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tv   Varney Company  FOX Business  July 28, 2014 11:00am-1:01pm EDT

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up 10%, zillow down 4.5%. broader market under some selling pressure after the news on top housing has come out. it really set set the tone for e market. time for stuart varney and "varney & company." stuart: think very much, indeed. and interesting paul to kic kicf monday, do you have buyers remorse? 53% in a cnn poll with now both for mitt romney. 44% for barack obama. it makes no difference to your money at all but it did get your attention. a full-court press to stop companies fleeing abroad for lower taxes. pay your fair share, be patriotic. political posturing? yes, it is, with the election four months away. we will find out if we're on the road to recession. gdp and jobs numbers on the way. and "the new york times" want full, federal legalization for
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marijuana. "varney & company" is about to begin. ♪ stuart: i'm going to start with what i am calling a classic case of politics over policy. the fight over companies fleeing abroad to high taxes at home. jack lew writing in "the washington post," the system has become full of inefficiencies and special interest loopholes. that is why it is so important we reform our business tax code to make the u.s. economy more competitive and accelerate economic growth and job creati creation. now listen to what president obama said on the same subject over the weekend. >> corporate profits are as high as ever, a small, but growing group of corporations are fleeing the country to get out of paying taxes. they're keeping most of the
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business inside the united states, but busily renouncing their citizenship and declaring they are based someplace else to avoid paying their fair share. stuart: their fair share. what do you think grover norquist would say about this? grover is with us, so we will find out. you heard that sound bite. here's what i think. i say there isn't a hope, there isn't a prayer there will be any kind of tax reform or fencing them in this year. this is a political ploy so the president can be deaf republicans and beat up business before the election. >> correct. remember, president obama had a super majority of democrats control of the senate and the house in all of 2009 and all of 2010. he could have passed any tax bill he wanted to, and he chose not to.
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he has been holding the needed corporate tax reform hostage, 35% of the top rate, plus an average of 5% state and local corporate business taxes, so americans can average 39% if you are an american company. overseas, just north of us 17.5%, in canada. it averages 25, obama gives a great speech but the only numbers in the speech are at the bottom of the pages. he should have pointed out leave tax businesses at 39% and europeans on average 25. where this matters, and we should go at least 225, that means 20 federal and five state and local. not 29 federal, but 25 total, just to be average with europe. why is average with europe our model?
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stuart: suppose we did that, 20% federal, add on 5% states. 25% corporate profits tax. $2.1 trillion o american profit money overseas, how much of that would come back here if we had 25% top tax rate? >> much of it because we have a worldwide tax system, if you are an american company and you do business all over the world, a big firm, we tax money you earn here inside unit states 35% federal but when you earn money in france or canada or britain, we take a look at what they tax, and we top it up to 35 if you want to bring it back. if you leave it over there, you can invest it over there. every second level of taxation, north korea and united states have worldwide tax systems.
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if you earn money in united states, we will tax you, that is their agreement. the tax increase obama is talking about american companies are trying to avoid is when they earn money in ireland or britain or germany or someplace else they are tax first by those countries and because of the american policy, we tax it aga again. we should go to a territorial tax system like the rest of the world taxing things done in the united states, not done overse overseas. stuart: the same old story, you're going to be demagogue in business on the grounds they are not paying their fair share. a rerun of the same of what we have seen the last six years. i put it to you, grover, it works. >> it is all politics but he is damaging the american economy and killing jobs because he has said i am not reforming the
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corporate income tax, which he admits needs to be reformed, he has been saying that for five years. hasn't done anything about it, but playing golf instead of doing this for five years. the reason he holds hostage is he said he will do corporate tax reform, sure, as long as the tax reform ends up with a trillion dollars 1.4 clean dollars tax increase over a decade. he wants the pain the american business community is feeling to get them to go to republicans and say go ahead and raise our taxes in a slightly less painful way. obama wants a trillion dollars, that is what he is holding us hostage for. you cannot reform the tax code to make america more competitive and stilcompetitive. take by force.
