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tv   After the Bell  FOX Business  September 18, 2014 4:00pm-5:01pm EDT

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basically encouraging the company to split apart. that is up almost 10% this week. liz: activist investors tend to move the stock on any given day but what is moving markets so dramatically? dow jones industrial average, that is record for the close. not an intraday record but closing record by a long shot, everybody. the previous close was 17,156. today right now, 17,264. every other index is following suit here on this bull fabulous day. the nasdaq better by 31 points. russell seeing half a% gain. s&p 500 closing at 2011. that is too a closing record. let's get to it. "after the bell" starting right now. david: covering today's market action, we have jamie cox, harris financial group. he will tell you how to make money even when interest rates rise a lot.
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kimberly toss of imperion wealth management will tell us where she is finding value in markets. dan stesich from the cme in the heart of the country. dan, yellen, still a yellen fueled rally fair to say. what is the downside risk of what yellen announced yesterday? is there one? >> currently there sit one but i bows the downside risk will be, if you listen to her testimony, this is what i got out of it, she seemed to pay a lot of attention to the employment figures. if they start increasing rapidly they might make their change. if it does, that might trigger a fed tightening that. initially will hurt the market. i don't think that will be long lived. higher rates will be good for the market. you to watch out for that on the downside right now. >> train your viewers thinking exactly what you said. if the fed tightens rates, because the economy is believes can withstand that. let's get to jamie. you and kimberly have money you're moving around here. if you got out of the markets
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last week or just a couple of days ago, you missed out on a great rally. what do you do now? >> over last couple days you've seen people get out market, trying to raise money to get allocations to alibaba as it comes out tomorrow. i think all the money cops back into the market tomorrow. those people that want allocations to alibaba will use it. those who don't will put it back to work. in the the interyou should have been buying financials last three years. now that qe3 is burned off and interest rates are set to rise in 2015, this is the perfect place, financials will be really, really good in the future. dividend, all the lawsuits will be over with. we can begin to own these things. they will no longer be the most hated sector in america. david: by the way i wouldn't necessarily bet all the lawsuits are over. i think fed, justice department still has more work to do according to their own advisors. kimberly, let's not leave alibaba so quick. what is your strategy when to
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get in? some say get in immediately as soon as flipping starts. other people say wait 30 days, 60 today. >> even 90 days. what do you say? >> well you know we're not traders. we're investors, we're in the camp of 60, 90, 120 days. i did a little research. from 1960 through today there have been 12,500, ipos, david. average return is 16.9%. if you're lucky one in 10 investor to get ipo shares, hey, more power to you. but for the rest of us investors, long term added over next 60, 90, 120 days you should have it in the portfolio but add it over that time. david: gotcha. liz: let me get to the jack-of-all-trades because jo ling kent will be covering the alibaba ipo from the floor of the new york stock exchange. right now you're looking at oracle just out with earnings. >> big news from oracle. larry ellison stepping down as ceo. he will be replaced by two
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individuals. mark hurd and safra katz. both are ceo of oracle. larry ellison will stay executive chairman and be the cto. the miss on the street from estimate of $8.77 billion, liz. eps coming in at 62 cents a share. also a miss. big headline, larry ellison stepping down, two new ceos to replace him. liz: he has been quite the charismatic leader, hasn't he, jo. >> absolutely. fascinating guy. liz: jo ling with the news. larry ellison, or not to be on the day-to-day part of the company running it. let's get back to dan stesich on floor of the cme here. what part of the market, whether it was treasurys, transports once again moving higher, had such a great day yesterday? did you look at say, there is the story of the day as subsector going on for all of the news front? >> i looked at the market
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overall today. i really didn't pay attention to specific sectors because it seems like a rising tide lifts all boats. that is what happened here. just the, joy of the fed keeping considerable time in their statement has helped this market over couple days. i don't know how much longer they will last. they will need the economy to dictate this thing higher. david: jamie, scotland is still in the news. we still don't know how they voted. the no vote was catching a little bit of fire. so they may stay a part of the united kingdom. what happens if scotland votes yes to independence? >> oh gosh, there will be all kind of trouble in the currency markets. scotland will have to join the euro. they will not be able to stand on their own two feet. they're not used to it. it will be difficult. david: how does that spill over lear? >> i think currency markets have a tendency to make things really, really crazy in all markets across the world. it willing transmitted through the currency markets. the dollar will probably strengthen. you will see a lot of things
