fundamentals. [closing bell rings. liz: there it is, the closing bell. great to see you, jason katz of ubs the markets lost a little bit of steam. the dow down 103. s&p down 7. we can't call it, but nasdaq is below the level to get out of bear market territory. that does it for "the claman countdown." now "after the bell." melissa: down 103 on wall street. fears of a an economic slowdown on wall street after unexpected plunge in retail sales. the dow ending down better than 100 points, off social lows. we were of at low of the day. s&p 500 fighting for gains. nasdaq battling to exit bear market territory at the close up just slightly. i'm melissa francis. connell: i'm connell mcshane in queens, new york, today. this is "after the bell." we have a lot of breaking news to cover. most of it, a lot is coming from here. a shocking reversal, amazon

officially pulling out of it is 3 billion-dollar plan to build its second headquarters and do it right here in long island city. it started with a fierce fight. there were 238 locations, all vying to become the home for amazon's hq2. after months of deliberations the e-commerce giant made its decision, it would split the $5 billion second location into two projects. one of them was to be here in long island city. it's a plan that was set to bring in, at least 25,000 jobs to this area, but then, came the opposition. the local and state officials who sounded the alarm slamming new york lawmakers for providing subsidies to such a big company. now that big apple portion of the second hq, as of today, it is officially dead. amazon saying in a statement, i'm quoting from it now, a number of state and local politicians made it clear they oppose our presence and will not work with us to build the type

of relationships that are required to go forward with the project. now the move is a major hit to new york governor andrew cuomo. also to the mayor of new york city, bill de blasio. both of them lobbied for the headquarters. de blasio responded in a statement, you have to be tough to make it in new york city. we gave amazon the opportunity to be a good neighbor and to do business in the greatest city in the world. amazon for its part, said it is not reopening the search for another location. so what does all this mean for the company at large? we'll talk about it at this hour. we as part of our special coverage, have all-star guests lined up. new york congressman gregory meeks joins us from just a moment in washington. talk to ron kim, democratic assemblyman from the state of new york. elizabeth luskin, amazon hq2 advisory committee member. jonas max ferris joins us from max funds.com. let us begin with the special coverage of the amazon decision, with congressman meeks joining

us from capitol hill. congressman, good to have you. you were in favor of bringing amazon to new york. what is your reaction today? >> i am somewhat shocked and saddened. i think it is a blow for new york and a blow for amazon also. i had looked forward to amazon coming, creating 25,000 plus jobs and making the kind of diversifying our economy of new york, so that we not just be dependent upon the financial services industry, but the technical industry also, the tech industry. where jobs are being created for the future. so i think it, you know, shortsighted for my colleagues that didn't want it here and shortsighted by amazon for moving, for quitting so quickly. we should both stay at the table to work this thing out. connell: that is interesting, to your point many of your own colleagues, democratic party, freshman congresswoman alexandria ocasio-cortez among them said this was essentially

corporate welfare. there shouldn't be handouts of this kind given to such a large company like amazon. were you able to talk to her, talk to others to try to make a counterargument? how did that go? >> i didn't talk to anyone directly, i say that viewpoint is the wrong viewpoint. i think that it is clear the $3 billion subsidy, i look at it, not as subsidy, i look at it as an investment. that $3 billion over 10 to 15 years would have netted the city of new york $27 billion. i liked the return on my investment. that is the way i look at it. if i can get a return on investment of that great amount i would do it every time. i think that is why it was a smart move by the governor and the mayor to want to end, many other elected officials by the way. i think majority of elected officials if you talk to them in the city and the state, wanted amazon to come, because they understand long-term benefits. connell: we're covering many

stories, done it last few weeks of people and businesses saying they're leaving new york state, usually citing tax law as a reason, to to florida and other places. now you have a big company like amazon, saying it is not coming in. is new york the city and the state that you represent, still a business-friendly place? >> well, i'm concerned about losing business of course, because we talk about the incentives or the subsidies that were given here. all of the states, everywhere are giving subsidies. so if they can't get it here. we're going other places, we're losing jobs. that is one reason we lost a whole lot of jobs upstate new york, went to the south, because of the south offering various things. we have to figure it out, know this is a competitive environment that we're in. and to look not only at the short term, look at the long term, look at the, you know, what is a benefits are. you know, i can't help but think about the investments that would have happened for some of those

