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tv   MONEY With Melissa Francis  FOX Business  March 28, 2014 2:00pm-3:01pm EDT

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"money." melissa: we can't wait. market is up 73 points and there is. >> fox business's "money" with melissa francis. melissa: that was jon stewart, more on that in a moment. changing the way wall street gets punished and who pace for it. a financial regulator is here with his plans. new rules on activist investors. we've been talking about this all week. the most connected man on earth, literally. this guy is hooked up to 700 censors and he is here. even when they say it's not it is always about money. melissa: wall street better watch out, if one regulator wees his way, a lot of people could be forced to face the music personally for company wrongdoings. in fact one law firm is actually warning clients that financial watchdog, benjamin love ski is getting more aggressive in his crusade to make people pay. here to discuss is the regulator
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himself. what is behind this? >> i think we've done a lot of thinking over the last couple years at dfs where i work. one thing we realized is, we have had a series of corporate actions and big corporate penalties paid, case after case after case yet the bad conduct seems to continue. we hear scandal after scandal after scandal. if it is not money laundering it is tax evasion. if it is not tax evasion, it is libor manipulation. melissa: those are very serious crimes. a lot of people think what you're talking about after the financial crisis we hear again and again from folks saying we had whole financial crisis no one is in jail. no one from the big banks went to jail. do you extend it that far. >> i don't think in terms of jail. we're a regulator and civil enforcement authority. we don't put people in jail. we don't have indictment authority. i think about it in terms of responsibility. i think about it as the reputational problem wall street has. when we focus so much on punishing the entity, the bank
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or the sector, you give everyone a bad reputation. i think actually most people on wall street are good people trying to do a good job. melissa: would you have handled the financial crisis differently? would you have gone after and personally fined jamie dimon and other folks at head of banks or people making mortgages in would you have gone after their personal pocketbooks? >> look i think every case is different and you have to look at each situation. you have a monday any laundering case. you have a mortgage fraud case, you have this case. for each case i think we have to be asking ourselves as regulators, who actually did the bad conduct? at what individual, because banks themselves or institutions themselves, they're corporate group of people jo would you have gone after people, after individuals involved in the financial crisis? >> in the right kind of case i think in any situation be where you have provable, bad conduct, i think we should be asking who at the bank did that conduct? don't just punish the bank and shareholders with huge fines. sometimes that is appropriate.
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sometimes it is not. if you start to focus on individual accountability. someone must have taken a bad action when something bad happens at a bank. a lot of settlements over the years read like nobody works there. melissa: that is lot of angergy polks even when banks paid huge fines it was shareholders and customers because that's where the money comes from the meanwhile executives and perpetrators actually acting got big bonus. a lot of people believe what you're saying. a law firm warning all of its clients, saying anyone who is lending to consumers, anyone who deals with credit, you better be careful because this new regulator is after you. should everyone be worried. >> no, i don't think it's a question being after people. we really don't think about it that way. to me it is more, if you're, if you're attempttempted to engage in conduct you know is wrong you should be thinking twice bit. that is the point. if we have real individual accountability, people will think twice before they do wrong.
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if it just big banks paying a big fine which is small percentage of profits they make and coming out of shareholders pocket anyway you don't have that kind of deterrence. deterrence is the key word. if you don't have the deterrence, i think we're just going to keep seeing scandal after scandal after scandal. there is always bat apples in any pot. i think key is to weed them out. let the rest of wall street, which is very good, do what they want to do and do it in the right way. melissa: very interesting. a lot of people agree with you. people worry that it would put a chill on credit. we'll see what happens. >> thank you. melissa: really appreciate it. stock market making a rebound here. andrew keane at the cme. what can you tell us about kodak today? >> yeah, i mean kodak is one of those cases used to be like blackberry where they thought they had all the patent value and it doesn't really have any patent value. bloomburg came out with a report on kodak worth $7.50 a share and it doesn't have patent values. blackberry is one of my worst
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companies, number four or five. the stock reports earnings and pretty much will sell off on earnings. like kodak i think it will be headed to zero. melissa: andrew, thank you so much. update on the activist investor backlash conversation we've been having all week. after yesterday's report on some of those investors leaking their holdings, there's a person today for new disclosure rules that would shorten the time frame, the 10-day time frame. our "money talker," today, fox business's charlie gasparino and jonathan hoenig, of capitalistpig.com. he is also a fox news contributor. guys, thanks for joining us. charlie, what do you think about this? this is reaction to the story we've been talking about all week. i go ahead. >> i think we need ben lofsky. melissa: we wanted to ask him on issue and didn't want to focus on this today. >> i want to say this. just another, i don't know why we need ben love ski, i know him pretty well, used to work for andrew cuomo why we need another
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regulator looking at banks. they're beating them up and they will never reverse the financial crisis. that being said, activist invest something easy to beat up on these days. i do have an issue with activists investors playing off each other and manipulating the press and manipulating stocks. example of all those three gentlemen. melissa: icahn, einhorn and lobe. >> i would be glad to be used any of them. melissa: they decide to take a activist position and attack company in particular. they talk about, leak it to different people. it leaks out to the media. the stock makes a move. they have 10 days to make disclosure of a stake they have taken in company. we wonder if that is fair to anybody else. >> could be illegal.
