tv After the Bell FOX Business March 28, 2014 4:00pm-5:01pm EDT
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shorts how they had to cover. [closing bell ringing] blackberry working on new products but still under pressure. david: prices very quickly from the premarket activity. look at all the rioting down on wall street a lot of people excited that this market did manage to pull out a gain. in fact did quite nicely off its lows in the past half hour of trading. looks like dow jones will end up about up about 56 points. s&p and nasdaq a little less so. particularly nasdaq. that was flat a little bit. it traded negative about a half hour ago just for a moment. it ended in the green, barely so but we'll take it. russell 2000, barely edging out a very small gain but in thened they're all green. sandra: decent gain for broader markets since the s&p was best performer. that is up half a percent on the session. david: great point. >> front page headlines, david. david: go. m issuing a stop delivery order on some 2013, 2014 chevy cruz
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compact cars for an undisclosed issue. our own jeff flock that the company could announce official recall of these vehicles later tonight. sandra: charter communications formally asking time warner cable shareholders to reject comcast's $45 billion takeover. charter which also tried to make a deal with time warner cable, said the buyout agreement was the result of a, quote, flawed process. david: the commerce department saying consumer spending rose .3% last month after gaining .2% in january. it is an important number because consumer spending accounts for about 2/3 of u.s. economic activity. sandra: another report shows consumers remain uncertain. the thomson reuters university of michigan consumer sentiment index dipped to 80 this month from 81.6 in february. david: u.s. safety regulators closed an investigation into several fires in tesla model s cars. regulators determining the incidents were not likely to become a trend. tesla's stock moving 2% higher on that and other news as we
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just mentioned. sandra: shares of cbs outdoor made a strong debut after the company's ipo the billboard advertising company now trading as a stand-alone business after being spun off from the media giant cbs. "after the bell" starts right now. david: by the way, i'm noticing right now, more news on this tesla deal with the governor of new york andrew cuomo. he says the state's car dealers will allow it to keep five existing company-owned stores, as long as it doesn't open more direct sales outlets in the state. so it's a limited victory for tesla but definitely a victory. let's break down all of today's market activities. the dow is up 58 points. we have rob stein. he will tell us which three sectors of the economy stand to grow. gary goldberg financial services president will tell us where to put money work.
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phil streible from the pitts of cme. phil, i want to start with you. seemed like groundhog day because it seemed like triple-digit gains would go negative. in the end the dow pulled out a fairly nice advance of the tell us about the trading activity today. >> it was kind of a wild drive. we came in saw a strong move upward. some of the economic data overseas was a little better but we thought the u.s. would build on that. seems like tensions with russia and ukraine are starting to rise again. we had obama come out to make commentary, hey, russia, you need to push some of those troops off the border. we saw crude oil prices shoot up to the 102 level a lot of geopolitical risk start to surface and stocks came off result of that. sandra: rob, we saw the dow shoot up out of the gate triple digits up 150 points and sits near negative territory and fishers slightly higher on the
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session? seems like there is some hesitancy here in the stock market. >> a lot of effort to get nowhere basically. i think it is a more normal trading pattern than we had last year. prices rally to level where people had visibility in the future. they decide the risk/reward at those levels is not so attractive. it sells off and buyers come in and say this level is attractive. a fight between buyers and sellers who now have the visibility what the future looks like good or bad to make investment decisions unlike last year and year before where they had no visibility and it was kind of a guess. david: oliver, you know what is making me more bullish on market the fact you're pretty bullish. last time you were here you weren't all that bullish. i know you said you weren't completely a bear on the market. what makes you positive? in fact you think the s&p will end up at 2,000 by end of the year, right? >> we haven't changed our view. here is the biggest positive investors should take away. this is not a high conviction market. meaning people are not just
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jumping in and doing the dash to trash we sometimes see what markets are really in bubble territory. to me and to us at gary goldberg financial service that is is a big positive. we'll have to see what earnings come out in the coming few weeks here. >> season kicks off in two weeks. generally speaking the market hasn't gone anywhere but earnings have risen. economic growth continues to be there. let's face it, the fed is very active. we may see tapering, david. that is far from hitting the brakes. there is fed put out there. that's a good thing for markets. sandra: phil, down on the pits of the cme, while the stock market might might not be budging, a lot of commodity price, unbelievable. oil back at nearly $102 a barrel. i'll ask you the question, i get in the hallways. what is driving oil prices back up to these levels? >> well, again it is rising geopolitical tensions. also, you know, last week when we looked at inventory data we saw another drawdown out of cushing. that thinned a lot of supply especially if the midwest.