young people living in public housing. i grew up in public housing. that is why it is really important to me, where they have the hopes and aspirations lifted by knowing they could get a high-paying job. i think that is what we have to look at. we have to look at not only minimum wage jobs, offered here by amazon was 150,000-dollar jobs. you know what? that is how you close the wage gap. creating high-paying jobs, training folks so they can take the high-paying jobs. that is what my focus is. connell: those jobs are not coming here. congressman gregory meeks from new york joining us from washington today. more from long island city as we continue. melissa. melissa: jonathan hoenig of the capitalist pig hedge fund and lindsey bell is here. jonathan, congressman meeks said we chased off 25,000 jobs with

average salary of $125,000 each. would that help things like alexandria ocasio-cortez pretend she is for, closing the wage gap, getting people with decent jobs, would any of these jobs moved the needle in the right direction? >> interesting, melissa, aoc is taking credit for the decision by amazon not to bring the headquarters in long island city. she is on social media, claiming, quoted we defeated the richest man in the world. we beat back amazon, corporate greed, like many opposed to subsidies are having their day if you will, which is stunning. you heard congressman meeks shock as well. this was two years in the process, melissa. hundred of sites as connell talked about had been reviewed. despite the fact amazon hadn't started building the site, think about tens of millions already spent in real estate preparations. this is a stunning reversal. i have to think amazon decision

after amazon so you with the foxconn jobs in wisconsin without subsidies were not panning out. that in my opinion changed public opinion on this as well. melissa: lindsay, the flipside, amazon would not pay enough tax, they had gotten a sweetheart deal. is the answer keep amazon away or cut the tax burden to others that are carrying the load? >> the congressman said the best point of all, 27 million of revenue in new york over 25 years. the return on that 3 billion-dollar investment. so that is a pretty good investment. what they're doing chasing amazon out is absolutely the wrong idea. aoc might have won the twitter war against big bad corporate greed in america but they have lost the reality of new jobs, good jobs, high-paying jobs and more tax revenue coming into this city. melissa: if nothing else they would get revenue on income to those people. regardless, stick around. thanks to both of you.

connell? connell: all right. melissa i want to bring in our buddy jonas max ferris, max funds.com contributor. he is here with me. beautiful long island city waterfront. cold huh? >> you say waterfront. connell: i i have a coat on. this is up-and-coming neighborhood of new york city. right across the river obviously from manhattan. real estate prices spiked right away when they announced. i wonder if they go the other way when they made this announcement? >> realtors and developers are most concerned about this. they were hoping for a boom of 25,000 higher income jobs. funny you say the waterfront. this is not like "on the waterfront," marlon brando. this is scandals led to bad optics. this is economic development zone. when you came here, pilates studios and, how much do they need to develop in up-and-coming

area. connell: the idea if you don't give it to them, they won't come. now they're not coming. those are high-paying jobs. you know about it, the argument is the multiplier effect. it is not just 25,000 jobs but additions, company's addition, 100,000 jobs in total. >> no question in mike bloomberg was mayor of new york this deal would happen. that said there is legitimate point on both sides. amazon was making a big show going around the country, looking for a red carpet to give them the most tax breaks. newark was giving more than new york. at the end of the day new york city has a lot to offer a company besides a lot of tax breaks. doesn't need to offer as much as wisconsin to get foxconn. there are reasons to be here. to the people that live here, that have to have very hard commute to get across the water, when you hear stories about helipads going in, the richest man in the world getting a deal, it rubs, particularly liberals the wrong way. although it would be a benefit to the area and the city to have more business here, like there

is google across the water, much more expensive area, it was still, there was a legitimate story they were getting too much. it was offending -- on top of that, news they didn't pay tax this is year. they didn't pay taxes last year. it starts to raise too many eyebrows. connell: we'll talk more about the company side of things in a few minutes. melissa, back to you. melissa: lower taxes for everybody. president trump meeting new york governor andrew cuomo on taxes but amazon's canceled move to new york city, is massive topic of discussion, you can imagine. let's go to blake burman at the white house with the latest. blake. reporter: that meeting happened between the president and the new york governor earlier this week over here at the white house. the reason why andrew cuomo was coming over here to pitch the president on his view to repeal the salt cap. at one point during the discussion the talks shifted to hq2 specifically in new york. of course as you know the president is from there, from that state, from that city. i'm told that during that meeting the president said that he thought it was a good deal for his hometown.

