like bossy, aggressive, pushy. they make an impact. >> is there something in teaching all kids to be more effective leaders? does it have to do with the approach? >> stereotypes are very powerful. when they leave, we expected and we celebrate it. when little girls do it, it goes against that stereotype. we discourage them. one of the words that we use is bossy. >> do not be bossy, rachel.
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thank you for coming on. i hope you are coming on and making money today. ♪ liz: the internet of things proliferating our world, but is this secured westmark breaking into one server could cause a hacker to ransack thousands of homes. technology ceo to the rescue. he is security your universe for free and his stock is skyrocketing. a first on fox interview. the search for a missing boeing 777 airliner carrying people from malaysia to china is growing. was this terrorism were an accident? we will see what this means for boeing stock. the

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