liz: four seconds left at the close before we hear bells ring. they clang both on wall street and of course the nasdaq. [closing bell ringing] liz: look at crude oil dropping pretty precipitously. adam: stronger dollar has impact whether you like it or not. we'll talk with phil flynn of price futures group and fox business contributor. joins us from the pits of cme in chicago. phil there is optimism in greece. is it driving the market or something else at play that we haven't paid attention to? >> i think it is the adp jobs

report riling the markets. before greece started to melt down, that would not have been the case, adam. they would have been concerned about the fed raising interest rates. forget that right now. with stronger jobs data and black cloud overhappeninging with greece. economy is getting better. fed might not raise rates i think is positive for stocks. liz: you know, i bet the construction business was a little annoyed because nobody paid attention to may construction spending. that was the best number we saw in six 1/2 years, phil. look, you could look at the homebuilders say they're still sketchy but the country would like to see a healthy construction business right now. >> absolutely. that is one of the underlying story and one of the reasons why oil should be rocketing right now. if you look what is happening in

the oil market it is bouncing right back. economy wants to take back. it is held back with concerns about greece and concern about taxes. concerns what the obama administration may do next but it really wants to take off. liz: phil, you know this better than anybody, oil supply because we have much more freedom in this country to pump and pump, of course there are sanctions against iran, forget it we have a lot of supply, not that we got oil from iran. >> look at what happened to today's number. everybody was celebrating, we have a 2.5 million-barrel build. everybody was looking for a drawdown. they shouldn't have been looking for a drawdown. last week's numbers we saw huge drop in supplies because of hurricane bill. any analyst worth their salt should have realized we would not get a bounce off in that number. i think there is something more going on. we knew opec was pumping near record high. that is not a surprise of the we knew the u.s. was pumping a lot of oil.

the difference, liz, when you look at inventories, the demand section seeding expectations. with the dark clouds in greece, that may not happen. adam: phil flynn, we appreciate it. we'll keep talking about oil and greece but right now our attention is on greece because all talks are off until citizens weigh in on a vote this sunday. according to a statement by the head of the euro group, this just took place last hour, the greek finance minister says the government wants a deal with creditors by monday. ashley webster joins from us athens. ashley, what are the greek people supposed to do until then? who do you believe? it keeps changing literally by the minute. >> it truly does. i don't think they believe anyone. i think ranking of politicians is pretty much the same as it is in the united states, not very high but real, tangible issue obviously for the greek people. some banks opened today allowing pensioners, senior citizens, access to their pensions. not very much though. up to 50 euros.

one woman was only able to take out 50 euros. so the banks remained closed but tension remains high and now we have this vote coming up on july 5th, a yes or no vote and greece's prime minister addressing the country today in very defiant and at times combative tone, once again accusing eu creditors of blackmailing greece into economic eforms he says are just too painful. here we are, the e.u.tecttores say we'll not talk to you until after we know the result of that fault. campaigning now begins. as we know that the rest incident government wants to -- resident government wants to say no. adam: ashley, i have to ask you. you're right in the thick of it. >> yes. adam: you're both sides there, one say no to austerity and one say yes to austerity, who do the greek people hold responsible for the predictment? do they hold governments responsible for the path they are been down or blame

government and ecb? >> i think they blame the government. they blame previous governments but they also believe that the european creditors, large number do blame them for being too harsh saying they're living on salaries, pensions below the poverty line. they say it is unreasonable to be expected to take more cuts to their pensions. at the same time, they understand how they got into this mess because of the way the government handled its finances so they're just mad but ultimately adam is comes down to basic necessity. they need the money to pay their bills, obviously to buy food. frankly no matter what way this turns out they know life will be very difficult either way. adam: ashley webster in athens live, thank you very much. liz: doesn't sound like they're really taking responsibility for their own situation. for more on this, i want to we have the jim from heritage foundation. let's get what happens in the

vote. seen conflicting polls. some vote yes for austerity. others say no, which means basic eventual exit from the eurozone? >> i think it is indicative the finance minister is sounding conciliatory, okay, if you vote no that doesn't mean we'll leave the euro. rest assured they're seeing internal polling showing majority of people do not want to go back to the drachma. they want to stay in the euro and ire rohn zone and in europe. if it weren't so tragic this kind of act of good cop, bad cop being played by the same guy, the prime minister would be funny but it's pretty strange and i think it is giving people a lot of second thoughts. liz: then he is confusing and tricking his own people because a no vote means they eventually will be jettisoned from the eurozone. if you don't stick to the rules you have to get kicked out or other countries such as spain and portugal, look what they got. we could do the same.

