ashley: i do remember that. it used to get dark at 11:00 at night. stuart: you don't remember the second world war? you don't. >> no, but i remember the two hour difference. stuart: we're done. neil cavuto. it's yours. neil: i know you have been making a big deal of this since the war of 1812. it would figure you're not letting go right now. thank you very much, guys. we're following up on that, by the way. a big deal florida, so foes the rest of other 49 states. we're keeping track of this facebook situation. this is a little bit bigger than facebook. the ftc wants to get to the bottom of this, how it is that facebook is dealing with this problem. the stock continues to swoon a little bit here. in case you're counting it has lost $80 billion in market value. the in case you're worried about mr. zuckerberg who founded the

company? it started out as dating service and it has a lot of negative news. he has lost $13 billion or so in market value a. i think he is worth in the vicinity of $64 billion. rounds what my buddy charlie gasparino is worth. he joins mark murphy and gop fund-raiser, noelle nikpour. we were talking about this earlier in the break, the reason it went well beyond -- be careful what you wish for, competitors the same washington magnifying glass might look at you. that has been worked out but what do you make of it? >> google is down this morning as well. neil: down a little bit. the point was, a, washington will have feeding -- >> fallout, the stocks are using dealing with something about the sec. not the fec. >> ftc.

>> right. there are a lot of cs, a lot of initials. there could be more to come which is interesting and we talk about earlier too, you know with the rythym of the market you will notice, the marketplace may be learning how to trump negotiates now. when you think about it. he comes out with drama. i am going to kill you. it negotiates down i will just break your arm. i think markets are now learning when he comes out with something, just like trade war, china, you know, now, look, they're actually negotiating, you know? neil: you think there is a method to his madness, not just madness. >> i really do. neil: mike? >> when you look at it from a, inket perspective, facebook, amazon, google, apple, any selloff has been a buying opportunity. i look at facebook the exact same way, i look at that company -- we run into venture capital fund. we look at companies across the country, they all use facebook

for advertising. facebook is the platform they are going to. that will not change over what has gone on in the last couple weeks. neil: you could say first day, second day, but this is continuing. >> look at companies like elon musk sending a message they are no longer on facebook. >> he needs facebook though. >> he needs it. he removed it. there is a lot of history. neil: this is overkill in your eyes? >> i think total overkill. >> dynamic is interesting. naturally you think republicans on the hill want to start hearings and stick it to facebook all the silicon valley firms, guess what, they are liberals, they give a lot of contributions to democrats rather than republicans. i found just the opposite. i was talking to my hill sources, are you guys holding hearings? he goes no. i said this, isn't this another part of the deep state what facebook does? no, no. we look at deep state, something

compulsory, fbi, cia as they look into americans lives. facebook is an open platform. you don't have to be part of facebook. long story short, it doesn't look like the republicans will start hearings. this will have to come from the democrats. if the democrats -- and -- neil: confirmation that the senate intelligence committee, minority members are going to explore this. others are doing it. house committee is doing same thing. >> if democrats get control of congress facebook could be in for a lot of trouble. >> somebody that works inside campaigns and raises money, one of the things we look at is social media advertising. this wasn't around a long time ago. but we actually, we raise money and we will have ad buys, things we do on facebook -- >> why is that illegal? >> it is not illegal. they're still -- >> what cambridge analytica did so illegal? >> they didn't return, they dumped the data. and they didn't. neil: i don't want to get caught

in weeds on this, then it gets be to political. it is clear wall street is worried it might go beyond facebook. mike, you're not. normally when washington sits around like it did after the housing bill and bank bill, with all good intentions they start piling on industries, set a lot of rules and regulations in place that might have been warranted in some cases but invariably are overkill. do you look at this potential overkill what is laissez-faire, old west, cowboy sector that has not had the government on its back but might start getting it. >> it is something you have to look at if the government gets involved and overtaxes or over regulates like the banks it is major negative for shareholders. neil: would it -- >> it would take a change in political parties. >> it would hurt other stocks associated with it. >> the democrats rammed through dodd-frank, everything else, when you had the presidency,

senate and house. they had a perfect storm in 2009 to do all that stuff. this is a little different. the one thing i will say, if the house turns democrat, i mean those are, that is the place where you could see hearings, investigative hearings in every committee. that is where facebook and all these companies could be in for a wild ride. neil: let's switch gears a little bit, guys. the president has been saying he wants to target china. we're getting indications when it comes to threatening tariffs. he is getting desired result. they seem to be blinking on a couple things here. that surprised a lot of folks. that he might be able to have them make concessions or give something back to avoid the implementation of these tariffs i think in 43 days. >> this is his style, you guys. how a long time ago when he used to negotiate with real estate he would walk into, we were talking about this in the green room, he would walk into a boardroom, say something explosive and just turn around and leave, leaving

everybody else to pick up the piece. >> why no banks dealt with him. >> then he would come back and negotiate. >> let's be real clear, donald trump the financeer, banker -- let me make this clear. >> they have to deal with him now. >> there is a reason why no u.s. bank ever dealt with him because they felt they were screwed over and they felt he was a lousy businessman. now i'm just going to tell you, all those casinos went bully up as you know. all i can tell you is this, when you play around with trade, listen, maybe he backed off? if it looks like mnuchin out there over the weekend, treasury secretary, basically saying it is not such a big thing. looks like the trump administration backed off a lot of this tariff stuff. neil: treasury secretary steve mnuchin now on the wires he is hopeful the u.s. can make a deal with china to avoid any of these tariffs taking effect. similarly the chinese responded we too are hopeful we can reach an accord that can be on each