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that will happen to be temporary in nature but definitely will cause problems if they do vote yes. liz: dollar had mixed day today but it was sure strong yesterday. that was all fed related. kimberly, you mentioned you're not a trader. you're a long-term investor. let's get into what you're investing in right now. what are your favorite names and why? we lost kimberly. so, let me then go to jamie again, you've got some picks that you really look a the moment. what i do with specific investors talk about what you love the most about the stock but also your concerns about any kind of problem that it might face. >> i want to concentrate on financials. that one of my favorite sectors right now. give you three names. goldman sachs, prudential and bb&t. should give you, broad spectrum of the financial, you got region has with bb&t. incredibly well-managed company. this company has had a great management for years. they're commit odd their dividend. they're right in the region country they serve most is the
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southeast. it is growing, catching all the people down south from the northeast. really, really good place to be for the company. only thing that can derail that one, which the housing market blows up again. they do have exposure to the housing market in the southeast. david: kimberly is back. exxon is one of your picks. >> right. david: i assume you think oil stocks have been beaten down so much because of decline in price of oil that now he is the time to get? >> buying on the dips. you know you've got a nice little dividend on there at 2.8% dividend. their annual dividend risen seven years in a row, over 8.9% per year. $400 billion company. very strong, strong balance sheet. this is a growth oriented but get paid for holding the stock as well. david: even if the world economy continues to slip a little? we know europe has been slipping. we know china is not growing as fast as it used to grow. does that mean oil maybe can slip a little further?
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>> well it could, but again we're long-term investors. you know what? oil is commodity we need and it just keeps going up if we need more. david: gotcha. liz: now we go back to dan stesich really quickly. tell us what we look for if there is a yes vote to secede from the u.k., for scotland. >> well i think as previous guest mentioned, if there is a yes vote you will see a lot of turmoil in the currency markets. he also said long-range effect, not much. dollar initially gained strength certainly against the pound and probably against the euro too. keep an eye on that. liz: jamie, dan, kimberly foss, thanks. we'll see you dan when the s&p futures close. alibaba tape set in the hour and we'll look at hidden danger under the hype many investors are missing. david: it is the last hour of polling in scotland as voters decide whether the nation becomes independent. we're going to take you are sheriff for a -- there live for
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a look at what is at stake and who is on top right now. we'll speak with someone with very scottish roots. yes, mr. steve forbes, on the impact of this historic vote on the united states and european economies. liz: wall street meets marijuana. we're talking to the man behind the new marijuana business academy that is helping entrepreneurs who want to get into the space along with startups, learn the ins and outs of launching a marijuana business. david: we want to hear from you about alibaba as well. that is where most of the information is right now. we're going to give it to you. we want to hear from you, despite all the hype, is it a buy? will it fall or rise after it opens tomorrow? tweet us @fbnatb. your answers coming up. ♪ [ male announcer ] once, there was a man
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liz: stunning news out of or k i guess you could have predicted it but it is big news that larry ellison is changing his role. david: he is. he will still have a very influential role with the company. let's head back to nicole petallides on floor of new york stock exchange. see if it is changing oracle's value at all. >> very interesting. the stock in the after-hours is slightly to the downside. the oracle board appoints larry
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ellison as executive chairman and chief technology officer. jeff henry,ly who served as oracle chairman last 10 years was appointed vice chairman of the board. we have promotions for a couple of more people we're keeping an eye on. that is that that you have mark hurd and katz have been named as ocoee yes, sir. the -- coceos. the company came out with numbers. the revenue came in light. the stock is trading to the downside. hardware systems revenue was to the downside. cloud revenue was higher. back to you. >> nicole, thank you, chief technology officer. wants to stay very much involved. s&p futures are closing right now. let's head back to dan stesich in the pits of cme for late-breaking details there. dan? you. >> know what? i've been trying to figure out good news that would prohe pell this thing over to tomorrow. if alibaba and euphoria that goes along with it, the possibility of a no vote in scotland that might carry early part of the day.
