>> they meet you at the door. maria: thank you for joining us, everybody. have a fantastic weekend. join us for opening bell on monday. i will see you on wednesday. time for "varney & company." stuart: no apology is necessary. the president making a damaging gallup poll. two out of three disagreed with what is i dread i -- question today, would you wear and i watch on your wrist with a two and a half inch screen. it is friday. the sun is shining in new york.

"varney & company" about to begin. ♪ stuart: this is the big story of the day. the irs. roll this. >> an apology to this committee. >> i do not think an apology is owed. every e-mail has been preserved that we have. we have produced or will produce -- >> you do not think that the time is relevant to this investigation? stuart: and it goes on, but no apologies. a very contentious hearing. one of the aggrieved parties in this incident. welcome back.

watching what is going on. we will roll some clips shortly of what the congressman is saying there. what is your response? >> i think there needs to be a huge apology. they are our recipients. they need to be seized. they need to be looked at. we can be assured this is a cover-up. stuart: right. i want to move on to paul ryan. congressman paul ryan. he is clearly upset about this whole scandal. watch this. >> this is not being forthcoming. this is being misleading again.

this is a pattern of abuse. a pattern of behavior that is not giving us any confidence that this agency is being impartial. i do not believe you. >> that is the first time anyone has said that they do not believe me. >> i do not believe you. >> that is fine. it was not. in 27 pages. when asked about the custodians -- >> being forthcoming is to say, you know what -- >> we let him answer the question. >> i did not ask him a question. stuart: your response. >> if this truly happens, losing e-mails is devastating. when asked a year ago, they would have remembered that.

they would be saying you do not have two tournament because we lost them. now, all of a sudden, when they are demanded to turn them over a computer hard drive crashed and that is the excuse? again. i am not buying it. stuart: give me 30 seconds about what happened to you. >> we applied for a 5 o 1 c 4. it took almost two years. it took badgering and bullying wanting to know the names of all of our volunteers. our donors. they wanted copies of every speech ever given. every handout. clear violations of our rights.

stuart: what the irs did to you, did that restrict your political activity? >> it restricted our abilities to raise funds. our members were so fearful of the irs coming back that they did not want to give. stuart: thank you so much for being with us again today. come back again. we will have you on very soon. i promise. i will break from that for a second. we have with us mary kissel. you were watching that sound bite there. look, i think the irs help throw the election of 2012. have i gone too far? >> the arrogance is what astounds me. we know more than 500 groups

were targeted. stuart: 500? i did not know it was 500. >> several hundred. now their e-mails are lost. the president ordered a campaign owner to run the investigation. this needs to go to court. a judge will have to compel the irs to turn over whatever hard drives they have. the e-mails went somewhere. you'll have to see a judge compel other agencies. the justice department, maybe even the white house. stuart: charles, i will get to you in a second. i want to get to the market. pretty close to record territory. the s&p 500.

a series of record highs in the past couple weeks. as for gold, that is up $100 an ounce this calendar year. the yield on the 10 year treasury is now at 2.62%. then we have oracle. it is lower today. disappointing fourth-quarter results. down 5% for oracle. that is a big loss. maybe the run for guns has cooled off. down 10%. darden restaurants. moving lower. adam is that the exchange. tell us why. >> red lobster and olive garden are down today over 3%. the stock has lost about $1.77 in trading.

what happened is the same store sales disappointed. this is anti-italian eatery with very popular salads and bread. same-store sales were down 6%. the one place was longhorn steakhouse. sales were up 2.4%. back to you, stuart. stuart: thank you, adam. there are reports that in an apple smart watch will be launched this fall. according to reuters, a manufacturing company is the source of this report. the watch will have a two and a half inch screen. it may be curved around your wrist. this is a mock of what the apple smart watch may look like. we did this, everybody.

we did this. much larger than the current smart watches on the market. >> you have already forgotten. [laughter] stuart: can you imagine putting something that size on your wrist, charles? charles: they all have on big watches. here is the thing, if they have the functionality, they are justified. it could be flat on your wrist. stuart: is it a true innovation? charles: we do not know.

stocks are up 50 points this friday morning. youngsters flooding across the border. the president has lost america on immigration. two out of three people are still pouring into our city. i asked the l.a. city administrator what he will do about it. here is his response. >> we are all paying for it. it is a humanitarian crisis. i think the integration issue has been a winner in the past. >> it is a winner for both

parties. also, two thirds of republicans support it, too. i think people will conclude, well, it is too much of a risk for us. that is wrong. charles: this would not even be the topic. >> this is a vocal minority that is driving talk radio. stuart: i agree with you. it is. not immigration reform.