side's -- >> sounds like a deal to be had. speaking to the market -- spooked the market a few weeks ago. if the president is trying to get fair trade i'm all for it. not that we should have more than them, i said this a few weeks ago i talked steel, if he is looking to a fair, balanced playing field, i'm for it. i don't see what the issue is. neil: presidents of both parties tried this. one thing where the president is right, the chinese and others screwed us for decades. >> particularly the chinese. neil: our response is we would try to work within that system. the argument being in the case of the chinese, you know we need them, because they hold our debt, et cetera. this president says they need us a lot more than we need them. do you subscribe to that view? >> absolutely. especially with the intellectual property. intellectual property, this is real bad, democrats, everybody agreed this was bad. i think what is happening right now, i think this is really

good. i think in negotiation style while it didn't work with the u.s. banks it is working it is working now because no other president, to my knowledge has gotten them to the come to the table, start the negotiation. neil: where are they coming to the table? he wants to pare 375, 400 billion-dollar trade gap to 100 billion. they're talking about, buying to your point, more semiconductors, more computer chips, that sort of thing. will that be enough to salve a lot of bad feelings? >> i think it will be. like any negotiation you have to have two parties willing to negotiate and take and find a level playing field. the fact this is happening this way for so long, i don't think it means it is okay. the president is looking at it, a lot of other trade deals, not just china specific. hey, i want to renegotiate these deals. if that is in the best interest of the american people, i'm all for it. neil: let me flip around. there is another development, lies in the face of cozy talks

with xi xinping when he first came back to the white house so he can get tough on them and he is. same thing with the russians. they thought he was in their hip pocket. he wouldn't get tough with them. now comes the news he is calling back 60 diplomats. is there a sign he can surprise you or is this something that was so egregious that he had to act? >> i think it is so egregious. the other sanctions people were talking about, he was late to imposing them, you know, chris wallace brought that up when he was interviewing sean spicer recently. i think what vladmir putin did was so bad, if we have good intelligence that he killed, planned a murder of somebody and you don't expel -- by the way, people that are, you know, allies of ours, if you don't expel, that is the minimum. he also, as you remember called up putin and congratulated him.

i mean it is -- he does boggle the, boggle the mind how he deals with -- neil: congratulated him on phone call with re-election. a lot of people pounced on that. barack obama did same thing. >> didn't winston churchill call stalin on his birthday? neil: i'm curious, mike, what this says, it is always unpredictable, i know people have strong views on the subject whether the president should have done any of this, but fur of the opinion he is bouncing to the russian tune and afraid to take him on, he did in a very clear way. now, against much global pressure he should have done this. he might have telegraphed to putin himself. i can't avoid it, will it dispel people of notion he can't be tough to the very people he is cozy too? >> i don't see how that notion

exists, neil if you look at facts. he is willing to stand up to friend and canada, mexico, and america's interests to china, north korea and -- neil: for a while he was much tougher on our canadian friends. >> in the media. we don't know what is going on behind closed doors but it seems -- neil: do you think there is a message to this? that this is not happening by circumstance? >> for instance look at north korea, i think for a fact something happened to bring them to the table. what it is i don't think we'll ever know. neil: steve bannon, said the overture with, tariff stuff has as much to do with finding solution to north korea. >> maybe. neil: too clever by half. >> who knows, sometimes there is more than just one reason why something happens. neil: right. >> listen, here's the thing, i do worry -- neil: markets like it. bottom line the markets like it. that is the prism washington is

right now. if the markets was concerned this was phony, for the time-being they are not. now they are not. >> putin likes to drive a wedge. he has done that. now we're aligned with the eu and britain. we are now all as gathered force against russia which is good. >> that could change tomorrow. neil: you never give him the benefit of the doubt. >> trump is blunt force object, okay? neil: right. the same has been said of you, young man. >> when i break news, very straight. neil: when you break news we fix it. >> but trump is a blunt force -- i think just the notion of him holding sensitive trade talks is something the markets don't yet buy, okay? neil: market, to be very fair, there might be unexpected positive to come of this and first president to take on the chinese and get them to blink. if that happens, then he is suddenly a genius here. >> if you can switch the focus, talking about the markets, back to the u.s. economy and how

businesses across the country feel, that this pullback that you're seeing of 11% off our highs is a screaming buying opportunity. >> yeah. neil: interesting. we didn't once mention stormily daniels. >> thank god. >> did you watch it? neil: no. >> big letdown. >> nothing burger. neil: we'll not milk that story. stop it. get your mind out of the gutter, america. dow down about 400 points. we'll have more after this.

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>> how quickly things change. reports are veterans affairs secretary, david shulkin, only cabinet member approved by 100-0, 100-0, is in this case, big to do because this guy was a rock star. now he is about to be thrown on those rocks. to axios reporter caitlyn owens, what could be the latest shake-up. boy, oh, boy, -- caitlyn what ae you hearing? >> there has been a lot of shake-up lately. axios has reported shulkin is the most likely to be next. seems what we're hearing is that president trump is not happy with him. the white house is asking around

for names for his replacement and it seems like it is likely, although no final decision has been made shulkin is on his way out. neil: a lot has to do with the trip he took abroad. a lot of expenses were picked up by others, and, also a lot was charged to taxpayers but there are a couple of other cabinet members who, i don't know the dollar amounts, could just as easily be fingered on just this sort of stuff. why isn't target now? stay what you will of the guy, i know he is an obama holdover, he had a great deal of success at that agency? >> so there has been some reporting about policy disagreements with the administration. the administration also doesn't like some comments shulkin made to the media. there is a little more of the public and private behind the scenes media here. it goes beyond the scandals. neil: i was watching anthony scaramucci on other network. i watch them all so our viewers

don't have to, what one of the things i discovered that this is not chaos. this is kinetic energy, this is way a start-up acts, what you get with dream trump. what do you make of that? >> so look, trump, the president has been, he operates largely on intuition. he loves his gut. he can't follow his gut without, blowback from that. that is what he does. we're seeing here, there is all kind of reporting that he is feeling much more comfortable in his role. he feels like he does what he wants to with the team beside him. what we're seeing is a shake up, for example, bolton last week. he liked him personally. they vibe. not necessarily about their ideology and way they see the world and policy. trump just likes these people. he doesn't like people around him if it is not working. like i said he wants to go with intuition. there is a lot of gut here.

