tv After the Bell FOX Business August 12, 2014 4:00pm-5:01pm EDT
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lower. liz: we need a picket sign, save radioshack. [closing bell ringing] ubs saying we may be near the end of radioshack. end of an eye can. david: they would indeed. they just opened a new one in nye neighborhood. liz: really? one in southhampton. we'll watch radioshack. as well as bells ring on wall street. a flat to lower market today although the dow jones industrials must have crossed the flat line 45 times. a lot of indecisiveness without real direction except a few concerns overseas. we look how stocks are finishing up. dow jones industrials down but not by much. down eight points. russell 2000 down 13/4 of a percent. -- 3/4 of a percent of the nasdaq down. we have so much talk about. it will help your money, we're sure of it. let's get going. "after the bell" starts right now.
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david: let's get right to it. we have yu-dee chang, ace investment stratstrategist chief trader. why a rate hike could be good for the equity market. we have imperion wealth management. and bob iaccino from the cme. i want to start with you. you say you are bullish, bob. you say this is not the spot to buy into the market. why not? >> david, i knew you were going to be the one to ask me that question. i thought of it as i was stepping up here and the reason is we're not seeing the kind of strength i need to see of the last time i was on with you, i said i'm bullish but not buying here. we're not seeing bottoming. we're seeing sideways trade in the midst of the down move we saw last week. that there are a lot of reasons it may continue, not necessarily fundamentals, stocks can't get out of their own way maybe abusebecause of geopolitical
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tensions. we'll need something else to push us higher. once earnings season is done i'm not sure we have it. liz: bob, that is perfect way of outlining it. one thing we ask our pundits people with real hands in the money are these short-term concerns or long-term concerns, kimberly? >> you know, we are actually short-term cautious but long term, very optimistic. yes there are concerns out there but with the geopolitical concerns, russia and you've got italy in recession and you've got the middle east issues, but thighs are freight opportunities -- great opportunities when the markets pull back, liz, 4 or 5% to micro rebalance and add new money to portfolios and that's exactly what we're doing. david: yu-dee, talk about inflation here and relationship between inflation and interest rates. past 30 years we have chart to show this. i mentioned this yesterday. for most of the 30 years
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interest rates were higher than the inflation rate. that means you could make money by saving money. right now you can not do that. until the fed changes that, raises rates above the rate of inflation, i don't see any place to put your money but in equities. >> well that is exactly what the fed has been trying to do, right? they want to push them money to so-called risky trade, thus stimulating economy and it is working. that's why we are still at this -- david: hold on a second, yu-dee. let me reemphasize something here. most of the past 30 years, booming '80s, booming '90s, most of the last decade that was booming we had interest rates higher than inflation. we are not going to boom unless we get interest rates above inflation. >> well, i wouldn't necessarily say that. i mean right now i think inflation, so you're saying that in order for ours to boom then we need to see a little bit more of a robust economy, thus
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spurring on some type of inflation. that theory could be true too. people are starting to talk about the economy as it starts to pick up steam a little bit, labor wages may trigger inflation which may in turn make the fed prematurely raise interest rates sooner than what they would do. so, what you're saying could be very correct, that in order for the economy to get more robust, we do actually need higher interest rates. higher interest rates is actually good for the market. liz: bob, down on the floor of the cme, how much do they look at jolt survey, job openings, hiring? this is fantastic number. many in years it become the highest we saw most job openings. does that lance translate to the federal reserve thinking we might need to get close to start tightening rates and what do folks say on the cme. >> that is good point. quit rate is moving higher.
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quit rate for people don't know, people willing to leave a job because jobs are plentiful to find another one. lines up with the jolt rate. it needs to translate into non-farm numbers and shrinking labor pool. we haven't quite seen that yet. back to the point about inflation, the thing that is strange we're in completely unprecedented territory. liz, i don't think the fed will act on that. the fed is on their own agenda in my driven of the we have fed driften asset inflation. not demand driven asset inflation. it bringings price inflation when it is natural or organic. equities, real estate driven by the fed whether it will bring price inflation as well and i don't know that they will move interest rates anytime soon. david: kim, there are dangerous signs abroad in europe, when we thought europe was out of the deep stuff, germany gets stuck in it. some stats coming out of germany are very troublesome.