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stuart: we will take that. grover norquist, come again soon, thank you, sir. we are down not by much, you will see the market pretty much stable until we get word on the true state of the economy. down for the dow jones industrial average. the s&p 500 broader market indicated down the same amount, .3%, not much of a decline. now look at the 10-year treasu treasury, key interest rate parameter 2.48%. charles payne is with me this monday morning. i am going to ask you, play the under-over. come friday afternoon after we got the gdp number, after we get the jobs number, do you think the dow will be about 17,000 or below 17,000? >> that is a tough one. i think it might the above, but i started noticing cell on the
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news, that might anchor the market a little bi bit. building a little bit of a cash reserve. stuart: are we still going down the recession road? >charles: the home data has been very weak. stuart: no shortage of mergers these days. two deal deal to tell you abouts morning. why don't we start with zillow? nicole: zillow-trulia. all names, this is a big tie up, up almost 10%, down about 5%, so these two companies they put out on the website properties for sale, they may, at least in part by brokers who sign up for these websites so they can do their work on their be it the website has 85 million unique visitors,
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this is huge. stuart: the ceo of zillow coming up in the next hour. what is this one? nicole: dollar tree buying their rival, family dollar. they hit the same sort of mark market, a dollar or less, and the pennypinching company. everybody believes it is a good idea. carl icahn in activist investor and family dollar has been a big win. you can see family dollar up 22%. dollar tree up 4%. stuart: crises overseas. gaza first of all, israel told its troops not to fire unless
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fired upon. you can call that a fragile cease-fire in place right now. israel hit three targets inside gaza in response to iraq. move on to ukraine, russian separatists backe backup by rusn military fighting ukrainians did former century estate had a few things to say about the state of the world, take a look at this. >> there are a lot of things going on that need understanding and explanation, but to put it mildly, the world is a mess. stuart: kt mcfarland is with us now. now that is a democrat quoted by democratic presidents to be secretary of state who is now saying the world is a mess with a democrat in the white house, democrat administration, the world is a mess. who is to blame for this? >> a lot of people are to blame. but suck it up and stop whining.
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she should stop whining. the president should stop whining because we have been in a mess before, in recessions, world war i, world war ii, in the united states we have had the civil war. having such inability to come to any conclusion on the part of our politics. stuart: it seems to me like we are in retreat. as i understand it, iran has been supplying some of the weaponry and some of the money. precisely the same time they fire the rockets, iran wins an extension of negotiating, four months extension building more centrifuges and more uranium enriched. >> that is most important story of the middle east, which nobody is paying attention to. the cease-fire, hamas will win
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in the court of public opinion, but the real story we are not seeing because we are so distracted by this is iran's nuclear program. more centrifuges in iran than starbucks in america and the supreme leader iran says they want 10 times more and are not dismantling anything. continuing down the road of nuclear enrichment, and at the same time we have let up some of the sanctions and the market forces will take care of the west because people are lining up to do business with iran. stuart: i don't see how we come back. we are losing ground at the moment and i don't see how we make up that lost ground. >> i do think the next couple of years will be difficult because other countries will see a perceived weakness, they will decide this is our time if we seized territory, do it now.
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america will push for energy independence, who will develop oil and natural gas. with the middle east. we have leverage. >> we would have an economy that would boom because of the jobs bid we would have manufacturing renaissance, and then we go to the world and say do we really want to rely on middle east, al qaeda or russian oil? come to us. stuart: wouldn't that be nice? appreciate it. up next, dire predictions from a senior justice department official in a cyber attack that is coming. an official hacker will join us next to tell us what is being done to prevent that catastrop catastrophe. listen to this.
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stuart: big names nor hitting new highs. apple getting pretty close to $100 per share after the stock that it would be a $70 $700 stok again. chipotle building on gains 674 now. now look at mcdonald's. facing a shortage of beef and chicken in china. a shanghai meat supplier sold expired meat to fast food chains across the country. limited menu, the stock not reacting yet, but charles, i don't like the look of that because china, mcdonald's is big in china. charles: also affecting japan too bid they have reliable suppliers. we talked about china buying food companies bid one of the reasons is not to poison our food supply but to get a really good supply of steady food. then animals floating in in the water supply,-year-old chicken.
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stuart: want to go to the cyber security story we have talked about. targeting other retailers, but what about the big one as it is being called? it is clear the terrorist wants to use cyber means to cause the largest impact on our infrastructure. joining us, with red tiger security. you know all about cyber security, and you guys are holding a big conference i think it starts very soon, you are the good guys, you have for the good guys. do you have a plan to stop the big one before it happens? >> no, there is not a plan to
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place because our infrastructure is owned primarily by private sectors, there is possibility of securing the electric grid, oil and gas pipelines fall upon those asset owners and if you look at the way the u.s. is set up today, it is actually similar to what it looks like in 2001 with 9/11. we had fragmented government agencies without clear ownership of our physical and terror sta state, after 9/11 happened, we pulled together home and security. fast-forward 13 years later, we are in the same state now on the cyber basis. department of energy owns a pipelines and oil and gas, nuclear underneath nrc, and the electric grid. we have splintered ownership of cyber security, not any one particular government agency is looking out for the health of our cyber security infrastructure. stuart: would you say that infrastructure is at serious risk? >> i agree it is definitely a serious risk.
