tv Cavuto FOX Business July 1, 2014 8:00pm-9:01pm EDT
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neil:lpxdlp theçó dow inching cr to dojf this 70,000 setting records onw3xd the databases so investors are feeling confidentñiñrlp butñii] average americans?ñi not so much. welcome, everybody. i am neil cavuto. get ready for early fireworks becauset( while the stocks are shooting upfá showingxdfát( americans are fird upoklp watching themjfxdçó. we could3 not believe it. we commissionedçóñrñi toxdñiqçót what is if going on.
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>> neil: that does not die if with wall street on fire. >> no. it is not helping so full of numbers. the rich are getting richer clearly so the economy is getting better it is just not where it should be but i think your question is could who is this person to rise out of the ashes? i agree. it is a great premise but i don't know who that is. look at the use that a vote for obama and now what will they do? they will not vote at all we've voters voted with their heads and not their hearts. neil: you touched on it
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we're not off to the races but may be as young as you that if you are just so used to that you don't know anything better. so does that make young people so jaded? is that why they don't buy a market? they don't trust leaders they see what is going on at the veterans administration? because here is our real world. >> the same people are part of the reason why my generation does not trust the stock market. it was demonize. maybe justifiably so but it really did scare a lot of my generation. my friends were hesitant to get into this we have to put money away. neil: do they not get fox business? >> they are slow. [laughter]
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neil: we go with a country that just does not trust power structure if it treats our veterans this way what does that say about health care for all of us? >> we have a president has sold us the idea to provide 18 percent of the economy. so now we see the of v.a. crashing down with 40 dead veterans but you told us you could fix this. it is remarkable hypocrisy it is hypocritical. neil: i think people are very forgiving. but my point is it is such a of a big deal to say that i screwed up messed up. if the president said that
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early on that this is on the air related thank you can have your doctor and keep your doctor and my staff warned me but i will fix it just like it is on republicans to say we talk a good game but we will correct it to say we are spending pollex but no one does that. so that adds to the cynicism >> right. because of pride there is too much pride in politics the true heart felt sincere apology comes with a real change of course, as well as the president wants to say yes i acknowledge obamacare has been a disaster than he would have to do something about it or change direction and significantly. it is a change in direction.
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>> this administration or other members of congress know they knows a good to blame because there's so much finger-pointing asking the people who is to blame but i hope they do take it to the polls in recent elections we have not seen that happen. neil: thank you very much. she loves coming here. not really. [laughter] coming up, russia? not humiliating enough but now looking at our power grid and not even disguising the fact that they're looking at our power grid. after this.
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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 that's not a coincidence. it's one more part of our commitment to america. 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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control its remotely. i am kind of overstating it but not how big a risk this could be to us. how big of a deal is this? >> how are you doing? is a real big deal but we understand the gravity how simple this is for them to penetrate our outer wall. neil: do you get a sense they do this to rattle us or they do have the ability what would they be able to do? >> this is criminal penetration and testing that al qaeda used on an 11. -- 9/11 to determineo we are vulnerable.
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and it this is relatively simple but we have not gather that yet. neil: how vulnerable deducing we are? 7:00 at a group of people better brilliant that have all the time in the world to examine the of vulnerability there is a good theory that any state actors associate with a certain end country is possible because they are focused more on the infrastructure wear out of state actors were organized crime or money. neil: if you don't mind it to just stay there, we have scott martin here. it is scary stuff but we have seen utilities and keep power stations hit.
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repeated the. it does not take much to bring down the entire bridge >> we're talking refineries refineries, of banks comair traffic control, satellites and russia is known for this there were rushing in criminals i think it was the government in 2007 in georgia cyberattacks and they are known for this. neil: and in the middle of the day it connected with the midwest. that gets to be a big deal. >> your right. it is scary but uncomfortable with the reality that they could take
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over our power grid we take for granted to have easily accessible affordable energy around us but the production of that and the delivery to was something we a need for everyday life so to imagine somebody could attack us in this way is unsettling. neil: but use that disruption and that structure is compromised. >> just like those issues and we are blaming russia touchier and china is across hairs but these are hopper's without borders. there is a lot of ways to route to the technology to make it looks like it is coming from warehouse -- from somewhere.
