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tv   Varney Company  FOX Business  April 4, 2014 11:00am-1:01pm EDT

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money. good morning, everyone. can a ceo express a political opinion? not if you are the new guy at mozilla. and taking a small piece of every piece of financial transaction and the government gets a gusher of money. it is a proposal. senator reed really got it wrong. and cancer patient, she is not a liar. grubhub goes public. a lot of youngsters make a ton of money and yes, the job report disappoints in the market set new highs. what a day! "varney & company" is about to begin. stuart: all right, take a look at this, lots of green arrows on the big board. right around 66. a couple of dow stocks hitting
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new highs. new highs. johnson and johnson 99, united technologies $120 new highs both. other side of the corn is amazon down 4% since tuesday's closed. it was above 400 a couple months ago. investors are yawning about new streaming device, maybe it went too hy too fast. then we have anadarko, hit a new high as of right now. even though it just paid out $5.5 billion in an environmental cleanup settlement. how high is high? >> we have seen the stock at 103 and change. and 10141 isn't 2.5%. paying out over $5 billion and takes away the uncertainty, the overhang. they will be paying an outage and when i look at the upgrades
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across the board, credit suisse, bank of america, raymond james, citigroup, do i need to keep going? everybody loves anadarko today? stuart: everyone knows $5.5 billion, when the uncertainty is gone you can proceed forward with the company itself and its future profits and a new high. thanks very much indeed. i want to move on to the tape of mozilla and their ceo brendan bike. i think that is the correct pronunciation. he is stepping down after employees complained about his politics. six years ago he had donated money to support a ban on gay marriage in california. he had been ceo only a few days, now he is gone. can you be up front about your political views if you are the ceo of a large company. charles payne is here. we don't want to get into a discussion whether game there is good, bad or otherwise.
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that is not my point. we want to know about the issue of executives and their freedom to say their political views in public. charles: you cannot be politically incorrect. we are not saying it is fair or anything. there are certain things. a lot of areas you can go to as a ceo but you cannot be politically incorrect. we are asking so much of ceos. you got employees of 40 countries, 100,000 people, everything you have been assigned, guarantee everything, got the weight of the world on your shoulders and have to be careful about voicing your own opinion of something. got to make sure it is politically correct. stuart: if your political views affect the performance of your company do you not have a responsibility to rein in? >> here is the question. it defines what is politically correct or incorrect? what you might consider incorrect might be correct,
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here's where both sides of the aisle need to pay attention to this. business is about politics and politics is about business. they go together. if you start this standard will you apply it to all? are you not allowed to contribute to anybody if you are part of a business? that is wrong. this starts a bad precedent as long as it is held on both sides. charles: it won't be held on both sides. tim cook can come out and say sell my stock if you don't believe in global warming. he can have a strong opinion. people can come out and say don't buy my product if you don't like the way i think we did shouldn't be that way but it is and we have these lines of what is good or bad and you're point who gets to decide? a guy had to leave his dream job for voicing his opinion or putting his money -- >> he left because of twitter comments. this is our contribution, a check he made. this is wrong. stuart: a group led by keith
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ellison on capitol hill calling for a robin hood tax. that is the 1/2% tax on all financial transactions. listen to ellison just moments ago. >> it is not far out idea. it is a reasonable logical idea and when you think of the writings of michael lewis just revealed in his book/boys this financial transactions stack will add a little tax that will make these little superfast, tiny trades, quick trades unprofitable which will restore balance to the system. we are on the press of those of a financial crash again only this time they are telling us it is -- stuart: didn't understand a tale end but what he didn't mention in that sound bite was today's plan was for the anniversary of martin luther king's assassination because they say this is the kind of financial just as he fought for. i know you are bursting. charles: i told you this was
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going to happen the day the book came out. i watched every channel. no one went to the web site or the video. how does high-frequency trading have to do with same-sex marriage, skinny black in front of a dilapidated school? i have known this would be every political ad in the midterm elections, high-frequency trading, i knew it would. adam: where does he get this from an impending crash? charles: anyone who thinks the market will crash you get out there and to push political agenda ofs. here is another thing. another person involved in this, jennifer flynn is part of this. if you ever want to see justice, how corporate interest rise above the interests of the people and justice, look at the global age pandemic, what is he talking about? stuart: he was talking about it. >> how we make americans poor? this does not necessarily hit the lower class, this hits the
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middle class, this attacks their pensions, this is detrimental to the middle class. then they become the poor class. charles: i knew this was going to happen. i am not happy about this. all the stuff from michael lewis has much greater in kent than pushing a book. stuart: not sure how to proceed. charles: anti capitalist anti wall street anti 1%. stuart: we have grubhub, big internet audio, food delivery service, place an order from a restaurant, 30 minutes later your food arrived. very big in the big cities of america. how good is it? >> you can go on seamless.com and look at menus, over 3 million users, 20,000 restaurants and when you order
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from that restaurant, that restaurant pays a fee to grubhub. this idea kicked off today, nice fashion of 41%. stuart: the ceo coming on the show a few minutes from now, one of those youngsters who made a ton of money. matt maloney. probably not worth $1 billion but a significant chunk of cash. julie is the single mother battling cancer called a liar by senator harry reid after sharing her obamacare store with the world. listen to this. >> there are plenty of worse stories being told, all of them are untrue but they are being told all over america. stuart: getting even worse. she is getting hate mail. one letter says and i quote directly you should be ashamed of yourself. i hope cancer kills you soon. a special report, bret baier with us. harry reid called her a liar i believe on special report last
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night you said that is not true, clearly she is not a liar. give us the story. >> all these fact checkers harry reid was relying on and gave his floor speech about, look at her premiums and her cats, spending caps in our health insurance, her old insurance she was kicked off of while discounting hurt story, the problem is the and the fleet news had a blog that looked specifically at all of her charges and many of the drugs and services she needs have or will need in the future are not covered by the new plan, hence her out of pocket expenses are going through the roof which is what that ad said. for all of the rhetoric on the floor of the senate by harry reid and all of the other things that factored in here it is