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what we're seeing is peopl place china, russia, they are constantly probing our infrastructure, the know-how toe critical info structure works, they are mapping missing out, we're finding root kits inside power plants. it is a matter of time before we have another big incidents that happens, it is definitely going to involve cyber. stuart: ho are they private enterprise, are you guys in touch with the private enterprise organizations, have you been inside them and seen what you are going to be dealing with? >> absolutely, yes. we have been to over 215 facilities around the world be at we send our own guys into these plans with steel toed boots and hardhats. what i can tell you is we are definitely worried because these systems are really outdated
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systems, not having the right defenses in place in terms of parameter protections. partly to blame because we don't have a clear mandate from the government in terms of th a cler set of cyber security standards. fortunately that's changed in february or march. stuart: now you are one of the good guy hackers, could you put on your black cat and go after the national grid? could you do it with a team of your top people, could you do it? >> we could take out a small sector of the u.s. but not detail u.s. power grid. stuart: relatively easily? >> it would take some time to map out the technologies in place, but given time and given a little bit of funding, it could definitely happen. stuart: six months, $10 million,
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could you do it? >> yes, definitely. stuart: three months, $5 million, could you do it? >> yes. stuart, up with a plan, please. thank you very much, indeed, s sir. america has a case of buyer's remorse? the majority of the country would vote for mitt romney over barack obama if the vote were today. we will analyze that in a mome moment.
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♪ >> russia, i indicated is a to political full. i run is the latest on the national security threats. after the election, he will get more backbone. stuart: that was mitt romney.
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they would now have robbed me over president obama if the election were held today. now, charles, actually, you look further into this pulling data. you found it. charles: a cnn poll. the same question was asked about romney and hillary clinton. mitt romney, what does that say about president obama? about some of the core voters. stuart: the takeout is very,
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very bad news for president obama. >> you are starting to see a lot of articles. the president has checked everyone is wondering. the criticism, the golf, the riders overreacting. this is ridiculous. stuart: the "new york times," it calls for legal puff at the federal level. the judge, believe it or not, he is under attack. the judge is next. ♪
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we never thought we'd be farming wind out here. it's not just building jobs here, it's helping our community. siemens location here has just received a major order of wind turbines. it puts a huge smile on my face. cause i'm like, 'this is what we do.' the fact that iowa is leading the way in wind energy, i'm so proud, like, it's just amazing.
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speed to time warner. prepare to offer seats on the board of a new company. charles, i think that came out this morning.
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charles: a minor sweeping. everyone's waiting to find out what the next dollar is. stuart: can you put time warner stock up there for a second? it should go of. we will see. $100 share, that is different. charles: absolutely. stuart: if google opened its mouth, that goes up. the "new york times" -- [laughter] the legalization of marijuana at the federal level.
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inflicting great harm on so psyd. just to prohibit a substance far less dangerous than alcohol. they should repeal the ban on medical marijuana. >> i still want legalization of marijuana. i read that story and that there was a word missing. i read it three times. it does not mention personal freedom. it has cost us more money than it saved. they are not making an argument about your right to do what you
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want to your own body. that is my argument. stuart: you libertarians say that the government may not do any policy attempt to affect personal behavior. >> the tax policy can affect it. that is not in the constitution. there was no profile. 3% was the marginal rate. it has been accepted as constitutional whether you like it or not. >> the "new york times" makes a very compelling case. people will continue to ingest what they want to and just when they know it is not harmful.
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the federal government's argument is based on the government wanting us to live a certain way. it takes the freedom of choice away from us. my argument is it is not the proper role for government. you want the government to tell us what is good in our bodies. stuart: you do not mind if state governments do that. >> i do mind. the federal government is not. the federal government get on. get out. >> if you want to live in a state where marijuana is legal, go there.
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you can vote with your feet. stuart: i am giving you the perfect opportunity to and on another rant. i want your take on jack lew. president obama using fair share language. page your fair share. >> that is what i would like to say to mr. lu. he and the democrats and he and the groups that they favor so well honestly believe that they are entitled to a share of what we earn. they can take it.
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stuart: i got what i asked for. can you, just for a second, take off your libertarian hat. you earn good money. you pay 15, 60% in your income and federal state taxes. what do you think would be a fair amount of money to be taken off of you? $1 million a day. can you do that? >> 60% is dangerous to the government. at some point, people will stop earning as much as they are earning. the government, for all the money it gives away, needs people to earn a lots of money so they can tax it. in my world -- i do not expect that world to come about tomorrow.
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what would be a happy compromise? it is a flat tax on the neighborhood of 15, 16, 17%. he has done the math. i have not. that is a number that is a lot more fair. stuart: i approve thoroughly. fewer young people getting married then ever before. we have a top divorce attorney with us. she is going to be on after the break. ♪ she inspires you.
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do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a free 30-tablet trial. charles: a moneymaking version of the business brief. resupplying the international space station. systems allowing for a greater
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low. oracle also 100% spinoff of their very successful sporting good segment. it seems to always be wall street. the top of fiscal period earning estimates have gone through the roof. a stock i think you want to ownp for the long term. ♪ anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again.
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stuart: bill for -- actually, we are starting with amazon. a new 3d printing store. amazon will print them out for you. ship them to your door. charles, is this a big breakthrough or what? charles: it kind of gets them in the game. stuart: a competitor to you by your own. charles: yeah. stuart: let's get to it. making big gains on its second day of trading.
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nicole. nicole: that is right. this is the crazy chicken is what it translates to. they can cook right in front of you. sort of the casual dining sector. it is doing incredibly well. it opened at $19. it crossed $32 today. right now, you can see it is continuing the momentum. on the contrary, continued that momentum forward. it really is a winner. it started at about 1980 in l.a. here it is now. stuart: i am just going to call it the crazy chicken.