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we're starting to see gasoline prices creep up back over $4 at the pump. a lot of props going on. a lot of people are seeing a selloff in the technical pattern we had from 104 down to 97. we're moving back up. we got a 50% retracement and i think we move back up to the highs from here. david: rob, despite all the money made in the past year or so, there are still a lot of people in cash. i speak to a number of people on the sidelines. they have quite a bit of cash with some of these people. they say i will not put my money in now. i waited this long. i will wait for wait for a significant pullback and are they making a mistake? >> yeah. betting on a pullback is sort of a one bet game. it either pulls back and you invest and turns into a bigger pullback and you're sorry you did that. it pulls back and rallies you win or it just rallies. one of the three scenarios is only one that works. it is getting better
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economically speaking. there is still a lot more we can do. earnings are growing. economy is not rolling over. the risk of wealth destruction seals off the table. expected direction of risk assets and stocks next several quarters is up. you have to figure out a time to get in and not try to wait for the pullback. sandra: oliver i want to ask you specifically what sectors you're liking right now. i know one of them is large cap technology names. a lot of which have been the leading, leading the selloff that we've seen this week. >> sure. so that is where we see the most value sandra. you guys at fox business did a great report on kind of old tech just earlier and those are the names we really like. the microsofts, intels, ciscos, the oracles, the apples of the world and apple you can kind of argue is a retailer or not. but those are the type of areas we see good growth metrics. we see strong balance sheets which is incredibly important, in many cases a very good different den and again is
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attractively valued compared to a lot of areas of the market. so by the way is pharmaceuticals. global pharmaceuticals are attractive in our view. we, again, having 18 to 24-month outlook on these stocks gives us the ability to not worry about whether they happen to be leading on the downside today or this week. david: rob, let's talk financials for a second. we had the stress tests release this week. big shocker on citi. was to a lot of people. did that make you hesitate at all in endorsing financials? >> no. you know, i like the sector as a whole. you can express that with some etfs, and we like that. the, fxo. but, one individual stress test on citi doesn't deter what we think is happening in the financial sector. david: by the way, did you see that coming? a lot of people said it was such a qualitative thing. it wasn't based on quantity. it wasn't based on their capital reserves t was based on these quality indicators the fed now
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has. do you think it was a fair charge? >> no, i don't. i think you will hear more about it in the news in coming few weeks. it certainly wasn't anything that deterred what i think can happen next several quarters in the financial sector. as interest rates, spreads will widen and will be good for banks and demand picks up which i expect to happen in the second or third quarter, demand for borrowing that should also produce a positive backdrop for the financial sector. sandra: phil, let's take that one back to you in the pits of the cme talking interest rates. i know you're watching them down there. big jobs report next friday. spin this forward for us ahead of the weekend. how are traders expectations shaping up? >> well, i mean, you know we still think that the jobs report will probably surprise to the upside. we've seen significantly weaker numbers over the last couple of months and are starting to creep up. i think with weather-related issues behind us i would anticipate we see a again a surprise to the upside. you probably see interest rates start to gain up.