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will that affect our market in any way? >> you know, it could have some ripple effects but the reality is, david, nobody knows what the fed's going to do or when they're going to act or what the global markets will do in the long run but an investor needs to be invested for the long term. so it is really up to the allocation of the portfolio and their ability to stay in the markets regardless of what the markets are doing commensurate with their ability to stay there and gain on the dips. rebalance portfolios on the dips so they regain in long term. idea of timing the market is really a very, very difficult thing to do and what we tell the clients really it is not timing the markets it is type in the markets. liz: that is a good way of putting it, kimberly. you're picking two names, ge and conocophillips. conocophillips has pretty decent dividend but why do you like these two names? >> we love those and i believe in value investing and we're
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tilting towards value investing. those are two of the largest holdings in our value mutual funds. liz, we're fully invested in 44 different countries and 4,000 different stocks. those are the two largest holdings in the value sector and they pay dividends 3.2%. you get paid while you're holding the stock as well. david: yu-dee i would like to talk about financials for a second. we had very good numbers profits from the banking sector today. they're making money hand over foot. on the other hand, some people like j.c. paretz who we had on yesterday look at technical charts of financials and say now is not the time. you like financials now. why? >> i do like financials, if you look at financial charts i like it even more. this is consolidation pattern we think is going higher. basically it is this. financials got rid of all their woes of 2008. they have been able to benefit from low-yielding, low-interest rate -- david: lending money like crazy
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now. >> yeah, absolutely of the that's why i think if rates ever go higher, the economy gets a little bit more robust their profit margin will be higher and we make more money. i think they're poised to take advantage of higher interest rates and they're still are able to make money during this low rate environment. that's why i like financials going forward also. liz: yu-dee chang, kimberly foss. great to see you. bob we'll come back to you shortly for the futures close. we want to see that. >> thank you, folks. robin williams had a huge impact on entertainment world on and off the screen. we'll speak with someone who worked closely with him on his last film. we will speak of pressures they have to face with internal props. liz: you may want to think like a woman because women apparently produce better ruttings. -- results. we'll break down why you could learn from female investors. david: my mom did that in our
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family. millions of twitter users, guess what, they're robots, not people at all, sending automated tweets, about 22 million of them. what that could mean for twitter's bottom line. it could really affect twit ir. will advertisers start running away from them? we'll talk to you with a man who told you about the robot tweets last year. liz: robin williams, we would love to hear from you, what is one of your favorite robin williams moment. i stole, oh campaign, my captain. tweet us @fbnatb. we'll share some of your answers coming up. ♪ [ male announcer ] once, there was a man
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david: intercept pharmaceuticals is soaring after the company releases positive test results for its treatment of liver disease. liz: let's head back to nicole. she is on the floor of the new york stock exchange with more. nicole. >> always great news, liz and dave, when you get medical breakthroughs. intercept was up over 60% yesterday. great move up here. up 16 1/2% here at closing bell. 276.52 is where it closed. basically the drug developer, intercept pharma basically looked at treatments for liver
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disease. this is liver disease caused by fat buildup, not by alcohol. so they showed significant improvement in statistics of scarring or lack there of. it did not worsen in 46% of the patients given the drug versus 21% for the placebo. that was great news. oppenheimer made positive comments on safety of the drug. there were fears about the safety. those have been quelled to a certain extent. the stock really did well today, up 16.5%. david: good news for the stock. good news for the medication. thanks, nicole, appreciate it. >> get some news, good or bad we don't know, s&p futures. let's head back iaccino in the pits of cme bob. >> news turn out to be good or bad? can it be medium? very quiet at close. more good earnings coming out again. we can't get upward push in the face of geopolitical tensions. when earnings season wind down you have terms of caution adding
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money to the s&p. doesn't mean the fundamentals have changed, they have not. this might not be the right timing just how evidence quiet it is behind me. david: snappy tie, i do say so. >> i'm feeling snappy, david. david: thanks very much for being here. twitter after reporting 24% yearly increase in monthly active users announced fact that 23 million aren't people at all. they are botts. automated computer hits. this is no supply to our next guest. he called twitter on its active number of, number about active users when he was on the show last november. take a look. >> first of all, 200 million, how many of them are botts? automatic, these, auto feeding devices and so on? liz: what does this impact on the stock? i mean what happens? what will it do to twitter? with us live, vivek wadhwa, fellow at sanford university. you knew this back then.
