tv Varney Company FOX Business January 28, 2015 11:00am-1:01pm EST
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maria: welcome back. we are 90 minutes into the trading session. that will do it for opening bell. stuart, have a great show. stuart: we all should have listed. buy it. sure hope you did. we are talking out both. the most profitable country in history. the most valuable country. here is the real bottom line. apple dominates the market for the must-have product of the generation. the iphone rules. we look for other big stories. nothing compares to the apple
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blowout. financial history is being made. "varney & company" is about to begin. ♪ try this. see that. $18 billion. that is profit. driven by blowout sales of a new iphone six. more iphones sold in china. 34,000 iphones in our. they kept it up every hour for 13 weeks. $178 billion. that puts it at the top of the list for global corporate tax porters.
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if apple try to bring back cash home, they would lose about one third of it to president obama and the u.s. treasury. look who is here. charles payne. you have always been gung ho for apple. charles: no change. absolutely not. $600. that was june 29 2007. if someone would have done that every year, even the day before the new phones came out they would have $12,000 net in their pocket right now. stuart: you say as of today go out and buy for shares of apple
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stock, $480, and do not buy the iphone six. look at that chart. that ails you out. is this a must-have stock for anybody investing over the long term? >> i think so. stuart: to you think that tim cook is worthy? >> i think he will be completely taken out of steve jobs shadow. the watch, i think, will be a big deal. the apple pay is what takes this
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company to the next level. i flash is paying. ipay automatically. >> it takes him cook out. stuart: 1000 points. charles: over the next x amount of years. they should be able to do that. charles: i am not saying that we will not be challenged. >> they have a pretty good pipeline. stuart: let me move on to apples next big thing. the i watch. it hits the stores this spring. april, i believe. you have to tell me what this actually does.
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>> it will appear directly with your phone. it will give you a alerts. a lot of the functionality that we have seen in current smart watches. when bill gates left microsoft or step down at microsoft, he said he was proud of building a platform geared. stuart: in what way will the i watch be a platform westmark. >> it will be a vehicle for the next generation of applications. i think we will see it in mobile sales right here on your wrist. stuart: i am not buying and i watch to use it as a platform for the future.
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you have a samsung. what do you want and i watch for? >> this is a valid move. stuart: do we have any idea what the price of the i watch yet? >> it will start at $350. stuart: we are showing stuff almost green right now. do we know this for a fact? >> i wore one of those. back in september. i wore one of these myself. they would not let us play with it, but i got to wear it and look at it.
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stuart: dick tracy. is that the guy? who is the guy that had the floating shoe? [laughter] hi everybody. [laughter] >> millions of these will be sold in the first quarter. >> the entire studio is being lit up this morning. are you convinced that this is the greatest technology company today? >> that is a very hard thing to say. they are a huge company.
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>> it is not apple doing interesting stuff right now. stuart: who is it? >> the microsoft stuff that just came out was fantastic. >> fantastic. it blew my mind. >> i am not a financial guide. stuart: you thought that was more exciting. >> we will not walk around with helmets on. everyone is walking around on their phones. charles: when it comes to taking these things and turning it into money. no one is better than apple. samsung is more or less throwing in the towel on phones. they took 500 engineers and moved them over. they are, more or less, throwing
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in the towel. samsung is going to knock out iphones. they quit. stuart: mary, we you bite and i watch? >> yes. stuart: charles? >> absolutely not. >> i do not own an iphone. stuart: check the big work, please. we were doing well. we went down 16-20. now we are up for it teen. a weak outlook for the year. cheap oil will pamper demand. of nearly 5%. you were right, young man. stuart: told people to stick with it.
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[laughter] stuart: yahoo!. unveiled a plan to spin off tax-free. near $40 billion worth of holdings and aly baba. yahoo! up 48 this morning. check out aly baba as they are spun off. investors do not like that. charles: a little beef with the government. they did not acknowledge it to the chinese government. stuart: i have something in my ear. what is that? is that a command? president obama dropping his plan to tax the 529 college spending account. nancy pelosi criticized the proposal. mary, i do not remember a major policy issue. i have not seen this before from
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the president. >> extending the bush tax cuts was also a defeat for the president. it undermines the fundamental truth. mitch cannot find all of the democrats vast ambitions for a growing government. ultimately, you have to tax the middle class. it just does not fly. stuart: you have to retreat on some vague else. >> he will not go to congress for his climate change ambitions. they know it is a big tax on the middle class. charles: the state of the union address, one threat that went through all of it. rewriting the wrongs of
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yesteryear. somehow bringing back people that had an unfair advantage so they are ahead of the game. unfortunately, he still focused in on a lot of the. stuart: you have to appear on the program a lot more charles. colonel ralph peters. he is up after the break. we get his take on isis running airlines. also coming up next. this photo of first lady. we will explain the controversy. ♪
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of liquefied gas. next hour, we will talk to congressman bill johnson. i will call that a flat market. we have an extra $9 billion of stuff in storage in america. the price of gasoline still sitting at $2.03. that increasingly looks like a bottom. facebook has blocked users in turkey from accessing some pages deemed insulting. this is response to a court order from the government. now, here is your daily terror of day. we do this every single day.
