tv MONEY With Melissa Francis FOX Business November 13, 2014 2:00pm-3:01pm EST
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warhol's 1966 portrait of actor marlon brando fetched$0 million. that is the very latest from the art world which continues to break new records. speaking of which, melissa francis is with me now. "money" starts now. melissa: thank you, my way or the highway. president obama ignoring a resounding midterm loss, digging in for congressional throwdown. someone cut his mic already. another brilliant remark from obamacare architect jonathan gruber. the man who has called us all stupid, this time taking it one step too far. box office of biblical proportions. faith-based films like "noah." "son of god quote raking it in. kirk cameron says why americans are wired for religion. that is what he said. why hollywood is becoming a believer. a man who got his money's worth at the oliver garden with unlimited pasta bowl, my dream come true. even when they say it's not it
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es always about money. melissa: president obama's bipartisan rhetoric after the midterms apparently just lip service. fox news is learning that the president is firing up his mighty person unveiling an executive order on immigration order next friday. as senate prepares for a vote on keystone pipeline the white house already hinting at veto. here to discuss we're waiting on very own charlie gasparino. we have empty seat on the set. i'm sure he will power in her any second. veronica daguerre from "wall street journal." jack otter from barron's. thanks for you two guys being on time. veronica, the president is doubling down on policies that got his party kicked out of washington. >> he seems to be committed to that and america -- melissa: thanks for joining us,
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charlie. a seat right here. >> i'm sorry i was on the phone. >> keystone to go through. both sides of the aisle look forge that. looking to make that happen. because they want jobs created from that. they want that policy and they want cooperation in washington. i think, with the last election showed -- melissa: shows us we want cooperation? >> we want people to get things done. we don't want unilateral decisions. melissa: i don't think that is true. i don't think american people want things to get done. >> you don't think they want lower tax taxes? melissa: i don't think they want lower taxes. they don't want to see the president's policies get done. >> they want the republican party to figure out a compromise between the two. melissa: you want to get in here, jack. >> i agree with that. i don't understand the politics of the immigration move, if i was being machiavellian advising democrats i would say, let the republicans scuttle it. go out in 2016, say to hispanics i tried and i didn't do it. >> that is what he is going to do. >> if he pushes it through looks
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like he is partisan. he doesn't want to cooperate. by 2016 he won't get credit for that anymore. >> for barack obama, is very adroit politician, right? listen, that that is how he got through -- melissa: i don't believe that anymore. >> how he got through obamacare. melissa: i think he is tone deaf. >> that stupid stimulus package. melissa: is that what it is called? >> i think stupidly administered. but you know i think he is looking to basically, this is a good wedge issue for democrats, if you could pass this, push this through and republicans against it go right to the base. melissa: story that keeps on giving. by now you know the obamacare architect jonathan gruber doesn't think any of us are very smart including you voters. in case you didn't hear him before he was kind enough to point it out, for a third time. >> we just tax insurance companies. they pass on higher prices. that offsets the tax break we get. ends up being the same thing. very clever, you know, basic exploitation of the lack of economic understanding of the american voter.