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why did nobody else? now we see it, suddenly because it is in the journal people pay attention to it, but it hasn't translated in dramatic way? we know twitter well off the highs of the year. when do you start to see it meaningfully impact numbers. >> the reason why people aren't seeing it because they want to believe social media has fantastic upside. twitter isn't going from $25 billion company to $50 billion company based on number of users it has. they might squeeze a little bit more revenue out of it but we all know the number sin plated. right now twitter is desperately trying to justify the numbers saying it is not as bad as you think it is but the fact a significant number are bots. people are multiple accounts. a lot of users don't use twitter and create accounts ant leave it running there. it is hard for twitter to increase revenue. it is valuable but grossly still overvalued. i'm still pessimistic about the company. david: everybody knows it today
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but if they have been watching you self weeks ago right here they would have known it before. you hit it absolutely correct. 23 million users are not people at all, that means that it is ad count is wrong. when twitter goes to advertisers and says, that we have 23 million more people watching your ads than they actually do, that is not right. that is a misaccounting, is it not? >> the problem is that those bots could be watching ads as well. these numbers are all deceptive. ultimately what makes the difference how much does twitter increase your revenue? when customers start adding the numbers up that is when you see the backlash. david: i'm wondering if using the word deception is going too far? >> it may not be. i remain pessimistic about the company. i love the company. i'm an active user of twitter myself but the hype and the valuations and so on are
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exaggerated. let's put it that way. david: okay. liz: did we show some yet? the one that says bong, bong, bong. clearly that is done by a bot. but when you look at the other ones that are actually active, among the 271 million active users, very he can are, you -- vivek, you use it, i use it, i follow you so i know you use it. opportunity to promote things and get attention does it outweigh the millions of bots out there that will never view a advertisement that twitter puts up? >> you and i are worth following. liz: thank you. >> than putting silly things out there. i'm not sure how twitter is commercializing it. frankly i don't watch ads on twitter. i don't know if you seen an ad. i don't know how they're commercializing me other than the fact i'm creating content for them. short term they will inflate
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them, for next one or two quarters. long-term, pessimistic still. david: vivek, for our viewers who don't know who you are, you advise a lot of important people in government, more important than government people, are entrepreneurs, folks in the private sector. what do you them them about twitter? do you tell them that you guys have to do more of it? it is necessary in today ace business world? >> i tell them social media is yesterday's news. we're in an era of advancing technologies. we have opportunity right to take advantage of censors, artificial intelligence -- sensors, 3d printing all amazing things happening to solve big problems right now. twitter, social media made sense five or 10 years ago, made a big impact on society. today we be solving problems of health, solving problems of poverty. go through all the problems humanity had, technology given us the ability to think big. david: it sound, vivek, you're saying that twitter is superficial and that we should
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focus on things that are really going to change mankind, twitter is not going to do that? >> we are going to be coming up with amazing advancements over next five or 10 years. self-driving cars on the road. artificial intelligence, doctors advising us on our health. we'll have i-health devices what apple announced which monitor our body day and night and advise us on what to eat, what not to eat, when to go to the doctor or tell us what to do instead of going to a doctor. we'll have these type of amazing advances. already the nest thermostat that google bought $3.2 billion, you will have add-ons help you optimize efficiency of your homes. solar energy prices continue it will be a within a decade cheaper to have solar than to buy from the grid, from the power companies. another decade later it will be free. free energy. these are the type of advances happening which will transform mankind. i tell people to focus on those because we can make the world a
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better place. david: this is a man that thinks about those big things. that's why we love to have you on. good to see you, vivek. >> thank you. liz: david: liz? liz: do you think vivek plays "candy crush?" the company behind "candy crush," king digital, we want to bring you a stock alert here. shares of the company plunging 22% after-hours. the company missed second quarter revenue estimates. it is lowering the full-year outlook. king digital is maker of that popular game "candy crush." it is so popular, david, up with good thing out of its earnings reports, daily active users were 13million users in q2. that is up 82% but market doesn't want to look at that right now. david: as vivek if you said, focus on superficial, sorry, folks but the game is superficial, play it instead of reading newspaper when traveling to work on the bus. but that is the problem. it doesn't have much use beyond that particular game. i guess that is what the market is saying. >> i guess warren buffett would never invest.
