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tv   Varney Company  FOX Business  March 28, 2014 11:00am-1:01pm EDT

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maria: congratulations and best of luck, joined dierdre on monday at 1:00 on fox business. that will do for us today. the market up 142 points. very good moment, passed on to my colleague charles payne in for stuart varney was "varney and company". charles: good luck with your show monday. happy friday. welcome to "varney and company," stewart will be back monday but today here is your big story. read the mentally. harry reid denies he calls cancer patients liars. you can't make this stuff. we are going to check the tape. the white house says 6 million people signed up for obamacare, no word on how many of those people actually paid and there are tech headlines today, facebook hiring a bunch of scientists, who want to be in the internet everywhere using solar powered drones. amazon rain as king. amazon will offer free music and movies. watch out netflix, there's a new kid on the block.
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two hours of "varney and company" about to begin. ♪ charles: we have to begin with harry reid claiming that he never said all of those people telling obama care horror stories are liars. let's listen to him backtrack on the floor of the senate. >> mr. president that is simply untrue. i never came to the floor to my recollection, never said a word about any of these examples republicans have given regarding obamacare and how that is not very good. charles: let us help him recollects. here are his exact words from just about a month ago. >> despite all that good news there are plenty of horror stories being told all of them untrue, but they are being told all over america. charles: a month ago did he really forget he said that? tea party news network scott
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hughes were here, what do you make of it? >> it is obvious harry reid's background was being a boxer and he got hit in the head one too many times if he is already forgetting what he told us. i hate to break it to you but welcome to the 21st century we have you on tape, you can't say that. is insulting to the american people he thinks we are that dumb not remember what he said a month ago. charles: interesting you would bring up the word dumb because essentially that is what he said with obamacare, a lot of dumb americans, the site is fantastic but they just can't use it. to add insult to injury he calls a lot of people liars, the worst kind of people, cancer patients, people who lost their doctors, people in dire straits and compound that with calling us all dumb. i got to tell you i think at some point this goes beyond politics and i have to wonder if this man has a serious personal
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problem. >> he has been in washington d.c. outside the beltway for so long he has forgotten the american people have brains and pay attention and we allowed him to get away with it for so many years, reelecting him, the people in his own state, he thinks he can get away with it. the issue is almost 7 million people have gotten kicked off their insurance because of obamacare, almost double the presidents represents within his own state. if he calls the rest of america dumb and wires that is his uncle but the people in his state need to hold him accountable and get him out of office. charles: you bring up a great point, talk about him having a neurological problem what about the people that keep sending him back to washington and what does it say about us as a nation when the senate majority leader has to defend the policy so enact that he is willing to take these chances, hurt people's feelings, call people liars, call people dummies and then try to take
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those statements back? >> in the past the democrats were allowed to get away with this whole thing to to the fact the we didn't have technology to back,. no democrat on the campaign trail is campaigning on the fact that obamacare is great. the only one president has left in his cheering section is harry reid and nancy pelosi and they don't have much choice so i am looking to the people of nevada to make the difference in this upcoming elections and let's get him out of office and get somebody good in there. charles: we will see if that happens but everybody should be held accountable. this is absolutely absolutely nuts. i want to look at jobs. 48%, a new fox poll, think the nation's job situation is getting worse rather than better. was just last summer more people said the job situation was getting better. sandra: the job situation many people thought beginning that because people getting back into jobs but lot of them work
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temporary jobs. temporary jobs are up 30% in 2013 from 2010. the level of uncertainty in attempt job is very high and they look back and roughly 10% of all new jobs created since the recession are temporary jobs. people are feeling a little better because they are going back to work, they are in temporary positions and don't know if they will have a job tomorrow. people can't feel good and can't spend money if they don't know if they will have a daughter a month from now. charles: that speaks to the policies being served up to us like infrastructure and things like that. we have some infrastructure problems but even those like the stimulus jobs are all temporary jobs. you patch up a highway, packed a road, patch up the bridge and then what? we really need pro-growth policies. sandra: we need more certainty about taxes and regulations so small businesses, big businesses have the confidence to hire new
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workers and bring them on full time. by the way the health-care law might have something to do with that. charles: glad you brought that up. sandra brought up the uncertainty, businesses talk about this. gigantic size makeshift from full time employment to part-time in part the policies like the obamacare and the new health-care law and the fact we have a flaccid recovery. >> completely. the only thing the american people have less trust in than congress are the numbers of congress and this administration continues to put out. is an employment number is truly based on complete fraud because people who lost their jobs in the past of already rolled off. no one believes unemployment numbers are going down and just like obamacare nobody believes 6 million people have actually signed up and paid their first installment activating obamacare. this whole entire recovery has been a false number and i don't think the american people are buying it these days.
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charles: more and more we sepals where democrats the giving up on the change aspect of this recovery. want to check the big board, market's having a good day trying to finish the week in the green, it is a tug-of-war but up 142 points at this stage of the rally of the day so far looks pretty good. want to take a look at the price of oil still above the $100 mark, a nice bite overawe hundred yesterday and today president obama is in saudi arabia to speak to king abdallah. we are less dependent on saudi arabian oil but we could be more energy independence if the president would pass keystone among other things. sandra: citigroup has said in the next five years we could be energy independence as a country, north america, include canadian oil as well. sandra: canada -- canada has already said if you aren't interested in this oil we will talk to other people like china. this would put us in a much better situation as far as
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national security to the energy independence, put us in a better position economically as the country. we have a large amount of oil that is landlocked in the middle of the united states. we need that oil to get to refineries along the coast to bring those energy prices down. the keystone pipeline is a no-brainer. charles: this is a win/win/win. we keep the money at home, we don't pay people that hate us, create jobs, create real tax revenue and lower energy prices. charles: we would not have to be on the phone with saudi arabia when oil demand is going to. stuart: for trying my best to resist talking about -- you are lowering the into the barrel. let's talk about three stocks we looking at. walmart doing visa over credit cards white fees lose a battle of the giants, they want $5 billion, that stock up slightly, facebook want to be in the internet all over the world and have a team of scientists,
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no word to the scientists are but they will use solar power drones, a big deal, stock up over 1% and streaming is king. the wall street journal says amazon will offer free streaming television entries in. amazon flatly denying the story as of now but wall street likes the stock of over 2%. here's a stock taking place today. i talked about a couple times. how are shares fairing? nicole: talking about high end home goods. restoration hardware and oculas% today, almost $72, they came out with better than expected profits. charles: rich people like their stuff, they are spending money. thanks a lot. this next story we know it will fire you up especially working moms out there. gwyneth paltrow comparing essentially saying office working moms cavett good compared to hollywood moms.