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melissa: and wants to shorten the time period. >> to clarify, melissa, you say attack a company, stock. melissa: pardon me, when they're going to take a position and be loud bit and try to influence the market. >> they do attack companies. >> and there should be no laws on that. charlie, asked where do you draw the line? there is no line. there should be no laws on trade whatsoever. these are private companies. >> there are laws. >> should be private markets. >> there laws. >> i know there are laws, charlie. they only existed since the 1960s. >> whatever. i'm just telling you market manipulation probably existed since the 1930s. >> you know what? the result, let me say the result of these laws, the result of these charlie that corporations have become more dysfunctional because it is harder to actually take a controlling stake. >> i think, i think tax policy and regulations coming out of washington is actually a bigger, is more, makes corporations more dysfunctional. i will point out this. there is nothing illegal with
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bill ackman or any of these guys leaking stuff to the press. when it becomes illegal is when they put a position on, when then when they manipulate the market. that is much more difficult case and that is devil legal. melissa: isn't knit another example where the average investor out there watching the show getting screwed once again. >> no. melissa: these guys leak to their friends. getting it in media. >> they're getting help. melissa: go ahead. >> they're getting helped. a company that they own, someone is buying massive blocks of stock in and trying to educate for change and you know what? whenever you see massive outside ownership of a company's stock you see net result is better returns. your own brook -- melissa: somebody else knows that dan lobe will attack sotheby's and try to make them better company. >> buy the shares. melissa: right. but they have unfair advantage. the person they leaked it to -- >> nobody has fair, this is where i agree with him. there is no fair advantages in the market. i don't care who you are. if you're an average citizen and you want to trade against steve
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cohen or any of these guys, you're nuts. you're not going to do it. there is no, the markets are not a meritocracy. it is not democracy out there. we don't just divide everything up. steve cohen, all these guys will have better access to research than you, bottom line. accept it. >> if you don't want to invest, don't invest. >> i agree with that. >> no one forces you. >> but market manipulation is against the law. you might think it's a good thing. >> define at that charlie, because it doesn't exist. define night i trade to her i own it first and manipulate stock to inhands my positions. probably insider trading. >> jonathan, last word, do you disagree with that. >> he doesn't know what insider trading is. >> your definition -- >> i told you. melissa: stick around. we have got lots more coming up. don't move. as you know by now, "money" got quite a shoutout on "the daily show" with jon stewart, taking aim at the princeton mom herself. susan patton is here to defend herself. you don't want to miss this one.
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did you know the cia is in the venture capital business funding many of the companies that scare us the most? the cozy money relationship coming up. she loves a lot of the same things you do.