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melissa: the lack of economic understanding of the -- >> he is right about that to a certain extent. he is right about that to a certain extent. obamacare always defied common sense. melissa: and math. >> and math. yet president obama was reelected on it. so i mean, i think, what he is an elitist liberal. he basically is -- melissa: laughing at the american public, making fun of them and laughing -- >> remember what president obama said, culture of conservative people. they cling to their guns and their religion? there is that sort of, i mean, listen, the left of this country is elitist and they hate middle america. this is where it comes out. make no mistake, the american people voted for barack obama twice and they, and obamacare defied rationality of both times. both times he campaigned on it. melissa: what do you think? >> i think it is insulting to americans being called stupid by someone incremental in this policy, absolutely. >> what about the policy, all the people meant to help,
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millenials, people who can't afford insurance and unemployed can't get insurance through their employer they can't afford it. adding insult to injury. >> sound like an academic. when republicans and democrats want something done. republicans say give tax break to people, let them the money. people allocate it more efficiently. democrats say let government pay for it. economists say that is silly argument, that is same thing. he making that same -- >> think about the media. melissa: he understood what it cost we would never have agreed to it. >> think about media reaction. mitt romney say something factually accurate. 47% of the population is on the government dole in some manner so they may vote for obama just because of. that. and that was like biggest story. this guy is elitist, he is jerk. this, that and other thing it hurt mitt romney's 2012 chances. one of the architects obamacare basically says the american people are morons. melissa: literally stupid. >> and we don't see that, that is not on the front page of
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"new york times." melissa: that's for sure. shares of walmart soaring on the heels of some positive earnings news. the company posting its first u.s. sales growth in seven quarters. but warning of trouble ahead, claiming health care costs and tax rates could trim future profits. speaking of health care costs, what do you think of this one, jack? >> you know, walmart is just not a good story. the growth has happened already i think. clearly the customer that they are serving is not doing well. you guys have talked about that for years, the middle class. high-end doing very well. so, i'm not a buyer of walmart here. if you're asking for stock advice. melissa: yeah. some breaking news right now on blackberry, just crossing the wires. blackberry ceo john chen just announcing its classic device will debut november 17th in new york, frankfurt and singapore. the stock, look at that chart. i'm sorry, december 17th, soaring on that. the stock is soaring on that right now. the new blackberry. it is the old blackberry. basically what he said. retro.
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>> i lost my iphone and so they -- melissa: lost your iphone? you never had an independednt phone? you hate apple. >> it was a droid, right? melissa: there is a big difference. there is a big difference. what is that thing? >> my non-blackberry. so i had my blackberry for three days and it was heaven. melissa: got it back. >> i miss the keyboard. melissa: you missed, why did you go away if you miss it? >> because it does nothing else. this thing is little computer. i get directions. i do all kind of things that blackberry couldn't do. >> if you need -- type everything that happens in your life. melissa: is this enough to do anything to sort of save blackberry? should they give up on the device? how do they go from being so ubiquitous to now just sort of languishing? >> you know, the kid today, they don't want -- seriously. >> making me feel very old and i don't like at at all. >> using instagram you doesn't need a keyboard. melissa: under30 crowd banking
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on financial forgiveness. "pew research poll" think 24% of the millenials student loan debt will eventually be waved off. this makes all kinds of sense. i don't understand how students sit there and stare down the barrel of more than $100,000 in debt and don't panic because they don't think they will pay it back, charlie. >> i pick ad graduate school, that was the bet school -- melissa: you went to graduate school? >> university of missouri. best place for cheapest amount of money. because i knew i would not make a lot of money as print journmallnalists. kids look and think just the opposite. they go to yale, harvard and study fine arts. >> you're late for show and saying bad things about harvard? >> harvard would play off. >> fine arts? melissa: one way or the other -- great connections with place like harvard. when you get out of harvard one way or another you make money. real tragedy -- >> is yale. it is jail.
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-- yale. melissa: subpar private schools that cost a fortune where you get folks go very deep into debt with no hope of getting a job on the other side. those are people who think somebody else will pay it off. >> names. melissa: i'm not going to names. >> like one of those liberal schools on the hudson river? melissa: not going to do it. >> for-profit schools, graduation rate is horrible. debt load is huge. that is one category. >> students are clearly in denial. they're not accepting reality you have to pay the loans. >> they won't. >> other option is default. >> i bet they won't. melissa: even if you file for bankruptcy -- >> you have to have the student loans for life. even dunne your social security. >> sounds like they do something or bond it out or something. melissa: biggest story of the day. we didn't want to be remiss and not point this out. charlie gasparino, showing off his workout regime over on "outnumbered" on the fox news channel yesterday. check it out. >> oh, my gosh. >> oh!