isn't a slippery slope, jim. >> you're exactly right. why european union, european central bank, various powers that be, germans, are taking this hard-line now. they know you will look at billions of euros bailouts if everyone else in the southern tier, italy, spain, portugal sees that the greeks are getting completely bailed out without any responsibilities. they will start demanding the same thing. liz: doesn't it amaze you. we had former prime minister. they took the hit. ireland is back on its two feet. the same prime minister, basically said, this was his quote. these guys in greece are acting like juveniles, like juveniles. how long does tsipras remain in control? >> doesn't sound like he will remain in power much longer if

it goes to the yes he vote if it stays some kind of form in the eurozone or dollar like, or full membership. if he loses then i think his days would be short in office. liz: jim roberts, heritage foundation, thank you so much. we appreciate it. adam: closer to home a big hurdle for puerto rico's debt problem for now. one big borrower, the electric power authority, will make 416 million-dollar payment to creditors due today. go to elizabeth macdonald for details. they have a payment coming up july 10th. the question, will they make it? >> that is exactly right, good to be with you, adam and liz. nerve-wracking day, the power authority was scheduled to basically default today. you're right, they refinanced 415 million bucks. this authority owes $9 billion in debt. the question will creditors continue to work with

puerto rico's not just power authority but water company and other companies in puerto rico issued debt that they want to and need to restructure. we looked with "morningstar." there are nearly 340 muni bond funds here in the united states with exposure to puerto rican debt. 60% of puerto rico's debt are owned by muni bond investors here. these are household names. oppenheimer is a big player in puerto rican bond debt. american century, franklin temple 10, spdr nuveen, high yield municipal bond. this w3ll sort of be a rolling crisis. talking to muni bond investors if you see high yield, you want to see if puerto rican debt is in there. you will have whipsaw action and volatility. it will feel nerve-wracking as we go into this as they restructure the 72 billion-dollar in debt. doesn't count the 50 billion

doll in health care liabilities. adam: some have 30 to 50%. unbelievable. a lot of retirees with the funds. emac, thank you. >> sure. liz: new chapter for the united states. historic deal with cuba after 55 years of contention. the impact on americans and american business. we're the business channel. coming up. adam: and the case of hillary clinton's missing emails. what new documents are he revealing about the presidential candidate. liz: plus those reruns of hazard, "the dukes of hazzard"? why an iconic tv series is being pulled off the air. uh-oh. ♪

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adam: president obama announced historic shift with u.s. policy after 55 years the u.s. is going to have full diplomatic relations with cuba. steve, i'm particularly curious

is anyone addressing i think $8 billion that cuban exiles laid claim to in regards to property that was seized by the communist government? will restoring of relations lead to resolution of that? >> that certainly one of the main concerns of opponents of obama's policy what about all the property confiscated by the cuban government. other concerns as well. what about the fact that refugees from u.s. justice are actually on the island of cuba. including a suspect in murdering a state trooper. a lot of real concerns. the debate will continue for a long time. today in the rose garden, president obama making the case the way forward was full relations. this will be, at bottom, good for the cuban people. and that it would -- >> nobody expects cuba to be transformed overnight. i believe american engagement through our emba sir, businesses and most of all through our people is the best way to

advance our interests in support for democracy and human rights. >> now opponents of this policy say the exact opposite is the case. because the cuban government controls so much. economy that by closer ties with the u.s., more tourism, more trade, more money flowing in it will simply extend the life of f the cuban dictatorship and fight for ambassador to cuba and money needed to restore the u.s. embassy in havana. we could see a visit in the short term by secretary of state john kerry. longer term possibly by president obama before his term is up. if he travels to cuba, he would be the first sitting president to go to that island since 1928. back to you. adam: steve harrigan, thank you very much. liz: both countries agreeing to open embassies in each other's capitals. this is major step establishing full diplomatic ties. this comes one week after the administration tags cuba as a human rights abuser.