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many women will remain unmarried by the age of 40. we have a divorce attorney who says her business has really gone up recently. she is here and she is the star of untying the knot. she joins us now. if they are not getting married, you cannot represent them in divorce court. >> i am waiting for these people to get smart and educated. stuart: i am taking this really seriously here. if millennial's are not getting married and you have a few million people not forming households, not having children
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-- that hits the economy. stuart: it hits the economy, it hits the demographic structure of the united states. >> i am a big supporter. i think you need to be educated and have the tools for a happy marriage. people are living together before they actually get. it is giving the economy the huge boost. maybe on the same level or out earn them. waiting to get married. as long as people are getting educated, i am okay with it. stuart: you are wearing a vast diamond on your ring finger. >> it is an allusion. stuart: it is not cubit
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zirconia, is it? >> no. [laughter] stuart: your business is good because of the reality show. >> i really think what is happening is there are two or three reasons why divorce is rising. number one, divorce is down. people can afford to get divorced. they were kind of locked. stuart: for real? the economy goes down. now the economy has come back. wealthier people have good jobs. they can afford to be divorced. >> yes. you know, you are kind of locked if you do not have the income to get divorced. that is really problematic.
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number two, real estate. there were reversals where people did not have value in the property so people wanted to sit on them. now people can go out and afford renting or buying. that is giving them free liquidity to get divorced. stuart: are you happy at your current situation. >> i am. stuart: you are selling your show. where'd you make more money, your show or george divorce practice? >> my divorce practice hands down. we have a billion-dollar industry. you have to tap into it. stuart: they are killing me in my ear. we have a heartbreak coming up. the sticking point in a deal to reform the va system. allowing some that's to go out of the system for their
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healthcare. can you say vouchers? we will reveal that next. ♪
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p2 a contentious point to revamp the da department. 40 miles away from the nearest va facility. let them go where they want to go. how about that. that's that the booklet is with us now. this is a serious proposal. if you live more than 40 miles away, you have the chance to walk away and go private. >> unfortunately, it is a phony fix. if you look at the details, here are the clincher's. first, you have to get a letter confirming that this was more than 40 miles from the closest da. good luck getting that letter.
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then, when they go to the civilian doctor for care, the dr. has to call up and get prior authorization before treatment. good luck getting anyone to answer that phone call. they are still captive of a dysfunctional group. stuart: they will not let it happen? >> according to the fine print, it makes it impossible. here is the reason. one of the key negotiators is chair of the committee. nine out of the donors are users. he is committed to the union power. the unions do not want this. most of this deal that will be
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announced today is money pouring into the va to hire more va doctors. so more va centers. all of that will not help vets that are currently languishing waiting for treatment. they need a medi-cal card. stuart: they need a voucher. >> all they need is a special red white and blue card to pick up their out of pocket expenses. they already have the coverage that they need. this could be in a budget neutral way. this union contract is standing in the way of the that's getting the care they need. stuart: we appreciate that. thank you.ica. you might say it has a bad case of buyers remorse. more reaction to the blockbuster poll.
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plus, tiger woods. he joins us. talking about the decline in golf. how do you get young people back in the game? who has the sweetest swing in the game? michelle obama calling novembers elections more important than the races involving her husband. then we have a weekend cruise lines. a 5-year-old son was diagnosed with cancer. we have a whole lot to go at in the second hour and we will. two minutes from now. ♪
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and see why 92% of our members plan to stay for life. ♪ ♪
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♪ ♪ create a better website at squarespace.com start your free trial today. ♪ stuart: all right, everybody. this is the recession, yes or no week. stocks will react to that. teams flooding the border. that is a little different. the first lady said 2012 is not the president last campaign.
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katie is with us. tv ratings down. how to bring the sport back. who has the perfect swing? the "new york times" is calling for federal legalized pot. they have an eye opening description of a cannabis wedding reception in colorado. ♪ stuart: look at that big board this monday morning. we are down 25. all the numbers coming out this week on that economy. charles payne says above. here is the s&p 500. where are we now? we are down ever so slightly. 1305. the price of oil $101 per
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barrel. been around this level for a couple of weeks. a couple of big deals we have for you, zillow buying trulia for two and a half billion. zillow stock is down, not much, but down. dollar tree wants to buy family dollar. you have to pay eight and a half billion. it seems as if americans are having buyers remorse when it comes to who they voted for. a new cnn poll. brazil's voters will back that romney over barack obama in a reelection rematch. president obama's lack of leadership on it. fox news contributor is with us. guy, i have watched this crisis unfold. the wording that the media uses
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and i have used is kids flooding across the border. children in need. i do not think that that is accurate. i think i know this, is it 91% of those people coming across the border now are teenagers? is that accurate? >> you know, stuart, i have looked at various numbers. they are all over the map. i have seen one statistic had it in the 50s. one in the 70s and one in the neighborhood that you are talking about. it is very clear. regardless of what the actual specifics are, there is a very high percentage of these children are better described as teenagers. stuart: is this a losing issue for republicans? republicans failed to pull out
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the wallet and pay for the children? they look bad and lose the hispanic vote, is that where we still are on this subject? >> i think that there are a lot of looting fights along this politically. i think that this is a very delicate, political situation. it is not just pure politics app play. you have these minors being housed in basically warehouses right now. just wards of the state in this indefinite scenario where we do not really know what is coming next for them. i am not sure if looking at it purely through a political lens is the right way to go about it. both parties are worried about the humanitarian aspect. also walking on egg shells because of some of the concerns
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that you just reference. stuart: what about the cnn poll? >> i think maybe it is time to break out the i vote for mitt bumper stickers. if you go a little deeper, you see why there is a genetic shift. among women, young voters and independent, the shift from obama towards romney was between 15 and 20 points.