>> you know where this will go, the president will sign and amnesty. the democrats will just sit back and say, look, republicans don't like you. they don't want you. the gop should come up with a common sense bill. charles: mary, what is that common sense bill? do you have that? >> overall, when you look at the bill, people are for it. i think this is a winning republican voters. my opinion. thanks a lot. stuart: green mountain.

betting big on georgia. coming up next, georgia's governor is here. what he had to offer keurig. motorcyclists thrown off his bike in the middle of a busy intersection. look at that. he will get up and walk away in a second. you see it again. he did get up and walk away. what a guy. that is a lucky guy. ♪ ♪

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to. stuart: it is friday morning. look at gold. up above 40. 1358. $107 a barrel. almost a nine-month high. it is a dow stock.

not helping the dow. to 17,000. yes, it is. then we have keurig green mountain. creating new jobs in douglas county, georgia. here is georgia's governor. republican. governor of georgia. congratulations. you pulled keurig out of georgia. what did you give them? >> we gave them the same thing we offered to any other company. we have seen a huge increase in manufacturing as a result of that. stuart: low tax, low business regulation states. i put you in the former

category. you are laying out to the truck businesses. >> exactly right. that is why we take great pride in being designated that way. we are bringing the business community together with our leaders. figuring out what we need to do to be more competitive. we have been having great success. keurig is certainly one of the most recent examples. it is a huge new product that they are producing. it will be cold packs as opposed to their traditional hot packs. i have to ask you about immigration. it is developing into a very big story today. 50,000 youngsters coming across the southern border.

coming into the united states. our audience is seeing pictures of them right now. they are going to cities and states like georgia. how do you feel about this, governor? >> there is not a lot that the state can do. the reality is, the ability of people crossing our border is a federal issue. we hope the government will address this as soon as possible. stuart: are you going to have to pay for this? you will have to pay for their education. you will have to pay for their healthcare. that is you. >> well, that is true. they do show up in our public classrooms. also, the healthcare, many of

them will be medicaid eligible, perhaps. it does have a financial impact on state and local governments. stuart: do you have any input into washington to say, look, there is something going wrong here. fix it. >> i certainly am in communication. i know that this is a nation where they are paying particular information. one of those subjects that has been in a part of the gridlock problem. nothing very effect of lee happening. small bits and pieces rather than a large package. that is usually the word that

kills any effort at the federal level to advance reforms. stuart: thank you very much for joining us. >> thank you, sir. thank you. stuart: mueller deals. they love what pope francis has to say about the economy. the dow is up 47. ♪

♪ stuart: first it was the economy. now president obama is going after the marijuana industry. they failo produce the desired effects. the topic of marijuana. the state of new york is now planning to legalize medical marijuana in edible form. it would allow doctors to prescribe marijuana to eligible patients, but it would not allow them to smoke it.

do you think that eventually it will be legal at the federal level? >> i think that you have to have a vote at the federal level. the department of justice is saying we are willing to ignore the federal law. i think that is dangerous. congress thinks it is time to legalize pot. lou: as a crime, i think it has ruined a lot of crimes. stuart: a loss for england in the world cup. uruguay beats england 2-1. the u.s. faces portugal on

sunday. i bet you will be watching. charles: i will peak in periodically. >> the audience is actually on your side. teaming up with google. a plan to get more women into technology. the ceo will join us in just a moment. larry the cable guy. here is a highlight. >> it is a bout time you got your life right and had me on the show. you be like, we have to get our lives in order. we have to get the prices up. usa, obviously, will win the whole thing.

i am giving away $1000 every 14 days this summer. you think that if i was on with stuart varney, i would get more than 15 seconds. ♪ [bell rings] ♪ time and sales data.

split-second stats. ♪ its so close to the options floor, you'll bust your brain-box. all on thinkorswim, from td ameritrade. my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure.

pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa. when folks think about wthey 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. it's one more part of our commitment to america.

♪ stuart: scott walker is at the center of a campaign finance. >> the facts in the case are pretty clear. both of them have looked at this information. stuart: all right. prosecutors say that he had an essential role in fund-raising. you just heard his defense. what do you make of the story? >> and effort to criminalize political speech. there is nothing to these allegations. there is nothing new here. two judges have rolled this out.

they are saying that there is nothing to it. stuart: this is what has been released. are they smearing him? >> john chisholm, francis schmitz, thrown out of court. a four-year investigation. but under secrecy allegations. all of the editorials are up there. when walker says two judges threw it out, that is the story. stuart: that is legitimate? >> absolutely legitimate. when opponents of free speech cannot win in the court, that is what you see here. stuart: we have been telling you, google is everywhere. yes, it is. it is partnering with the

printing company. getting girls -- the ceo is here to tell us. you have a partnership with google. programming code. >> that is exactly right. the idea behind it is to get girls much more excited to make things with software. getting into technology. one of the elements you can do is design your own bracelet. you can buy it. >> we really want to get you

interested. >> the answer is really simple. it has been declining. >> the number of computer graduates is declining. >> a valid social goal to get more young women to cope. >> in general, more technology. we need more and more people. they are pretty hard to find. focus on problems and solve them. stuart: you are teaching them how to code.

you are teaching them how to write and read software to produce a bracelet like this, for example. >> more inspiring. we all understand that. first, you need to be inspired. why would i even be bothered to study computer science? >> you can make anything you want. that is what the website does. it inspires teenage girls to get interested. they can make a product that they can actually touch and feel. it connects them. it is the beginning. the last step on getting interested and curious about what technology can mean for them. stuart: why did they pick you?

do they pay you? >> yes. stuart: very good. >> i love this product. stuart: was it competitive? >> we are the only ones that could do it for them. stuart: you were an immigrant to the united states of america. a technology immigrant. >> we moved the main office. we wanted to be in our biggest market. that is what the city is all about. we moved the main office here. welcome to america. looks like you are doing okay. thank you.

