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tv   After the Bell  FOX Business  September 9, 2019 4:00pm-5:00pm EDT

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[closing bell rings] just down a quarter after single point. the dow is up 41 but the transports are the winner. s&p is positive. but i will wait until is settles "after the bell." connell: good thing liz didn't make that call. up and down. we'll talk about why on the show today but stocks as liz says mixed at the close. investors assessing moves by the central bankers around the world to try to stimulate their economies. dow settles in 43 point higher. certainly off the session highs. we're up 100 points earlier in the session. s&p up and down. see where it is as it fights for gains. melissa: basically flat. technically there is a red arrow there. connell: i'm fine calling it flat. down less than a point. nasdaq is lower. down for the second session in a row. down 15 points. happy monday, i'm connell mcshane.
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melissa: i'm melissa francis. this is "after the bell." first, here is what is new at this hour. president trump on his way to north carolina. the commander-in-chief will tour damage from hurricane dorian ahead after major campaign rally later tonight. we're live at the white house with breaking headlines and what the president told reporters before taking off. it was a lot by the way. boris johnson is expected to formally suspend parliament as a controversial resignation throws more uncertainty into the mix. the next step for brexit, the consequences for the new prime minister. and just days before she is due in court, felicity huffman is explaining her role in the college admissions scandal. the latest on the actress's defense and how much time prosecutors want to serve behind bars. connell: fox business team coverage. christina part on floor of new york stock exchange. blake burman at the white house. edward lawrence on capitol hill. hillary vaughn, we mentioned
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tech is outside of the supreme court where 50 attorneys general formally are launching an investigation into google's alleged antitrust practices. so hillary, let's start with you. reporter: connell, 48 state attorneys general and two territories launching their investigation officially on the steps of the supreme court this afternoon into google, trying to figure out if they crossed the line in their effort to crush their competition. the probe is start with a review on google as ad practices how consumer data feeds into their ad prominence. texas attorney general ken paxton leading the team says the faxes will lead where the facts will lead. >> that is what our investigation intends to uncover and reveal. whether google has played by the rules and act the fairly. there is a fine line sometimes betweening a agressive business practices and illegal ones. usually the line is very clear. again our investigation will determine whether google has
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crossed that line. reporter: this is not the first antitrust probe google has faced but it is the biggest. 50 strong bipartisan team of state watchdogs is a show of force for google. missouri attorney general ken schmidt telling me there is strength in numbers. >> ultimately that is the force and power of all attorneys general banding together to get answers. maybe sure everybody is held accountable. even biggest of big tech companies are held accountable. >> when 50 attorneys general come together, 50 attorney generals send a strong message to google. i'm not going to quote joe biden but i will tell you it's a big deal. reporter: the attorneys general would not rule out google would be the only company at their focus for the probe of antitrust violations of big tech firms. other companies could be next in line. connell. connell: hillary vaughn live at the supreme court. thanks, hillary. melissa: let's bring in today's panel. adam lashinsky, "fortune" editor, as he said many times is
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a google spouse. katherine rooney vera. thank you to both of you for joining us. how do you figure the whole thing for google, what does it mean for them and the other companies watching saying are we next? >> if you had to choose between scrutiny or not having scrutiny you would choose not to have scrutiny if you were one of these companies. i thought the comment by one of those attorneys general was very interesting he said we are just going to be driven by the facts. i believe him but that is not the whole story. what they're also going to find out are we going to change our approach to antitrust in the united states? because that's what it will take to prosecute google and these other companies. we're going to have to say, are we willing to expand our thinking beyond merely how does this affect consumers? melissa: that is the salient point is, is the really -- we think of monopoly and breakup being that there's a harm to consumers based on what is going on. do you see the harm to
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consumers? >> well it's a slippery slope, let's face it. if we start to bring back the breakup of no monopolies of banks, for conservatives you get fear factor of bernie sanders and glass-steagall. it is certainly a double-edged sword. in the case of unfair practices that is aligned with breaking up monopolies i think it does get into a slippery slope we have to watch out for. connell: let's get back to the market with the dow higher, the fourth straight up day we've seen for the dow. kristina partsinevelos following it all on the floor of the new york stock exchange. hey, kristina. reporter: you're right it is the fourth straight day. a lot of people talking football throughout the day. i wanted to mention, speaking with traders about the google probe. it is not a big deal. many companies will have cash in their wallets. they will be prepared for any type of probes or payouts that
