tv MONEY With Melissa Francis FOX Business June 27, 2014 2:00pm-3:01pm EDT
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a tornado or something, it is terrible for you. but if not, it is great for you. cheryl: jeff flock, of course out live in mchenry, illinois, doing what nobody else can do, but give us the real story. jeff flock, thank you very much. from corn and farming to lovely melissa francis is coming up right now with "money." melissa: love the transition. thank you, cheryl. coming housing boom pegged to get this, america's young adults, never mind the fact one in three still live with their parents and biggest week for ipos since 2006. but big-time tech investors still aren't happy. could this be a sign of the top? buyer beware, the one word that sells $40 billion worth of food each year around means absolutely nothing. and paying up for some will power. we'll introduce you to a company that will help you unplug for a price. because even when they say it's not it is always about money.
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economic realities hitting home for more than 40 million american families. a new study out of harvard university finding that 35% of u.s. households can't afford their current living situation. with me now, "the wall street journal"'s veronica dagher, editor of power trend profits. and dominic tavella of diversified financial. thanks to all of you for joining us. what that means their rent or their mortgage consumes 30% of their monthly income. this is huge. this is 40 million americans. for a lot of them it consumes 50%! veronica, this is a disaster. >> it is a disaster especially because more you spend on housing the less you have to spend on other things like consumer discretionary goods. that has larger effects to our economy. these people are spending so much on rent they can't be buying new cars or taking vacations. they just don't have money. melissa: a lot of problem has to do with the fact that incomes
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aren't growing, right, chris? >> absolutely. a lot of jobs, created but look at mix of those jobs, lower income jobs. not a lot of wage growth and inflation in food and energy, to your point, veronica, income will be tapped and so where are the people going to live. melissa: when you look at gdp print we saw this week and just a big pullback, a lot had to do with consumer spending. you're not spending on discretionary goods if you have this much of money going to rent and mortgage, right? >> not only that. tax consequence what is happened in the first quarter. people paying much higher taxes than they were before. paying much higher in cost of living issues and government says no cost of living. cost of housing gone through the roof. it depressed the average consumer what they can actually do. melissa: more fallout from barclays, alleged dark pool fraud. charlie gasparino first reported the story on "money." they're getting cold shoulder
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from firms like deutsche bank and royal bank of canada. this is interesting one. seems like dark pools, if you look at they may die their own death and if people a afraid of them and stay away from them. what do you think? >> you're absolutely right. you're understand what they allowed for large pools to trade very anonymously for people to move in and out. where there is lot of smoke there is fire. sec is investigating. what may be so safe may not be. melissa: veronica. >> they're called dark pools for a reason. melissa: for a reason. it is opposite of transparency. that is the whole point. >> that's right, yeah. a lot of firms stepping away from their connections to barclays right now. you know, there is pr component to this too. nobody wants to be associated with a firm that could be saying false things to investors. melissa: what is so appall about this, if it is true, dominic, charges on one hand they were saying they weren't allowing traders to have preference a step ahead of others at very same time they were doing
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exactly that within the dark pools. this is such a big knock on wall street. >> first this is not a small investor problem. this is really institutional. traders looking to do big block trades and not let the whole world know what they're doing. having said that they need credibility, a trust with the institution that they're doing it. that they're getting fair pricing. that trades are being done orderly and efficiently. when that doesn't happen the trust gets cut. melissa: but it does have to do with the small investor because this idea that wall street is rigged. as more and more of these stories come out. it make as little guy feel why in the world should i get involved and why should i invest? the stock market really thing gone up in the recovery. if you're on the sidelines because you're paranoid you really lost out. >> small investor out there trading 100 shares of facebook, this is not their world, okay? whether they should or shouldn't be trading -- melissa: keeps them away from investing at all, veronica. >> trust issue. they're more skeptical. they don't understand what a dark pool is. a lot of professionals don't understand what it is. a is more confusion and more
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skepticism. melissa: the federal government is set to auction off 17 billion worth of bitcoin today. this courtesy of the shuttered online market silk road. speaking of secrecy it is attracting some financial power players. veronica, this is interesting one. if they went ahead to put all this out on the open market, bitcoin it, would totally depress the price. >> yeah it would. interesting to see how the government handles this. not like selling confiscated they have veries from a -- chevys from a drug bust. how this plays out and investors, there were investor lists, potential bidder lists released. how that affects bidding will be interesting to watch. melissa: chris, are you watching this one? >> i'm watching it a little bit. why doesn't the government pull in currency trader or somebody in the know. melissa: i thought they were? they're not doing that? >> they're doing it in-house. we know they will not do well. how well they leaked this out is the question. >> what is interesting they confiscated bitcoins from criminal entity.