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later in the day maybe some profit-taking. i don't think you will see anything earth shattering tomorrow. david: good stuff. thanks, dan. liz: everybody, almost everybody, we don't like to say all eyes, but almost everybody is anxious awaiting the alibaba ipo tomorrow. the pricing of the shares set to happen any moment. that's why you have to stay right here with us. is there a hidden risk involved in buying the stock some investors at least ignoring the risks? david: i saw geraldo in the hallway, he said, should i buy? when they're asking me should i buy i know everybody -- charlie gasparino hand been talking to sources close to the matter. some caveats he pointed out in an article he just had in the new york pest. what is the biggest risk in buying alibaba? >> let's get to the news i will get into that. underwriters, every major bank is seeing surge of buying from asian investors. so that will potash the -- push up the price of this deal.
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anthony scaramucci on yesterday thinks it could be priced at 70. clearly the price in the aftermarket will probably hit 70. that in itself will be a huge problem. we don't know if the asian investors will flip the stock once it guys up because they about get it at ipo price. david: not too difficult for them to flip it. >> if you're american investor, only very small amount of this ipo go through average investors through the broker. tough buy it at secondary price -- liz: which will be high. >> it will be a rough ride. who knows what those asian investors are going to do. are they going to flip the stock? remember what happened after facebook and even to twitter to some effect. the stock cratered after ipo in fairly significant way. it came back. but you have to be prepared for that sort of turbulence and that sort of wild ride in the near to intermediate term. the other thing is about
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alibaba. you're not really buying shares of alibaba. david: what are you buying? >> you are buying shares after company just created in cayman islands that jack marks the chairman of alibaba, the founder, not the ceo, there he is, jack ma, he pledged rights and revenues of his holdings of these other companies like alibaba china and these other companies that are in china, that the chinese government does not allow americans to invest in directly. he pledged those rights and revenues to this cayman islands company which is what you're buying. now the question is, will jack ma and will the chinese government ever, ever, ever, sort of make that arrangement illegal? it has done that in the past in smaller ways. will they strike this down? if they do strike this down, you, the investor are going to get crushed. so remember -- liz: i'm overstating it, pull a hugo chavez and change the rules under your feet. >> if you think i'm being paranoid i will tell you this,
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go to barrons.com, have interesting piece, mark mobius, great international emerging markets investor raising that very point that could happen. he really doesn't like this. unless you're a momentum player. what is momentum player, if you want to trade the stock up, down, go sideways, fine you will have your hearts content. if you want to be investor long term there is significant risk here. one question alibaba management has to answer when they do answer questions in the next coming days is, give us a range of one to 10 that the chinese government, and this is not the u.s. government as much as we like to beat up on the obama administration, they are part of the democratic process. they believe essentially in our system of government. and in our economic system. the chinese government, who knows where they come out. will they be the structure with the cayman islands, called a vie structure, will they deem that structure illegal. jack ma should be asked point-blank, one to 10, jack,
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tell me where you come out on this? that is key to every individual investor. if you want to risk yourself, you can buy penny stocks, you can buy this. i know a lost smart people will get in on the deal. they are telling me they think it will be huge pop. david: huge market share. 300 million chinese. >> right. lots of problems on this stock, right? they have essentially a lock on the e-commerce business. david: again because it's a chinese communist government gives them that lock. >> remember this is bizarre convoluted corporate structure. kind of enron-esque, i'm not saying they're enron. you're not buying interest in those assets. you're buying stock issued by a cayman island company. david: charlie gasparino, good stuff. liz: sec has vet ad lot of it. >> they do not have the same power as the people's republic of china. david: bingo. liz: charlie, thank you very much. scotland forever may be one of the most enduring folk songs. how was that david? david: we'll have steve forbes do it for us.
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liz: will it be the united kingdom forever? after today's vote on scottish independence we take you live to the scottish capital where the polls get ready to close in about 42 minutes. david: the aforementioned "forbes" media chairman and editor-in-chief steve forbes, is a proud american of scottish descent. he will give us his take. liz: a new documentary talking about what is called america's addiction to oil. we have the movie's associate producer and a former top industry oil executive on the real discovery, this new docudrama "pump." ♪ so i can reach ally bank 24/7, but there are no branches?
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liz: scottish voters have some 37 minutes left to cast their ballots but who's counting in this historic referendum on independence from the united king do. more than four million people are registered to vote today. david: ashley webster joins us live from the scottish capitol of edinburgh. ashley, we wondered how long will it take to count the votes? >> it will take them a while as you mentioned, guys. the polls closing in about 35 minutes. 9:20 local time in the evening. once the 10:00 hour comes around, the real work begins. the voter turnout estimates 85 to 90% is really quite remarkable. everybody wanting to cast their ballot today and apparently they have. the question which way does it go. we have to wait a while before we get the final results.