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they need. you don't see the tech sector sell off that much. i want to focus on one particular stock, at&t. why? because elliot management says they increased their stake to $3.2 billion into the company. there are a few things this activist investor is pushing for. they want to see more value out of at&t. they are asking at&t to start selling off assets and returns have been disappointing. that is what elliot management said. they have questioned the deal with time warner. we know that at&t bought time warner to $85 billion. they're still trying to understand the value behind that. however the company is still optimistic that at&t's share price can increase to 60 bucks a share. right now, 36.79. still definitely well off. year-to-date though, at&t is up about over 25%. still a little bit lower than its all-time high back in the late 90s. i want to end on this, the company is still highly, highly levered. why elliot management put a
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focus on selling off, we don't know which one, focusing on certain assets to find value in the company. back to you that. >> is one to watch the at&t story. thanks, kristina. melissa: president trump speaking with reporters moments ago cancel meeting with taliban leaders at camp david. blake burman at it white house with more on that. blake? reporter: president trump on air force one heading to north carolina with special election. the state hit by hurricane dorian but the headlines out of the white house involve afghanistan. as the president says talks with taliban leaders for a potential peace deal with the taliban are quote, as he put it, dead. the president also revealed over the weekend that there was the potential for talks with taliban leaders at camp david on sunday but the president said he decided to scrap those talks after that attack in kabul on thursday in which a u.s. service member was killed. the president has received some
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bipartisan criticism for entertaining the idea of bringing taliban leaders to the united states and to camp david in the days leading up to 9/11, to potentially sit down and talk face-to-face. just a little while ago when leaving the white house the president was asked about that. he defended that possibility this way. listen. >> there have been plenty of so-called bad people brought up to camp david for meetings and the alternative was the white house. you wouldn't have been happy with that either. so camp david would have been a good place but i don't want to meet under circumstances where they go around to try to make themselves a little bit more important by killing a soldier. reporter: talks with the taliban are off but talks with north korea potentially could be back on as north korea said today, an official there saying that they are willing to sit down and once again talk about the nuclear program, its nuclear program at some point later this month. when the president was asked
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about that as he left the south lawn, melissa, he talked about the relationship, good relationship he has, as he sees it with kim jong-un. he said having meetings is always a good idea but the president also ended that by giving one of his trademark comment in which he said, quote, we'll see what happens. melissa. melissa: exactly. i never heard that before. blake, thank you. connell: meantime trading places, n.o.w. chatter today about the next round of trade talks between top u.s. and chinese officials. two u.s. senators are now revealing details to fox business about their recent trip over to china. edward lawrence live on capitol hill now with the latest. edward. reporter: connell, one of the things that steve mnuchin, the treasury secretary said they agreed on sort of layered dispute mechanism that mechanism is layered. they will have month any meetings at the staff level to work on disputes and quarterly meetings, and semiannual meetings again if it can't be resolved.
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with that tariffs would be on the issue. u.s. trade sources are saying there is no indication the chinese will put back in a trade deal all of the concessions they had removed according to u.s. trade representative robert lighthizer but there is still movement forward on some key issues. chinese sources telling us among those discussions will be laying out an aggressive plan to reduce the number of joint ventures in in some cases forces the transfer of technology. increases of foreign wholly owned enterprises. treasury secretary steve mnuchin says there is progress this month. >> they're coming here. i take that as a sign of good faith that they want to continue to negotiate and we're prepared to negotiate, if we can get a good deal, a deal good for us, we'll sign it. if not, the president is perfectly fine with continuing the tariffs which are raising significant amounts of money for the u.s. treasury. reporter: the chinese offering more stimulus for their economy. their central bank announced they will reduce reserves that
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other banks in china need to hold to sort of spark their lending there. china is not the only trade ball in the air. usmca, another big one for this administration, trying to push the house speaker into ratification this month. >> hopefully to get to the point where they are comfortable bringing this to the floor because i think if they do bring it to the floor i think it has the votes to pass. reporter: the u.s. administration would like the usmca to come up again this month but congress has one other deadline they have to deal with by october 1st. if they don't pass a series of spending bills, then again, connell, i will say it there could be a government shutdown. connell: speaking of, we'll see what happens. here we go again. edward, thank you, sir. back now to china for a moment. thousands of protesters hit the streets once again in hong kong. now they're asking president trump to quote, liberate the city from chinese rule. hong kong firing back warning the united states should stay out of its affairs.