appreciate it. like those fancy watches, good news, you can buy one of these beauties. you can buy one of them free and clear. no bidding. no auctions. we will show you how you can do it. ♪

[ male announcer ] it's one of the most amazing things we build and it doesn't even fly. we build it in classrooms and exhibit halls, mentoring tomorrow's innovators. we build it raising roofs, preserving habitats and serving america's veterans. every day, thousands of boeing volunteers help make their communities the best they can be. building something better for all of us. ♪

♪ charles: today's making money segment. communication for everything. you do not have to be the winners to exhibit communication. try washing machines, refrigerators, dishwashers. that is right. this covers it all. execution, phenomenal. they beat the streets every single time. it still has room to the upside. keep looking at $5.03. $4.72. probably have to ratcheted up even higher. probably growing about 34% a

year. that means they will take a lot of market share. that means a lot of money. ♪

thank ythank you for defendiyour sacrifice. and thank you for your bravery. thank you colonel. thank you daddy. military families are uniquely thankful for many things, the legacy of usaa auto insurance can be one of them. if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life. ♪ stuart: carfax. better sales and profits. look at it go. going the other way is oracle. adam at the exchange. you have to tell me why.

adam: let's take a look at what is happening with this stock, stuart. oracle is down 5.6%. they are the number one loser on the s&p right now. they missed on revenue yesterday when they reported. they actually raised the price. they have raised their guidance as well. oracle is a mixed bag for them. they are up 28%. stuart: all right, adam, think you. we have some beautiful watches to show you. i mean it. first check the watches. all right. welcome to the program. first of all, want to see this $54,000 watch. >> a beautiful, vintage circa

2000 -- stuart: made in 2000 do call it vintage? >> anything that has been pre-owned. stuart: $54,000. >> it is rare. there is always a demand. stuart: this is the jackie o style. we have it on a different shot. not that one. get me the jackie o. >> there it is. that is the jackie o style. >> jackie o for that watch. andy warhol were that watch.

stuart: how much for that style? approximately 3500. it is not being worn. >> just the classic trend proof watch. stuart: they are not unusual, are they? >> they have the original matching president bracelet. you are also getting a great value because it is priced around 15,000. with pre-owned vintage watches, we find collectors really love the values. stuart: charles, get your head out of the computer for a second. charles: that sounds like a

great deal. it really does. fifteen grand -- >> vintage, late 80s. stuart: how much is that? >> 7500. stuart: i do not have to auction these. >> no. we started a new website. it really is a process where they can interact with a specialist. ask questions. we have recorded videos. they can see it live. do i watch that is coming. we believe it will have a 2.5-inch screen on your wrist. >> i am a huge apple fan. we have two riffs. maybe that would be great. thank you so much.

stuart: have to get back to the big story today. getting grilled over the missing e-mails. listen to congressman kevin brady. >> at this point, why should anyone believe you? the irs denied for two years targeting. that was not the truth. you said you were targeting liberals. that was not the truth. you were sure you provided all of the e-mails in may and that was not the truth. today you are telling us out of thousands of irs computers, the one that lost the e-mails with a person of interest in an ongoing investigation. that is not the truth either. stuart: he got the last word.

charles: i agree 1000%. this is an abrasive contempt by the administration. a two-party system. this is absolutely amazing. they disappeared from the targeting scandal. i have seen this over and over again. they do not give us the answers. >> those e-mails are on some server. >> of course they are. be honest with american politics. yes, this played a major role. i think mitt romney fumbling the ball probably played a bigger role. this is probably a second or

third reason. stuart: a big deal. all right, everybody. thank you. eric cantor out. republican takes the reins of house. does that mean even more gridlock in d.c.? another established republican is whipping republicans in line in house. that is the story. ♪ means keeping seven billion ctransactions flowing.g, and when weather hits, it's data mayhem.

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♪ stuart: shakeup in house leadership. house republicans overwhelmingly voted kevin mccarthy. "wall street journal" mary kissel is here. mary, steve, the new arm twister and chief. i thought that was a big deal. >> no, i do not think so.

he does not make policy. i do not think you will see a big deviation in the republican agenda look, this establishment versus tea party device, they are not as far apart as people say they are. charles: the tea party got shafted. >> a guy that you want. stuart: okay. you will be back. the obama's want their daughter to get a taste of what it would be like to work on minimum wage. working and getting a paycheck is not always fun and fair. some would say that is politicizing the kids. charles: to a certain degree.

my son worked with me last summer. stuart: do you think that it is a good thing? >> i would work at minimum wage. i think that it will work. he was on time everyday and did a great job. >> it is good for kids to work. >> not fun or fair. >> you politicize in the sense where you know they will not have these kinds of jobs. stuart: no.

the president is saying that it is not fair. minimum wage is not fair. that is the politicize they should. >> what a great policy. stuart: what a cynic you are. trying to do the math. thirty-eight points and change away from 17,000. we have a shiny 17 k graphic. we have had it in store for three weeks. we have not used it. new at noon. world cup advertisements. just not working. he says they do not work. also, more on that contentious irs hearing. there were some fireworks on capitol hill.

the next hour is two minutes away. ♪ 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. it's one more part of our commitment to america.