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criminals are figuring out the bitcoin is perfect tool to buy and sell assets without having trunk loads of 100-dollar bills. that probably more interesting, the government figured it out, criminals figure ited out this is perfect vehicle to trade value back and forth. >> absolutely. iphones hitting bargain bin at walmart. retailer pricing smartphone, rolling back to prices for $29. iphone 5-c, $29. you have to buy a two year contract, come on. amazing. >> really cheap. this is interesting because walmart is only applying for deal who come into their stores. at that i think this speaks to walmart really needing to drive traffic. they're losing out on foot traffic. they're doing pretty good online but they're trying to fay to how to get people in these huge stores and that is real issue. this might be a strategy to -- melissa: pretty smart shen, chris. >> two things. one i think it is smart for walmart to bring people in to get them to shop and smart for
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apple. remember the 5c was not a big volume device. a nice way to flush out all the inventory in the channel ahead of the iphone 6. melissa: to me it means apple has power to sell all across the price spectrum. it used to be really high cost phone and everybody couldn't afford it. >> we don't know, necessarily know that it is apple who is selling it for $29 through walmart. walmart could be buying phone and subsidizing it to bring people in, kind of a loss leader. >> i will take the opposite of this one. steve jobs must be turning in his grave. not only apple cutting-edge technology and armani and selling it on discount bin in walmart. takes some of the luster away from apple. i don't know. i think it takes the shine off. melissa: interesting. life on wall street proving no peace of cake for crumbs bakery. king of cupcakes will be dropped by nasdaq falling more than 08% in the past year.
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i don't know if you guys notice there, they're on every corner right now. they have 70 stores. 22 of which were open in the last year. there is one on my block. there is another cupcake store within the next block. how many cupcake stores do we need, chris. >> not that many apparently. you can go almost anywhere now and get cupcakes. go to starbucks and get cupcakes. melissa: big cupcakes. >> you can actually buy their cupcakes at bj's. this idea, this mystique, this great store, you walk into, now they have tarnished their brand. competitors are coming. melissa: is it warning, so we have this huge ipo rush going on right now. like it will be the biggest week since 2006. i remember when crumbs went public and i thought it was most ridiculous thing. how can you be a public company when all you do is sell cupcakes. is this warning to yo or all these other things. >> that is the point. maybe not everyone should go public. maybe not a good idea. >> look at starbucks. same theme. coffee instead of cupcake.
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they reinvented themselves, reinvented themselves and reend vicinitied themselves and expanded intelligently. this is single product. lots of competition. melissa: almost everybody needs a cup of coffee to get through the day. i don't need a cupcake. >> probably need it but shouldn't. melissa: i will lose my job. riding shotgun wedding. uber expanding its reach into marital bliss, bringing free full service weddings to some lucky couples tomorrow. so i thought, you know, uber is king, we'll do something within an hour. always have a gimmick on in order to promote themselves this one is really special. they say you need enough legal documents to get a marriage license with you, and will provide a notary and equaled officiant and things to handle the ceremony and all other acoutriments to go with it. >> i just got married. melissa: will they do on demand divorce. >> that might drive volume. melissa: i don't know.
