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tv   Varney Company  FOX Business  June 6, 2014 11:00am-1:01pm EDT

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company." california crawled, stuart. stuart: i am not a gambling sort of guy. wait a minute. you know the answer to that question is where is my money? microsoft. thank you, maria. are you kidding me? only 200,000 jobs last month and something that is great? we have only just returned to the employment level of 2007. no wonder 28% inc. we are in a recession and 39% think that this is an economic downturn. getting much closer to 17 k. the 58% think the market is rigged. the race of the banks continues. paying at least 12 billion for the mortgage sands of a company
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it was forced to buy. lebron james could not take the heat. the heat loses a very important game. "varney & company" is about to begin. ♪ stuart: please, on a friday morning, look at this. smile, everybody. yes, it is friday morning. we have the graphic ready. the s&p 500, record high yesterday. almost there at 1950. it is a rally. how about gold. up $50. down $2 today. the interest rate barometer. no change on the yield of a 10 year treasury. amazon stock. again, moving up. it was up big yesterday.
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look at general motors stock. moving higher. i will call it a maricopa probe mary barra. now, this. six in 10 voters say that the stock market is rigged to favor big investors. 58%, to be exact. all right, charles, i do not think that it is rigged. do you? charles: i think that there are shenanigans that go on day to day. they need to separate the wall street. that physical place downtown. please, that is where they are making the huge mistakes. the insider trading, the hedge fund scandals. none of that has anything to do with the fact that you buy general mills.
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will you prove your retirement? will you send your kids to college? stuart: it is 16,900. if you thought the market was rigged and you stayed out because of the big guys, you miss all of it. >> this is the irony of the obama administration. they pumped up the stock market. you sell the stock market go through the roof. the people who benefited are the folks who owns equities. to charles point, is the market rigged? no. you want as much information as possible. get the fcc out of the business of telling trades where to go. get as much information as we possibly can. get that participation rate up. >> all right. there are lots of winners today.
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one in particular. nicole, why? >> we continue to follow the story about what states will get the factory. where they will be making their lithium ion batteries. >> i thought it was up much more than that. 1% is not a big winner. i will see a lot more big winners than a 1% gain for tesla nicole: up almost 7%. stuart: thank you. there you go. nicole: rite aid, also. stuart: kate spade. i know kate spade. >> they make great bags. fabulous bags.
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i was looking at kate spade. up about 3%. less than tesla. go back to angie's list. bank of america made a buy on that one. stuart: we will get back to you. the dow is up 68 points now. 95.5 points from 17,000. all right. i said earlier it was a disappointing jobs report. there was no surge in job creation in the month of spring. 217,000 new jobs in may. over a third of them are low-paying sectors. mary, i said that is a disappointing report. i characterized it negatively. what would you say? >> it is a modestly good report.
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i wonder if they miss that irony here. we are starting to see these modest gains. there is a long way to go. >> there are easy things to do. they create jobs. build the keystone pipeline. >> disappointed in charles. are you going to disagree with me? >> considering high taxes, considering all the revelations, this shows the reelection for the white house and the president kept saying he would build an economy built to last. no. we already have it. the dna is still intact.
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>> i think you are seeing these games because there have not been budget hikes. i look to the midterm elections to get more confidence. if the republicans take over the senate. we may not see more garbage dumped on this economy. charles: midterm elections, republicans won the senate, it will not change the president, but it becomes a huge roadblock. stuart: hold on a second. i have polling numbers on the performance of the economy. two thirds say that the economy is in pretty bad shape. another 39% say that the country is in an economic downturn. two thirds of the people are not happy. >> we are not in recession.
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charles: we are bumping along. bumping along for a country that is used to forging ahead. we are used to ups and downs. the biggest problem, i think, in this country is the sort of indifferent malaise that is hovering above us. i think it is reflected in economies and jobs and everything else. >> i have to agree. a lot of people out there not looking for work. they are getting all of these benefits from the federal government. this is not where we are supposed to be right now. >> okay. as of may, we finally got back all the jobs. all the way back to where we were at the peak of employment
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2007. it took us seven years. 15 million more. >> that is why you seabees numbers. people feel like we are in a recession. >> it just does not seem right for america. >> 19 million people work in part-time for noneconomic reasons. i know some people, working mothers and all of that, 19 million speaks to another part of society. just live day to day, month to month. stuart: 19 million. that is a choice. >> that is europe. stuart: the dow is now up 70 points. we are going to follow this thing. that is a rally.
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you will be looking at the horse that has everyone talking. california chrome. started back in the beginning of may. racing to the head of the pack. it won the kentucky derby. the first triple crown contender. first contenders and big brown in 2008. if chrome can pull it off tomorrow, he will be the first triple crown winner since 1978. the owner spent $10,000 to breed him. he has already pulled in three and a half million in winnings. just wait until he goes to start. then we have gm chief, mary barra, taking responsibility for that massive recall fiasco. then you have president obama refusing to apologize. we will be talking leadership after this.
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stuart: check the big board, please. this is a rally. 16905. i will tell you, we are just shy, actually, 1252. steve. it's all right, folks. he has a new book. in his book, it is called money. the gold standard, go back to the gold standard and the world will have prosperity. steve forbes is here. did you say that? >> absolutely. stuart: it will never happen. >> we have one for the first 180 years of our country's
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existence. would you like 50% more money? i would think so. >> you need the study value. after a period of a few months, you would fix the dollar of gold. it goes above 1250. the federal reserve starts to tighten up a little bit. it goes below 1250. it eases up. >> the dollar has a stable value. >> why have we not seen it so far? >> because we have all been brainwashed. we should have learned from the 1970s. that does not work. some people are slow to learn.
