invests. susan: great to see you as always. thanks for dropping by on this friday. [closing bell rings] susan: markets are closing the week at session highs nice way to end it. nasdaq exits ahead of the president's day weekend. that is it for countdown. connell mcshane, melissa francis. melissa: we'll take it. connell: that is susan, melissa, i'm connell. it is friday. melissa: shall i pick this up for you? connell: surging into the close up almost 500 points the way things are standing here. 443. that is a great friday as investors brace the sign of progress being reported out of the trade negotiations with china. let's see how we close. 443 to the upside is green for the s&p 500 and nasdaq as well. we get out of bear market territory. we're waiting to say that all

week long. we make it. as we said, i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." fox business team coverage, gerri willis on floor of new york stock exchange. another round of trade talks wraps up between the u.s. and china. blake burman at the white house after president trump declared a national emergency at the southern border. let's start with gerri at the nyse because you have that major rally on your hands down there, 444 points. take it away. >> you got to love this. the traders down here love this. why stocks were so strong? you touched on it, china-u.s. negotiations. you heard the president say the march 1st deadline is not hard. we may move it back. all of that good news for stocks. let me tell you what has been rallying here for the week actually, ending the week higher. goldman sachs, jpmorgan chase, you probably heard warren buffett upping investment in financials. also you got to think we'll get some kind of a trade agreement. it could ultimately be good for

banks and financials who have been trying to storm china for so very long. united technologies, utx, also doing well here. this is all about china. caterpillar, all the usual suspects. the trade names out there doing very well indeed on this trade rally. now for the negative side, the other side, the flipside of the coin, apple down and again, warren buffett, having a hand in this, selling a bit of his stake in the company. coca-cola, with results, eps was fine but a weak out look for 2019. as i toss it back to you. i will say one thing. should stop calling it earnings season, start calling it outlook season. that is the only thing people care about. back to you. melissa: gerri a good point. getting close to a deal. u.s. and china negotiators agreeing to further talks in washington next week ahead of a march 1st deadline. edward lawrence live in d.c. with the latest. reporter: melissa, president

donald trump says if we're close to a deal he will slide the tariff deadline. the president saying if we're close to a deal he will invite senator chuck schumer and house speaker nancy pelosi in for the final stages. president trump saying that he is tired of being second guessed no matter how good the deal gets the democrats will not be happy. >> if they give me 50% of their lan and every ship that they built over the last two years, which is a lot, and they give them to me free, the democrats will say, what a lousy deal. reporter: the sticking point with the trade deal centers around the mechanism of enforcement. china resisting protections for intellectual property. trade sources are saying china is offering non-impactful changes. still in china today, the u.s. trade representative told the chinese president that there has been progress. the u.s. remains hopeful to that. president xi xinping ping says, he is willing to resolve the issues through cooperation.

>> i think so far, the trade teams from both countries are working toward this road of consensus. reporter: the fact he attended the talks is a very good sign. chinese negotiators will be in washington as you said next week. chinese delegation expecting to leave on tuesday. president dangling he would remove the tariffs if they have a deal in place. back to you. melissa: edward, thank you. connell: bring in our panel. carol roth, future file legacy planning system, shah ghailani. carol, on these markets we're up 440 plus points for the dow, pricing in what exactly, do you think? >> i think they're pricing in at least a memorandum of understanding, maybe not a full deal but something that outlines the key deal points between the u.s. and china. if we're close to that, we at least have that, that means we don't get this increase in

tariffs in march, for the market, that is obviously a very good thing. i think rally that we saw today was all about china. connell: you wonder, shah, if investors get a little ahead of themselves to edward lawrence's report, the chinese only promising non-impactful changes, what do you think? >> i think the market is discounting all that. it recognizes the likelihood of comprehensive deal is probably between slim and none but a superficial deal is on the table. markets think that is good enough. that is what they're pricing in, 100% f we get anything less than that, i think markets shake it down. i think we go a lot higher because we will get a deal, president wants a deal, market wants a deal, and market says we have one coming. connell: that is interesting. superficial. we'll see you both later on in the hour. thank you very much. >> a shutdown bill -- avoided