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>> we have to stop telling our young woman that there is more to life than just career. work will wait. your fertility won't. here is what people are telling you find a husband on campus before you graduate. yes, i went where. >> you went where. to the 19th century. >> well have never this concentration of extraordinary men to choose from. >> where the worthiest youngsters congregate for scholarships, for butt chugging, for beer bongs. for regular bongs. for chest painting and all around mother disappointing. >> what is the rush. last time i checked, women don't go straight downhill the moment they graduate college. >> start looking for a husband in your mid 30s? you will be competing with girls 10 years younger than you. they're dewy eyed, they're
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fresh, they're adorable. >> why i drink their blood at night. melissa: "money" receiving the jon stewart treatment. we take it as a badge of honor. is the rest of the media deliberately distorting the princeton mom's message? back with us, susan patton. we have charlie gasparino here, who is obviously an expert on all women's issues. >> i don't know why i am here. and jonathan hoenig. you start trouble, charlie gasparino. that is why we invite you. all seriousness, susan. very interesting, he is taking your message out of context completely and distorting it for our laughs. we all laughed. we thought it was hysterical. >> i thought it was hysterical. melissa: how do you feel about that. >> nothing is more flattering than to be lampooned by john stuart. melissa: but. but. he is entitled to his opinion. i'm entitled to my opinion. melissa: there is a but in my opinion. he deliberately obscured what is the main message. which is if you are interested in having a personal life, that
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women should focus as much energy and effort as they do on their career and -- >> exactly. melissa: on your personal life. >> that is exactly right. he obviously transposed those words and that message for his own purpose. i get that that is okay. have a little fun at my experience. i'm perfectly happy as long as showed my book. melissa: i missed the harvard princeton trip to daytona beach that looked like that. i don't think any of those people were, charlie, what did you think about that whole exchange? >> you know, i will say this, that i think, what i like about your position is that you're not, you're actually not dogmatic about it. you're just, being common sense here. if you want to have kids -- >> have to plan for it. >> plan for it. hard to have kids in your 40s. i know women that do. >> correct. >> great that they do. they are rolling the dice. >> i know lots of women who don't have kids in their 40s. meant to, wanted to but took their eye off the ball. >> notion if you want this how you get it. >> exactly. >> this is the problem i have
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liberals, i couldn't afford spring break. i did my share as a kid. had some good times. what they don't, what they resent, liberals like john stuart, i know john's brother, pretty well. larry leibowitz. great people. but what they resent is the notion that, people, women, actually do want to have kids. >> oh, yeah. >> they want a family. sometimes they don't, they want, rather have a family and kids than a career. what is wrong with that? melissa: jonathan i hear you itching to get in here. i don't want to deny you that opportunity. >> john stuart is well-known to manipulate video to his own, not only comic advantage, but often times duplicitous advantage. i'm not a familiar with the book or really the message or the idea. my opinion is that both men and women need the same fundamentals. they need sense of productivity, a sense of self-esteem and worth and independence. i think that is true no matter what the sex is. so, good luck with the book but- >> this is more practical. i think what we're missing here,
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talking 30,000 feet. i think this is very practical. you want to have kids? got to start early. >> exactly. >> find a good guy, good gal? got to kind of look. melissa: that interesting point you make the point, if you are an ivy league woman, you're never going to be surrounded by men again who are so tolerant of a smart woman. >> exactly. melissa: and have a career, who has her own thoughts. >> intimidated by these women. who isn't challenged by them every day. melissa: not just he takes it as you will never find guys this successful and loaded again. shows people on beach and says -- >> is that harvard? melissa: no, that was not harvard. i missed that spring break trip. i would have found out about it. >> that was pace university. my alma mater. class trip. melissa: he intentionally says instead it's a 19th century victoria notion. >> so isn't. melissa: grab a husband. if you want a man tolerant much your career and supportive of you -- >> i think there is feminist attack against, i'm sure i'm getting on one of his clips now,
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on women that, want to have, lead more interestal lives. that is a problem. -- traditional lives. melissa: real quick, jonathan. >> i read your huffington post-reply. i'm curious why did you have to qualify the point, i don't want to put words, this is advice after jewish mother. what did that have to do with it? was there tribalism you felt like you need todd hide behind isn't. >> you don't understand the inside ethnic humor and i'm not going to explain it to you. >> thank you. >> jon stewart would get that. >> he most certainly did get it. melissa: we hear what you're saying, make a good point. thanks to all three of you. we appreciate it. before we head to break the mobile billboard is making way around parts of ohio, protesting plans to raise minimum wage. the institute is warning the public that raising minimum wage to 10.10 an hour will cost up to a million jobs. the mobile billboard is out to