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the latest estimates from election scotland who monitor this, sometime between 6:30, and 7:30 friday morning local type, after midnight on the east coast by which time results will start coming in within five to six hours after the polls close but there is a long way to go yet. as we said before, obviously too close to call going on. although there is a sense that the no vote may have pulled away a little bit right before the polls opened. but if you belief surveys they're sometimes wrong as we know. we shall see. but a big turnout no doubt. very orderly in the capital city tonight. a lot of excitement. a lot of people carrying the scottish flag on their back, singing songs, riding around in cars and putting that flag high proudly. very interesting to see how it turns out and reaction tomorrow. liz: disappointment or elation, we'll know 2:00 a.m. eastern time when they have the counting done. ashley, thank you very much. ashley webster. david: well there is a very
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proud scottish descendant you might expect steve forbes to be in favor of independence for scotland. in fact he is dead-set against it. he wrote the following in "the daily telegraph" today. the breakup of great britain would encourage all the forces of chaos, terrorism and aggression and set a terrible precedent. here to explain is "forbes" media chairman and former presidential candidate steve forbes. steve, i was kind of shocked. those are very tough words, encourage chaos and terrorism. how? >> europe is in a very fragile condition and forces we thought extinguished in world war ii are springing up. this break up of rock of gibraltar and union can't keep it together, europe will be under severe pressure to fly it apart. you see it in spain and see it in italy and see it in france. forces chaos will emerge. trouble in key he can about. putin uses at justification, more pressure on ukraine and
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russian authorities in baltic states. wreck nato. david: and terrorism as well? >> at love these separatists in spain and elsewhere always resorted to violence in the past. they haven't been peaceful like the scots. they will ramp it up. middle east will see the west is not potent. forces of chaos, if britain can't hold it together who will. david: what would be the initial economic results of a yes vote? >> you're going to see capital flee scotland because they don't know, they have no trust in the regime that is going to come there. you will start to see capital flee london as well and come here. we'll be the default position again. if london again can't keep it together if that has uncertain future which people always thought about london, you could park your money there and have it safe, you will see capital flight which will hurt the english economy. david: by the way rupert murdoch spoke about the pending vote this morning talking to our own neil cavuto and he mentioned david cameron, who a lot of people say he hasn't done a very good job speaking up for the
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union. let's hear what rupert had to say. >> if they lose it, if yes wins it, he will probably have to go. i think you could say about 70% likelihood. david: would david cameron have to step down as pm if he loses this vote? >> oh, definitely. the question is, if the vote even, if even they preserve the united kingdom will he have to step down? he botched this from the get-go. for example, david, there are 800,000 scots living in england. some temporary residents, some full-time residents. they're not allowed to vote in this referendum which is astonishing. he allowed 16-year-olds to vote in scotland instead of usual 18-year-old age limit. those people have been imbibed, 16-year-old, you think anybody is possible. >> right. >> he also didn't allow on the ballot a second choice, is that more devolvement, more now power to scotland instead of full independence. he refused to put it on the ballot.
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every way he made a hash of this thing and deserves to go to put this country in jeopardy like it is now. david: we talked about effect on currencies. a lot of focus on our own currency with the fed decision. i want to get your impression of that. i want to play another clip, if you don't mind from rupert, talking about what the fed is trying to do by its actions. play that clip. >> look, i think the problem has been the fed and the same here, the central bank trying to create jobs by printing money. david: is the fed helping to create jobs by what it is doing or hurting? >> hurting. david: how? >> they're hurting because they still made it difficult for banks to lend to small and new businesses. most new money still has been going to the government. they eventual loued interest rates to reach a natural level. like the old soviet union where they said health care is free but you can't get any. having artificially low rates hurt the supply of credit to those most vulnerable in the economist. so the fed has been amassing power.
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i hope janet yellen will surprise us and allow new credit markets to function again. right now they're still in this artificial paralysis an job creators are being hurt by it. david: steve forbes, great to see you. don't forget, catch steve every weekend, 11:00 a.m. on saturday. "forbes on fox." do not miss it. liz? liz: he might like the stronger dollar lately, right? it is a movie that may change your attitude about fuel forever. a brand new documentary looking at the future of energy in our country. could new replacement fuels create more jobs, lead to healthier economy? but it is not an anti-oil story. we're talking to the associate producer and former shell oil u.s. president about this new documentary, "pump "next. the new marijuana market expected to hit, you believe this, $8 billion in the next four years. what do you do if you want to get on the industry?
