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tv   After the Bell  FOX Business  March 14, 2014 4:00pm-5:01pm EDT

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there. [closing bell ringing] here we go. the bells ring and close the session for the week on this friday afternoon. we look at stock market that is finishing for the most part to the downside although off the earlier lows of the session. at one point we were down more than 60 points. but the dow jones industrials we'll lose 44, 43 points. nasdaq down 15, or a third of a percent. the rustle 2000 seeing gains today. bucking the trend up 4 and 1/3 points. david: and good news for the markets. time for the front page headlines. consumer confidence unexhe hadly -- unexpectedly weakened. thomson reuters consumer index fell to 79.9 from 81.6 in february. liz: producer prices inflation at wholesale level fell by .1 of a percent. the index was dragged down by falling costs of services. david: shares of general mills, maker of cheerios which i grew up on, fell after the company
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said third quarter earnings would fall short of analyst estimates. the food giant facing a lot stronger competition. liz: general motors pushing back against a new analysis that suggests more than 300 people, not 13 or 10 people, more than 300 died when airbags on two recalled models failed deploy properly. gm saying that the report commissioned by a private watchdog organization is not conclusive. david: billionaire warren buffett's berkshire hathaway fighting a familiar shareholder proposal for the firm to pay, quote, a meaningful dividend. berkshire saying stockholders should vote against the idea at the annual meeting in may. liz: he would say, overhis dead body will he pay a dividend. he said that in the past. and the u.s. and russia remain as far apart as ever over ukraine and russian occupation of crimea after talks between secretary of state john kerry and his russian counterpart did not come with a conclusive ideas. six hours together. crimea is voting this weekend on
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whether to break away from ukraine. "after the bell" starts right now. david: time to break down today's action. a bit of a roller-coaster day. we have chris hoe bar, hobart financial group ceo with three stocks he says investors should start. joe keating, with picks to add to your portfolio. guy labatt, january any fixed income strategist and dan stesich in pits of cme. a full house today, all good stuff. dan, first to you. insider dumping stocks, some say selling stocks but we haven't seen this levelnsider stock selling in 25 years. is this a concern at all to you? >> it is always a concern when you see insider selling but i'm not going to get too excited about it. first of all we had a necessary
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ruin for the markets and there might be profit-taking. not overly something to get worried about in particular because the economy is doing real well. and economic strength of firms will do well going forward. liz: talk about what is doing well. guy, it has to be treasures. you start to see the fear trade go in and known as risk off where people pile into treasurys because they perceive that they're safe. what is the behavior that you're seeing? is there danger in piling into treasurys right now? >> of course there is danger moving into anything too quickly. i think over the course of the last several days more of what we see has really been driven by economic trend, right? we've seen a lot of evidence of slowing growth in china. as we've seen numerous times over the course of the last years that's a huge catalyst for global activity everywhere. i think at love trade and positive movement in treasurys this last week has been driven by that factor and not driven by headlines of ukraine. david: aeropostale is down nine
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teen%. retailers are taking hard for the week. some people say it is weather. there are other headwind beside the weather, aren't there, retailers? >> there are tremendous headwind with retailers like aeropostale. a retail remembers taking it on the chin and we're looking forward to that as well. higher taxes, more health care costs and big box stores are having to watch out for the margins. the internet is doing a phenomenal job of doing a seismic shift in how people are shopping. that is affecting these retailers. and you know couple that with all the additional expenses, along with people being underemployed or not having the margins in their own wallet, we've got some problems there. liz: well, sure. you just mentioned the big box retailers, chris. you're shorting two of them. give those names and explain why. we know these two names have struggled in the past but now to outright short them. >> outright short them, sure. we look at sears and jcpenney,