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i will give you the quote. i think to have a regular job and be a mom is not as -- of course there are challenges but it is not like being on set. -that doesn't go over well with one mother who penned an open letter in the new york post and said you got a couple quotes from that. sandra: she has fired people up with this. charles: people are uncoupling from her or whatever. sandra: this working mother wrote an open letter published in the new york post responding saying, quote, thank god i don't make millions on one movie per year is what i say to myself as i wait on the windy metro-north platform about to begin my 45 minute commute into the city. you went on in this letter to say after my 6:00 a.m. wakeup i have a lot of time to throw makeup on my face hoping i will have enough time to put my sights on before my son starts crying in his crib and when he starts crying guy have to make a
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decision to like it fully dressed or tend to him with my hair still dripping wet? this is probably the sentiment felt by a lot of moms when they heard a clinic complaining how difficult her job is. charles: a few months of the year going to the midwest. scotty fuse is with us and you are working mom. what do you think about this? >> her comments are ludicrous but not as insulting as tom cruise's comments from last fall when he said his job on the set is as dangerous as our soldiers fighting in afghanistan. this is another example of hollywood's disconnect from the american people and if i had a team of nannies and fitness instructors maybe mommy would be easy to make. i am like the rest of america who doesn't and i think this is so easy she would not be going through this uncoupling she is doing in her own house. charles: i think after the attack tore knee is over we could have a tournament who is
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more disconnected, gwyneth paltrow or senator harry reid. i got to go to you, you are a hardworking mom as well. nicole: first thing people should do is shut it. just do your own job with a smile because just like that woman i gave up tight when one of my kids were born. i don't have time to put on tights but the truth of the matter is i understand what she is saying, has to travel and it is more difficult. to try and insinuates when disease years and the other just don't judge. just do your job and march along. charles: those seven months to get to chill out and spend those millions you made might sway -- nicole: we don't want to get caught in that trap. it is all challenging. charles: all right. a new study says next-generation, the next generation of voters will be more liberal, the millennials want and like the government believe it or not. we will break down all the
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numbers for you next. ♪ ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck.
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charles: let's check the big board up 134 points. we found some resistance in 16,400. this is a good day so far with the gold report, gold needs a nice rebound, 1300 with support becomes resistance, 1295. the inspector general reporting postal employees spend thousands of taxpayer dollars on gambling and a lot of personal expenses. and 32 grand for gambling. this is got to make you upset. >> this is a post office, so relevant. and it still exists.
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talk about them spending taxpayer dollars is really quite -- charles: they need bailout. they haven't figured out ways to make it work. the footprint they have in this country could have figured things out, ubs or kind of thing but the fact is not only is it our money but we need to give them more money. liz: more abuse of government dollars and accounted for government dollars. that is the biggest problem. why don't we know the dollars are spent like this? cash advances, rental cars, this list is long. how do they not catch that? charles: when you get a culture like that it is hard to unravel it. wants to get to this pews study we discussed earlier in the week, millennials are ok with big government and the country's next generation is going to be even more liberal than we are right now so where did they get that idea from? joining us is paul sailor from the pew research center.
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this might have been news that a lot of people didn't want to hear. how did you come to this conclusion? >> in terms of their liberalism we do a lot of public opinion surveys and ask classic questions on social values and political values, all things equal would you rather have a big government that provides more services for small government that provides fewer services, the millennials we are talking about 18-32-year-olds standout, they're much more disposed towards a big government. charles: do you make a follow-on statement if the answer is yes i want a bigger government are you willing to pay more in taxes to make it happen? >> there's a bipartisan consensus that people don't like paying taxes. but this is the generations that is used to -- distinct from the older generation, more racially and ethnically diverse, part of the big demographic transportation going on in the country and having a lot of economic difficulties. all americans have had difficulties we know that story
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well, less well understood is how tough it is for young adults to get started in this economy, very high levels of unemployment, low levels of wages, high levels of debt, on and on it goes so they are feeling strapped. frankly more so than the older generation they look to government for support. charles: from a political point of view the strategy president obama used with respect to obamacare, 26 and other things suggesting or hinting taking care of student loans and those types of things that has been a winner so far so how could the other side of the aisle argue, maybe you could tell me that long term that is not in your best interest? >> the best news for the underside of the aisle is although it is a liberal generation and we know the way they voted it in 2008-12 they were obama's strongest supporters they were not locked in. are you still identified as
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democrat, republican or independent record share, a 50% say independent so they don't choose to affiliate with the label, their support for president obama which was way up in the stratosphere six years ago has come down so they are starting out liberal but that doesn't mean they are locked in and some of their economic woes may make some buyers and grazers and on looking for help. charles: between economics and other things you never know. i want to get your take on the latest finding of the country's birth and death rates, united states recorded the most deaths in history last year and birth rate fell to the lowest level since 1998 near all-time lows. this is a sign we're becoming like japan and in japan the circumstances help to in two decades recession they have had? >> every country on the face of the earth is becoming like japan which is a way of saying the average age is getting older. eventually old people do die.