the numbers are impressive.y to new york state. over 400,000 new private sector jobs... making new york state number two in the nation 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. [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪

neil looking to escape another week of scandal land retreat. the irs is trying to explain away the loss of two years worth of e-mails, the most blatant cover-up in memory. the iraq america saved is gone. iran has the power now. voters do not like what the president is doing so cheer up. it is summer. team usa place sunday and this is the second hour of "varney and company". headlines. look at it stock market moving up again, 17 k is what? 36 points away. that is about it. two of three turn against the president on immigration.

thousands of youngsters continued to pour across the border and manufacturer says the apple i watch is going into production. it has a 2.5 change screen. please stop helping us. that is the title of his. jason riley answers the question why do black leaders and voters look to the government for help? why do so many millennials live and home? catherine schwarzenegger answers the question and she wrote that book. american companies are not getting their money's worth at the world cup and england is out. yes they are. the apple i watch reported in coming this fall, 2-1/2 inch screen. more than ten since is including a fitness tracker. we're just joking around here. we thought it might look like that. this is just having fun with a 2-1/2 inch screen. digital trends editor-in-chief

jerry mclaughslynn is here. we may curve around the risk, we didn't put that in the graphic. >> it would be nice. i am wearing a hefty watch right here myself. you see this thing. it is gigantic, an ordinary watch but proved that people can wear a big watches. stuart: it is a 2-1/2 inch screen. >> that would be big but picture a wrap around that extends around the sides of the rest of a little bit. that is an unreasonable assumption. stuart: when you think that would work? >> i saw a prototype of an entire wraparound screen, the entire face of the watch. stuart: when you think that is okay? that will sell? >> one thing apple does well is designed, if they're coming out with something along these lines it could work. remains to be seen if they are actually doing it. stuart: i know you don't know what the ten sensors are. at least i don't know. do you think it is sufficiently innovative to the brand new

consumer products like an iphone. is it that big?>> very interest because this scene so many cubbies coming dow with watches. i should you six 7. innovation has already occurred. what is going to happen is going to be polishing up. same thing with the smart phone originally when it came out with the often, there were a bunch of phones out there and they did it so much better. stuart: it is an innovation but not revolution. >> i am wearing it right now. this is what is working, this is what is selling and it is because it is thin, it is unobtrusive, somewhat attractive, attract everything within the body and that is what the i watch supposedly is doing as well but to actually wear something as large as we are talking about, 2-1/2 inch screen and women of big consumers, that is not going to go for it. stuart: am i going to watch a movie like this? the answer is no i am not the words screen implies watching

entertainment and videos and that kind of thing. maybe this will do something completely differently >> i'm thinking notification, little bits of data from your phone. have a message from somebody at the front door, who knows what it could be. stuart: deal like this? i know you aren't taking. >> i love the concept of smart watches. the reason i'm wearing a regular watch, i haven't seen one that is particularly good enough. >> that is why this isn't going to work. apple is making a mistake. stuart: you say this is a mistake, not going to work. >> absolutely. look at the wearable tech market is not -- it has got to be attractive. you said it yourself, you don't want to wear a big gigantic thing on your list. it is too much. are you going to go out and spend if this is $700? i could see it being $700 if it is an apple product, not going to be bought. stuart: there is a reason they haven't put one out yet which we have been talking about for years. >> probably trying to get

something that works designwise. stuart: investors don't love this thing. if this is accurate, 2-1/2 inch screen and all the rest of eds stock is $92 a share. it is barely budging today. it was the innovation, no change at all, no impact on the stock whatsoever. >> this news broke after the bell yesterday. stuart: you will be buying one, won't you? >> absolutely. stuart: when you get one free to test. and you will not buy one. >> no. they want to make some things that monitors the body and heart rate, great. otherwise no. i got an iphone. stuart: my black very -- that is not true. start laughing. check the big board. we are not at 17,000. we do have a graphic ready to go. it hit 17,000 but not there yet. look at the s&p 500, that is record territory yet again. we just confirmed it, 1962, we were a fraction higher earlier but this is a record day, as

9500. let's look at radio shack. i'm inclined to put this thing on deathwatch. would that be legitimate? adam: that would be legitimate. on monday, un charles payne botox in about this, it is a new 52 week low, $0.91. first time in its history it fell below $1. the stock is down 55%, they had $61 million cash on hand. they started the year was nominated million dollars a lot of analysts are concerned. go to bankruptcy, closed doors and can't do it because of their credit agreements, without permission from the creditors but the other question is what about the listing. caught a close below $1 for 30 days to reconsider and for that kind of thing. is not automatic and also has seen a market capitalization threshold which right now radio shack as above but as you point out earlier in the week last time anyone walk in to radio shack was to buy a walkman or, or 64. stuart: that was cool. take it back. adam: i take it back.

stuart: when won't put it on deathwatch. scott kennedy is in chicago. the market keeps on going up. give me the reason why. got to give me a simple reason everybody understands why the dow is close to 17,000. >> because the baton has been passed to the ecb. beam monetary accommodation the ecb did a week ago was the big impetus and with janet yellen saying what she just said, not really giving any of the market's recent to be worried, she is happy with the prices where they are, passed the baton as far as the combination those. stuart: got to bring it down to where it. you say the european central bank, they are printing money. that is it? >> yes. stuart: the mechanics of this, don't understand mechanics. they print money so what happens to the dollar? why does the dollar affects everything else? got to take it to me.