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turning out at least according to one news outlet in her home state that she is right. stuart: do you think this will end badly for senator harry reid politically? just talking politics. what he said, how he said it, the results of what he said. >> already had to walk pack. he was not talking about everybody's tour story about obamacare. that is what he did say originally but his office had to scale that back and say it is only about the koch brothers's at americans for prosperity and based on these fact checkers. that it is a sign there is significant push back and the administration is celebrating the 7 million figure for enrollment there are many elements of obamacare that are yet to be ironed out and they will be felt real time across the country ahead of the midterm elections. stuart: i want to ask about laws
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lerner. congressman darrell issa may hold her in contempt for refusing to answer questions about her role in the irs scandal. that is uping the nt in this scandal. >> the committee meets next week whether to hold her in contempt. lerner the former irs official who took the fifth, pleaded the fifth twice, refuse to testify. one time, the last time, they apparently had the deal before she came back and she took the fifth again. they are now voting to hold her in contempt. of the committee votes it has to do with the house floor to hold that up but it could be held in court, and one thing, i had a cup of coffee this morning. that is a fiery show. you got to be on your toes. stuart: i will take that as a compliment and offer one to you. you have the best political show
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on television. while we were talking and since i open the the show a minute -- 11 minutes ago it turned negative. i went up 11 minutes ago and said it is a great day for the markets, great day for your money. i am very sorry. i am a contrary indicator. we have a new studies and says drinking too much diet soda can lead to heart problems, even death. my senior producer calls soda poison. that is a little over the top. a nutritionist set her straight after this. [ chilen yelling ]
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[ telephone rings ] [ shirley ] edwa jones. this is shirley eaking. how may i help you? oh hey, neill, how areou? how was the trip? [ male announcer ] with nearly 7 million investors... [ shirle] he's right here. hold on one sec. [ malennouncer ] ...you'd expect us to have a highly skilled call center. kevin, neill holley's on line one. ok, great. [ male announcer ] and we do. it's how edward jones makes sense of investing. ♪ it's how edward jones makes sense of investing. why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com
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(agent) i understand. (dad) we've never sold a house before. (agent) i'll walk you guys through every step. (dad) so if we sell, do you think we can swing it? (agent) i have the numbers right here and bed on the comps that i've found, the timing is perfect. ...there's a lot of buyers for a house like yours. (dad) that's good to know. (mom) i'm so excited. stuart: eight points down, 16563. the price of gold closed 1300, $1,300 as of now. it is 101, up $1.01 of 10130.
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centers for disease control report a dramatic rise in the cigarette poisoning, most of the cases involve children under the age of 5, drinking and nicotine fluid but the industry says they are doing nothing wrong. they can make their product safer and try to do that. listen to what the head of this trade group told us. >> some sort of a label on there, potential hazards. >> we encourage our members and ask people to put labels on and warnings. stuart: labels and warnings. the industry wants its products to be safe. is this a corporate responsibility or is it a parental control issue? >> a parental control issue. if you say it is corporate that is just another example of taking up power of a parent's hands. time for parents to take responsibility for their own choices even when it affects their kids. stuart: disagree.
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if you have got this poison, a little capsule parents should not leave it around where kids can get at it but manufacturers have responsibility to make sure the kid cannot get at it now matter what the circumstances. >> you want a manufacturer in every household to buy cigarettes, get a manufacturer or police person. stuart: i want something similar to the bottle caps on aspirin which kids cannot get a open. >> that is a wonderful compromise but in this end it comes to a parent, they have to make sure that bottle is not where kids can get in the first place. stuart: is that women yellow or canary yellow? >> you need to be wearing shades right now. stuart: when you are killing the cameras. >> i apologize. stuart: the dow is down 14 points, not a big selloff but it is down. we were up 40. moving on soda sales down for the ninth straight year. in particular diet sodas can
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tell you a lot of artificial sugars, not sure pronunciation, we're joined by a registered dietitian laura, welcome to the program. diet soda uses artificial sugars. i you going to tell me that is poison? >> i'm not a fan of artificial sugar. we no artificial sugar and diet soda are both associated with weight gain, diabetes and cardiovascular. stuart: weight gain? artificial sweeteners, weight gain? that is the exact opposite of what they are used in diet sodas. >> the people that are drinking the diet soda, those people are probably less healthy, meaning people either trying to lose weight or eating a lot of diet foods, people that tend to eat diet foods again are not eating real food, they're eating highly processed foods that don't make
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a field full. stuart: financial question. diet coke, diet pepsi last year their sales were down nearly 7%. that is a huge drop for this kind of business and an item here. the american college of cardiology says women who drink two or more -- is a diet sodas -- a day arnold twice as likely to die from heart problems. that is a serious charge. >> it is diet soda and diet fruit drinks. any of the diet drinks, one or more a day are associated with these risks. people have to be looking at artificial sugar. not just soda but diet drinks. stuart: when you are a nutritionist. would you tell people don't touch it with a 10 foot pole? would you say that? >> i never say that to anybody. what i say is it is your choice but i wouldn't be giving it to my kids and i don't forget myself. stuart: would you offer advice not to drink it? >> my recommendation would be to
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drinkwater or seltzer. >> sales have been dropping for four years consistently but within diet drinks there's caffeine which makes an addictive material. how hard is it once you start to stop drinking it? that is the bigger issue. could you quit cold turkey drinking diet coke today? stuart: i drink coffee. >> could you stop drinking coffee? stuart: does that matter? >> that is caffeine. >> caffeine is actually okay. you can have a hundred cups of coffee a day and that is healthy. there are advantages to drinking coffee but diet soda there are not many advantages. >> i don't drink coffee. i get it from diet coke. stuart: there are advantages to taking nicotine every day, not smoking it, putting talk on you concentrate. >> everything in moderation but cure poison. tell me something that is 100% safe we can drink or eat? that is water.