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these are two companies right now that they have a short shelf life potentially. if you look how the internet is treating companies like best buy and what that has meant to them, we see these next two companies the same. also another company that we have to watch out for, next earnings report would be a company like restoration hardware. if they miss earnings that is another company to short as well. >> wait until they miss the earnings before you short? >> with this one with restoration hardware, yes i would. i would wait until they release it. david: joe, ininflation hurts people a lot but the general inflation picture looks pretty good. that is good for business, right? >> absolutely, david. it keeps input costs down. you know the economic environment is actually pretty good. we're growing at a two to 2 1/2% rate. it is very steady and it is not speck starring lar and creating an -- speck tar lar and creating an environment to invest stocks
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that is pretty positive. david: you say names like j&j, colgate-palmolive and you go for the biggies? >> in an environment like we're in we think you should be in the highest quality brand name companies that do a great lo tw thr dng oss ev ove the nxt now year coate s aividd ov%. ey he groheirividd fo51 csecuve yrs wch is remarkable record and they look to grow it 47% over the next four years. you mentioned johnson & johnson. they have also grown their dividend for 51 consecutive years. the yield is just under 3% and they look to grow their dividend around 35% over next couple years. we also gave the viewers plains allca, whs in, the a midstream n the petroleum space. a 4.6% distribution yield they
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look to grow their distribution 55% next three years. we think solid, good names for investors to go to. liz: let's take that point and broaden it right, dan test itch? we're looking at all the sectors. positive sights, utilities, it telecom services energy, what joe keith is talking about. the weaker areas, information technology, financials, health care, those didn't do well. so does this all change and mix up next week, dan? do you foresee this is trend starting? >> you know, i'm not so sure what i'm thinking here. i'm surprised the russian situation hasn't created more of a flux in the market right now. what i'm looking at what the previous guest mentioned economic data is driving things pretty well but will it continue this? over the weekend we'll have decisions made in crimea so that could put some pressure on these things. overall i like the market and dividends are sensible pray play because if it stars to hit those
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won't get hit as well. david: guy, you think the 10-year interest rate, 3.3% over end of the year. that is nine months. every time i hear predictions. we're still at 2.6. when do you think these rates will pop up above 3%. >> our forecast is pretty loaded toward the back end of the year. a lot of chatter has been made last couple months how the weather affecting economic data. we see a little bit of a different trend. yes, that is issue. what is happening this bubble of optimism that crept up among forecasters in the last couple months of 2013 is really being popped by the data that has been coming out. so we think the economic data trend over the last few months is a little more fundamental. that's one of the reasons why treasury yields have remained pretty compressed over the course of the last eight to 12 weeks or so. once that begins to release somewhat and there are good fundamental reasons why growth would pick up not to great pace but faster than we're at right now certainly we expect treasury yields to drift higher.
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keep in mind that a 3.3% on a 10-year treasury yield will be up 30 basis points. historically -- david: it is a big pop but historically low, that is true. liz. liz: let's go back to chris. one of the things, this is classic friday stock discussion that would be you actually like some names. you're not just shorting names. you like buffalo wild wings and bank of ireland. let's tackle buffalo wild wings and we'll get to the stuff of bankp of island. why buffalo wild wings. >> the consumer discretionary side definitely had its issues we're still seeing people going out shopping and buying food. specifically buffalo wild wings is a great price point where it is relatively inexpensive. they're introducing new menu items. they're growing their their franchises pretty substantially. on top of that they had 12.7% revenue growth and we're thinking profits next year grow
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2010%. they're doing a great job in the media. they're creating some very strategic media relation, most notably with the relationship with the ncaa when we begin to lay all of this out they're doing all the right steps and hitting all the right markets. face it they're going after college kid spending mom and dad's money and that is pretty good market to be in. david: chris, speaking about the bank of ireland, i don't know if you know this, we had wilbur ross on last week. you're in good company. wilbur ross was pumping up the same institution. are you piggybacking off of him or come to the same brilliant conclusions at the same time coincidentally. >> what are you trying to say here today? give me a little bit of credit. david: there must be something there. what exactly is it with ireland that you and wilbur ross see. >> let's leave him out of this, okay? when we look at this, obviously 2008 and the past five years have been absolutely terrible for bank of ireland and the rebound in europe has been extremely slow.