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in vegas easy to get married proving you shouldn't most of the time. they make it too easy. maybe these guys are doing same thing. >> melissa, turn it back to you. melissa: okay. >> would you say nothing says romance like uber? [laughter] melissa: i don't know. quickie wedding, very romantic. >> uber has done a lot of these kind of gimmicks, right? a hello of a lot cheaper than hiring a park avenue advertising firm. lots of pr. get the nail out there. fabulous. we laugh about it. good stuff. melissa: you guys were fantastic. thank you so much. coming up the great band of china. why hillary clinton's new book won't hit best-seller's list in shanghai anytime soon. consumer sentiment is on the rice but will feelings be enough to beat what lies beneath? "money" hard truth coming up. ♪
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doug holtz-eakin. doug, i let you go first because you're on the road there. consumer sentiment rising higher today. the consumer is what was missing from the gdp report. consumer spending was very weak. that is one reason we saw the big contraction of the does this mean things are about to get better? >> i don't think so. if you look inside the numbers, they're happier about what is going on right now but not more confident about the future. if you look at monthly data, the seen past two months, first two months of second quarter, real declines in personal consumption expenditures there is not a lot to suggest that the households will pick up the economy and carry it. melissa: charlie i laugh at consumer sentiment numbers. it is asking people what they will do. not what they're actually doing. how you are feeling. >> what they might do in the future maybe, possibly. i would just say this. i think the negative gdp print was somewhat of an aberration. i don't think we're in a recession. melissa: certainly looks like rest of the year --
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>> not saying it is good. one thing about the obama economy. we've seen this one before, where you have a blip up in gdp you have a blip up in consumer confidence. and then you get a blip down and really have very, very little economic growth. melissa: all nets out to just standing still. that's right. >> charlie, may i point something out? melissa: yeah. >> here is the thing, charlie. with the first quarter we got, would have to go to 3.7% for every quarter rest of the year to hit 2% for the year. >> okay. >> never seen that in this presidency. melissa: veronica, on horizon we have specter of potential inflation. james bullard on fox here earlier this week, saying it will be hotter than we thought. consumers going to the store feel it is hotter every day. is that a real threat, inflation? >> it is. go to the grocery store, things cost more than they did a couple months ago. i think that is a real issue. look at personal spending numbers we got for may. if you adjust for inflation,
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those numbers actually went down. between that and people's fears about the economy, still seeing their neighbors without a job for a long time, people are underemployed. they're afraid to spend. we'll see savings rates continue to go up until we feel more secure. i don't know what it will make to feel more secure. melissa: doug you say we have to be above 3% rest of the year in order to even out to something. what do you think will happen rest of the year. >> what this economy has gone on rest of the year. >> 2%, that there is no evidence they will change their behavior. they don't have the income or sentiment to do it. businesses are the wildcard. if they somehow get an animal spirits go with big cap-ex expansion we could get a good year but i don't see that, charlie. >> i agree with you. if you're talking about 2% growth. >> i am. >> and you're talking about inflation in certain sectors where the fed has to raise rates, we're headed for recession. hillary clinton runs for office. if she runs in 2015, 2016, she
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is very possible, that she runs in the middle of an economic downturn. melissa: always make the point, charlie, only one getting rich in the economy are people in the market. that is what all the fed work has done, stimulate the stock market. ironic, policies out of washington helped the 1% who they say they hate. very interesting. thanks for joining us. from the u.s. to every corner of globe money is flying around the world starting in germany which canceled a contract with verizon on fears the u.s. is spying on them. goes back to documents leaked by edward snowden which revealed we had eavesdropping on calls made by chancellor angela merkel. you remember that, right? germans were not amused by that, as the u.s. still refuses to agree with a no spy deal with the country. verizon now bearing brunt of that. it has been providing a communication network to the german government since 2010. over to japan which section porting square watermelons to
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grow throughout the globe. curious, look at that are grown in boxes from a very young age. sound cruel. which forces them to into the cube-like shape. they weigh 13-pound a apiece. look at them. well, i think about it, no, no. now they are making way to fruit stand in canada. they doesn't come cheap. one sold in moskow last year went more thanhundred bucks. juicy profits indeed. landing in china where hillary clinton is getting a cold shoulder by officials. publishers there say they will not be purchasing the translation rights to her new book. local agencies have banned the english language version from being impoured. >> yeah. melissa: there are a few parts of book where she is somewhat critical of chinese government. we saw that one coming, right? crying wolves of wall street. the hottest week for ipos in years and still not enough for some tech heavyweights. that picture will come back to haunt that guy.