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you will have the 10-year treasury and futures contracts make lows ton that move. sandra: thank you. rob stein, oliver portia, philip streible. we will come back to you, by the way, phil, shortly for the s&p 500 futures close. david: thanks guys. have a good weekend. sandra: it has been a straight shot higher for oil this week as questions as phil just said remain about ukraine and russia. president obama visiting saudi arabia today. are high oil prices here to say? could they force the president's hand when it comes to our strategic petroleum reserve? david: also hedge funder bill ackman bet a billion dollars that herbalife will fail. well he also has been spending a lot of money inside the beltway to try to make sure that that happens. we'll tell you exactly how coming up. sandra: and dogfighting, what dogfighting? michael vick's past has become a distant memory as the football player signs with the jet. do we trade in forgiveness or good performance too quickly? we're going to debate that one. everyone has a debate on that,
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dave. david: including you folks. join in the conversation. do you agree or disagree we're too quick to forgive if a player performs? tex us @fbnatb. your answers a little later. ♪ [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace
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shares of h&r block rising more than 6% today. sandra: let's head back to nicole petallides on the floor of the new york stock exchange watching it, nicole. >> getting a boost for h&r block as we approach the end of march, right. we're heading into april, april 15th, tax day. look at h&r block stock, up 6.25%. it closed $36.30 a share. it has had pretty good 2014 to the upside. up about 4 1/2% this year. however over the last year or so, not as good, to the downside over the last one year, down 3%. today's move, up 6.25%. actually really raised h&r block in s&p 500. much of those 500 names, h&r block comes in number two spot as best performer, beaten only by gamestop, number one. back to you. david: david: nicole, enjoy your weekend.
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sandra: s&p 500 futures closing in chicago in about 10 seconds. let's head back to fill material in the pits of the cme -- phil streible. what do you see, phil. >> we'll close right at this spot, 1850 level on the s&p. it is real interes see how thine weekend. see if anything develops with russia. if it doesn't we'll look at chicago purchasing managers index here on monday. a little bit of inflation data coming out on monday and jobs data later in the week. that's about it right now. sandra: have a good weekend, phil streible. david: thanks, phil. upbeat week for oil, crude rallying up to near $102 a barrel. u.s. billionaire george soros proposed a plan for the u.s. to punish russia opening and selling our oil reserves. we have, i don't know, 750 million barrels there. it appears some u.s. lawmakers are listening. sandra: really? is that a good idea? what kind of impact would that have on the energy market?
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we have david greenberg, the founder of the david greenberg joins us and raymond james energy analyst joins us. is that correct? all right. guys, thanks for joining us. david, i know we got pretty heated with our oil conversation last time you were on. >> always fun. sandra: it was very fun. let's keep this fair and balanced here, tell me, what sense does it make to tap the spr to bring oil prices down? >> it makes absolutely no sense. it is an interesting concept but, first, you know, it would only bring it down for a certain amount of tile. secondly, putin just spent $52 billion on the olympics and went in an invade ad country. the concept of hurting them for $42 billion i don't think he is too worried about or in the long run it will make any difference. to me it just makes no sense. that is there f only for one reason only. that is for our national security. you don't tap into it and don't play with the markets anymore --
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david: i have to tell you, this is gaining some currency. not only george soros on the left saying but you have people, conservatives the u.s. is never be in the business of buying oil in first place. there are 700 million barrels. $750 billion worth of oil. you don't think it's a good idea either. assuming that oil is spilled on the market suddenly, wouldn't the price of oil dramatically go down? might be temporarily but long enough to hurt russia? >> well, yeah, if you spilled 700 million barrels on the market, yes of course it would crater the price on a temporary basis but, you know, as david said, look, this is for emergencies. under the international energy treaty the united states, you know, has kind of a nato for energy supplies. we have agreed and our allies have agreed to share oil stockpiles if there is a supply disruption. war in the middle east, you know, hurricanes in the gulf of mexico. it was used after
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hurricane katrina, you know, all those years ago when the u.s. was short of gasoline. so, playing political games with the spr is the absolute wrong thing. go one step further. those politicians who say that the way to punish russia is to sell u.s., or ship u.s. lng gas to europe are equally wrong. lng exports are not, are not a political game. and the fact of the matter is, ukraine doesn't even have an lng terminal to take our gas even if we wanted to ship it there. you have a lot of political rhetoric around these energy implications arising from ukraine crisis but all a bunch of malarkey. sandra: first of all, the idea wouldn't be to ship liquified natural gas to ukraine. it would be to ship it to europe which gets their gas from russia through the pipelines that go through ukraine. that being said, i want to ask you, dave greenburg, with oil at $102 an barrel, i know you're an energy bear. how do you feel about where
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these prices are today? >> i'm always a bear on energy because i always felt they're a little high due to the electronic nature of the market however we've been in a very tight range. i'm seeing 95 to 110 unless we have, world peace is never going to breakout overnight. you will never have to worry about coming in $20 lower but i think there is lot more risk to the upside. if you look at large trader report, the spec end of the market is very strong right now. they could definitely push this thing higher. even though i'm a bear in general i could see market stablizing to inching higher next few weeks. david: with all the new supply in the world, i know right now there is shortage in cushing, but again if the pipeline opens up, if we continue to explore and exploit here in the united states and maybe they begin to do some fracking overseas in places like poland as well and china, isn't the price a little too high based on all that new supply? >> well that is certainly our team's view. we think brent is going to average 102 this year.