and president trump signing the bill. blake burman from the white house. reporter: this morning he officially made it clear he signed the national emergency along the southern border, this afternoon, the president signed the spending deal as well. $1.37 billion in the spending bill for border barriers though the trump administration they will try to get that number up to some $8 billion through executive actions and the national emergency declaration. the president took to the rose garden early this morning to pitch the need as why there needs to be a border wall along the southern border. watch. >> not like it is complicated. it is very simple. we want to stop drugs from coming into our country. we want to stop criminals and gangs from coming into our country. nobody has done the job that we ever done. nobody has done the job we've done on the border.

reporter: legal action likely to come. chuck schumer, nancy pelosi saying following in a statement earlier today, saying quote the president's actions clearly violate congress' exclusive power of the purse which our founders enshrined in the couldtution. the congress will defend the constitutional authorities in the congress, in the courts, in the public, using every remedy available. the aclu has also said it will be filing suit on monday. president trump said in the rose garden today he expects this to go to the ninth circuit out in california, to another court after that before eventually making its way to the supreme court. melissa, connell. melissa: sounds like everyone is very satisfied with that. blake, thank you for that. let's bring in brad blakeman, form sear senior staffer to president george w. bush. you're also an attorney, let me ask you, what constitutes a national emergency? all day long i listen to people say this is national emergency. other people, he invented a national, it is trumped up

exaggerated. is there any criteria legally speaking that makes up a national emergency? >> sure. you have to go to the language of the statute that created it. then you have to go to the precedent how it has been used. it has been used over 50 types since the enactment in the 70s. it is used for things i would not consider today as a national emergency, other presidents have. this statute is based on presidential discretion. it is what the president perceives the national emergency to be. he makes his case for it, as he has done in the last few months. i don't think a court will interpret their interpretation of national emergency when it is in the president's discretion, he is the chief operating officer of the united states. it will make its way through to the courts. when it gets to the supreme court, the president is strictly within his rights by the statutes, using his discretion. he outlined it. he will not subvert their

judgment against his. melissa: he as much conceded defeat in the ninth circuit. what reasoning would they use if you're arguing on behalf of the other side in that area, what would you argue? >> the president by his own words has not been consistent. that is what they're going to say. but as we've seen in other challenges to the president's actions, it is not what the president says as much what the president writes down, as definition of officially what he deems the national emergency to be. it is within the four corners of the document which creates the national emergency on paper which then creates the action. so it is not so much, i wouldn't be listen to what the president says making the argument if i were the democrats. i would be scrutinizing what he cites. melissa: are you saying he may have hurt himself with the long press conference where he said things like, i had plenty of money i didn't need to do it, i wanted to do it faster, that may not have happened?

>> doesn't really matter what the president says. it is what the president puts down on paper and does. that is what people have to separate themselves from. that is what the courts do. they're not looking to what the president says. they're looking what he does and how he used his authority. melissa: politically, how do you think this plays for him. i know in the mainstream media they are saying things like he threw a tantrum because he didn't get as much money he wanted from congress. congress controls the purse strings, now he is having a fit. obviously that is very partisan for them to say that, that is nonetheless what they're saying on mainstream news stations where other people are trying to interpret what went on, busy with the rest of their life? >> quite frankly what trumped did he trumped, checkmated pelosi and schuler who thought they had the upper hand on the president. the president turned the tables. he signed the legislation. he reopened government. they tried to handcuff him, we gave you close to 1.4 billion

but they restricted how he spends it. fine, i will take what i can get. i will declare national emergency. spend $8 billion to get the project underway. everybody knows it will cost a heck of a lot more than that overtime, to get the job completely done. melissa: brad blakeman. we appreciate it. have a great weekend. connell: breaking news we're following, a shooting took place in aurora, illinois. it is being investigated. we have new information coming in the last two minutes. police say the shooter has been apprehended. the shooter has been apprehended but the area is on lockdown. we have reports of multiple civilians and police officers shot. working to confirm that information. we'll bring you any updates this hour. the shooter we're told has been apprehended. melissa: more on president trump's move to secure the border. how congressional leaders are responding. what it could mean for the republican party, steve forbes,

