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tv   Varney Company  FOX Business  May 22, 2014 11:00am-1:01pm EDT

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is rachel robinson, jackie robinson, she said the movie 42 is exactly accurate. maria: i do want to see it. sandra: you have got to see it, jackie robinson, what a great man he was. maria: markets of 23 points. that will do it on the opening bell. time for "varney and company". stuart: good morning, everyone. bad news for the irs rules on and on. now we find it is unionized officials have cost us a fortune just at the tax guys demand the $1 billion budget hike. a million-dollar reward for anyone who puts an irs agent in prison. how do you feel about that? headlines, housing, retreats, would you believe ragout is worth $2 billion. billionaire climate change crusader opens a new political
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machine, boots on the ground in key races and the insurance industry bthe establishment med us. "varney and company" is about to begin. we watch retail very closely on this show especially brick and mortar, some of them in decline, some of them not. first office years, down to nearly 3%, big discounts not helping sales. higher profits but more customers at dollar to 3. a bit dozy%. a big beat for best buy and that stock is up 5% so it is a mixed bag for retailer, brick and mortar this morning. check the big board this thursday morning, we're 26 points, 16559. we are waiting for a chinese retailer called j.d..com going
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public today, hasn't started trading, you will know when it does. you see that sign? the treasury department reveals the irs workers spent more than 500,000 hours on union activities last year. that cost taxpayers $23.5 million. that cost taxpayers $23.5 million. monica crowley is here. you call the irs scandal, let me get the quote right, the worst scandal in u.s. history. >> the most dangerous scandal in u.s. history. stuart: this is different, this is separate. this is a scandal about union activities paid for within the irs by the taxpayer. unleash your venom. >> we know the irs has had problems for a while and we know about the targeting scandal of conservative groups and we also we kow there are many people a high echelons within the irs who have gotten bonuses repeatedly even though the targeting scandal has gone on and in addition to that many of them don't pay their own taxes.
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we we kow that as well so we h the union agitating for more money when this country is deeply in debt and this most fearsome agency of the u.s. government is under multiple investigation. stuart: 500,000 hours spent on union activities, not doing irs work, not collecting taxes or auditing people thank heavens, working at union stuff. >> agitating for more money. stuart: $2 billion. so they can police obamacare. i am getting a little frustrated. >> the irs is the enforcer of obamacare, written into the law that way. this is not the only agency with this problem. this is the problem with big government anyway. any bureaucra ag has this union activity going on. we are singling out the irs because it is under mur mmulle investigation. if you look at every bureaucracy and every department of the federal govergovent you will fid
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almost the sakes same proportion of union workers is work for the american taxpayer. stuart: viewers are exasperated. charles: is this protected by the constitution or something? stuart: the union contract protect this. stuart: charles: every contract comes up for renewal. this is our rages. add this to all the other things all these guys waste money on and it is amazing. i just can't see -- stuart: do you think president obama will deny within the treasury department which runs the irs do you think he will deny them anythinitu they have gone to bat for him in the last election. charles: this symbiotic relationshmul shifted so badly n favor of the unions, the tail wagging the dog if you will that we all pay a heavy price. stuart: this is to you, catherine anglebrecht announcing last night on fox news that her group is offering
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$1 million bounty for any information leading to the conviction of top irs officials. that started trading, what you see on your left, j.d..com, a big chinese online retailer,e m1 a share up 15% from the initial offering price. back to this bounty. i am not sure i like the idea of a bounty, put them in chains and we will give youe m1 million. charles: maybe can' here is th problem. it has come to this. it really has. we had the attorney general say that he was going to convict wall street's hamsters, people on wall street who created, committed a crime so that we come up with this credit deniss bills this week and they plead guilty to crimes, criminal activity and no one goes to jail. at some point citizens has to
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take up arms. not literally arms. stuart: about a bounty? us> this president when he running in 2008, he said this repeatedly, we will protect whistle-blowers, we want the most transparent and accountable federal government in history and we know that is a gross and grotesque joke at this point but when you look at these scandals, irs, bengha gu, fast and furiou, obamacare, we cannot get those documents out of this administration. it takes outside groups like judicial watch on benghazi, the irs, to act is wlly move these documents out of the possel gio of the administration into the public's fear. we have seen a couple whiseateedlblillers on benghazi they are few and far between because this govergovent has moved them out in some cases out of the country so they couldn't talk and in this case we have the va whiseateedlblillers so there's some there, in the irs can't we have yet to see any so while we want to say this is sad
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and as charles points down the we have come to this p onent in many ways this is the ohat wy w we will be able to get the truth. a little financial incentive may provoke pudple to come out of the work -- out of the woodwork with the trutbe stuart: let's get back to being financial. we saw j.d. is trading, they went public today first time and they are a 1 couple minutes worth of trading. tell us about williams sonoma. weon yoke about pudple buying spatulas that cost $40 each at williams sonoma. they are d oneng well. >> they bought one for each of them. we are seeing the profit here on the rise for willwork ms sonoma 8.1% and the analysts jumping on board raising their targeee o willwork ms sonoma saw th wor profits on a rise, earnings were 17%, they saw growth in home construction and because of the economic recovery people basically out there, tough winter weather and pudple started building homes and needed all the products from williams sonoma but one thing,
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this is record all time high for williams sonoma. they do face competition from restoration hart ofare and othe but thlas are running up for those spatulas. stuart: a new hicial . charle. s all the criticism from democrats that the record money, we see almost every day, ta wftny's, willwork ms sonoma, nordstrom last week, the richer spending money. there's a da wference be areeen being in a recession right now and not being in a recession. stuart: tax then some more can charle. s that is the argument for taking money illegally through higher taxes. -tuart: i will give you aon yo nsiober that comes out every thursday morning at 8:30 eastern time. 326,000 pudple to lend the unemployment benefit line, basically that is the layoff rate. from washington we areon y oneny paul conway, labor department chief of staff. that nsiober is up but over the long term the layoff rate is clearly moving down. what does that tell you?