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a missile fired in hasbro law lebanon. including an american citizen. he was a security contractor. jordan has indicated that a female suicide honor. it is a jordanian pilot. here at home, isis threatened to behead president obama in the white house. they said we will be coming here. the fbi is investigating the series of online threats against airliners the past week.
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sixteen flights have been grounded due to threats. nothing has been found on the planes. we do this every day. we do a terror update. seems to us that the terrorists are winning. we seem to be jumping any time they make any kind of move. do we have a plan, that you know of? >> no. on a very practical level, airlines are worried about liability issues too. if someone has a bomb on a plane, they do not warn you. they blow up the plane. i have had death threats from islam is. when people threaten you you
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normally do not have to take it seriously. >> an incredible threat. >> that is the issue stuart. credible. you have to react to that threat. if you don't, you are toast. >> we do not automatically ground airplanes. the terrorists know. at some point you just have to suck it up and move forward. we are allowing them.
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the human beings, we paid trillions of dollars out. the terrorists apart from to terrorists redirecting substantial portions of our economy. >> left not get into one-shot territory here. first lady michelle obama attracted attention by choosing not to wear a headscarf to saudi arabia. they are required to wear her wrap around the head. what you have to say about her not covering up? >> she is a better man than her husband. she gets these attacks from
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conservatives. she has done some decent stuff. she is a tough cookie. there is nothing wrong with trying to feed kids healthier lunches. you have two hit the nail on the head. stuart: i think you said it all. thank you very much indeed for joining us. i know you will be back. i need your comment, mary, on the shelf or not covering up. >> it would have been even better if bush president obama made a statement about human rights. stuart: they blurred out first lady. >> did he have to go at all?
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one do you put food waste in the trash can? if you tried that in seattle it might earn you a read and of sham. there's a new city law. it is illegal to put a lot of food into trash cans. over a certain amount and you would get a fine. they want you to compost the waist, keep food out of landfills. i don't have a problem with that. i hate food wasted. >> i hate new york. i have to separate my plastic, mighty are my trash, where does
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it end? it is ridiculous. i don't have time for it. stuart: you are -- >> people work hard, they don't have time to sort through their trash. "imus in the morning" when you don't have time for bottles. stuart: drag you in a couple hours. and why we are checking it, fractionally higher. airs a study by a group of protestors it blames walmart for making people fat. let's bring in professor peter morici. bose hi? >> i don't like composting or sorting trash either. what will you do with the compass? plan but in a single pot tomato plant? what you got in the corner, come
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on. stuart: can we move on? the relationship between walmart and obesity. professors like you peter morici, had come up with a study that said there is a correlation. i don't think there's anything to it whatsoever. a bunch of liberals trying to go after wal-mart and you say what? >> i got the burden of a ph.d. in economics and years of looking at these studies and walmart does lower food prices. in particular it develops junk food and expensively and processed food they lower the price, walmart is not exactly the place to go to live an upscale yet be diet. stuart: hetrick professor, come on. i can buy all the food at walmart, and yogurt and all
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kinds of things. it is my choice. are you buying into this? are you buying into the anti walmart jihad? >> i am not. if you make twinkies cheaper people will eat more twinkies. the logical conclusion is is the anti walmart things it takes you to the mayor of the city of new york who wants to put a tax on sugary food. i am for educating people and encouraging them to eat right. you can draw this conclusion but that does not mean ticket to its logical extreme and tax people for doing this. stuart: is walmart economically good for america? >> absolutely. absolutely. and getting the things that we want. cable-tv and all the rest, choice, lower prices makes us all better off. "imus in the morning" when you got to the good stuff right at the very end.
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instead of lecturing me about composting, shopping at walmart finally we got the right stuff from you and time is up. thank you very much indeed. we appreciate it. good luck. it is a rare win for republicans. it is a concession from president obama. the white house backing down on its plan to attack college savings. congressman darrell issa on that coming up next the first another question. on thursday in 1956 elvis made his national tv debut. heartbreak hotel. question, from which tv show did he appear? the answer after this. you just got a big bump in miles. so this is a great opportunity for an upgrade. sound good? great. because you're not you you're a
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maria: before my time. stuart: before my time too. he was my elder brother's favored. check the big board, we are up 22 points, 17-4 is where we are. apple is the stock of the decade. put up numbers that were extraordinarily. $18 profit in 13 weeks, best profit reported by public company anywhere ever and that according to s&p. a really big retreat by president obama. drop plans to make those 529 savings accounts. that was widely criticized by republicans and in came nancy pelosi, leading democrat, got to back down on this one. darrell issa republican from california joins us now. this is a big win for republicans but you only got there with help from the democrats, didn't you?
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>> we got there with help from san francisco area where 50 to $150,000 a year means you make enough not to give grants for your children but not enough to afford to pay for college for your children. this is a president that would tax everything including a fire hydrant if he thought dog owners would pay it. he likes to tax everything he likes to blame it on the rich. college tuition is so expensive that those so-called tax breaks are the only way for people to save enough for their children to go to college. kids at 89 not making much money so it is really about giving to the children something at a time they have no earning power without a college education. stuart: can you list any other e issues where you will probably get a lot of help from democrats change you can reverse some of the stated policies of president obama. can you give us a list of where you like it to win again? >> there is an opposite one.