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95 next year. and wti well below that for both years. you know, we're not saying oil is going to go to 30 or 50 but, yeah, absolutely. over the next 12 to 18 months, we envision global oil demand growing about 1%. global oil supply growing more like 2% and on top of that, if there is recovery from libya, libyan exports, and perhaps iranian exports, if there is a nuclear deal, that would be on top of that 2%. in which case, inventories build, and by definition, prices have to go down. david: as long aspect regulators stay out of it, right, sandy? sandra: you're teeing me off. david: i'm trying. i'm dating her. sandra: he dropped the report and specs an want to drive this thing up. let me tell you something. they don't have a bias to the long side or the short side. you and i both know that david greenberg. >> this is debate for on-air me
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and you. we'll have fun. call me back. sandra: david you were supposed to buy me dinner and talk about this. >> as soon as i come back from the lovely weather i will come take you guys to dinner, no problem. sandra: a good conversation. david greenburg and pavlov, thank you. david: apple what about apple? sandra: apple may be about to super-size the independednt phone, david. the blogosphere is on fire with new talk how big the next iphone will be and exactly when it will be released. the details are going to be next. david: i want a big one. he is one of the most controversial players ever in nfl history. well, now he is joining the new york jets. will the jets fans forgive michael vick for being involved in dogfighting an animal torture? and how will the vick brand perform in new york? sandra: and tell us what you think. are we too quick to forgive bad behavior from celebrities or athletes as long as they perform? tweet us @fbnatb.
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sandra: time for a quick speed read of some of the day's other headlines, five stories one minute. first up a report by tech crunch says apple will launch a 4.7-inch and 5.5-inch iphone as soon as september. the tech giant is expected to increase the display resolution of the new devices. toyota is recalling 119,000 avalon sedans from 2003 and 2004 model years because of airbag
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problems. they know one injury related to defect but no fatalities. ford is upgrading a ohio pickup plant for the f-150 pickup truck. they will add 300 jobs to support production. mcdonald's is offering free coffee after taco bell rolled out its new breakfast menu. the fast-food chain promotion is available at select locations for two weeks, david. connecticut has the highest minimum wage in the country. connecticut governor daniel malloy signing into a law a measure that will raise the hourly wage to 10.10 an hour. that is today's "speed read." [buzzer] >> i made it. hedge fund manager, made a billion dollar bet that herbalife would fail. he has thrown money direction of politicians making a life tough for herbalife. coincidence? my next guest doesn't think so. petewer schweitzer government accountability institute and author of, extortion, a great
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new book out for your perusal. peter, thanks for coming in. good to see you. >> david, thanks for having me. david: first of all the obvious question, bill ackman, is he buying influence, yes or no? >> yes. i think there is no question that he is and i think the evidence is pretty strong. for example, you know, senator markey wrote a letter to the federal trade commission saying that herbalife should be investigated. actually, ackman put that letter on his website the day before it was reason released, or sent to the ftc, which indicates there is certainly collaboration and cooperation between the two. and, david, what's troubling about this, we're used to stories about, you know, companies trying to buy influence to get politicians to do something for them. in this case, somebody is buying influence to get them to do something against someone else. david: right. >> so they can make money. very, very destructive and very troubling. david: let's talk a little bit about markey and more details. a very interesting case there. he spent an hour with bill ackman.