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there are scientists working laps around a world to try to prevent that. we are getting older and every single day, the famous baby boom generation, at 10,000 baby boomers turn 65 that will happen every day. charles: i am trying to find out you do this better than anyone else the economic ramifications from this trend. >> we have to rebalance the social safety net. laudable people becoming beneficiaries and not becoming taxpayers, social security and medicare doesn't work, it is a huge social and political challenge old and young have different political values that makes the more difficult but we got to fix it because it is the most important thing we do as a society. charles: appreciate you sending time with me. charles: harry reid says he didn't call cancer patients liars, they don't know how to use the internet. you guys are upset about this. your reaction from face book and
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twitter is next. >> all that good news there is plenty of 4 stories being told. all of them are untrue but they are being told all over america. it's a growing trend in business:
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>> there are some people, like my grandchildren, who can handle everything so easily on the internet. the example they gave is a 60-year-old woman came in and set i almost got it but every time i just about got there it would cut me off. we have a lot of people just like this, no fault of the internet, people are not a educated how to use the internet. charles: harry reid certainly on a roll. those comments sparked quite a bit about rage from you, our viewers. he implies it is older people who are internet challenged. why is the pointing that out when young folks who know how to use the internet and obamacare needs to enroll. patti says with a bit of sarcasm, is so nice to know senator harry reid not only believes americans are liars but also stupid. is so encouraging. kathy points out, insulted the entire democratic base since obama used the internet a ostensibly in both campaigns in
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order to raise an insane amount of money and we don't know where most of it came from. we love them, keep them coming all the time. game stop shares bouncing back after a hard day yesterday. the numbers are good, the guidance, wall street punished it but it is up nicely, and different story, they reported disappointing forecast heard them. that stock off 5%. we finally revealed our final four varney tech 20. we started with 16 stocks, you helped whittle them down to four. here goes. google, our top seed in the biggest company by market value went up against price line around 2 and priced line certainly a hot stock, jos google, the top-seeded vances. google will play the winner of
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netflix versus ibm. and it rolls on, would take that many years to recover oil e-mails. republicans and the american public wanted and to. so far we are not getting them but we will discuss after this.
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charles: let the trumpets roar. the white house trumping 6 million finals for obamacare, navigate is helping people enroll land mexican consulate undocumented immigrants are not supposed to receive government run health benefits but the president told latinos earlier this month that healthcare.gov would not be used to find out an individual's immigration stratus. big government keeps getting bigger by any means necessary. sandra: the mere fact kathleen sebelius continues to deny she has any specifics on those and rolling it raises questions like this, great reporting by these guys. look at the fact that mexican nationals are signing up for
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obamacare, undocumented workers, makes you wonder what is this 6 million made up of? had they paid? are they u.s. citizens? this is -- charles: the answer to that would be it is going to be shocking when we get all the details if we ever get them. is interesting that latinos in general have rejected this. it has been a major bust among latinos. the administration underpredicted latinos and young people and made horrible miscalculations that at the end of the day this quirk. you are desperate when you go after undocumented workers. sandra: people would be signing up by the millions if they saw that it benefited them and their family. they see premiums go up and can't keep their doctors and are not signing up, just as it is not working. people do what is best for
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themselves. charles: keep a close eye on brick and mortar companies. we have two winners in that space, abercrombie making a nice move of 2.5%, and revenge of brick and mortar is, best buy can haying in, maybe are sold for brick and mortar after all. note lois lerner e-mails from the irs so why is the irs dragging its feet on handing them over. irs commissioner has even been threatened with contempt. joining us is the american center for law, why are they protecting her? why has anyone circled the wagons around lois lerner? >> she became the center, the focal point of initiating this particular targeting scandal and this targeting scandal. it was her leadership that presented this and she has a series of e-mails, some of which have been released, others have
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not been. imagine the ones that have not been what those might say but the ones that have been released showed this is politically motivated by lois lerner and people higher up than low as lerner. she was the key implemented and it did not originate and they are very hesitant, i used to work for the irs office of chief counsel. the reality is we have to be aware why congress is pushing so hard. if we don't have the real information that shows the depth and detail of what was going on we do know of this. the president made a state of the union speech on january of 2010 and within weeks action started at the irs. complaining about citizens united and the e-mails were less lerner references that. charles: one school of thought was there wasn't a direct order to the irs to do this but it was implied in part to the speech you referred to. your time at the irs did you
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feel any political pressure? was it politicized when you were there? >> that was a long time ago. in the 1980s. our job was to faithfully implement through the tax court the tax code. there was not a political discussion going on. at higher levels it may have happened but it didn't happen at the level of the trial lawyers. this is a different irs. this is an irs that has political motivation. e-mails that have been released shows that. people like clamoring us to clamp down on these, tea party is are dangerous, cases are dangerous. these are statements out of the head of tax-exempt who has taken the fifth amendment which has been called to tad -- that tells you something else. the head of tax-exempt taking the fifth amendment and the president saying there's not a smidgen of evidence of any
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scandal. charles: anytime they gather together, there's nothing but blocking and tackling, the democrats continuously stepped up to the plate. it feels like the more they blocked and tackled for, the more it feels there is something they are hiding. there's a general sense is that has to be building up that you are hiding something and you point out something akin to a smoking gun, imagine what they might be hiding. >> you know why she took the fifth amendment. she took the fifth amendment kind of and waved it. at least asserted it because there were a series of e-mails sending out government irs e-mail accounts to a private e-mail and taxpayer information, send taxpayer information to a governmental agency those of violations of the law, criminal violations and lois lerner was
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engaged in this. everybody forgets the question that started all of us, a planted question, why is it the american people don't have the right to have real answers and i think they do. i am in civil court. some tea party, some not. we get some answers but they are fighting as you can imagine the government doing everything they can to avoid litigating this case. charles: before i let you go, will we ever get to the actual bottom of this and if we do with it be so far after the midterms and the next presidential election, what is the timeline if we do get to the bottom of it real quick? >> if congress doesn't get subpoena enforcement going it will be a long time and there are civil litigation, so can the administration drag this out past the midterm election? the answer is yes but more information is coming out every day.