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we have the support of the president but not a lot from nancy pelosi and other democrats though there are areas in which republicans can work with this president. when it comes to tax reform without a huge tax increase yet again probably not going to happen. stuart: something from your home state calif.. losing revenue from the gas tax because it is cheaper and driving more efficient cause. california is considering taxing people from miles they drive. what you going to do with this? >> they will tax the air we breathe in california if they can but we already have 13.3% income-tax, their complaint is when prices were going that they got used to these revenues without stated tax increase. now they have retrenched eight years ago ended suddenly there
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isn't enough money to retroactively did tax increases the year ago. stuart: it is not them. you save they -- it is you. you are from california. i am sorry to do this to you but -- >> the way we get taxes in california is the governor legislature and initiatives put things up and asks 51% of the population to tax 1% of the population and that is how they get it. the idea of a broadbased tax on people simply because they drive their automobiles no matter how we fissions or inefficient or electric and so on is going nowhere. end getting californians to engage in class warfare, always having a tax that the other guy will pay. california is up poster child quite frankly for what is wrong in government. california thinks the answer is a tax increase and texas is coming in and stealing the best and brightest jobs because
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california overtaxes the people of california. stuart: twenty-second is. >> tommy and jimmy dorsey, if it is that i will call my mom. stuart: very funny. can you absolutely positively tell me that there will be no increase in the federal tax on gasoline? absolutely positively no? can you say that? >> this congress will not support tax increases. if there will be an increase in one area there will be a decrease in another to balance. we will consider tax adjustments one way or the other but this is no longer a tax increase washington as was under this president in 2007 and beyond. this is now a place in which we have to live within our means and find revenue through growth not revenue through increased taxes. stuart: i am a beatles generation and i will never imply a young man like you -- wouldn't do it.
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congressman darrell issa thank you for joining us. all right. analysis from the social security administration. 30% of people receiving disability benefits have been diagnosed with a mental disorder. that is an extraordinarily large percentage of people. maria: it is. this program like other government handout is absolutely right with fraud. remember the nypd cops? stuart: if i say i can get disability payments if i prove i have anxiety. >> the goal should be to help the truly disabled, the blind deaf, the people who can't get out of their beds and work anymore. to encourage able-bodied people to work. there are mental disorders that are serious that stop people from working. but think about the numbers. disability has doubled between 90, and 2008. since 2008 payments were up 32%.
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i am sorry. all these people are not disabled. stuart: i don't think anxiety should be reason. >> if you work you shouldn't get paid. stuart: we are in agreement. the cop tracking apps called ways a lot of criticism from cox. they say it makes it easier for cop killers to find officers. they might have a valid point on this one and we will get into with in a moment. recently, a 1954 mercedes-benz grand prix race car made history when it sold for a record price of just under $30 million. and now, another mercedes-benz makes history selling at just over $30,000. and to think this one actually has a surround-sound stereo.
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the 2015 cla. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. push your enterprise and you can move the world. ♪ ♪ but to get from the old way to the new you'll need the right it infrastructure. from a partner who knows how to make your enterprise more agile, borderless and secure. hp helps business move on all the possibilities of today. and stay ready for everything that is still to come.
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nicole: nicole petallides with your fox business brief. a better day on wall street and we are reaching a lot of technology movers. entire delivery for aircraft sisters systems also winners. tech winners avalanche yahoo! selling more iphones than expected, strength will continue, stocks with 6.5% sitting at 116-38. not far from the all-time high. yahoo! moving forward with a spin and auto recalls, nissan and for denouncing recalls today, nissan's higher pulling back, nissan recalling nearly 800,000 vehicles and for recalling 200,000 of the ford taurus and lincoln but have to do with --
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opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. stuart: subscriber to amazon's prime in the u.s. layout 1500 bucks a year on average. that is twice what non prime shoppers spend $625. no impact on stock but we thought we would tell you that because mary is up from subscriber. maria: i am watching americans.