he thought it would be a good move and a good thing for his home state as well. larry kudlow, the president's top economic advisor also, a new yorker, appeared on brian kilmeade's radio show shortly after the amazon news broke and this was his response right here. >> i know there was some controversy. you know we just, president and i just met with governor cuomo and that topic did come up but it would have really helped new york, that is all i can say. so, too bad. it is just too bad it didn't work out. reporter: the other news of the white house today comes from this statement from sarah sanders, the press secretary moments ago which she said the following on completely different but hugely relevant topic across the country today, president trump will sign the government funding bill, as he stated before, he will also take other executive action including a national emergency to insure we stop the national security and humanitarian crisis at the southern border.

the president is once again delivering on his promise to build the wall, protect the border, secure our great country. so the politics of all that continue, melissa, while certainly the most legal challenge to it all will begin. melissa: the other massive story of the day, blake burman, thanks for that. let's go back to the markets. the dow stopping a two-day winning street after surprise drop in retail sales. gerri willis on floor of the new york stock exchange. what was reaction to the news about the funding bill and also the idea the president may now declare a national emergency? said he is going to. did you see reaction. >> it has been fascinating down here, the market is struggling to turn around. i thought we would get the wind behind our sales with those headlines but we really haven't managed to turn around at all. down 103 on the dow. as you say, bad news started earlier today, with retail sales, this number, whoa, what a surprise. expectations of .2 of a percent increase in december retail

sales, did not happen. the actual number down 1.2%. markets sold off. this was biggest decline in nine years, since the end of the great recession. just a little insight into the number here, if you dig in, gas station sales down 5.1%. that is expected, right? fast station sales were down. internet sector down. you're wrapping my. get back to your show. back to you. melissa: thank you, gerri. sorry. we have breaking niece on earnings reports cbs, fourth quarter results. ashley webster has the number. >> not so impressive on media giant cbs missing on the top and bottom line for the fourth quarter. estimate 1.52 a share. coming in at 1.50 on adjusted basis. revenue also, estimate was for 4.13 billion. miss on both of those. weak licensing distribution. on cable network side, they came in at 551 million. that came in estimates by more

than $60 million. entertainment side slightly shy on estimates. local media the only bright spot coming in at 561 million. even on the publishing side which has been quite strong for cbs, that missing estimates. weak content licensing distribution. that stock you can see moving lower after-hours, down a little over 2%. melissa: ashley thank you for that. >> sure. >> lawmakers racing against the clock. congress voting on bipartisan border security bill to avert another government shutdown. senate majority leader mitch mcconnell says the president will sign the agreement. critics fear there is temporary solution. there is the fact that the president said he will declare a national emergency. we'll get the state of play on capitol hill next. plus we are live in long island city. connell. connell: much more to come from here, melissa on the breaking news of the day. amazon has ditched its plans to come to new york city, forced

out some might say by local politicians. one of them new york state assemblyman ron kim, opposed to amazon from the get-go. he will join us live here in queens. later we talk to elizabeth luskin, long island city advocate, who was in favor of the company coming. much more to come when "after the bell" continues. ♪ uture. annuities can provide protected income for life. learn more at retire your risk dot org.

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and our shirts from custom ink help bring us together. we just upload our logo, and if we have any questions, customer service is there to help. - [male] custom ink has hundreds of products to help you look and feel like a team. get started today at customink.com. melissa: the gnat voting right now on the border compromise deal to avoid a government shutdown. fox news' mike emanuel live on capitol hill with the hatest. reporter: there was a lot of tension on capitol hill whether president trump would sign the deal. senate majority leader mitch mcconnell cleared that up a short time ago. >> i just had a opportunity to speak to president trump and he would say, to all my colleagues indicated he is prepared to sign the bill.