which is it? will this decision change anything? joining me ric grenell, former ambassador to the united nations and fox news contributor and todd starnes, fox news radio. rigg, do you first. there are conflicting messages here. do you sit there stuck in the mud or figure out relation as we go along? >> let's be very clear the relations between cuba and the rest of the world have been open and constant for many years. canadians, americans, latin americans, have all been doing business in cuba. it hasn't worked. if president obama wants to talk about a policy that hasn't worked and needs changing, then we need to get tougher with the communist government in cuba because what is happening right now, is there is a whole bunch of commerce going on. it is just the americans are not participating in it. >> todd, less than 11% of people in cuba have cell phones and

cell service. look at it two-ways. one side, oh, this is great opportunity for us. the other side, this is not an open society at all. what makes the president think he can really change that? maybe history is on his side where other presidents reagan among them, opened up relations with certain countries and happened to be close and things work out? >> if you look at the president's strack record of wanting to come in and really create a new kind of society, look what happened with the arab spring. instead of creating a new and happy environment, the president creates chaos. so at the end of the day i'm not quite sure that he is really wanting to change anything. there is a lot of talk inside the beltway this president certainly feels a sense of freedom to do whatever he wants to do, especially after the two supreme court victories that went his way. quite frankly i'm not sure of the average american is at the point where they're ready to back their floaties and coppertone to head down to

havana. liz: we had phil keithing from fox down there saying there are so many businesseses like charter boats, they're taking up the cuba.com opportunities down in miami. there are people raring to go. >> look, i would be the first one to admit if engagement with a communist country was going to change the communist country, we should do it. liz: okay. >> certainly having a hyatt hotel or chipolte restaurant, that is good for american business but if those types of endeavours work to bring down communist governments then we would see the chinese people with a lot more freedoms. we don't see that. our problem is with the cuban government, not with the cuban people. the cuban people of course need more money but when a government like the united states or the european governments begin to do more commerce inside of cuba, it is padding the pockets of the cuban government, not the cuban people. liz: that has got to stop,

definitely. listen thanks to you both. ric and todd, we appreciate it. adam: breaking news for you. illinois senate pass ad one month budget to fund essential services. the governor is expected to reject that. he already indicated believes the bill is unconstitutional. illinois has a balanced budget amendment. he says it would violate the constitutional requirement for a balanced budget in that state. the u.s. is boosting security measures ahead of holiday weekend. law enforcement on high alert this 4th of july. "the donald" throwing down, not mincings any words. telling all how he feels about jeb bush. uh-oh you total your brand new car.

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liz: the seventh short attack in four weeks again off the coast of north carolina. hyde county ems officials say the shark attack was reported on the outer banks, this time off okrakoc island. a 67-year-old man was reportedly swimming accounting a gray shark approximately 6 to 7 feet long. the shark pulled him underwater and bit him multiple times in rib cage, hip, lower legs and hands. amazing he survived. he is being treated for his injuries. adam: high alert on 4th of july. real concern about possible terror attacks. peter barnes in washington, d.c. with more details. peter? >> adam, a dhs official told me law enforcement agencies continue to prepare for a possible terrorist threats this weekend. last week as you recall dhs secretary jeh johnson issued a warning about them after isis related attacks in france, kuwait and tunisia. he said with the upcoming

4th of july holiday, quote, the department of homeland security and the fbi continue to communicate with state and local law enforcement about what we know and see he. we are encouraging all law enforcement to be vigilant and prepared. we will also adjust security measures seen and unseen as necessary to protect the american people. the white house said these kinds of threat alerts are not uncommon ahead of the 4th of july holiday and added it is on no specific credible intelligence to indicate any threats against the celebrations this weekend but the white house noticed recent calls for attacks by extremist groups. >> we have repeatedly seen calls for violence over the past year by leadership and supporters of isil against members of the military and military installation, law enforcement, u.s. government and the american public. we're mindful of more recent call by leaders of isil and other extremists to carry out attacks over ramadan which were