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stuart: time to move on. [laughter] >> they put so much jargon into equations around. stuart: fix the price of gold. paid the price of the dollar to gold. 58% of people think that the stock market is rigged. you do not believe that, do you? >> no. people do not trust institutions anymore. bad, bad environment. the kings got it right on that. the destruction of the dollar threatens the global economy and what we can do about it. >> absolutely. not as hard as the economist would think. stuart: i have a number for you.
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bank of america will be fined at least $12 billion over the mortgage mess. they were forced to take over countrywide during the financial crisis. they had a lot of problems which had been inherited by bank of america. i call this the shakedown. >> it is. you have to ask who was harmed here. it looks a lot like the fine that they paid. somehow they were defrauding fannie and freddie. these are ridiculous charges. when you have a bank doing something very bad, going around sanctions in iran, nobody believes it. the government has spent the last several years saying payout. they really should not be paying for.
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who gives away the money? where does that money go? who gets rewarded with our money? >> i have to move on because we are really short today. we have a tale of two leaders for you this morning. first, leadership. mary barra. she has been getting out ahead of the recall crisis. she is taking control. here is what she said yesterday. >> this problem is not a fair reflection of the company as a whole. i know it and i know you know it, too. we are better than this. we have to own this problem and we have to have the courage to do deal with it in the right way. >> then there is president obama. he refuses to accept responsibility. listen to this. >> the basic principle. we do not leave anybody wearing the american uniform behind.
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we have a prisoner at war whose health had deteriorated. we were deeply concerned about it. we saw an opportunity and we seized it. i make no apologies for that. i will say there is a branding problem going on. denise young yong is with us this morning. i say that mary barra at general motors has approached this in the right way. i think our brand will appear unscathed at the end of this. i think president obama is a different story. >> it is a different story. mary is doing all of the things right. she is taking responsibility. really focusing on rebuilding the culture and changing the culture at gm.
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what i think is missing is the future. she really needs to set a vision for gm. something that will get people excited. we have not heard that story. i want to hear more of that from her. obama, clearly, something wrong happened at gm. somebody needs to take responsibility. there are still a lot of question marks with obama. staying on the fence right now or not really taking a strong position to apologize yet. stuart: netflix. posting messages on its streaming player. ordering them to remove the message.
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everybody hates the cable providers. >> they do. very smart for a couple of reasons. they want to have a lot of control over their experience. netflix is really appealing to their base. netflix wants to be known as a network. not just a technology or internet provider. by calling the cable networks out, or cable providers out, they are making a big statement. they are big. they are a force to be reckoned with. they will not be ignored. >> do not ignore them. i think they enhance their brand by trashing the cable guys. thank you very much for joining
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us. >> you're welcome. we have the dial up 64. 16,900. former ambassador, john bolton using strong words to criticize the obama administration. the white house should not be using children to represent the country. lebron james. he cannot take the heat. we show you the full video. discussed what is going on after this. ♪
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♪ let me be clear. i think that children are wonderful. i just do not think that they should be in charge of foreign policy. they will use it the next 2.5 years to try to take advantage of us. stuart: ambassador bolton was responding to some comments from a young state department spokesperson. he was reacting to a question about the appearance of our public officials makes us look to other world leaders.
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i will start with paul. is obama so ignorant that he does not see that effect of spokesman who look 15 years old and have a normal adult. dave also has harsh words for the administration. the amateur sorority is hard to even watch. they send out to represent us, those, could not be more unprofessional. there we have malone blaming millennial's. eighteen-23 -year-olds did not play videos every day. we seriously need to think about raising the voting age to 25 in order to save our country. thank you for sharing your opinions with us. it sounds like we have a lot of grumpy old man. a big name you know. angie's list. one upgrade.
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10% gain. now this. miami heat. forward, lebron james. forced to leave last night's game early because of severe leg cramping. the air-conditioning in the arena malfunctioned making it extremely hot. gatorade said the person cramping was not our client. our athletes can take the heat. lebron james endorses power rate. >> i happen to love this. they developed a culture of success. it is based on fundamentals. i think it is amazing that the young athletic guys could not take the heat. i love it. >> have you ever played sports?
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>> they are in miami. maybe lebron needs to take some laps around south beach. >> he is in miami. come on. >> maybe it will malfunctioned again. >> lebron is an easy target. every now and then, you have to take a hit for it. we will tell you about what i think is a very important story coming up. they ordered a taxi app to stop all operations in the state. no more goober in virginia. they say it is legal. looks like the bureaucrats are killing what i call part of the sharing economy. we have it for you next. ♪
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lift stop operating in virginia. just cut it out. do not do it. rich edson joins us now. >> looking at how they work in the regulations. the dmv said you have to stop operating in the state of virginia. if i am in virginia this weekend and need a ride, i do not know why i would be, but for the purpose of this exercise, i do. they plan on moving forward with this. they will look into finding drivers. they want to make it a top priority. this fight continues. >> thank you very much, indeed. rich just puts his finger on it right there. these are disrupted companies.
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>> right. we have seen this fight all over the country and maybe even around the world. even sydney australia. i actually see an upside to this fight. this is really exciting to see that consumers can organize on social media and push back against the kind of cronyism that has produced these very substandard taxi services. if you look in washington, d.c., all of a sudden the taxi cabs have credit card machines. why did that happen? because goober came in. they provided competition. >> you can call it a sharing economy, if you like. it is breaking established organizations. i see this holy good. any objections?