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but five years ago there were four pillars, four main banks in ireland. there's two left. of the two banks left, bank of ireland is the one that is least regulated by the government. they're kind of phoenix coming out of the ashes. just as the u.s. had their recovery and we've seen the banks be the beneficiary of that, ireland has only two banks left that can be the beneficiary. again, least amount of government regulation in there alongwith all the steps they're taking to grow. this will be the phoenix that comes out of the ash bees and i think will surprise people, specifically next 12 to 18 months. wouldn't surprise me if we saw a stock price double. >> you better get in there before hobart and will lure ross buy everything out. chris, joe keating, gee, and dan stesich we'll catch up with you in a few minutes when the app statute furs close. liz: we have so much action. new twist to the bitcoin drama. this week we saw unveiling of a man who many called the bitcoin jesus. he is in hiding. take a good look at that
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graphic. he is in hiding fearing a government backlash from the united states for the fact that he made millions on the digital currency. juicy details on this. bitcoin jesus straight ahead. >> catch you up on that. 50% of ipos so far this year have come from the health care sector. analysts believe the frenzy is just beginning. we'll tell you how to play that sector for some healthy returns. liz: we want to hear from you. with a crucial vote in crimea sunday has the market already baked in a full russian invasion of ukraine? you heard dan stesich say he is surprised we haven't seen more action. will it come belatedly on monday? tweet us @fbnatb. we'll show your answers later. ♪ [ male announcer ] what if a small company
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sunday or monday. dan stesich i liked green tie. i forgot to wear my green today. liz: he and i coordinated. david: retailers getting a big boost following fourth quarter upgrade and earnings report. liz: let's head to nicole petallides on floor of new york stock exchange. nicole. >> always great to see that a retailer is doing well, especially liz and dave, we've seen some of them struggling recently. an taylor a different picture. the stock up more than 7%. an upgrade from january any capital to buy rating from a hold. latest quarterly numbers. profit topped analyst estimates. turns out they are hitting it with the merchandise. we were look at some of the notes here. and it actually talks about the clothing lines last year had a lot of promotions. they failed to excite the shoppers. and yet this year they really turned around that clothing line and now revamped offerings and mizuho securities noting there is pent-up demand as spring
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comes and they will continue to do well. that is great news. david: nicole, thank you very much. have a good weekend. folks, don't get distracted everything going on with obamacare. i know it's a mess but on other hand some of these health care stocks are taking off. look at cast light health surging in public debut in the latest sign that investor appetite for health care ipo's is bigger than ever. health care related ipos represent 60% of all ipos this year. liz: okay, so that should be enough, right? it is not just ipos, merger and activities also in the sector red hot with 43 deals already this year. will it continue at this pace? if so, how do you capitalize on that? where should you look when it comes to investment opportunities? we have mesirow managing director who is here with some ideas. this is a trend people should not ignore, correct? >> that's definitely right. after what happened today with castlight i think the health care ip-ipo market is on a tear,
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definitely on fire. having said that, we have to look, you know at the valuation and obviously they will have to earn their way into that valuation. what we're hope something that the, excuse me, the hot ipo market is also going to translate into relatively hot m&a market can as you said. we see a lot of companies, over 125 companies in the portfolios of the top, the 40 top health care-focused private equity fund. we think we'll see a lot of activity this year. david: we don't want to just focus on castlight. you have suggestions of ipos coming out you don't want to miss. but what castlight does it simplifies choices for employees. as we all know, it is crazy market. have to hire a hr department to do that very expensive for businesses. businesses spend $620 billion on health care and the guy who started castlight said 30% of
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that money is wasted. that's why they think there is a huge market in this. >> absolutely right. we have a broken health care market, okay? there is tremendous need for data. there is tremendous need for analytics in order to keep patients out of hospitals, keep consumers healthier. make sure providers are as efficient as possible and to really cut costs for the system. and so you know, in addition to castlight there are other companies on the docket to ipo. ims health file for an ipo. david: do think do the same kind of thing that castelight does? >> they do different types of data from pharmaceutical to medical drugs to claims data. they do the largely on b-to-b basis so do it for pharmaceutical companies and large providers. liz: some of these are real potential money makers. talk to the investor audience watching right now. is there a way you can look at this, what appears to be a
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gigantic health care land grab, sift through, obviously there will be junk in there and find really good ones? >> that is a very good one. castlight i think is very good one of the question is, at 280 times revenues where it is trading now, $39 a share, the question is, it is wow, exactly as you said. are they really going to be able to live up to that valuation? are they going to be able to show triple digit revenue growth for the next however many quarters and also get to profitability relatively quickly in the not-too-distant future and continue to, you know, to hit and beat analyst earnings in order to justify the valuation. david: perhaps a better bet then for investors to is look at the "mergermarket." we're keel dealing with companies we know have a track record. you think there will be a lot more mergers coming up in 2014 right? >> i definitely do think there will be lot more mergers. david: like, for example? >> well -- david: ge thermofisher.