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that romney has to be sitting somewhere thinking, i told you. i told you this was going to happen. barack obama was slogan is forward, but it should be forewarned. we know what is coming. >> with a poll like that, you may say that romney will make another run in 2016. >> he has said no about 1000 times. he says absolutely not. i am not putting my wife do that again. i am not running again. the rumors continue to swirl, regardless. you think you should run again? >> i think he is a good candidate. i think he is an amazing person. there are so many qualified
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talented engaging interesting people that are rumored to be running. i think the gop will have a strong feel with some very good options. it does not have to include that romney. stuart: thank you very much. >> thank you. stuart: big names and you know them. they are hitting new highs. nicole: apple and chokehold they looking good today. 98.39. that is really right near the high. chipolte is up. a new high therefore chokehold they. they jumped there quarterly profits. apple, what can i say about apple. continuing to wait for more
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products. a bigger screen so people will see that. also, the apple i watch. people are just so dedicated. they are so loyal to apple. they will just run and get it. 98.45 is now the new high on apple. stuart: $165 billion cash sitting around. all right. thank you very much, indeed. i want to go to larry levin in chicago. wednesday, we get the gdp numbers for the second quarter. on friday, it is the good jobs report. a big week for economic numbers. friday afternoon, is the dow industrial average above or
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below 17,000? >> i would say below 17,000. i am very concerned that janet gallant will not keep her mouth shut and she will keep talking more and more about interest rates. i think because of that, the market will take a little bit of a hit. it is kind of stagnant. i am a little bit concerned about that. stuart: okay. we will work it out. i want to move on to that big online real estate deal. zillow buying trulia. joining us now is spencer. he is a zillow ceo. thank you very much for joining us. we knew to get together, truly out and zillow, 89% of all traffic to real estate websites.
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some would call that a mere monopoly. what say you? >> i think that the right number is 48%. i even think that dramatically overstates the market score. there are 10 or 20,000 local real estate sites. they have a huge amount of audience. the right market share for zillow is about 4%. they have 4% of what real estate professionals spend on advertising each year. it is a very fragmented category. stuart: you are a big player. >> exactly. we are a media company. we sell ads, not houses.
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stuart: i just go on your website and i can look at any house. do i get a video to work? >> on any house you get a's estimate. we have information on every home in the country. stuart: you pay three and a half billion in stock for trulia. >> trulia brings us a great audience. and allows us to grow our audience. stuart: why is your stock down?
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>> it has adjusted to the exchange ratio. >> now you have the adjustment. stuart: congratulations, sir. you have it sewn up. we appreciate you being with us. thanks a lot. young people. giving up on golf. the sport is in decline. what does the pga need to do to get young people back. we have tiger woods former swing coach on the show. ♪ it's just amazing.
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stuart: a big name you know, tyson foods. they will get $600 million on those two items. tyson stock is up 4% because of that. stock is up 2%. the fight continues.
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companies fleeing to escape high taxes at home. the administration wants to change the law so they cannot leave. listen to what grover norquist had to say on the program last hour. >> the american economy and killing jobs. he has says said i am not killing the corporate income tax. he admits that rate is too high. he has been admitting he is playing golf instead of doing this for five years. stuart: elizabeth macdonald is with us. i say the president does not want to change the laws. you are not paying your fair share. vote for me. >> we stop these deserters from leaving the country.
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american companies are double taxed. one of the worst in the world. stuart: they could stop them from leaving the country without legislation. >> they do all the time. the treasury does it all the time. they are allowed to enforce the regulation. they do that with health reform. you just saw it last week. >> my point is the president wants to demagogue business. >> you do not have to get it
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through congress. stuart: just by tweaking the regulations, you will have a flood of companies doing it now. >> the administration say we did not take executive action. they do change the law. it will stop m&a activity called. it will stop the economic growth. it will finance the merger with loans. now, they may not be able to. you really would have companies leaving the united states.