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where are we? this is where we bring together the fastest internet and the best in entertainment. we call it the x1 entertainment operating system. it looks like the future! he has a phaser! it's not a phaser! it's my phone! he can use his voice to control the tv. you can use your woice? my voice. your woice. my voice. "vuh," voice. his voice. your woice? look. watch sci-fi. [ female announcer ] the x1 entertainment operating system, only from xfinity. melissa: hold on tight. shares of adventure camera maker gopro powering higher in the second day of trading. ashley webster on floor of new york stock exchange. even higher today, melissa. >> they should crash one of those on the stock, mostly up. the price was set at $24. it schott up yesterday. look at this, it went above the $40 mark briefly before coming
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back down, still up 17%. what else would you expect from this a den lynn play on gopro. melissa: absolutely, still, michael's not looking like masterpiece on return to the market? >> no, tale of two ipos. although that said, michael's pricing at $1, debuting on nasdaq. cale out very slowly. went down below. ipo price. inched its way up, showing positive signs, up 3/4 is of a percent. they also own the aaron brothers chain as well. so they go public finally. up about 17, 14 cents above the share price that was listed. so, a slow but steady start i guess we'll call it. no gopro. melissa: ashley, thanks so much. the market wrapping up its biggest week for ipos in eight years. big tech investors are not breaking out champagne. they're crying how hard it is to
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go public. somewhere a lone violin plays for them. charlie is back, and scott martin from united advisors and jonathan hoenig from capitalist pig hedge fund. they're both fox news contributors. week of endless ipos. still marc andreessen out there comes across i'm complaining about how hard it is to be public. of course the answer is, you just need to suck it up. poor ipo guys getting out there making a fortune. jonathan, ridiculous. >> we should be happy they're getting out there making a fortune, melissa. should be happy deals are getting done and being priced. i don't think this is the death of ipo market at you will. it was a extremely busy week for ipos. you know the death comes when ipos coming public and falling flat. melissa: i know -- >> in 2000. melissa: i don't think so much the death of ipo. i think it is more of a sign of the top. you have a zillion coming out. the most in what, eight years. you have people complaining how hard it is when everyone is doing it.
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how hard could it be? what do you think? >> you're right, everybody is doing it. here's the thing, melissa. andreessen is complain about pricing more than anything. talking about back in the '90s with netscape and other companies coming out at two billion valuation was kind of status quo. now you have got companies like uber, in 17 billion-dollar range. even pinterest is somewhere between five and six billion. here is the funny thing. gopro is around 3 billion but the stock is up guy began i cannily because probably too cheap. jonathan said i will never disagree with somebody in a sear suck irsuit. that is why the prices are going up. melissa: charlie. >> i'm not write sure what andreessen is complaining about. is complaining about regulations. melissa: the companies there is such a microscope on you. much every part of the business ends up being connected and ties back to pricing and morale. >> too bad, pal. you want to be a public company, you will have regulations you
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have to follow. i will say this though. listen, it is great that they're coming public. we should point out nasdaq has been overshadowed. this has been overshadowed. nasdaq has done 100 tech ipos past year. melissa: amazing. >> you know, they didn't win the alibaba one but they won some other ones. ashley on the floor of the new york stock exchange. nasdaq won gopro, right? you guys can jump in. let me make this point, jonathan. when you get numbers like this you're getting close to a top. melissa: jonathan, last comment, go ahead. >> charlie has been calling for a couple weeks or months now. you say boo-hoo. >> months. >> think back to before sarbanes-oxley. it has been harder and harder for small companies to raise money. why now some of them are using jobs act to raise money. because those regulations are so extensive. melissa: we have to go. you guys can keep fighting in the break.