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>> some were saddened because i think it's a blow for new york. i think it is a blow for amazon also. >> i think it pace great win for grassroots activism. >> imagine if you give every incentive given to amazon to the small business owners struggling right now. >> i think it's a tremendous disappointment. there were a lot of great things poised to happen here, both business for the local businesses, jobs for local people, investments in our education and workforce system. connell: now that amazon has

officially canceled its plans for a second headquarters here in new york city, that we talked about it at length, local leaders in virginia and tennessee are sounding the alarm for the company's plans for expansion in their states. we're joined by one of the people voicing concern, odessa kelly, stand up nashville co-chair. thank you for coming on. i guess the simple question, same way we were talking to people in new york who had similar views about this yesterday, what is the problem with amazon coming with 5000 jobs promised to nashville? >> well, thank you for having me on. let's be clear, we're not against amazon coming to nashville. what we want amazon to do engage in the people in the process. in nashville we have a lot of questions, we want to make sure they will be a good neighbor in nashville, embrace the community so we know what is going on. connell: give me some of those. that is interesting, that is something we came up here in new york. some people were flat-out opposed, we don't want this type of company. others said we want them at all

costs, there was this third group, it wasn't really handle right. is that what you're saying or if so, what type of questions need to look at? >> in nashville we have affordable housing crisis. transit con guess shun and we have-congestion issue and transit. we want them to be come to the community to be part of the process. we want amazon to be good neighbors to engage, talk correctly to the community. connell: they could help, right, with both of those issues hypothetically. there is group down in your area, chamber of commerce group, nashville chamber of commerce, i looked what they said. number one amazon would boost the city sales and tax, sales and property taxes come in. more tax revenue would come in. the second thing they would help the downtown in nashville in names of development. workers come in.

workers would need housing, they would need other services. their look at it, hey this will cabinet positive. >> there are a lot of angles i guess you could look at it from but there are questions we want answered. i cannot stress enough, if those are happening why haven't they not talked to the community? all we're asking come to engage the community. connell: i understand you want the answers, what is the biggest concern? you're kerned they will come in and do what? what is going to happen to housing? >> that is the thing. connell: you don't know? >> transparency around it. we're asking them to come in to let us know. we woke up one tuesday morning and found out amazon was copping to nashville. that is pretty much it. we're asking to get in depth details what that means. connell: do you blame your local leaders, they should have done better job bringing them in handling the process or pointing fingers at the company on this? >> i don't know there is anything to blame. there is still opportunity to engage. connell: maybe that will happen. they're planning to come there

either way. maybe this will lead to more of a dialogue. we'll see what happens. they're out here in new york. you guys still look like you have a chance to get business that comes with it. thank you for coming on. appreciate the views. >> thank you for having me. connell: okay. melissa: care roth and shah ghailani are back to react to all that. carol, what did you think about that? they want want want to be engags one of the things in new york they're complaining didn't happen but whose fault is that? isn't up to the local officials, and the mayor to engage the local community on meetings or is that on amazon? >> thank you, melissa, is a question don't hate the player, don't hate the game. if you don't like the process, abatements, subsidies. this is not an issue with amazon. this is the way that the city ran the process. so the bottom line here, economic growth is good.

amazon is going get a ton of jobs somewhere. they would be upset with nashville and virginia, but chicago would be happy to have them. people coming out that is so up the, everything you're upset about is the fault of local leaders and government, not the corporation. melissa: shah, let me add a few things for the list for carol there. one of the things we heard in new york, from the sound bite, at the beginning from here in new york, we want to see those benefits go to small business instead, the lower taxes. instead? why is it like one group or the other gets tax benefits? how about you lower taxes for everyone? that is the answer, not to chase amazon out, lower those taxes. in nashville, she said they have a budget issue. guess what that is? too much spending. with would solve their problem, more tax revenue, but also less spending. in both cases there was a solution right in front of them, that was the local government or the problem with the local government. where am i going wrong with