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counter a rival bus tour, called give america a raise. this could get heated. next up, tech giants and the government. the close money ties between silicon valley startups and the cia. we are telling you all about incutel and new face of drones. everyone is doing it. which one will be the first to call a crash? we're talking sky wars. after this. do you have ever have too much money? does it end after you've expanded your business? after your company's gone public? and the capital's been invested? or wn your compan's bought another? is it over after you' given back? you never stop achieving. that's why, at barclays, our ambition is to always realize yours. ♪
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melissa: shares of tesla motors are cruising higher right now. nicole petallides at new york stock exchange. what is driving the stocks, nicole? >> looking good today. the high of the day was 216.72. so off the highs of the day but still up over 2%, melissa, for tesla. good news for tesla, is that nhtsa, basically the safety
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regulators, are closing their investigation into the fires of tesla motors model s that we've seen with those fire accidents. actually they're saying that tesla's revisions that they have done for the vehicle, height of the ride, beneath, also the fact that they're putting in under body protection that actually should actually reduce fire risk. and, they did not identify also the safety regulators, did not identify a defect trend. so that is also good news for tesla big picture and right now the stock is up more than 2%, up four 1/2 dollars. back to you. adam: melissa: nicole, thank you very much. smoke and mirrors routine at silicon valley almost too hypocritical to believe, google rejecting funding from the robotics company, the tech giant is keeping pretty close quarters with the cia. not only tech heavyweight in bed with the intelligence community. here we have tech expert
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rob enderle, former cia covert operations officer, mike baker and charlie gasparino with us as well. here is one of the main points. most people do not know that the cia has its own taxpayer-funded venture fund called in-q-tel, that goes out there to provide seed money to start companies, for example, like pal lan tear. pal land tear is one of the companies that scares us the most. it goes out and mines the internet for data and sorts and collects and provides intelligence and technology to the rest of the world. the cia is behind this with their money. this relationship is very cozy in silicon valley. people don't know that. mike, what do you think about that? >> well, i mean, you know, i guess we all base our perspectives on our experience. i spent a long time with the agency. so my perspective it's a good thing if there is a cooperation between the intel communities and commercial side of life because, you know, frankly for years and years and years, prior to really the tech boom, the
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agency was one of the leading developers of science and technology, of new innovations. and that started to change obviously and we got more and more development and innovation out of the commercial sector, out of private industry. melissa: okay. >> i think this is natural response to that. in-q-tel was started in 1999. frankly their investments in startups, tend to be fairly small. melissa: they are small. >> but aller in of companies have gone on to be bought and very successful. melissa: when you talk to the companies in particular had the investment, that the cia points you in the right direction. they tell you what it is that is going to be valuable and what it is that the government is looking for. maybe it is okay they have this relationship. maybe that we need this technology and in the cia but is it disingenuous for companies like google, to say, wait a second we'll not let you near robots when on the other hand they're doing side by side investments google and government in all kinds of other
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places? charlie? >> i will say that. hank greenberg, former aig chief. hank greenberg gave talks to the cia about china. hank was cv starr which was hank's predecessor firm, opened up one of the first insurance companies in china. hank gave intelligence to the cia. there has been, let's face it, a back and forth between private industry and cia. this is a little different, and here is why it is different. aig was providing intelligence, on the ground intelligence about china. who knows what the cia is getting out of google. that is scary thing. melissa: rob what do you think about this? is it disingenuous when people like mark zuckerberg shake their head so upset about the government looking here and doing this when they know what is going on and cooperating and taking money. >> well, so if you look at the problem here is none of these folks want to be seen as providing your information to the government. because if they do that, if they appear that way, people will abandon the services and they
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make money based on people on services and viewing ads. of course they have to be upset, visibly about that happening. on the other hand, they don't want to upset the government. the government is coming in asking for stuff, they kind of have to provide it because they recognize government has armies. they have attorneys. armies versus attorneys the armies almost always win. go with the laws of land. melissa: it is a deep relationship, mike? give you last word, mike, real quick. it's a dep relationship? >> frankly it is less of a relationship than charlie alludes to here. i mean that is part of our problem in a variety of ways. there is always been church-state separation in a sense between intel community and support of our private sector. melissa: i don't know about that. >> i don't believe so. remember those companies that killed the allende in chile. they have been doing it for years. >> only person having spent time in the organization -- >> you probably killed the guy yourself. >> oh, goodness.