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us> it is t.a.r.p. year lil. if you look at that number the other important nsiober within that makes is a four week rolling average and it shows it is up 3%. what it is telling us is less people ar,lying for benrits but what is interesting is the study that came out by harris research -hows 30% of those who are eligible to apply for unemployment insurance are not appl teng for it. -tuart: what about that poll? it is available. they don't want it, why not? ussua couple da wferent thi st. sometimes people are optimistic about the fact they can get a w tb with in six months. there's a huge strain of thought in america's and they don't want to be dependent e iart from wha the messages from washington, unless they needed or are not interested in it. the interesting thing that is in this study, 20% of those who are unemployed long-term are receiving a benefihow i think when you look at these numbers you have a sense of hil much is in fluinand how mthe pr things can be on the edge in
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terms of what economy dipping into another recession. -tuart: hill does that square with the next number? 47% of the unemployed have witompletely gand nen u. welooking for work. that was a separate study, not harass, from someplace else. what do you m ite of that? 47% totally given up. >> it is an alarming nsiober i a hillie amount of intellectual capital and human capital sitting on the sidelines that nas gand nen up on the inevitability of- i think that number ought to be center most in pthoicend iters minds. what do we do to get out of the way of job creators. -mall-business, large companie, that arlywhoer is a frightening number for any policymaker weather in the state ce iital o in washington. stuart: part of the malaise if you ask me. i hate to use that word but it ilef s remind me off the late 70s. thank you very much, global headlines this morning. none of them are good. a coup in thailand.
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they declared martial lris coupe ilays ableo, didn't prime minister and the army has taken full contrtho. taisay they announced they oustd the government. the constitution suspended, a curfew imposed, military cracking dilln on protesters. that is thailand today. china, terrorists set oif bowho, muslim beaters are suspected. authority said dozens of people killed in the attacks, many more were inazred. linteya, nigeritho. syria, ukra shots fired by the north korean navy taisay, global stability, what stability? where is president obama when that is going on over there and the scandal at home? ne is in cooperstown, the baseball hall of fame promoting touri sp. then he gef s to chicago for tw fund-raisers. unleash your fan again. titu this call to mind what he . than after the benghazi attack september 12, 2012, he took off ä0 or las vegas and went to a
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ä0 un is raiser. he is the fund-raiser in chief. stuart: he is disengableed. the house saying both to the nospital, mr. presiden. go get your feet dirty, see what is he ipening on the ground. ne has gone to chicago >> those are very serious crises lizzie d. thann't mention russia or the nigerian girls k. thannapped by the islamist group. a very full plate and you can, pres. thanent's prioritpends by hill e spends his time. what this president continues to ,rioriter ing ondheraising. he seems almost bored by the real things that matter in the w tb bec7%se for h gl what matt is fund-raising and getting democrats elected and protecting his legaion which according to that list is seriously falling apart. stuart: he has been bored all the t gle. that is pretty venomous. thank you very much. we were the first to bring you
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the story on "varnlas and company" about obamacare's backdoor bailouts for those indenrers. it will cost you a lot of money, the taxpayer, billions of dollars. we will deal with that but first this. fed chair janet yellen delivering the keynote addrel g int few york's commencement cemetery -- ceremony. this is what $60,000 a year for college- titu i guel g i amt fot -- i do know. >> do you think janet yellen was a g 4d choice to >eak taisay? titu how much do you know about her? hi, are we still on for tomorrow?
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tomorrow. quick look at the weather. nice day, beautiful tomorrow. tomorrow is full of promise. we can come back tomorrrow. and we promise to keep it that way. driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel. what a day. can't wait til tomorrow.
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stuart: it to back a deal in the works, reportedly and advanced merger talks, a big player in the u.s. cigarette market, both stocks are down. if you are curious, we ask you to tweet us using hash tag ask charles payne, you do a lot and you asked about tea came.
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charles: t k l in g, third largest independent carrier of liquefied natural gas. go to the web site, to the investor relations part. you rarely see this where a company says why should you invest in us? promoting yourself. most guys don't want to walk out on that limb. famous last quarter on. i got to tell you i will go with the company would favor saying, longer contracts, a master limited partnerships so they throw of a whole lot of cash, a big deal, demand of 50% between now and 2013, that yield is around 8%. stuart: bcu by a for $47, $42 a share and they pay you a present? charles: about five years ago lot of wealthy people started loading up on master of the it is partnerships. they call this the golden age of gas and they're working and data
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things, floating storage, if you are in the stock hold onto even though it had this blitz. execution not really a problem but they did in that last quarter. stuart: if the payment is secure i see no reason why holding it for the long term ignoring ups and turns. charles: to your deck at the end of the day you get a win/win because stock price will go up too. stuart: i am glad our viewer asked or whoever you are. got to move on, look at the health insurance stocks. we were the first to bring you the bombshell headline on obamacare. the administration quietly adjusting provisions of the law, the white house wants insurance companies to keep premiums down before the election so the taxpayer is going to bail them out, give them a whole ton of money so insurance companies don't lose money and don't raise premiums before the election. that is a bailout. we are joined by town hall magazine managing editor,
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harold. i'm taking credit for store you broke, you got this, didn't you? >> that is not quite true. i saw it from my colleague at the washington examiner who flagged down a bunch of health and human services regulations but i have been trying to issue on your show.bringing up stuart: there was a document friday afternoon, hundreds of pages of rules and regulations from obamacare. somebody went through it, your colleague went through it and found the administration opened the door to putting taxpayer money into the hands of the insurance companies. that is accurate? the bailout is in training so to speak? >> it is signaling to the insurance companies they will be bailed out. this is a final regulation hhs has. the previous one would be operated in a revenue neutral way meaning they would only give insurance companies as much money as was coming in. in this final regulations they
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said we are not going to operate this in a revenue neutral manner. if there's not enough money from insurance companies will have taxpayers make up the difference. that is why it is a bailout. stuart: there's not enough money coming and because too few young people are signing up, too many older sicker people are paying out a lot, not bringing up much and taxpayer is going to make a difference. i am trying to cut through the clutter without getting on a tangent. it is a bailout. >> it is a bailout but we don't know whether they are paying more in yet. these payments are not going to happen until june of next year. however the republicans's chance to stop this bailout before it happens is going to be this september when the appropriations bill comes up. that is the only chance republicans have to stop the problem of homeland security doing this. stuart: congress has to pass judgment and say yes, you can have that money or no, you can't.