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adam, katherine are back on this. adam, back to china for obvious reasons, with trade talks going on, hong kong, that situation has to be seen through that prism. should we expect anything more from this administration what it says what it does, with regard to hong kong, given the president trying to manage the china trade discussion at the same time? >> well, the protesters are being clever in baiting both beijing and washington. no administration is going to support a statement of liberating hong kong from china but every administration should support democracy. president trump has been playing this one pretty well so far saying he will not get involved in their internal affairs while once or twice saying helpful things about democracy. connell: seems, katherine, what the protesters want him to do now, to used a dam's term, they are baiting both sides. what they're calling for would be sanctions to be imposed on people in either hong kong or china, who are, not promoting
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democracy for lack of a better way of saying it. any chance we would see something like that? i go back to how that would affect again the trade talks with china? >> that is definitely not going to happen, but what i will say from the chinese perspective this is big incentive for the chinese to get to some deal with trump. i always contended this. they are aligned on both sides. for president trump they are aligned. he needs a win before next year's election. it is very good for him improving fair trade. connell: all right. >> on the chinese front, hey you have china decelerating in a massive way. this only exacerbates that. the last thing they want to see is hong kong tensions spill over into mainland china. connell: katherine, adam, thanks to you both. appreciate it. >> thank you. >> the dmv isn't just stealing your time. a new investigation revealing it is selling your personal data, making a huge profit. connell: well, good. melissa: perfect. the shocking details coming up later this hour. they're making things faster for
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people. using things to make things work better? connell: no doubt. we'll ask boris johnson. this message across the bond, he would rather be at the dmv. british prime minister suspending parliament a string of losses in parliament. he is sticking to the pledge to get out of the e.u. by the end of october. dan henninger from the "the wall street journal" will help us through all the options. melissa: new york city bill de blasio proposing robot tax. you remember that as automation comes across on certain industries. people are concerned about the future of work, not this moron here. i can't help it. we have people actually out there working, fixing problems. connell: i can't help it. ♪ and get your interest rate right. so you can save big. get a no-fee personal loan up to $100k.
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melissa: breaking news right now. lynn swann is out at athletic director at the university of southern california. this according to multiple reports right now. swan submitting his resignation by an email sent out by usc president carol pulls. no word what inspired the rhett ignition. he has been under fire concerning the college
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admissions scandal. connell: a great player in his day. boris johnson telling the irish prime minister that a deal can be done. most recently the british parliament passing a law to rule out a no deal brexit. the house of commons speaker, the core lull, john berkow, announce he is stepping down from the job after a decade as the speaker. here he is. >> order! order! order! it is order. order. order! order! order! it is evident from the smile on the face of the honourable gentleman that he is very pleased with the point that he has made. [laughter]. connell: should be. now as of the 31st of october there will really be no order. dan henninger from "the wall street journal." i for one will miss mr. bercow i
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will miss him. how do we even handicap this now? boris johnson had a spring of losses. any odds he actually gets a deal before the 31st with europe? >> well, i wouldn't rule it out europe has some interest in this as well. it isn't nothing if britain pulls away completely. continental europe has enormous economic interest doing business trading with the uk. so i think it's a possibility but it is becoming extraordinarily remote and the question now is, whether or, when the brits are going to hold another election? i honestly, connell, think that is the ace in the hole that boris johnson is holding on this because remember what we're talking about brexit that was a referendum back in 2016. now what we have ahead of us is a possibility of a real election for prime minister built around
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the sole issue of brexit. and i think the possibility exists that boris johnson would win that election and probably win it with a lot of votes from the labour party because a labourites in fact support brexit. last time around, overwhelming, strong majority of the 650 constituencies in the uk voted for brexit. it is interesting, boris johnson said is, what an extraordinary paradox all these opponents of his do not want to hold an election. connell: if he does somehow bring that election to fruition, to your point, ends up winning it, expands on, builds a new majority, has the votes, should we look at likelihood after no-deal brexit more likely or is he able to cut the type of deal that he wants to cut? in other words, there is some sort of an agreement put in place before europe leaves? >> yeah, well the no deal is
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built around october 31st. they passed a law that wants an extension beyond that point. i don't think there is much possibility that prime minister johnson is going to ignore that law. he made it pretty clear, i think, that he is going to abide by that. so they are going to slip past that date. possibly have an election by november 20th. parliament would have to hold it. they have the campaign for 25 days. i think is at that point we're going to actually have a reboot, facing the possibility of an election, the possibility of another mandate for brexit. this will focus, i think the continental europeans reality what is going on there. connell: but as a quick final point, dan, are you convinced boris johnson will be the prime minister as of 31st of october? to your point he ran on, ran or, assumed leadership of the party on this promise of getting out hell or high water by that point and not asking for an extension. so any chance you know is out, this way he doesn't have to ask? >> no, i don't think so.