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>> i saw it as a trustee economy. stuart: online organizations of industries. >> giving consumers a voice. stuart: now you are talking. back to this morning's jobs report. we have a former liberty department chief of staff under george w. bush. as of right now, in the month of may, we finally returned to the employment level that we had back in 2007 when employment was at the height. am i right? it has taken us seven years to get back to where we were. >> that is right. the quality of the jobs is the important difference here. >> what do we see that suggests a lot of low-paying jobs.
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>> you see the growth there. what you do not see is the immediate pickup. those are still lagging behind. when you take a look at it, statistically, they are way off. it is nowhere close to recovering in those high-paying jobs. stuart: i cannot resist the temptation to run again the soundbite from vice president joe biden. >> maybe nobody got left behind. every new job would not be a high-paying job. stuart: we did not guarantee that every new job would be a high-paying job. >> well, he got that right. he just has to go back and look at what the obama administration
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said about this. all of this stuff was he around phrases by the administration. for the vice president, i guess that this is par for the course. the administration made huge investments of our money to create high-paying jobs and they have not paid off. that is their language. not anyone else's. stuart: it is not too bad. how would you characterize it? >> we are better than all of this. incremental increases for an economy, it is not sufficient. if we accept the premise that incremental approach is fine, then, yes, it is a good report. america is capable of doing much, much more.
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it is a bipartisan type of thing that can be accomplished. we can create many more jobs across america in the sector. it is not a great report. stuart: thank you very much, indeed. got to go to the big board for a second. i have to concentrate on this rally today. you are now up 60 odd points. 16,900. the stock market is up. that is very interesting. finishing this friday with a possible run. not a bad way to close out the week. how about this? an 89-year-old d-day veteran. reenacting his parachute jump. look at that. eighty-nine. that was today. seventy years after the initial jump back on d-day.
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we will discuss the country's leadership. we will discuss what it is like today. ♪ stick with power. stick with technology. get the flexcare platinum from philips sonicare and save now. philips sonicare
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♪ charles: time now for making money. i have united rentals. stuart has never heard of them. i have been in love with this company for a long time. pent up demand. the company says the confidence
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was at levels of a record right now. enough to buy these things. controlling expenses. minimal maintenance tracking all of that stuff. the company has almost $8 billion worth. fundamentals are fantastic. they always beat the street. they posted $0.90 this last quarter. continuing to take market share. they are already number one in the world. the rate going through the roof. i am looking for $140 in the next two years. ♪ i love to eat. i love hanging out with my friends. i have a great fit with my dentures. i love kiwis. i've always had that issue with the seeds getting under my denture.
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stuart: a nice rally. nicole: a big mover here. found only 9% for hertz global. they have about 90% of the car market. they have to resave their results. this is because of some accounting issues that they had. their chief financial officer back and december was replaced. there were some accounting issues. this is not good news for hertz. down 9%. >> that is a drop and a half. thank you very much, indeed. look at this. an 89-year-old d-day veteran parachuting into the same field that he landed into the normandy
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invasion 70 years ago. compare that to now. questions about our countries leadership. joining us now from washington is thomas. welcome to the program. i want you to make a comparison. what happened then and what is happening now? >> stuart, there is no way that the united states would trade a deserter for title and a whole host of other german leaders which these high valued terrorist were. we would not do that. there is no reason today why we would do that. we have an administration that wants to lead from behind. does anyone think that the united states was reading from
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behind? no way. we had the largest number of people ever assaulted on western europe and we did it as the leaders of that coalition that later grew into nato. the great economic success. we are not the same nation. stuart: that leads to my next question. would america today fight to save the world as it did 70 years ago? >> this administration would not, unfortunately. i was a vice commander and chief and we had 4000 tanks. we had these tanks in western europe. today we have zero tanks.
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we have to light for grades that could not really deter or persuade or stop anybody and mr. putin understands that. we are creating instability in the world as we look at it today. stuart: is that what the american people want today? talking about what the united states of america wants? >> i think that the american people want the united states to be a leader in the world. a superpower and grow at four-7% of economic growth per year and have lots of jobs and be the leaders. we can do that. a whole host of other issues cutting our taxes. making it a welcome location for industry. we can be there if we want to. we have elected not to, this administration has elect did not
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to be there. stuart: that is a harsh judgment, general. thank you for sharing your experiences and expertise with us today. stuart: check the big board. rally is still on. 97.8 points away from 17,000. maybe we could get to use that new graphic. not sure it is going to happen during this particular program. who knows. check out the 10 year treasury. the barometer for interest rates. 2.57. what are you laughing at? charles: tells stuart -- [laughter] stuart: can i just explained for one shocking moment, a truck in england is called a lorry.
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stuart: forget your traditional touristy bus to work. lauren simonetti tells us why this is very different. this is a good story. ♪ we're moving our company to new york state.
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♪ stuart: the way people to her big cities is really changing. lauren simonetti took one of these two words. it is called the ride. we will show you how it went. roll it, please. >> here we go. this is the ride. part theater, part tour. a popular way to see new york city from above. >> we have colosseum seating. this is expensive. 1.5 million. we have four of them. costing $74 a ticket. not a bad way to see the big apple from times square.