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>> everything has to be in moderation. even if you have an apple and you have too many there is going to be negative side effects of having too many apples. everything has to be in the middle. >> imagine watching this show, take as much as you can get. stuart: you work for the tea party news service. the tea party is fuel on caffeine. >> it is and natural caffeine. freedom is our caffeine. stuart: thanks for joining us. you probably never want to appear on this show again for but thank you very much. 3d hip implants, 3d printed hit in plants, 3d printed food. the sky is the limit for the 3d industry. now you can even print identical miniature models of yourself. we will show you an example in a moment. not exactly a play-doh factory, wouldn't you say? >> that company makes machines, makes little figurines, little jewelry, it is a glorified play-doh factory.
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why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com
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so ally bank really has no hthat's right, no hidd fees.nts? it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally.
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>> i hear crunching.
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stuart: is that crunching? i am hungry. >> five ingredients? i did warn you. i like a little kick. stuart: got to try this. not bad. you might guess that was meeting at 3d printed cracker printed live on our set. we asked if you would eat 3d printed food. you wouldn't touch with a 10 foot pole. here are some of your responses. dale says if they are really using fresh real food ingredients i see no reason not to have one of these to crack out snacks and smaller food lion's. daniel says free food? who wouldn't? you got my number. frank is more skeptical. 3d printing = height. i hope i can short some of those stocks. the future is tech, the rise of digital brendel. anything else is a waste of time. >> i changed my answer. this might be the answer to bad
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cooks everywhere. print your food for dinner. i like this product. where do i get one? stuart: in response to frank i have the answer. sitting on the set. this is a tiny 3d replica of one of our producers, caitlin fish. she had her whole body scans while rotating on a moving platform and the printer was able to get the details of her sweater and her boots. cool stuff. you can 3d print the tiny replica of yourself. bakeries are doing it to put on top of wedding cakes. she is just off camera. thank you. good stuff. yelp, the stock getting no stars from investors, down again today. the issue anonymous negative reviews. we will talk to the attorney representing yelp in a legal case against them next hour. the stock is down 9% this week. mcdonald's shutting down restaurants in crimea due to
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what it is calling manufacturing reasons. no impact on the stock whatsoever but in interesting development. the latest jobs report for march released this morning disappointing. 192,000 jobs added. here is what you had to say about a less than stellar record. gregory says it is time to start breaking down the real figures of unemployment and you can do it. people with two part-time jobs are being counted twice. that is interesting. jim says even today's numbers are inflated to the breaking point. imagine how bad the numbers really are. i smell a conspiracy there. steve says looks like this country is well along the path for a permanent unemployed group of people living off the remaining taxpayers. thanks for your comments. we will expert analysis, expert analysis of the jobs numbers from former labor department chief paul conway coming up a few minutes from now. new york mets second baseman
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daniel murphy took a few days off because his wife was having a child. just so happens to coincide with the opening day. he was putting his family first. don't tell that to the talking heads on sports radio. you would not believe the things they are saying about him. that is next.
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stuart: we are inclined 4 record closes down the stress of two points. this is basically flat. the market kind of wants us to go up and at the moment it is that barely. somebody is selling something. thank you, everybody. two points, n.y. mets second baseman daniel murphy is being criticized harshly for taking paternity leave for baseball after the birth of his first child. murphy is hearing that from sports commentators. he is the father of two. >> i don't mind if that is not me. i wouldn't do that. quite frankly i would have -- >> go ahead. >> see section before the season
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starts. i need to be an opening day. i am sorry. this is what makes our money and how we live our life, this will give my child every opportunity to be a success in life, for any college because i'm a baseball player. stuart: he apologized for the comment. scotty hughes, mother of two, your thoughts. >> congratulations. this was a great thing. i have to be honest with you. he could have made it back for game 2. it was his first child but the truth is men don't do much during childbirth but i am sorry. my husband did not want to be anywhere near. you might be different. the point is, every family has to make their own decision. if it was my case i would have said get back to work. we will see you after that. stuart: nothing like the birth of any child alone your first. that is love at first sight.
