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tv   After the Bell  FOX Business  March 27, 2015 4:00pm-5:01pm EDT

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soaring. what's going on? >> that would be a big bite. >> all right, the bells are ringing on wall street. i said oil stocks. i meant airline stocks are up. they do well when the price of oil -- >> we knew what u you meant. >> the biggest jump is in the bottom. russell 2000 has fallen. it's interesting to know what happened at nasdaq. people looking for bargains found them in the tech sector. a lot of shopping in nasdaq. that half of a percentage point increase on the whole index doesn't tell the story. some people went in specifically to buy what they thought were cheap tech stocks. but the dow jones industrial average and s&p managing to pull into the green. one of those days. a wild week. watch after the bell which starts right now >> getting right to
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today's and the week's market action, michael here to tell us if it's time to -- tells us what top stocks to invest to ride out a choppy market. trent wagner dealing with all things commodity-wise and currency-wise. the euro, how would you trade the euro right now? >> well, i think since we had the fed statement late -- or, mid-last week, the narrative flipped with the strong us dollar, short euro trade, but a lot of it was short covering. obviously that communication from the fed was much more dove scpish translatedoveish and trad that way. the reaction is probably a little overdone. as we move the focus from the fed statement and back to the ecb and central banking policy. it doesn't look good for the euro. we would look at this as an opportunity to short the market. five full handles off
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the lows from earlier this month. i don't know we'll get many of these opportunities, given the qe program that's firmly entrenched there and the fed who looks to tighten sometime early next year at the latest. >> that's interesting. we got those comments from yellen and dan told me, it may not be this year that we see interest rates go higher. language or not, they don't have a reason to truly hike rates. >> you know they really don't. that's a good point. one of the things we see with the markets, we know the rates will go up at some point in time. whether it's this fall for next spring, that conversation will go around the table. when it does happen, overall with the markets, we've been in that sideways trend. we want to be cautious going forward to make sure we're okay regardless of what happens. >> but, bob, we're chugging away and just barely. growth rate of 2.2% is
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pretty mediocre. on the other hand, it's about twice or more than twice what they have in europe. so compared to other economies, our economy seems to be doing well enough. perhaps they'll be okay with a rate hike. >> correct. i mean, we have been doing better than europe for quite some time. i do think the markets could handle gradual rate increases fairly well. i think the evidence, past evidence suggests that that is the case. but i'm -- i'm in agreement with michael. i don't see the fed acting this year at all. >> wow. >> if they do, it would be late this year. cheryl: yeah, trent. no one seems to be listening to what janet yellen says. it's like nobody believes her at this point. i want to look ahead. we have the big jobs report coming out in march. what we're seeing with the energy industry and all the pullback, job losses. by the way, the markets are closed next friday when the market comes
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out. >> yeah. the report coming out on good friday, always an interesting dynamic. with respect to the job market and the labor market from a standpoint of looking at it through the lens of the fed, job creation is not the issue. i know we're losing jobs in the oil sector. the bigger problem with that, up to this point in time, crude has been down the last couple of months, that's not new information. essentially from a creation standpoint alone, other areas have picked up the slack there. the problem is in the participation. we haven't had that black eye of these reports make any improvement whatever on a sustainable basis. that's one of the main data dependent issues that the fed has pointed out. they want wage growth and participation. so when you have big money jobs in the oil industry being replaced by, you know -- you know, jobs in the retail and service sector, it doesn't necessarily translate to that data that the fed is looking for to justify a rate hike later this year.