that, shah? >> you're not going wrong at all. economic activity will increase the tax base. it will be beneficial for the area. so i don't understand it. to me like left at this loonyism for the local leaders to hijack the process. i think they have done it partly because they don't like some of the corporate practices including amazon's stance on immigration. amazon's anti-union position. some of those things are becoming a political issue for the local leaders. i don't know how they ended up hijacking the process. mayor de blasio and governor cuomo were for this deal. all of sudden they're in the back seat. not amazon's process. melissa: thank you so much. loony left at this local leaders. connell: alliteration at its best. watching clyde frazier announce basketball games. well he rhymes it. in terms of amazon following lead of another failed commitment, ge bailing out with new plans. it would build a new

headquarters, this one in boston. how about tax breaks, tax subsidies, is this enough? is it the right thing to go to keep corporations from pulling the plug. we'll talk about that. tapping into the executive powers, president trump declaring a national emergency securing or trying to secure funding for the wall. the latest reaction to that coming up from capitol hill. ♪ sunlight... longer hours... eyes today are stressed. but ocuvite has vital nutrients... ...to help protect them. ocuvite. eye nutrition for today. i that's the retirement plan.e, with my annuity, i know there is a guarantee. it's for my family, its for my self, its for my future. annuities can provide protected income for life. learn more at retire your risk dot org.

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melissa: securing our borders. president trump announces earlier he will officially declare a national emergency at the border. $8 billion to fund the border wall, causing mixed feelings inside of the beltway. mike emanuel in capitol hill with the latest. reporter: melissa, good afternoon. top democrats, speaker nancy pelosi and senator chuck schumer saying quote the president's actions clearly violate the congress' exclusive power of the purse which our founders enshrined in the

constitution. the congress will defend our authorities in the congress, in the courts and in the public using every remedy available. democrat chris coons expressed this concern. >> i think all of us will come to regret this. this is not the right way for the president to try to end-run congress when he is unsatisfied with a broad, bipartisan compromise that is delivering bills dollars more in investment for border security and that the majority leader who himself an appropriator, would embrace this outcome surprises me. reporter: kentucky republican senator rand paul tweeted his concern writing, i do want stronger border security including a wall in some areas how we do things matter. over 1000 pages dropped in the middle of the night. extra constitutional actions are wrong, no matter which party does them. tennessee republican senator lamar alexander said the

president made a strong case for boarder security, but declaring a national security is unnecessary, unwise, inconsistent with the u.s. constitution. on the other side the president with closest allies in congress are saying, go for it. >> i certainly support the president. i wish congress could have done more to help him. when you look at the president having to take these kinds of measures, because congress has failed this president and the american people. for nancy pelosi to suggest this is setting a precedent? we have had national emergencies declared prior to the president. if she wants to do away with it, i will be glad to do away with it in bipartisan wayport port congress will talk about executive action, legal action, when lawmakers return. melissa: they're taking another vacation. mike, thank you. connell: earned a break. new target for the left. democrats taking what seems like a victory lap, what they think is one after amazon ditched the

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connell: progress sieve democrats are claiming victory now that amazon pulled out of new york city, elizabeth warren as an exam well with following tweet. she writes, one the wealthiest companies in planet walked way from billions in taxpayer bribes because officials in new york are not sucking up to them enough. how will we allow guy an corporations to hold our democracy hostage? some running alongside challenging silicon valley as well. david mccabe, joins from us "axios," political reporter. many democrats considered silicon valley as kind of a base for them. and now looks like you will have a lot of people running in 2020 going after big tech. what do you make of that? >> this is the big transformation when it comes to tech in the 2020 election. tech was long time their best friend. shifts of amazon is beginning of