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this is intensifying. >> a pleasure to be here, the situation is intensifying. if you look at is the snapshot, it looks like crisis is culminating this massive intensive. if you're looking at what they have been doing the past two years they have been building with this. they have done all the small building blocks they need to organize their terrorist state and using that to attack the government in mosul and taking of western desert areas of iraq that used to be dominated by the sunni fried. the question is is that iraqi security force going to respond to this? so far the answer is no. melissa: is not just iraq but the entire region being sucked into this conflict. look at the white house proposing to train moderate syrian rebels, how do you identify a moderate syrian rebels? >> speaking of how many countries, let's do the count,
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syria was involved, and they are considering those. lebanon has perot and against a racist. iran by sending the drones into iraq will shoot against them. how will we identify the market? we're five years leads, urging the demonstration since the arabs spring to do so in civil society. now it will be time to find a less islamist and jihadists on the ground, this is not something that will have a bright future. melissa: if everyone in the region is getting involved is that an argument for us to get involved or stand back? >> we have strategic interests in syria whether we want to acknowledge it or not the we have strategic interests in iraq whether we acknowledge it or not. it is easy to address the isolation argument, but in today's interconnected world is
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not possible. melissa: what are the interests? >> we do not want to see it organized in eastern or syrian western iraq where isis has the complete safety and if you look at what al qaeda had in afghanistan they had a safe haven as guests of the taliban. what they are organizing is a nation state where they are guests of nobody and behold and to no one. they can do whatever they want to. the arguments between isis and al qaeda, al qaeda saw how many fighters isis was attracting, you should use those guys right now to export terror back. isis said no. we will win the war here first and then have this cadres of several thousand battle hardened formerly trained terrorists going back to europe and north america with passports and terrorist attacks here. melissa: is realistic to think we can do something? >> could have, should have and continue to consider those
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situations. let me say this. if isis is not going to stop, they will carve up this piece of iraq and the aside of syria. large section of syria and put pressure on jordan across the border with saudi arabia, not going to stop there. end launching pad much stronger in the united states and the west. i would recommend we support the kurds in the north and mildly support the south in the situation. melissa: thanks for your expertise. we appreciate it. it seems to be easing somewhat, crude-oil prices are lower after two consecutive weeks of gains. let's go to andrew king at the cme. this is the dichotomy. you heard from the guests before you that this situation is getting much bigger, the whole region is being sold into it. at the same time, if traders get used to it as background noise,
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what is going on? >> we talk about it a couple times. a lot of the oil price factor in this the fact we haven't had a resolution, effective in the oil price over the last 12 trading days we have been stuck in a tight race between 105 and 108. i will look at the break out which is to the downside. if there is resolution overseas over the weekend, out we will see oil embracing 105, 101 in a heartbeat. or go to 120. the fact there isn't a resolution and they after day the price of oil goes cotter is not factoring that in. that is a fear to the downside. melissa: thank you so much. is a natural state of mind how food label using every antioxidants in the book to make your spending anything but organic. at the end of the day it is all about money.
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banks importing risky borrowers with $4 million in credit cards issued to, 4 million credit cards issued for sub prime borrowers. that is up around 40% from last year and is highest amount since the financial crisis. hundreds of residents met with a oil and gas regulators to ask if recent earthquakes were the results of drilling operations. many of them have urged the industry to start banning the wells they use to dispose of waste water with some suspect, seismic activity. that is the latest from the fox business network giving you the power to prosper.