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>> all right. >> oh, my god. >> whoa! melissa: wait, show us the other part. harris faulkner gets on your back. here we go. wow. impressive i have to say. charlie is quiet for once. >> now here is the real, here is the rub on this. i did it with my suit on which is hard. >> didn't rip anything. very impressive. jack otter would you like to give it a shot? we could put veronica dagher on your back? anyone? charlie all you ever do is swear on our show. you do push-ups on their show? what are you thinking? we will think of a trick? >> you want to get on my back? melissa: no, yeah, i think that is little awkward in here. thanks, guys. top military officialings testify what is called our long and difficult struggle against isis. a panel weighs in on whether or not this is actually our fight. sticking the landing, a lander
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successfully touches down on a comet in outer space but it's location in the shadows could pose problems a back at home. "money" coming up. ♪ so i can reach ally bank 24/7, but there are no branches? 24/7 it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates.
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melissa: top military officials on hot seat in capitol hill about the fight against isis despite the president's decision to send 1500 more troops to iraq but defense secretary chuck hagel says, this is not our fight. >> what additional u.s. or allied military support do you believe it will take? >> that's a, very important part of what we are doing to assist the iraqi security forces. it is a comprehensive strategy. it is, i believe, can be done. but this is an iraqi fight. it is their future and. we can help, we are helping. we're doing everything we can. melissa: joining me chris harmer, senior naval analyst from study of i can't remember,
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stephen yates, international advisory. thanks you both for joining us. chris, let me start with you. everyone is emphasizing this is not our fight, this is iraq s that absolutely realistic. >> absolutely not. whether we want to interested or not this is our fight. the best way to defend ourselves against organization like isis destroy in place rather than wait for it to come here. it is beyond my comprehension and look at totality of the evidence say this is not our fight. they are coming after us. a matter of time before they launch a spectacular attack. i hope they're not successful but if we don't take them seriously they will be. melissa: stephen, we have 3,000 groups on the -- troops on the ground are now. >> the trajectory will go up. secretary hagel in his testimony didn't give inclination what their target is. he has nebulously defined mission. they talked about this being
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iraqi fight but that's odd. isis was born and bread in syria. so this is clearly a cross-border fight. i don't think we have any handle where the troop levels are going to go. the war itself is not moving in the right direction. melissa: one that takes money on both sides. secretary hagel talking about cutting off isis's money. listen to that. >> been able to not only disrupt that but stop that oil flow out of there that gets into the borders. and they were, they were, getting a few million dollars a day from that. they also get funds, contributions from inside. we tried to stop that through our intelligence communities. >> i don't know, chris, are we doing that effect tiffly? >> not in the least. you talk about strategic incoherence. i think stephen used word nebulous which is about most charitable word you can use to describe the american approach. we've been fighting taliban for
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13 years. the afghan poppy farmers set a record for most opium produced if we can't stop opium being produced in afghanistan we'll not stop oil from being smuggled out of syria. they're not moving it around in supertankers that the u.s. can go and get. moving it around in small trucks. we can't stop. that we can't stop that type of finance. only way to stop a group like isis is go kill them where they are. melissa: meanwhile secretary hagel says isis changed its tactics. in what way? >> i'm not sure he knows what way they changed their tactics. they have taken territory. they have controlled it. they have taken some hits from us from the air. but basically they have moved and adapted to the battle space that we presented and they haven't diminished their capabilities. so there is questions about whether cities on the iraq-syria border will fall or not. all of it is basically a jump ball. i think they are in a fairly strong position. i wish our coalition was pushing them back. melissa: chris, do you agree with that. >> yeah, absolutely. jump ball is again the most
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charitable analysis i could make of this. isis has the strategic initiative. we have reacting to them. that ultimately wind up with them winning their strategic objectives. if we say that isis is an iraqi problem, what we're essentially saying that the entire syrian homeland of isis is off limits for consequential u.s. strikes. if that is the case, then isis will melt back into the civilian population, there is some indication they have already done. that then they become a terrorist organization we can't separate out from civilians. melissa: gentlemen, thanks to both of you. >> thank you. melissa: turning toes markets, a great day for stocks. all three major averages hitting new all-time highs. let's go to nicole petallides on floor of new york stock exchange. what is driving the trade? >> i was chatting with mark newton over at greywolf execution partners. he said look what oil is going off. it is selling off. it is down $2.50 basically right now. that pulled major averages off their highs earlier in the day. right now 74, 75 averages for oil. that pulled averages up.