concerns over facebook's data privacy practices or google's practices or even apple's power could animate a greater progressive backlash to big tech on the campaign trail. connell: kind of interesting. wonder how it affects, any impact on fund-raising, analogous if you look at the coasts, republican party is based in the middle of country, the coasts support democrats, wall street east coast, technology west coast, a lot of wall street money that would come into democratic campaigns ordinarily, but you have democrats going after wall street as well. they will do the same thing with technology, but will the money keep flowing? >> that's a great question. one we'll be reporting out here. "axios" and our colleagues will as well. one thing to remember silicon valley donor base still largely leans to the left. i think certainly their business interests are probably a factor in that. they also care a lot about social issues, immigration, lgbt rights, that might find them aligned with the democratic

party even if these candidates are out there on the trail hitting their employer. connell: when you talk to the companies, netflix, alphabet google, microsoft, add in other ones we talked about, amazon and apple, when they talk to the companies, what do they tell you they're doing? whatever money can buy, whole team of consultants working in d.c. and the like but how are they responding to this? >> they have hired consultants in d.c. a lot built up lobbying operations last several years. amazon is been great for that. they quietly built their office substantially the last seven years. we've seen them take proactive steps. amazon faced a lot pressure from bernie sanders, democratic member of congress row kana, they said they will raise the minimum wage to $15 to diffuse

the argument. connell: depends how you look at it timingwise. are you surprised to a degree what they actually did yesterday, amazon, they pulled plug? a lot of people thought they would put up with political pressure in new york. they didn't do that i don't know if a sign of things to come? >> absolutely, yesterday was totally stunning. the deal was built by local officials to resist this kind of scrutiny but appears they got scooped by the progressive backlash which we've written about in our "axios" am newsletter, that essentially the new york was the centerpiece of a progress -- that amazon represents the way we think economy is broken. this is idealogical strain in the democratic party. connell: that they will not put up. real interesting stuff. good to see you. david mccabe from "axios." melissa. melissa: breaking news to the shooting incident in aurora, illinois. the shooter has been appre hended and the area has been

secured according to local authorities. there is a continued police presence that will remain as the investigation continues. there are reports that multiple civilians and four police officers have been shot. one witness claimed he recognizes the gunman as a fellow coworker. president trump has been briefed on the situation. we will continue to monitor this breaking story and bring you the updates at this hour. connell. connell: the battle is on meantime. the president has indeed declared a national emergency at the border. the political fight in washington is only now beginning. we'll talk to steve forbes, forbes media chairman about that. what he thinks about amazon's decision as well to abandon the big apple. ♪ there is a chance that's the last time.

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>> by creating such a strong economy, just look at your televisions see what is going on today, it is through the roof. what happens is more people want to come. so we have far more people trying to get into our country today than probably we have ever had before. and we've done an incredible job in stopping them. but it's a massive number of people. if we had the wall it would be very easy. melissa: president trump citing the booming economy as one of the reasons a border wall with mexico is so necessary. joining me to react to the president's announcement, steve forbes, forbes media chairman. what do you think of this

approach from the president? >> we all know, he allude the to it, it will be challenged in the courts. the courts will put an injunction on it. eventually goes to the supreme court in 2 1/2, three years. this is setting base for issue later this year and in 2020. he got the 55 miles. he would like more but i think this emergency thing will be blocked at least for the remainder of this year. melissa: so do you think it was politically wise or not? >> i think it shores up his base in the sense that showed he did everything he could, even though he does not have even full support in his own, in his own party. like a general without all of his divisions. you do what you can and then you move on. melissa: i also want to get your take on this other big story of amazon backing out of its second headquarters here in new york city. you know, first of all, opponents are talking about this idea that we were giving, the city was giving amazon $3 billion. isn't that amazon's own profits

that they were declining to seize from them in the form of taxes? >> that's right. new york never had that $3 billion, so, they don't have anything now. what they would have had in return is a $25 billion package, including 25,000 jobs, paying an average of $150,000 a year. what you have here is not principle about whether government should be in the business of providing tax credits but fact is that they didn't, i will be blunt about it, take care of, being euphemistic here, local politicians on the city council and state legislature. that is why they opposed it. they didn't get theirs. the governor and mayor originally figured if they wouldn't get a deal if they bring everyone in the room but these guys have their palms out. amazon looked at that, realized, this is not just a one-time thing. these palm seekers, want to be greased will be there forever. every day they will have