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congress will decide that. >> there has to be specific appropriation from congress and obamacare created this program, it never created a separate appropriation for the department of health and human services to spend this money so that is why it is an illegal bailout. there is no appropriation authority for hhs to give insurance companies this money. stuart: that action congress takes place in september of this year. six or seven weeks before the election. >> only if republicans make the issue. they have to stand up and say we won't fund the h h as unless you promise to end this bailout. stuart: surely they will. you can make political hay out of battled long. surely they will. >> that is why i am trying to get it on the radar of republicans in congress. the senate budget committee already knows about this, they are outlining that it is illegal
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but we need more republicans on this issue stopping this bailout. stuart: what do you think will happen? give us your best forecast. >> my best forecasters obama goes ahead, ignores republicans and we have possibly a mini shutdown in september. stuart: really? and many shutdown. that would be a mini shutdown of hhs, not a broad government shutdown, just that department. >> targeted shutdown of h h s. stuart: a huge gamble for the president to take. >> he has to keep in assurance premiums low and judge which headline is worth, rising health-insurance premiums or bailing out insurance companies. stuart: exactly right. this or this, neither of them very good. excellent stuff. thanks for your great reporting, come again and tell us how things are going. >> happy to come back. stuart: another nfl losses this time former players say teams forced them to take painkillers. you the viewer is not too
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impressed with those claims. we will bring you your reaction from face book and twitter in a moment.
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>> no professional athlete out there who hasn't taken a pain killer so he can get back on the field. doesn't happen. these guys are banged around, training constantly, they live in pain and all of want to be on the field. the question is and the question they are raising is what information did they have about the repercussions of taking that medication. stuart: that was part of our discussion on a new lawsuit filed by nfl players accusing the legal encouragingly painkiller use. we have a lot of passionate response from use of your on this subject. a couple comments, randy first of all. all of a sudden current and former players see a cash cow and they will get as much as they can. next it will be they had to practice too long for too many days. gail had this to say. no one can force medication on
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any adult. you took it because you wanted the money, you got to play. you made a choice, deal with it. todd tweets this. whatever happened to personal accountability? can't handle it? don't play the game. just a day after this lawsuit was announced legendary hall of fame coach john madden is saying it is not just players who are subject to the painkiller culture but broadcast announcers as well. he says one broadcaster, and acts football player who would go to the trading room and get shot before he went on the air. we are telling this story and we will update you as the lawsuit progresses. big gains for charles payne's picks. investors like what they see from 3d systems and the trade show in new york and that it goes, 5%. they make bulbs, light bulbs, they make l e ds, some takeover talk, that stock is close to 5%.
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then we have this. baseball sized hail, multiple tornadoes in the denver area yesterday. there were warnings for thousands, take cover. cars, homes damaged, planes in the denver airport grounded. once the hill past, cities were subject to large amounts of flooding. is this climate change? they actually have snowplows clearing the hayloft erode. tea party groups offering the $1 million bounty for convictions linked to the irs targeting scandal. put them in jail, get a million bucks. they say this is the people's down the to seek truth. is it a publicity stunt or something more than that? all rise, the judge passes judgment next. i'm m-a-r-y and i have copd.
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making a big deal about the headlines that it was up to read who cares. it was fragile and with 1.3% and 6.8% year-over-year. stuart: that says to me that realtors are not enjoying at the boom, but they are not enjoying the expansion, the good times for which they were expecting one year ago. >> you have interest rates spiking a year ago and i think the thinking was for the spring selling season especially for april was that these numbers would pick back up and it was disappointing to see. there's one other issue i think is happening here, prices if you look at the national media prices now it's up more than pratt-- 5% year-over-year, so you have existing home sales down, which is 85% of the market. prices have jumped up, that's the problem. stuart: and you have mortgage rates about 100 basis points, one point higher than they were a year ago.
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>> you are correct. we are sitting over 4% right now. stuart: do you happen to know what is that median price? >> $201,000, that's at the national median price, but that is higher from last your. this number we got today is the first rise we have seen for 2014, but again it's a month over month and you can't always believe these headlines you are seeing. you can't say it's great news for the housing market because it's not. i also another report this morning that said first-time homebuyer traffic is up a bit, so it's a small positive and existing homes -- home owners of the traffic is picking up a little bit. is fractional. stuart: grasping at straws. >> it is. property sales have been 14% in nevada and arizona are still distressed properties, so if you are still looking for those foreclosures as investor those are your states, arizona and nevada.
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stuart: you through that in at the end because you know i just sold a piece of property. monica: what i actually rub it in face of stuart varney? stuart: what a great show we have here. charles payne is with us still, he hangs around and he says if we put money into a company called targa resources we will make money. charles: you are going to like this. they play a $3.5 dividend. stuart: what price of the stock? charles: about a four and a half% yield. not bad at all. another energy play. they have over $2 billion right now in projects and they are getting ready-- stuart: natural gas? charles: mostly. they are building up to ship out exports to read everyone is building up to read it's
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an extra ordinary company. it's a solid company and it's the environment where people want to have some dividend safety, but also some upside potential i think this is ideal. stuart: i thought shares in premium base in 30 years ago and then they started to run out of oil and now they have a new drilling process and they are pumping more than ever. do you know we just reached a record oil production in america? 8.4million barrels a day. i'm going to throw that in. charles: i'm glad you did. i needed to be bolstered. stuart: all right, catherine engelbrecht, frequent guest on this program is a victim of the irs target scandal and she is offering $1 million to read it's a bounty for the conviction-- a conviction linked to the irs targeting scandal. she made the announcement last night. listen. >> the irs bounty is just that, the people's bounty for the truth. put together by a group called the voters trust. it is an opportunity for citizens to come forward and speak to the truth.