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maybe we'll leave it there. go ahead, mike, finish your point. >> yeah, my point is that, for the french, for germans, for russians, chinese for every other country, the remit for the intel service not only support and protect and develop their commercial sectors. what i'm saying is, not that there is not a relationship that exists and has been improving in the united states. but it's far less than what we deal with both with our allies and -- >> cia has killed dictators, for u.s. corporations. >> what? melissa: rob, stick around. bill gates weighs in on the drone race. wait until you hear what he has to say. would you hook yourself up to 700 censors in the name of connectivity? tweet me, if you would. we have the most connected man on the planet, right here. "piles of money" coming right up. it's a growing trend in business:
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melissa: two hours left in trading, is the mark unstoppable? let's go to jason rodman from wheeling to investors. what do you expect in the next quarter? >> the next important thing investors need to be aware of, superficial economic numbers, jobs, housing, consumer spending, all that stuff but what drives all of that is interest rates. if we have a new fed chairman, chairwoman, interest rates start to rise. the ten year, third year yields coupled the could see the unstoppable nature of the market start to diminish a little bit. melissa: what about the fact the s and p goes up and down, basically going to end the quarter where it started? shake back where we started? what does that tell you? >> my theory is from small retail investor to large fund no one wants to leave the party early. there's a party happening, a bull market party. interest rates are still low.
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it is almost counterintuitive lead the third year interest rate is fairly low. we haven't seen a huge sell-off but if rates start to go up we could see a rush to the exit so to speak. melissa: thanks so much. if you are searching for the next battleground just look up. facebook taking to the skies with an internet connectivity program that would feature drones, satellites and lasers, they have serious competition for air space. and the leg up in the flight for crowd control. what do you think of this story. >> they understand the program they're trying to solve, very low tech, high tech solution is not going to work that well, the environment, the ecosystem
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doesn't support that level of technology and there will be a lot of breakage and problems not to mention those areas are not pro free-speech. and keeping high risk. the google approach might be better, keeping at a lower level of technology and the risk seems to be initially lower. bill gates could probably tell you neither one of these will be ideal. melissa: facebook is talking about drones, google talking about solar power. which i assume will not crash to earth when the sun goes down but they are getting a lot of criticism for that, am i t technology review criticizing mark zuckerberg saying he obligated internet service providers in such places to incur extra costs. what do you think? >> there's a lot of infrastructure issues at stake care and facebook really doesn't have everything for
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internet.org. it is a young organization and looking at just earlier this month they talked about haven't confirmed this but tie-in, another growing company in the south was reportedly selling themselves to facebook for $60 million. facebook won't confirm that but that is an opportunity for facebook to launch into this space. there are a lot of different things going on. >> this is the same problem facebook has about a lot of things, greedy after their own self-interest. bill gates said when you are dying of malaria you will look up and see the drone or the balloon overhead. don't know what good that will do you. isn't there an image problem to getting this far ahead. there are other problems than internet connectivity. >> when you live in a developed country looking at an undeveloped area without spending a lot of time there you will see things that aren't there. you are going to think there is
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an infrastructure that doesn't fundamentally exist. you are going to make assumptions that are fundamentally false. you have to experience the country and pretty much experience from the citizens standpoint, not a celebrity or a guy who is really rich, really get changed his mind how to approach these problems. melissa: appreciate your time. than most connected man on the planet, hundreds of sensors, the closest thing we have to cyborg on the planet, you cannot miss this. at the end of the day is all about money. switchgrass in argentina, change enneering in dubai, aluminum production in south africa, and the aerospace industry 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 their 10-year lipper average. t. rowe price. invest with confidence.
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does breathing with copd weigh you down? don't wait to ask your doctor about spiriva. tracy: i am tracy byrnes with your fox business brief. florida is creating 300 new jobs in its plant in ohio. the automaker will invest 5 and did million dollars to produce new v-6 engines. the 2015 s 150 pickup truck will be the first model to use the new engine. consumer spending rose slightly last month. the commerce department says consumer spending increased 0.3% in february following january's 0.2% spending for 70% of the country's economic activity. walmart suing visa for $5 billion for allegedly unreasonably high switch fees at it's new lawsuit a few months after the world's largest retailer of the out class-action
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suit with other merchants against visa and mastercard. that is the latest from the fox business network giving you the power to prosper.