neil: the gut to get cabinet, foreign policy team in your face, more spartan, some say more warmongering. i don't think that is fair. that is the way it is being viewed. that is the kind of in your face cabinet or staffing that he wants. do you agree with that? >> i think so. but again i think that, trump, so, you know, you look at the iran deal. still in place. he wants it gone. look at some of these issues he is more malleable than others. the iran deal is the best example. he wants people in place that will share his view on it. and bolton appears more in the line of trump's thinking. neil: you mentioned the north korea situation. steve bannon was at this big pow-wow in the city, i think it was last week. he espoused the view that, chinese tariffs were really much more about getting china to help

with the north koreans situation, even finding suitable venue for where two leaders, north korean leader and our president meet. not so much about the economic concern of the trade deficit. it sounded a little fanciful to me. what do you make of that? >> i mean, maybe. you never know with those things. i think what we know with the -- listen trump has been talking about the trade deficit with china, basically his entire life as a politician, from the campaign trail on. so i think to say that is strategic move to kind of orchestrate something with north korea. i think that sounds, maybe there is something there, but i think the bottom line with the tariffs this is fundamentally what the president briefs about trade. neil: real quickly another idea i have heard pushed around this idea that the president will get rid of john kelly, not so much to be a personal friend of john kelly is apparently greating on his nerves depending what report

you read but not to have chief of staff at all? >> that report is floating publicly by corey lewandoski on the news. but again, our reporting i don't think that has been decided t could very well possibly be true. but i think it is one of those things where we've got to wait to see what happens here. kelly is still in place. he is not out yet. and so, you know, i think that while it is possible we don't have the concrete answer there. neil: i would almost imagine, you follow this closer than i do, if he were to get rid of kelly a general's general, mattis would leave the defense department. i think he would go. i think that might hold this president back. neil: >> you know it is interesting. kelly and mattis in place and mcmaster and tillerson are gone, got floated around as far as generals. people in his head about foreign policy we're seeing a lot of shake-up there. i think it will be interesting to see what happens with those still in place. neil: thank you. always good catching up with you.

caitlyn owens, axios. they break more news and stories, it is incredible. she is among them. let's look at the dow right now. we have it up about 400 points here. technology for a while was coming well off its highs with the facebook news that the ftc is sniffing around and that the minority ranking member of the senate intelligence committee also wants to talk to mark zuckerberg. he is taking out full-page ads in major newspapers across the united states essentially on apology tour but that is not enough. the stock continues to swoon. his paper wealth continues to ebb a little bit but the concern seems to be beyond facebook and if this builds up and washington wants to interfere, it will interfere a lot with the same guys salivating that problems zuckerberg is having. be careful what you wish for. it could happe' to you. after this.

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♪ neil: quick and to the point. i like that. facebook under fire. continues to be under fire. continues to selloff on word that uncle sam is sniffing around, the ftc more to the point. a look at company's practices here. that is always a problem. once you got the government involved. you have the senate intelligence committee looking how you do business and how they want to chat, i seen this happen with oil companies, banking concerns, the mortgage industry, whether justified or not, you as an industry have problems and certainly facebook as a company has problems. what are we looking at? deirdre bolton. >> neil, all those points are one of the reasons why we have seen the stock under so much pressure. i want to signal it is off the lows of the day but still past five days, down more than 10%. neil, exactly as you said. there are now people in government, even people in silicon valley who are beginning to ask the question, does facebook and other big tech need

to be regulated, especially where our data is involved and then in the cases of for facebook, have actually influenced, arguably, politics, our national politics? so some pretty big questions coming, neil. that is really never a good sign for companies that want to act independently. so the ftc, the government agency respondable for protecting our privacy confirmed it is investigating facebook. we knew it would happen but now it is here. last week several news agencies reported that cambridge analytica illicitly obtained data on up to 50 million facebook users. used that data to influence voters in our election, presidential election here and uk "brexit" vote which is why the uk pm, theresa may looking into the company as well. there are other news reports, perhaps this is more damaging, facebook had every single in-house tool to be aware of the

cambridge analytica data used and facebook didn't follow up and protect its users. that is a huge question mark over that as well. presumably the ftc will be looking into that. either confirm that statement or disprove it. but if the ftc finds that facebook didn't protect its users, it knew what was happening happening with cambridge analyst car, facebook at the very least will have to pay millions of dollars in fines. just as a as a context wahl reminder. this happened in 2011, they questioned facebook on user privacy protocols. facebook said, okay, okay, we'll agree to some user privacy guidelines. that is the second issue ftc will look at with facebook. they will say, did you or did you not act in accordance what we set out in 2011? the ones that you signed on to be committed to?

again millions of dollars in fines potentially there. then of course as we've been covering, there are two class action lawsuits already gaining steam. so one from investors, one from shareholders and at least 3 states attorneys general have sent a bipart -- bipartisan letter to ceo mark zuckerberg. whether you're inciting government willingly or unwittingly perhaps in the facebook's case into the way you do business it is never really a great sign, is it, neil? neil: it can always be overkill. good intentions can sometimes get magnified here. deirdre, thank you very much. >> sure. neil: that is one thing that worries jonathan hoenig, that the long arm of the law, the government could really affect an entire industry here. jonathan, what do you think of what is talked about? >> it is happening, neil. i'm just getting an alert that cook county will be suing

facebook and cambridge analytics. this is a major danger for the stock and i can tell you mark zuckerberg invited this. he asked for regulation, pondered publicly whether they perhaps should be regulated a couple days ago. neil: that's true. >> neil, as deirdre bolton talked about 2011, essentially facebook sanctioned the idea that government should have some role managing the content on their website. when you think about the success, neil, success of facebook, neil, how it succeeded with no government regulation as some of these tech companies have, look at microsoft. as soon as they were sued, as soon as government got involved in business in 2000 it, was 18 years until the stock recovered. you can see the same thing. the more government wants to protect us from a service billions of us use voluntarily on a weekly basis, there is certainly something what you say we got the confirmation of the ftc was looking into this, the