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two columbus circle. >> it just speaks to its health. >> the street is the stage. as we explore, now, new york city, as we journey through this 4.2-mile magical journey. >> this building is home to over 20 million. >> or one kendall. >> you will see a lot of history. we have 40 interactive screens that will tell you a lot about what you are seeing. along the way, you will discover things on the street. some of them are fun. >> i love you. the cities that we are most excited about are obvious las vegas. they were made to order.
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san francisco is a personal favorite of mine that i am looking forward to. we have had conversations there. los angeles and maybe new orleans. stuart: lawrence of and that he is with us right here in the studio this morning. you look out. stuart: use it sideways. there are big windows. there are screens everywhere. you are constantly entertained. stuart: do they pay the performers? >> that is actually one of their biggest expenses. they have it set up all over the city. you cannot tell if it is a real person or an actor. stuart: what is the price again? for the most part, $74 a ticket. stuart: how long does the tour last?
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>> it depends on traffic. ours lasted an hour. stuart: that is not bad. there was another guy at the other end. they were hilarious. very successful. they are really thinking about expanding this to london. they can go where ever their imagination will go. how do you get a bust down the street? as long as they can craft it, they can do it. stuart: i thought it was a great idea. great story. streaming video. yes, it is taking over. you are taking your tv with you. a lot about it is watching sports anywhere anytime. big money and diamonds. we have them here in the studio. guess how much.
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5 carats. 5 carats. ♪
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[ the human league's "human" plays ] humans... sometimes life trips us up. sometimes we trip ourselves up. and although the mistakes may seem to just keep coming at you... so do the solutions. like multi-policy discounts from liberty mutual insurance. save up to 10% just for combining your auto and home insurance. call liberty mutual insurance at... to speak with an insurance expert and ask about all the personalized savings available for when you get married, move into a new house, or add a car to your policy. personalized coverage and savings -- all the things humans need to make our world a little less imperfect. call... and ask about all the ways you could save. liberty mutual insurance. responsibility. what's your policy?
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it has been a great week for investors but a rough week for president obama. today we celebrate what america did for the world 70 years ago. it is the day and we have not forgotten. headlines this friday, 200,000 new jobs, not big, wages of 2%. investors don't care. look at stocks, highs across the board. the debate on millennials keeps going, deep in debt, living at home. has obama changed young america? we tell you this, they are watching screens but not tv, an
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explosion in online viewing is changing the culture. diamonds, beautiful sparklers, 5 carrot pink or blue held in my hand here today. i promise you this, we will never forget d-day, 70 years ago june 6th i will tell you my father's story. he was there. to the markets this looks good, up she goes, 16,000, almost 900 on the dow, the s&p 500 record high yesterday, $19.47. check that barometer for interest rates, 2.57% on the treasury. amazon up again, it was up big yesterday, $5 at $3.20, general motors shares, on the ignition problem. sold 36. away from the markets to obamacare, congressional budget office quietly and announcing it is no longer possible to assess
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the financial impact of a law, can't tell us how much it is going to cost. fox news contributor and town hall political editor guy that has been following this and joins us now. why can't they tell us how much it is going to cost? >> because there has been such a state of revisions and the days and waivers they are having trouble keeping up with this patchwork of changes and it seems based on their report they are throwing in the towel. let me read to you from roll-call which came out this week, they write in its latest report in the law meaning obamacare the cbo said it is no longer possible to assess the overall fiscal impact of the law. that conclusion came as a surprise to some fiscal experts in washington and is drawing concern. without a clear picture of the law's overall financing including revenue raisers it could be much easier politically to continue delaying pieces of
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the law because any resulting cost increases could be hidden. stuart: i am trying to read between the lines, it is complicated technical stuff. it sounds to me like it is not going to be deficit neutral as the president said. it will cost a small fortune but that is my input. how about yours? >> my input is is so interesting contrasting what has come out this week, they quietly announced you said several weeks ago compared to what democrats were crowing about in 2010 when they pass this thing but you remember it. it is less than the one trillion dollars to reduce the deficit and they use those two talking points and this manufactured cbo's work to bring the law across the finish line and get recalcitrant democrats a figleaf to justify voting for the law and we have done all these changes on the fly and it looks
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very much as many of us suspected like the taxes, finance this law and custom medicare might not happen on time. the way the law was built to supposedly reduce the deficit has been rubbed out, and that the drop of they had month after month you don't know what is coming and cbos throwing in the towel. stuart: you think it is possibly an excuse to delay more parts and more pieces of it and to easily without a financial impact being immediately apparent? >> exactly right. that is the benefit and such a perverse benefit to the white house because they cited the cbo scores a cynically manufactured in 2010. now buy their own actions they're making it impossible for the cbo to do its job and therefore additional changes that they make net that come out in headlines saying these changes will cost taxpayers x because it is such a complicated
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formula. stuart: did you go through the fine print? did you stay up all night working through the technical pages? did you? >> i did not. i read this in roll-call but i did go through at the time as did paul ryan and he was the point on man this, in elucidating all of the various gimmicks used to come up with positive sounding numbers, reducing the deficit even though we are creating a brand new entitlement. here is the cbo proof now those things are falling by the wayside as we anticipated the white house must be very pleased by the fact the congressional budget office is throwing johnny manziel hands and saying we can't continue to assess the fiscal impact of this law if we keep changing it for undetermined periods of time. stuart: doing the legwork. we have the may jobs report at 8:30 eastern this morning. i say it is disappointing.