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forest labs and gilead buying hharmasset. >> those could be mergers i talked about 125 top portfolio companies. many are past their sell by date. as i say, they have been held by pe firms since 2006 and 2007 in some cases. so you know, there's a lineup of companies that will have to go out. are they all going to be able to do an ipo? no. i think the companies by and large that will be able to do ipos are the ones that are truly transformative either how health care is delivered or how consumers and providers take an approach to health care. or they're going to have to have generally over 50 million in revenues. liz: great to see you. it is definitely something that looks like a very hot area so your expertise is very much valued. paul, thank you so much. >> thanks very much for having
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me. liz: mesirow financial managing director, appreciate it. liz: despite the handshakes the u.s. and russia failed to break the deadlock over ukraine and russia's military occupation of crimea. tensions could rise even more after sunday's referendum in the crimea region. we're going to teleyou what to expect, how the markets could react next week. david: and no matter what you think about the legalization of marijuana, that business is booming right now and so is the demand for workers who know about the pot industry. we have a list of some of the jobs that need filling. kind of interesting stuff. that is coming up. that is coming up. ♪ so ally bank has a raise your rate cd
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liz: time for a quick speed read of some of the day's other headlines five stories, one minute, first up liberty media stopping the buying the rest of siriusxm. they are looking to at charter communications to expand. illile m e mobileet to decline search will total $9 billion compared with 13.6 billion for desktop search. sam ununveils its own -- samsung up veils its own music service. it is exclusive for galaxy phones and currently only available in the u.s.
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>> colorado holds its first ever marijuana industry job tear. 15 marijuana related job companies met with job-seekers for wide range of positions including, bud tender and bookkeeper. quiz notes files for chapter 11 bankruptcy. the filing comes two years after major turn around effort that included out of court debt restructuring and management shakes up. that is today's "speed read." david: the vote in crimea, you can call it a vote, will decide whether the russian occupied region should leave ukraine and become part of russia. there isn't even that option to leave russia right now in the referendum. liz: so after this referendum, what will russia and the u.s. do next? joining us now with the latest from the white house our own rich edson. hi, rich. >> david and liz, the push from secretary of state john kerry in london earlier today was to have russian forces leave crimea,
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leave the border that russian troops had been massing on in ukraine for the last few days now but the russians say that they're not going to make any decision on their next step until that referendum on sunday, a referendum the united states said because of the way you just described how its structured is illegal. after their six-hour meeting u.s. officials say they found no common ground, the u.s. and russians in their talks in london and secretary of state john kerry warned russia on its expected next step. >> the decision to move forward by russia to ratify that vote officially within the duma, would in fact be a back door annexation of crimea and then it would be against international law and frankly, fly in the face of every legitimate effort to try to reach out to russia and others to say there is a different way to proceed, to protect the interests of crimea. >> earlier today president obama
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said the u.s. and europe will coordinate on consequences if russia violates crimea and ukraine's sovereignty however the officials refused to and the president refused to lay out exactly what those consequences would be and have been refusing to do so for the last couple of weeks here. also pentagon officials are saying that six f-16s landed in poland. six more f 16s will land in poland tomorrow. international monetary fund continues to work out pouring over the books in ukraine and kiev to figure out what kind of an aid package they can put path together and their report is due one week from day. david, back to you. david: rich edson, thank you very much. liz: i would say that is saber rattling, six, f-16s. there are key areas that may move in the wake of that. also key areas you want to keep a keen eye on would be whipsawed by this weekend's vote. oil, for example, natural gas will be in the spotlight. both jumped in late february and
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earlier this month once tensions began to rise. remember this all started really to gain traction after the olympics. ukraine is one of the biggest consumers of natural gas per capita. they have got a lot of pipelines there. keep eye on traditional safe haven place and treasurys. gold advanced nearly 3% this week, continuing its 2014 rebound t was a mess last career but looking very good this year. yields on the 10-year treasury have been falling ahead of the vote. you need to watch currencies. the dollar has been falling. not so much the outcome of the vote that will trigger a reaction but rather how officials in u.s. and respond. there is the polish and ruble is taking a beating as well. watch currencies of neighboring countries like poland and turkey and of course watch what happens with the euro. david: we'll keep it on business here but lightening it up a little bit.