dow was up north of 550 points. halved these gains and lot of technology stocks running up fast and furious were not up so much. now that has reversed slightly but do you think now that there is going to be a general industry-wide targeting going on here, i guess it really depends who is in power on capitol hill. investigations are one thing. slapping new regulations on an entire industry like facebook is another. it depends on midterms, doesn't it? >> it depends who is in power neil and who in the tech industry response. mark zuckerberg, people run the social media platforms, they have to be leaders. mark zuckerberg built facebook. he can't build something that screens out or mandatory disclosure? he should set the standard, neil what he -- neil: he didn't, john. you're quite right, be careful what you wish for when the government intervenes and he

almost wished for it. he botched the response. i call it eq response, unemotional, yeah we regret it and all, no heart or passion this was something that was stupid? >> and now he is going to get that regulation, neil. and the regulators, that is the congresspeople will get another show trial. we have a real major issues facing this country but no, we have to bring mark zuckerberg, neil, think about every day of his. he could be out dreaming up new companies, dreaming up new innovations, he will spend a day just like bankers and pharmaceutical guys, just like all the other industries over the year, toyota had to come in to bow to these regulators. why mark zuckerberg would have purposely done that. neil, the stock went down, keeps going down. the more government gets involved ins fixing facebook, fixing us this stoke will be dead money until they are out of the way. neil: this has fallen way too far. of course is up appreciably from

when it was in the teens. let's put things into perspective but you seem to be avoiding this like the plague, wouldn't touch this stock? >> yeah. i think that is the danger here, neil, for the broad economy and the broad market i think, the leadership has been in those "fang" stocks, the tremendously forward-looking productive companies that have come up with the tools that literally few of us can live our lives without now. look at the tool the government has come up with over the years. amtrak and the u.s. post office. you really want them telling facebook how to manage their business? you know, neil there, is tremendous competition. it was once, myspace and twitter, facebook. this is an area that is not lacking for competition. what government's proper role is to get out. if people want to abandon facebook, if they want to sue the company, let them do it as individuals. this is pathway for them to start regulating speech, neil. so we'll have equal time laws

about different campaigns or, you know, fairness doctrine for online. this is the type of regulation, all of which occurred in the over the broadcast realm we'll be getting in the internet, which should be free. neil: i'll put you down as a maybe on government interference. jonathan,. >> put me down as a no! neil: got you, very, very much. there are another, a lot of views what is going on right now with these potential tariffs the administration wants to slap on the chinese particularly, steele, aluminum-related products. they lead to a productive end. you have to keep in mind the government isn't the one paying these higher prices. you are. and if you think about it, that could offset whatever gains you're getting from tax cuts, right? why is no one talking about that? we are. ♪ whoooo.

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neil: all right. what is the difference now? stock market way, way up. we're still talking about china versus last week we were way, way down, still talking tough with china. now signs that the chinese are either blinking or looking to make a deal to avoid tariffs going into effect. former reagan economic advisor art laffer. you know, art, i was thinking you ahead of your visit here. it was ronald reagan who acted against the japanese when they were dumping computer chips on our market. a lot of people said that is not the fry market way to react. ronald reagan's response was they're not practicing a free market. that is essentially what this president is arguing. do you think it wins out? >> no, i don't. i think reagan regrets that he did that it is true japan is not practicing free markets, that is very true, them not practicing free markets doesn't mean we shouldn't practice is it, neil. it is lose-lose -- neil: but if we're at

disadvantage, the president's argument, if they are not playing far like going up against a country with a one arm paper hanger. >> you don't damage yourself to get even. imagine discovering cure for colon cancer, neil, and japan discover ad cure for alzheimer's. imagine japan true to form prohibits us not marketing colon cancer in japan, should we notprohibit them from alzheimer's cure in u.s.? neil: don't go too far with this sort of thing, you regret what you wish for, the market seems to be interpreting from this he will get the desired effect and the chinese are going to blink. are they getting ahead of themselves? >> if they do blink we have won and the world is better off. we have new trade deal with japan. with tpp, the japan is the most protectionist nation around. they have these non-tariff barriers they removed from any

negotiation. currency manipulation what japan has done with all the people were there, that removed from the negotiations. a free trade deal would be far better than we have, but playing russian roulette with trade tariffs is very dangerous game. obviously xi is not facing a midterm election. trump is. it will be very expensive for americans. neil: you're talking about xi xinping, the leader for life now in china. when we offset the tax cuts, talking with kevin and brady of the house ways and means committee he seemed to intimate such, he is supports what the president is trying to, he worries that this offsets the gains most are feeling with tax cuts, as you know better than many, we pay these tariffs, it is not government. >> that is very true and i think the president is correct in wanting to get negotiations. i don't think he is protectist,

i think he is free trader this is very -- trade wars are never won. one party loses more than the other but they're never won by anyone, neil. freer trade makes everyone better off. right now i'm very concerned about tariffs and quotas. i trust trump. i think he will do a good deal getting it with nafta. i think he will do a better deal with it. pp and probably get a good deal with china. but end don't think i don't think for a moment it would move into a trade war and it would be worse for everything. neil: tpp, referring to the trans-pacific partnership, a trade deal among all the asian nations and presumably ourselves to try to exact more fair trade. the president argues there is nothing fair bit. >> thank you. neil: toys "r" us, it is going the way of the dodo bird, right, or is it? there's a guy who is trying to revive it and he just might be able to pull it off, after this.