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>> and he should have been there and been there for the second game. stuart: he was there and should have been there and he did exactly the right thing. >> he didn't need to stay out for three days. maybe because we are in the field we eat, breathe and live so i have not had a life since i started this at 11 years old and that is why i have no sympathy. this is not a job, this is my life. the same goes over baseball. a lot of people were counting on him to be there. hopefully they won a game. stuart: we are flattered your life consists of appearing on "varney and company". >> i eat, breathe and live "varney and company". is that what you wish for? stuart: big-name you know jeff: s. used car retailer, it is down. not much. 2.8%. they say it is the weather to blame. unimpressive numbers on the jobs front this morning despite huge expectations, less than 200,000 new jobs created. this is the number we should be
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looking at. look at this, 12.7% is the real -- go back to 12.7%. that is the real unemployment number. includes part-timers, the underemployee and edged up to 12.7%. chief of staff under george w. bush with us now. why is the 12.7% no. important? >> the most important thing when you break it down you are taking a look at long-term unemployed, those who are the 7.2 who are working in jobs part-time but whose aspirations and desires are full time work. what you are hitting on the new normal is a class of americans that developed under this administration that are seeking work but cannot find it in full time capacity. stuart: i use a in the number of long-term unemployed people is now 1 million higher than it was
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when president reagan took over in the yearly 1980s. is that accurate? >> that is accurate. that was the era of greed and yuppies and the dark type of stuff but the irony is 1 million more americans are long-term unemployed now than during the reagan era so it is important to look at who are those folks that are in that group? 40% of them are young americans. normal daniels, the people who backed this president in 2008 and stepped away from him in record numbers in 2012. this has long-term implications not just on the political side for the president but the economy and the work force. you need to get these people back and engage and you need the growth rate to increase far beyond 194,000 or 192,000. stuart: we are looking at a growth rate of 2.5%. that is what these unemployment numbers imply. i want to look at what people
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are earning, the jobs we are creating. we had a statistic that said 58% of the new jobs created a less than $14 an hour. that is very low-wage areas, 50%. is that accurate? is that an accurate reflection of the labour market and the pay in the labour market at the moment? >> it is an accurate reflection of it and what you are seeing here is at $14 an hour what workers will be attracted to that? high skilled workers, folks who lost the jobs in the recession on not going to be as attracted to that type of thing based on their skills and experience. they are looking for something else and clearly what you are getting when you look at the household surveys and others where people are working in these part-time jobs but struggling to get a full-time job because they know they can do more. they know they can contribute more. it is not their fault. the fault and the policies that are preventing full time job growth. luann is this the new normal? >> unfortunately i think it is and what it is going to take is a leadership change in the ren
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american consensus that full time work and working hard is something that got us to where we are as a nation. 200 years later. is not republican or democrat issue but you have to have a consensus. since 1929 the historic average economic rate was 3.3%. since 2010 it has the 2.5%. something has to change. it is the programs and the policies of the government that has been elected. that is the entrance to the market. stuart: thanks for being with us today. you are chomping at the bit to get in. >> they had 43,000 jobs created in the month of march. it would be 430,000 jobs. shows the difference between government promoting business and government that is trying to reduce business. overtime hours, to 3 hours per
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overtime worker which means companies can hire will more workers and expect more of the one they have right now. that is scary. stuart: canada exploits its energy. we might have a different number of jobs created. food delivery website grubhub went up today. arrives at your door. that is what this company does. we have the ceo next.
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why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zes where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com
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>> first cup let's look at first floor, citigroup raising the price target on shares from 63 to $87 a report released this morning. first polar up 2%. next appeal, stock is down again today by more than 5%. the issue of anonymous negative reviews may be to blame. we talked to the attorneys representing yelp in the next hour. the stock is down 13% this week. mcdonald's has close three but restaurants in crimea to what it is calling operational reasons. they did not mention political unrest as part of this decision. mcdonnell's shares up 3.4%. look at grubhub, the owner of food delivery services, up in a big way, 40% on a ipo day.
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[ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global ecomy. it's just one reon over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and eenses to read and consider carefully before investing. stuart: the all knowing analysts at william blair. they like the sandwich chain potbelly. so what it goes, 6%. now look at grubhub, a winner today on its ipo day. place an order for food online, you have to call restaurant, the food arrives 30 minutes later.
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not a bad idea. the ceo matt maloney joins us now. you are worth a ton of money right now, aren't you? >> i have been lucky. stuart: i want to know how many employees does grubhub have? >> 700 across new york and chicago. stuart: this idea faces a large value on this company. this to us is wealth concentration with relatively few employees. 700 is pretty good. what you grossed last year was $1.3 billion of >> we promised $1.3 million in sales and send that to mom-and-pop restaurants across the country, 600 cities in the u.s.. stuart: i get on line and go to grubhub and bought food from a local restaurant. where do you make your money? you take a piece of that order? >> that is right.
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we are marketing and technology support partner for the restaurant and we provide incremental borders. this is all about orders for the restaurant. that is why they signed up for grubhub. we made easy entry for diners to place their orders on grubhub. the best way to order pickup and delivery. it becomes a way of life and once he plays an online order you can never go back to ordering on the phone. stuart: we had a production meeting this morning about half of the people in our production meeting used grubhub. you are particularly active in new york city and chicago. you couldn't extend your idea to the suburbs. >> very wrong. we can and do extend suburbs, rural communities, major metros second or third or fourth, last year was $70 billion in food purchased for pickup or delivery from independent restaurants, mom-and-pop shops across the
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country. last year 3% was placed on line in any way, shape or form. we are looking at incredible fields as this industry moves from offline to online and we are in the right spot to accelerate and capture most of that demand. stuart: moving offline to online. that is happening in so many industries. stuart: a big but there right now. y. deal have two website? seamless and grubhub. >> it was a merger. we put together a number 1 and number 2 companies in the state last year. we have a portfolio brand because they're both extremely strong. there are many people in new york and the east coast who love seamless and across the country people know grubhub very well. this made a ton of sense strategically and we can leverage the most powerful friend in whatever market we choose to support with dollars. stuart: how old are you?
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>> younger than 40. stuart: not much of an answer. i could google you easily but can't do it now. arne duncan apps down more than that? >> older than 30. stuart: how many shares do you own? >> we are really excited about how well we are doing. stuart: my producer says you are 36. will you confirm that? >> i will not. stuart: you can come back on this program many times. congratulations. great first day. the department of energy and announcing it will be reopening its controversial loan program for energy efficient cars despite the disaster. lauren simonetti is here. this didn't do what the obama administration did. >> just keeping track. 140 million, 40 million for the company that made vans for the disabled. there is going to be some
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company, private company that spends the money and cracks the battery space and when they do they will make a lot of money. why poor government money into these loans? stuart: this is what was designed to do. >> and have more energy efficient cars on the road and get the parts for those cars being made more quick. there are other things to do with this money and fast-track the process to get the clones. there are other things we could be paying attention to. stuart: interesting being the movers and shakers in the green industry they want to provide money for the green industry, they want government to do it, they are not keen on private enterprise picking winners and losers. >> they want money left from the fund, 16 billion left in the fund because they want to use that so other companies can develop more technologies. stuart: $16 billion. >> absolutely. stuart: that was good stuff. thanks very much indeed. i said it before, men by, women
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shop. maybe some of the luxury retailers were listening to "varney and company" making big changes trying to cater to men. we will explain it in a moment. ♪ ♪ ♪ ♪ [ 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. get the most extensive charting wherever you are with the mobile trader app from td ameritrade.