>> they are going to be printing money which makes their currency cheaper abroad which would then actually strengthens the dollar and the dollar could be seen as something you may be wants to invest in because the dollar is strong. that may give a boost to the mark a little bit but our market is not going up fast. we have all time record highs and record low volumes, this is a balance sheet recovery, this is not a mainstream recovery. if everything was really that good you would see the ceos investing in their plants, buying and equipment, building bigger building than they are not, they're buying back their stock. that is why the markets keep going higher. we have record low volumes, record high prices have but it is because the money is finding a way to the stock market because of this insatiable search for returns. everyone needs to get their money back but mark me is this, my last words, we're going to move from a situation where people want a return on their money to return of their money

but we are not quite there yet. stuart: very good, thanks very much, see you later. all i know is microsoft is approaching $42 a share and violence and microsoft. jason riley is a member of the wall street journal editorial board and he also wrote this book, the title, please stop helping us:how liberals make it harder for blacks to succeed. jason is with us right now. the title says it all but i have a specific question. why do black leaders and voters consistently expect and want the government to help? >> the left has done a brilliant job convincing blacks that the government is to their benefit and i think that is what takes place here, particularly with the black elite, bigger government helps the status quo, the civil rights industry and it has become an industry. it moved from a movement to an industry and the government is very lucrative for it. the point of this book, however,

is blacks ultimately must help themselves. they must develop the habit and trade and characteristics, behavior's the other groups that events in our society developed to the extent that a government program however well-intentioned interferes with that self development, does more harm isn't good. stuart: there is a great deal of help being extended to the black community. and the lot of communities in america. an enormous amount of who upheld whether his food or rental subsidies for. i see that as a trap because you'd give so much that getting out of that traps that you are in is very difficult. >> open-ended welfare policies to not help people develop a work ethic. it is a trap and it has resulted in generation after generation of dependency. stuart: if someone like me says that, i am accused of blaming the victims and a racist. that is the accusation. >> that is the accusation. that is something pushed by the left and by democrats.

you can't impose their policies or you will be called racist or if i say that i will be called a sellout. stuart: is there any suggestion in your book that things are beginning to change? at the moment the black vote is monolithic. four democrats and for government but any sign of change? >> among younger blacks they're more open to the ideas i'm talking about in the book. the older generation, the naacp types, al sharpton tyson dizzy jacksons are hopeless but i think among younger blacks, college campuses and so forth if you go into black communities and speak to younger people they are much more open to the idea i am putting forward in this book. stuart: let the breakaway and the date the audience and what is going on capitol hill with the irs commissioner, he has been on thought seat all morning on capitol hill. i want you to listen for a second to congressman paul ryan really having a go at them. it is a long sound bite that you learn a lot.

>> this is not being forthcoming. this is being misleading again. this is a pattern of abuse, a pattern of behavior that is not giving us any confidence that this agency is being impartial. i don't believe you. >> i have a long career, that is the first time anyone said you don't believe me. we can have a disagreement. i'm willing to stand on our record, willing to remind you was not buried in 27 pages. most of that 27 pages is exhibits. less about the custodians we advise you -- been forthcoming with renew for one day. >> being forthcoming is to say congress is investigating the it is >> let him answer the question. >> didn't ask him a question. >> jason riley is with us, you are with the wall street journal editorial board dummy also followed this very closely. would you make of that interchange and that gentleman on the hot seat.

>> paul ryan is being incredibly restraint. i think it is outrageous what is going on. this may be the most feared government agency in america. the idea this administration would use it to go after its political enemies is an outrage and they're not being forthcoming. the timing of these missing e-mails and the smart quote needed here. i don't think they are missing. i think they are not being forthcoming with the e-mails and the fact that they would go missing from the key officials involved in the scandal at precisely the time that congress begins its investigation his too much to take and it speaks to a competence issue. this is along with the va scandal and obamacare rollout, speaks to the president's mismanagement for his management capabilities in general. again he looks like he is in over his head when it comes to managing. stuart: i go further than that. i think the election of 2012 was corrupted in part by what happened with the irs and the

president's political done in. >> i have seen nothing to make not believe that so far. stuart: the new book please stop helping us, thanks for joining us. up next companies spending big money to advertise during the world, but we have someone who's as ads like this when you are about to see, where is the money? ♪ i ys say be thman with the plan

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stuart: high end apartment buildings feature everything but developers are catering to a new type of client, your pet. cheryl casone is here looking into this. are you telling me specials for pets or salons for pets? >> these developers in several cities across the country, urban developments, d.c. state parks

in new york, texas, building these buildings specifically for pet owners because the renters than coming in comedy and regeneration are saying they want and amenities for their pets, as they want pools, they want the spa for the pet, they want -- can i show you a picture? senate square in washington d.c. a very new up and coming area of d.c. they actually have a rooftop dog park. stuart: a rooftop dog park. for your dog and this is what these young sprinters are looking for. that is what they want. gone are the days -- it is bring your pet but pale little more. stuart: when you got to bailout more for this. are you series? they have swimming pools? >> a development that is underway in dallas, tx that is going to be building a swimming pool for dogs as part of the