obviously we're in the middle of now. >> and on those attacks in egypt today, officials said they had not yet linked them to isis or isil. adam, back to you. adam: peter barnes, thank you very much in washington. liz: we have some very important stories elsewhere on our radar. a statue of the ten commandments on the grounds of the oklahoma stay a capitol will now be removed. the state supreme court ruling it violates a constitutional ban on using public property to benefit religion. the move is prompting several calls from several republican lawmakers for impeachment of the seven justices who voted for its removal. say good-bye to bo and luke duke. a week after warner brothers would no longer sell "dukes of hazzard" merchandise featuring the confederate flag, tv land says pulling all reruns of the tv show that had been airing on the network twice a day. turning to sports, the new orleans pelicans not wasting anytime. as soon as free agency period

began at midnight last night the team sign ad five-year, $145 million extension with anthony davis. that is the biggest contract in nba history to date. wow. not bad. adam: i would take those terms. five years, 145 million. i would take 140 million. liz: i think about it. then i take it. think about your close-up. white house reversing a 40-year-old policy but have to leave the self if i stick at home. adam: referendum goes on. greece goes bust. latest developments live from athens next. ♪ hey honey. huh. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck. a dry mouth can be a common side effect. that's why there's biotene. it comes in oral rinse, spray or gel so there's moisturizing relief for everyone.

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adam: greek citizens now part after nation in default. they're set to vote on referendum in hopes a deal is reached to turn things around. ashley webster live in athens, greece. we got comments from chris lien leg guard, she says -- christine leg guard. she is not certain of status of upcoming negotiations. how does that play, ashley. >> that is interesting. christine leg guard could have granted a greece that payment but they couldn't find an open bank. boom, boom. nothing, just crickets. liz: [inaudible] >> thank you. i said joke earlier with charles

payne got nothing. liz: love it. >> told the crew here, thank you, liz, great audience. listen there is not a whole lot of negotiation. nothing happens before this referendum. quite frankly, you can sense the frustration of the e.u. creditors. they don't want to be dealing with this guy anymore. i think the hope of angela merkel from the very good, have the referendum. if we get a no, you're out of the eurozone. if we get a yes, mr. tsipras, you're out. they want to deal with more centrist or center-right coalition party who will negotiate in good faith and they will have more faith in. listen, right now this government will say anything, and i don't think the e.u. negotiators believe anything at all that they're being told. so tonight the finance minister, yes, quickly the finance minister went on television, hey, next monday we'll have a deal in place. the banks will be great. who believes that? i don't even think the greek

people believe that. adam: i'm thinking back to 2008 the financial collapse all of us can remember. hank paulson was concerned about atms running dry in the united states. you're on the ground in a country where this is happening. >> yes. adam: really boiling down to people how will i buy food tomorrow. that is what we're really talking about here, isn't it? >> yep. it really is. at last count 40% of atms have cash. that number has dropped off. government says we'll refill them. hasn't happened. another broken promise. there is a lot of fear. with can you do with 60 euros is not a lot. 66 bucks, thereabouts. they have to get food and bills to pay. there is a desperate situation, no doubt. quite frankly between now and july 5th it is only going to get worse. adam: ashley webster, i think margaret thatcher is thinking in heaven, socialism is great until you run out of other people's money. thank you, sir. liz: what comes out of all of this? with me now, in our fox business

panel, rob morgan, he is keefe investment officer for setli financial group. along with david silverstein, breakthrough international group. david, we're hoping for a breakthrough certainly. we have to wait until sunday and the referendum. adam articulated it really well. people will come down to one simple thing. do i have enough cash to pay for food? will that then force a yes vote, let's stay in the euro. let's take our medicine and deal with the austerity on sunday? >> this has become basically a multiparty chess game. trying to predict anybody is going to do right now means thinking that they haven't already thought two or three moves ahead. right now you have the politicians, bankers trying to figure out what each other is going to do. there is this third party. the people, the vote is there. making any kind of predictions right now is getting really, really difficult. liz: rob, you want to take a crack at it? i know it is tough. there seems to be only one

logical answer unless the russians swoop in with the last second, magnanimous, here is a loan for us? that that could be disaster too? >> liz, we still have to manage money for our clients. we're looking at worst-case scenario. what if greece gets booted out of the eurozone? this can be contained for a number of reasons. i can certainly dive into those now if you like? >> liz: give us one. give us a main one. how does it get contained? with a yes vote? >> i'm assuming, i'm assuming the worst-case scenario. i'm assuming they get booted out. i think ecb qe program will broadly get liquidity. specifically in this case a e.u. rescue fund is set up last five years to assist spain, portugal, italy with the borrowing costs we're they're seeing rising right now. you mention in an earlier block ireland is growing so well.