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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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stuart: back to what some describe as moderately sexist theory on "varney and company". men by, women shop. hearing reports that men spend more on luxury clothing. and to attract men, logical, isn't it? >> you know where this started? men versus men in asia. started this trend, men liking luxury ems and spending more, they did report last year that 40% of the luxury market is men. stuart: 40%? >> ledger in general 40%, clothing, accessories, ties down the line. retailers are listening. they want to triple its number of men stores this year. michael course as well as two
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luxury labels saying they expect their men sales to hit $1 billion in the next two years. stuart: i don't understand that. i don't get it. men have got -- >> i was reading something the other day. younger urban males who spend a lot of money, have a lot of disposable income are really fueling this trend. that is how you say it. stuart: yummys. another story for you. samsung coming under fire for this selfy of david ortiz and president obama. the white house objects to the use of the president for commercial purposes. they have a point on this. >> absolutely. number four jersey, the president of 44th president, great moment for david ortiz but he is paid by samsung. it has the least 40,000 tweets and favorites at this point so
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samsung is getting publicity trying to do the ellen degeneres oscar selfy again and it is not fair to the white house and we don't know if the white house will ask them to take his picture down. they haven't yet. however, a obama within a time--working for weatherapprove garments, made and take that ad down and we know this selfy is not resonating on social media like the ellen degeneres selfy did. attract perception of these things, it is not working the way they thought it would. stuart: it will be taken down. a new thing in advertising. you get the image out there on youtube and tweet it out, different from putting an ad on television or newspaper. this is the new form of advertising. you are right, samsung should withdraw that picture. it is commercializing the presidency. can't do that. >> of course the president will take a picture with the great ball player.
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stuart: who wouldn't? check the share price of yelp down began today. it had a rough week. a lot of bad press about negative anonymous comments posted on yelp ruining businesses. the lawyer representing yelp in. proposal for a robin hood tax in honor of martin luther king's assassination. that is a controversial tie in. we are all over this two minutes from now. [ male announcer ] this m has an accomplished research and analytical group at his disposal. ♪ but even more pressive is how he puts it to work for his clients. ♪ morning. morning. thanks for meeting so early. oh, it's not a big deal at all. come on in. [ male announcer ] it's how edward jones makes sense of investing. ♪ why relocating manufacturingpany to upstate new york? i tell people it's for the climate.
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the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com
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stuart: in the news business you want news and we have got it. watch the market down a little bit now but new records, grubhub doing very well. this market wanted to go up, not want to go down a fraction. we are on that one today. how about a tax on every single transaction. herman cain is here on the robin hood tax.
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looks like they have a problem, their lawyer is here. and google has a problem, they're wired house idea may be too smart for their own idea. panasonic is here with their new app for their go pro. it is winter in new york city. >> first amendment protects the right to anonymous free speech. traffic that the digital era and that is yelp. stuart: weighing in on the yelp controversy. yelp stock down big again today, down 13% this week. here is the issue, businesses complaining about negative anonymous comments posted about their service posted on yelp.
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it has become a huge problem for that company. the attorney in this case and branding consultant, brand building consultant. i want to go to you first. you agree with the judge, this is a free speech issue, is that correct, sir? >> absolutely right. nobody goes after the positive comments. if you have a system which discourages the negative anonymous comments, it would get unbalanced and you would hear only the good news, not the bad news. we need a system that protects the right to say anonymous things in both directions. the problem is it is on the people who say negative things that are in danger of being sued. stuart: you would not dispute it is unfair to gang up and attack a company for no valid reason. a competitor could gang up and attack a competitor, and do it
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anonymously and screw the business. that happens, doesn't it? >> just as you have false positive reviews. what the system does in every state that has looked at this issue other than virginia, what the court does is they say if you have a valid complaint, something false has been said about your business, it is not too much to ask before you take away the right of the anonymous person to keep their speech anonymous, have falsity. stuart: for one second, i am told it is alleged yelp will ask businesses if you want to advertise with us, if that business says no, they are hit with negative publicity. is that accurate, sir? >> it is accurate people have
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said that, it is easy to say in the case i am handling, there were negative statements for about four years. in that for years, yelp signed up a deed for an advertising contract. there was no change in the nature of the comments during the advertising contract or after the advertising contract. i know he is going around and making these claims, but it seems to me he must be smoking something if that is his argument. stuart: what is the nature of the branding problem? >> writes now it is a very popular rand amongst consumers, because of the uniqueness and the usefulness. right now pretty much the only place you can go to get information about the notices in practically every area. as they get more savvy about reviews, that usefulness may
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come under question, so it is going to need to make sure they provide good information people really value. stuart: in the brand building business, what would you provide yelp to do? down 13%, they are getting hit. talking about brand tilting, advice please. >> they are very popular, so they have to continue to provide more tools to get better information about the company they are looking for, not as a sara lee address the business world about the lawsuits and everything. if they provide useful ways of getting information, whether that is providing ways to verify the reviewers or provide other tools that help get more information about the business, people will continue to value the service and probably not even pay attention to the other things going on. stuart: would you offer the
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advice, would you tell yelp abandon anonymity which mark would you say that? >> i'm not so sure. amazon has done a good job writing anonymous reviews and taking users that are verified. yelp could do a similar thing. provide the option of an anonymous review but also if they want to continue building their credibility, providing additional tags may be worthwhile for them to investigate. stuart: are there any circumstances in which he would abandon anonymity for yelp? >> i want to make clear i am representing yelp in a few cases involving subpoenas. reason they took the cases we have taken for yelp is to protect the system under which people with genuine defamation claims get to identify their critics while people who have only fluff don't get to do so. i think the take on the situation is the right one.