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>> mike, let's stay on oil. let's talk money and oil. oil is down 6% today. i know you like occidental. today seems like a good day to buy with oil down 6%. >> yeah, i think so, david. i mean, at the end of the day, it won't stay down forever. also, what we know -- >> particularly in light of what's happening in the middle east right now. good lord if saudi arabia and iran go at it together, oil prices will go up. >> they definitely are. and even if that doesn't occur, we're in a situation where we'll enter the summer season. we know the in flows have an up tick. one hundred more barrels a day. that's showing a little bit of a sign that the pricing as far as the need, the demand, and all that will overflow through the demand of stocks. buy occidental. houston. or take a safer route, buy an index. but over the next three,
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four months or more, we'll see an uptick. i think it's okay to dip into the water here. absolutely. >> one of the companies you like is sea gate technology as well as some more picks. i find them intriguing in the particular environment. why do you like it. >> it's taking a beating. as a number of companies that are tied (?) to the -- have something tied to the pc market. but there's a big trend in big data. and the storage needs that come with that. this is a huge unstoppable trend. seagate provides the equipment that will help companies in terms of storing massive amount of data. we're seeing more and more streaming services. that means more data. seseagate provides the high density disk the
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crisidrivesfor that market. the company has great cash return to shareholder policy. the company is buying back shares and it yields 4% right now. very attractive. >> just to show i can argue any side of an argument if need be. after arguing that interest rates will be hiked up, let's talk about what's happening to overall interest rates. we have the ten-year down below 2% again. it looks like the markets are betting on no rate hike. correct? >> yeah, i would say that is the case. and, you know, when you look at what's going on in the treasury markets over the last 15 months or so or since the beginning of 2014. will them everyone came into the beginning of next year thinking rates will be rising. they've been doing anything, but that. the exact opposite. a lot of that isn't just what's going on in the us with our central bank, but it's artificially suppressed rates specifically in europe and japan.
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the strength relative to these other places, if you're looking for fixed income yield, the fact the us is where it is compared to like products around the world, it will keep a firm bid. i think we'll see the ten and 30. six months from now even lower than they are today. >> what a prediction. >> that's what todd horowitz says too. >> michael, todd, thank you very much. what was that? you can argue both sides of an argument. >> if necessary. when it comes to interest rates and the fed, who knows what they'll do. >> appreciate it. all right, well, news is surfacing that the co-pilot believed to deliberately crash the plane had a medical condition that he hid from his employer. investigators found a torn up letter. >> he was one of the worst mass murderers of all time. as the search for clues continues, john joining us now with more.
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john, what is the latest. >> well, david and cheryl, we don't know exactly specifically what this guy's medical condition was. but we are learning more details about his mental health leading up to the horrific crash as we know. now, prosecutors said earlier today, let me walk you through the latest details. prosecutors involved with the case said earlier today that they found torn up doctors notes as mentioned saying that andreas lubitz was unable to work, including one on the day of the crash. on tuesday. and do yo dusseldorf hospital confirms he was treated there, but not for depression. there's been a lot of speculation about his mental state, that he was distraught about breaking up with his girlfriend. that he had severe depression. that he had a mental breakdown. none of that has been confirmed. let me be clear about that. what we do know is that lubitz started flight training in 2008, but
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stopped for six months in 2009. airline officials would not say why, only that he was clear to resume training after passing psych exams and physical exams. he actually started flying in 2013. by all accounts, he was in great shape. avid runner. he was spying with the golden gate bridge in the background. it's becoming very clear that he was hiding some kind of serious medical issue. now, criminal investigators, we've seen over the last day and a half have been searching lubitz parents' home outside of frankfort and his flat in dusseldorf carrying out boxes other undisclosed items. this as recovery teams continue their work, the gruesome work. so far, more than 600 human remains have been found, but no intact bodies. as we know, several european airlines are changing their cockpit procedures in the wake of this awful crash on tuesday. now, we're getting reports that lufthansa
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airline is offering 50,000 euros in immediate financial assistance to the families of those crash victims. but having said all that, it doesn't explain why 27-year-old andreas lubitz did what we did. what compelled him to crash this plane, kill himself, and the other 149 men, women, and children that were on board. >> well, if it's true what he did, it's an evil act. that much we know. thank you very much. well, a big slide for oil today. falling more than 5%. almost 6%. still sitting below the 50-dollar mark. but is this the calm before the storm as the tensions in the middle east rage on? >> plus, need a little extra help at home or your business, maybe a babysitter, someone to mow the lawn, answer your phone. new service making it easier than ever to match part-time workers with businesses and individuals. we'll talk to the ceo coming up.