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to annualized rate of 956,000 in august. this is the biggest drop in 16 months. >> number of new applicants for unemployment benefits dropped last week to the second lowest level in 14 years. jobless claims fell by 36,000 to 280,000. liz, you got an old friend with you. liz: yes. you know what? i'll tell you something. with u.s. gasoline prices barely above $3 a gallon and that is not even that bad, there is a new documentary. it is called pump. it brings to light the benefits of alternative replacement fuels so we don't have to worry about the bad guys overseas who own so much of this oil. it also focuses on why hostility remains between oil companies and the consumer. here is what one former oil executive in the film had to say. >> the american people don't like oil companies. and they don't like the executives who run oil companies who they don't even know. in a public that so relies on
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transportation as a way of life, the main suppliers of that transportation, meaning the oil companies, are really not favored at all. there is hostility that exists between oil companies and consumers. i can remember one of the senators looking over his glasses at me and questioning how i slept at night. liz: well, here to explain how he sleeps very well now as he is part of this new movie, "pump." former shell oil u.s. president john hofmeister also the movie's producer ann norman. great to see you. >> thank you. liz: this documentary has been a long time coming because people need to focus on what is the next thing to get us off and wean us off, not just overseas oil but oil overall. ann, what is your trailer line to grab viewers for "pump ," the documentary? >> in the trailer we want people to first fee the pinch. you said gas prices are high. they're horribly high. we want people understand the
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pinch they fully understand. it is hopeful. there is something we can do. there is a solution. it is not an oil-based solution. it is alternative fuels. different kind of fuels. liz: let me clarify. of the gasoline prices are actually pretty low compared to past couple of years. we know all it takes one bad headline like isis takes over iraqi oil fields. >> right. liz: they're trying to, trust us. we don't want to get to that point. john, what is the answer? it doesn't necessarily mean extricating ourselves from actual big oil companies. including them as well as other opportunities, correct. >> this is taking entire american capability to produce fuel whether it is oil, whether it is natural gas, whether it is biofuel, whether it is electricity for electric cars, putting it all together and giving americans choice for what they put in their vehicle. it is choice that brings competition to the gas pump. it is choice that uses natural gas as a transportation fuel. as ethanol, as methanol.
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it includes oil companies because they produce oil, chemicals and natural gas. liz: hold on one second. we'll continue this in a second. jo ling has breaking news. jo? >> liz, home depot says 56 million cards were at risk in a data breach earlier this year. just to give you some perspective on this, 40 million were actually accessed in the target data breach. so this is even more than that. now home depot coming out with new information just a few moments ago saying that the malware in that breach has been eliminated but this malware was present in both april, actually between april and september. so, they say that pay terminal encryption projects were completed in september 2013 in the u.s. 56 million card may have been accessed in this data breach that home depot is dealing with right now. something else that you should know, especially if you're one of the people involved or touched by this. banks and credit unions today started reissuing credit and
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debit cards to people who may have been affected by this breach already. so, liz, a developing situation but a huge number. back to you. liz: stock not getting hurt too much right now. thank you, jo ling. let us get back to john hofmeister and ann. as you look at all the alternatives john makes an excellent point and i look at this and say you can't force gas station to offer 50 different options. at some point don't we all need to see one or two winners in all of this? we saw the government try to set out edict about ethanol? and that had weird effect on corn prices and things like that. how do we figure out who are the winners and do we let the free market work here? >> you said it. we're believers in the free market. people will choose if they have choices, john said. get some competition in there. we are, we like natural gas-based fuels, alcohol fuels. ethanol can be made from natural gas as can methanol. methanol is used in race cars.