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he doesn't invest in things he down understand. if you want to invest in billionaire like warren buffett, arguably, biggest investor of our time, you could be out of luck. author of warren buffett invests like a girl. why women could be better investors than men. david: looks like atlantic city industry could be in a death spiral. the revel casino is the latest to say it is shutting its doors. is it all doom an gloom in the gambling business? liz: could be the biggest ipo in history but just weeks before alibaba is expected to go public the chinese e-commerce giant still facing massive hurdles. we'll find out how much you the investor should be concerned if you're considering jumping into this stock when it does become public. ♪ [ male announcer ] ours was the first modern airliner,
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david: time for a quick speed read, some of the day's other stories, five stories one minute. barney's agreed to pay $125,000 to resolve allegations of racial profiling at its flagship store in new york city. barney's investigated credit card use of minority customers and had detectives follow minority customers while they shopped. now they're paying up. >> into google is teaming up with five asian telecom and communications companies to improve connections between japan and u.s. company is investing in $300 million to operate the trans-pacific cable network called faster. chrome book sales are set to nearly triple by 2017 according to a report by gartner. sales are expected to reach 14.2 million over the next three
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years. the international energy agency cutting forecast for global oil demand growth due to a supply gut. the agency estimates growth of one million barrels a day. snapchat is the third most popular social app millenials. according to recent report by comscore,. [buzzer] snapchat trails instagram and facebook. that is today's "speed read." liz? liz: alibaba gears up for what could be the biggest initial public offering yet. the chinese e-commerce giant is facing some major challenges ahead of its public debut. david: jo ling kent joining us from you with the very latest. jo, what is the latest on this? >> we're watching whether or not alibaba will be listed on the s&p 500 or not and other big indices because there is lot of criteria to growing to make sure a company can land there and we can show you some of these criteria. here we've got, sector representation, whether or not it is a u.s. company. david: is alibaba? >> it is registered in the
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cayman island. it operates its headquarters in china, and of course listing on the new york stock exchange but what is interesting here, i spoke with an s&p indices committee member who helps determine whether or not alibaba will make it on to this indices, index and he said that probably if you look at all of the american companies, there are actually a handful that are not american but are listed. there is still a chance it will make it on the s&p 500 but the reason that matters here, once they get san diego, if they -- considered, if they don't make it, they could hurt momentum on stock and people people may not want to invest it and turn and invest in softbank or yahoo! as alternative. liz: mutual fund out there that mimic the s&p and buy every name in the s&p can not then buy alibaba. >> precisely. that is one of the main problems. the second other problem you have is there needs to be a lot of capital raised and alibaba is still being investigated by lots of potential investors.
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if they need to raise a certain amount of money beyond what, say, they want to raise 20 billiondollars and they need interest for times than that that means some institutional investors have to put in $1 billion each according to "wall street journal." that is not money people have lying around or institutional investors have lying around. david: what about financial transparency? a lot of people in the chinese government are getting jobs in alibaba and very command positions in alibaba. is there concern that perhaps they may have the same lack of transparency that the chinese government has? >> the biggest risk factor is what the chinese government could do to the e-commerce market that would hurt alibaba's business and all of its business virtually is in china. there are some international elements to it but transparency is an issue and corporate governance is an issue. the way the founder structures how he owns part of the company is a question to a lot of potential investors. liz: jo ling, watching alibaba every step of the way. >> we're getting ready for the
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road show. my sources say it will kick off september 1st. it is labor day, hong kong and london. david: this woman has been right most of the time or all the time i don't think you've ever been wrong. >> alibaba i've been covering it a long time. we look forward to cover that ipo. david: you're doing a great job. thank you, jo ling kent. as analysts crunch the numbers some stocks seem to have rosier outlook than others. we have three names with big increases in earnings estimates next. liz: if you want to be successful when it comes to your invests you may need to follow in footsteps of women financial advisors. what sets women apart in the way they invest and what can you learn to make better financial decisions? david: as we celebrate the life of icahn robin williams. we'll talk to a man who worked closely with him on one of his last films. that is coming up. ♪ so ally bank really has no hidden fees on savings accounts? that's right.