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cheryl: here's who's making money today. anyone with a piece of microsoft, shares climbing after
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the first public speech is ceo and denouncing long-awaited ipad, shares of 2% right now. steve ballmer enjoying all this retirement. still has 330 million shares of microsoft meaning he made $300 million today, such a great way to start the weekend. also making money alan mulally made $23.2 million last year, up 11% from the $21 million a year earlier. among the best compensated auto executives ever in the past three years, earned a total of $74 million mostly in stocks. losing money dominos, six domino pizza franchisees' in new york will pay half a billion dollars altogether to settle charges that they cheated employees out of pay. the state attorney general says the business owners paid their workers $5 an hour and refused to compensate them for overtime. gas stations -- the most
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connected man on earth at any given time, he utilizes 700 systems at once to monitor his every move. you might think he is the closest thing we have to real-life cyborgs. chris and his 700 sensors are here and one question for you, why? why all these sensors and monitors? >> five years ago started looking at the employment situation in the united states and thought to myself within a decade will see so drastically different what is going to be important for me was about personal information. so much time is sold by attention. how quickly can we get someone's attention but the information we traced to that. melissa: are you marketing something? >> the testing site by. no one has given me anything. melissa: what is it you are monitoring? you have the watch, the phones, the google glass, censors all over your body we can't see. >> i wear a posture built. of by star to slouch i would set up a little straighter. i have a heart rate monitor, i
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am doing okay. and then something called a body medium which gives response for movement and displaying information, anything in black is collecting information. this little camera taking a picture every two seconds. melissa: how do you have time to process this? >> i don't. this is the beautiful thing. what i did as i said all this information should be mine so i started looking for ways to get it out of the systems without me touching anything into one place where i need a search. if you search google, show me this, i can say show me the last time i did this. melissa: what have you learned about yourself? >> i have a lot of bad habits. melissa: give us the clean ones we can have on television. >> for me i lost 100 lbs. dated driven like style. basically i was looking at the habits that happen before and after meals, there is some
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correlation i can make here and started saying maybe i could change the temperature in the house or the lights could be different. melissa: what did e that help you lose a hundred pounds? what you learn from this that helps you change? >> one of the first things i found was how i ate was directed to a lot of things, people stressing out that i wasn't aware of and i would eat terribly a few hours later, certain television shows or types of music would make me anxious or more healthy. being aware of those things and removing them. melissa: is there a way to make money off of this? any way to market this? write a book or something? >> no. i have no plans to do any of those things. was in.is helping people understand their future is tied up -- melissa: there's a way to make money off of this. the show is called money. would you think of this? >> you are using these every day. would you hoping for? >> apple lot of people don't
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know about, keep track of our body sensors and information. apple should make that portable to our doctors. we have about health applications and our trainers and physicians need this information. there is nothing i can share on facebook with my doctor so those are outdated. melissa: thank you for coming on. before we look ahead to what is coming up on "countdown to the closing bell" great news for those busting their guts to get fit for a summer. in new-product will help you get your grease fix, the bacon tram is the world's first bacon flavor weight-loss shake. it is meet flavored and send it. it has 120 calories and a whopping 30 grams of protein. for those missing the gravy there is grade each rim. it is low-fat and packed full of savory goodness. are you sold on this? nobody loves bacon more than i do but i don't want to drink it
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through a straw. >> it does not sound appetizing. i love bacon but bacon ice-cream, bacon shakes i am ruling them out right now. melissa: how will you follow this? what is coming up? >> stick with the food thing, charlie palmer coming up this our. we will ask about the state of the restaurant industry, this land a big gig at the newly revamped historic knickerbocker hotel in new york city so we will ask about all that and the latest on that gm recall, 1.6 million vehicles have been recalled, a live report at the top of the hour from the chicago bureau from jeff flock but also an automotive analyst is going to tell us what this means for general motors. so much going on and how she thinks married beryl will be through this. melissa: thanks so much. up next, getting in on the ground floor of the biggest companies before they hit it big, we have a list of some of
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the biggest losers, and trust me, this will make you feel lot better about your own bank account. you can never have too much money. announcer: where can an investor be a name and not a number? scotade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: ranked highest in investor satisfaction with self-directed services by j.d. power and associates.