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217,000 new jobs created. i say disappointing and you say what? >> i would agree it is disappointing. with in what economists were looking at but the issue is not just that number, 217,000 or 6.3% unemployment rate but how many people are not being counted is the real issue. you had a guest a couple segments of the talking about construction jobs that are not there anymore. yet that clips from joe biden and the situation is not getting better because there an awful lot of people who are not able to find work so they are not calm any more so it is almost like the cbo's situation. stuart: why is the stock market rallying like this? i have the dow i see seem thousand 900. >> is ignoring, it has for the longest time, such a disconnect between the economy and what happened, you don't have a dog you are thinking why is the dow ideas and the all-time highs, i am out of work and can't find
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work and haven't been able to look for work. it has been like that for a long time but professional traders and investors get it so if they are invested in the market, that is the only way to be but it is a big disconnect between that and the way the economy works. stuart: could it be that if interest rates are so low i put my banking to receive your bond again nothing so almost forced into the stock market where i have a chance of a capital gain, nice rally, maybe that is what is going up. >> if you are going to take one or the of the won't put it -- won't make anything with the stock market going straight up this people have jobs or not. stuart: thank you very much, see you next week. >> he is right. there is no participation, 10% of american households have 80% of stocks. rich getting richer. stuart: was it each trade reporting the other day that the number of small investors trading, buying individual stocks was down 14%, 15% from
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months before? unfortunately missing this, look at the rally, 16-9, dow industrials. >> a couple stocks at that. stuart: today netflix releasing a new season of orange is the new black. does that have any effect on the stock. this is a big deal. nicole: this is a big deal. the stock is up 3/4% for netflix, 85 and sunny, who cares? people are going to be holed up over the weekend and binge watching orange is the new black about this girl who is a drug trafficker put into women's correction facility with a bunch of other women to contend with. it really really is very verypo. stuart: i got to watch this. a pretty young spigots into prison and we make a series out of it and we are all watching
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it. is loosely based on reality. i put on my twitters this morning, orange is the new black season 2 out now and someone at 8:there in the morning said they are wrapped episode 4. it was 8:30 in the morning. >> millions of people watching this story. stuart: this is what millennials are doing vegetables are people in studios shaking their heads. >> want to know what i would like instead of orange is the new black? that beautiful diamond you showed. stuart: the diamond is to my left, the two of them. taser. that is that 5 carat blue. might not be able to hold that shortly. that is a 5 carrot pink. that is beautiful. stay tuned because here they come. however more and more cable companies are cutting the cord moving to streaming devices to
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get their tv fixed. online tv viewing, online viewing, look at the screen on sony tvs, live streaming across -- look at that number up 246% from a year ago, online viewing up 246%. we have a guest to knows something about that, she is here, the wall street journal reporter, can you explain what is going on with this? >> a lot of folks, the younger generation, many older too. stuart: what do you mean by that? >> many folks want to get things on demand and when they want to watch it so the tv providers, cable providers and programmers, media companies like the ones that don't this channel are creating these apps so a lot of young people can authenticate in and say i pay for cable but also
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want to watch this one i am on the go. in addition to that, there are folks like netflix and hulu and all these people that aid cord cutters to watch tv programs. stuart: that is a revolution, that is a real cultural shift because people are watching screens that they are not watching what tv is giving to them. they are watching to decide what they want to choose to watch. that is the difference. >> that is the thing all the media companies have to figure out, how to appeal to those folks because the biggest piece of their ad revenue pie comes from live linear channels. stuart: 246% increase on online viewing in one year. you weren't expecting at at the wall street journal. >> we expect everything. that is stunning. >> every man in your life when sports are on look like you will never see their eyes ever. stuart: what do you think?
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>> sports is a big part of it but also complicated because they have to get rights from the leagues could give those rights to the tv channels and it is a lot of steps to make sure we can streams that and we talked the other day that at&t the reason it bought directv is a pending transaction because it want to talk about packaging nfl sunday ticket which is afternoon football games on sundays with its mobile broadband. stuart: vastly expand the value of sports franchises. if you watch that game anywhere anytime on this, you vastly expanded the value of the thing. you are less than 30 years old teacher and i allowed to ask that? you are a millennial. this is a revolution. my job is at stake because people are not watching television, they are watching
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you. william and is that? >> i will come back. of the one q up the harp music. more diamonds on "varney and company". these were worth millions live on set in one moment. i ys say be thman with the plan
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stuart: soccer legend david beckham wants to build a soccer stadium in miami. the city says cheryl casone knows the story. cheryl: miami dade county to be more specific got burned with the stadium, the baseball stadium. financially burned. what happened was the team came in and got to get the stadium built, miami dade put out money for the marlins and next thing you know the team is decimated, no more winning and all the lawsuits ensued. they don't want to go through that again with david beckham. stuart: it would be a separate stadium built for soccer and soccer only. and american based team with
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backham and running and running it. >> one of his business partners. stuart: they say he might come out of retirement and play. >> that would be more of the draw for the team but they are worlds apart when it comes to this negotiating process. basically where they want to put the stadium is public land. miami dade county saying we will rent you that for a few million the year and only want to pay 500,000 you because they have to pay to build the stadium. is worlds apart, millions of dollars apart in negotiations and the city this week said we are taking a break. stuart: you had david beckham, miami which is home to a lot of people from latin america, huge soccer fans and what else? that is pretty much what you have got. >> basketball situation going on down there. they want to be next to the
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american airlines arena. stuart: at the end of the day do you think the soccer stadium will be built? let go? >> david beckham said i unwilling to pay rent to come to terms on the financial agreement and that is the problem but i don't think miami wants to use this. stuart: june 6th, 2014, cheryl casone said they will build it and they will come. thanks very much. you know how we love expensive, beautiful jewelry on the show. we have some for you today. we brought sparklers, forgive me for saying this, sparklers, that is the way i think of it. right next to you, this one over here. that is 5 carrot pink. fancy, vivid pink diamond.