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liz: why is not natural gas and cars run on natural gas getting adopted more? i say, we got so much of this, john, yes yet it is not happening. and the auto industry are they not pumping out enough of these cars using word pump? >> yes they are, they are need software to be adjusted cars not marked flex fuel vehicles. they have the software capability to become flex fuel. it is illegal to change your car over. liz: that is ridiculous. >> there are really two. one to be able to change their cars from gasoline fuels to multiple fuels, make it flex fuel. that is software adjustment. secondly we need to get methanol declared a legal fuel by the environmental protection agency. if those two steps were taken and no taxpayer money really involved, it is all private money that can invest in this new infrastructure. but ultimately, liz, consumers will go with price. after all the studies that the oil companies have done for 100 years, people choose gasoline
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based on price. liz: they do. >> natural gas is so much less expensive than oil. liz: how about electricity? because part of your documentary includes elon musk who was here yesterday in a fox business exclusive, he of tesla? this morning maria bartiromo had carlos ghosn of nissan. he was visionary trying to mass produce these things. don't we need adoption more quickly so we figure out how to avoid the middle east earn terrorist trying to take over the oil fields, we an can say do what you want, we don't need you anymore? >> we love electric cars. we love all of them. we're big fans of tesla and big fans of elon muck obviously and he is a big champion in this arena. we think there is not enough battery capacity right now. the battery capacity has to be ramped up before mass adoption. we think alternative fuels, ethanol, methanol, natural gas
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provide a stopgap in mass development of mass battery capacity. liz: where can we see the film if anybody wants to see it. >> times square at 42nd street cinema. liz: what if i'm not in new york. >> in los angeles. pump the movie.com. you will see where we're opening and when. there. are staggered dates around the nation. go to the website, pumpthemovie.com. you will find times and location. >> great to have you, john hofmeister. i think it is great, finding solutions and not being vicious about big oil. either way there are many opportunities. let's hope america shows leadership. >> thanks, liz. liz: the film is called, "pump ," dade. david: i will be watching for it. he is called the steve jobs of weed. we'll talk to a ceo of a company who is trying to help entrepreneurs profit from the marijuana economy which is already worth more than $2 billion. how do you deal with the drug's
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negative baggage? a foiled isis plot to abduct people in australia and behead them, a blunt reminder of the threat of islamic terrorism bleeding into western countries. we'll bring you the latest on australia's biggest ever anti-terror raids coming up. $21. could something that small make an impact on something as big as your retirement? i don't think so. well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. ♪ hard it can be...how ...to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment...
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liz: the u.s. marijuana market worth 2.2 billion an growing very quickly. the pot industry could reach up to 8.2 billion in just the next
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four years. david: wow. kc stark is ceo of marijuana business academy. this is colorado-based company that help so-called ganja entrepreneurs help with regulations. good to see you. >> good to see you. new word and opportunity. david: i like that new word. i have to say, there is a lot of information how marijuana can be very helpful with particularly people on chemotherapy all kind of things but there is negative baggage to the drug as well. a very serious negative baggage and not all of it is crazy stuff. "reefer madness," we're not talking about that. there are peoples who lives have been destroyed by the drug. there are peoples lives, led to other drugs and or in fact just, smoking marijuana on a consistent, day-to-day basis. i know people whose lives are ruined by that. how do you deal with the negative? the positive baggage i heard a lot about that, i believe that and there is negative baggage to
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it won't you admit. >> the problem with america's problem with war on drugs, marijuana is plant with absolute healing powers. david: i will stop you right in your tracks, casey, you have to deal with the question. what about the negative baggage. there are pretty bad stories of people that abused marijuana and really had tough lives as a result. how do you deal with that? >> i would really, like to redirect your question because the problem in america is the war on drugs created an incarceration nation. cannabis is absolutely healing plant. david: you're not dealing with the question. >> abuse comes from, you can abuse power. you can abuse anything in life. it is no the plant that causes the abuse. it is the person. liz: well the news that you're here to talk about is regardless of how people feel about it, if it is legal, and people are sprouting up businesses around this, you're there to help them understand how to make their businesses viable. you've got some seminars. what do you teach people about running marijuana businesses at your academy?
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>> this is amazing this is the end of prohibition. for 08 years we've had a war on a plant. it doesn't work. colorado has proven that. the first six months we have raised $200 millions in sales, $40 million in sales taxes. home values are up. unemployment is down. marijuana is a live safer and job creator. liz: but the businesses and how they should be run. you don't want people to fall into traps, i'm running a marijuana business. >> oh, no. liz: you want to make sure it is viable and lives. what do you teach people about that. >> we teach rules and regulations and a to z. it is very complicated. each state is different. 23 states offer medical marijuana options for business. and this is the beginning of the end of prohibition and the start of an economical social revolution that is going to create tens of thousands of new jobs. david: very quickly, the feds, how do you deal with the feds because they very often will override state policies. >> very good question. the federal government is starting to show movement.