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if they have information that will reveal what is really happening inside the halls of the irs, this is a way to incentivize that truth to come forward. stuart: all right, i'll rise judge andrew napolitano is here. if you have information, which will open up what's been going on in the irs you get a million dollars. >> this is not to convict an employee. this is to induce someone on a taxpayer or employee to expose what has been happening in the irs with respect to discrimination against people using the mechanism of the irs based upon their political views because of the perception that the president hates the supreme court decision that allows conservatives to spend money with it went. stuart: it seems like a bounty to read it seems a little unseemly. >> surely you know the origin of bounties?
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it was ancestors when the kings and queens couldn't find someone they put out a bounty and suddenly those people were brought to justice. stuart: do you approve of this bounty? >> the law offers of it and whether i approve it or not is irrelevant, but the law permits bounties. the law permits a government to offer a bounty in a private entity to read a true bounty would have to be articulated with more precision than the lady did on that megyn kelly show last night and presumably they will. she would have to say we deposited a million dollars in such and such a bank account and here at the circumstances in which week instructed the bankers to really set. comply with these terms and you get the million dollars. stuart: it seems like almost desperation be good-- because we can't get the truth with the investigation that's been going on for a long time, subpoenas, contempt of congress and we are not that much closer to
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the truth. >> i thank you know i have a different view of the congressional investigation in the mainstream view. i don't think they are serious about it. if they were serious about getting information from lois lerner they would immunize her against her will that she has no fifth amendment right and then she speaks. stuart: do you think the republicans know that maybe lois lerner has not broken the law? >> i think-- i think they may know from what her attorney probably told their lawyers off the record that she does not possess a smoking gun. if she does and they have declined it to immunize thin they're not serious about this. why would the republicans not be serious about this? because they want to be able to use the irs when they can. stuart: that's a conspiracy. >> look at what richard nixon did. both sides do it. stuart: you know as well as i do the irs turned richard nixon down. he wanted to it investigate those people . >> that was after hundreds
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and hundreds of politically motivated audits. so, the congress likes the wiggle room in the irs statute. they just like it to be used by their person in the white house. charles: a whole lot of this nonsense goes on and we wonder why isn't congress taking a stand, but maybe it's because they are trying to preserve it so they can have the power one day. >> do you want to know why president obama can transfer funds from one account in the department of health and human services to reduce the cost of premiums for obamacare? because the republican congress gave george w. bush that authority 10 years ago. stuart: the libertarian party would never ever do such a thing . >> i don't know anything about a national libertarian party, but in my world and in the world of most libertarians there would be no obamacare and thanks be
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to god there would be no irs and that would make you happy. stuart: i'm for a well organized functioning society. >> you want the welfare worker state? is that like the first lesson you learned at the london school of economics? one hundred times on the blackboard taxation if necessary. [laughter] we need cash. [laughter] stuart: i'm saying nothing. thank you, judge. >> have a great holiday weekend. stuart: i will trade protesters demanding a higher minimum wage close down a binning of mcdonald's headquarters and they are at it again today. we have that for you in a minute. we're moving our company to new york state.
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monica: the new york post reports to the chairman and ceo bob eiger is in the running to be major league baseball's new commissioner. sources claim he's the favorite of the committee, however a potential problem in appointing him is that his contract with disney runs until the middle 2016 and right now the panel is working to find a replacement before he steps down at the end of his contract in january. sources say reynolds and lorillard are in advanced talks to combine in a deal that would create a powerful rival to industry leader altering a, the potential
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takeover would combine reynolds cigarette brand such as camel with the new type telling menthol cigarette and chinese jd.com. began trading on the nasdaq today. we had to that floor coming up next. [ female announcer ] who are we? we are thinkers. the job jugglers. the up all-nhts. and the ones who turn ideas into action. we've made our passions our life's work. we strive for the moments where we can s, "i did it!" ♪ we are entrepreneurs who started it all... with a signature. legalzoom has helped start over 1 million businesses, turning dreamers into business owners. and we're here to help start yours. turning dreamers into business owners. if ...hey breathing's hard... know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment
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stuart: here's the latest chinese ipo three local, tell us about jd.com. reporter: this is a large play on the e-commerce in china. we are watching the stock jd.com. to read it's up 11% at the moment and priced at $19 and currently trading at $21. the high today, $22.80 and it's really has an appetite for this stock. we see it soaring in its us debut. stuart: and this is a prelude to alibaba i guess. reporter: i think people investing in alibaba hope so. stuart: but, the market like that, up 10%. mcdonald's workers are holding protest outside the corporate headquarters in illinois. it's part of the push for the national minimum wage. they won it raised to $15 an hour. what's behind all this? charles: in my mind it's not an authentic protester at how those people are not mcdonald's workers, they are professional agitators and it's this whole us versus the corporate world.
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what i think is amazing though, stuart, two years ago when mcdonald's had the hiring day, one day they said we will hire 50000 people? stuart: yes, they did. charles: 1 million people showed up for those jobs. 1million people showed up and they ended up hiring 62000
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boarded up buildings there were right off of rodeo it's a left her right and i don't see the traffic congestion they're talking about, but $2 billion? stuart: it's our money. >> it's federal money. stuart: people of kansas, kentucky, obama. >> i thought la was doing so great.
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stuart: they are all democrats, come on charles. charles: this is ridiculous. stuart: yes, it is ridiculous. charles: now they want to extend it so if you aren't wilshire boulevard you can go to the beach after you do shopping. stuart: i just worry about earthquakes. do you know what, i mean? [laughter] we digress. pasta sauce i'm a ragu, would you believe it's worth -- ragu the brand worth $2 billion? someone thinks it is because that is what someone is playing. we will explain next. ♪ ♪ ♪ ♪
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france. tracy byrnes is here. what do you have against ragu? tracy: these are all basic rules that all i tell you and no. this is like entry-level i tell you. $1.99 for a jar at the store. it is the best-selling sauce in america. stuart: if i say it is ethnic food, you approach other ethnicities by making it attractive taste wise for a very broad audience.