demonstrations. every day people are trying to squeeze them for this thing, that thing, they said not worth it. going elsewhere. melissa: interesting you would say that a lot of people have made the point those were balking the loudest, protesting the most, not actually local officials that represented that area. it was the surrounding areas that weren't part of the deal. those are the ones that came out, they said they were for unions and they said they were for small businesses but if they were truly for these other small businesses that were paying more taxes than amazon why not lower their taxes also? i mean isn't that a better solution rather than chasing away the jobs and revenue? why don't you lower taxes for the other businesses that you're supposedly on the side of? >> absolutely and with amazon there you would attract other businesses. new york would be truly a high-tech center. it is already halfway there. this would make new york a real rival to california, but it chose not to do so. what it says to future businesses there, be careful if

you want to go in the area. you will become a target when you become big enough. melissa: i wonder, so what happens from here? you look at a place like california and they have been so hostile to business for so long. some businesses have left. they have gone to neighboring states, nevada, texas, elsewhere but there is still a huge economy in california. to what extent, how much damage does this do to new york really? >> it does damage in the sense of what you're not going to get and california, the valley is so big, so massive that they still have to go there. many companies still feel go there, startups and the like vcs, and the like, much of the rest of the state of california is not doing well which is why they had out migration. the rest of the state not so good. how long the valley will last, as you point out, texas is taking more, utah is taking more. the valley will continue to be important but california is

determined seemingly to kill the golden goose. the new york never got the goose in the first mace. melissa: oh, so depressing. steve forbes, thank you. connell: no goose. melissa: no goose for you. connell: revving up for the daytona 500 coming up this weekend with nascar fans getting set for the huge race. the 61st edition of the what they call the great american race. we're live on the ground with the great darrell waltrip next. our grandparents checked their smartphones 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.

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connell: let's get to the daytona 500, a huge race for our friends at fox sports this weekend. auto racing biggest event. happening for the 61st time. it will be this sunday, daytona beach, florida, dagen mcdowell is live on the ground with all the action and a legendary guest

standing alongside her. dagen. >> yes, darrell waltrip, the nascar hall-of-famer. >> you did. >> finally, took you long enough in your career. >> 17 years. 1989 i was right here, doing the icky shuffle. >> i forgot the icky shuffle. >> you know. >> exactly. we're standing in victory lane. somebody from nascar handed me the darrell waltrip trading cards. you look good. >> they made me handsome. >> you have been a broadcaster with fox sports. your first race was here in 2001 when dale earnhardt died. >> yeah. >> on the track. i just want to say, we're going to carry on a conversation we were having in the break. when i came out of that tunnel and saw these grandstand when we got here yesterday, i always get the lump in my throat. >> yeah. >> it is up to you in the booth to pass that experience on to

the fans at home to build this sport back up. >> yeah. as you well know, there is nothing like the attract experience. you can watch it on tv. we do incredible job with replays and analysts to analyze anything that moves. when you come to the track, you smell it, you hear it, you feel it, you touch it, you're so close to the action and you're hooked and you can't wait, where is the next race, that is what you want to know. if you can't come to the track, i tell you, fox sports, people we have and the equipment we use and the way we cover these races it is almost like being there. if we could grab your couch and shake it real good you would think you were here. >> you added a lot of cameras, technology for the 500 coming up sunday but what is it going to take what do you want management and sanctioning body of nascar to do in the next year to get more people at the track, to make sure it is easier to raise money from the sponsors, to

really, like to rebuild that -- you feel it when you're here. it is like family. >> yeah. >> whether it is the fans, the crewmembers, team owners, drivers, the broadcasters, everybody has this really close relationship but need to build that fan base back up. >> we're at a crossroads. i think right now the sport is in a position, a lot of the drivers had all the core fans, fans my age, they remember, they're retiring and we've got a lot of new young faces coming into the sport. drivers that people never heard of, they don't know anything about. a lot of fans saying i won't go to racing because so-and-so -- i won't go to racing because of this guy, this guy. you find one of the guys be here a long time. joey legano 29 years old. >> he is not even 30. >> he won the race last night. he is a great kid.