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anoi agast rre bfett whe h ss buy an ho is e w to inst, e mney mageroing u ne sa tha is a b ratey rht nw. whas h alteati? hel tl y in a moment. ♪
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♪ >> breaking news, coming out of san francisco,
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the jury in the ellen pao sexual discrimination case against kleiner perkins. reached a verdict. we have just hung up the phone with our producer in san francisco. coming out of the courtroom. there is a verdict. we'll hear the verdict 45 minutes from now. it was a 14 million -- excuse me -- 16 million-dollar suit. klein perkins could be held liable for up to $160 million in damages. the judge added an extra 144 in punitive damages. kleiner perkins, ellen pao, 45 minutes from now. >> willis report, that's when it take place. the dow and s&p heading the week in the red. four straight days of losses. the biggest losers. >> let's head to nicole petallides on the floor of the new york stock exchange. nicole. >> cheryl and dave, easy to find the losers. the majority of stocks were under pressure. the s&p 500. sandisk and kansas city
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southern, two names under pressure. isandisk under 25%. the other 11%. two names that we followed. both gave weak outlooks going forward. kansas city in the rails. sandisk in the software. that took down all the railroads along with it when they announced earlier in the week. the dow jones industrial average, the dow 30, majority of stocks there, cheryl and dave, it came under pressure. american express, microsoft, jpmorgan, american express roughly down 5% each for the week. it was a tough one no doubt. hard to squeeze down a gain. the dow down 2%. >> have a great weekend, nicole. >> well, warren buffett turned buy and hold into an investor mantra. that strategy is very dangerous, particularly if you're near retirement. as you look in this market. ken is the author of buy hold and sell, the
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investment strategy that could save you. he's a senior adviser. he's been named as bear en's top financial advisers. good to see you thank you for being here. (?) let's put up a statement. warren buffett statement, if you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. you think that's a mistake. why? >> well, first of all, what i want to say is that, you know, as a financial adviser, my clients are not warren buffett, so i can't really invest my client's money the way he does. but i can say that we do employ a sell strategy which i describe in the book as well as three others. there's four different ways that you can implement a protective game plan. and if mr. buffett had followed my advice, he had gotten out of the market with all his holdings in 2007 as we advised our clients to, and he would have bought back in june 2009, as we
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advised our clients to, and he would be billions of dollars ahead today. >> i won't cry any tears for his billions loss. he knew enough to make a loan with goldman sachs. is your strategy just when you think when we're peaking at the top of a market, which is what a lot of people say we're at now? >> well, when the market is at all-time highs, that's when there is the most to lose. you know, it seems -- investor psychology is kind of backward. it's like, when the market is running and setting all-time highs, everybody feels confident and gets complaivment. whecomplaisment. it's the other way around. when the market is at all-time highs, that's when you need to think, look how far below i can fall. i don't want to do that. i want to protect the gains i've built over the last seven years. and, you know, people that are retiring soon,
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they can't afford to lose 50% in the next bear market again. it will delay when you retire or it may unretire you which is worse. >> do you think we're headed for a crash right now, ken? >> well, i know you're interviewing me, david. let me ask it back to you. do you think between now and the rest of your life, you think there will be another bear market? >> absolutely it will. the average bear market is a drop of 37%. we average one every three and a half years. we've gone seven years without a bear market. and so i -- yes, i think there will be another one. i will ask anybody watching, if you believe there will be another bear market, do you want to lose another half of your money and wait another six or seven years to get back to even again. >> if you do believe as yoyou do that we topped out and we're due for a downdraft, what do you do with the cash when you've cashed out?