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>> it means meat sauce. ragu means meat sauce. it is a condiment. let's sell it like it is. it is a condiment. stuart: espresso after dinner, it will keep you up all night. you have a long way to go. [laughter] new at noon. let's get out of this. did brother alive and well. a fresh report on what facebook knows about you and how they find it out. the billionaire climate crusader who is arming the democrats with tons of money in november. a fresh power of barley and company. we will be back in two minutes with that. ♪
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speak to it seems like it is a big news day. the markets not doing much. we will start with domestic scandal and foreign turmoil. drama over there and scandal over here. where is the president today? dan henninger passes judgment on not. social media. they really are watching everything you do. they are making serious money. we will have a report on that. a louisiana republican will respond to this climate change brought to the streets. i do not think you liked government all the time. stossel is here. i will tell it straight. the media elites will always let you down. ♪
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♪ stuart: this is an extremely white trading sets session. we are only up 17 points. that is very low volume. moving up just a little bit. 2.54%. that is still historically very well. two individual stocks and how they are performing. look at sears. they are offering big discounts. williams-sonoma, apparently where the rich get their kitchen stocked. the stock making a new high. the chinese ip owing today. up and running with a 10% gain. this makes things look pretty good for aly baba. elsewhere, turmoil. all around the world.
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thailand. seizing control of the government. it is a coupe. this is thailand. martial law declared. this is thailand. china. a series of bombs killing dozens, injuring more. where is the president? during all of this unrest over there and scandal here at home. he is touring the baseball hall of fame committee goes to chicago for two fundraisers. dan henninger, it used to be a prominent critic of the obama administration. what on earth is the president doing? what is he doing?
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>> your tax dollars at work. stuart: i cannot believe that that looks politically good. >> well, what you just described really does not look politically good. world on fire from asia to the middle east. he is trying to change the subject. the subject potentially will damage his legacy. 38%. the lowest in his presidency. meanwhile, the democrats are facing a possible historic defeat at the polls this fall. greg walden thinks they will get 245 seats. if they make it bigger than that, the majority could be the biggest sins of the 1920s. this is a horrible legacy for the president. he is out there raising money to try to reduce that money. he had a big fundraiser in d.c. on monday.
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he is worried that this will kill him. stuart: we have a democrat yesterday saying, mr. president, you have to go to those virginia hospitals. you have to get your feet on the ground. he is not listening to that. to protect his legacy, that will not work. america is pretty consumed at what is happening at the va hospitals. it is concerned about what is happening with benghazi and the irs. >> whether it is benghazi or the middle east or the veterans administration, the president always does the same thing. he says he is outraged by it and he has people working on it and we will "get people working on it." there are people in congress getting extremely nervous about the president.
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distancing himself from every piece of bad news. in our day and age, it is and possible. there is a time where these things will go in and out of the news. they are in front of people's face all the time. you cannot hide from it. stuart: it is snowballing. it is one thing after another. they are all essentially negatives. >> as a very serious matter, stuart, these are the consequences of the president's own ideology. leading from behind. the idea that the u.s. would not always be out front trying to solve the worlds problems. we would stand back. by standing back, the world is spinning out of control. there is just no u.s. engagement and the american people are watching this and they are getting very nervous. stuart: can you go back to the
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analyst that says it will be a landslide election. >> greg walden. stuart: he is on one side of the fence here. the numbers are looking better and better for the republicans. the president himself has said he thought the adjuster on his last election in 2012. he knows he has another one in front of him. i do not think any president would accept this. i think he is getting desperate now. stuart: all right. dan henninger. thank you very much. back to the markets. best buy. what is the story? nicole: it had been the loser at one point as well. it has been a mixed bag. the electronic retailer is up 2.2%. 25.91.
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some good profit numbers. the bad part is what the ceo and company are saying overall about the chief financial officer. the industry, there seems to be some competition, obviously, also some concern about rising growth, also fuel costs that have been on the rise. we will see. the other thing, remember how we talked about the iphone. the latest iphone. they had been seeing people just waiting on new models for smartphones and just buying them now. stuart: that helps. thank you. please look at america's oil production. 8.4 billion barrels a day. highest, i believe, since the mid- 1970s. we cannot refine all about oil. we want to export it. we are going to export it, i am pretty sure about that. 8.4 million barrels of oil a day. i would say that is flat out good news. >> it absolutely is, stuart.
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we would naturally assume that global supplies of oil would be working their way up. that is not happening. look at the current prices. caring a huge premium. that suggests tight supplies. and users saying give me the accrued now. i am worried about what prices will be in the future. i am still very bullish to crude. stuart: we have unrest and just a bullet he. we have oil production going down in venezuela. they're not doing as well as we are introducing our own oil. >> it is absolutely part of the story story.
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i want to make one quick comment about this deal and russia and china. this is what people need to be paying attention to. when the ukrainian flag comes down in ukraine because russia takes it over, the ukrainian people have one person to blame and it is our president. vladimir putin has invaded a sovereign nation and he has what kosher mark another gas contract out of it. this is shameful. we should be doing something about it, stuart. stuart: you are referring to the 30 year gas supply contract that putin has signed with china. that is what you are referring to. that is a very big deal. it is a victory for china, for putin and it defeats america. we have facebook unveiling a new
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audio record mission featured to its app. the tv shows you watch. we have a technology report. it seems to me this is kind of big brother. i am watching you and everything you do. >> i think this feature in particular -- i think this is facebook playing catch-up. in particular here to twitter. facebook is playing catch-up in that respect. stuart: if i go on twitter and say i am watching ex-wife in the, i am making it public on what i am watching.