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liz: are you looking to make a sound investment? then perhaps your advisor should be a woman. studies show that women have a much different approach to investing than men do. one of the world's most reknowned investors may have his february anyone investing style to thank for his big-time success. joining us now in a fox business exclusive, luann lofton, author of "warren buffett invests like a girl and why you should too."
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luann, we talked to you before about this and we'll get to warren in a moment but more importantly we've seen recent stats that show female hedge fund managers tend to outperform male hedge fund managers. why? what are the main salient points here that make women better investors you say? >> right. thanks for having me again, liz. good to be back, and you know, studies show that female investors tend to think longer term. they tend to be less risky when it comes to their investing. they tend to see investing less than a game or to keep score but a way to shore up riches for the future. they take the long-term view on things. they also do more research. they ask tougher questions. and they trade less. one study shows that men traded 45% more than women and sing get men traded 67% more than women. liz: well, there is the perception that men are much more aggressive and they're
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watching things and more jacked up on testosterone. why is that necessarily a negative thing if they're just on it constantly? >> right. well, you know it is interesting, testosterone, we all, you know love it and respect it but it can make groups of men, no offense, guys, but it can make you behave in kind of strange ways. liz: okay. >> if we think about trading floors, risk-taking behavior, getting an ego involved, trying to outdo the other guy. one study even looked at a role of testosterone when it comes to trading, the conclusion that the author, john coates reached, adding more women to trading floors and boardrooms on wall street, would quote, dampen the hormonal effects of the market. liz: warren buffett read your book and talked to me about it. you ought to talk to luann. of course we did then. warren buffett say you invested like a girl. what equated warren, the third
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richest man in the world to investing like a female? >> looking at studies now go back well over a decade, again they just show the way women approach investing, longer term point of view. they're approaching it as actual investing, not as trading. buying shares in companies they know and they understand, with management that they trust and holding on to them forever. one of our favorite buffett quotes, all of us buffett fans is his favorite holding period is forever. you see that more with female investors. >> trades out sometimes. johnson & johnson is perfect example. he held it for a long type. when he starred to sell some of it, i asked him why. it is not that i don't like it but i like other things better and i wanted to raise cash to buy other things. in the end you're absolutely right holeds for the long term. he also doesn't panic. he stays very calm. we asked him about general motors and holdings there with all the troubles for the recalls. i'm not concerned. of course he cares about the people who were killed in these recalls, he said i'm not
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concerned about the stock. i'm staying in it. so my question to you, women are known, stereo typically to be a little more emotional. so why is that somehow translate to them staying calm and holding through tough times? >> you know it is interesting, i would argue when it comes to the stock market men are the more emotional sex. vanguard did a study that looks at 2.7 million of its ira accounts and activity in the accounts in fall of 2008 and beginning of 2009, when they found, women were much more likely to stay the course whereas men were much more likely to panic and sell their holdings at the bottom. you know, it is interesting, that is the perception but the studies show women tend to be less susceptible to peer pressure. more willing to stick with it all which remind me a whole lot of warren buffett. liz: luann, see you at the shareholder meeting in may in nebraska. >> anytime, liz. liz: author of "warren buffett
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invests like a girl." read it if you want to see positive aspects, david, how females would invest. david: my mother would agree with her and my father. my mother built a mini fortune. remembering the robin williams the comedian was a force of nature and left a huge void in the entertainment industry. we pay tribute to him and huge impact on the entertainment business including special guests including some who worked with him. atlantic city's struggling casino business is dealt a massive new blow with closure of another major hotel. we'll find out whether the traditional bam blink industry is dying out in the u.s. ♪
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david: the death of robin williams hit us all hard because some of us were affected by his work and because he was so up front about the depression that neither his fame nor his fortune could lighten but is the unhappiness that led to his death a real occupational hazard of somebody who is always in the limelight, always performing? joining me now is lee hawkins, "wall street journal's" celebrity business reporter. and doug soes by, writer of "boulevard," one of rob williams last films. thanks for coming in to be with us today. i was struck by something jamie