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>> with our clients, it's about protecting what they've built and growing it when growing season is there. so sometimes cash is king. in 2008, when we were sitting in cash the whole year, we made zero. but zero is better than losing 50% of your money. right now, we're in a weird time with interest rates as low as they are and cash not paying anything. but that's still better than losing. the only way you can play- tnlyay y canivo fig anotr ds if u don' get kledn the currt vue. you s even as we go into negative interest rates around the world, even if we get negative interest rates, would you hold on to cash and a deposit? >> you have to look at your alternatives. in a negative interest rate environment, it may be that bonds are a better place to put your cash. our first move when we tell our clients to get out of the market is to sit in cash. if we take them to a
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safe has harbor we want to make sure it's safe. bear markets don't last if you. have a property design plan, you'll participate in the rise after that. so i'm less concerned about being out of the market as we were in '08 and half of 09 dat making zero than i am my clients losing their money during that period. >> thank you very much. appreciate it. (?) it's my pleasure. thanks for having me on. >> after nearly 30 years in the senate, democratic minority leader harry reid is retiring. >> and the announcement it paves the way for a potential power struggle within the democratic party. who will be the lead in the senate? rich edson joins us live. what do you have for us? >> there are divisions among democrats on how progressive or receptive to wall street they want
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their party to be. in announcing he's deciding against running for reelection in 22nd, harry reid said he's supporting chuck schumer to proceed him. dick durbin is second. durbin has paved the path for schumer. though progressive groups prefer another candidate. schumer has strong wall street connections and fundraises well among companies. in a statement, progressive group democracy for america writes, if elizabeth warren doesn't run for president, she should run for leader of the senate. the election for next democratic leader shouldn't be a slam-dunk for any frontrunner especially someone close to wall street. the wall street wing of the party is dying and the elizabeth warren side is growing. -- against democrats. with some reportedly threatening to withhold donations to democrats in protest. back to you. >> all right. thank you very much.
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rich edson. >> well, the battle over the economy today's economic numbers didn't paint a pretty picture. growth stalled. 2.2%. can the us pull itself out of a slump or is this the new normal? >> plus, what is driving up your car insurance bill? this study breaks down the biggest factors. here's a hint. get married. that's next.
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. cheryl: once again, we want to update you on breaking news. up 32 minutes from now, we are going to get a verdict in the ellen pao kleiner perkins lawsuit in san francisco. our producer is going to join us to give us an update on exactly what the attorney asked for. we will have the news breaking 32 minutes from now and update in just a moment from our
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producer. what you pay for car insurance doesn't just depend on your car or driving history. it also depends on your marital status and gender. according to new study, a single person pays 21% more than a married person for the same policy and age also matters. married drivers in 20s get bigger discounts than married drivers in 30s bhchlt it comes to gender, on average, men pay more than women when younger. sometime as much as 22%. there is good news, car insurance costs for men and women decrease every year, until the age of 60. that is good news. david: that is good news. oil has made a significant move down today, but what happens to oil prices if the two oil heavyweights, saudi arabia and iran, go to war? let's bring in today's panel, john tamny from real clear markets and jared levy from profitable trading.com, and fox
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business' adam shapiro, adam, i imagine the price of oil will go up. don't you? >> i imagine you are right. with the economy slowing down in places like asia, it would be a nightmare scenario. david: it would indeed, john, you have a more libertarian view of the whole oil market, explain. >> the market is a dollar story. if the u.s. stays out of conflict, there would be no oil story. let's face it. david: hold on, let me just press you on this. even if they come to blows because some of the talk between iran and saudi arabia does not look pleasant over the past couple of days? >> if they come to blows all the more so. the oil is going to flow more in that instance, they're going to need funds to fight the war. david: jared, what do you think? >> i argue that point. first of all, by the way, saudi arabia has the support of all the countries around that area to go into yemen and clean out the area and get rid of the
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militants. i don't think they're going to go to blows with iran. david: the militants are iranian proxies, and iran is trying to grow its hegemony all over that region, whether it's yemen or lebanon or syria or wherever. >> and this is the complex thing, david. remember, we're still in talks with iran regarding a major nuclear issue, right? and i think just to wrap your head around it and get an honest answer out of anybody and figure out the impetus of any of these folks is extremely difficult. what i do believe is i don't think this is going to escalate into a huge war. they don't want it and hoping, like the other gentlemen said, they got to keep the money flowing. david: quick question to adam about this, on sunday, we may have some agreement between the iranians and the united states on the nuke issue. is that going to affect oil? if there is an agreement, that would affect the price of oil?