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we will not have corporate tax reform. they are saying footloose multinationals willfully anyway. stuart: that is very interesting. golf is kind of an economic indicator. here is hank. you know a thing or two about young talent. you are a legend in golf. we are very happy to have you on the show today. stuart: what can you and the golf industry do to bring young people back into the game? >> it is an interesting problem. ted bishop is doing a lot of
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things. i think one of the big things is there are so many rules in golf. the dress code, the no cell phone policies. just making the game more fun and entertaining for people, i think, is a big thing. this generation that you are talking about, it will not go for all of these rules that we have in golf. stuart: i think that the market will respond. you cut the time by having nine-hole courses. you can probably do that. make it less expensive to play a nine-hole course. >> no dow about it. golf courses have a lot of inventory. they used to average 35,000 rounds of golf. you have capacity up to 45,000 rounds of golf.
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there is no reason for golf to be too expensive and for that to be an excuse. that is the real reason why they are not playing. stuart: what do you make of the much bigger holes? [laughter] my friend is a big advocate of that. >> it makes the game faster, like you are saying. people are likely to score better and want to play more. if golf was being invented today, it would be a different game. these are all interesting ideas to help make the game better and help get it going. stuart: i do not play golf, but
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i watch every weekend on tv. in my opinion, fred couples has the sweetest swing of all. do you agree with me? to me, that is just pure poetry. >> i know fred really well. one of the best to watch. incredibly athletic. he hits the ball forever. an incredible one to emulate. stuart: i am in my 60s. am i too old to develop even a passable swing? >> we can get you going. you are not too old at all. you are never too old. that is a great thing about golf. that is one of the advantages that golf has over any other sport. stuart: i agree entirely.
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everyone knows your name. thank you for coming by. >> thank you. stuart: the company's attitude towards legal marijuana. my take is after the break. ♪ ♪
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i voted for culture... ...with a 'k.' how are you? i voted for plausible deniability. i didn't kill her, david. and i voted for decisive military action. ♪ america, you cast your votes.
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now, go to xfinity on demand and select the people's hotlist to see this summer's top 100 shows and movies. i voted! stuart: first lady michelle obama says she and the president are not done campaigning calling a member's midterms the most important election of the obama presidency. we will also have norwegian cruise line's refusal to reimburse a family which had to cancel a cruise after their son was diagnosed with cancer. that is bad p.r. you want to change social policy? at first the new idea is impossible, no way you can do that, we are just not ready. and then attitude shifts a little and change becomes maybe we will do it. the debate opens up some more and maybe becomes likely.
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in a final stage the policy change becomes absolutely inevitable. impossible or mak may maybe liky inevitable. i see it shifting with legalized marijuana. i will not take sides on this one way or the other, but i am saying legalization at the federal, the national level is moving forward quickly. we're not quite at the inevitable stage, but to me it sure looks likely. get ready for a big new industry and america will dominate it. "the new york times" issued a full scale call for federal legalization in the sunday edition. that is important. "the times" does have cloud. that editorial will be read in the halls of power. the paper had a front-page spread on the trend towards serving pot at wedding receptions in newly legalized colorado. it is an eye-opener.
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marijuana bugs in the floral arrangement? baby marijuana plants? and the cake, the weed baked in. as they seem far-fetched. but the point is yes, it has arrived, and it is not going to be reversed. recreational use is going to spread and the times wants pot legal at the national level. we are at the likely stayed in getting close to be inevitable stage. two points, first this looks like a political opportunity, especially for a republican like rand paul. he has often said the governme government's controlling what is in your body, popular with many voters who traditionally vote democrat. second it is an economic opportunity, american companies are going to win this war. cannabis shows the different strains of pot, many of it grown in america from developments.
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i am saying full recreational legislation legalization i should say, full legalization at the federal level looks close to inevitable. i give it five years, and then we will see a mult multi-billion dollars industry paying a ton of money in tax. that is inevitable. what super poligrip does for me is it keeps the food out.
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before those little pieces would get in between my dentures and my gum and it was uncomfortable. [ male announcer ] just a few dabs is clinically proven to seal out more food particles. [ corrine ] super poligrip is part of my life now.
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stuart: you know how would like to talk about 3d printing? amazon has launched a 3d printing store where users can design 200 different products. it is an online store. amazon stock reacting not necessarily to this piece of news but down another five points today. took a big tumbled last week. that's like to make a push more course., trees and a light up the about the battle to protect national park. netflix at 423 right now. a growing list of products you are not buying anymore. liz macdonald here with the list.
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>> soda, bread, gum, cupcakes, chef boyardee, americans are not buying these items, america is no longer the chef boyardee place it used to be. not in any order. soda, gum. stuart: gum? >> they are afraid of their teeth being pulled out. and cupcakes. and white bread. that is the issue. even in france, white bread is down. stuart: chef boyardee? >> pasta in a can, people don't feel it is as healthy as they used to. i like chef boyardee. stuart: did you know i was born and raised on spam? stop laughing over there.