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neil: all right. i don't know how long this whole trial lasts but time warner, at&t, that hearing continues. connell mcshane outside of the courthouse in washington. how long is this going to drag

on? >> i think about five 1/2 years. it is supposed to be like two months, something like that. they're saying six to eight weeks. so it is your true marathon, not a sprint. we found out that the hard way this morning. we're expecting as we enter week number two to hear from what witnesses. we're still waiting to hear from them. we're still waiting for the group president of sling tv and dish network. john martin, chairman hand ceo of turner, could be important witnesses for the government. what happened was, richard leon, the district court judge, came into the courtroom after 10:30, said for the department of justice to call their first witness. instead of doing that greg conrad, for the doj said he wanted to approach the bench. from that point on, conrad and leon and daniel petrocelli spent two hours talking and talking more going over ground rules for various witnesses. the judge came back and said to

all of us in the courtroom we will have to take a long lunch. he would resume the trial at about 2:30. he said some issues came up, neil. he will have to review a number of emails and make rulings one way or the other how we will proceed. we don't know exactly what that means. maybe we find that. government is arguing, started to argue last week it is unfair prices would go up if the two companies get together. the companies have been saying the government is fundamentally stuck in the past wits arguments. right now we're all fundamentally stuck waiting for them to come back this afternoon. neil. we'll keep you updated. neil: thank you very much, my friend. meantime the mission to save toys "r" us from the corporate gave yard. to his plan to save the company. very good having. >> you thank you, neil. neil: you haven't given up on this company. but a lot of folks are saying, look, it is time has come and

gone. competition is what it is and was what it was. there is not a gamable plan for it. you say that is nonsense, right? >> yes, it is nonsense. i usually don't give up so easy. i like challenges. i think toys "r" us has a great business to be had. it is a great brand name. it is an american icon. and if there is no toys "r" us, the whole toy business as a whole i believe will suffer greatly. we have little tykes, the oldest manufacturer of toys in the usa right in the heartland of ohio, where we sell, make and sell 40% of the toys made in usa to toys "r" us. a lot of jobs will suffer there. i think if toys "r" us goes, over 130,000 jobs will be lost in the usa alone. not just toys "r" us, jobs, but all the services, logistics, shipping, a lot of small toy

vendors will go out of business. so i think there is, i think there is a business to be had and i will try to save it. neil: all right, but how do you do that? it is in your vested interests and you're pretty savvy finding opportunities in this industry, but how do you get some of your colleagues to share the same enthusiasm? some of them crunched the numbers, but they don't have the wherewithal to do what you're considering? >> i have, i think, i have a business plan which i'm not going to disclose on the air right now, to turn this company around but frankly i am a little disappointed why other companies chief executives in the toy industry, have not come to the table to support this, because, you know, we are all made a lot of money from toys "r" us. i sold my first toy to charles lazarus in 1979. neil: is that right? >> yeah. i believe i am indebted to that

legacy and i, as long as the business makes sense at the right price, i'm going to do the desdamn thing i can to save it. neil: i don't want to get into the details of your plan. you're obviously hatching that as a hail mary pass to save this company and maybe others that do business with this company, but maybe the reality is the business model doesn't make sense? a structure, serious of structures, who can buytores, there are others who offer the same. you buy stuff ott line and can buy stuff and target and buy stuff at walmart, the business model and cost structure, is such, even after all these toy closings it still couldn't cut it. how are you going to cut isn't. >> yeah, i think what happened with toys "r" us had nothing to do with online sales or other retailers. i think the debt that was put on this company killed it because it was profitable company before.

neil: but it went into bankruptcy, renegotiated that debt, failed to do so but even that factor was taken out, right? >> it was, i think there were definite missteps but there is a room for a free-standing toy retailers out there. when you look at, for example, entertainer in the uk, they just announced 37% increase in profit and sales and they are just brick-and-mortar type of stores. or smith who is in the uk and ireland. very successful. neil: yeah. >> so there is definitely -- you know, look at toys "r" us canada, which we made a bid for, is a self-standing, very profitable business. neil: so that wouldn't be part of the closure, that the toys "r" us canada would remain? >> toys "r" us canada is separate company than toys "r" us usa, publicly we

made an offer to buy toys "r" us canada, but right now my goal is also to go after toys "r" us usa i don't think we'll be able to save all 738 stores but i think we can get 150 to 400 stores. fix them and grow from there. neil: wow. you broke a lot of news here, young man. thank you very much. isaac larian, mga entertainment ceo. he is not quitting on toys "r" us. convinced he can make a go of it even when the company officially said, no, we can not. we're shutting the whole thing down. here is a guy saying, not so fast. i don't think he is toying around. dow up 375 points.

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we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. take a look at what's going on. 375-point stronger in the dow. keep in mind that has fallen about 3000 points from the hive. this represents about 10000% of the falloff. nevertheless, the same fear that was gripping the market on a trade war that seemed inevitable and was going to take on a lot of stocks and sectors is anything but today. what's more real, what's happening today versus what's been happening going into today, anyone's guess. we do know the markets. [inaudible] the president isn't afraid of a trade war.

he thanks the chinese will make some concessions. there was talk that they are looking at maybe buying more semiconductors and that sort of thing. they're trying to satisfy the administration's goal of easing that deficit from 375 billion to maybe. you don't want to get into the weeds here. i barely know those weeds but i can tell you, hope is the chinese are going to do what's right in the administration's eyes and try to deal with this. if the president has succeeded in getting the chinese to make a concession what would that be and what would the markets responsibly. >> the markets would improve because we are worried about trade wars starting.

that's really what they're scared about where they get angry and add tariffs on to our stuff and it goes back and forth and there's no business between the two countries but that's like the worst case scenario that no one wants. if china caves and give them, and it's looking like they might, in some ways trump is the best president to have a trade war with because the other side is playing chicken and they need us in some ways more than we need them. i don't want to counter what arthur said. you could win it if they buckle quickly. it's not like they are a good player here but to her point, if that worked, japan would be the country we would be talking about.