daniel hemrick, a great personality. ryan blaney. a lot in the sport. we have to get the fans to connect with them. >> you're a great personality. >> i've been here a while. doing this 19 years. >> thanks for coming on. >> thank you. >> watch him, mike joy, jeff gordon. 2:30. melissa: i want to see dagen behind the wheel. connell: scary,. >> no you don't. melissa: incentives gone bad. why critics say amazon's prove tax breaks are ineffective, what? we'll examine it next. ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal? it isn't. ♪ ♪

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dealing with today's expenses... while helping plan, invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. breaking news now to the shooting incident in aurora, illinois outside of chicago. the four police officers who were shot are now in stable condition and that the shooter has been neutralized. first ge and of course amazon. both companies scrapping plans for new headquarters in two u.s. cities despite the lure of tax incentives. in new york yesterday, saying that taxpayer dollars would be better spent elsewhere. >> we invest that money in local growth, local economy, the talent pool that's already here instead of supporting a monopoly that's designed to destroy businesses. those things can actually come

to fruition as tangible. giving money to amazon is not going to result in tangible outcome. david macintosh joins us now. it was mostly pointed out yesterday. there are problems with that. it's not necessarily an either/or and that's w why i wanted to talk to you about it. it's tax incentives, not a pool of money being given to the company. >> it's giving us a chance to talk about the targeted incentives. ment is there an issue with the system or do the politicians just don't get it? >> there is a problem with if the system. a much better approach would be to use the money and lower taxes across the board, create a good healthy environment for businesses to come and locate and grow there. that would apply to everybody so you're not picking winners and losers. these type of incentive packages are bad for the taxpayer. they don't get paid back in terms of taxes put into their cofers of the government but

they're bad for the businesses. in a way, amazon probably escaped an unnecessary investment from going from one to three headquarters. now they'll go to two. ge realized it was a bad investment for them to move up to boston. >> right. >> so they're an art additional. >> i know you said they don't always work out for the cities. unfortunately it's an all or nothing type of deal. new york doesn't get the jobs that were promised. a lot of high-paying jobs, you just lose them completely. >> that's right. if the promises for sure would have been kept. i did read that amazon is still going to increase employment in some other offices in new york but you don't get the big new campus. and i understand cities want to grow, they want to have that. but if they have a good environment, low regulation, low taxes then they can hang out the sign and attract businesses. >> do you think that hurts new york, though, in terms of that environment, other companies look at it say, you know what,

not for me. >> i do because the other message that got out there loud and clear was a message of envy. we don't want big companies to come here. and that's never a good thing for the rest of the business community to hear. >> i wonder if sometimes we get a little -- i've lived in new york my whole life. we get a little bit of arrogance here. it's new york. if they don't like it, tough. maybe we're getting to that point where we're crossing some sort of a line where we're shooting ourselves in the foot. >> you always got to say competitive. businesses are leaving from new york, connecticut, chicago, illinois because of the high tax rates. so texas and florida and arizona, they're competing. >> a ton of stories on that. david, thanks. have a great weekend diswhr >> great to be with you. >> the money would be petter spent if they did it across the board pu they've never going to do that. the only way to trick them into lowering some taxes is something like that but the problem is the politicians are so greedy for

the money to spend it. >> yes. >> that they're noa never goingo do that. never going to happen. >> not the world we live in. you got to deal with reality, weird as it is. thanks for joins us. >> bulls & bears starts right now. new reaction pouring in after president trump declares a national emergency to secure funds to build a border wall. >> i'm going to be signing a national emergency and it's been signed many times before. it's been signed by other presidents from 1977 or so it gave the presidents the power. it's very simple. we want to stop drugs from coming into our country. we want to stop criminals and gangs from coming into our country. nobody has done the job that we've ever done. i mean nobody has done the job that we've done on the border.

by creating such a strong