spain, portugal and italy are growing quite well. finally in the five-year period where we see this greek tragedy occur over and over again, european banks cut their exposure to greek debt from 200 billion to 35 billion. so you know, i, i think, obviously on monday we saw 300 point decline in the dow. will we see some rockiness from this? yes but i think it can be contained. liz: david, what's your thought as we move forward through all of this? say that it comes to pass that greece doesn't make it and they get out of the eurozone. does the rest of the eurozone survive? >> i think that is, that is really the question but what does it mean to get out of the eurozone? greece needs another currency. even that is open-ended question. everybody thinks it will be the drachma. there is nothing that says greece can't stay on the euro. there are plenty of countries that trade the euro, use euro as currency not in the eurozone. there is an extreme

circumstances we're not even thinking about. if europe were to cut off greece's ability to play in international commerce, do they start transacting in chinese renminbi? they need something that is going to work. even starting to predict what that future currency will be, there is no legal means right now for even kicking greece out of the euro. so everybody thinks there is going to be a decision made on monday, regardless what the vote says we're not going to have an ultimate outcome on monday. liz: i don't know how it is not legal if you don't pay your bill and don't pay your debt, you're out but we'll see, we'll see. i hear what you're saying. david, thank you very much for weighing in. we appreciate it. >> thanks, liz. adam: the government is investigating possible collusion in the skies. the justice department is looking into whether or not major airlines actually conspired to limit number of seats available on flights in order to keep air fares high. fox news correspondent rich edson is in washington, d.c. with the latest. rich, tell me it is not true.

>> reporter: the investigation is, according to justice department spokesperson, adam. the government is investigating unlawful coordination, in other words potential that competing airlines are planning executing a strategy illegally to keep prices high. united and southwest confirmed inquiry. we're waiting on other airlines. associated press says government requested copies of all communications airlines had with each other. investor are reacting to inquiry. down across the board. looking at airline stocks. airline industry group in washington says the feds will come up empty-handed on the inquiry. spokes fern person for airlines of america. we're confident the justice department will find what we know to be true. our members compete vigorously every day and traveling public is the beneficiary. as transportation department shows, domestic fares are down in 2015. the government challenged a mergers among unprecedented consolidation.

they resulted in concessions from airlines surrendering valuable spots in airports to competitors before they allow mergers. american, delta, southwest, united control more than 80% of domestic seats in this country with the average domestic air fare increasing 13% from 2009 to 2014. back to you. adam: two million people flying each day, still can't get a decent drink for free. rich edson, "fox news channel." liz: hillary clinton has more mail. new information from her second batch of missing emails. that's coming up. prepare for more pain at the pump. states are hiking gasoline tax just in time for july 4th travel. that's next. the

liz: new batch of hillary clinton emails. released by state department. it turned out to be 3,000 emails. including some exchanged with controversial advisor sidney blumenthal.

blumenthal, former senior advisor to president clinton was reportedly prohibited from taking a job at the state department by the obama administration but nonetheless the emails show hillary clinton regularly communicated with blumenthal exchanging some sensitive information, even getting notes on him from speeches she had given while secretary of state. only 7% of clinton's emails have been released. we're expectinged to see many more in the weeks to come. we'll reveal anything important to you. adam? adam: liz what is the impact from the email fallout. what impact will it have on 2016 email run? we have a democratic pollster and democratic strategist. ron chris at this, ceo of christie strategies and former assistant to vice president dick cheney and "forbes" political analyst, carrie sheffield. one email talking about rugs she