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look at a few months back those officials to win dight for stealing trade secrets but we have not seen any heads roll all of that. now we will resume talks is in a couple of weeks. >> how could this go down god forbid if it were? >>. >> it could be china, north korea, and pointing in a different direction and. that is how we are known to attack. neil: that leads to another. >> basically to take complete ownership. so they could get into control its remotely. you can talk about traffic lights or computers inside vehicles a there is no end
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but we need to wake up and find out this is real. we will face problems we're not prepared for. neil: is in the meantime ken feinberg seems to signal the troubles are far from over. >> of problem - - program like this is to have a voluntary alternative to years of litigation and it is an individual choice. we're moving our company to new york state. the numbers are impressive. over 400,000 new private sector jobs...
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out but how much? telling me is not out of the woods just yet. >> it is purely voluntary. second. neil: but if they do? >> they don't have to make that decision until they know exactly how the claim will be treated and how much money they will receive. neil: they can go into a the process to not give away all of the legal options then they make the election to take the funds did release litigation rates or opt out and into the lawsuit i have some victims every said that is not the case?
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>> we have asked them to reopen the case. neil: schaede died in 2010 because of the ignition issue the car went out of control but they are not eligible? >> gm says they will not pay them eddie more money or open up the of lawsuits is and they just want their day in court they said we would not allow you. neil: has it been paid out already? >> yes. it is confidential but feinberg says this guy is the limit for any deals that could come up the proviso is you cannot go outside after that but you say it is not quite that? >> not for a them but for the other victims? >> and in his defense he
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said if you settled your case before we will allow you to pursue your claim there is just a of amounts due set off they just treat them differently. neil: are there many in their camp the maiden flight into agreements or settlements? >> no. as far as the people in the plan that had cases they can pursue the plan the meltons are different. clients were not pursued the planu=óh. i will see at this point the clients will submit but may also pursue lawsuits so the award is not enough for her period then they can pursue the blister feinberg has the authority to save the defect in did not cause your accident.
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neil: he could sharply limit that just like the oil spill just like the fishermen of the gulf said no. so let me ask you this. do you think gm has of weird double standard legal policy? to say that if you go outside the company bankruptcy protects us? that these events occurred prior to bankruptcy? >> mr. feinberg says you can opt in or out which is appropriate but up intel now if you opt out we will assert all the procedural defense says that we have and assert statutes of limitations for those people did not pursue their claims because of the cover-up that
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we should benefit by the claims not going forward because they were not pursued in a timely manner. neil: you have until the end of this year. >> for the plea of not the lawsuit. neil: they're making sure that you don't. >> they want people to submit to the plan. neil: is there of risk? he has full discretion? >> areas of risk to the plan because he said i will only provide compensation if there is a punitive case it is this case. >> did he also factors in effect said year-old girl has a brain injury and compromise for the rest of her life they will get more they'll of the us 70
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year-old who dies. >> we agree his plan is good to provide for individual circumstances and gives him the discretion so that is appropriate to than people can listen and decided they want to take his award but they ought to be able to pursue claims in a court if they choose to and gm says not so fast. neil: is this getting out of control? 8 million cars recalled? and 30 million cars recalled now? this could kill gm. >> is a festering wounds that in the meltons case when they conducted the initial recall they said we will not hire more investigators debate investigated decades past to find out it was a thick
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corporate culture. they would pass the buck. with all these defects that came out yesterday to give you an example last week we got a call from a 24 year-old man in a cadillac somebody cut him off he hits a tree and air bag does not deploy now yesterday the recall is announced. neil: this is not over by a long shot and ken feinberg said on this show it goes on and on. into lumber call payback over the nsa has american companies fearing for their own bottom line in and has them worried. ide you.
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neil: what is the german word for oh no you didn't? [laughter] angela merkel is upset when she heard reattaching her flawless but to sing but u.s. companies to do too much buying that one says now to our fox business all stars. this is like day electronic tit-for-tat. >> this is the big risk chickens are coming to roost now germany plays its card because they want to give him some asylum so that is the top thing. these companies are innocent victims with verizon, a google because the
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government to do this on their own if they did breaking point you to use the web site called healthcare.gov. they had the help of these companies said now they are affected if they might better not and that will hurt their business >> if they did that with the strong arm and the chickens are coming home to roost? >> it is sad to one u.s. firms to be competitive to see companies like to rise and get the contracts but now we see domestic companies in germany doing the contract but unfortunately they face disadvantage in the global marketplace because the corporate tax rates is too high. neil: to schaede to your brilliance of that tax rate. let the germans blowoff nobody is better than us and
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if you can find a french firm to inspire people as well as us good luck. >> i am sure a lot of governments are doing that. >> i felt outraged but it rests with edward snowden not only did he a dinner that but he hurt american companies we cannot eliminate the program the one time you hear me say the president acted responsibly unfortunately these companies are innocent victims. neil: and by the way that is worthy of a talk-show. [laughter] but they do protest too muchtlj for anyone to say i hope you feel proud of yourself.