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markey claims he never received a direct contribution from ackman but it is interesting that the day that markey won his, remember he replaced, john kerry when he became secretary of state. the at this that he won the election, ackman gave $32,000 to democratic senatorial campaign from which markey received $45,000. indirectly it appears ackman contributed to this guy, right? >> that's right. the democratic senatorial committee in this case acted as a middleman. the other thing to point out of course is ackman hired as consultants, people that used to work for senator markey. and has hired them as either his lobbyists or his communications strategists to work on this particular issue. so you can bet those individuals that ackman has hired are also giving to senator markey and are helping him in his re-election campaign. so you know, he is technically correct. no direct money but there is a lot of transferred money that
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takes place in d.c. where they can avoid that appearance. but reality the money is going directly to him. david: his denials stretch credulity to the breaking point, senator markey's denials. markey said he was unaware his actions would have any effect on the stock itself which, he has to be living in a cocoon if he really believes that. let me ask a more dangerous question though. is it possible, could a politician actually trade, make a bear bet, make a short trade on a company that he has badmouthed in congress? >> sure, absolutely. you know, the fact is, and we've talked about this before, i mean they can trade stock. they can buy stock. they can short stocks, when it is related to legislation, that they're working on. they may hear something from, somebody who is contributor, who is, you know, shorting that is a hedge fund investor that is shorting a stock. they can go out and certainly criticize a company. that they, have shorted on the
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market. absolutely. there is technically nothing illegal with them doing that. it is, you know, it is very troubling. for all the talk we had that came up with the stock act where they were dealing with insider trading by members of congress, that bill was gutted. and the reality is, they can do and, you know there are very curious circumstances timing of stocks, investments by politicians that raise that troubling question. david: we should emphasize there is no evidence that markey shorted herbalife. >> correct. david: even though he clearly got money indirectly from ackman. however, if that ever comes out, the guy's toast, right? >> well, yeah. you would think so. you know, certainly have the question, it is not only member themselves. it is, their staff members. it's family members. it is former staff members, that they're in communicate with. the problem in d.c. you have all this amazing information that is being tossed around, relating to regulation, all sorts of issues that affect companies as in this case herbalife.
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so it is not that difficult for somebody to trade on that information that doesn't have to disclose their investments the way a senator or congressman does. david: peter, finally, very quickly if you can, there was some effort partly made because of the work you've done exposing all this to change that, to tighten the rules by which politicians can speak about and affect stock they hold one way or the other. the first attempt at that was a toothless gesture. is there anything of substance done since then? >> no, not at all. really honestly, you know as we talked about before the only solution in my mind you've got to have members congress, their investments need to be in blind trusts of the you can create all kind of laws. the problem those laws in this case are enforced by the securities & exchange commission, which of course is regulated and funded by politicians. so it is not going to work, if you set a rule or law that the sec has to enforce. they're not going to do it. you have to force members of congress to put their
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investments in a blind trust that is the only solution. david: peter great to see you again. thanks for coming in, appreciate it. >> thank you, david. sandra: why trade bond when you can trade ads? a new breed of traders is making a move from wall street to madison avenue. the founder of media crossing, a former currency trader will tell us why next. david: this is a great idea. you want to stay tuned for this. maybe they should be called recall motors. sandra: ouch. david: gm getting set to issue another recall affecting one of its best-selling models. we'll tell you the details ahead. ♪ i ys say be thman with the plan
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david: car research site edmunds.com put together a list of america's most popular vehicle brands for the month of february based on their online search popularity. coming in number five, mazda cx-5. that did not translate sales. it was not among the top 20 selling cars in february. coming in number four, the jeep grand cherokee. that is familiar name. number three, the new version of the toyota highlander. while this suv may have a a ratings on edmunds site, it is not a top selling car. number two is the honda crv, which was the 13th best-selling car in february, but sales basically flat year-over-year. coming in number one, once again, honda accord. the accord was the 8th best-selling vehicle in february. sandy.