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>> directly, no, but going to anotice the saudi arabians, they don't want iran getting a nuclear weapon. you don't hear anyone saying this will prevent them from getting a nuclear weapon. it's a delay. they may build their own nuclear weapon. off to the races, here we go. david: corporate profits fell for the first time since the 2009 recession, but other signs are looking positive. slow, but positive. so is the economy on the way up, or is it going down, jared, what do you think? >> i haven't seen much positive, david. you look at personal spending, the gdp revisions, housing is the only thing holding on, and if you look actually at q1 estimates, david, they've dropped the most since january that we've seen for years. three, four, five years, that tells me corporate profits are having a problem. they're not spending, so i don't see a way up here. i don't see warm weather being
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a catalyst. i think we move lower. david: john, encouraging news from small businesses, they apparently had a better quarter in the first quarter of this year than was expected. there is positive movement. >> yeah, look, economies are always growing, and this is true when they're recessing. all recessions are recoveries where you clean out all the bad stuff. we have gridlock in washington and a stronger dollar that is a lure for assessment. this is a growth story not recession story. david: look at gridlock and washington, which the market -- >> clean out the bad stuff that caused [inaudible]. david: have you positive signs, go ahead. >> the economy is stagnant and not go to grow at gangbuster rate that we need to get people back to work or the salaries before they got laid off which is the other issue we don't talk about. if you are making $60,000 a year and you got laid off, and got a new job, chances are you
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are not make $60,000 a year. which is the other reason consumers are not spending. shareholders, who the taxpayers saved when we made the banks bigger than we were before they brought us the financial collapse. david: gang, we have winners and losers coming up. i see john doesn't agree with what adam said. we'll discuss that in the next segment. stay tuned. cheryl, what else is coming? . cheryl: in about 30 minutes, we are going to get a verdict. the jury reached a verdict in san francisco. the ellen pao sexual discrimination trial against kleiner perkins. 160 million could be on the line for the firm. we'll have a live report ahead of the verdict from our produce or the ground. also, if you're a college student or know one, you want to listen up. there's an easy service connecting students with employers for odd jobs to help them gain experience and save money as well. we'll talk to the ceo coming up. plus, called the sadie hawkins of dating apps.
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. cheryl: once again, the breaking news we're following on fox business, 22 minutes from now, a verdict from the jury in the ellen pao kleiner perkins lawsuit again. an employ of the company. she has been suing the company. the jury has been deliberating for the last two days, and told
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the jury is coming back with a verdict. i want to bring in a producer. i understand that the jury asked for a few things to be brought to them today. tell us what they asked for? >> that's right, cheryl. they've been deliberating for 2 1/2 days, and it's been relatively quiet, but this morning they asked for readback, and specifically of three items. they wanted readback from a 60-day performance plan they put ellen pao on. they also wanted readback from a senior partner who testified here. and he said something very important for the jury that pao didn't have the right, quote, genetic makeup to be a venture capitalist and asked for readback from john door, the head of kleiner perkins. just about 15 minutes ago, we received word they're going to
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read the verdict that this jury has been deliberating for 2 1/2 days. it's made up of 6 men and 6 women, kind of a cross-section of artists, there's an artist on the jury, a prison nurse, a b.a.r.t. station manager, a female mid-level executive. so it's a cross-section of san francisco, if you will, and they have reached a verdict. they have to come up with -- they have to find four specific counts. two counts of discrimination, and two counts of retaliation by kleiner perkins against ms. pao. that i have to show in the seven page jury verdict form that kleiner perkins discriminated against pao based on her gender and have to show that cleiner perkines oo or agree on that kleiner perkins retaliated against her after she complained and kleiner
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perkins failed to take steps to prevent discrimination at the company and that kleiner perkins retaliated by firing her. cheryl: wow, what is so fascinating about the case is the fact over the weekend, the judge, she was suing for 16 million, the judge said she could sue and get punitive damages of 144 million dollars. this could be a $160 million verdict coming up in the next 20 minutes from now. thank you very much. appreciate it. david: if she wins, she's got to be the winner of the 140 million plus. it is time for winners and losers of the week. a lot of stumbles and triumphs. who were the biggest winners and losers? start with the winners. john, who's your winner? >> late dean smith basketball coach for north carolina. left $200 to each of his former lettermen. a sign he is compassionate. david: adam? >> new york city, saw the explosion yesterday but the
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story locally getting headlines was the firefighter who actually climbed up an escape, one of the outdoor escapes to save somebody who is trapped and couldn't get down. david: and can't forget the 133 who died in one day on 2001. jared who is your winne >> valero did a great job capturing low oil, higher fuel prices. they returned about 10% plus to investoirs and think they'll continue to climb. refiners are looking good. david: my winner is anybody who held stock in heinz, up over 40%. let's go to the losers, jared, who is your loser of the week? >> based upon what we know, my loser has to be the copilot of the germanwings flight that went down. we put our faith and trust in policy, and thousands do such great things for us, and this gentleman betrayed the trust and took the lives of 149 people, and for that, he's my loser. david: not to mention his own soul.