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>> the strongest saturation one can have, bubble gum,. stuart: so the color and intensity of the, which adds to the value and the value would be? >> the estimate for the auction on june 10th in new york is 6,000,005 to $700,000. stuart: million -- >> $1,250,000 per carat. >> extremely high. the prize of a colored diamonds. i am not sure i would pay that for 5 carrot pink. >> if you had a pink one like that and you did on your show $40 million. stuart: so what did you say? 6 million for the fur of -- move over here and that is a 5 carat blue. >> intense greenish blue with two colors, a little bit of an aqua colored diamond and that is in for $1 million. stuart: wait a minute.
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what is the difference? a different color, okay. >> the purity on the stone is near flawless. the purity on that stone is down to small inclusion. that changes the value of the stone. stuart: is in eighth floor -- >> diamonds are carbon so with the carbon has not crystallize it stays as a black mark and that is what this stone has so the colors special but it does have black flecks in the stone and that changes the price. stuart: that takes $5 million away from it. >> this is one step down in the color saturation as well ended is a greenish blue which means it has a color modifier. the cure the color of the more expensive the stock. stuart: the necklace sitting right next to me. feels like a zipper. you want to explain this? >> this is a special necklace. so called because in the 1930s,
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elsa chaparral used this and the duchess of windsor looked at this and thought this is great and as their chief designer in the 50s to make a necklace that would look like it and in 1953, unveiled the first zip necklace. stuart: the duchess of windsor was the wife of edward viii who abdicated in the 1930s. fast-forward to the 1950s the duchess asked for one of these and the first one, it is beautiful -- >> you can take it and adjust the lens. stuart: moved it up and down. how much? >> $250,000. stuart: when it, $250,000 seems like a bargain compared to a 5 carrot pink vermilion or blue vermilion and 5 carat pink for 6
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million. explain yourself. >> you have a single diamond, dark bubblegum pink near flawless stone, chances of finding this finding 200 million, chances of finding an intense green blue stone, one in maybe 50 million. they still make these. you can go to the store and buy them. it will cost more than we have at christie's so it's ready and demand and supply. stuart: does the dodgers where that one? >> this is a more modern version. case started making them in various versions with diamondss. newer version but just as beautiful. stuart: i you the auctioneer? i the guy -- >> with the gavel. stuart: i came to one of your options and what's just honestly with the rapidity with which you go through the items, you spend
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90 seconds. >> 60 items of jewelry at every hour. stuart: averaging one minute? >> or less. that will take me five minute so if you have $10,000, 1,085 it is gone, something like this used art at 4 million and warm up the room and it takes time and we hope you can get to $9 million on tuesday. stuart: tuesday june 10th at night. the afternoon. >> try not to keep it too late so we have plants from europe and asia on the phone. stuart: thank you for allowing the sparklers today. come and see us again. thank you. up next, a different my take, for you today, very personal one, the story of my father, a d-day veteran next. (mother vo) when i was pregnant
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stuart: eastern time right there at 69. it is a rally. goldman sachs leading the dow gainers, goldman is up a couple bucks, 165. coming the shortly, mike huckabee on obama's america and how he, the president, might
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have changed the millennial generation. today is the day. engine 6, 70 years ago, an invading force largely american, british and canadian troops began the liberation of europe, they shaped history for the better. my father was there. here is my take. john lambert varney volunteered for the royal navy after the war broke out. he had two sons, my older brothers. they stayed behind with mom in england. his service took him to south africa mutt egypt and the mediterranean where his ship was torpedoed and he spent time in a life raft. on the night of june 5th, 1944, he was on a mine sweeper clearing the english channel between britain and france. when the job was done his ship sailed back as the invading armada went the other way to the normandy beaches. he told me it was a mighty
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force, that was his words, there were thousands and thousands of ships that kept on coming. he was there. he rarely spoke about it. mom wouldn't let him. bloody war, she would say. my father was away for five years and came home on just three brief occasions. after the war he came home to the house. my older brothers didn't know it. it broke his heart but he was there, he was there 70 years ago. he could never have imagined the family he started would include asians, africans, new zealanders, australians, germans and americans. by being there on the day he made that possible. god bless him. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪
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personalized coverage and savings -- all the things humans need to make our world a little less imperfect. call... and ask about all the ways you could save. liberty mutual insurance. responsibility. what's your policy? stuart: american wealth hitting record levels. you got details one this? >> i know it doesn't feel like it. americans net worth, our wealth went up in the first two months of this year when the economy contracted in a brutally cold winter wind up to record high almost $82 trillion. the stock market going up but who is invested in the stock market? a rich people. this is the bigger reason, home
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values are going up. if your home is worth more you feel richer and spend more money except we are not spending more money. that is not happening and i ask what about millennials? millennials are making america as a nation of renters. i don't know if we can continue. >> millennials the unemployment rate is 15.2%. that came out this morning so they are not participating in the number we saw. stuart: i would contest your view that rich people own stocks. everybody -- everybody with a pension plan, anybody in a mutual fund, every union guy whose union has a pension plan are in the stock market, they share in all this. >> alternative investments for the wealthy, real-estate. why do you think i am covering it. that is the number one alternative investment for the wealthy. real-estate. they're not putting money in the