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what happens when good celebrity brand go bad intentionally? are pop stars, miley cyrus and justin bieber just being coached to be bad in order to make more money? "wall street journal" celebrity reporter lee hawkins on how this advice could eventually drive these stars into the poor house. liz: plus, talk of regulation, bankruptcies, new. >> changes, and the surprise emergence of a man many call, the bitcoin jesus. the drawl ma over the digital currency is intensifying. can bitcoin put its bad press behind it and become a legitimate business? ♪ i ys say be thman with the plan
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beat thei10-year lipper avere. t. rowe price. inest with confidence. request a prospectus or summary prospectu with investment informion, risks, fees and expenses to read and considecarefully beforinvesting. liz: there is much more happening in the bitcoin world than just that bankruptcy filing on the mt. gox bitcoin exchange. the fort knox of bitcoin is being built, yes, a vault. new york is talking regulating bitcoin and did you know there's actually a guy called bought coin jesus? how much is the ecosystem of bitcoin changing and is the changing for the better? can it survive? joining us now, coin apex cofounder and ceo alex waters. let's get out right off the bat that coin apex is what? it is part of the ecosystem. tell us what you guys do? >> so we're a bitcoin incubator. we mostly work on internal projects but we do invest in some outside companies.
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primarily we try to solve problems in the ecosystem by creating product that is address that. liz: so you're an incubator for the bitcoin space? >> yeah. we invest in companies and we also incubate our own projects. liz: matt millen who has been on the show talked very highly of you and said you're one of the smartest guys in the space. you're a long-time computer programmer and you actually know this guy, roger, ver? >> roger. liz: who is known as bitcoin jesus. >> yes. liz: because he made millions and proselytized, very supportive of bitcoin but now he is in hiding in the caribbean? i mean there was this salon article that detailed about roger and why he is not saying where he is right now. he feels he is going to be attacked by the u.s. government somehow. you know him. what is going on there? >> i don't know the particulars of you know, what has come out publicly but i've known roger for a while. he invested in a company i used to work in, bit incident. i used to see him occasionally and speak to him.
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i haven't spoken to him in a little while you about he has done very well in bitcoin. we called him bitcoin jesus because he was so proat the time tick and meet people on the street and say, have you heard of bitcoin? that is how he coined the title. liz: he would be supportive because he had done so he well. while many of our viewers don't touch bitcoin they're fascinated by the technology because any emerging technology is interesting. there are stumbling blocks that come along the way. mt. gox which was the biggest platform for trading bitcoins has gone bankrupt. people are wondering about mark capellas who ran it and what is your opinion of him and whether the half a billion of bitcoin is still in his possession? some say that. >> it is a possibility. details haven't fully come out. we know mt. gox has been playinged with technological issues for a while, probably going on over a year and it is
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unfortunate that it's come to such a head. i wish that more people were, you know, i wish that more people were aware of it and that didn't leave their money in the system and i hope that those people do get their money back but whether mark has that money, i think it is hard to say. liz: well, what's interesting is while it's a digital currency maybe the answer would be to simply remove it from the digital world and that's what these new bitcoin vaults are doing. there are two companies. persist just and atlas trading platform who created some type of integrated exchange. there are companies coming up with vaults that would have no internet access where you could store your bitcoins. how could would that work and how would you get them out because there is no internet access? but that would prevent malware attacks what happened to mt. gox. >> as much as mt. gox is bad guy and lot of people speaking out against it brought a lot of people to bitcoin and the kind
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of infrastructure is needed. in bitcoin we have one exchange that operates as the depository institution, the clearinghouse, and in traditional finance those are broken out over several products. so setting a depository institution that's all it does, i think that is really beneficial thing for the ecosystem and it will sort of, it will keep the scope a lot smaller as far as what this business needs to do. both legally and for the user experience. liz: have you made money on bitcoin? >> i've made a few. i have made a few bitcoins, i've been involved since, i guess 2010 and -- liz: wasn't it 32 cents? look at one year behavior here. even if, even if you're buying today it is well off the floor from back then. >> when i was working in, working in my parents basement on bitcoin back in 2011 my parents told me to get a real job. now they're sort of saying, why didn't you tell us to invest when it was a few cents of a
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bitcoin. liz: alex, interesting to hear you've been in on the ground floor and we would appreciate your expertise in the future. thank you. >> yeah, thank you so much for having me. liz: alex waters. >> a pleasure. liz: david, back to you. david: new bitcoin celebrities. speaking of celebrities with a wholesome image are great for business but what happens when those images go bad and are they doing that intentionally? look no further than miley cyrus and justin bieber. "the wall street journal" celebrity business reporter lee hawkins following the money trail. as the search for the missing malaysia airlines jet expands into the indian ocean we'll bring you the very latest on what we know and we don't know. could for example, the plane have landed somewhere without being detected by radar? stay tuned. more coming up. ♪ can you start tomorrow?