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congress is continuing oversight hearings and we are pushing forward on civil litigation. charles: more and more from the herculean effort you put in. thanks, have a great weekend. virgin galactic rocketing private citizens into space for a phrase. after the break we have a guy who has his ticket, he will be one of the first trips that blast off later on this year. very exciting stuff.
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does breathing with copd weigh you down? don't wait to ask your doctor about spiriva. >> let's check walmart. a billion dollars that walmart says are in the eye. next up, facebook. they want to be in the internet all over the world,. and on amazon, amazon denying the wall street journal report. that stock up big time on the news. the stock taking off big.
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better than expected numbers, guided stock up 12%. we head to the stock exchange, huge ipo. but the energy bp produces up here creates something else as well: jobs all over america. thousands of people here in alaska are working to safely produce more energy. but that's just the start. to produce more from existing wells, we need advanced technology. that means hi-tech jobs in california and colorado. the oil moves through one of the world's largest pipelines. maintaining it means manufacturing jobs in the midwest. then we transport it with 4 state-of-the-art, double-hull tankers. some of the safest, most advanced ships in the world: built in san diego with a $1 billion investment. across the united states, bp supports more than a quarter million jobs. and no energy company invests more in the u.s. than bp. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence.
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it's one more part of our commitment to america. charles: remember when we had blackberry on deathwatch? look at it now. the company reported smaller than expected fourth quarter loss even though smart phone sales are starting to slide. shares up, blackberry evolve to
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in getting its operating system into ford vehicles, that helped them out, messaging services worth more than people thought and that is helping out. giving stock pot with facebook, buying what's app maybe this is a play as well. a big ipo for you today. you have probably passed by one of their billboards or driving this morning. joining us from the stock exchange is the ceo of cbs out board. congratulations on your ipo. >> thanks, we are pleased with how is trading at the moment. it has been an exciting process, looking forward to being an independent company. charles: interesting in this age of streaming videos and cellphones and new media that billboards one of the oldest mediums out there. >> it is increasingly relevant because all the while audiences are declining and fragmenting or
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whenever, most media, adult audiences still growing so from that point of view our medium becomes increasingly valuable as time goes on. you will be connecting with our medium via your smart device in the future. it is an exciting and rosy future. charles: digitized these billboards, that is the next quantum leap you will make. >> we have only got a relatively small amount, digitizing 1.5%. when you look at that creativity and flexibility. and right across the country, based on who scored in a football game. and its huge extra creativity and interest as we go forward. charles: congratulations, good luck, appreciate your time this
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morning. you want to go to space? you can book it through this company and the ceo himself actually has become much space traveler. first and foremost you got a ticket to go to space. >> had it for seven years. charles: i was hoping you brought it with you. you have a safe somewhere? >> deposit term. 700 people have not actually -- ready to go. actually the demand is so strong that in june it went to 250. charles: this is the galactic virgin, virgin galactic. >> richard branson's grandchild's based on the winning of the x prius, space ship 1 is in the smithsonian. it is the first credible, ready
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to go to space. charles: is it really space. the russians were selling $25 million. they technically step for a moment and come down? >> that is a really good point people need to understand. there is actual orbital space, you are talking about going to the space station which the russians are doing. it is 40 or $50 million. this is suborbital which means you go up into space suborbital and come back down. charles: like the movie gravity you get the feel and start to flow and all that stuff. >> i have done the zero gee plain where you do twenty-second of weightlessness and i can't tell you what it feels like. it is amazing. the profile of the program is we pick up from the, it is the two our flight, a four day
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experience because you go and have training and all that. this is an amazing ride. charles: people watching this show can join you or get involved because you guys can book is on your site. >> we are a network, the leading network of exponential travel advisers. you can come to us and have advisers who will connect with virgin galactic. we have a partnership with them and we do this, the partnership is based on. and with the version collective team going to the questions. charles: i am fascinated with this high end luxury travel, safaris and all that stuff. it is prohibitively expensive but you say that is not true. >> that is not exactly true because obviously the whole thing about luxury travel is all kinds of price points.
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it is the equivalent of the weld adviser, used to be stockbrokers, used to be travel agents. stockbrokers are gone and you need a book online and what we are is we are of group of travel advisers, top travel agencies that apply to be part of the network and our travel advisers sit down with their clients which the issue will advisor does. it is interesting because sometimes i say why is it people have a wealth advisor, have a conscious strategy on optimizing their financial assets. but they don't have a great travel adviser that can sit down like we were talking, and not actually take the time and effort -- charles: they think it will cost a lot of money. you go on line -- >> they think they can do a better themselves. what is so funny is warren buffett has this great thing,
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you pay value, what you pay is what you get and we have grown tremendously. people thought our profession was gone. really wealthy 27-year-olds, i didn't know you existed anymore and we have accused the growing business because the great travel adviser will find the best value for uns one of the best things we do is what you know, who you know, if i send you to africa i am not sending you some place you haven't been. when you arrive with your family will meet the people i have relationships with. charles: it all sounds exciting and i am trying to get a trip, a nice family trip. we may hear from you. i want to see that ticket too. the humble prairie chicken, you know that humble prairie chicken, actually protected by the federal government. it doesn't sound like a big deal to you but guess what, it is
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probably going to cost thousands of jobs. we will reveal the second team in our advanced to the final text torn in 4 would be big moves? the answers next. it's a growing trend in business: do more with less with ss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind. so our business can be on at&t's network for $175 a month? yup. all 5 of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day.