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they do understand some users need to remain anonymous and check on the abuse of anonymity is the ability of somebody who is criticized to come forward with a valid claim and claim supported by evidence what was said about this particular business was false. the case that has gotten the most attention, what he has refused to do is come forward with any information of falsity, that is why we have asked them to review the decision that was handed down this winter. stuart: internet reviews are concerned. great debate, we appreciate it. i want you to check the big board again.
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16,500, that is where the dow is this friday morning at the disappointing jobs report that came out earlier today. it has been a very long week for general motors chief mary barra. two major recalls and a grilling twice on capitol hill. today a judge in texas here's the case that would force gm to tell them to stop driving the recalled cars. but the stock is still in the 34-$35 range. no change despite all the very bad p.r. in the background. order your meal online, dinner delivered to your door 30 minutes later. half the production team uses this and look at it go. 39% higher, 36, whose chief is 36 years old.
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nest the company bought for $3 billion in january is having problems with their smoke alarms. why is it down so much? >> nest is a smart device company. it seems to me nest is listen to what is going on with general motors. with one of the smoke detectors all you have to do is wave in front of the device that automatically shuts off. that is great, but in the company's own testing there have been no customer complaints getting the companies testing they found it can inadvertently shut the device off and if you really need it to work in the sake of a fire, you're in trouble. they have pulled a new product
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from the market because they are worried the same thing might happen. stuart: kudos to them for doing that. sometimes it is too smart for its own good. >> we take the towel in front of the smoke alarm. it works best. stuart: we're calling it the michael lewis effect. shares down big again. nicole, it is a loser today and this week. how bad is it? >> down almost 8.5%. they are all coming under pressure. you can call it the michael lewis effect. sources of revenue can be eliminated by regulators. these companies relied on payments, these firms can go to other exchanges to have these executed. the question is whether or not
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these firms are you the best for their customers or fat in the bottom line. that is what the regulators are looking at, it does not mean they are not, but the regulators look into this on the same week michael lewis talking about the market being great, a real negative connotation from the company. stuart: that is why charles schwab aim with such a high frequency trading yesterday. move onto the price of amazon. amazon leaves one of the largest and dirtiest carbon footprint anywhere on the internet infrastructure and twitter is close behind. tech companies are not used to this kind of thing. >> everything is green, green, green. a lot of these major tech companies use data centers some
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of them are getting the cheapest energy available, not worried about the environment when they are getting the energy. amazon and twitter failing on transparency. saying they have no transparen transparency. amazon and twitter getting big fs in these categories. stuart: amazon really is taking it on the chin today. and then we have go pro action cameras wildly popular. videos like these tearing up youtube. people parachuting off of the freedom tower. now a new kid on the block, panasonic things it has a winner. their new action camera coming up after the break.
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why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com
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stuart: i make phone calls and text all around the world lead you get the old bell telephone clarity, and the text go back
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and forth instantly. yes, it is free. you can tell i liked it. that was my take. now facebook is taking direct aim. no reaction, down today. what is the story, what is facebook doing? >> it is down four and .5%. adding calls to the messenger app so essentially you can make the phone calls anywhere. across the world, if you have a wi-fi connection. stuart: free? >> i have not tried it yet. how can your phone do that anywhere in the world all the time. it gives me clarity.
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i don't know how they make money on this. >> so many people use facebook. stuart: you can talk to anyone anywhere for free. >> social media is getting hit hard today. they are in their market category as of an hour ago. stuart: check out these amazing videos come a close-up pictures of daredevils parachuting off of the tower. sharks attacking scuba divers with the go pro action camera. it is the action camera of choice for thrill seekers. don't tell that to panasonic. they released an action camera of their own. troy livingston is here. troy, i will give you 30 seconds to sell me one of them. go. >> i think for your vacation
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this summer when you go to the grand canyon, you want to be wearing this. stuart: what does it do? >> it gives you the ability to record your experience and transmitted through ustream to anywhere around the world. it is completely waterproof in this supply of housing with no accessories and it is compatible for viewing. this going to hit the market on panasonic.com for $399. we are taking presales. this is it, this is the camera, this little thing here. let me explain this thing, this
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is the camera. this is the headset. i stick this on my head, this is the control system, i press the button. >> if you had it on, it is very lightweight and comfortable. you can record anything you see from your point of view. stuart: that is pretty good. i can literally transmit the real lifetime video of me jumping off a cliff to anyone to anywhere anytime with this little gizmo here. >> tell them too lon to log on y the ride. stuart: they had much better publicity than you do. >> panasonic has been making award-winning video products.
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stuart: but you are late to the game. we're going to change the game. stuart: you're going to have somebody put the video on youtube. >> we think it offers double the resolution of our competitor product. when you are recording, it will record 30 frames per second versus 15 frames per second. double the resolution of our competitors. stuart: if i jump off a cliff wearing one of these things and it is recording, people in uganda can see me. what is the power source? >> it has a built in rechargeable battery. about three and half hours of recording time. stuart: you are late to the game, that is an interesting product.
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>> the future looks very good for panasonic. stuart: thank you for joining us. we will follow it, thank you, sir. harry reid verbally attacking women with cancer? extremely toxic comments. my take on that is next. he has a lot of explaining to do. mr. reid. i ys say be thman with the plan
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stuart: i regret to announce we don't look like we're on track for a record close. not too bad. how about market watchers weigh in on a possibility of a record 20 minutes from now. netflix down big. all of these momentum stocks are getting hit bad. amazon way down today. a new tax, or i should say a new call for a robin hood tax. a controversial tie in. hehemacain is next.