saw, wanted to find out they were made. is there anything serious jeopardize her we've seen? >> not from the rugs, no. how to work the fax, no. but it raises questions about what she was doing. she wasn't supposed to be talking to sid blumenthal about sensitive information. she clearly was. the most interesting thing how bad the relationship between secretary clinton and obama administration was at the start. she didn't know if she would be invited to a cabinet meeting. adam: you're nodding your head, this is, could play well for her? distances her from the obama administration, ron. but the fact that the administration, now we're finding out those in the administration knew she had private email server. this doesn't bode well for the administration? >> doesn't bode well for administration. rather than say something this is something good for secretary of state i think is bad. one thing mentioned, sidney blumenthal. was banish inned by the white house. they didn't want him anywhere near the white house.

shows she had continuing relationship with him. now looks like she had three separate email accounts. david axelrod, senior advisor, if i was there, senior advisor i would have known something about this turns out he sent email to the server. there are a lot of unraveling parts. adam: i want to ask one thing, carey. will hillary clinton continue to lose her baseballs inconsistency of these stories. >> they don't seem to care. this is 3,000 emails. we'll never get the full truth. point on messaging though, people keep saying word benghazi, benghazi. it is foreign, another country, weird word for average american. we have to talk more what this was, which was the death of christopher stevens. this fact that american serving overseas and human being and human lives lost here. adam: something that personalizes story and makes it real for people. >> right. adam: another story real pour people and that is donald trump.

>> so real in my face all the time. adam: let's play for you the latest from mr. trump. then we'll talk about. >> i don't get jeb bush at all. and he is at one and i'm at two. a lot of people are very far behind. adam: i don't think that, well the polls, ron, mr. trump is doing well but is he going to sustain it? >> no. remember he has been number two before. i think donald trump is all about publicity, all about himself. it is very interesting i found he had opportunity when he registered as candidate to fill out a one page fec form. he has 120 days to fill that out. he hasn't filled it out. i think he sticks around and keeps publicity out and drop out in the fall. >> does nbc take him back? >> no. adam: macy's dropped him or he dropped macy's depending who you believe. mr. combover, what is going on here here he is firing people. the thing is, he is neither a

politician nor a businessman apparently because he doesn't know how to keep his mouth shut to stop offending businesses. he will not get on the debate stage. i don't think he will score enough in the polls to get in the top 10. adam: real quick, not only offending businesses and people -- >> entire nations. adam: entire country. >> this is real high level offense. adam: this from george pataki. listen to this and talk about. >> yes, we have to secure the border. yes, we have to know that people are coming here legally but that type of comment is just beyond the pale. i reject it. by the way, trish, i'm calling on every other republican candidate to stand up and say that what donald trump said is wrong and they should repudiate it just the way i am now. adam: is that going to resonate with people, jessica? or will people do even know george pataki is outside of new york? >> you might have seen his launch video which i thought was really good. he had a little spike for a second. i think that will resonate.

we need to hear on jeb bush from this he has been leader on immigration reform for the republican party. >> did hillary repudiate when bernie sanders said -- >> no. >> that not same thing. >> i think it is worse. >> really? >> talking about entire race versus -- >> racist and criminals? adam: ron, getting last word. i don't want -- >> all i have to say is i think really reveals what a buff fon donald trump is. he is not serious and carrey is right. he is not a good politician or businessman. he needs to go. adam: i saw democratic strategist, former advisor to dick cheney and political consultant nodding their heads. let's thank you, jessica, ron, carrie, thank you. former texas governor and republican presidential hopeful rick perry will join us. he is currently polling at the

lower end of the gop contenders. get your program, you can't tell the gop continueders without a program. we'll ask his strategy to drum up more support. liz? liz: adam, starting today you can not only say you visited inside of the white house, you can prove it. the 40-year ban, yes there has been a ban, against taking photos during tours has now been lifted. in fact, the white house even encouraging folks to post pictures on social media, using #white house tour. cheryl casone joins us. first lady is getting in on the action. she posted a vido on instagram about it. there is one no. >> basically ripping up the sign about no video, no tour stuff. 40-year-old ban on photos, while doing the tour, it has been lifted like you said. tourists can take photos. encouraged to post pictures to social media. they want you to do that with the #white house tour. you are not allowed to bring a