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charles: back to the tech 20. we told you google has advanced to the final four as those they will play the winner of netflix versus ibm. this is one of the closest matchups we have had so far but ibm is a big winner knocking out the number 4 c. ibm the huge blue chip company. you know and voted for it, the dividend probably didn't hurt, might have swayed a lot of you. in the next hour we will reveal the winner of microsoft versus amazon. and twitter facing apple, is there enough? find out in the next hour. take a look at this. not often we actually talk about the prairie chicken on this program but the obama administration just placed on the threatened list, halting a bunch of businesses, agriculture, oil, gas drilling and other wind forms and activities so maybe this could be another hurdle for the keystone pipeline.
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>> it certainly good. i have not heard much response to this. i love birds. i am a bird watcher. this is a member of the grouse family, the lesser prairie chicken -- a beautiful bird and it is good reading but the species, a population of the species has been cut in half over the past year. one thing they're quick to point out is that one of the biggest creditors, the hawk, prey on them sitting down wind turbines and oil rigs, this could seriously hamper in all the states. but this could kill their economy. one thing they are leaving out is this bird in large part was decimated because of drought in this region. he could potentially bounce back so the fear from an economic perspective is they will use this listing from president obama to halt oil project, halt certain parts of the economy that could kill jobs and special interest groups use this to
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their red vantage in a way that really stifles -- i can see both sides of this. charles: the owl in oregon was a big deal. >> we have a right to protect these birds. charles: the hits keep coming. jimmy fallon once again taking aim at obamacare, the latest late night jokes are next. mike row, mr. working america is here to talk about his latest push to get everybody back to work. our two starts in two minutes. predicting the future is a pretty difficult thing to do.
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but, manufacturing in the united states means advanced technology. we learned that technology allows us to be craft oriented. no one's losing their job. there's no beer robot that has suddenly chased them out. the technology is actually creating new jobs. siemens designed and built the right tools and resources to get the job done. iwe don't back down. we only know one direction: up so we're up early. 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
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♪ charles: it is pretty simple. new this hour, it jimmy fallon makes fun of obamacare. the voice of the american worker joins to talk with us. if you are listening to me, you own restoration hardware today. it is up big. it is a great brand in the
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making. the detroit tigers,annual salar. here we go. our two. ♪ charles: what is the difference between obamacare website and lake michigan? lake michigan is only frozen part of the year. [laughter] >> why did the chicken cross the road? because he was not able to keep his current plan and that is where his new doctor is. [laughter] charles: that was tonight show host jimmy fallon. again, joking about obamacare. every night there is a joke about obamacare from one of the late night show talkshow host.
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tracy byrnes joins us now. the more you learn about it, the less you like it. >> it is about respect. there is no respect for this man or his policies. that is what is happening. charles: maybe because he said, for lack of a better word. that just has not happened. i am not sure how you continue to win votes when you continue to talk like that. charles: they are concerned with jobs. people want to get out there.
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>> also in apple, really shocking, almost half of the increasing current income over the last two months came from medicaid payments. it is because of obamacare. charles: another number for you. >> i think that it is kind of appalling. basically, you are food shopping with medicaid. charles: we are sort of taking money from here, shifting it over there. >> i think you make a point about young people these days.
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coming up with fabulous ideas. charles: these late-night guys are hip. charles: the government closes its investigation. the stock responding pretty nicely. they were up earlier. relatively unchanged right now. now to amazon. they will reportedly offer free movie and streaming services that are ad free. >> so interesting. are they or aren't they? amazon.com is up 1.7%.
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we are watching netflix closely to see how it may react. we will see what turned out on this one, charles. i do not think that this story is done yet. charles: yeah, me either. tracy, maybe we have weathered the storm for the week. [laughter] >> i think, look, everyone is still trying to push this thing higher. we have been talking about the bio tax. charles: we have done this the whole time. they are all highfliers pulling back. let's take a look at restoration hardware. they have posted a
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better-than-expected forecast. right now we have a brand welding consultant from san diego. welcome back to the show. we know you cover a lot of companies. restoration hardware is a company that you like. >> i do. i think that they are a great brand in the making. charles: why? let's talk about it for a second. it was a hot stock. it felt like it imploded. i happen to love this story. why do you think it will grow so much? >> the complete transformation. a full-scale luxury lifestyle brand. in doing so, they are doing interesting things. the culture they are building inside their company is all about values in the cause they are pursuing. you see that in the customer experience as well.
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let's talk about the next topic. the president of taco bell joined us yesterday. they are going right after mcdonald's. what do you think about their new strategy? >> i think that it is very smart. they are leading up to the launch producing a whole teaser campaign. if they completed the contest, they won waffle taco paraphernalia and things like that. that created more excitement in anticipation of this. charles: what about the ronald mcdonald thing? how brilliant was that? >> hitting mcdonald's where it
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hurts. charles: although, i do have to say, it is really mean to name your kid ronald mcdonald. lulu lindeman's earnings were an absolute disaster. this guy gets on the phone and talks about the lifestyle of the clothing. you think this will be a real comeback story? >> the ceo himself as a great pedigree. he has the luxury background. he really needs to focus in on the culture. that is what i like to see him do. i think that he does that well. he will be successful. charles: you covered a lot of ground. we appreciate your expertise. we will talk to you soon. apparently, they want to use solar powered drones. facebook has become such an
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innovator these days. >> let them. corporate america should wrap their hands around things and go for it and not rely on the government. the last thing we want is forgot the government to hand out cell phones. charles: a large part of our budget goes to helping people in rural areas. time and money. charles: a ton of ipos debuted in the last couple of weeks. a lot of people remembering the tech bubble making comparison. for me, it pretty much marked the beginning. it was a leading dutch internet service provider. the largest ipo. the ipo valued the company at $18 billion. the stock plunged.