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>> facebook has been feeding us out for quite some time. stuart: do you see a pushback? i do not like this. i am uncomfortable with this. >> we are starting to see some of it. they are taking breaks. stuart: it is a drug. >> it is a drug. it is totally addicting. they rolled out this feature that is giving people more control over their privacy. microsoft has this dinosaur that helps you fix your privacy settings. stuart: okay. not there yet.
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>> they are slowly taking some steps. most of us who use facebook should realize that we do not pay facebook. we pay them with our personal information. stuart: the stock is doing well. investors like this. >> the stock is moving on our personal information. that is great. stuart: making a ton of money out of it. last one. google. they will put ads on your thermostat. >> there are rumors about that. i do not know if we should believe that yet. that thermostat is actually being were called right now. more technology in the home. more of these connected devices. are we going to see the same sort of advertising their? stuart: guarantee it.
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>> i think it will be interesting. there'll be some clever ways at that. google is at a place to do that. if you go on your commute every day at the same time, i wake up every morning that says there is traffic on my way to the studio. it is sort of a contextual computing thing. it is a little scary how but it can also feed me and add that there is a sale at starbucks on the way. smart watches obviously coming. maybe those ads show up there instead of on our phones. stuart: you love it, you hate it, you cannot get away from it. that is how they make money. joanna, please come back. that was good stuff. >> i would love to. stuart: thanks. john stossel. apparently, he is the good news
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guy. the sky is not falling. even in this presidency. he is next. ♪ when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence.
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it's one more part of our commitment to america.
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can you start tomorrow? yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves.
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♪ stuart: there is a protest outside of the mcdonald's headquarters in illinois. the demonstrators want $15 an hour. that is a minimum wage they are pushing for. garrett is ill illinois. he has more on this. >> they hope by pushing for that, they will be able to get closer to the $10 an hour president obama has asked congress for. protesters came from 33 u.s. cities and they came to fight for the hike in minimum wage as well as the right to unionize without retaliation. they are targeting mcdonald's because of its size and stature. it is the world's largest chain. they feel like they can get a much easier time getting everyone else.
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mcdonald's is struggling with staggering sales. yesterday, 139 protesters were arrested after crossing police lines. today, there were no arrests. stuart: and my take yesterday, i said that the malaise is coming back. it is because of statements like this. >> we are talking about the destruction of our society. >> oh, my goodness. things are bad. >> ocean depletion and other environmental problems have emerged. >> it always ends in mass death. stuart: i can hardly believe it. john stossel is here to say no, no, no. the sky is not falling. you have 30 seconds to make your case. >> 30 seconds? by and large, things get better.
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talking about the debt. i tend to get into the malaise. look, crime is down 40%. murder is down 40%. rape is down 80% over the past four years. stuart: over the past 40 years? >> 40 years. we are living longer. global poverty is down. millions of people have lifted themselves out of poverty. humans. does invent things like facebook. stuart: is it our fault? >> for yourselves. you talk about what is going wrong. people of my generation.
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stuart: you always look back to the past as if it was kind of rosie. every generation does that. >> the past was horrible for women, gays, women could not get a credit card without their husband. stuart: you are kidding. you maintained that actually things are a lot better. >> these are the good old days. stuart: really? >> that is my show tonight. stuart: this is unusual. you are essentially a libertarian. not happy with all government all the time present-day administration. >> i step aside and i look at the data in spite of these jerks. we prosper or so have so far. they could kill us off still. [laughter] stuart: good stuff, john beard
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that is original premise. >> an original idea i came up with. conscientious corporate entrepreneurial civil disobedience. these companies like air b&b. they are probably just breaking the law. getting so many customers. by the time the sleepy regulators will pick on them, they have enough to say you probably do not want to do this. stuart: i am kind of joking here. that revolutionized so many industries. open up so many opportunities for individual liberty and entrepreneurship. you are absolutely right on that. >> the permission less economy. we had to ask governments permission to create e-mail or facebook probably would not have been. stuart: great show, john. i am proud.
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john stossel, everyone. the show is tonight 9:00 o'clock eastern. the name of the show is "stossel." the good new days. thank you. and ozzy. the irs scandal. my take on all of the above. that is next. ♪ ♪
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going to call these lunch time movers. they are moving, target downgraded by jpmorgan, down to 2.5%, jacoby going the other way, we will call this a long time stock, a nice gain, $17 higher, 3.5%, not bad. liberal billionaire environmentalist tom say renouncing and $100 million tax on gop climate change the nighters. he will take it right to their
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doorsteps. plenty of luxury rentals available for summer on the day before memorial day weekend. cheryl casone has the deals that are out there if you have got the money. why isn't the media covering the news? because the news makes the president look bad and the media backs this president to the hills. that is my take on what is going on. case in point the bailout of health insurers. i checked the establishment media at this this morning and the story nowhere to be found. surely it is news when taxpayer billions will be used to prop up another part of the obamacare mess. isn't that is? same with the irs, this scandal ignored but that story was about a powerful government agency being used to influence the presidential deduction, surely deserve coverage. benghazi totally written off. move along, nothing to see here. was an example of the administration putting out a
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false statement about the death of an american ambassador right before a presidential election. that is news and the va scandal. if it wasn't for fox you never would have heard about it and the media still doesn't question the government's ability to handle health care. the media is not doing its job. has been derelict in its beauty. we are the worse for it. the only immediate fix, the elites to run the media have cooled to the left for generations. won't change any time soon. i do believe the bias is so obvious that voters will see it. how else do you explain the erosion of trust and the president's lighting approval ratings. capitato make it happen? that makes it real?
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the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation
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in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. stuart: facebook the most popular social network among marketers, even though more than half of all marketers don't think it is effective. that seems to me to be a contradiction but lauren will sort it out. >> almost all marketers are on facebook, 57% say it is not effective which means only 43% think it is. this from social media marketing, the company in the survey. what does this mean for facebook? they have to figure out a way to be more relevant for marketers.