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adam, who's your loseer? >> american foreign policy. this deal you are talking about with the iranians on sunday. who's side are we on? one case we want the iranians with us as we stop isis and iraq, we're about to -- i can't say pisz off on tv, can i? david: you just did. >> allies with iran, this is just nuts. david: it is crazy. john, who's your loseer? >> property rights in indiana lost this week for the state protecting the right of people to do what they will with property, they are being pillaried by the national media. it's a shame. david: my loser of the week is harry reid. you know, a lot of people dump on him, he lost the senate, he lost his ranking in the senate. he's going to be giving up that and, of course, he lost his balance as well. we all saw that picture of him with a black eye and the bloody face. let's wish him the best for retirement, all right? very best to harry reid.
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thank you, john tamny, jared levy and adam shapiro. you can join john, adam and myself on forbes on fox, a great show for tomorrow, 11:00 a.m. saturday on our sister network the fox news network. cheryl: my favorite saturday show. are you a small business and can't afford to hire more staff or a college student and need extra money? coming up, the ceo of a company working to connect employers with eager college students in their area. david: also is the coal industry so last legs? as greed regulations siphon money away from it. jeff flock joining us live from a coal plant that is closing, next. every day, our teams collaborate around the world, to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients. it's a uniquely collaborative approach you won't find anywhere else.
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remember, medicare doesn't cover everything. the rest is up to you. call now, request your free [decision guide] and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ . cheryl: need help around the house? maybe at the office? quad jobs is a platform that seeks to connect employers with local college students looking to earn extra cash and further work experience. the platform expanding at a rapid rate as it plans to move into new cities. joining me is the ceo betsy reilly. welcome. >> thank you for joining us. cheryl: you started a career in banking and decided to help college kids get jobs. >> that's right. cheryl: how does this work between employer and student? >> yep. we started it because we felt with 85% of college kids right
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now on some form of financial aid, there was a desperate need for kids to find jobs while in school, flexibly and on their own time. employers can post jobs on the site and go to college students in the area that have chosen the categories of interest. cheryl: columbus, ohio, chicago, minneapolis and nashville. how do you screen the employers and kids, safety is a huge thing. >> a huge concern. students can apply if they are registered college students with active edu address. on the employer side it's quite a process. we have a number of screens in place, we encourage students to ask for references, to ask to speak to other students who worked for that employer in the first place. the students have numerous points in the process to report a job that looks suspicious before taking it and encourage them to do so, easy to do on
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the site and look at jobs on the site. cheryl: what are the most common jobs? >> it's funny, we thought baby-sitting was going to be a solid half of the jobs on the site. it's about 35%. baby-sitting or child care related jobs. we see everything. i'd say about 10% of the jobs are internships. 10% are office work. retail work. we get lots of personal organization, a lot of garage cleaning, moving furniture, hauling things to the dump. cheryl: what about small business owners? flower shops in the age of obamacare. >> i'm so glad you said that. small businesses are a huge percentage of employers on the site. everybody from start-ups to small businesses that really can't afford to bring on permanent health. so use our site. that's a great source for flexible resourceful site. cheryl: the site is quad jobs.com. thank you very much. looking forward to the expansion. >> thank you.