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mazada said. he is founder of the laugh factory where robin williams used to go to try out new material and have fun. he said he was always in character. i knew him for 35 years and i never knew him. what did you make of that quote? >> well, he, first of all, i have to say he was one of the nicest men i ever met. he was a real person. such incredible affection for everybody on the set. our particular film was a drama. i think the character he was playing in our film was a bit subdued and somber. i think he was so into what he did and such a great actor that the robin that knew was very subdued and wonderfully friendly and warm but was always, just a little bit, i didn't see that side of him but have these wonderful bursts of humor occasionally, this showed that side of him. david: that is very interesting. lee, he did do a couple of serious films that were of note and he stayed, from talking to people that who were on sets of
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"wakenings" and "goodwill hunting" he had a serious side. there is something about people who are always on. even when he was relaxing he felt the spotlight was on. >> even when they're talking about the challenges that they have in their life they always address it in a comedic way, not necessarily being serious and candid. david: there is a price to pay for that. >> there is a price to pay for that. whenever i interview comedians, that is the big challenge, to get them serious and answer questions. in fact i interviewed joan rivers at one point -- david: another person that is always on, joan rivers. >> how do you deal with that personal pain, do you hide it or talk about it. here what she said. >> bill cosby, said to me, he hit a little ahead of me and used to give me advice, you leave your house at pr i just heard my best friend died, and walking through an airport.
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david: well, doug, let me go back to you, did you ever see the depression of robin williams? he said it was a somber film you were doing with him, but you could you tell he was having these emotional problems. >> i really couldn't. he was such a gentleman. like i say he was subdued but didn't appear depressed to me. seemed very into his work. it was very, these independent films, it was very difficult schedule with long hours. he was so there for us. and never complained, never ever complained. david: by the way, "boulevard," came out at film festivals, lee, but hasn't been generally released. he has three other films that will be released, one of which is a holiday film. >> yes. david: that might be a little awkward coming out around christmastime? >> he was extraordinarily talented guy and he was in demand because of his career. there was one thing at that really stood out to where he said that comedy can be cathartic way to deal with personal trauma. so i think that he, enveloped
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himself into his work to deal with his inner demons the same way you saw richard pryor do that chris farley, john belushi, some of the greatest people were people really, really destroyed in the end by their demons. david: by the way, douglas, one thing that impressed me how much charity work he did for veterans. not just veterans but active military people. he went to war zones and went to the front lines. very often wore a marine lapel pin. >> this makes total sense to me because he was also very generous as human being and actor. cathy baker, the actress who played his wife, told me was one of the most generous actors she ever worked with with. david: one of the things i wonder, douglas, curiosity, was religious at all? >> i don't know. i don't know. i think he was very spiritual. i had that feeling. he was eclectic and talked about some different things and so
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bright, perspectives on life. i don't know about that, but i suspect that he had a very special spiritual -- david: lee, on a time when we're focusing on his wonderful character that doesn't have a price tag to it, he did bring ins was in films that brought in $6 billion in revenue. so this guy was a huge box office performer. >> yes, he was. there will never be another one like him. very difficult to build -- david: he combined humor. you have comedians who just do comedic roles and serious people who can't do comedy but he did both. >> it he was classically trained actor and through the years, and decade, starting with morning, mork, he built it grad ali. it wasn't just a quick thing. he did it over the years and built generations and generations of fans. there will never be another robin williams. david: this is bad year with
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actors caught with things leading to their death, philip seymour hoffman. latest "hunger games." >> these people are constantly working and they put films and music in the can. and at end of the day it is still a business and they continue to put out those music, the music and the films. david: douglas, i have to ask, we're a money-making station. >> sure. david: we encourage people to make money, once again shows that money and fame doesn't solve everything. certainly doesn't solve emotional problems, right? >> it certainly doesn't and particularly clinical depression, there is nothing for it. you know, just, a deep pit of despair that people go into and nothing helps. david: he is certainly was irreplaceable not just from the box office phenomenon but as a person. >> absolutely. david: douglas soesbe, writer of the film "boulevard" you may see soon at theaters and lee hawkins. >> thanks a lot. david: david: liz, over to you. >> you may love service with a smile on vacation but how about service with a robot?