he will also be issuing a national emergency declaration at the same time. i indicated to him i will prepare, i will support the national emergency declaration. reporter: this bipartisan compromise should have plenty of votes in the united states senate but the issue of the president declaring a national emergency, that hit a nerve with senate democratic leader with chuck schumer. >> there is word that the president would declare a national emergency. i hope he won't. that would be a very wrong thing to do and, leader pelosi and i will be responding to that in short order. reporter: once it clears the senate, it gets kicked over to the house of representatives later this evening. nancy pelosi said there will be plenty of votes and they can fight over the national emergency later. >> the president is doing an end-run around that. it is, we won't reveal our options. we'll be prepared to respond appropriately to it. i know republicans have some

unease about it, no matter what they say, because if the president can declare an emergency on something that he has created as an emergency, an illusion that he wants to convey, just think of what a president, with different values can present to the american people? reporter: congress expected to pass this bipartisan funding deal later this evening and then kick it over to the president a whole day before the deadline. melissa. melissa: oh, boy. mike, all right, thank you. joining us to discuss all of it republican congressman jason smith from missouri. a member of the house budget committee. sir, thank you for joining us. the word from the white house is that they started to comb through this, legislation that was put together there were all kinds of handcuffs on this small piece of money he was given for border security. it wasn't what had been talked about. >> you know this piece of legislation is a great example of what is wrong with washington. it was filed late last night

after midnight and we're going to be voting on almost a 1200 page bill in less than 24 hours. when yet, nancy pelosi took charge of congress and she is like, we're going to have real transparency. we'll have 72-hour rule in the house. she violated it six times. this will be the six times. not one member of congress has been able to read all 1200 pages before they vote on it. there is a lot of landmines in this legislation. everything is wrong with washington. melissa: let me give you a few of those landmines. 354 instances phrase of none of these funds, none of these apartments, very restrictive language, that are put in place in order to make sure the president can't move money around or use the money that is in there for building the barrier that, you know, he had set out to do. was that fair? was that an end-run? is that just the way legislation works? >> it is definitely unfair.

that is outrageous. why the president will, as you have heard, and that mitch mcconnell announced he will declare a national emergency to secure the border. because congress he gave us the time to get the job done, once again we're kicking the can down the road and not following through. i said this almost three weeks ago when ever we did the cr. i didn't think the democrats would negotiate fair and -- melissa: don't want to interrupt you, we want to let people on the bottom of the screen, they do have the votes. mitch mcconnell is standing there, because the senate has passed this funding bill. and now it will go over for the president to go ahead and sign. he has said he will do that. he will then declare a national emergency is what he has said. we heard speaker pelosi a short time ago say that republicans are going to be sorry that they did this because a president, this is her quote, with different values, could declare other things an emergency. she brought up the fact that this is the anniversary of the

parkland shooting and she said, that that is a national emergency and that that is something that should be declare. do you worry that democrats will do something as she promised to declare a national emergency about something else like that, maybe related to firearms? >> in the roughly 40 days that nancy pelosi has been in charge of congress i worry about a lot of things. she has been doing a lot of outrageous things but an emergency has been used by the president numerous times. way over 30 since the 1970s. so this is something that has happened numerous times. and the president warned congress numerous times that just to provide for our national security for all americans and humanitarian crisis, it is going on the southern border, that congress needed to act. he gave us three weeks to act. and of course nancy pelosi has given us crumbs. melissa: congressman smith. thank you for joining us. we appreciate your time. melissa: thank you, melissa. sending it back to connell in long island city. connell: we'll continue, melissa

with our breaking coverage of the other big story of the day. to hear amazon tell it, the reason it is not coming here to new york, to build its second headquarters because of local political pressure. one of the local leaders who applied the pressure, state assemblyman ron kim, will join us from here live and he's next. the new capital one savor card. earn 4% cash back on dining and 4% on entertainment. now when you go out, you cash in. what's in your wallet?

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only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ connell: back here live on "after the bell" in queens, new york, where the news broke earlier today that amazon would not bring the second corporate headquarters to long island city. when the company announced it was not coming to new york it cited local political pressure being applied. new york state assemblyman ron kim, who joins me on the long island city waterfront is one of the local leaders applying pressure. what is your reaction today? >> this is great win for grass roots activism. community leaders stood up against the deal but concept

after company, a megacorporation like amazon, pitting new york against other cities. for almost 14 months to extract as much money out of us. we called them out. we stood strong. now we have victory. connell: so they were going to get tax breaks adding up neighborhood of 1 1/2 billion dollars. in exchange for that amazon was promising a lot. the numbers they were promising more than 25,000 jobs and high-paying ones, 150,000-dollar salaries. now those jobs are not coming here. to many that is economic opportunity that is lost. what are you saying? >> we've seen these multinationals cite number of jobs, growth, revenue to get as much taxpayers money before. every economist over and over, when they analyze the data afterwards, there is no correlation between the jobs growth and money given out. connell: i have seen some of that. you're referring what happened in wisconsin with foxconn. so your argument was amazon was saying would not actually come