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senator reed has a lot of explaining to do. his toxic comments of obamacare victims have backfired. last month senator reed spoke from a floor of the united states senate giving him protection. the people who claimed to have been damaged by obamacare were lying. saying they were absolutely false. one of those liars is a single mother being treated for leukemia. she had said her health coverage had been cancelled because of obamacare and now her out-of-pocket cost are unaffordable. without her medication, should have died. apple of we done absolutely a lie he says. it says you should be a shame of yourself. i hope cancer kills you soon. separately the new york news
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says many of the drugs she needs are not covered under obamacare and the out-of-pocket expense is indeed unaffordable for her. three have come to this, senator reid has called a single mother and cancer patient a liar, and she is not. and senator reid has exposed that woman to further suffering and a vicious poison pen attack. there is no legal remedy. senator reid is immune, that is why he makes the statements from the senate floor. therthere's a political remedy d shirley senator reid and his party will pay the price. calling them liars is worse. the damage rubs off on democrats running for reelection this year. it also rubs off on obamacare. with a whole health care system in chaos and an election coming, senator reed is getting very, very bad publicity. he is a former boxer, he calls himself a fighter.
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then you better pick the right target. attacking women with cancer and getting it wrong is not only bad politics, sir, it is a disgrace. i've always kept my eye on her...
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but with so much health care noise, i didn't always watch out for myself. with unitedhealthcare, i get personalized information and rewards for addressing my health risks. but she's still gonna give me a heart attack.
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that's health in numbers. unitedhealthcare. why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com
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stuart: have a change of direction here. we were up 40, now we are down 40.
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charles may have an what is going on here. charles: we have a modified's dock market crash going on. it started a couple of years ago. the proverbial snowfall has been moldering. talking names of people. the recent highfliers. we got earlier in the week and i'm already down big time. it is huge, massive market correction. here's the good news, mostly money is rotating into other areas. people are seeking safety, but at least not completely fleeing the market. it has been bringing the dow down. >> utilities the best sector.
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the jobs report you can spin it positive message to keep the easy money coming. stuart: he has a particular stock for us that is a home builder. charles: this last quarter was absolutely amazing. for some reason i got down on the homebuilders. i don't know why necessarily. i think there is a housing shortage even if we grow to an half, three and .5% the demand will be there. i think they're so cheap in every way imaginable. stuart: it is so cheap any way imaginable. >> i want somebody to tell me why it is not. stuart: sounds good. we have a group calling for a robin hood tax. that is a half a cent tax on all
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financial transactions. they are doing this to coincide with the anniversary of martin luther king assassination. >> i want to mention to you the prosperity act we believe is something that would make dr. martin luther king proud because he is the one who said that any nation spends more on weapons of war than human uplift is approaching spiritual death. stuart: he says the reason for this timing is this kind of financial justice, the robin hood tax is what mlk fought herman cain is with us now. first of all i want to deal with this tax, but the association with the assassination of mlk. what do you make of that? >> dishonors martin luther king junior. and here is why.
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dr. martin luther king jr. never preached class warfare. this robin hood tax is a class warfare tax. nothing to do with how much money we spend on the military, so i happen to think this dishonors it. addressing the right problem, and the right problem that they ought to be addressing is how do you get the graduation rate up for minorities in this country, more college graduates so they can be on wall street rather than attacking wall street? i happen to believe it dishonors dr. king because he did not stand for class warfare. stuart: how about the tax itself? is proposed it would take half a percent out of all financial transactions. that would actually be a money gusher for the government if it were actually imposed. they go so far as to say this
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would take care of high-frequency trading problem because every single time he ever made one of these high-frequency trades you would be paying a tax discouraging high-frequency trading. what do you make of that? >> i don't think it would. in terms of it being a gusher for the government, we don't need any more financial gushers the government. they need to learn how to spend the money they're already getting it. i think their claim about what to do, remember the federal government is the most inefficient, ineffective mechanism for re-funneling dollars into the communities, business community and individuals that we have, so i just think this is another way to pad the account the federal government. we don't need to do this. stuart: we had this statement that the market is rigged and it
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immediately is followed by this kind of tax. it seems that statement almost set up this kind of tax call by the representative. have you ever interviewed congressman ellison on your radio show? >> i have not, i've invited many democrats to my show. strangely they just won't accept. one of my callers nailed it. one of my callers said you know why they won't come on your show. you may ask the tough questions, they don't want to answer the questions. here is the thing, they will figure out ways to make money off of the stock market and anything else. if we have a loophole in the way things work, let's not use that as an excuse to come up with a useless tax on the traders were
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anything like that. if that is a problem, not come up with another tax to begin to use more of our dollars. >> and tell charles not to use the crash word again. charles: you got it. hard landing are. stuart: things are getting out of hand today, aren't they? thank you indeed. enjoyed being with you. the real have to report is next and more on the robin hood tax. the business world responds to it, and the reality of today's job report. >> lisa, if you don't like your job you don't strike me go in every day and do it really
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half-assed. that's the american way. [ male announr ] how can power consumption in china, 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. with investment informion, risks, fees and expenses why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced
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startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com >> let's take a look at first solar. shares from 63 to $87 in the
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report this morning first solar shares are up 1.5%. mcdonald's has closed three restaurants in crimea due to operational reasons. shares are flat. let's check google. they bought nest for $3.2 billion in january, now turns out there having big troubles with a smart smoke alarm he had people i intentionally can turn the fire alarm function be at shares of google down 3%. down 5.5%. that is intuitive surgical. the real halftime report is next.
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stuart: here we go, friday the real halftime report joining from chicago, from the exchange. nicole petallides market watcher. charles payne, lauren simonetti right here. start with the stock, austin, the man who started the book on obama nymex. i don't know why you are smiling. i said the jobs number was disappointing. you say? >> it is a modest improvement over what we have seen from the weather. but no great shakes. i think it has been modest uptake in the growth that no
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real dent to me the job market get better at a rapid pace. stuart: your take on jobs. >> they deliver it like a big bowl of cold oatmeal. it is not enticing. the 10-year bonds told us right away it wasn't good enough, now stocks have finally fallen. stuart: what did you say? charles: flaccid, disappointing. i would say despite the administration trying to make this thing work out. stuart: what do you say? >> i am with my buddy, austin. i don't think it is a terrible number. we still have a problem with structural high employment. stuart: the dow turned lower. a lot of hot stocks. do you have some reason to worry?