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department of justice, eric holder, the administration, has allowed us to proceed down this path. look at america. we're supposed to be a federation of states where each state can incubate and create their own ideas. we're a federation of states. colorado has proven that when you compare the business of marijuana to "reefer madness" and incarceration nation, the business of marijuana is much better. at the academy we teach you how to take advantage of rules and regulations so you can succeed. we have a seminar coming up on 27th. we're going here in new york from weed street to wall street. marijuana is global commodity from mile high to cap pal. david: i running out of. i like your tie clip. >> marijuana business ad my.com. david: australian police smashing isis plot and people
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threatening to behead. liz: one inventory come up with a way to put the brakes on that habit. we'll tell all about it when we take you off the desk. [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. a research tool on thinkorswim. an unprecedented program arting busithat partners businesses
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david: australiaian police thwart ad grisly isis terror plot today. liz: even 21st century fox chairman and ceo rupert murdoch, the chief of our parent company, commented on the police raid this morning. adam shapiro joining us. what is the latest on the raid and those who were arrested? >> still trying to get information on the number of people and who they are actually are but the raid in australia, liz, the potential homegrown terrorists who may sympathize with isis can plot attacks as far as away from middle east as they wish. hundred police officers rounded up several suspected terrorists. australian police are holding six people who they say were planning to kill an innocent person randomly picked off any street and cut their head off. the australian attorney general that a person born in afghanistan, who previously lived in australia but now work with the islamic state group isis in the middle east, ordered isis followers in australia to
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carry out the gruesome attacks of the prosecutor in australia said the plan was designed to shock and horrify the public. 21st century fox chairman and ceo rupert murdoch actually praises the aussie security forces who stopped all of this. >>hundred police went right through muslim areas of cydey and melbourne through the night, arresting quite a number of people. and alleging that they have uncovered plots for, the public killings and beheadings in the streets of sydney. very, very sensational news. they, the intelligence services there absolutely first class. >> australia estimates that 60 of its citizens are fighting for isis. and that 100 citizens in australia are actually supporting terrorist groups. david: our own adam shapiro. thank you very much, adam. check out the rest of can view
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toes's interview on "cavuto" eight p.m. eastern time on fbn. liz: so many things to worry about on the road but watching out for drivers texting should not have to be one of them. with when he take you off the desk, we'll talk about a new company looking to save lives and shut down the practice with breakthrough technology. david: coming up, we'll tell you about unusual high paying job that opened up in new york city. can't be afraid about getting dirty. we'll tell what you job that is and what skills you need, straight ahead. ♪ [ breathing deeply ]
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introducing cvs health. because health is everything. david: time to go "off the desk." as liz was mentioning texting while driving make as driver 23 times more likely to crash. while drivers talking a cell phone four times as likely to get in a crash but people still do it. statistics like these and death after business colleague that drove a chemical engineer to
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develop a system that blocks drivers incoming and outgoing calls to text, a small black box plugged into a car's steering column and checks while driver is on the road and stops delivery of texts during at that time. >> good. city is looking for an official blacksmith is hanging up his hammer after working for the parks department for three decades. the city is on the hunt for a handiwork man to take his place for a hefty $100,000 a year salary. the job description calls for someone who can forge and shape angle irons, bridle irons, tools and automobile parts. david: i can do that. >> applicants must have five years of full-time blacksmith experience. my grandfather was a ferier. david: i would love to know how to do that. number two thing to watch tomorrow, the results of from scotland's independent vote. with the polls close in couple two minutes. we'll bring you the latest on
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the decision on fbn. >> the number one thing to watch tomorrow, alibaba ipo. it is expected to price at any moment. hasn't yet. poised to become possibly the biggest ipo in history. when it happens fox business will be right there. could happen any minute. david: including during the willis hour which is next, gerri. you have tons of breaking news including the alibaba ipo pricing and the scotland vote. gerri: liz and dave, that's right, we're covering it all. lots of big stories. hello, everybody, i'm gerri willis. tonight we're covering two big stories. one the launch of may be the biggest ipo ever, the chinese e-commerce giant alibaba going public on the new york city tomorrow. tonight we learn the pricing of those shares. should you think about investing. and two, the vote for independence for scotland tonight where polls are just now closing and that is where we start. fox business's ashley webster is in edinburgh with the latest. ashley? >> yeah, hey, gerri. you just said

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