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melissa: one company looking comfy to investors, restoration hardware seeing some big gains. pretty good. >> what a great move. luxury furniture, 11.5%, up 80%. they came out for fiscal fourth quarter profit. they continued their sales growth. i just went on the web site, i don't think anybody would turn
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down those -- beautiful furniture and more. melissa: it is not cheap but it is gorgeous. have you ever heard the phrase missing the boat? this group of people must which a had a crystal ball before they made some big bad money decisions. they lost on millions, even billions in the biggest opportunities of a lifetime. hedge fund manager jonathan honig, financial group president, thank you for joining us. this list is staggering. it starts with nolan bushnell, one of atari's founders, he turned down steve jobs to put $50,000 of money into apple, if he had done it, his stake would be worth $160 billion. how do you live with yourself after something like that? >> it is difficult to do so but you have to remember where was he in his own personal life, was
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liquidity available? he was someone, lack of liquidity, wasn't able to take this money and allocate toward this particular investment? melissa: ronald wayne, i never even heard of him, eat sold his stake in apple for $800.32 weeks after launch. it would be worth $40 billion. >> what can you do? you can put a gun to your head and go on with your life. the second option is the better one. we had the extreme, investing in apple back in the day, had that experience of buying the stock and selling it for profit and see it go on and go up much farther. take off the screen and move on. there's always a bull market and opportunities somewhere, these gentlemen and women have a first
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great opportunity and find another one as well. >> what amount of money he was meeting at the time, his cash flow wasn't available or there was something to cause him to sell and get out of this venture. melissa: joe green turned down starting facebook, would have gotten a 5% stake which would be worth $7 billion. $7 billion. all because he was put in the right group. the rest of all diamonds and you turn it down. >> goes to the point we always say anyone can invest and be a finance year. it is not that easy if you have to work hard and it takes considerable skill to know what is a great investment 10 or 15 or 20 years down the line. obviously if he knew this would be a billion dollar opportunity wouldn't have passed a. but the lot of credence on the
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value that investing is tied. melissa: of venture capitalists, very interesting guy was turned down, he turned down a 20% stake in google that i believe he could have gotten for $1 million but ball. >> big money loss. he also may have had certain goals and objectives that his business wanted to invest in a certain type of capital, and this particular venture was according to the communication was too small. we got to leave it there. thanks to both of you. up next the last day of picks for worst company in america. have you send yours yet? you have got to hear these. you can never have too much money. d him twings -- cook what you love, and save your money. joe doesn't know it yet, t he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game om the great northwest.
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he'll stt investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, ich isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. 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.
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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 my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure.
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pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa. melissa: we reached the end of the line, the worst companies in
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america. here is jerrod levy, thanks for joining us. why do you hate adt? >> maybe i hate them, you got to think of what is happening in the industry. you go online, blackstone, a huge competitive going after young regeneration spending money on security but the important thing is technology, wireless technology, basically putting them in a position to become obsolete. melissa: that is a transition into is that. you can buy a company with that technology. do you have any faith? >> i have some faith but it costs money. it is putting themselves among the young people, if you ask about a gt young person doesn't know the name as well as someone who is older and transitioning to something else but that cost money and will take some time. melissa: ruby tuesday on your
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list? >> ruby tuesday's sales down 8% year-over-year, the company is losing money. they are in a crowded space. when was the last time you ate that ruby tuesday or seen them? melissa: before we run out of time why do you dislike them? >> used to be great leverage in this industry, an industry that was once the wild west is more highly regulated. i don't think there is as much opportunity, you got to be careful. >> i agree with what you're talking about but the company that was on my worst list that redeemed itself, blackberry actually doing relatively well. it is working sort of but they will go back to the keyboard. is that a loser move? >> we have so many great responses, so many said airlines. a lot you hate comcast or cable provider time warner cable, we're getting a lot of great
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tweets. thanks so much. that is all we have for you now. happy friday. hope you are making money today. see you back here at 2:00 p.m. monday but now the countdown begins now. >> amazon and avalanche netflix fighting to get peace of each other's action. the ambitions are deepening after the internet giants is in its future. what exactly is amazon at ceo planning? facebook ceo mark zuckerberg's grand aspiration is hardly a secret. what is happening to make it a reality? how a company never heard of until now and nasa are part of zucker bird's brave new world. how to make it big as an american chefs. charlie palmer beat the odds running a dozen restaurants around the country. his latest project, a

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