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i can for that. sorry for that. stuart: we will get to you in just a second so you are -- >> i love it. >> $1,500 a year. i am an addict. stuart: you are abnormal. >> that is okay. i am in the third standard deviation. >> the city of new york and elsewhere, i literally ordered something on amazon and in 20 minutes, at the door. unbelievable. i don't know how they did it. stuart: let me move on. that is extraordinary. 20 minutes. i want to talk about waves for a moment. it allows you to see traffic in real time and it alerts you to what police officers may be setting up speed traps. police officers are speaking
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out, they say the apps is a threat to their security. actors the man who killed two nypd officers last year, the killer used the air when to locate. >> is debatable how much information, he found the phone away, it happened to be on. stuart: this might happen. they have a security problem. >> he said this apps purchased by google waived through crowd source navigation apps. one of the best out there because it circumnavigates traffic because other people using the apps report heavy traffic can where police speed traps are. that is the aspect of the apps
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that the chief in the lapd is upset about and others -- the argument is is this. stuart: there is a cop on the side of this road coming up with this, you can't stop it going out on their. >> they want google to take over and say and let's remove that feature. let's remove the feature that shows where police officers are but the other argument, you already know where the police officers are. if you are driving around it is not as though they are hidden. uniformed police officers are clear -- stuart: have you been driving the highway much these days? they are behind buildings, in locations where you can see them. >> people who are putting the police officers on this matter are only putting them on because they are seeing them. not as though they are revealing hidden locations. stuart: should the remove that feature from the apps? >> no. absolutely not. stuart: i think the smart phone
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is the most popular product anywhere in the world, must have a product and i say apple dominates it. are you going to argue with me? >> you are spot on it. apple has changed and revolutionized our lies with the smart phone. i don't care who the indicators are. the will continue to evolve and make this an extraordinary product. you think the iphone vi was big in the u.s. and 70% growth in china with it to what comes out this spring. stuart: really? >> will do well. stuart: do exceptionally well. apple watch and so many different sizes and flavors and price points, i think it will melt the market and by any sort of smart watch and told this hits. stuart: i am the older gentleman around this table. why should i buy at this product that is going to sit and make me look like dick tracy? >> there may be a design doesn't make you look like dick tracy and celebrates the karaoke
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version of stuart varney. stuart: the moment you do this you are dead. >> i would sign up for that apps. the truth about this watch his you will start seeing it bring about a bunch of conveniences in life we never dreamed of such as walking into the airport and it is your driver's license, your ticket on the aircraft and you are off on airplane ride. >> it will tell you when to take your medication. stuart: will it push my wheelchair? thank you very much. it wouldn't be super bowl week without controversy over a commercial land now we have our first casualty, go-'s happy at. >> i am so glad i need you home. because i just told you on this web site at built with go daddy ship him out. you show up. you stay up.
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i'm so glad you made it home. because i sold you on the website i built with godaddy. ship him out. >> get your domain and website all in one place at godaddy.com. stuart: i thought that was a little harsh. we're going so this you your response to the ad. liz mcdonald's take. your thoughts. >> it's a cute puppy. they're not letting the puppy roam free in the wild or die of thirst and starvation. they're sending it to an owner who wants them. stuart: and fell off the back of a truck. >> and found its way home. stuart, the outrage is from the same animal rights groups who don't want elephants at the circus. stuart: i'm not outraged at all. i thought it was harsh and defend to the end the right to
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run the commercial without interference from peta and we can make our own decision. do we want to use godaddy or not. >> the irony is the animal rights groups are giving godaddy great pr. stuart: and we just did. we put it right out there. mary, thanks. time's money three more headlines real fast. how an episode of "seinfeld" can help president obama on the economy, what? we will play you the clip. we'll explain what's going on and charlie gasparino will join us on that. seahawks running back marshawn lynch avoided nfl fine, he spoke to the media. the nfl said you have to speak to the media. he didn't say much. he only said one thing. find out what he said and how many times he said it in the hour. the government's ceo what we said from the start. 10 million people will lose their employer health plans under obamacare. former vermont governor and
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dnc chair howard dean okay, he had a few things to say about an apology, did he not? i think that's what he did. okay? okay. i've got to do the next one. we don't have time for that. the younger generation the millennials are not lazy. they are burdened by debt and low paying jobs. numbers for you in two minutes.
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. stuart: we have today a glaring example of economic failure. it is the failure to create jobs for young people. please consider this. almost half of all college graduates under age 24 live at home or with a relative. 40 million graduates have a college debt around their necks. the average debt for the graduating class of 2014 is $33,000. the president's answer to this is debt forgiveness.
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it will make community college free for two years, that does not get to the heart of the problem which is jobs. gainful employment. opportunity, economic growth. these youngsters are not lazy they're no different from any other generation. they have the same degree of drive and ambition. they are young americans, but they're being turned into young europeans. there are a lot of factors involved here, that's for sure. new technology that concentrates wealth but does not create jobs that's a very big deal. tuition costs, out of control. mismatch of skills these are all huge problems but the basic problem is jobs or lack thereof. sadly, very sadly young people are being hurt by the administration they voted for, they might want to think more about what do they want? government help? perhaps not. what they need is a job. you get that with growth and new policies.
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all right, in a couple of hours we're going to get the latest statement from the federal reserve, and we'll find out whether or not they've got any patience before they raise interest rates. odds are they won't be raising rates any time soon. the market's going to like that. we're up 47 right now. look at apple, though. that's the stock of the decade isn't it? post the largest profit in global corporate history. yeah. here's what charles payne told us about buying the stock. roll tape. >> buy yourself a $30 phone and put the rest of the money in apple. if someone would have done that every year, i'm putting 500 bucks even the day before the new phones came out. the 1, the 3g, the 4s they would have $1200 net in their pocket and a good functioning phone. stuart: we crunched the numbers for you. they are staggering.