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sandra: why trade stocks, david, or bonds, when you can trade ads? former wall streeters are ditching their finance jobs to join the multibillion-dollar fast-growing world of buying and selling online ads. david: billion dollar businesses so why is on line ad business appealing to traders and technicians. we have a former chief technology officer, former currency trader and hedge fund guy and you got into this. tell us first of all, ted, how this works because this is extraordinary? as far as i understand it, what you do you buy ad space and then sell it off to the most appropriate buyer, is that right. >> right. well, first of all thank you both for having me. david: it is a pleasure. >> media cross something independent digital media trader. what we're doing connecting buyers and sellers as you say. you've seen banner ads and video ads, right? 34% of those are traded in real time. what we do, we use our algorithms to figure out best ads to buy. among publishers we figure out
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to best monetize their assets. sandra: sam at guesstimate mail, you own that ad space? kind of like opening in physical terms a billboard? is that accurate? >> i that is about right. what we buy and sell the right to show the ad. absolutely we have a space there we trade the right to show. sandra: from? >> internet publishers and exchange traders. david: why is it better for me if i could buy one of these ads to go to the supplier themselves rather than get a middleman? >> that is the old model. i think what david, what has happened, we have seen a lot of evolution and democratization of this market. what used to be a direct buy can be made more efficient because we have market forces in play. david: i'm paying a middleman. i'm paying you to connect me to the ad space. >> in the old model you were paying middleman. you had an agency involved. they charge cost plus basis. they make more anyone any when you spend more money. david: how do you charge. >> this is interesting thing.
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as your audience know, financial risk is not bad thing, excuse me, efficiently risk managed at a company by reward. so we are turning our risk, we're putting our skin in the game with our clients. we make money only when they make money. totally different model. sandra: this is expected to be an eight 1/2 billion dollar business. in last few years it is already four 1/2 billion dollar business. what kind of money is getting thrown around in these ad deals? >> so these deals are pretty good. you can see all different sizes. because each individual impression is so small, they're traded per thousands. it might be 10,000 doll lars per thousands. you're talking about millions and millions of impressions not hundreds of millions in average buy. sandra: your competitors are? >> there are a lot of players in this space. we don't think we have direct competitors. we're built from the ground up as financial company. there are companies that buy and sell and trade ads on your behalf. their model is very different than what we do. david: do you ever get stuck? do you ever buy ad space and not find a buyer for it?
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>> it can happen. can happen? sandra: that is the risk, right. david: how much percentage of time it happens? >> it doesn't happen that often. the reason why we have great quantitative rigor. we have great technology and working with me and my cofounder in samford, connecticut. we risk manage the way wall street does. we really figured this out i think. sandra: we ran a full screen. you have 27 employees. you're founder of this firm, head of this firm, employer now. former currency trader, former hedge fund guy. why is this more attractive to you than sitting on a trade desk? david: nice question. >> you said it yourself. 4 1/2 billion reasons people think this market is getting somewhere, right? look, this is opportunity to blaze new ground. in my career when i see a market evolve and you guys see markets evolve, you know what? i really want to be part of that. how can you turn that down? sandra: you seem passionate. david: will you do an ipo anytime soon? >> look, that is not our goal. our goal is to build very strong trading company. david: has anybody come to you say i want to buy you, a piece of you anyway. >> we have entertained some
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offers but let's be clear. we have a lot of ground to cover. we're building this for two years. we have lot of potential and we really want to make something of that. sandra: a great concept. david: brilliant idea. >> thank you both. sandra: thanks for joining us. ted yang, media crossing founder and chief technology officer. david: i'm waiting for ipo more problems for gm the automaker is halting sales of some versions of its most popular cars. why is all this happening? what does it mean for gm in the long term? sandra: the entertain fare relwilliams has had quite the year so far. shows so signs of slowing down. the multi-tolt at this talented -- multitalent artist, i'm a big fan has a new deal with a apparel company. we will have the details when we go "off the desk." ♪ [ male announcer ] hands were made for playing.
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legs, for crossing. feet...splashing. better things than the joint pain and swelling of moderate to severe rheumatoid arthritis. if you're trying to ma, now may be time to ask about xeljanz. xeljz (tofacitinib) is a small pill, not an injection or infusion, for adults with moderate to severe ra for whom methotrexate did not work well. xeljanz can lower your ability to fight infections, including tuberculosis. seris, sometimes fatal infections and cancers have happened in patients taking xeljanz. don't start xeljanz if you have any infection, unless ok with your doctor. tears in the stomach intestines, low bod cell counts and higher liver tes and cholesterol levels have happened. your doctor should perform blood tts before you start and while taking xeljanz, and roinely check certain liver tests. tell your doctor if you have been to a region where certain fungal infections are common, and if you have had tb, hepatitis b oc, or are prone to infections.