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when i was first born, britain still had rationing of food and we relied on spam coming over to england. >> in the required daily eating one of the food groups, spam, is that what you are saying? stuart: i like it. let the campaigning continue, please. first lady michelle obama backing her husband's latest string of fundraisers. she had this to say to crowds in chicago. make no mistake about it, his last campaign. 2012, last campaign is this year 2014 because the election in 2012 wasn't the change we sought, it was only the chance to make that change. she urged people in attendance to write big, fat checks. what change did she not get?
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change the health care system, change the economy, struck the middle class, tax the rich, what is it she hasn't yet gotten? >> she was very clear, michelle obama said they have not gotten the full takeover of society by the federal government. said we're going to work on immigration, reproduction rights, the minimum wage, forget what else they are going to do, in our pocketbooks, in our bedroom, what else is left? she told us as if the american people don't already know the president is more concerned with campaigning then dealing with our border crisis, the middle east falling apart, ukraine. we know, mr. president, this is your last campaign, apparently be at stuart: i keep coming back to the idea maybe it is a
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successful political ploy on the part of the president and the first lady. i don't think most americans care, i don't think most care about what is going on in ukraine, don't they care that much about overseas stuff, they care far more about getting the political line right, and i think the president for some people is getting that line right. >> he is. average american person doesn't care about what is going on in the world, they care about having a job and what is working a currently democratic national committee, they are bringing in money on president levels because of this rhetoric the president and michelle obama are throwing out there. the money is coming in like nobody's business. his approval ratings and his ability to govern are what, 40%, 41%, 42%? stuart: on the one hand he is bringing in a great deal of money as a fundraiser and a lot of democrats in localities won't
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go anywhere near it, they don't want their picture with barack obama at this point but nonetheless he is laying down the framework for a political approach to the november elections, which may actually be successful. >> he is bringing in the money. a lot of drivers of congress up for reelection over those democrats running for the first time i thing away from him but they will take his money. stuart: it is antibusiness, tax the rich, restructure america, that has been the line in 2012 and 2008. >> it will not create jobs which americans so desperately need. stuart: do you think voters care about the deficit? we'll talk about the deficit for years and years and years, 18 clean dollars, settling our grandchildren with debt, does
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that resonate in america? >> yes. they care about the deficit when they can't get jobs. this will be directly reflected on social security, medicare, people will care. stuart: do you think republicans are playing the other side of the coin well? >> no, not at all. finally we are seeing paul ryan and some other members of congress last week starts talking about a compassionate conservatism saying the reason we want reform welfare and these other programs is because we are going broke and we want you guys to have jobs. from paul ryan, then paul's message of opportunity. republicans are not seaso seizie day on that play republicans out there with that message to
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combat the war on women and all this other nonsense. stuart: if you get a big mack attack in china you may be out of luck. mcdonald's reporting a meat shortage in that country, it should last week's. that is not good for mcdonald's stock area did details after the break.
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crestor lowered bad cholesterol in it's a fact. high-risk patients more than lipitor. bad cholesterol... you're going down! yeah! lowering cholesterol is a big deal, especially if you have high cholesterol plus any of these risk factors, because you could be at increased risk for plaque buildup in your arteries over time. so, when diet and exercise aren't enough to lower cholesterol, adding crestor can help. i'm down with crestor! crestor is not right for everyone, like people with liver disease or women who are nursing, pregnant, or may become pregnant. tell your doctor about other medicines you're taking. call your doctor right away if you have muscle pain or weakness, feel unusually tired; have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. these could be signs of rare but serious side effects. are you down with crestor!? ask your doctor if crestor could help you. if you can't afford your medication, astrazeneca may be able to help.
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>> welcome back. rich america filing for ipo this morning. partially owned by richard branson. no word of a crisis here just yet they stated to debut later this year. rich american flights operate out of los angeles, san francisco. he recently went big to operate out of laguardia airport and d.c. national. a big move for another debut. jumping in trading today up big time, since it debuted this ye year. the trucks will be priced slightly higher than the best-selling steel version they have for sold this year. we have tons of data out this
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week. the real-time halftime report is up next.
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stuart: here we go, time for "the real halftime report." nicole petallides joining us, liz macdonald right here. tom, a big week for economic data. gdp wednesday, jobs friday, where do you think the dow ends friday afternoon above or below 17k? >> unfortunately below 17k.