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cheryl: david? david: the fire is dimmer for the coal industry. new legislation introduced in illinois has the potential to push coal plants off the grid. jeff flock from the legendary stateline coal plant on the indiana-illinois border. it's not doing well, jeff. >> reporter: samuel insole built this plant in 1929 it. should have been shut down but there have been a lot shut down and probably even more, illinois is considering legislation that would require all of its electric companies to generate about 70% of their electricity through something other than coal. take a look at bill. it requires electric utilities to procure low carbon energy credits equal to 70% of each utility's annual sales, shuts cole out of it there, and reduces coal's overall role in
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energy generation, 50% from president obama took office to under 40%, and i tell you, there are people that may not be happy about that, but if you look at where the investment dollars are going. take a look at coal etf versus brook energy partners. coal down 54% -- no, 64%. make this point, david, it's not just environmentalists pushing this legislation in illinois. exelon, the power generation company is heavily invested in nuclear, and that is not carbon either, and so that qualifies to get the kind of the subsidy under this. so it's a coalition of both environmentalists as well as exelon and nuclear power generators trying to push coal out. david: some of the coal companies are down 90%. it's awful. >> reporter: incredible.
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cheryl: thank you, jeff. coming up, we are minutes away from a jury verdict in the elin pao sexual discrimination case against kleiner perkins. could be a landmark verdict for silicon valley. we'll hear from a former federal prosecutor what he thinks of the case? >> i'm gerri willis, coming up on my show, a verdict in the big sexual discrimination lawsuit in california. the jury verdict could be read at 5:00 p.m. eastern. one of the big stories on "the willis report" in just a few minutes.
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. cheryl: as we've been reporting, the ellen pao verdict delivered at the top of the hour, 5:00 p.m. eastern time. joining us doug burns, former federal prosecutor. the jury only deliberated 2 1/2 days, what does this mean to you? >> interesting, there was a lot to work with on both sides. the plaintiff had the fact that she was a graduate of princeton with an electrical engineering degree. she also had a degree from harvard law and harvard business school. but on the defense side, of the case, they were saying she's not capable of getting along with people and very difficult to work with. to me, it was a little like each side cancelling each other out. the fact that the deliberation was somewhat quick, again, it's very hard, any trial lawyer is going to tell you, you can't handicap what the jury is thinking. i don't see necessarily a huge plaintiff's verdict, cheryl. david: let's talk about the
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money issue. a huge amount of money, 140, i've heard 160 million. how much leeway does the jury have to come up with a figure of their own if they think there was just cause? >> excellent point. they are identifying a key point, they have tremendous leeway. we've seen cases over the yours, and i'm pulling one out of left field. football antitrust case, $1 recovery. they can do anything they want. so again, i'm not so sure. i don't think -- i think on the question, the question of punitive damages, i don't think you're going to see a lot there. and i think you will see the jury exercising discretion in the amount. the crystal ball. cheryl: the jury asked for some things to be reread. one was the fact it was said she was quote, unquote genetically incapable of doing the job. that seems to be a racist statement to me? >> that seems off the charts. the caveat, i didn't follow the
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trial testimony as it happened. but that, obviously, you know, you would think there would be some kind of instruction or strike that after the record. that can't possibly be, as you're suggesting, a valid basis for anything. but it's starkly contrasting portrayals, brilliant ivy league genius on the one hand. on the other hand, no, no, no, she couldn't get along with people, couldn't get the job done. not to be a broken record, i think it cancels itself out to some extent. david: why do you think it was that kleiner perkins didn't settle? >> that's a good question, david. you never know why that is. the standard notion, of course, is they felt that the case was without a lot of merit. i think they felt, to answer your question, david, that you had to see the credentials, but that was superficial, and that they wanted an opportunity to show that. doesn't matter what degrees you have, if you can't get along with people, you're not right
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with the fit. david: it does not solve everything. doug burns, thank you very much. the decision will be read on "the willis report" coming up. cheryl: coming up right now. breaking news, stay with fox business. gerri: hello, everybody. i'm gerri willis. we begin tonight with a verdict in the ellen pao sex discrimination suit against kleiner perkins. this is a big, big case with implications for workplaces all over the country, and it's already having an effect on the tech industry in silicon valley. ellen pao is a partner at one of the most well-known venture capital firms in the country, kleiner perkins, that is the company behind some of the biggest names in tech like amazon and google. pao is suing kleiner perkins for sex discrimination. the jury reading the verdict in the courtroom in san francisco right this very minute. there are no cameras in the courtroom, but we have a producer inside who will be able to tell us the verdict on the four count

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