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talking about feeling stupid. shares more than 60%. danny hughes is here with me. he remembers those days. a lot of people making comparisons to this era. >> remember the globe.com. charles: sure. we have the top 1099 ipos were up an average of 430%. there is no comparison to right now. you have to think about what board that ipo monster. you had a really great market leading up to it. that is the underpinning for a great ipo market. a global market that is really stable and that people are investing in.
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charles: the fed was not involved at all. there was this sort of hysteria. the atmosphere. you were there. everyone lost their mind. >> iran the ipo from 1996 to 1998. there were four-five deals a day. every institution that we were working for where the back door. these deals were popping hugely. it was a different marketplace. deals were priced differently. nowadays, if you are not doing $250 million deals, it is not even on the tape.
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how do you feel about the market? we have had a big run. >> this is the rally that everybody hates. we are up 170% on that s&p. companies were doing buybacks. i think people are waiting for the other shoe to drop. from a global perspective, we are seeing growth. that is why ipos across the globe are doing really well. not just in the united states. charles: thanks a lot. really appreciated. 250 -- well, imagine that. not too bad.
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you only wear it once. the whole story for you after this. we have the people that can help you with this. ♪ ♪
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[ male announcer ] when fixed income experts... ♪ ...work with equity experts... ♪
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...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration. charles: another ipo, another cloud ipo. right now the stock is debuting. up about six points. it is good to have you on the show. the ipo is off here a little bit. earlier in the week, we discussed the idea that the cloud is getting so crowded, so confusing that it could even be a bubble. are you worried about the debut so far?
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>> we have a lot of great investor meetings on the road. the enthusiasm was dampened by some of the market conditions. we are absolutely extremely excited. we are deeper than a lot of those other cloud companies. very different than many of those other companies. charles: who would you compare yourself to? where do you fit in that gigantic geography? >> the bulk of our business comes from wi-fi infrastructure. we use the clout to make it dramatically easier to operate. 2.5 million mobile devices showing up every year.
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we compete with cisco. not in their cloud data service. charles: despite the little bit of a shaky start, congratulations. we know that cloud is the place to be. hopefully we will have you back down the road. our next guest has made it possible for you to where the big names you are wearing on the red carpet for just a fraction of the price. from what i understand, you had on a different dress in the green room. [laughter] >> that is the benefit. you can always change her outfit. we have a warehouse with 50,000 dresses and around 30,000 accessories. charles: this is your brain child? >> yes.
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i was looking at my closet and my sisters closet. i realize 50% of the stuff in that closet was articles of clothing we had only worn once or twice. that stuff goes to waste. the idea of renting just seemed like it was a smarter choice. >> it is genius. exactly what y, short, long, your body type and you can get these ridiculously expensive dresses for like $30. charles: how long is the rental? >> anywhere between four and 12 days. charles: what are the stipulations? you spill something on it, you rip it, what are the ramifications? >> we charge every customer $5
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insurance. that covers all party fouls. the way that i think about it is -- charles: we run a huge dry cleaner. i think beyond that when you run something that is highly luxurious you make sure that nothing happens. charles: it is an ingenious idea. who is your target customer? is it mostly younger women or across the spectrum? >> most of our customers are professional women. they are very busy. they do not have time to go on the weekends and go shopping. this is really convenient. it ships straight to your home. you get all of the accessories. all of the handbags.
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it is one and done. charles: did that you say you're going to run something this weekend? >> for $30, why would you not. i have to go a -- go find a place to go. why not make your saturday night dinner a little more special. create a reason to rent. have more fun with fashion. it should not feel difficult. you should not have to wear black every single day. in the break, you were saying you own all of these dresses. some of them could be thousands of dollars. >> the growth margins on the business are fantastic.
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we are able to utilize inventory multiple times before be clear it from the site. one of the things that benefits us is women on the coast tend to rent things that are highly trendy first and then those trends will seep into the middle of the country. charles: very strong cash flow. mine staking ipo. are you considering the next leap going public? >> i think we have a long way to go before considering that. we are just entering this year with the next stage of our growth. charles: it is a fantastic idea. we appreciate your time. it is just beginning. speaking of which, we have another great one for you guys. social media app clout. we have the ceo after this.
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the final four, will it be amazon or microsoft? we voted and your results are next. ♪ [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. spt-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistincthouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorsm
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from td ameritrade. ♪ from td ameritrade. so our business can be on at&t's network for $175 a month? yup. all 5 of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line, anytime, for $15 a month. low dues, great terms. let's close! new at&t mobile share value plans our best value plans ever for business. how much money do you 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. ♪
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if we want to be ready for a longer retirement. iwe don't back down. we only know one direction: up so we're up early. 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
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last hour we told you google and ibm identify all four. time to reveal the thirteenth event, amazon took in microsoft around two, making the case for microsoft even though amazon and three seeds, a longtime shareholder of microsoft but still amazon was too strong in your opinion and they are the winner. they will face apple the two c or twitter the 10. can twitter pull off the up side? we will let you know little bit later in the hour. now for this. miguel cabrera is the highest-paid baseball player ever. lauren simonetti has the mind-boggling numbers. >> he is not even 31. he turns 31 next month. miguel cabrera, the 4 tigers paying an $292 million over ten
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years. we will see if he makes it that long. that contract was $275 and if you sit down on an annual basis it is $31 million and that too is a record. detroit wants to win this series. charles: hopefully they will do better with him than with a rod. big social media deal to talk about, lithium technologies for $200 million, joining us from san francisco the ceos of those countries. i want to start with you, you are a friend of the show. feels like it came from out of left field. why i use selling out? what is the reason for this? >> when i met rob we connected
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on the vision of what we thought about cultures of our company. one opportunity we saw for the world that we could bring to the world, we wanted to join forces and take on the world. charles: what does this say about the world, what does it say about us? people wanting to know what they're score is and how they rank in the social media world? dr. keith ablow is extraordinarily critical of that whole space thinking it is narcissistic. does it say we will become more narcissistic? >> i don't think so. one of the things clout did early was shown by trying to wring can influence they could demonstrate the power of their platform and processing 50 billion from 500 million score profiles on the social web. the magic of this deals.