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and all you have to do is sleep. which is easy. only at a sleep number store, mattresses with sleepiq start at just $999.98 because everyone deserves a great night's sleep. know better sleep with sleep number. liz: atlantic city's revel casino opened just two years ago, brand new basically? announcing it will close in less than a month. david: this is the fourth casino to close down. fox business's adam shapiro joining us to discuss the casino's closure and implication for the entire gambling industry. adam. >> dave it was a gamble you might say that actually didn't pay off the two-year-old casino cost $2.6 billion to make and first new casino in atlantic city since 2003. it was taken over by creditors just last year. they filed for bankruptcy a second time in june. no bidders coming to the rescue this time, to give you an idea how just poorly revel was doing,
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it already lost $75 million this year. revel is the fourth casino to close this year in atlantic city. it could actually be a sign of changing times when it comes to gambling. first in las vegas, gambling revenues actually falling from 6.5 billion in 2007, to 6.5 billion in in 2013. new jersey seen its gambling revenue drop by 2.1 billion in the same period. mississippi seeing betting decline. now the money is all headed online. why get dressed up and travel when you can bet from home? what happens in vegas stays at vegas stays at home too. the online market is expected to rise to $41 billion in 2015 from 25.8 billion in 2009. four out of 18 publiclied trading casinos have seen big spikes in institutional buying
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and hedge fund. morgan stanley stays optimistic, despite near term concern they remain confident, this is quote, vegas recovery story. they like las vegas sand and they say las vegas sand will outperform in macau and likes mgm due to its strong balance sheet. liz? liz: adam shapiro, thank you so much. david: the whole gambling industry is changing dramatically. >> there seems to be robot for everything these days from burger flipping robots to family member robots. how about a bellhop? we'll tell you about a human-friendly hotel helper next. david: did you ever wonder what it was like to soar through space like a astronaut? nasa is giving you that opportunity without you having to leave the comfort of your own home or ending up like sandra bullock in grafty. details when we go off the desk. "gravity."
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david: time to go "off the desk." we told you about this you might think of it as the terminator's friendly sibling. it is not a robot bellhop. it is being tested in the aloft hotel in cupertino, california of all places. robot called, bolter, is programmed to deliver items like razors or toothbrushes, even newspapers to any of the hotel's 150 rooms. just a couple of minutes. bolter can travel up to four miles an hour. as you can see it looks a little bit like "star wars"'s r2-d2. turns same way r2-d2 does. it tells guests it arrived uses automated system calls the guest room. doesn't leave until the guest uses tough screen face that the delivery is made and the guest is happy. the robot proved popular with the guests. liz: because you don't have to tip it.
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david: of course. of course. liz: every wonder what it might be like to fly on a rocket to outer space? david: yes. liz: get a small glimpse from the nasa rob rocket footage. david: i'm getting sick. liz: me too. the rocket was designed to deliver large payrolls like rovers to mars. it showed a parachute which unfortunately did not deploy properly on this particular cocation. get to see it you a. david: celebrating the life of comedic legend rock bin williams we asked you on facebook and twitter to share with us favorite memories of the actor. she told us her favorite memory with walter mat thousand in the survivors. i forgotten about that. liz: number one thing earnings from cisco set to be released after the bell. analysts expect the tech giant to report earnings per share of 53 cents. revenue $4.2 billion. the tech industry bellwether is
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highly dependent on businesses willing to spend on networking equipment. we'll speak live with cisco ceo and chairman, john chambers. david: coincidence, be there on the same day the results come out? holy cow. must have been planned. liz: have to be here. david: "willis report" with cheryl casone. you will talk about downright dirty battles between lyft and uber. >> real quick question. if either of your limo drivers can't show you to have you used uber? david: i don't have a limo service. i take the subway. >> i've seen you on the subway. curious if you tried uber. david: all the way. using it, it works. cheryl: very good. thank you very much. we'll talk obviously about lyft and uber coming up in a little bit. also on the show, wage gaps in america. jobs are coming back slowly. but wages are going substantially down. what is going
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