sell if i stick. that is prohibited taking any videos. get this, my favorite thing, michelle obama doesn't want anybody live streaming on perry scope the tour. she specifically said that. very up-to-date. i have never done the tour, liz, have you. liz: i have actually. it is fascinating so cool. self if i sticks i have been folked by them. i'm very glad people can capture that being on the inside. >> definitely do the tour next trip. liz: cheryl, thank you. we'll talk to cheryl at top of the hour. she is in for deirdre on "risk & reward." she will continue coverage on greece and the rest of today's big stories. there are a lot of them, adam. adam: ready, set, hike. fast-food workers get a raise with that but is a pink slip not far behind. plus how to raise the minimum wage without really trying. new overtime rules are raising the alarm for business owners.

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liz: getting ready to drive to the beach or hang you out and go to grandma's, just this time for the july 4th weekend six states hiking. drivers in idaho, georgia, maryland, rhode island, nebraska, and vermont will be charged more at the pump. increases are part of an effort to replace federal transportation funding that had been recently cut. adam: hikes across the country, minimum wage increases going into effect for chicago, washington, d.c. and maryland. here to discuss it, jamie richardson vice president at white castle. jessica tar love and ron christie. start with you, jamie. there has been a big push to

raise the minimum wage. is this something that white castle would be able to behind on behalf of its employees? and what is the impact on business? >> you know what we're seeing around the country we're calling rise of city states because the big raises are happening in cities around countries. chicago going up to $13. whole state of new york has a three person panel raising to $15 wage just for fast-food. that rob us opportunity to provide jobs to more people which we've been doing as family-owned business at white castle since 1921. adam: jessica, raises in new york will not be the same. you enjoy white castle. cost of living is different. why not one size fits all? >> we need a baseline. we lost all the jobs in the recession that were medium waged jobs and replaced them with low-wage jobs. we're asking people to support families on incomes supposed to be for teenagers in early 20s

while getting training working their way towards something bigger. adam: isn't it true, ron, vast majority of the people in the country don't get minimum wage? >> right. adam: those getting minimum wage, coming from the heritage foundation, average family income, people getting minimum wage part after family unit is $65,900 a year? i don't mean a say single personning children on minimum wage is making it but it is small number of people, isn't it? >> those are people 16 to early 20s. i agree with you, it should be a baseline, but people determined in the capitalist system. if white castle wants to raise minimum wage for employees they should do it. if mcdonald's wants to do it, she should do it. shouldn't be across the board. adam: the ceo said raising minimum wage you will lose 500,000 jobs. >> 600 economists, including seven nobel laureates, said if

we raised it to 10:10 in the economy. build more loyalty in the company and people have better quality of life. adam: same economists told us real estate can never fall in value? jamie, let me give you the last word on this because you lived this. you have thousands of employees through white castle are dependent on the company surviving to keep them employed. how do you balance out need for wages to keep them healthy but also this rush nationwide to raise the wages? >> our focus is doing best thing for our people for the long haul. we offer health care benefit. offer really good retirement benefit. we offer holiday bonus. a lot of other things. for us is really difficult when it comes down by fiat when market is taking care of it already. for our families proud to be there. one in four been with us 10 years or more. adam: appreciate you being here. love little onions on white castle burgers. jamie, jessica, ron, thank you.

don't miss fox business's special coverage of the critical jobs report. coming out tomorrow morning. maria bartiromo will break down numbers for all of plus what it means for the economy and your money. her show begins 8:00 a.m. eastern. actually begins 6:00 a.m. eastern. liz: ticks tock, the clock is running out on greece.

adam: cheryl casone with "risk & reward." cheryl? cheryl: welcome to "risk & reward." i'm cheryl casone in for deirdre bolton tonight. this hour president obama announces the opening of a u.s. embassy in cuba saying it will quote, begin a new chapter with our neighbors in the americas. we'll find out how this new relationship could affect our economy. greek prime minister alexis tsipras is telling creditors he is ready to accept most of their conditions to settle the nation's debt but is the deal still on the table? we'll bring you latest breaking news from athens. plus the justice department is investigating whether airlines are conspiring to keep