development and another one will be building of spot or is building up at spa for grooming, sitting, everything else for animals. stuart: you got to pass judgment on this, crazy? cheryl: is a brilliant thing for developers to be doing. the intergenerational these pets by their kids. it is true. stuart: okay. got you. stuart: let's get to the world cup. i know england is out. we dealt with an already. we won't talk about it again. the world cup is the biggest sporting event in the world. our next guest says u.s. companies, it is just not worth advertising around the world come. greg smith is with us. what about you? >> a you kidding me? i think it has to be put into context but the reality is we're hearing people referred to the world cup as the super bowl of

soccer and i categorically dismiss the that for two primary reasons, one is the super bowl is an inherently u.s. centric event and so for u.s. advertisers it is always a goal to event where you know you will capture of their u.s. centric audience that will galvanize find your message and really watch the conflict. the world cup, however, is not. it is a more global -- in addition because it is is not so tvcentric. most of the most interesting advertising and marketing opportunities around world cup are happening in local markets. it is much more localized, happening socially and happening digitally. if you were to say network tv was the primary media vehicle for the super bowl i would argue that twitter is the primary world water cooler media vehicle for the world cup. this approach of the television center approach where the ads

are quite clever engaging and fun -- a luann now i got your point. i will agree with you because -- >> well, good. stuart: it is friday. you are saying if you concentrate on network television for additional advertising you are not getting your money's worth because the world cup is beingd differently on social media where the action is. >> i see the ad like the hyundai ad you just showed. is a charming and, very traditional in its approach, it is drafting this sort of novelty event in the u.s. that the world cup represents, i don't think it has a long tail, it is more of a novelty store at this point also may be after sunday. stuart: what you are pointing out the nature of advertising. >> exactly right. i am saying globalism has finally arrived in the world sporting market. if you look in the 80s, 50% of

all global ads spent were spent in the u.s.. today is around 1/3. we are seeing that globalism taking place but as it takes place the media implications are vast because the go to devices are not television, they are smart phones, on some occasions tablets. >> madison avenue has not picked that up. but when it comes to new media advertising they are not taking their clients's big money, not pushing what they should be. >> they are doing it but the reality is they have been so stuck in the past is like anything's. unwinding those traditional habits is hard to do end nobody really knows when you take that for in the road because it is not like it happens overnight. this is an ongoing iterative

process as people take to different forms of media. stuart: on sunday night when america, team usa plays portugal i bet you that gets 20 million tv viewers. >> it got 11 million with gonna, 11 million -- across both platforms. i will agree with that. what i would say is when you think of all the planning and expense and production that goes into creating these television advertisements that sounds like a big number, it is a one time event so if you put all your money into this customized content around a television show that average to 15 million viewers like dancing with the stars and you customize your content against that you would be getting 20 million viewers ten times over. stuart: it is the fear agency? thanks very much. it is an issue that is close to

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stuart: jeff: better sales, better pricing, up she goes, 17%. wait for it, fox and friends host brian kilmeade is coming and will be here shortly. in a few minutes it is always interesting on friday when brian kilmeade is in the studio because you can never get rid of him. the new gallup poll on immigration is a very big deal. two out of three disapprove of what the president has been doing. that is a significant shift in public opinion. here is my take. i am an immigrant and came here with a lot of advantages. i experienced the warm embrace of america's generosity. i am truly grateful. i am. what are we to make of the recent change in attitudes?

65% turned against the president. what is going on? two things. first, president obama has encouraged tens of thousands of young people to come, he will not send children back. thousands are being flown around the country. it is a humanitarian crisis but the president's own making. it is the president himself who has turned public opinion and who pays? the senators okay $2 billion already and will be hit with a bill for education and medical care. america has not suddenly turned nasty. america is asking what this president is up to. second, here comes the november election and it occurs to me what is going on at the border will have an impact. immigration has been a winner for democrats. is it now? is it still a winner for democrats? the president is a democrat and encourage the board, he has failed to control the border and it is not going down well with the vast majority of voters.

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stuart: one downgrade and the few firms cutting the price target on pier one. this company cut its forecast yesterday, went down. this is happening today, down 4%, $15. this is the topic we visit very often on "varney and company," the millennial generation. i have a stat for you. when in three young people still lives at home with mom and dad. kathryn schwarzenegger, author of i just graduated, now what? is in los angeles and joining us now. welcome to the program. good to have you with us. >> thank you for having me. stuart: i want you to make a judgment, one in three, one third of 20-somethings are

living at home with mom and dad. do you think that is out of necessity? is it a good thing or a bad thing? what do you make of it? >> if you are able to move back home and save money after college that is a great thing to be able to do. i moved home after college and it was a great option for me to be able to do so. i thank my mom for letting me come, and if you are able to do it is great, it enables them little bit but if you are able to save that money is not a good choice. stuart: do you really? surely the tradition of america, really, the tradition in england when i was a kid was 18, up and out, get out, go live life on your own, take care of yourself, you are an adult, go do it. now you are saying it is okay, you need that cushion of back with more on and dad. not sure i agree but make your case. >> i don't think it is a cushion of mine and dad. student loans are in sane right

now, so many people graduating with a huge amount of student loan debt and to get a job right away, lot of people are graduating in not a great economy, the job market isn't great. if you are able to save money by not having to pay rent or move back home that is a great time to be able to save that money while you are getting on your feet after college. stuart: your book is about college, what you do after college. i got a middle contentious year, i will come that you a little bit. the tradition in america that everybody has to go to college, everybody should go to college. that is the goal. you got to go to college. i look at it another way. a lot of kids should not go to college especially if they're going to get landed with an $80,000 death when they come out. what do you say? >> when i was doing the book i did graduated college and wanted to get advice what to do after college and how to handle the transition but i made it clear as i wanted to have half of the people i interviewed for the book who went to college and half of the people who decided