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maybe that is why they are dropping the music and movies and buying in the background on their apps and why they are letting more questions, are you married, stuff like that on profiles. stuart: stock is up above $60 a share. you have another study on facebook sharing and loneliness. >> a study out of australia says eight in ten people who consider themselves lonely are more inclined to post more often. the more you are posting on facebook more status updates etc. the more lonely law. it makes sense because you are searching for someone to like what you posted or what have you. you know what i do between my head on your show? i usually post stuff because i am lonely. stuart: we got to reverse that. if you are lonely you share more, you communicate with more people so it is the wrong way around. >> if you are lonely you post
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more. stuart: then you are not lonely, you are communicating. facebook is the antidote for loneliness. i could read it that way and i think it is. i happen to use fiber with people all the time. i don't consider myself lonely but it is a way of communicating that keeps me in the loop. >> with facebook people feel pressured to lease a positive things and be cool and always be doing something just so you can share all that and brag to the world you are really cool so inside you are feeling that is forced. stuart: all i know is the stock is approaching, it is up, that is what everybody cares about. >> you are lonely, get that stock price up. stuart: there you go. thanks very much. more lunch time movers for you, always big names on this show. share price of tesla going 3% above $200 a share. netflix has come all the way from 300, approaching 400.
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it is down a little bit today but that stock has been moving over the past two weeks. it is the headline on obamacare not going away, a bailout for insurance companies, they are going to get it. the obama administration made adjustments to the law and taxpayers will top off the amount of money the insurance companies have. they are not bringing enough begin so the taxpayer will give it to them. incredible. let's head to capitol hill, steve, welcome to the program. i want to know are you in congress going to give the obama administration the money they can then give to the insurance companies, bail them out because obamacare is a failure? are you going to pony up that many of mine? >> absolutely not. it will be back with you. president obama for the last few years railing against every industry, a country that happens to make a profit, he railed against insurance companies and then tucked away in one of those
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little recklesss of obamacare is a provision that allows president obama to bailout insurance companies and he is trying to do that and not only am i not going to vote to give him that money but we don't have the money, the country's $600 billion in debt this year, $17 trillion in debt so what is the president going to do? borrow money from china? send the bill to our kids to bailout and insurance company? this is one of the big failures of obamacare where the white house is threatening trying to believe insurance companies to lowball prices because they are skyrocketing. stuart: another one for you about the billionaire environmentalist tom sayre plans a full fledged political campaign on machine operating in at least seven states to take his climate change message to the ground floor, boots on the ground, that is the key to democrats in the election, that is what he thinks. you are from louisiana. are you worried about this if he comes on your doorstep? >> bring it, let him come down.
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we will make sure he is well taken care of. liberals love bashing billionaires and unless it is there billionaires'. when it comes to their billionaires', george soros and this guy they don't mind them spending unlimited money to promote this global warming agenda and try to kill manufacturing jobs in this country, killed the coal industry in this country, kill all the energy that is not produced by wind and solar power. the problem is is increasing energy costs for families, hard-working taxpayers are suffering under these radical regulations and they have their billionaires out there trying to promote that message and get involved in political campaigns. that is free speech but they ought to be honest and stop attacking americans on the other side that are trying to promote things that will create jobs. stuart: the irs etc. overseas. today going to coopers town to
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promote tourism, two fund raisers held tonight, what is your take on what the president is doing at this moment in time? >> it says a lot about the president's misplaced priorities, the fact he is spending more time trying to reduce lines at airports than reduce the waiting lines at our va hospitals, you literally have a scandal brewing where it has been exposed that veterans have died waiting for healthcare and the president has known about this for years and it is fading like he is shocked and you read it in the newspaper. why didn't he know about these years ago and do something about it? he is traveling around the country like a campaign in cheek and not taking action to stand up for our veterans of all people to make sure they are getting adequate health care. this is what government run health care looks like a. this is the worst example of what this administration has failed to do in taking care of basic priorities but he's busy campaigning and focusing on things the american people aren't interested in. stuart: when you sound very
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confident. you are a republican congressman, you sound very confident about the election in november. we had forecast earlier on the show from wall street journal quoting a republican, you win the senate and increase your majority by historic proportions in the house. i use that bullish on republicans' chances in november? >> the american people ultimately decide this because these elections are reflections on where people think the country is headed and people are angry about the direction of the country the fact the president has such a failed agenda, the economy is not moving, the president is worried about running manufacturing jobs, global warming and literally shutting down millions of jobs by trying to push minimum-wage increases instead of getting people hard-working taxpayers the ability to get jobs that are not just minimum-wage but higher-priced jobs so i think you are going to see a revolt by people not only against obamacare but so many other broken promises and failed initiatives of this president. stuart: representative steve
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skivvies, republican louisiana thanks for joining us, see you again soon. 30% of people unemployed giving up totally on the search for a job, they are not looking. jobless claims moving above thousands. we have a flat line housing market. a great robust recovery, we will discuss the obama economy in a moment with the dow up 22.
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>> office depot is recalling 1.24 million of its letter task chairs after receiving 25 reports of injuries from users who had fallen off. the company says it can break and separate the seeds from the chair causing users to fall off the chair. this includes office depot's gibson leather chairs sold online from 2003 through 2012 for $40 each. the chairs were made in china and imported by office depot. the federal government announcing plans to spend $2 billion to extend a los
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angeles subway line from downtown l.a. to a beach in santa monica. the project is meant to improve traffic, train stations built a major attractions like museums and shopping areas in beverly hills glen metropolit transportation commission hopes to break ground on a project by the end of the year. we are talking the new normal for jobs in america, the big idea next. (mother vo) when i was pregnant...