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markets, don't trust the market, they're burned by the market, looking for tangible assets taken hold in their hands and would rather buy the necklace you had a few moments ago than stock in the stock market. there's a complete distressed in the stock market. it is certainly out there but it is not all stocks anymore. stuart: we are going to do something we have done often on this program which is show go pro video. we have given more money than anybody else. a scene from country music superstar brad paisley's latest concert. a fan holds up the go pro recording the concert, paisley grabbed the camera, uses it as a slide for his guitar solo. really unique video. >> you didn't show the part where he picked it up from the camera guy, the gentleman's hand. his eyes were looking at a man becomes back and grabs it, this
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is mine now. stuart: i wonder if he knows that go perot is going public soon and if it gives him a video like this and he buys gold fro -- >> they are amazing cameras. high-quality. stuart: we rain video the other day of a guy in south africa with and go pro in his helmet, he is robbed by three guys at gunpoint, they take everything except the go pro camera which is still rolling and identified from the go pro video and go to prison and are arrested. go pro consistently comes up with this kind of grabbedy video that every one wants to watch. >> always the stuff you would never think of capturing. stuart: we just got mike huckabee, we were worried about him. we couldn't get the shot but we got him, about to see him. governor, welcome to the
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program, glad you are with us. i want to -- >> great to be with you. stuart: i want to talk about the millennial generation. we have given in a snapshot of millennials, a third of some of living at home with mom and dad. there appears to be some reluctance to get out there and get a job and work. if i as the general question, do you think president obama has changed the attitudes of young people in america? i think we all believe the president has fundamentally changed america as a whole. has he had that kind of impact on the young generation? >> i think he has. deutsche bank did a study showing a third of people living between 18 and 34 are still at home with their parents. when i grow up i couldn't wait until i was 18 and get on my own. i was married when i was 18 years old. things are very different today. people staying at home. here is the thing i find interesting.
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obama campaigned on the idea of change. now the only change lot of these millennials have is:they find in their parents's sofa because they can't get a job, have huge student loans that have not been effective in landing them a good job and they are still living at home and the unemployment rate among millennials, here's the thing that isn't skyrocketing but falling to the ground and that is obama approval numbers among those very millennials. i've heard said 23% of the only ones who are going to go vote this year among millennials. 75% going to stay home just forget the election. stuart: do you think things would change, the attitude of young people, do you think it would change its policies were different and we got some serious economic growth? can you turn a switch on a generation? >> absolutely. let's go back to 1980. jimmy carter was president, the
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country was -- king never used the word but it was described as a malaise, sort of a dispirited time in american history and people were looking at double digit inflation rates, extraordinary costs and energy and fuel and start looking at all that and young people in 1980, i was somewhat yum then were utterly discouraged and dispirited. ronald reagan gets elected, changes the attitude of america and i always believe if you change the attitude, the altitude will change with it and if we want america to go up we will change the attitude that you can't change the attitude with policies just to suck up, salute and get used to inform. that was really unacceptable for america. stuart: do you think sometimes you and i i similar vintage called older than you are. some months similar vintage. we're para ingraham build guys looking back at the generation
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saying these youngsters today are not like us. ever get that impression? >> a lot of young people today are great. they are smart, i think they have a real sense of understanding how big the world is and the lot of them are just discouraged and disgustedly they put their hopes and faith in this president who represented to them and degeneration, the first non baby boomer president in american history, the first one that came out of a generation beyond the baby boomers. rather than being curmudgeons which we may well be the real issue is there is a factor, it doesn't have to remain that way. i have a lot of faith and hope in younger people. i don't think they are all lazy. a lot of them would love to do something significant with their lives but they have to be challenged and they have to be given something they were supposed to get with obama but has been taken from the man that is hope. they don't have a lot of hope right now.
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stuart: thank you for joining us. we will be watching you tomorrow night at 8:00 p.m. eastern on the fox news channel. thanks for being with us. appreciate it. the majority of people say the market is rigged, 58%. so do you viewers, the strong opinions about that statistic, 58% think the market is rigged. we will deal with that in a moment. [ 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.
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i'll ask again... what's in your wallet? >> the new chairman and ceo to scott davis. and the ceo since 2008, and he will assume the world of non-executive chairman. and that company's chief operating officer began his carrier in 1979, part-time package load. both moves affected september 1st. walmart's annuals shareholder meeting is today in arkansas. the company will have to address numerous shareholder concerns like five straight quarters of declining sales and walmart's stock performance which has been flat for a year-and-a-half. nearly six in ten people think the stock market is rigged.
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we will discuss that in the real halftime report coming up next. the stock market raid. so many people out there.
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stuart: friday lunch time, the real halftime report. john layfield from bermuda and cheryl casone in new york. 50% think the stock market is
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rigged to favor big time investor, the big guy and you viewers a lot of you agree with that. here is some response. margaret says i have known too many people who worked on wall street, there is no way i could say it is not rigged. buster says yes i do. i don't know many normal people still investing in it. john wayfield, you think the market is rigged? >> these huge institutional investors have an advantage significantly over small-time investors. is that necessarily rigged or just a favor is that they have that is over the average investor? they are able to pick up the phone and call management, something the average investor is not to do. the way that it is rigged is the high frequency trades margolis wrote about where you use speed to fund run orders. that is the rigged scenario but for the average investor to invest something in buy and hold it doesn't matter. stuart: i agree with you.