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look at that number. they sold 34,000 iphones an hour. every hour. and they kept it up for 13 weeks. there's a number for you. tonight get back to obama nomices and how the president's policies don't appear to be working for young people like millennials. 45% of all college graduates under age 24 live at home or with a relative. 45%. 40 million graduates have a student loan. they've got student loan debt around their necks. and get this, the average debt for the graduating class of 14 is $33,000. young america foundation spokesperson ashley pratt is with us. ashley, there might be a tendency to blame president obama. this is obama-nomics there are other factors involved here. tell us, whose fault do you think it is? >> i think a lot of the burden can be placed on president
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obama because of job killing policies and what he's turned into his original idea to help young people is to hurt them. at the same time, we need to look at policies regarding small business. it's job killing, definitely regulating, overregulating to the point small businesses have a hard time existing here in america. we see jobs going overseas because we're corporate tax rates. so there's less opportunity for young people. stuart: so ashley why did millennials vote in very, very large numbers, a clear majority of millennials voted for president obama twice. >> i feel like you always love to ask me this, and my answer here is honestly i think they bought into the whole idea of he's -- the president is going to give us opportunity, the president is going to give us jobs. the president is going to give us free health care and now peddling free college education or free community college
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education. there's no such thing as a free lunch, and i think as we start to realize a lot of the broken promises from this administration, while it looks good on paper and sounds good when he stands in front of all these college students. at the same time, these policies directly hurt this generation, and these will have lasting effects on our economy for years to come. stuart: let's suppose we had a different set of policies and really have strong growth i'm talking 5% growth and kept it up for a year or two years, the way we did in the early 1980s. if we did that downing that would solve the problems which we just outlined that millennials are facing? do you think growth alone would fix this mess? >> no and i think until we start appreciating small businesses and start admiring companies who hire and start look at young entrepreneurs and supporting them through policies, i don't think that will change because what we'll see under growth is obviously more job opportunity, but will
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that directly translate into more jobs for young people. we're seeing people come out of college and not utilizing their degrees? will that happen if there is growth? i'm sure of it. we need to create more programs under young entrepreneurs and start encouraging that, start encouraging taking risks. start creating the risk of creating your own business. stuart: do you think they want to go back and live with mom and dad? >> no i graduated from college three years ago, and no one on graduation day was saying i want to move home with mom and dad. it was more i want to be on my own. stuart: there's a tendency to feel we are much more like europe. europeans like to live with mom and dad. they do this as a matter of course. i always thought america was very, very different. up and out. you go to college. get up there experience the wide world strive for heaven's sake. are you telling me the old america is still in place. that america is still america.
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is it? >> i think that it is stu. that's something that gives me hope for my children. honestly, our polling is showing that 60% of young people think the federal government is too big and spends too much, which tells me they think it's too intrusive. do they want to be living at home? no, when they're in a tough job market, they have no choice. at the end of the day, they want to be independent, want to be free from government dependence, but this administration has directly made it appealing to be a government dependent. and that's what they want. they want a dependent class of young people because it benefits them. stuart: you are right on that one. we will see in 16 whether or not it is. thank you very much, ashley. always a pleasure to have you. >> thank you. stuart: the big board, up 70 points. a couple of hours we're going to get a statement from the federal reserve. the tea leaf readers will try to figure out when they're going to raise rates. at the moment we figure they're going to raise rates a long way down the road.
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the proof is in the putting two hours from now. strong profits from boeing. think of a weak outlook for the year. cheap oil may hamper demand for boeing's fuel-efficient planes. the stock is up 6% reaching $140 a share. yahoo! unveiled a plan to spin off, tax free. nearly $40 billion worth of holdings in alibaba. yahoo! is unchanged, alibaba was down below $100 a share earlier this morning. a new study, lots of them congress' decision to zero out unemployment benefits actually created 1.8 million jobs. and the "wall street journal" says that should be a wake-up call for president obama to do the opposite of what he would normally do. he didn't want to ace out extending unemployment benefits. he didn't want to do that but was forced to do it and look what we got, a whole bunch of new jobs. the journal suggest president
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start taking cues from "seinfeld"'s george costanza. george decides to do the exact opposite what he normally would do, things finally start going his way. look at this. >> if every instinct have you is wrong, then the opposite would have to be right. >> my name is george i'm unemployed live and with my parents. [ laughter ] >> i'm victoria hi! >> if it were so simple. charlie gasparino is here. you think it's time for president obama to take a leaf from the "seinfeld" book? >> this is what the journal said as i fix my tie here. they're saying, it's not like they created jobs by taking away the unemployment benefits. forced people to get the jobs that are available getting them off the unemployment lines. the problem with this and i think the journal did not pay -- give enough background. the jobs that people are taking
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as they get off the unemployment line are worse jobs than in past recoveries from recessions. these are jobs that pay a lot less gets back to something that your previous guest was talking about, people coming out of college, people that don't have jobs are taking jobs where they are getting pay the, where the wages, the salaries are low, they're lower when you take in all the factors of inflation and everything than they were in the past. that's the problem with this economy. this economy is producing two types of jobs. lot of jobs on the high end. if you go out, you could write code for computers. you want to flip burgers or work at walmart, you got those jobs, too. it's the middle, the economy was good at producing, which is not being produced by this -- under obama-nomics. stuart: i want to raise that issue, a knee-jerk reaction to blame the president or republicans or whatever. i think there's something going on affecting the kind of jobs
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that are available to middle america. >> right. stuart: that is the concentration of wealth that you get with new technology. whatsapp. shazam that's an app is worth a billion dollars, it's got 350 employees. concentrating wealth not creating jobs. >> you have globalization which does move jobs overseas, you can't help it. there is the fact with automation, you can produce more with less. my job was a construction worker, his particular trade is almost being automated out. they don't need it anymore. i will say this when you attack small businesses, when you attack, when you make it much more difficult as the woman said earlier for people that are smart to be entrepreneurs to tap into this information-based economy, that is one of the problems that's all about obama-nomics.