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afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protecon. and because usaa'commitment to serve current and former military members andheir families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. sandra: quarterback michael vick is one of the most controversial players in the nfl after he spent nearly two years in prison for crimes related to dogfighting. now vick has sign ad $5 million contract with the new york jets. it ignite ad barrage of opposition from some fans in other organizations. you don't have to look far on internet to see all of that. david: that's for sure. joining us whether michael
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vick's brand can overcome these new challenges, is lee hawkins, a man who spent some time with mr. i can have. "wall street journal's" celebrity business reporter. sandra: hey. david: doesn't it all come down whether he plays? if he plays well, if he gives the jets a winning season won't all this be forgotten? >> real simple, david, the public's tolerance comes down and guy wins and comes up with a super bowl ring and they forget about all these kinds of thing. the atrocious crime he committed is a huge one. if he can win a ring, a lot of people will forgive him for it. sandra: when i started reading about him, to see the latest, i saw that roger goodell, the nfl commissioner is saying that he respects michael vick for his return to the nfl. >> yes. sandra: he of course, condemned him when all this was going on but he has come around as well? >> well he did suspend vick at the time. there was a lot that vick did. he went out and spoke to the humane society. as a matter of fact, or with the
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humane society to at risk kids. as a matter of fact in 2011 they lobbied congress for animal fighting spectator prohibition act which makes it illegal to bring a child to a dogfight. it's a felony. if you attend a dogfight, and adult it is misdemeanor. guess what? that passed in february. it was a part of the farm bill. and it did pass. michael vick was a big part of that in partnership with the humane society. david: he is not young. he is in his mid 30s. is there any way of calculating how much money he could have made if he hadn't been stupid enough to do this dogfighting stuff? >> he made a lot of money but spent a lot of money. his bankruptcy was 20 million, okay? a lot of that had to do with lavish spending, bad real estate investments and he just had people around him that didn't care for him. david: if he hadn't, obviously he took time off to go to jail. if he hadn't gotten into this, missed out over on $100 million? >> probably, very much so. the interesting thing he lost his nike deal. a lot of people wouldn't have been able to come back from
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this. as you know most chapter 11s in general people don't pay back all of their debt. he did that. got his nike deal that. he got omni technologies and three other deals. he is a guy who is cognizant realizing he can't make mistakes. i always say that celebrities get what i call, a bad behavior card. they get two or three credits on that card. justin bieber, milesy cyrus, you twerk on grammys. people will forgive you for that. but dogfighting atrocious crime like that he basically used up all of his credits. >> i think his performance on the field will be much more harshly critiqueed now versus before this. >> has a double challenge, he understands that the fact that he is 34, he is injury prone. he is a guy who really suffers from concussions. he is smarter off the field than he is on the field. david: you asked him about some of these things. >> yes i have. let's take a look what he said.
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>> like you say, in my brain. >> you feel like you restored it 100%? >> not 100%. because always will be a work in progress. would i say, 65, 75%. >> is that a lot higher than you anticipateed? >> oh, yeah, way higher than i anticipated. >> look, really simple. you will not see michael vick in a bar fight. you will not hear about him getting a dui. i don't think that will happen. the problem, the problem is -- david: sandra is a little skeptical. sandra: i'm just saying that -- >> you should never say never, that is true. reality he is not necessarily smart in the way he runs as a quarterback. he is almost like a run back. david: by the way he does have geno smith nipping at, bad expression, going to say nipping at his heels. forgive me, that is a bad pun. geno smith we should mention is the second string quarterback. >> yeah. david: if he stumbles at all, if he stumbles at all geno smith is there to take his place. >> vick has to be starter.