to drop out of college and didn't feel continuing on in the traditional college was necessary for them, and people who decided not to. great advice for both people. and, and going to college is an amazing experience. stuart: and that is my opinion that it is wrong to go to college, is that your opinion? >> it is a very scary time to come out of college. and there are so many different kinds of jobs, and and people

graduating today there's a sense of excitement and kind of looking forward to their future. stuart: catherine schwarzenegger, thank you. you cannot avoid the big story. this is everywhere. irs chief john koskinen is on the hot seat. will little bit of the take. >> what i didn't hear was an apology to this committee. i don't think an apology is owed. there is not a single e-mail lost since the start of this investigation. every e-mail has been preserved that we have. we have produced a will produce the this >> you don't think the time period between january of 2009 and april of 2011 is relevant to this investigation? stuart: no apologies, not a single e-mail has been lost since the start of this investigation. read the fine print. brian kilmeade has made it to the studio. he is here now. this is a serious subject.

this is outrageous. >> i was watching some of it. i am just amazed that these men are angry. i get it but they have to ask questions. ask questions. i don't want to hear paul ryan rent. i want him asking questions to the irs. i don't care about paul ryan's opinion. i want to move this forward. stuart: when you don't think the right questions were asked? >> one time he said i am not asking a question. stuart: he is- >> get to the point. we can be angry at home. you have a responsibility to ask a question which we will get answers to. stuart: very specific question put right at the very beginning. do you, mr. koskinen, think a special prosecutor is required? wouldn't answer. the question was put and put again and eventually at after 5 minutes we get the answer, no, i don't think a special prosecutor

is required. you are not getting the answers when the questions were asked. >> have the opportunity to go on the record, people can make their opinions better for guys telling the truth or a woman telling the truth and we know -- stuart: what we are dealing with is the possibility of presidential election was interfered with quite deliberately and i am saying it was thrown. it was interfered with, it was thrown by the most feared agency in the united states and if i went to the united states and they ordered me -- i am innocent, i lost the e-mails which will prove my innocence they will put me in prison. >> if you can't produce receipt they won't take your word for it. i give you all that, it is true. how bad must those e-mails be if they are better off not being known, happy to go with that ridiculous excuse where everybody in the country knows they are lying, we're better being accused of buyers than showing what we did? think about how bad they must be. stuart: indeed. you have to get to the bottom of

this because those e-mails exist on some server somewhere. >> if we confine the recipients -- we don't know what we don't know. stuart: we will stick around until the end of the show. >> if you want me to. stuart: new reports that apple is getting ready to release its long-awaited i watch this fall. will everyone turnaround with that two in screen strapped to their lists? it might look something like that. that is our graphic. we discuss that in the real halftime report which is next.

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my mom works at ge. ♪ >> bad news from garden restaurants, olive garden saw any increase and a big jump in profits the last quarter. looks like people are buying the unlimited salad and bread sticks any more. the that the stock, 4816 is down almost 3% as you see on the screen and this news from the weather channel, blowing yahoo! out of apple's whether apps. this has been run by yahoo! for years the starting this fall with the lives of. here's the catch, the weather channel's ceo is a former yahoo! board member. he lead this deal to take yahoo! out. new apps yo has been hacked.

hackers gained back users and a lot more. more "varney and company" coming up in a few minutes. th trying n? th trying n? you feel that in your muscles? yeah...i do... drink water. it's a long story. well, not having branches lets us give you great rates and service. i'd like that. experience a new way to bank where no branches = great rates. ally bank. your money needs an ally. [ male announcer ] the mercedeis here.ummer event now get the unmistakable thrill... and the incredible rush... of the mercedes-benz you've always wanted. ♪ but you better get here fast... [ daughter ] yay, daddy's here! here you go, honey. thank you. [ male announcer ] ...because a good thing like this... phew! [ male announcer ] ...won't last forever. see your authorized dealer for an incredible offer on the exhilarating

c250 sport sedan. but hurry, offers end soon. share your summer moments in your mercedes-benz with us. my motheit's delicious. toffee in the world. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. stuart: here it it is, the real halftime report. at shapira at the stock exchange, brian kilmeade hear from the get go. john, the first. with and i watch, a 2-1/2 inch

screen, making buy apples of? >> no. these came out ahead of the curve. now they are making incremental adjustments to existing products. this i watch allegedly was going to come out a couple years ago, it didn't and they have been beating the market by several companies. this doesn't sound like the apple of holes, they are a great company and losing steve jobs they lost a lot of their vision. stuart: next up, adam has smith and wesson, as the gun rally called because stock is down. >> is a big-time law down 10% and one of the reasons was 2015, much lower than analysts were expecting, they fall to 57%. analysts expected 1% in dollar figures and now expecting 585 million to 600 million in sales, earnings per share, at anywhere from a one dollar and $0.30 to $1.40, not a good day.