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for a body in motion. smoke? nah, i'm good. [ male announcer ] celebrate every win with nicoderm cq, the unique patch with time release smartcontrol technology that helps prevent the urge to smoke all day long. help prevent your cravings with nicoderm cq. david: justin bieber and miley cyrus went from being wholesome performers to lie send schuss train wrecks in record time. critics like to use them as examples of spoiled brats that strayed off course but is their course purposely driven by branding who think there is more money to be made by backed? "wall street journal" celebrity reporter lee hawkins with who are on this. lee, you talked with some of the parties. we'll talk about your interviews in a minute. is that what is going on here? they think being branded for wholesome doesn't make you as much money as backed?
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>> i definitely think miley cyrus is intentionally doing a lot of this stuff to refocus her brand away from the whole hannah montana disney thing and separating it and trying to take control because she is looking at a career, she wants to make her career go over decade as opposed to three to five years people usually get. david: all that, we don't want those shots. we want shots of her gyrating on stage. that is the thing i'm wondering whether or not they're being choregraphed. is somebody behind the scenes, more than her doing this on her own? somebody behind the scenes, say you do this. >> most definitely. its part of the show. so everybody has to agree on it. they have to agree put forth the resources for a lost sets and everything that she is doing. 100 -- david: who would be doing this? clearly not her parents, right? >> well i think it is, she didn't have a lot of control earlier in her career because she was part of the whole disney family. she really resents that. now she is coming in and saying listen, i'm an adult performer. i feel like i want to be the
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next scher and the next madonna. and i need to separate myself from the whole image. david: i wonder who is doing this? is there a manager doing this. >> they have managers, publicists. everybody meets as a team and they talk about. it is very choreographed process. david: not just women either. of course justin bieber is an example of a guy who seems to be making the same kind of turn although doing it in a different sort of way. getting in trouble with the law and trying to beat people up even though he is a skinny little runt. >> i think it is different with him. the people in his inner circle are scooter braun and usher. these are people who are seasoned veterans in the business but what he is doing, he is getting in trouble with the law, david. which is different than you know, just doing some raunchy dancing on stage. david: i don't think it is his, couldn't be his parents. in fact you talked to one of his parents, right? >> i did. she said all of this is being amplified. he is living the life of a 20-year-old just like any other
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20-year-old in america. let's roll the tape and see what she said. >> does have to be careful about what he says because he is a role model and because he is responsible for, you know, act voice to so many young people. i don't know, i just always taught him that you know, you're a human being and no human being is worth more than any other. >> there of course she says you're a human being but the reality is he is a celebrity. and he has to know that he is going to be watched by the paparazzi, to fight them is only going to fuel the situation. and he had a deposition hearing last week, it was just crazy. he, it was funny though there was a part where he said i was detrimental to my career. what he meant to say i was instrumental in building my career. david: that leads, maybe i'm reading too much into that, i'm wondering if it goes against their own interests? that they're really pushed by these bad pr people and bad
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managers to do this kind of thing? >> i think in this sense he is doing a lot of it because he is using poor judgment when he is out in the world every day. the difference is, what is the music doing? is it a good record that he is making? is he doing solid performances? he has seen his record sales tank. he has seen his movie sales tank. what is happening is, look at chris brown, for example. this was a guy involved in a domestic dispute but he is exciting performer. he is the closest thing that we have to michael jackson. and justin's music is not as great as it used to be. david: getting back to the first question we asked, does it make you money by backed, by switching from the wholesome? i think of somebody like taylor swift. now she has her offstage personality but on stage she is not doing these kind of dirty gyration that is miley cyrus is but she is doing pretty well. >> doing very well. not to mention she is also a songwriter and gets a lot of the royalty payment that is will continue to function like an annuity through the rest of her career. she is an exception.