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melissa: profits come naturally to brands catching in on the nutrition crazed but consumers getting wary of the labels on their groceries. turns out these healthy buzzwords sound great but they mean nothing. supermarket guru, natural labels when you see something labels natural, bring in $40 billion a year. the fda says there is no definition of natural. actually doesn't mean anything. i am outraged. are you outrage? >> no. because this is a 15-year-old spam we have been living with. this is nearly 70s. this is not something new. all those companies started
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using the word natural. and and it can't have artificial flavors. and when we see one of these products, we think it came out of the ground that way. melissa: really means those things because the fda says it doesn't mean anything and consumer reports is petitioning the fda to ban the word natural from labels because they are saying it doesn't guarantee anything. >> and it should be banned and there's no fda regulation that specifies that but fda from the web site and the regulations do specified that they will allow the word natural to be used under those three conditions if they are met some there isn't a rule, but there have been complaints where people have used those having added color
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for example and fda -- melissa: at the checkout counter there were fried potato chips that were there and a set of natural and for a moment on is like maybe these aren't so bad for you but the reality comes flooding back in and you know is a lot. university of houston found people are more likely to think foods with labels like organic and natural are healthy even when the food was candy or soda. is organic another one that is a fraud? >> there are certified organic regulations but when it comes to nutrition there is no difference between something that is organic and conventionally grown nutritionally. you can use pesticides with organics, that is something people don't realize but there are regulations in place so at least that is better than we think. we pay more for organic or natural. melissa: we do and at the same time people i shunning things that are frozen or in cans, just across the board even things like healthy choice, lean
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cuisine, struggling. now that people have this perception that natural and organic is better so they see something in the aisle. island we going to see these brands g >> absolutely not. in the face of konrad grow food you look at healthy choice, what they have done over the past few years has been dramatic to your point, people don't understand fresh and frozen what that really means. usda came out a couple years ago talking about their studies, lot of frozen products have more nutrients but con agra has reduced sodium. it limited ingredients, taking out ingredients, using apples instead. maria: melissa: i can to believe it is better, melting its way into hearts and arteries across the country, the wall street journal even calling better one of the great come back stories in u.s. food history, check out this
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chart showing the recent consumption decline of greecey margarine and the rise of delicious golden better. look at that spread. did it? look at that spread. what do you think? >> i love better. i think is delicious, one of those simple luxuries. >> for so long people said don't read it and now we can needed. why is it making a come back in your opinion? >> a couple things. one is taste certainly but also let's not forget everything julia child told us was true. use a little bit of butter, you will have flavor and it will cook better and that a lot of other artificial product. melissa: heading into the last hour of trading let's check with liz claman to see what she has coming up. liz: this is jam packed because as we go to the end element is the end of the month for the trading session.
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we are watching markets. and the wall street journal breaking news right and left on the grand jury that now has brand new evidence that does not look good for top executives of general motors. we are watching that but when we talk about the market's the best way to proceed going into the month of july we have a bond guide and equity guide talk about why each one feels the way they do about that. john miller, and billions in assets under management, close to 100 billion just to be exact and they are calling it the uber or the shares m for wine. you can photograph wine labels when you are at dinner or lunch or breakfast depending and it will put you into a database, you can order wine or do anything when it comes to, we have the founder and ceo, this is the most popular apps on
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itunes when it comes to that, food and wine, the best new apps in all categories. alex fishlynn is the ceo of delectable. melissa: i am downloading that the moment the show is over. it is friday. perfect. whether it is on wall street are mainstream here's who's making or losing money. anyone with a piece of dollar general or family dollar taking a hit today after dollar general ceo said, investors carl icahn to merge the two companies, shares for -- don't go feeling financial strains from all this. he has run 11 million shares of family dollar meaning he has already lost $16.5 million since this morning. i am telling you, hoping to make some money, employees stirring -- suing her boss over stressful daily commute, commute, a new jersey woman says rush-hour traffic has during to send depressed and management should
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have allowed her to come in a leader each day. some lawyers are demanding an unspecified amount in damages. i wonder she has ever been on the new york subway. still making money, everyone else is shown the door, will be goldberg, the oscar winner is the sole survivor of a major cleanup of the tv show of view. reports say talks broke out 3 new deals with former co-host cheri shepherd and jenny mccarthy leaving her as the last one at the table until the replacements are found. no wireless in the woods. tech addicts go cold turkey at digital detox cam. all of a sudden my cruise isn't sounding so bad. smart money on the way. ♪
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melissa: time for fun with spare change. putting down your phone can be hard to do, so much so that some are willing to pay to have it taken away. camp ground is an adult summer camp where people completely unplug. the by felix joins me now. why do i need a camp for this? can't put my phone in 4 for the weekend? >> of course you can put your phone away in a door and go camping but most people find when they go on vacation they spent a fourth of their vacation on e-mail or on their phone checking it. melissa: has anyone ever tried to cheat? what is the deal? you have the phones under your hat? >> no. actually i got a nice haircut when i was at camp last week, they decided to give me a bulkhead. cappers' show up and turn the
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devices into a safe. anything of value, locked up for four days and we never had anyone try to sneak out. melissa: why do i want to go to a camp and pay for this? 5 one detox i can put it to the side. people need to go somewhere and have it physically taken from them in order to do it? >> we are focused on the on plugging, it is what you are looking to reconnect with. there is he yoga, meditation, hiking, different arts and crafts programs, our jury, full on summer camp for adults. we trade space where people can put away their phones so they are not going to get work e-mail's for calls anywhere from 385 to 574 four days, we do all organic sustainable food. basically like a cruise ship but in the redwoods for four days and pretty amazing what happens.