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even if we get a very good jobs report, people are going to start looking ahead and say the fed is going to start to raise interest rates sooner than we thought, that is a big change what we have past several years, so good economic data isn't necessarily bad but the market is pretty rich at the moment and unfortunately we will be below 17k. stuart: windows nt what you said and you will be held to account. i will call this buyer's remorse. 53% would pick mitt romney over barack obama if the election were held today. 44% for president obama. >> pollsters, seeing reacts on the internet, people like mitt romney optimistic can-do attitude don't like the negativity from president obama. one key personally have to hear from on whether or not mitt romney will run again is
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his wife. she has been the one who corroborates whether or not he will run and has been the most ardent supporter and a key backer, she is the real one to watch on whether or not mitt romney will run again. stuart: the white house wants to stuff them in, get lower taxes over there. what do you say about that? >> i say that is a very bad id idea. to say a company operating within the rule of law trying to maximize shareholder value by not paying the corporate tax rate is unpatriotic. to me that is very naive. companies trying to optimize shareholder value should do that within the framework of the law. if you don't like what they are doing, change the law. stuart: you are doing very well if you're not careful, you will be back. there is a meat shortage, good
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quality clean meat in china. mcdonald's is suffering badly, what is the full story, nicole? nicole: without about a tainted meat supplier fighting other names that only mcdonald's but yum brands and other names including papa john's, starbucks and burger king. so all of these names ended their relationship with the supplier. not mcdonald's. in the meantime people are going to mcdonald's and no hamburgers, no chicken. you can have hashbrowns, french fries, drinks or ice cream and a pie. here in the near term it is tough on mcdonald's. stuart: i am surprised the stock is not down more than just $0.11. >> not just china, china, japan, hong kong affected by this. stuart: more millennial saying no to marriage.
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i think i've got some pretty big applications for the economy down the road, what do you say? >> i agree with you. what w we're seeing is the resut of the economy. entry wage jobs a statement over the past several years, the cost everything is going up, if that trend is not changed, it means smaller families which creates a demographic problem for us in the future as we have to get the economy moving again. stuart: next up, not a good sign for housing. pending home sales down. >> that is right. pending home sales are down even though they look good in the midwest and the west, overall they were not doing so great ann the most recent indication, what we're also seeing his optimism
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here. home prices busily flatlined maybe the first time homebuyer can come back into the market, stuart. stuart: that is it for "the real halftime report." thank you always. a p.r. nightmare after they refused to give a refund to the family of a youngster diagnosed with cancer. details after the break. [bell rings] ♪ time and sales data. split-second stats. ♪ its so close to the options floor, you'll bust your brain-box.
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all on thinkorswim, from td ameritrade.
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call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. stuart: this story has a lot of people upset. a family books a cruise on norwegian cruise lines. this honest i knows with cancer, they obviously can't go. norwegian cruise line would not given a refund. this is a family. >> what they said as they hoped we would choose norwegian for future cruising and after we both a cruise depending on the dates and locations we chose they would try to do something for us but wasn't guaranteed. stuart: the cruise line put out this statement. we spoke with the family,
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explained well we couldn't make an exception to our policy, we would assist them when they were ready to rebook their cruise. a brand building consultant joining us. i say bad p.r. especially with cruise lines doesn't really hurt, over the long-term they bounce back, business is just fine, nothing happens, what do you say? >> it certainly looks that way, but i think it is because the cruise lines are discounting the heck out of their business, they're basically bribing people to come back or to overlook the bad things that have happened in their past and they are able to get away with it so far. stuart: they get around it i putting out more stuff, that negates the bad p.r. it seems to me you could apply this to all kinds of industries and all kinds of products and companies. toyota has bad p.r., coke had bad p.r., tylenol had a dreadful
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scare 30 years ago. they seeme seem to always bounc. i have to say, dad p.r. doesn't really hurt over the very long term, does it? >> i think the companies that are able to regain the narrative and take control of what has been said about their companies and make it into a positive are the ones in the long-term net gain like tylenol which transformed the whole drug industry in terms of precautions and safety measures we have on all the medications. in the case of a norwegian cruise liner it is like the fast food industry where people keep on cutting prices and cutting prices, it is a race to the bottom. the branded really loses out because they are not building the brand loyalty they need to cover them from the times they aren't going to have these really great prices to offer. over time they might see the brand equity trailing and the
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only way they can sustain a business is by price promotion and that is a dangerous business strategy. stuart: i would have said take the money back and ask him around you get a free cruise with the young man, that is what i would have said. >> absolutely be at we are sorry, made a mistake, and to your point do something over and above so they take control of the story and lead on a positive note. they really botched this one. good p.r. on my part. thank you for joining us, you come again soon. your take on the whole show ne next.
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driving, they are constantly probing the critical infrastructure, they're highly critical infrastructure work, they are mapping these things out getting into the guts of our network and software, fining root kits inside power plants. just a matter of time before we have another bigcident that happens and it will definitely involve cyber. stuart: even john mcafee says we could see a major cyber attack by the end of the year. now this, your take on the rest of the show. this is a but whether or not should vote for president obama or mitt romney if it were today. romney in a heartbeat, she says. no to compromise, no to smaller government, no to common sense. this about the possible gift marijuana become illegal at the federal level in america. whatever this country needs, more potheads not one of them.
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there you have it. now here is deirdre bolton. cheryl: actually cheryl casone. do you think the fed will legalize marijuana across the country? stuart: within five years, yes. a republican, a democrat. cheryl: thank you very much. i am cheryl casone in for deirdre today. media mogul real richard murdoch is in whatever it takes his proposed buyout of time warner including a voice on the board, or behind a sweetened offer coming up in just a moment. and it was a good morning for carl icahn. $174 million on $8.5 billion purchase of family dollar. and some big news on the home front. zillow buys trulia

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