these policies ultimately ruin their economy. it's a question of whether we have to do anything, anyway. >> the idea of a 45 day cooling off. but for the tariffs take affect is that cooler heads prevail, maybe, heads prevail. do you think that happens? >> i do believe it's going to happen. it's always a question with president trump being at minimum and erratic player at the negotiating player, is he being as liza fox or is he old dozing straight ahead. this time we might see there is a little bit of slyness coming out. we don't have to win anything. all we have to do is say, with china, that we are going to get some things going on with intellectual property and unfair trade practices but if that happens the market will respond very positively because it's really dialing in on this trade war. >> others have long said it is

a rigged system and if you ever want to see cars in china or europe you face 20% taxes on the same goods i get a pass when they are the domestic distributors or when their goods come here. there is something with what the president is saying, is it going to be the new new reality that we are going to play tough on these issues and it might signal potential trade wars in the future. >> most presidents in other elected leaders don't want to deal with it because they don't want to deal with a trade war.

you can't get reelected when that happens. they don't have to get elected in china, we do and it's very strong for president of any country to take on this country which doesn't have elections. a lot of people agree this has been going on for a long time but i'm not pro- trade war, if they want to give us the stuff cheaply at different prices, that's wonderful. this could backfire very greatl greatly. we've always been a little weak in this area and that's why we've gotten away with this for some time. >> it could be a very big victory for the president. >> it could be a huge victory. >> i think it is spot on because to deal with the bully

of china and everyone believed china had been a trade bully . trying to get china to the table as equals is not going to do what we want anyway. i think it could be a big positive for the midterm election if this comes out with meaningful concessions with china. >> thank you for both very much. sometimes you to be aware of poles that might not reflect the realities. those who might benefit from most tax cuts, there might be some way of saying that these latest numbers show how people are likely to vote but not by

double digit gaps that existed before. oddly enough they have stayed. [inaudible] makes me weary. it's very good to see you. you raise a good point but this is something people are seeing. how real is that? >> it is real and, if i may, on this trade war, the reality is no one knows anything. no one knows where it's coming. everyone is that a best guess so it's a little like you might appear shooting a bird with a nuclear missile on the trade war thing. we are overreacting. overreacting we don't shoot the missile and we got what we want anyway. i'm not sure donald trump knows where he's going. >> he has the right to say

it's a rigged system. it's really not. >> he is the one guy that's taking on these things. china has been an unfair trading partner. i'm in the energy business. >> energy and food. >> yes, we fry our french fries in oil. on the energy side of it, in all seriousness, we know our equipment, our piping, our drilling will be raising prices and suppliers and we know of the still picks up they will be using more energy. >> the tariffs when directly affect you. se, maybe if you buy a a lot of metal, or aluminum or steel. >> or even in a restaurant. certainly the equipment side a

bit. the reality is, i don't think it comes up, the 45 day cooling. is a good back off from what was very pugnacious and now there's discussions behind-the-scenes, i bet it doesn't happen. >> and it might not. >> in your industry, people, when they go there, that's an impulse type of thing. >> yes it is. >> especially if you're concerned about your finances. you're telling me since the tax cut, people are more predisposed to live a little. >> absolutely. is not just live a little but it's what you're ordering. baby back ribs are much more expensive than hamburger and are you ordering an appetizer, an entrée and a dessert. tickets have gone up. we are stored sort of a mini laboratory with about 3000 people from all walks of life

and yes, it's working. >> our workers in our guests. >> what are they telling you? >> the minorities, the brown, black, all the different colors, 80% of every company are minorities. they are cheering the president of the united states. if you would've said that before these elections, you would like me up. >> see you think this is very real. would they be the same ones to give republicans a shot at the midterm? >> it's like the tariffs, i don't think anybody knows anything. one thing donald trump has done as he is creating a lot of uncertainty in the country which may be at this time is good, but we are all a bit

uncertain. you're very successful what you do but there's been that people in the white house, but we are seeing a lot of this. does that offset the games to your parent games that you're seeing when it looks like confusion going on. >> it's all part of the macro trade wars, confusion, it's all in that confusion. i don't think this confusion is intentional. i think donald trump is a pretty tough guy. >> i likened it to a startup. the kinetic energy is there. >> not at all. certainly not a startup. there's a lot of history in the office, a lot of history in washington, college swamp, called bureaucrats, it's anything but a startup. it's having difficulty interfacing with the leadership. >> to think any of that good news to make it out there and

talk to people like stormy daniels and all this other stuff that the stuff gets pushed aside. i'm sure you saw the data that 60 minutes was the highest watched program in the history of 60 minutes. [inaudible] [inaudible] after you switch the channel, it's over, it was like watching a good movie. >> very good my friend. thank you. he stayed thin in the food business. that's impossible.

we are getting word right now that the u.s. judiciary committee has also invited twitter to testify on top of facebook. when it rains it pours and the investigations ensue. politicians are just getting their little tops on and it's going to be a finance up. added to that, twitter and alphabet ceo to testify on what's private and what's not and follow up on facebook. we are keeping track of mark zuckerberg. he is down about $14 billion from his high. much like saying, he is still worth in excess of $60 billion. i could buy a lot of risk. , and burgers

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to say that it's been a bumpy ride when it comes to personnel at the white house would be an understatement. it's not over. it's a must like a revolving door. pretty don't think they formally have a revolving door. they might want to start with one. adam is at the white house with the very latest. >> nothing official, but the target you might say is pointed at veteran secretary

david shulkin who is speaking today in delaware at an event but he canceled a planned press conference. a lot of people speculate what does that mean, he might be leaving, there is problems of using taxpayer money for travel expenses like other people within the cabinet and administration. in terms of him, the deputy prosecutor at the white house was asked about whether he was on his way out, here's how he responded. >> the bottom line is we all serve the pleasure of the president and if he's not pleased you will know it. he does have confidence in him. he's done some great things. he wants to put the right people in the right place at the right time. >> the focus was other on other areas.