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300 adults altogether, everyone is hanging out and singing together. melissa: i am about to go on a cruise and trying to think of which vacation on would rather do. no phones for this one. instead of e-mailing his resume look at what this guy did. he printed his resume on a pack of beer. graphic designer brendan gleeson started resumemail at the university of frazier valley in addition to his crafty labeling, he broods the beer himself, apparently the companies he sent it to drank up the idea. he says he got a few offers right away. what do you think of this? pretty clever. >> nice to see an entrepreneur. these don't often work. >> people sending the lins and flowers and kind of tacky but for a graphic designer he is showing talent. it is really creative. >> i heard someone wrapping up resume around a pineapple.
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put on coffee because it perks someone up. there you go. if there is one thing americans are great at in a world cup is the ability to lose a game and still get ahead. asking anything about the point system and how it works, listen to who is getting that hilariously and publicly wrong. at the end of the day it is all about money and a very complex forkeeping.
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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.
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cream now because of sadness. jonathan and scott are back with me now. i mean, they're trying to tweet and stay on top of it, but apparently they didn't realize we were still in. what do you think, jonathan? >> well, soccer is still just an unknown entity for so many of us here in the states, melissa, so i take the same approach that i do with stocks, you have to kind of go where the action is. melissa: yeah. >> call me when we're in the finals. >> oh, come on -- melissa: go ahead, scott. >> jonathan, don't make my come over there again. this is big for the country though. everybody is getting fired up about this. the sad thing about dennys, melissa, they didn't give out free food because the usa lost. melissa: i didn't really watch yesterday. i tried to, but apparently all of wall street did. volume of shares traded during the game yesterday, 25% lower than the same time as last year. scott, you were watching, yeah? were you trading or watching? >> i was definitely watching. and the funny thing is, you
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know, if you're at a restaurant watch how many people pile in there, and the second the game is over, it's like a stampede out the door. but it's good business for these restaurants. if you open up your business for some of these fans, you get people spending money, and i think it's good. melissa: absolutely, jonathan, i guess i wasn't alone not watching because even astronauts in space tuned in, american and german astronauts at the international space station celebrated their teams advancing with a little victory dancing. do we have that video? what do you think? jonathan, did you see this? >> oh, i didn't see that, but i'm not surprised. i mean, sporting events like this, melissa, give us the opportunity to come together for a shared experience and celebrate the good, the good for being the good, the heroic nature of these really incredible athletes who are able to run for i don't know how long, how hard, their endurance is remarkable. so the fact that we can all get together and cheer, a positive thing. melissa: absolutely. gentlemen, thanks to both of you. happy friday to everyone out there.
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i don't know about you, but these guys here in the studio are ready to get the weekend started, right, guys? yeah! [cheers and applause] all right, "countdown" starts right now. ♪ ♪ liz: will we see another down week despite stronger-than-expected consumer confidence numbers? are the markets on track for an extended pullback or to break out again? who's really to blame? new documents in gm's bungled recall raise questions about who knew what about the ignition defects and whether one of the key edge neithers at the center of -- engineers at the center of the investigation may have tried to push for design changes but was ignored. and keeping investments liquid, whether for investing or drinking, there's money in wine, but isn't it an insider's game? we talk to an insider with one snap photo of the wine label. the ceo behind the shazam for wine joins us. raise your glass, the friday
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