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and 400 largest brands. stuart: how the major money? when people go there, they are encouraged to go often enough to win gifts and prizes. how do you guys make money? >> lithium is the largest provider of social engagement tools to large brands. we post them on behalf of the brands to be used for customer service cases where we help them redo's the cost of serving by capturing the best content from their fans and advocates and experts. and help in marketing and sales. and vibrancy to sell more. stuart: 9 understand you guys a good friend. you running great circles. congratulations and we will have you back later to talk about
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this more. mike rd is the champion of the working class and blue collar worker being criticized for the latest video, mike rowe response to this after the break. >> open my door to all and together we build chairs. and bird houses. and whatever that thing is. but then one day they pulled the plug. i've always had to keep my eye on her...
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(announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates. charles: micro has become the voice of working america. here's a clip from his latest video. >> some things are more important than dancing. it is time to get back. what ottawa does best, because we are worth it. it is a beautiful thing. charles: we are thrilled to welcome like road back to the program. welcome back to the program. >> thanks, nice to be here. charles: that video was in response to a school closing down their vocational technical department, a lot about rage from the kids themselves and did underscored the message you were trying to share with america for a long time now. >> the basic idea from the last
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campaign was work is a beautiful thing. in ottawa, ill. they essentials closed the building trades program and i have too much time on my hands but it -- would is a beautiful thing and it made me proud to see 150 kids up there protesting the closing of their trade school program, their basic building trades. they fired a popular teacher, dave keely. the kids came to his rescue. this sort of things happens all the time across the country for various things but i have never seen kids protest the closing of a shop class. my whole thing since 2008 has been to try to shine a light on the fact that if we don't get it back into schools we will have a fundamental disconnect with respect to our ability to make things in this country. when i saw these kids getting suspended and being forbidden from going to their prom for basically taking a stand for work i thought somebody ought to
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have their backs so i did a quick video and threw it out on line and the million people have seen it and we are talking about it again. stuart: last time you were here i got the notion you were anti college. help me understand. >> you and i didn't have a chance to talk. i was talking to stuart varney about it and one of the tricky things about this whole conversation is if you suggest that an apprenticeship program or on the job traininggrams are being underpromoted what almost always comes back is this idea that mike doesn't want you to go to college and. i got no skin in that game. i am concerned about a trillion dollars in student loans on the books and lending money to educate for the jobs that don't exist any more. if you can't afford a college
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education i say go for it but as far as being anti college, i am anti-that should be something special you go to hawk to get. i don't think that is necessary to you and -- use the useful skill, not all collagens is from college for the taking. charles: this should be a lifelong endeavor. i am concerned because i see a lot of science jobs, i see the high-paying jobs, we talk about a kid who's starts the company, what's app. the sting has come existed? >> you got to be careful what you focus on. the whole $19 billion transaction is fascinating, so is the next winter of american idol but how many people will do that? it is important to find examples
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around the country where people come to the defense of regular work. is not a union issue. we can have endless conversations about labor. this is about work, the dignity of work and being able to sit down with a kid early on in his or her life and say if peace our options. some of them look blue, some of them look white but they are all options and the other tricky thing that is going on you mentioned science and technology, there is huge stem event at the end of april in d.c. and my foundation took a big pavilion and invited dozens of companies in have science types them jobs available but you would never think to find them there. that is because so often today skill and stem, even though they need to be together are never presented that way. that is a trap. charles: were you pleasantly surprised, something you said
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triggered a thought in my head that these jobs are promoted as being evil lot of people. there are a lot of kids out there who weigh their options and a lot of people to be quite frank consider on the sidelines and not take any job until is comparable to the pay of something someone in our generation would have been proud of. when i was growing up on man was someone who said his family and kept a roof over their heads and you don't get a lot of credit for that these days. >> dirty jobs was a show worked on a long time and that was a tribute to my granddad who basically was hard wired for work. he was a mechanic and a welder and an electrician, he did all these things and was seen as somewhat heroic because he was so good at it. today we look through those people. part of the reason there's so much opportunity in the trades right now is from a very eerily age we position those jobs as a
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vocational consolation prize. we might not spell out that way but there is the continuous, steady, implicit belief that if you are not cut out for colleges see what is behind door number 2. this is the way you should go. that reinforces itself. charles: we got to let you go. so happy you took the time, extraordinarily informative. we want you to keep pushing. what you are doing is pushing for america and thanks a lot. >> nice of you to say. give those kids in ottawa a shout out too, fighting the good fight. charles: we will sweet about it later. we were the first to ask the question are there red flags in the market? is a correction coming? market watch and usa today have jumped on the bandwagon. obviously they are watching us. get the latest on the fox business network. dierdre bolden will be here with us for the real halftime report. 90 seconds, i will try to make you a little money.
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does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. does breathing with copd weigh you down? don't wait to ask your doctor about spiriva. charles: time to make some money. i mentioned this on this show before the target scandal, we took profits and it is under a
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lot of pressure and made a lot of deals and polluted the little bit but now might be the time to get in the caveat. earnings estimates have come down and made some deals, and a sweet spot over the next five years and significantly outgrow the rest of the competitors, and 71, 72. the stock is back to $80 if you can buckle up and hold on for the ride. security is where it is, these things are not going to stop and this is one of the best names in the entire space. coming up next the real halftime report.