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>> i agree high-frequency traders get an advantage however if you invest in the s&p 500 index you make 30% on your money last year and from the beginning of time from the dow in the late 1800'ss it is a 66% of the time. whether it is rigged to or not maybe you didn't make as much as the big guys are the ones with the money but you still won. stuart: that is a fair point. >> the small investor is worried about stock picking which is why they're going for the index and playing the s&p 500. they feel they are completely rigged when it comes to individual stocks. stuart: whatever your feelings are don't leave the rally because it has been a real good one. what we are watching for you i am calling a disappointing jobs report, 217,000 jobs created. what do you say? cheryl: a very disappointing jobs report. if you look at wage growth didn't happen, labour
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participation rates, same situation last month, incredibly high number, season of participation, workers continue to give up and those that are working right now that are part time, service sector jobs, 12.3% of them are looking to get full time and they can't, you have a frustrated job seeker, wages are stagnant, low-wage jobs plenty of them, high wage jobs, where are they? stuart: john, disappointing, yes or no? >> i tend to be disappointing, you still have 62.8% labor force participation rate, that is the lowest in 36 years, the lowest since jimmy carter. we have a massive skills gap in our country. replacing these good jobs are low-wage jobs. >> 215,000 jobs.
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>> i got lucky with that one. stuart: tell me about a's list. >> it is doing so great. bank of america, merrill lynch, a buy rating. 9%. we talk about big it movers, a stellar performer. stuart: i am saying bank of america which is find $12 billion, i say that is a shakedown. what do you say? >> it is the transfer of bad political points. this has been going on since the beginning of the country. andrew jackson, very low approval ratings, they go after somebody with a lower approval rating, they spotlight them. same as big tobacco, this is the
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way to put the mantle on the trophy case and brag about it. stuart: two thirds say the economy is in bad shape. >> numbers back me up. and when the, quote, recovery began it was 2%. 2% growth, first quarters this year we had a horrible winter and about the 1% rating but where will let economy grow? those are not growing. on the high level, manufacturing activity lower, where is the economy growing? this is a closing in my life. stuart: last one for you from bermuda. where does the dow hit 17,000? >> after the summer, not much is done during the summer. you will see some sort of fall rally and go over 17,000 in the fall. stuart: we are 90 points away
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from 17 k. >> the smallest bull in the world. >> we might call this summer, i think i will say over in the fall. stuart: thanks, great real halftime report this friday, appreciate it, one and all. risk and reward is next. dierdre: we continue your conversation about this jobs report showing basically all of the jobs that were lost since the great recession have been added back to the u.s. economy so we will talk about what that means if you have alternative asset, your portfolio, trying to rebalance a little bit, that is topic 1 on risk and reward which starts in a few minutes time. in the meantime back to you, very happy friday. stuart: thank you very much. the state of virginia going after cougar -- uber. the service is illegal, bureaucrats trying to kill what i am calling the sharing economy. we got that story coming up next.
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now what? not milk. not sheep. not that. let's think smarter. let's get some science in here. let's build a bed. another bed? no, a smarter bed a entirely new sleep number bed that tracks your movement, your heartbeat, your breathing - sensors working directly with the dual air chambers - yeah you need the air chambers. introducing the sleep number bed now with sleepiq technology. it tracks your sleep patterns and tells you how to adjust for... a good night's sleep, a better night, and an awesome night. so what sleep number adjustments make the difference? try cranking it up? adjust it down? a little bubbly? or nix the late night flicks? wait, you'll know what works, cuz sleepiq™ technology tells you. and all you have to do is sleep. which is easy. only at a sleep number store, mattresses with sleepiq start at just $999.98 because everyone deserves a great night's sleep. know better sleep with sleep number. stuart: sharing the economy
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taking a hit here. in virginia the dmv tells uber and lift, a similar system, stop operating, you don't want to do that in this stage, get out of here. i think that is shutting them down. cheryl: for now. the biggest story is these are the unions that have been pushing especially in virginia to get the state -- absolutely. this is good union, looking to get, they want uber for taxi drivers and want them out, they have the union support, union backers behind them and they had a victory in virginia because uber and left -- how are they going to enforce it? that is the bigger question. how do you say you are driving some one back to your car? is that your friend or your customer? stuart: uber is a disruptive company disrupting the establishment car service.
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>> as this air b&b, the rules, the regulations are not keeping up with disruptive companies. they have to change and that they'd be laws. and putting the new guys out of business. >> getting so many drivers and putting other companies out of business. stuart: i know of a car service that has lost 1-third of its drivers binge they have gone to uber. >> it is all the time. >> the dow industrials are up 75 points at 6912, inching up this friday. we will have your take next. [ male announcer ] if you're taking multiple medications,
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a dry mouth isn't. biotene -- for people who suffer from dry mouth. stuart: on the night of june 5, 1944, he was on a mine sweeper. when the job was done, his ship sailed back. he sailed through the armada.
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that was a small part of the story i shared during my take on my father's experience. he was there. right there in the middle of it. i am truly grateful for that. here is your take on the rest of today's program. my dad was on the beaches of normandy. it was a duty and they did it without complaint. nina says it is just summer jobs. we are in a depression. that is a little extreme, i have to say. >> she is right about the summer jobs issue.
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absolutely. stuart: sorry. keep watching. deirdre bolton, it is yours. deirdre: the opposite of depression. at least on this sunny friday. one of the best stretches of job creation since the 1990s. sears chairman eddie lampert taxing. details on that strategy session coming your way. in the sport of kings, the winners circle not just for the rich. if california chrome wins, it will be a major return and investments. businesses added 217,000 jobs last month. the total payroll

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