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but now we are supposed to suffer for it? >> i hope you enjoy that cheeseburger. i was practically there because this is the world we live in and to win samsung comes out with the new phone with the new chip don't think apple just give now with that idea the day before. they all know what is going on a and the game that we play. neil: but we still play for the mistakes of the intrusive government but that shows an agency that is way out there. >>. >> you don't have to go there. >> this raises a lot of
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questions how these decisions are made at home and abroad but i do agree the government has spent far too intrusive. >> bantus talk about facebook for those that were getting creepy but now getting very creepy. thank you daddy for defending our country. thank you for your 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,
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it took 700,000 to get to the bottom of that but now we find out they are lab rats but facebook users did not sign up to the lab rats and why is that? >> when users sign up for facebook they signed an agreement to allow them to conduct research. neil: how do they know? just by what their postings? >> you have an agreement with facebook you should be responsible to me that. neil: it does say lab rats? >> but it is allowed to conduct research and you do not have the unbiased news feed. neil: interesting. so then people look at this to say i didn't know that i
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signed up for this i did not obeyed the agreement. >> exactly. that is my point to the terms of use agreement i think it is over 22 pages pages, fine print, legal mumbo jumbo. neil: the you continue to use it and sign off seven magna of that made dash and if we do we don't understand it because understand the terms of use. >> how about getting informed consent? have about treating these people like lab rats to steady or monitor tell them about the steady and allow them to opt out. >> are there no consequences? >> you say if there are no consequences for those users
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what is the big deal? >> people signed up for their own risk just like when you search on the web you go to what i addressed and it will pop up. neil: that is weird to. >> that is what it is all about. welcome to social media. neil: so then don't use it? >> user be where. >> but that we have to surrender everything to be on nine? to make it is a private company. neil: know which is not. it is a public company. >> but it is not given in federal funds so different rules apply. >> regardless you could agree it is a problem when those are responsible said ... this is probably a
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mistake we should not have done this. >> but then things start to get negative. >> they we're doing this because of people getting her reading the comments they don't want to lose accusers who make -- you might log off because of that. and if this was the scientific study we would get informed consent you cannot consent to something that you don't know about. neil: did you have to be a willing participant? >>q that is what they do.
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>> as a result of people posting positive things and other people feeling negative because they saw their amazing lives. they want to use the it people post positive things will have positive results? positivity leads to more positivity. [laughter] >> eight you both very much. is one of staying on the ground. conquering the world lies some protesters say it is time to put them out of their misery. five of you for $. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share.
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neil: i think we should play the angela merkel segment in germany because looking to take off to connect customers worldwide that car service application has no feeling somewhere they're looking to block them? >> i think this is great to. i am the of uber user myself and has a better way to do something called creative destruction it happens in all industries they take the place of traditional taxis sometimes they share them market but the taxis do not like it. they do not like the competition. neil: can i booked my own helicopter? >> i'm sure. i like this new entrants into the market and very
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rare they well i a'' kasten culture but he said the attempt to outlaw the of companies mafia so why stifle out to private enterprise? >> you are quoting dash stand crutcher? [laughter] >> i wonder where the protesters say it is the safety issue. stealing jobs away now is another when they are up in that air. cahan there's a safety issue ? >> it is scary to have these things flying over our head that is of'' from mila kuis. [laughter] >> but another company said lawmakers alike them by several billion so if consumers stop consuming
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because i also was loved uber headaches begin they nipped added a bit by bit to drag it down. is that what we are witnessing? >>. >> remember amazon had a delivery system in 30 minutes? yes sometimes lawmakers have to figure out how we will regulate or permit the driver's those that take them around we can figure it out but that doesn't mean to stop the of great new idea. neil: and sometimes they steal patterns that you cannot do that.