he was criticized for using taxpayer money overseas with a private tour of the vatican and ryan zinke interior who came under criticism for his use and ben carson with his wife spent $31000 on furniture but then they sent it back. the president doesn't refer to this as chaos. they refer to it as the incubator, it's actually constructive. there's kinetic energy going on. that's one way to describe what's going on. it does that people in on a tumultuous white house payback to be good or bad. what are you hearing? >> if this was a public company, you would see all these departures of resignation or firings, 24

high-level senior administration officials leaving, would you buy that stock? that's essentially what they think. as you mentioned, the president feels comfortable and operating his west wing and as we just heard, the person who seems to be in the target of president trump is the va secretary david shulkin. >> he will be targeted for getting this trip abroad, others have benefited, he picks and chooses or so would seem that he likes or dislikes. >> i think that's a good way of looking at.

it also has a lot to do with his personal relationship with the president. never tight with president trump are the same thing could be said for david and that's problematic for him as his own travel habits have come under scrutiny. makes it difficult for him at this time to hold onto his job. >> what to gather on the new form policy became a lot more in-your-face, much more inclined to take on and not suffer them gladly, and there's no globalist view now that, that's what worries a lot of folk. >> it may worry some folks on the left but we hear a lot of things that are very positive from conservatives in the house and the senate. they put out statements praising this decision by the president to replace hr mcmaster with john bolton. having said that, i don't think jumble would be handling

the situation with north korea any differently than hr mcmaster, but it always comes down with president trump to the comfort level that he has and john boldness someone he's known for years, someone in addition who he spoken to throughout his one plus years as president. he's very comfortable with him as his incoming national security advisors. thank you very much john. the president is also going to be doing other things besides personnel nominations and chain changes. he was going into the week touting infrastructure. >> he may be touting it, but i would say three months after announcing this plan the $1.5 trillion plan over ten years leveraging federal money to create that have business play a role into it. three months in, i'm talking to people in congress in various congressional

committees and a lot of people at private equity firms and businesses that would be part of the private sector response and they're saying this plan still does not have a lot of details and they really don't know how this public-private partnership, how the public sector will get together with the federal government, with states and an infusion of cash from the private sector would actually work. that mechanism has not been spelled out according to the people at these private equity firms. they will play a major role in this including people in congress. there in the committee talking about this and sang it still very much a black box on how this will work. i'm also told to expect some sort of guidance from the white house soon on something, at least some statement of principles or restatement of principles that it gives a

little more flash to a president trump mapped out in january when he announced the info structure plan, but again, if we, if you are thinking about this and getting done anytime soon, or at least starting anytime soon, the word i'm getting from my sources is that not so, there really isn't much of a plan on the table and the white house needs to provide that plan if they're going to get this going. by the way, this is much more cap located than just spend a few dollars and build a few roads. private sector has two want to be part of a deal to build the roads else you're not going to get the leveraging of the $200 billion at the government putting up. what type of roads will be built, how the government will play, the army corps of engineers will play a part on this as well and how they work with all this will be, from what i understand that the heavy left and were not even close to having concrete proposals written up. the word i'm getting from

these firms and from my congressional sources is that they are expecting some sort of guidance soon from the white house, maybe the president is timing that with his speech in ohio within the structure plan. the treasury department spokesman had no comment. back to. >> i see where you are going with those concrete proposals. >> why do you drag your people down? concrete shoes,. >> no, i'm not doing that. >> i can connect the dots with you. okay, all right. with to go on. in the meantime, the senate judiciary committee invited mark zuckerberg to testify. i don't know about you but when you get in wedding invitation, i don't thing in this particular case, when it says you're cordially invited to come to washington and let us know what's on your mind, i think it goes something like this, get your high knee down here now

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all right, first a national full-page ad and now the judiciary committee and invited mike zuckerberg to follow up and testify about how this data got out and how is compromise and what they will do to prevent it in the future. adam is here to talk about all of the above. they are circling the wagons on him and the fact that now some of it will include twitter and google, i don't know, this is taking on a bagel grouping. what you think. >> when zuckerberg was first asked to testify, he said if i'm the right person i will. that tells you a lot about him and his mindset and his inexperience. he has accomplished so much in

his short career but there's so much that he haven't done that he's still naïve and clueless about. he is getting in education quickly and he's a very smart guy. >> i thought maybe he should've done with the google guys did in bringing adult supervision. of course the question here is whether it's too late for that, whether this is calling into question. >> to think it's that bad? >> yes it's that bad. the long answer is it still about a half billion dollar market cap company that's tremendously successful. i think it could turn out very badly for them another whole business model is predicated on these practices that were hearing about. there will be a drip drip on that. we will hear about way more examples. the worst-case scenario is they collapsed down to something else is very lucrative. i'm not a fan at all.

i've almost completely stopped using facebook but i still think it's a good product that could be a good business but it could be very ugly between now and then. >> there was a move for a lot of people to delete their account and going by what mark zuckerberg was saying, very few have done so pretty and put a number to it so i don't know what's going on but a lot of people are tied into the facebook. it's how they can indicate with families because it's the only way they do so. i know snapchat and some of these others have tried to win them over and get them to come to the instagram or what have you, but it seems limited. what do you hear. >> i agree. first of all, it's not easy to delete your account. there's the matter of two i try to capture all those family photos and events in my life that i put up there, and you can do that but it's not as easy as pushing a button. it's not as easy as opting

into facebook to opt out of facebook. for people were made a part of their lives, it's your dramatic decision to decide whether or not to go. the easiest thing is just to do nothing. >> a lot of people have said the blame has been disproportionate on him one really this happens to retailers like target compromising data for millions of users, but he is getting it unfairly. what you think of that? >> i don't agree with that at all. target and these other retailers took your credit card information and sold you something and then criminals hacked them. that's a problem. they got victimized, fine, facebook took this data and build the business around that data. they gave away freely in some cases. in other cases people took advantage of them, but this is facebook's business. it was never targeted business

and that's why you're seeing him get the criticism he is getting. >> before i let you go, apple right now is concerned about the potential trade war referring to the tariffs that might be dumped on the chinese, that he hopes, heads prevail. will they? is it your sense that now given the fact that the markets are running up on the belief that the chinese will do something here, either by more semi conductors or computer chips from the u.s. to narrow that gap that there won't be any big trade war here? >> i'm an optimist but i'm hopeful. apple is a most a perfect test case. a trade war that affected apple, that made it harder for them to build iphones in china and harder to sell iphones in the united states, in other words the baby can two or three times more expensive because of the manufacturing, there would be a lot of spread around on that.