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we can't discount the dow hit record all-time high today. s&p hit record all-time high today and nasdaq obviously highest level since 2000 but a lot of winners during the day but pulled back. jcpenney a name we've been focusing on, they're struggling with the turn around, flat same-store sales, melissa. mike ullman said november gotten off to good start. too early to call a trend but first 10 days were pretty good. they had a smaller loss than expected. cut full year numbers. mixed bag. the stock is down 8%. melissa: nicole, thanks very much. few stories on our radar, crude oil plummeting a few moments ago as supply swells. u.s. production last week topped nine million barrels a day for the first time in 30 years. that's huge. surprising deal on wall street. toy-maker hasbro reportedly wants to buy dreamworks. talks are said to be in the advanced stage and hasbro would pay for the hollywood studio in both cash and stock. radioshack is backtracking
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from its thanksgiving plans. the troubled retailer, originally wanted to stay open all day. now it is saying you know what? we'll take a quick break from noon until 5:00 p.m. seven hours of nail-biting comes to an end for scientists. video at a historic landing putting space in the spotlight today. plus an offer you can't refuse. don't check the basement if you buy this house. can you guess which famous family lives here? you can never have too many cannolis. ♪
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higher better-than-expected earnings. the outlook wasn't as impressive. cisco says, revenue will rise by only 3 to 7% this quarter. hardly 8% they previously told investors t was enough to please the street. shares up more than 2% right now. ceo john chambers has more than 6 million shares, meaning he just made an extra 3 million bucks. that is so nice. he will be joining liz claman and david asman today on "after the bell," 4:00 p.m. eastern. you don't want to miss that. hoping to make money off something a little bit sensitive? the fiance of ebola victim, thomas eric duncan, she has a book deal. a memoir scheduled to come out next april. how her life with duncan and how her faith is tested and not broken. also making money, the new york mafia, well, south of the staten island home featured in "godfather" movies is up for grabs. the listing price is three
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million bucks. all the rooms were remodeled to look like those in the movie. it is an offer you can't refuse. get it? melissa: melissa: who blood is going biblical move faith based movies are crushing it. why are they resonating with audiences. kirk kerkorian cameron is with me now. his latest film opens door, saving christmas. why do you think the films are successful, like "noah" and god and kings coming out? why are they so popular. >> that is great insight that these movies are resonating with people. god is not dead and "heaven is for real" and all kind of other films we can point to. i think, well, could tell you number one they're really working because people are showing up in the theaters which means they want to see more of these kind of movies. i've always believed that these stories and these themes, it is in our dna, right?