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charles: time for the real halftime report. joining the company from chicago is larry levin, nicole petallides, john layfield, tracy is still with us. market watch and usa today waving the red flag, what do you make of it? >> we will see, charles payne, that is the way it goes. it is a big move and a lot of talk about the stress tests, you have been covering that and citigroup as well. banks actually might have the
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$150 billion that most in the community have. charles: the stress test? $500 billion and there's not going to be blood in the street? >> the fed is cracking down and the bigger question of what do you what your banks to be? and the ones sent to the risktakers the charles: i want to the big, boring -- >> the punching bag. why is city the punching bag? charles: the most egregious ones out there. >> the ugliest dress that deep from. >> i'm not a big fan of the stress test, i don't believe in them. i think our banks will always be big. the government will always bail them out when they get in trouble. it has been happening for hundreds of years all i don't see why it would stop now but it really is the reality of what we deal with. charles: i you worried about this being the beginning of the crash? >> not a crash. i don't foresee that.
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we might have a correction but we were up 29% last year, we are relatively flat at the end of the first quarter. that is pretty good bet there are a lot of negative things, structural high employment, stress test and a lot of bad news out there in foreign policy concerning oil and the country. i wouldn't be surprised to see a correction. charles: here we are. some hot stocks, i want to go to you first, general motors versus tesla, both of them in the news and handling their pr problem in a slightly different way. which of these automakers is a better buy? >> never bet against elon musk. thank god they had the south african entrepreneur taking the place of our space program and what government should or could be doing. tesla is massively overvalued, people are betting on potential tesla, it is up for the run company and a lot of problems
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with this ignition recall they have. charles: want to move on to restoration hardware, pretty upbeat forecasts. how stock caning in? nicole: one of the picks we are following, the stock is up 11%. talk about the high end home goods and luxury shopper keeps on spending and i want to know if the gorgeous arena is will. is real. >> he has enough money to live in bermuda and the gorgeous like that. i don't know who spend money like this especially in my house but you don't have children that spills on every four minutes all over the place. charles: the self ups cannot get on them. back to face book, they want to bring everybody into the web, use solar power drones. what do you think of this one.
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>> it is all about connectivity and what mark zuckerberg is trying to do is beam up speaking of nasa, higher communication experts from nasa. the idea is to give people in other parts of the world who don't have internet connectivity access to the internet. we are talking the next frontier. africa is a big one. charles: america is a good one. my taxes have got to go up for america's cellphones service. i don't know about you but i think he is amazing. john mentioned elon musk but you got to talk about mark zuckerberg as well. larry, on oil, made a big move yesterday. the president happens to be in saudi arabia. not sure if there's a connection but it is working out. >> traded above $100. it is going to keep going higher. we will talk about the driving season. producers will do the best to push prices higher. charles: yesterday we had a
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heated discussion. apparently you were watching because you want to weigh in on the northwest football player being the green light to unionize. >> an absolute disaster. i play college football and i am for playing college players, and allowing them to accept endorsements, should be a trust fund until they graduate. make them legal employees, the scholarships will be taxable. that will kill your swim team and track team and the steel union is funding this, they want to get $16 billion that is in college sports. they are looking at this as a money-making venture not to help the smaller sports. that is one they don't go after. >> he is right about everything. charles: i said i think they should be paid. i don't think they should be unions. he articulated much better than i did.
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that is enough. >> i will take you -- charles: the get the plane tickets. i want to talk about sotheby's. they are auctioning off thought finis violence in existence. that is a lot of money. $45 million. talk about alternative investments. this is right here. >> it certainly is. you hear that music and see the beautiful instrument but there is a lot of support for these. my real house means mutual fund strategies mimicking hedge fund strategies is more traditional but if you have a hobby and want to spend money and hope it can increase in value you have seen over the past year with christie's and sotheby's, prices are through the roof. charles: antique guitars and antique watches. stocks and bonds. can't wait for it to start. more "varney and company" next. it's a growing trend in business:
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charles: one more team to reveal the apple 24 seed by market value against with a number 10 see the upside, was there enough said? there wasn't a. that is the one you chose.
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google will square off against ibm, apple, amazon, and massive need to vote, it has been a lot of fun so far. the cost is going up again. >> $30,000 record high, the national costs, 87,000 in new york city according to another thing that surprised me about the recent survey is the average age in which we are getting 31 for men. both of those were high. charles: your take on gwyneth paltrow, a lot of it next.
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find out if your business can qualify at start-upny.com impact wool exports from new zealand, textile poduction in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds 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. charles: a lot of reaction to those comments on facebook and twitter pages. >> i gave up tight, i don't wear tights anymore. charles: you guys weighed in on
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this too. the average person cannot rely on money like a celebrity. matthew had she has no idea of the demands of the average goes through, and i am sure her job is demanding but it comes with fringe benefits we will never see in our lifetime is. she has completely lost her mind. i wish she could spend a day in the common folks shoes, she was born with a silver spoon in her mouth and has never taken out. tracy: i get when everyone is saying but she is not home every night to kiss her kids good night like we working the schmucks are so i take my job any day. it is hard to be away from them. 14 days, two month that is on a lot to happen. she can come home and they are more attached to the nanny than her. charles: you make a valid point but a lot of viewers would be disagreeing. >> there are two sides. cheryl land animal taken from here.
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cheryl: the dow up 103 points. happy day. thank you, charles. i am cheryl casone. adam: i am adam shapiro. banks hitting back at the the federal reserve stress tests. why some are now questioning the transparency of the process. cheryl: president obama in saudi arabia with the ukraine situation, should the president convince the biggest oil producer to join the u.s. and put pressure on russia's vladimir putin? and if the saudis will help. adam: the king of advertising, rare and exclusive interview with the man who is credited with creating the media agency the ceo of wpp's group and on what is next. cheryl: he never does jimmy. adam: how the world is changing. first shares of city have been hit hard after the proposed capital plan failed the fed

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