stuart: i am sorry, i was temporarily distracted because costa rica just scored a goal against italy and all england fans want to see that. italy zero as we speak. back to you. never mind sell in may and go away. you have a summer stock play for us, go. >> a 10% yields, benefits from domestic oil and gas especially fracking, some buy a degradable products that will be very key to getting what doesn't like fracking. with the political unrest is a good stock. i don't though those stocks. stuart: a different one for you. they're bidding for the buffalo bills. >> ron jovi not only has a player at notre dame, an indoor arena team and on the other side you have the former new jersey general owner, donald trump, saying maybe i should use this

opportunity to get into the nfl because there are no opportunities. it is up for sale. donald from, no one wants to talk about the bid but i am not sure high-profile owner is one they want, they don't love the jerry joness of the world's or he is losing interest in the bid. word is, anyone who wants this team pledged to keep it in buffalo, means a lot to the family. it is the only true new york team? stuart: back to you, the irs and the hot seat, they are not apologizing. you think they should? >> i think they should. i agree with what brian kilmeade said. the dog and pony show of congress, when elijah cummings and darrell issa knowledge of the likely to 8-year-olds kids complete the distracted from what they're trying to find out. looks like a cover-up, they were targeting conservative groups. they can't find that out because it is absolute buffoons in congress right now and these guys acting like petulant

children is making sure we don't find anything out from the irs. stuart: strong stuff. turn your attention to the markets. they seem to me to want to keep going up. how high? >> through the summer it treads water because of the iraq problem right now, you will see oil prices tread a little higher unless something happens and stock market tread water to maybe trend lower. there is no conviction right now and snow volume and we will wait until after labor day before we see the market move in the direction it wants to move. stuart: a little different for you, obamacare costs keep going up, going up faster than before the law was passed. what do you make of this? >> details of two countries. the new york times today, obamacare is cheaper, more people are happy, how insurance companies are reveling in it and i find out reality check, the rest of the world saying i can't figure out and costs are not cheaper and if they are down

there subsidized and where is the subsidy coming from? i just wonder about the shock when we put the employer mandate in to play what that will do for small business and big business? what will do for people to say i'm not giving insurance all these people when waivers it and the election is over people are going to be picked up off of the floor with a shovel. of the when you are right. thank you one and all. that is it for today's halftime report. friday lunch time, good stuff. president obama throwing his own children into the middle of the minimum wage debate. we will tell you what is going on with that after the break. are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone...

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sandra: the alleged benghazi mastermind is in custody and the irs claims lois lerner's hard drive has been destroyed and that six others but will federal prosecutor andrew mccarthy join us to talk about a worsening obama scandal. stuart: i want to brian's take on this. president obama and the first lady get minimum-wage jobs, he wants to show what it is like when it is not fun and the political bit, not fair. when he says it is not fair to

work for minimum wage, that is injecting politics into your children and lives. >> is way out of bounds. he was a waiter and scooped ice-cream and it was a painter according to the president, i am sure he was and the first lady used to bind books according to the story, she had menial jobs that didn't pay much. they want to inflict that on their kids. you must be better equipped to answer than i am. you have multiple children. i don't want to give the exact number. your life never stays the same. there is a difference between working because you have no spending money and have to pay for insurance and pay for college as opposed to almost pseudo working, pretending to work and want my paycheck but don't need my paycheck. you will be showing up with ten secret service agents, i will get the vanilla in the back. just hand it to mr. and mrs. johnson. stuart: i want to lay down a principle that all youngsters

should work whenever and however possible. >> those two won't ever do a minimum-wage job with secret service agents. stuart: that is true. wait a second. a mug shot of a california guy arrested this week, apparently winning all of the world, drooling all over this guy because they say he is good-looking day. >> this is the facebook, youtube, twitter foundation. women love bad boys. once he gets out of jail or prison after a few years, he will have a modeling contract. >> if you want to attract a woman failed background check. >> women love that. you don't think he is good-looking? come on. stuart: no comment on this. your take on the entire program. get that off. that is next. there you go. i ys say be thman with the plan

but with less ergy, moodiness, i had to do something.

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>> they would have said we would love to comply, but we lost our e-mail. stuart: there you have it. responding to what the irs said earlier this morning. you had something to say also. we don't want a politician. we want people in jail. howard says he is, in effect, ceo of the irs. he needs to own up for the transgressions of the agency, and to correct all of them. >> i want to get to the answers. this is the opportunity to talk

to the guy that knows the answers. stuart: you have to put him on the hot seat and make him feel the pressure. >> they will go in front of the senate committee. >> you saw the response to paul ryan. i do not think they will get any information out of him on monday. he has had months to prepare. stuart: those e-mails that were supposedly lost are somewhere on some server somewhere. why is it that the irs or the attorney general of the united states is not going to get them right now? >> i am not sure. we do know one thing, throw out the hard drive. can you imagine if our help desk did that. stuart varney just tossed that computer. i am tired of coming to your

office. [laughter] >> it is the irs. the bigger conversation, this is about the 2012 election. that will be the next line of questioning. stuart: thank you, everybody. our time is up. deirdre bolton. deirdre: the founder of vonage is here. the world does not need another smart phone, he says. other products under scrutiny. the big bats on brazil is paying off. it is friday. that means it is elevator pitch day. thirty seconds of moving elevator. three pick investors. in the meantime, at&t, verizon, sprint, t-mobile, the major