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i think miley cyrus in her case, she will continue to make money. even if she falters in sort of pop world, she can go back to the country genre. that is what she is going to do. she probably will be around for the foreseeable future. i think justin bieber his days are numbered. he has to put out a dynamic album. i don't know who his fan basis. david: imagine being 20 and 21-year-old person having $135 million. hey, that is extraordinary. >> i i don't feel sorry for the. david: thanks very much. lee. have a good weekend. liz: dave, it has been seven days since malaysia airlines flight 370 disappeared. new reports emerging that the plane may have turned back mid-flight. we've got more details and the latest next. david: new developments every moment. plus call it the ultimate treehouse. we'll show you a new apartment complex complete with a trunk and branches. that is getting set to sprout up. that is coming up. ♪
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liz: the search for the missing malaysia airlines flight 370 expand to the indian ocean. could the plane have actually landed somewhere without being detected on radar? david: that is an incredible
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question just being posed now. ashley webster is in the newsroom with the very latest developments. ashley. >> oh, boy, they seem to come every other minute, dave and liz. the search is focused on indian ocean based on faint signals received hours after the aircraft's last contact with air traffic control all the way back on march 8. that area by the way, 700 miles of the last known location. the transmissions reportedly contained no data but at least shows the aircraft was still communicating. take a closer look how a boeing77 could be tracked from the ground. if you start from the back of the plane. you have a black box that will send out a signal when it contact with water. so far no such signal has been detected. life rafts emit emergency locator radio signals. none of those signals so far have been detected. you have what is called the acars. aircraft communications addressing and reporting submission. that is satellite data link that transmit reports on aircraft
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systems. these are the very signals that have been detected after that last confirmed location but reportedly contain know data. on the front of the plane you have the transponders that emit a four digit number identifying the aircraft as well as location and altitude. there has been no transponder signal detected since that last confirmed location, suggesting that perhaps it was turned off. meantime the hunt for the plane with 239 people on board has been widened westward from the gulf of thailand toward the indian ocean. we should also mention to the south china sea. guys. david: the big question, ashley, i don't know if you've had any late-breaking information on this but whether the plane could have landed somewhere without being detected? >> well aviation experts say yes, it could have but very, very unlikely. they have been looking at these andaman islands. if you look at the where the plane could have been headed based on signals, it is an island chain, 500 miles long. time any islands. it has a landing strip that could take the landing of a
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boeing 777 but this area is very strategically important to india. it is monitored very carefully and you can't sneak a boeing 777 with a 200 feet wingspan. david: good point. >> maybe pakistan but again aviation expert say very unlikely. liz: ashley, thank you very much. >> sure. david: have a good weekend. liz: we asked you on twitter and facebook with a crucial vote ahead in crimea this week inched has the market baked in a russian invasion of ukraine? wayne on facebook wrote in to say, i'm thinking sunday elections will be a trigger point for a wild ride starting with overseas markets. david: been pretty wild so far this year. let's go "off the desk" a city in the south of france giving treehouse a whole new meaning. 17-story white apartment block that resembles a tree set to be built next year. the building called, the white tree, will feature balconies and shade decks langing like branches from each story. residents of the building will be able to choose from who are
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than 100 different floor plans whether construction is completed three years from now. the white tree is part of their plan to build 12 foliage inspired buildings all over the city. gosh. liz: also, off the desk, would you tune in to watch footage of a six-day ferry ride? if so you're in luck. a popular tv genre in norway called, slow tv, which features hours of continuous, fixed camera footage, what, is making its way to the u.s. a quarter of norway's population tuned into slow tv last month alone. american production company, lmno company acquired rights for this brilliant idea. is looking for american pastimes to document. current ideas ranging from people watching and waiting at a train station to observing wildlife. david: i'm thinking there is not a lot to do in norway in the spare time. number one thing to watch next week of course will be this woman and what she decides with the help of the fomc. it starts on tuesday but
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wednesday is the day we find out what the fed decides to do and she is going to have a press conference which all market analysts will be analyzing every single word of. liz: fox business will be covering it. for now though, "the willis report" is next. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help.
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gerri: hello, everybody, i'm gerri willis. right now on "the willis report", gm recall scandal grows. the number of people killed due to the defect could be in the hundreds. also the feds crack down on for profit colleges. >> it ttec call institute we create ad different kind of education where students can learn practical, hand-on skills. >> hundreds of degree programs could be shut down. our special report, a user's guide to taxes. all your tax questions answered. we're watching out for you tonight on "the willis report."

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