to fruition? certainly some jobs would come here. whether the number was exact or not, you're losing jobs no matter how you will cite it. >> whether we eat the first marshmallow or the second marshmallow. we invest in local economy, talent pool here, instead of supporting a monopoly designed to destroy competition, local businesses that can create better long-term jobs hire locally. those things can come to fruition as tangible. giving money to amazon is not going to result in tangible out comes. connell: there might be other effects of this. i'm working through it in my own brain. i'm another company thinking coming to new york. i watch the way this whole thing plays out. i might have second thoughts. i might go somewhere else i might not set up business in new york, i might not see it as business-friendly. is that fair? >> every analyst, big consist go where the talent is. connell: that is why amazon wanted to come here. >> google announced they will invest billion dollars more into

new york city. we have good corporate citizens, corporate partners doing positive things. working with our communities but amazon has a history of trying to exploit and extract as much value and money, not only between governments and cities from our communities as well. it is not a good corporation. connell: talk to but the community a little bit or ask but the community. i was talking to people walking their dogs, playing with their children earlier today, just about everyone of them brought up the same thing to me. real estate. they department saying to me, when amazon announced it was coming to here, the prices skyrocketed. people bought here years ago. if we sell we'll make a lot of money. now they're worried those same people the prices that went on, they will come back down, will have detrimental effect on value of their property. >> whether you're real estate owners, condo owners, investors, local small business owners i can see why they're concerned but artificially inflated

haveyou is short term. connell: how is it artificial if amazon would be here permanently? >> we don't know that companies like amazon way they're behaving, they saying one thing. backing out the next day. they had a meeting with bunch union leaders yesterday. they didn't say anything -- connell: local politicians were putting pressure on the company to unionize. they said no. that could drive away business, be no? >> reality, apples and oranges. there are no other trillion dollar companies out there like amazon a super monopoly. the more they're in the limelight, they don't want to be called out for antitrust violations they're doing. they are sued in europe as we speak for antitrust violation. they don't want to be exposed. they don't want new york city. they don't want to be in the limelight. they want to get out. they want to protect their brand. no other companies are in the same boat. plenty other companies will come here, do business. connell: facebook, google are across the river. >> i'm not a fan of those big

monopoly types either, but at least they're not here to extract taxpayer money out of us. connell: final thing, why so opposed to that type of a company? because whatever you're concerns are, they, the people who work for them, many cases constituents of yours and you know, they make a decent amount of money, right? they employ a lot of people, pay a lot of money and support in some ways local business. i know the knock on amazon they knock local businesses out. >> we've seen these type of big monopoly ties before. for the last 30 years it has gotten worse. we've actually subsidized their growth because we justify that saying they're productive, they're efficient, they're going to produce very cheap products for our consumers. and that is not enough of a reason anymore because our local merchants can't compete against some of bigger companies. they need to the opportunity to do so. we should support their growth. give every incentive to amazon to the small business owners struggling right now. why is it they're paying more

taxes and there is more rigorous regulations, insurance, cost of doing business, when companies like sampson paying zero percent interest to the feds for two years in a low. it doesn't make any sense. connell: congressman meeks on earlier, supported move. assemblyman kim the other side. thank you very much. >> thank you. connell: representative ron kim, represents a district by here in queens, new york. melissa. melissa: connell, thank you for that. fixing immigration system as congress -- presenting a new plan for lawmakers to work together to find a real solution on immigration. next, jay timmons, president and ceo of the national association of manufacturers. he is sounding off on what he says the immigration plan america needs. ♪ trips to mars.

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melissa: breaking news right now. the senate passing spending bill right now to avoid a government shutdown. the house is expected to pass the bill and president trump is expected to sign the bill and declare a national emergency, as lawmakers in d.c. work to secure our borders, top american manufacturers are launching a new push to convince congress to pass comprehensive immigration reform. here now is jay timmons, national association of manufacturing president and ceo. i know you have a bunch of different tenets to this, we

don't have a lot of time, what are the big points in here you would think make up a solution? >> so, i think overall the point is, if we're going to actually fix a broken system you can't simply retreat to our separate corners. so what we tried to do is tried to collect the best of everybody's viewpoints and we recognize that we have a need for increased investments in national security whether that is walls or boredders or fences, technology. we recognize that immigration system needs to focus on the workforce. there are seven million jobs going unfilled. in manufacturing alone we have half a million jobs. we believe we need permanent solution for the daca babies or recipients, the dreamers, if you will. we also want to see a focus on rule of law. melissa: those are all really good points. i know on the worker front because we focus on that a lot here you want temporary worker programs. >> right. melissa: that both support stem