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i mean is we want to see movies about faith and about hope and sacrifice and redem shun and love. we love these things. in fact that is what most good hollywood stories are all about. and i think that, at the end of the day, this is getting a little deep, but i think god is wired us in such a way that we respond to stories like that. because that is the ultimate story. and that is the story of christmas. there was someone who came, he was born ultimately to die. and he sacrificed himself to rescue you and me. and that is what the story of christmas is all about and i think that's why we feel this sense of, of magic and hope and wonder at christmastime. melissa: you had success in this arena before. in 2008, you did "fireproof." made half a million dollars. grossed 33 million. is there a formula that works? you will see more people jumping on this bandwagon. there are probably pitfalls to it. what do you think works? >> well, you know, i, there's a
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conflict with movies like this. you know, you could have a movie like "noah" may work on visual level, may work on level of thrilling you but if it doesn't work in terms of being faithful to the actual text of the scripture from which it came, the bible, then you've got a group of the audience who will be very unhappy with that because to them the message is much more important than the images. and so, what i try to do is make movies that are, that are true to the faith, that are true to what it is really all about, and present it in a fresh way. and i think that's, that's what will always work. i, i hope that i have done that with "saving christmas." the response so far is that people come out of the theaters, in our test screenings, laughing. they say i loved that. it was sop fun. i learned things that i never really knew, especially about santa claus, christmas trees and
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the nativity. melissa: your movie only comes two weeks. two-weaken gangment. what is the business strategy behind that? >> wealth business strategy is i don't have a $100 million to keep it in theaters for six weeks. so -- melissa: that is pretty straightforward. >> theaters across the country. if we fill up the theaters opening weaken, what happens other theaters say wait a minute. what is going on? we're missing out. so they will pull the movie across the country in more theaters. more of america can see how we saved christmas from all of the scrooges and all of the, the up tight religious folks who don't want to have time for all of the traditions that can actually enhance our celebration. melissa: kirk -- >> we can do that with joy. melissa: good luck to you. i will bring my family out to support you. we appreciate what you're doing. good luck to you, kirk. >> all right, thank you. take care. >> it's decision time. the house and senate finally want an answer from the
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we asked people a question how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to like, pull it a little further got me to 70 years old i'm going to have to rethink this thing it's hard to imagine how much we'll need for a retirement that could last 30 years or more. so maybe we need to approach things differently, if we want to be ready for a longer retirement. ♪
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for all the confidence you need. td ameritrade. you got this. ♪ melissa: the house begins debating today and will likely pass it tomorrow. the senate votes tuesday, and it could pass there too. let's get straight to rich edson in d.c. for the details. >> reporter: well, melissa, the obama administration has delayed its decision on whether to approve the keystone application citing a lengthy review at the state department. if it makes it to the white
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house, the administration refuses to say what president obama would do. >> there has been, other legislative proposals have been floated to try to influence the outcome of this decision about the construction of the pipeline. the administration, as you know, has taken a dim view of these kind of legislative proposals in the past. >> reporter: well the white house is unclear as to whether the president will sign a bill that will allow construction, the administration is clear in its intent to unveil an,tive action this year on -- executive action this year on illegal immigration. the administration is urging the house to vote on the immigration bill that the senate has already cleared. republicans warn an executive action on immigration would thwart efforts in the house to pass its bill. back to you. melissa: rich, thank you so much for that. from keystone to immigration, the president is doubling down on the policies that got his party kicked out of washington. with me now, we've got steve hayes of the weekly standard and steve moore from the heritage
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foundation. steve hayes, let me start with you. how does the immigration thing play out, do you think? >> it sounds like the president's going to move forward. he had members of congress over last week, and he told them, in effect, compartmentalize what i'm doing here. i want to do it my way, but don't hold that against me. melissa: right. [laughter] >> you've obviously heard that congressional republicans that it will poison the well, it gives a sign the president didn't pay any attention to the election results of last week, and i think it will lead us back to the gridlock, maybe exacerbate the problems we've had over the past couple of years. melissa: steve moore, is that how you think it'll play out? >> yeah. it's amazing to me obama's been so belligerent. it's like -- melissa: he's angry. >> steve, i'm not so sure that he has heard the voter message, so you've got this on the internet tax and regulatorien forcement, you've got this now
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on the irs. it'll be very interesting, melissa, if the house and senate passkeystone pipeline -- which i believe that they will -- if that comes to president obama's desk, i don't know how he's going to, whether he will sign that or not. but, you know, a lot of democrats are putting pressure on him because they think it's a way to save mary landrieu's seat in the senate. melissa: yeah, no. i mean, i definitely don't think he's heard the american public. he said in interviews afterwards it's not enough to build the better mousetrap, you have to make sure people understand. and he basically said much like gruber that we're stupid. if we just understood, if we listened better, we would like him more. go ahead, steve. >> only one out of three voters voted in the election, so i guess it's not a legitimate -- >> and he speaks for every one of the other two-thirds. >> he hears them. melissa: let me ask you, how do you think the keystone thing plays out? >> i agree with steve. i agree it's likely to pass --
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melissa: do you think he'll veto? >> yeah, i think he will veto it. i think he'll say we're not ready for it, the state department's still investiting, we've got to let the court case play out. but he could have done this three years ago. >> he should have done it. >> i don't think, a, i don't think it will actually save mary landrieu's senate seat and, b, i think it's something the president doesn't want to do. melissa: so if he vetoes it, where do we go from there? stephen moore, what's the reaction? how do the dominoes fall after that? >> i think the american people are going to be extremely upset. look, this is a president, this is about fossil fuels. this is a president who doesn't like fossil fuels, he just signed this phony agreement with the chinese saying we're going to reduce our carbon emissions and fossil fuel use by 25%. what's the point of building a pipeline if you're not going to use oil and natural gas? melissa: we've heard from the american public again, it is the -- >> it's jobs.