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>> some momentum stocks coming down. maybe negative people take the opportunity to bail out of the market. i think you're going to see that starting in the next quarter. i own some stocks because of that. you will see those numbers postponed. >> i chatted, said the market exploded up. i said we hit record highs. without short covering? he said none of the above. it hit the records, pulls back. that is ways in the change the volatility index. now we are closer the bottom. >> i would like the s&p to close above that. that has been a psychological barrier.
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that is big, but a lot of to see them 1880. stuart: in the middle of a free-speech fight over negative reviews posted on its site. where are they now? >> down nearly 5%. free-speech versus fairness. jones a carpet company and somebody went on a website and say don't go with joe, video care carpet cleaning. they are killing his small business. it is not fair. you on these businesses and you get poor reviews, it is hurtful. stuart: that is a rotten looking chart businesses clearly under attack but you still like that stock? >> the reason why joe is still worried, for every start a small
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business gets, your business goes up almost 9%. 78% not write about a negative review. it is such a juggernaut, management is so stupid, they have to come out immediately and fix this thing and save the company. stuart: charles payne, relax. talking about the robin hood tax. he wants a half a percent tax on all financial transactions. what do you think? >> this came up when i was in the administration, people say they want a financial transaction tax. usually when people propose that, the problem of the financial system in which there are many are not rooted in the number of transactions taking place. i think you could do some significant damage and drive
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things off exchanges into the shadows if you were not careful. stuart: what do you think any tax of any kind? >> i am not for it just for the sake of raising taxes. i do think we need to invest in the education system and the infrastructure in the country, i feel our opposition for all forms of revenue would prevent that, but i am not for just the sake of doing it. stuart: what do you say? >> a symptom of the environment we are in. it isn't because wall street or the financial system or volumes, it is because the government policy and the fed policy, that is the real issue here. why is the automatic solution tax? why can't we fix those two things to help the income inequality gap them closer together?
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>> leave wall street alone. stuart: world wrestling stock up 200%. more big news on the streaming networks coming, is that right? >> the numbers will come out monday. i do on the stock for full disclosure. 75,000 people in the new orleans super bowl. it will be a huge event, hulk hogan is coming back, this is really a landmark event. you will see the first numbers come out, as transformational as anything i have seen in media in the last 10 years. the public statement is these things are according to budget. it will be interesting to see these numbers. stuart: thank you one and all.
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we appreciate it. up next, our outrage segment of the week, what got you more riled up? daniel murphy taking paternity leave, harry reid, the robin hood tax, which one? but first, this. alex trebek definitely not to use this. >> was that a low blow? ♪ [ 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 from td ameritrade. ♪ from td ameritrade.
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why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com
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stuart: one of those times we ask charles payne. you asked him on twitter about groupon. go. charles: they stteted et thr act together. the numbers have come down and now it is a very precarious point on the chart. you can hold for at least a year, but no reason to force the issue. if it doesn't close below 780, it could be very vulnerable. stuart: disaster? charles: short term it could be. another 10 to 15% on the downside. stuart: harry reid calling sick people liars. daniel murphy on people for
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taking maternity leave. and representative issues in the robin hood tax. which story outrages you the most? >> dan murphy. the timing is not ideal. it is his first child, he is 29. timing is not perfect, i'm going to the game tonight. stuart: said his wife should have had a c-section. so he would not miss opening day. if you listen the new york sports broadcast, they are all over this, they think murphy should have played as opposed to being with his wife for the birth of his child. what are you going to use for this one? stuart: outrages.
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these sports commentators. people who live in their own bubble, they have come crazy with this thing. stuart: i don't think anybody should miss the birth of their first child. charles: it is not's. >> any child. >> i hope you get extra days off. >> i was there, i missed two. one of my children was born while i was making a speech in west virginia. i roared back. all right, everybody. the highlight reel is next.
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why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business.
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new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com
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real. rolaids please legionnaires and last week late friday afternoon and i see a guy with an ipad. charles: inside information is microsoft designing a brand new ship and announcing it tomorrow morning. that is information. stuart varney saying on will buy thousand dollars of microsoft is an individual trade, two different things. stuart: you have a pandora account? but nobody pays for it so they have to listen to the ads. but sandra is for it because she is rich. >> not that much money by the way. stuart: you don't even know? i may not have given our staff at $1,000 bonus but i did give them -- i was there at a large christmas dinner. am i cheap? charles: i looked at merriam-webster. i always buy the cheapest brand of cereal, he wears a cheap watch. the gas station is cheaper, by
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those definitions yes, you are cheap. stuart: my production staff has been nagging me about that bonus and you the viewers are not helping. listen to what ruth wrote on our face book page. shame on you for not giving your people a christmas bonus along with their meal. sounds like the boss on national lampoons christmas vacation. don't they go above and beyond for you and the show? yes, they do. yes was in my ear. will you contribute half? charles: i will contribute some because you have an amazing team. >> we wear a watch that makes you cheap. stuart: a $50,000 watch, six of them. we are out of time fortunately. you are also oak. here is dierdre bolton.
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dierdre: welcome to risk and reward. thank you for joining me. we give you more ways to invest your money beyond stocks and bonds, focus on real estate, hedge fund strategies, new tech venture capital and even art. our top story, bitcoin's biggest backers getting swept up in legal probes of virtual currency reeling from a string of currencies. the best banking lawyer in america, regulation expert iconic counselor roscoe and will talk about the unregulated currency. we will give you more ways to make money and better ways to keep it. other headlines. tracking at this hour it is jobs a, a bureau of labor statistics reporting 3 million jobs go unfilled every month in the u.s.. analysts say there's a tech skills

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