and also got to be day laborers. there is a lot of different employment opportunities in this country right now. >> right. melissa: one thing i notice you didn't mention was e-verify. don't you think there needs to be something in there to incent employers to also follow the law? >> yes. actually that has always been one of our tenets at nam. that is a primary tenet. we want to see a reliable verification system. we want incentives for employers to use that system. quite frankly there is no reason for an employer not to use the system unless for some reason they're trying to evade the law. we don't want to see that. so you're exactly right. to your point on temporary workers, day workers, visa holders, we want to see fees for those put into a program that helps train future generations of americans to be able to, to access those jobs. melissa: what is your take why washington doesn't do this? it seems like the whole entire population has, for one reason or another, something that was in there, they would like to see

comprehensive immigration reform and washington seems more set on, you know, fighting about it, rather than solving it. as somebody who goes and lobbies them and tries to deal with them, what is your honest impression why they don't solve this? >> look i think it is politics, just plain and simple. it is often so much easier to say, no we're not going to do that, or look at what the problem is, rather than to say, here is a solution, here is how we can fix it. will we get everything we want? no, we're not. does that mean we'll have to compromise in certain areas? yes, we will. that is the way law is made, good laws are made. that is the way we come together as a country. manufacturers have always stepped up when a solution is needed. and we're doing it again here and we're hoping folks on both sides of the political aisle take a hard look at this. we shared it with the white house and congress. so far all we have gotten back is positive feedback. melissa: if you don't make improvements you go out of business. for washington it seems like when they don't do their job

they don't necessarily get voted out of office. anyway, jay timmons, thank you for coming on, sharing where your industry stands. we appreciate it. >> thanks for having me. melissa: back to long island city. connell. connell: so many angles, melissa to this amazon story. we heard from politicians on both sides now that amazon decided not to come here to new york. in a moment, elizabeth luskin, an economic advocate in new york city. was on the advisory committee that was supposed to be working with amazon on its transition. now that it is not coming we'll have her reaction to that news when fox business continues live from queens, we know their rates are good, we know that they're always going to take care of us. new york.

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maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. connell: we're back with our special "after the bell" coverage here in queens, new york, on the day which amazon surprised a lot of people by announcing it was not bringing its second corporate headquarters to long island city, right across the waterfront from manhattan. and the reaction has been coming in from all, you know, parts of the political spectrum. we talked to politicians on both sides of it already. on the business angle, i want to bring in elizabeth lusskin, president of a group called the long island city partnership. you've been working with amazon or just the beginning on the transition that was supposed to happen here in new york city. they're not coming to this area now, first of all, what is your initial reaction to that? how big after loss is it?

>> there is tremendous disappointment. great things was to happen for the local businesses, jobs for the local people, invests in our education and workforce system, investment out of this deal for the infrastructure of long island city. a lot of great things were going to come. i will say that on the good side, a lot of people have now gotten a window into all the great things are here that made amazon choose us in the first place. we're really gratified for that. those things are still here. connell: objective speaking it's a beautiful area. people can see that in the backdrop. everybody thinks of the skyline in new york. when you're here in queens, just as brooklyn or in new jersey and jersey city, you see the whole skyline, so you're looking in, so it is beautiful in that regard, but now if you're a company, i tried to make my point to assemblyman kim who joined us a few minutes ago, i wonder if they're business-friendly there in new york. i don't want to happen to amazon to happen to me. that has to be a fear? >> there are a lot of things that are incredible you don't

see. a lot of incredible businesses are behind brick walls. you see the huge residential towers going up. we're the fastest growing residential community in the company, most productive industrial company. you can't live as a residential community. you need jobs. you need jobs for people who will live here and work here. we have the largest public housing project in the country as well as three other pub housing developments. those people need jobs as well. best thing for city of the future, people are living, working going to school in the same neighborhood. that is something we can offer here. we can offer that to any business that wants to come in. connell: brings up an interesting point, my understanding, correct me if i'm wrong, most of the people here, a large number of them that live hire, take the subway, take the ferry, work across the river in manhattan. your point you're trying to change that? >> the healthy thing for people not hopping on subway. we loveman hat tan but to be