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all the stuff involving obamacare, where the certain amount of employees, you got to pay, and you got caught into the obamacare web. the taxes, that all gets focused on small businesses which could bring us out of this. stuart: don't attack private enterprise. don't regulate it to death and don't tax it to death. >> listen average people have started. if they haven't gone to college, started their own businesses tapping off the economy for generations. you don't need to understand how to put together an iphone or create an iphone to be part of that economy that sells it markets it that does something off it. stuart: well said charlie gasparino, thank you very much indeed. >> thank you. stuart: oil is down again a whole lot more oil in storage. 9 million barrels extra. we're swimming in oil and the price is down to $45.08. gas prices still sitting at
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$2.03 a gallon. didn't move a fraction of a penny. scott shellady with us looking more like we did hit bottom for the price of oil. although, maybe we're going to test that if we were 45 and small change. what do you think? have we hit bottom? >> i think we're getting close. i think we're going to have one more flush down to the 40 level, around 38. i would have to say if i was short i would cover. the only reason i keep saying this is we've had saudi oil ministers say that there probably is a bottom, and any time anyone says it's the bottom, it's never the bottom. i think we have one more good flush below the 40 level and around that level i would be looking to take off my shorts. stuart: you might want to rephrase that. >> that didn't come out right, did it? stuart: no, it didn't. a man who's wearing a cow jacket should not be talking about taking off his shorts.
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know where you stand with pnc total insight. a new investing and banking experience with personalized guidance and online tools. visit a branch, call or go online today. . stuart: investigation by a local denver tv station found rampant fraud and abuse in the lifeline free cell phone program known as obama phones. first half of 2014 more than 20,000 free cell phones were handed out every month just in the state of colorado. the investigation found the vendors who give out the phones, they're the ones cheating the system and cashing in on the subsidies. liz mcdonald has more. the middle guys the vendor they're driving this fraud, correct? >> that's the story here. the vendor gets the government subsidies. when you get a free phone
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through the government program they're called obama phones. they've been around since the reagan administration. you are supposed to prove your own government aid you are supposed to prove you are getting food stamps or medicaid. in this undercover operation, they found the vendors's own agents were setting up people getting phones by using friend's food stamps to prove they are getting government aid. rampant fraud throughout the system. >> i get the impression look i may be wrong i get the impression the administration does not want to check. they want to push out as many phones and food stamps and subsidies as they possibly can because, i believe they're buying votes and the free obama phones are one way of buying votes. they don't want it. >> one study found as many as four out of ten were given out fraudulently. there is a tremendous lack of oversight in this program. by some estimates more than $2 billion in fees hitting the
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phone bills that we pay. we all have to pay the fees on the bill. stuart: check your phone bill you are paying are in stuff. 20,000 a month. >> for this program. stuart: one state! unbelievable. liz, thank you. >> sure. stuart: natural gas, the house just passed a bill that would allow natural gas exports. 236 republicans said yes, do it, 41 democrats voted for it as well. here is from washington congressman bill jonson. he sponsored the bill. welcome to the program. good to have you with us. >> good to be here. stuart: the opposition is saying wait a minute it's our natural gas. use it in america. get the price down. help people in america. what are you doing exporting it for? why? what's your answer? >> well this exporting plan stuart does help people in america. remember, we've got abundance of this resource. experts say we've got more of this resource than saudi arabia
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or maybe russia have and you're talking about creating 45,000 jobs and increasing salaries wages, by about a billion dollars over a six-year period. so we're not going to be taking from the american economy. we're going to be adding to the american economy with this plan. it's the right thing to do here at home and it's the right thing to do geopolitically as well. stuart: am i right in saying at this moment, you are not allowed to export liquefied natural gas. is that correct? >> that is not entirely correct. since 2010, there have been five export permits approved by the department of energy so it's trickling out there. there are some 38 export permit applications in the pipeline, and what we want the department of energy to do stuart, is to give us a stop clock. tell us when you're going to approve those so companies can invest the money to come in and
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put in the infrastructure needed to liquefy that gas. stuart: there is another side to this coin surely. that is if we export natural gas to europe we become the supplier of europe, and russia is aced out because at the moment, they're the suppliers of natural gas, it will be a very positive foreign policy move if we you is ply russia as the european supplier, surely. >> we can affect the russian economy to the tune of 30%. remember the russian economy is in -- is in it's a disaster right now as we speak. think about what would happen if we could hit it at another 30%. even the thought of america getting into the liquid natural gas export market sent shockwaves through the russian officials. it will change the conversation with vladimir putin that's for sure. stuart: have you 41 democrats to go along with this in the house. when it gets to the senate, you
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will get democrats to go along with you as well, which will give you a sizable majority. downing the president will veto it? >> the president has not issued a veto threat on this. i think he sees the value. when you go back to his state of the union about helping hard working americans and creating opportunity. this does exactly that, and really gives him some geopolitical leverage with the likes of russia and japan -- i'm sorry, russia and iran, that he doesn't have today. so i think the president could very possibly sign this. stuart: congressman bill jonson, republican of ohio. thank you for joining us. appreciate it. >> thank you stuart. stuart: yes, sir. the godaddy super bowl puppy ad. we'll play it for you again. you can decide if the ad should have been pulled? but first this the stars of the new ghostbusters movie have been revealed and the new stars are a very big departure from this. >> you could accept the fact that this city is headed for a disaster of biblical proportion.