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is there any issue like that here? >> just outraged from public end to employees so that the new york city's taxi commission raising fares by 17 percent that hurts consumers. they need reprieving and it uber brings that. it frees up the market. neil: to step back the disconnectik in the markets and what has been happening with the underlying economy. you do this for a living to say traditionally climb a wall? >> the more people that you hear the don't believe in the market them more reason you should bet at some point the chickens will come home to roost and the economy slowly gets better so that helps the market steve stabler they are right now. >> the people in the white
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house immediately let me know if we're so anti-capitalist than why has the market more than doubled under the stewardship? >> our economy has bifurcated will also see very low labor force participation it is hard for people who have been out of court for a long time 74 percent said they could leave the field and believe we are in a recession. neil: they are very larry. >> we still have double-digit unemployment hovering around 16% for young people. let's get the average american 1/5 no longer believes they are in the of middle-class that is the biggest statistic got people
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are hurting. neil: we found the perfect person to fix the v.a.. why are we tying his hands? 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. 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.
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when i went to the doctor his first question was "did you have chickenpox?" i thought it was something that, you know, old people got. . >> what is the deal with the former p&g guy taking over the va? i said bob mcdonald's background is perfect for the task at hand, if he is given a free hand at busting heads, he doesn't have the free hand. if he can't fire, they might as well fire him now, he's doomed to fail. i agree. mcdonald might be a nice guy but it has nothing to do with
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helping vets. it's about looking after customers, now veterans, never veer from that. p&g is about that, remembering your base, remembering your customer. remember, this was the company that famously came up with the line, the customer's always right. let's hope mr. mcdonald applies the same standard to our vets. tom in cleveland, neil, you conveniently left out the fact mr. mcdonald left p&g in some controversy or unrest. i did not. i pointed out that mcdonald was criticized for sitting on corporate boards and proving a distraction for him. i elaborated in a special column i wrote for fox business site as well. so there! dan in california, what is the deal neil, if you are a vet, it takes weeks and months for health care that president obama said he would fix six years ago, if you are an illegal, obama gets you health care and a lawyer within 24 hours. not quite, you see where you're
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coming from, he seems to move more quickly on the illegals than our vets. they're used to calling the shots, in washington they end up getting shot. you're quite right about that, barb, i suspect nothing changes for mr. mcdonald. as i said, he doesn't have the power. cliff writes, did i hear you say this guy should come in and do whatever the hell he wants to start firing people and leading in mutiny, even though he doesn't have the authority to do so, really? yes, really. times awasting, vets are dying, anyone who disagrees, start suing, america will have his back. neil, keep telling it like it is and let the self-arrogant jack asses choke on it. bring it down a not here. ken proved my point when we
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chatted on the show and reminded me that he and he alone sets compensation limits, no payment. if the payments get out of hand, no gm? victor writes i work at gm, i'm sending out resumes after watching your interview. feinberg seems like a decent enough time, i don't think he'd bite the hand that feeds his firm. you don't know him that well. why am i thinking feinberg is in too much of a rush. nefarious characters can get into that, and when ken was overseeing the $20 billion bp oil disaster fund and many failed. claire writes, how convenient of you to leave out his compensation arrangement with gm. how convenient of you to not know that i did try. he made clear it's similar to bp services and how firm was paid. i think a few million bucks, a
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fraction of the $20 billion plus bp fund to which he was in charge. what would mr. feinberg due if gm was toyota? band from the usa. nobody died with the toyota bs. in fact, people did die in the toyota case that you mentioned. at least 33 deaths were ultimately tied to gas pedal issues dating back to 2000. and talk about not length go, wayne in texas, i'm sorry, neil, every time i try to watch you, my thoughts harken back to seeing the way you bullied and disrespected michele bachmann. it turns my stomach, i considered you a bright, reasonable nice guy, you are probably bright, but reasonable and nice you are not. after ten years of watching you, i can't stand you anymore. bye. what a vindictive thin skinned friend you are.
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one doesn't suit your fansly and you give me the boot. have a lovely night. we will see you tomorrow. . kennedy: it's so weird to declare a war on women when there are wars claims human lives all over the world. the hobby lobby supreme court decision launched a pr war where any supreme court justice who dares disagrees with the leftist narrative is committing femmoicide. if employer isn't coerced in birth control which should be over the count you're going to do nothing but lie back, stare at the ceiling and get pregnant in the responses are laughable and political, and toxic, and weak. birth control is about restraining magnetic gammys which requires
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