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melissa: but they are counting on america's lack of understanding, stephen hayes, does the public understand well enough this is bad for everyone's pocketbook? >> i think they do. my mom in wisconsin count wake up in -- doesn't wake up in the morning and think we need keystone pipeline immediately -- [laughter] but she understands it's good for the country, good for the economy, that the president's been dragging his heels. i don't think you have to be an energy expert to understand that this is something that should be done, that it's passed scrutiny that it's been put to by the state department -- melissa: we gotta go because we have some breaking news. crude is ending trading for the day at its lowest level in four years. look at that price. look at the selloff into the close there. that's very telling. it's sitting at $74.30 right now. it is down 3.85%. that is the biggest drop in a month. look at that. a bitter freeze hitting most
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of the country this weekend. pass the hot chocolate, and we'll tell you who should expect some snow. plus, professor obamacare? he can't stop telling us how stupid we all are. we are all fired up. i know you are too. tweet me @melissaa francis. >> too stupid to understand it. >> and, basically, you know, call it the stupidity of the american voter --
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♪ ♪ melissa: i'm melissa francis with your fox business brief. the deep freeze continues, an arctic invasion of ice cold air is plunging into the plains, rockies and midwest. and it is getting worse. subzero temperatures are possible in ten states over the next week. brr. apple shares again hitting new highs, rising more than 1.5%. analysts at bernstein see an increase in the price target to $120. apple shares are up around 40% on the year. nice for those folks. and the nation of qatar gets to keep world cup in 2022. it was cleared of corruption allegations which claim the country won the tournament by offering bribes. fifa says no major violations
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you pay your auto insurance premium every month on the dot. you're like the poster child for paying on time. and then one day you tap the bumper of a station wagon. no big deal... until your insurance company jacks up your rates. you freak out. what good is having insurance if you get punished for using it? hey insurance companies, news flash. nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. see car insurance in a whole new light. liberty mutual insurance. melissa: complications for the first spacecraft ever to land on a comet? new pictures showing the lander resting in the shadows of a cliff. this is bad news for the solar panels needed to keep it working. hopefully, this doesn't put a
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damper on the unbridled joy of the european space agency. sign terrorists celebrate -- scientists celebrating the landing like they'd won the super bowl. this was, without question, our very favorite. today she is partying like a rock star! we loved it. heading into the last hour of trading, let's check in with liz claman and see what she's got coming up. liz: we're watching the dow trying to cling to the chance at a sixth record session in a row. you've also pointed to oil? wow, this was unbelievable to see oil at a four-year low. we're looking autoowl that have -- at all of that and more. this is going to be something nobody has really seen. we are taking you in a fox business exclusive inside the cockpit of an f-35. this is the department of defense's and lockheed martin's most expensive and most advanced fighter jet, and guess whose stuff is in it? alcoa. the head of defense is going to be joining me ebbs clues ily --
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exclusively to show you why their opportunities in defense are going to be such a game changer for the company which, by the way, the stock up 87% year-over-year. and how about just paying a mere $10 to meet bono of u2 or magic johnson, can you believe that? guess what, you also get the writeoff. charitable giving, you know fox business has been looking at that all day long. we've got the company that enables you to do it in a raffle-typeset up. it's called omaze, and we've got the two cofounders coming up. there's so many more celebrity opportunities, you could also bid to be in the new "star wars" movie, melissa, we know you're so good at it. you don't have to bid, they should already be inviting you. plus warren buffett's exclusive comments about buying duracell. melissa: liz, thank you so much. it is no secret that i am a huge olive garden fan and disappointed i didn't partake in