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. stuart: a remake of the classic 80s movie "ghostbusters" is in the works and this one features an all-female cast. the movie's director sent out a tweet revealing the new cast members, they are bridesmaids stars melissa mccarthy and kirsten whig. the movie set to hit theaters july 2016. we're about to show you an ad you will not see during the super bowl. roll it.. >> okay spotty! so glad you made it home because i just sold you on this website i built with go daddy.
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ship him out! >> get your domain and website all in one place at godaddy.com. stuart: i do find that a little harsh. i find it a little harsh. the ad was supposed to mock budweisers' famous puppy ads it. upset a lot of animal rights folks. here's what you had to say about this, first off jennifer -- well said jennifer well said indeed. zack -- okay, stephanie has some advice for all of you -- godaddy decided to pull the ad because of this backlash and will replace it with another one. now, liz, is that censorship? >> no it's not censorship. godaddy has to answer to
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shareholders. by the way it's trying to go public this june. and this is -- they've been trying to have an initial public offering since 2006, and it's been losing a lot of money and struggling with revenue and sales and earnings. so godaddy has to watch it here. stuart: they knew this was going have a backlash, they expected to pull it. they knew they were going pull it because they've got an ad already in its place ready to run another one. >> i don't know if they knew they were going to pull it. if you don't know about internet puppy mills, that's a real problem. was it set up to dig at bud here? yes, it didn't come across as funny. came across as hashtag not disturbing and not funny in social media. stuart: i didn't particularly like it myself. >> me neither. stuart: former vermont governor and dnc chair howard dean apologizing for nasty comments
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about "american sniper," he managed to insult the right in the process. roll that tape. >> i apologize to the veterans. i haven't seen the movie, and i think it was wrong. i make no apologies to the thousands of right wing nut jobs twittering me with nasty language but i do apologize to the veterans. stuart: shameless. >> let's back up here. he didn't see the movie but went on the bill maher show saying people who are seeing "american sniper" are angry. it's the tea party crowd coming to see. this he got a backlash because it said, the people are saying you should be talking about our veterans. howard dean needs to protect his own brand because we've got an election season coming up. so he's got to watch what he says, but you undercut your credibility when you don't go to see the movie but attack the audience who you think went to see it. stuart: we should run the howard dean screen should we not? >> we should. stuart: and you should set it up after the nancy pelosi comment. stuart: that's nasty. >> but it's funny.
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>> lift off of the 25th space shuttle mission. >> 15 seconds. seven nautical miles. stuart: i am afraid that is the same that nobody will forget. seventy-three seconds after liftoff, the rocket boosted a failure. though would have been first teacher to go on a space mission 29 years ago today. we will get a fed statement in a few hours. amazon stock. not much has changed. a study that says amazon subscribers layout on average $1500 per year. more than double what a
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non-prime member spends. amazon has a good deal going. summit democrats have folded on topher and immediate sanctions in iran. i think we are forgetting this. crucial story. i think the president will accommodate it. what say you? >> i think that you are exactly right. it is not breaking news while we continue to kick the can down the road. nothing to show for it. give us more time. stuart: that is it. the president says give us more
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time. do not impose fresh new tough sanctions now. you have to give me more time. i believe that senator menendez is saying, on, mr. president you have to do it now. >> he was the leader of the committee. he still would not stand up to the president very much. he had a couple of statements, but he did not push this forward. i need more time. if you do anything else to put pressure on the iranians, you will be responsible for blowing this negotiation up. the idea that it is even going well is ridiculous.
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look at what they just did and lemon. the iranians are emboldened. >> i think that you and i understand that an iranian nuke is a very thing. >> it is a game changer. stuart: why is the president leaning towards accommodating this? >> he has always had this idea. he has always put pressure on the wrong individuals. he is a terrible ago shooter. look at what he did with cubans and alan gross. what he is trying to placate a base. let's called everything down.
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stuart: it is a sad story. back to the big story of the day. apple. tom, i have three sectors that we want to look at with you today. would you buy apple at $116 per share? >> no. i think that there are some headwinds for apple. finally, we have the watch coming out. stuart: all right. what about yahoo!? spinning off their stake in ali baba. >> it was a decent earnings
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print. i would not be a buyer. i would refer to go to google over yahoo!. i would like it in the high 80s. stuart: okay. the next sector. defense and aerospace. i will start with boeing. >> i would buy boeing at these levels. i think it is looking good. not so much of the ford sales. more here domestically did i like general dynamics.