it's almost a perfect test case for how this will play out. i think will play out cautiously on all sides because of that. >> grow quickly, it's funny that people pomona presidents approach, but the chinese really do play unfairly. they do make it very difficult for american companies to make and roads and they have to sell their solo companies to do that. this goes back where others can say the same. the question is the way the president going about it, but what you think the fallout from all this will be. >> in my sort of middle-of-the-road cautious approach to these things, i would observe the first well, absolutely true that the chinese cheat and they push people around, it's been an unfair relationship. what they came from is a developing nation 20 years ago where they had no economic power. all they had was a very large population. now that has changed.

now the situation is far more equal. it's not completely equal but it's more equal. i object to the way the president uses all of the policy tools at his disposal as a blunt force object. but i think mature conversation is a better way to go about bilateral trade negotiations and maybe that's the direction things are going but now it's a conversation among equals and i think we can make more progress. we were willing to let them get away with the because we had all the economic leverage. >> now are not dealing with it. we won't take it anymore. we have to see if that's a good or bad thing. >> to some extent. >> i think mine is more accurate than yours. thank you. >> in the meantime, stocks are rallying on this idea that we could avoid a trade war. the dow is 400 points. keep in mind it had more than 3000 points.

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as you know by now, the austin bomber investigation is currently looking at his roommate. michael is with us right now. chairman thank you for joining us. what we know about the roommate. >> we know he's been detained, he's been questioned as a person of interest, i think the question is does he have

knowledge that his mate was making these bombs. if he had knowledge of this, he had a duty to report to law enforcement and if he had knowledge he would also be complacent with the conspiracy. >> i understand from some of the initial reports, when they got to the assailants home they did find a lot but it wasn't hidden. the roommate would see it and know about it. >> i'm not privy to his answers but reminiscent to the boston bomber, his wife

obviously saw that. they never charge the wife. did they talk about what he might've bought or anything like that. >> they are combing through all of the database they have. they have the computer cell phone that survived the explosion that killed the bomber. they have a lot of social media. so far there really focused on the roommate and what his knowledge was. they were originally sent to

minorities and african-americans and they thought these were racially motivated, at least in the beginning. that was less but to be the case. what are you hearing. >> i think initially the afton americans that were targeted, i talked to them on the phone, it's very sad what happened. initially, they were a crime. it's very hard to determine as the police chief, he doesn't make any reference to racial motivation and they're going through to see if it could've been charged for what they do see on the tape is very alarming.

he expressed no remorse and he was considering ending this whole nightmare by blowing himself up in the mcdonald's. that's how he ended this whole ordeal. >> in the meantime, the market is up and it was a big weekend at the box office. heard what an incredible ride.

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autos are not affordable. the average prices about $500 more than the price of the vehicle last year. to accommodate prices they are offering loans at seven and nine years. you can blame the cost of safety, those tariff prices haven't trickled through. new technology is to blame keep passengers safe. customers are also buying pickup trucks which are pricier than sedans. they predict higher prices will be more than the consumer can handle. new tariffs on steel and aluminum. talking to my edmunds folks

today, the average down payment gets worse with higher tariffs. >> thinking about whether they can afford things or not, the superhero movie one of the biggest grocers in hollywood history. let's go to fox news contributor kevin mccarthy. i think this is the first weekend in six that it was a number one. it still making money. >> at the first time they have done that. the film is still breaking records.

a lot of records are being broken for the film. it's the fifth highest grossing film in the history of cinema not counting for inflation. the movie is now the number one superhero film for the box office. the film is directed by 31-year-old director. i don't think anyone expected black panther to be as big as it is. the big question will be will and infinity war have. [inaudible] it could be a avengers and infinity war. >> superheroes, were going to see a lot more of them. you may risk over saturating

the market. >> we are like number 17 or 18. they continue making so much money. the spiderman integration is a huge deal. these movies will continue making money. i think the age of the movie star is over were not that whole franchise or book. his other film can't really get a box office opening. i think this is now down to the franchisor the book or the remake versus the actual movie stars. these things confuse me.

>> i just want to take nyquil. i cannot figure out what the heck is going on. obviously they're doing just fine. >> i'm all for original content and films that are new and thought-provoking. they figured out this formula and they figured out a way to interweave all these stories. but they haven't figure out a way to get constant flow of money yet. the wonder wonder woman film did very well.

the thing that marble had is that the reviews are usually stellar for their movies. when black panther reviews go over the top now infinity wars are over the roof. it's really the consistency. didn't get the humor thing down as well as marble did. they want to go to movie and be fully entertained with action, comedy and drama. d.c. was very dark. it was the problem with the current state of d.c. comic

fil film. it can make you laugh and keep you immersed. i can't imagine those numbers will be massive. >> i assume you're right. thank you very much. >> picture all of us as kids. we'll be right back. my dad says our insurance doesn't have that. don't worry - i know what a lug wrench is, dad. is this a lug wrench? maybe? you can leave worry behind when liberty stands with you™. liberty stands with you™. liberty mutual insurance. . .

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neil: all right. you see facebook stock continues its swoon. ceo mark zuckerberg has been invited to testify in front of the senate judiciary committee on april 10th. i don't think he was invited. i think he it is a good idea that you show up. >> they will send a car right over to take him down there. thanks, neil. neil: all right. bud. ashley: breaking right now, stocks are soaring that after new reports suggest that the white house is quietly negotiating with china as they try to avoid allout trade war. i'm ashley webster in for trish regan. welcome to "the intelligence report." stocks bounce back from their worst week in more than two years and optimism apparently spreading beyond wall street. here is treasury secretary steve mnuc