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here is the good thing about it he will bring morale to the locker room. he is older guy. he will be a leader. people will respect him because he will work really hard because he knows he has geno smith behind i am. it is -- him. possible by mid-season he could be injured and out and could be a bad investment for the jets but, wow, kudos to him for even being on the field. sandra: give him a fair shot. he did his time. he is back. the in. if. l invited him back -- nfr invited him back. david: he is working with spca to -- >> if you get a law passed in congress, large live because of you, that is good thing for anyone, especially michael vick. david: lee hawkins, a good thing for us. thank you for coming in. sandra: thank you. david: general motors pr nightmare is getting even worse. the auto giant halting sales of its best-selling car in the u.s. we have the very latest coming next. sandra: plus strapped for cash? you might want to think before walking down the aisle because tying the knot might actually break the bank.
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sometimes we trip ourselves up. and although the mistakes may seem to just keep coming at you, so do the solutions. like multi-policy discounts from liberty mutual insurance. save up to 10% just for combining your auto and home insurance. call liberty mutual insurance at... [ thump ] to speak with an insurance expert and ask about all the personalized savings available for when you get married, move into a new house, or add a car to your policy. personalized coverage and savings. all the things humans need to make our world a little less imperfect. call... and ask about all the ways you could save. liberty mutual insurance. responsibility. what's your policy? sandra: another blow to general motors.
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the auto giant telling dealers to stop delivering some models of its most popular u.s. car, the chevy cruz. david: jeff flock in chicago with more. another one, jeff. >> david, sandra, no, not good. this may ultimately may not wind up to be a big deal because it doesn't affect that many cars but still not a help to gm's image. the cruz, the gm best-selling passenger car, not just chevy but gm's best-selling passenger car. they sold almost 250,000 of them last year. they have not yet recalled but sent a dealer bulletin out don't sell 2013 and 2014 cruises. cruzes. they didn't explain why. they sent the bulletin out. the dealers i talk to say this is fairly unusual. we usually don't get something like this. what could it be? as i said they're not saying. look what the cruze owners are saying out there on the forums that we talked to or we refused earlier today. a cruze owner named blue black,
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almost got hit by 18 wheeler twice since the car would not is being sell rate. rpms revved but the car did not go faster. another owner, having same trouble. thing doesn't move like it used to. if i kick it into pass the thing refs, doesn't hardly move at all. scary to drive on the freeway. acceleration problem. this is 1.4 relater turbocharged he have begin vehicles. half of the ones they sell are like that. this is fairly short production window it will not be that many cars. maybe when they wind up saying mary barra comes to congress, you know what, out of abundance of caution, we're trying to make sure everything is out there, everything possible is out there. but not helpful right now. not going to be a fun week for gm next week on capitol hill. sandra: thank you, jeff flock. david: thanks, jeff. enjoy the weekend. we asked you on twitter and facebook when it comes to celebrities and athletes are we a little too quick to trade in
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forgiveness for performance. david says, we're too quick to forgive and forget. some things are more important than sports achievement. time to go "off the desk." adidas announced a collaboration with pharell williams. he will use bionic yarns. collection of fabric and yarns made out of plastic debris from the ocean and weaved with cotton. first time adidas collaborated with a designer that owns a textile company. pharell is know stranger to the fashion world. he announced a deal with uni glow with a deal to debut the collection in the summer. sandra: a couple spent a record high average of $30,000 on their weddings last year, 5% increase from the year before. according to a survey by not.com -- knot.com, only 20% said economy affected their wedding budget. david: speaking of the economy that is the number one thing we'll watch next thing of the marchs jobs report released at
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8:30 a.m. eastern. economists have estimate. they expect non-farm payrolls to rise by 200,000, up from 175,000 in february. they expect the unemployment rate to tick down .1 of a percent. sandra: "the willis report" with gerri willis is next ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration. mfs. when folks in the lower 48 think athey think salmon and energy.a, 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,
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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. it's one more part of our commitment to america. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it,
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isn't that what retirement should be, paying ourselves to do what we love? ♪ gerri: hello, everybody, i'm gerri willis. right now on "the willis report," a warning to travelers as crime ring is busted at airport. >> you think that people would work here get screened, background checks and everything. so you think that they're good people. gerri: new information how to protect yourself. also a bank makes a big mistake and now a teen faces prosecution. whose side are you on? we'll crack open the case. they have been likened to termites eating away at your retirement. time to tamp out those pesky chiefs thieves. we're watching out for you on "the willis report."
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