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stuart: what is your stock pick if oil and gas have reached a bottom? enterprise product partners. it has a ton of cash. it will give you some income and some upside if oil hits bottom. stuart: a lot of people would take it right there. short, sharp to the point. stuart: shawn lynch. the nfl said you have to speak to the media. he did not say much. >> you can all sit here. i will answer with the same answers.
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legal help is here. push your enterprise and you can move the world. ♪ ♪ but to get from the old way to the new you'll need the right it infrastructure. from a partner who knows how to make your enterprise more agile, borderless and secure. hp helps business move on all the possibilities of today. and stay ready for everything that is still to come. nicole: yesterday, the dow jones industrial average dropped nearly 300 points. the dow is up 66 points. a gain of more than one third of 1%.
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apple, yahoo!. look at some dow winners. cisco, caterpillar among the other winners. losers for you, that is energy. energy has been a big loser. the biggest losing sector of the day. each down more than 1%. after the bell we will be hearing from facebook and qualcomm. we are back in just a's minute. ♪ s. from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes no corporate taxes no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that's right for your business. see if startup-ny can work for you. go to startup.ny.gov.
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stuart: nfl rules require players to talk to the media or face fines. not all players are happy about it. roll the tape. >> i am just here so i do not give find. >> i am here so i do not give find. i am here so i do not give find. i am here so i do not give find. stuart: do you think that that is a decent rule? >> he should stick to the media. he is already paying $100,000 in fines for not speaking to the media. stuart: look at that hat.
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he may have a fine because of the hat he is wearing. >> clearly, the nfl has more rules than dood-frank here. they have a mutiny on the seahawks team. now the players are saying it is weird to talk to the media. mr. good dell should have to. >> they continue. thank you, liz. look at who we will bring in. dr. keith ablow. all right, doctor. the seahawks have a sports psychology roaming the sidelines. do you think that this is a good idea? >> i would tell you if i thought
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that it might be detrimental or intrusive. listed, so much can be done in terms of isolating compartmentalizing the bad feelings. getting people to do this. i did this with my son's hockey team. why in the last minute are you guys for groceries? why can you not dial that in every moment or do it five times during the game. i think it is a good thing. stuart: i have a new study. men that take self pictures may be psychopath. i am not a psychopath.
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>> the truth is, shouldn't we remind ourselves, nobody really cares. do not record it. live it. they are selling these sticks that extend because your arms are not long enough to make a really good selfie. we are losing ourselves in our phones. stuart: i want one of those sticks. >> you will need an extra session if you save an flight that. stuart: before you go away, i want you to listen to this. if you take me back to 1995 where it was completely and totally evasive, i would probably do it again.
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>> you cannot be relative and your sense of self and willingness to be truthful. you cannot hear your character to the times. you need to be a standup person regardless of the people around you. what i would suggest for lance instead of the two or day france, have 82 or day lance. they can do anything that they want. >> you are opening up pandora's box. back to narcissism psychopath -- >> of course.
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stuart: i want a long stick. i don't see anything wrong with it. it is my means of communication. i communicate with this vast group of people around the world. >> here is the thing. it is too easy. >> to snap a photo and send it widely, it fools people to think you are more invested than you may be. i always feel close to you as a
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friend. stuart: bank you very much indeed. it was a lot of fun. >> they do for having me. stuart: 10 million people will lose their healthcare provider because of president obama. so much for broken promises. >> if you like your healthcare plan, you will be able to keep your health care plan. period. ♪ this is what we've been planning for. knowing our clients personally is why edward jones is the big company that doesn't act that way.
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stuart: bombshell report. 10 million people lose their employee or face healthcare insurance for obamacare. >> one in every 16 workers will likely lose their employee covered coverage by 2024. this is up against what the white house has said at least three different times. you will be able to keep your plan. jonathan gruber, chuck schumer. it is not happening.
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31 million people will still be uninsured a decade after health reform. stuart: yes. that is right. a decade later. early to bed 2020s. you will still have 30 million people no insurance at that time >> yes. that is right. it cost $2 trillion. 10 million people knocked off. stuart: i thought that the reason we have healthcare reform is to get the cost of healthcare down. >> it does not appear to be happening right now. stuart: do not get me started. more varney and one minute. ♪
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be in saudi arabia, when the king offered to shake her hand, she shake his hand. you hit the nail on the head. the rules do not apply to foreigners. stuart: let's go to ralph peters takes on michelle obama wearing a veil to saudi arabia. for once, i agree with her. their conditions should not be binding on us. maria calls the go daddy ad heart samples this. who thought that this was appropriate? >> go daddy sells web names. the ad was tasteless. it was disturbing.
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they are looking to go public june of this year. stuart: well said. deirdre, it is yours. deirdre: thank you stuart. yahoo! marissa mayer buys herself sometime in the ceo spot. we are close to super bowl sunday. we will preview some of the ads. yahoo! earnings basically in line with analysts forecast. the big news is that tax-free spinoff. "wall street journal" doubt dylan both heard about it. what does this mean for the future of yahoo! >> yahoo! will be a lot smaller of a company. after
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