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stuart: the halftime report, the real one featuring nicole petallides at the exchange, ed butowksi joining us from detroit of all places, cheryl casone right here in new york. 326,000 people join the unemployment benefit line, that is a rise in that number. what do you make of it? >> it is horrible for the people. if you have a job that number matters to you because when we don't come up with enough jobs that is more debt on the country. we need to average 470 one thousand net new jobs a month for 12 months just to generate enough tax revenue to take care of our existing deficit. that doesn't even include the debt that we owe. we are only functioning at 48% when we average 200,000 net new jobs a month, that is a disaster not just for people looking for work but people who have worked, it is a disaster for this
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country. stuart: a lot more going on and we are watching it for you lose so much for big discounts, it didn't work at sears. nicole: this is a terrible day here, what we are watching, seers came in with the wider than expected loss, got to wonder what eddie lambert is saying about this, controlled by him and his gang, 1.7% for sears, they have kmart under the umbrella as well, the two of them got together in 2005. they don't -- tried to turn this around and are not. one of the analysts, the customer experience at sears and kmart is horrific, and appealing merchandize, that is what everybody is talking about. not saying i am loving it. stuart: discounts didn't make it. obamacare's back door bailout for insurance companies. here it comes, taxpayer money will be fed to him to top up the money they didn't take in from
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premiums. is this a a good time to buy health insurance stocks? >> what a disaster as we said earlier as the congressman was done. i would not even look at these. i look at health care as a down electrical wire after a storm. it flip-flops all over the place you don't know where it is going, we tested financial advisor is to give advice on what we know, there's a lot of confidence i can't tell anyone to jump into the health-care industry. stuart: that was a negative. we have a chinese retailer starting trading today, sales price went up. what does this mean for ali baba which will go public at some point in the relatively near future? >> if you look at the numbers that came in today, j.d..com is not even profitable. they lost $8 million if you look at the stock, it is up $26 billion market cap this company put out.
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the difference is selling directly to the chinese consumer. everybody on the planet trying to get to that middle class, ali baba connects kind of like the bay but ali baba as well gaining traction in the u.s. when you have a friend saying look at this, what great deals i am finding, you know ali baba is picking up steam, going to be big. stuart: it certainly is. you are in default, you say if the market sells off, pension problems are coming. explain. >> not even if it sells off. if we don't see some big numbers out of the market this year you will hear headlines toward the end of the year about a lot of pension plans that are not funded enough. you heard that theme about underfunded pension. alternative investments are not performing at the levels they need to perform to get the number up but the bonds and
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fixed-income out there clipping coupons but yield to maturity for these bonds have 2%, and we have a lot of people retiring starting to draw on that money and the money is not there. this is a huge steam over the next 18 months starting after they were for their numbers on june 30th. watching that story, anyone who has a pension, it will get real dicey, real soon. stuart: you are talking about state worker pensions, right? >> i'm talking corporate pensions, state pensions, this will be an enormous story will start hearing about. is corporations, conoco phillips is doing a good job. a lot of oil companies, most corporate pensions are underfunded, they are not properly funded. if you don't get enough growth in those pension plans there will be a major problem in this
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country. stuart: that is it for the real halftime report, we thank you one in all. $4,800 a month for a summer vacation home in hawaii. find out what you get for your money after the break, cheryl casone is here. let when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america.
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engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. 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.
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lou: on lou dobbs tonight, i will talk to a senator about the upcoming primaries, how the gop plans to take back the senate and much much more. olin us tonight at 7:00 p.m. eastern. stuart: memorial day weekend kicks off tomorrow which means summer rentals season, cheryl casone is here, taking a look at 5,000 bucks gets you in two very nice summer rental markets. first, would you get for 5,000? cheryl: the west coast love them and this is a popular place if you are a west poster, a 6 hour flight to malik, two veterans, two bass, it was built in 1942. not new and has an freshen the but you will never be in the house, 300 and month, a garage,
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just a block away from that famous beach, one of the most beautiful beaches in the country, you can go hiking which i would do and have done in hawaii but that is you get. stuart: three bedrooms, two bathrooms. >> block from the beach. mountain above you, beach below you. stuart: next one is edgar town in massachusetts, extraordinary comparison to make with malloy, hawaii. edgar town, mass. $4,900 a month. >> we like to stay on the east coast come easy to take the family. 2,000 square feet, double the size of the hawaiian property, half the price when you are renting it, cable ready, it is good for families, the home itself is traditional and it
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hasn't been freshened up, it was built in 1985 and was decorated in 1985 but got more room, you would enjoy the coastal living style of massachusetts versus hawaii. stuart: someone like me who lives on the east coast that is a no-brainer, i go to add your town. the west coast i might think about mallee. they are the same price. >> very different locations but if you take a one month rental, will you take the whole month off of work? or do weekends? you are and why for a month. stuart: i am not taking a month at all. i will be here all summer. your take on the whole show is next.
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really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. introducing at&t mobile share value plans... ...with our best-ever pricing for business. stuart: i am for a well-organized -- you want a welfare state.
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conversation is necessary. >> first lesson you learned that the school of economics, a hundred times on the blackboard. taxation -- we need cash. stuart: i am saying nothing. i wonder if one of these days the judge will set on this set and not mock the queen. it is fund to have him on the show. here is what you say about the rest of the show. the million-dollar bounty by the irs scandal, i hope all guilty irs employees are fired or demoted or jailed for attacking the tea party and engaging in election temporary. nixon and his henchman paid the price, show should obama and his. christopher says this about those people, half of the people who are unemployed simply stopped looking for job, if this administration takes away the unemployment benefits and then people will be forced to get off their butts and contribute to
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our country instead of dragging it down again. you will never win any election like that. you say i am going to create jobs, that is how you get the country moving. you don't rank on the unemployed. you will never win. here is dierdre bolton. dierdre: thank you very much, we will be focusing in the next hour on seers, struggling consumer electronics a weak spot for the country. the man at the top of billionaire hedge fund investor eddie lambert has some tough choices ahead. chinese online retailer j.d..com, public shares are up, why investors are so interested in the chinese version of amazon.com. goldman sachs, two your property downturn, will affect age at's biggest economy. the advice to investors with exposure to the region say the offensive. with more on investing in asia we turn to thailand, the army chiefs declared a coup, th

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