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the never-ending pasta deal. i have been living vie cower yously through our -- say chiropractor yously through our next guest who was able to grab one of the passes. robbie porter joins us now. robbie, i have been so excited for this interview. i want to know because, basically, everyone broke the internet when they put these things up in order to get them, but you managed to snag one. how did you do it? [laughter] >> thanks for having me on the show. so i kind of figured that the web site would crash, and so i got the help of six of my coworkers. basically spent about 40 minutes continuously refreshing the site until one of them got in and was able to add it to their cart, and i just ran over the -- to his computer -- melissa: you were committed. you staffed it, i love your attitude. you ended up going 88 times in a 50-day period, which is astounding. obviously, multiple times a day. what was your favorite dish, and
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what did you get really sick of? >> my favorite was the, like, fettucini with five cheese marinara. that one i probably ate a little bit too much. [laughter] my least favorite was actually anything with topping on it. it was the meatballs. those things were the bane of me, and they're actually pretty disgusting. [laughter] melissa: oh, yeah, they won't like hearing you say that, but, you know, um, what was the reception from the staff like? whatdid they get sick of seeing? >> no, actually, they began to welcome me by name. everybody there at the fremont location was just amazing and really easy to talk to, and they kind of welcomed me like family. melissa: you're amazing, you ate $1,230 worth of olive garden food. did you gain a lot of weight? >> um, i haven't actually gained any weight, i was watching my macros pretty close, and i went to the gym just about every day trying to work off those extra
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carbs. [laughter] melissa: robbie, congratulations to you. you're my idol. i love olive garden. thank you for coming on, we appreciate your time. >> yeah, thank you. melissa: spreading the wealth around, expert advice on how to tackle the tricky conversation of inheritance. plus, raiding the pyramid -- is there no security around those things? can you ever have too much "money"? ♪ ♪
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yo, bro, you on woo-woo? are you kidding me? everybody's on woo-woo! [elevator bell rings] woo-woo? lock and load, people! we're going all in on woo-woo! mark! comp us up a profile page! susie! write us some posts! i want sponsored woos. i want targeted woos. we need an ethnically ambiguous woo-woo mascot. dude. are you still on woo-woo? naaaahh, man, my mom's on woo-woo. ♪
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center. that is quite a mouthful. she will be a liaison, this is what they're saying, quote: to liberal groups in the base to insure that they have a voice. hmm, very interesting. all right, from the u.s. to every corner of the globe, money has been flying around the world starting in the u.k. where there's a government-run phone line for people concerned that a their pub is about to close down. pubs in the country have been shutting down at a rapid pace ever since the financial crisis. now locals can call and get funding and take over their favorite watering hole if ever they face trouble. this is important. the scheme has already helped hundreds of pubs. cheers to that. over to egypt where three germans and six egyptians have been sent to jail for raiding the pyramids. is nothing sacred? they were sentenced to five years for pretending to be researchers and stealing precious artifacts from the largest of the three landmarks. among the stolen items was an old scroll as well as ancient one of a kind rocks.