staying here. increasing trend of people doing that here, including every level of companies but preponderance of people do that. that is not healthy for retail people. get up in the morning, go to subway, go to manhattan, do everything and come back to sleep. that get coffee in the mornings, in the even having a drink here. if they're living here as well, they're going to gyms, walking the dogs like people here. it is a much healthier paradigm. that is honestly what amazon and other great companies are looking for because that is where people want to be. people don't want to be living and working now in segregated separate areas. connell: yeah. >> they want to have the rich environment all around them. connell: elizabeth, thank you for the time. we appreciate it. good analysis of all this. we appreciate your perspective. thanks for coming on. >> thank you very much. connell: we continue our coverage from here. elizabeth referring to this to some see agree, people from long island city, get their

reaction, amazon, the company they thought was bringing in a lot of jobs, suddenly, abruptly is not coming here. we continue on "after the bell" after a quick break. ♪ 300 miles an hour, that's where i feel normal. having an annuity tells me my retirement is protected. learn more at retire your risk dot org. our grandparents checked zero times a day. times change. eyes haven't. that's why there's ocuvite. screen light... sunlight... longer hours... eyes today are stressed. but ocuvite has vital nutrients... ...to help protect them. ocuvite. eye nutrition for today.

♪ connell: back hire with our special coverage of amazon's decision not to bring the second corporate headquarters to new york city. melissa, when we came across the river from manhattan to queens and long island city, we ran into a lot of people out in this neighborhood, some walking their dogs. happens to be a dog park behind our camera location, people playing with their children in local park. i mentioned when i brought it up in the show, people mentioned about real estate. when amazon was coming here prices skyrocketed in local real estate. one gentleman, seen as original

building in long island city, this neighborhood before it started to take off, a lot of people in the building were thinking about selling, thinking about getting out. they had been here, liked it for years. after the amazon effect took efebruary, thinking they would make a huge profit. they're wondering, since amazon is not coming here what will happen to those real estate prices. it is interesting. almost everybody brought up real estate. melissa: i wonder if you met regular people who were happy it wasn't happening? when you look at the all coverage, people objecting to it, local politician, local city counselors, maybe some state senators but they don't list, business owners, regular people, anyone like that who is against it. it is small market local politicians. connell: best i can give you on that front maybe a few people who just didn't care one way or the other. melissa: right. connell: opposed to being against it completely, not so much, a small sample size. one of the interesting things i point out, we spoke to

assemblyman kim, did example of this. congresswoman ocasio-cortez example of this, local politicians very loud in the minority, very loud, who don't actually represent this district. both of those two we mentioned represent neighboring districts. which is interesting. melissa: they said amazon would extract revenue from the area. wonder what they want to do with the money. we're two hours away from a sit-down with the chinese president and u.s. trade delegation. we'll have breaking details on that. that will be moving the markets tomorrow. that's next. ♪ what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy.

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melissa: two hours from now, the u.s. trade delegation will be meeting with the chinese president. let's go to edward lawrence in washington with more. reporter: again, the chinese promising to buy large amounts of u.s. products, but balking at the pace of structural changes the u.s. wants. they don't want to do it all right now. the chinese hoping to persuade the u.s. to move the tariff deadline from march 1st and have floated the idea through chinese government advisers to make the new deadline may 1st. u.s. trade representative robert lighthizer has told me in the past that he would not support moving the tariff deadline unless structural changes were made. white house adviser larry kudlow says we are not backing off. listen. >> they are covering all the ground. they are hard at it. they are going to meet with president xi so that's a very good sign. and they're just soldiering on. so i like that story and i will

stay with the phrase. reporter: look at the table, how far apart a little garden in between the two sides, might be an indication of how far they are right now. melissa: thank you so much. that does it for us. "bulls & bears" starts right now. david: our top story this hour, new reaction is now pouring in on the shocking announcement by amazon, the tech giant canceling its plans to build a second headquarters in new york city. this is a decision that's been met with both anger and relief. new york congresswoman alexandria ocasio-cortez is taking a victory lap of sorts, tweeting this out. quote, anything is possible. today was the day a group of dedicated everyday new yorkers and their neighbors defeated amazon's corporate greed, its worker exploitation and the power of the richest man in the world, end quote. here's what white house economic adviser larry kudlow had to say

to