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i hope they were worth it. all right, landing in india where the government has just appointed a miner is of yoga -- minister of yoga? the new official will oversee traditional exercises. the country's prime minister is said to be a huge yoga fan and says it can be used to fight climate change. fight climate change? hmm. i'm going to have to think about that. all right, the inheritance conversation, nothing could be more sensitive or stress areful for families than discussing how they're going to carve up what's being left behind. it is tricky, there's a way to do it. joining me now is diversified financial president, dominic katella. people have something to leave to their kids, nobody's working, everybody's house is worth zero. i can't believe anyone has anything to worry about leaving to their kids. >> look, in all fairness, if you look at the average family today between the value of their home, maybe a 401(k) plan, maybe some
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savings, it's not unusual at all to see somebody pass on to their heirs $250, $500,000 and a million is actually common plus. melissa: really? wow. >> i think when you're talking about middle america, though, that's less common. especially as the cost of living goes up, people aren't getting raises, they're having to work longer, they're not saving enough in their 401(k)s, we know especially women aren't saving enough, and they're having to support their younger kids who might have school loans, so there's a smaller pot of resources -- melissa: it's still important to have the conversation. >> right. you should start it early. melissa: and how do you start it? >> start talking about, you know, especially if you are of some means, you don't want to deny that fact. kids might say, oh, mommy and daddy, are we rich? you don't have to say no. you want to stress what's really important to you as a family if it's not money, perhaps it's being a good person, it's giving back to society. it's hard work. melissa: go ahead. >> so our client base is
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somewhere between 55-65 years old, and this is literally the core and tail end of the baby boom generation. these are people that have literally worked hard their entire lives, financially and fiscally responsible, they have their houses paid off. they really don't think of themselves as millionaires but, in fact -- melissa: if you put all your assets together, they are. >> yeah, i ask them -- i'll ask them, do you think of yourself as a millionaire? absolutely not. believe me, they have a substantial net worth. the problem is that they need to have these conversations with their children. they need to to go this is how we want to transition these assets over, and they're deathly afraid of having that conversation. they'd rather walk on hot coals than have a conversation with their own children. melissa: okay. we'll work on getting brave. thankthankthanks, you guys. here on fox business liz claman will be talking to the founder of omaze in the next hour which handles celebrity auctions and, an experience for charity.
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i love that. nothing instills more confidence in our government than learning that they count on our lack of economic understanding to get their work done. the gruber fallout continues yet again. if you are as outraged as i am, tweet me. stick around. at the end of the day, it's all about "money." ♪ ♪ so i can reach ally bank 24/7, but there are no branches? 24/7 it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates.
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ask your doctor about cialis for daily use so ally bank really has no hidden fethat's right. accounts? it's just that i'm worried about you know "hidden things..." ok, why's that? no hidden fees, from the bank where no branches equals great rates. >> it's a very clever, you know, bc exploitation of the lack of economic understanding of the american voter. melissa: did you hear that? pause that is the reason -- because that is the reason that i get up in the morning, it is the reason that i come to work here at the fox business network every day and not somewhere else. it is the reason this show exists. it is why we work so hard for you. because there is a world out there, especially in washington, that is counting on your lack of economic understanding. they are counting on you to not
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do the math. so disappoint them. don't let them get away with it. you have the power. watch our show, watch our network. arm yourself with the facts and then you decide for yourself and hold them accountable. it is my reason for being here, and i hope that you will join me every day. we cannot let them get away with it. veronica and jack are back with us. help me -- >> here, here. melissa: they're counting on americans to not do the math. >> that's right. and they wonder why americans are so cynical and not trusting of the government, and things like this. melissa: again and again. called us stupid three times so far. >> right. and insults people's intelligence and makes them feel terrible about the choices that they're making. it's really upsetting. melissa: jack, what do you think? >> unfortunately, there is not an honest relationship between the government and the people. so, for instance, every single
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year we spend more than we charge the people in taxes, to put it bluntly, because we can't come to agreement. people want certain things, but they're not willing to pay for it. melissa: thanks to both of you guys. thanks to you for watching. here's liz claman. liz: they really should, melissa. it is the last hour of trade. we are watching the markets very closely because the dow just turned positive a short time ago. we could see new record closes. we've also had a bunch of companies hitting record highs today, ones you might own, so stand by to hear if you're in the money. oil shocks the markets today as it oozes to a significant four-year low, crude hitting and then settling at a low of $74.07. that is putting a heavy toll on energy stocks. the s&p 500 energy sector down as crude falls 3.75%. we're even watching it in the after hours session because it is a big, big drop. and the
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