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i think what is going on with boris johnson is very interesting. he tied himself to the idea of brexit. it is almost trumpian commitment. he is abandoning the elites in the cities. he is sort of surrounding himself with the idea that there is a referendum, there is a base, shall we say, for brexit in the united kingdom. it doesn't get much attention in the coverage but i think he is counting on the fact that he has the majority of the british people behind them, one way or another he will find his way to that mandate. connell: we'll see you on another topic later in the hour. thanks, dan henninger. melissa: he has wedded himself. that is the best way to say it. he bound himself to that. we'll see what happens. very interesting. controversy surrounding british airways, what you need to know before heading the to the airport no. >> many are still searching for loved ones in the bahamas, a fuel week after hurricane dorian touched down. how residents in completely
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connell: more breaking news. we just learned the u.s. coast guard rescued the third of four survivors left aboard the golden ray, that cargo ship that capsized off the coast of georgia yesterday. operations are ongoing to rescue the fourth crew member already located but not yet extracted. melissa. melissa: rescue and relief efforts are underway in the bahamas one day after hurricane dorian wrecked the island leaving at least 44 dead. we know it will be much bigger number than that destroying hundreds of homes. fox news's steve care began is following the story on the ground. steve? reporter: here in freeport, anyone who can get out is making effort to get out either by boat or plane. lining up for hours, sometimes days at a time, trying to get all the necessary documents to get out of here. for those who can't leave, they're too sick, too weak,
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don't have the means, sometimes medical aid is coming to them and it is very slow in coming. here is what it looks like. the only way to reach critical patients in some parts of the bahamas is by plane one at a time. >> we are working on restoration. reporter: in places where emergency rooms and supplies were destroyed by the storm, evacuation is the only option. >> the local hospitals especially in the marsh harbor area can't handle any patients right now acutely. we're evacking them all out. pregnant women four months pregnant and bleeding not a lot i can do for them here, we're getting them out. reporter: stroke victims, pregnancies, this woman needs a cardiac procedure. >> ekg showed a right bundle, no segmentation. reporter: a driver paid for taxi services three gas cans and generator for his services. so far the volunteers have flown out 45 people.
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one week after the storm is in, then you can see for yourself destruction pretty much sits exactly as it was when the rain stopped. you get no sense of power trucks, phone lines, roads being cleared, sniffer dogs, bodies picked up, no, pretty much a standstill. people who can leave are leaving. back to you. melissa: it is amazing, given weight of the cargo, boats nearby, you are taking people out almost one at a time. that is really tough, steve. thank you. connell: all right. british airways canceling almost all of its flights today and tomorrow after its pilots just walked out in one of the largest-ever strikes over pay and benefits. more than 200,000 passengers expected to fly over the two days. another walkout is planned for friday, september 27th. melissa: the scandal that is still rocking the nation. actress felicity huffman explaining her side of the college admissions scam.
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what her emotional letter could mean for her potential future behind bars and the remaining cheating elites. connell: plus investing in basketball. the nba with a possible plan that would, could expand the buyer pool. then we'll tell you how the public can get in on the action. maybe buy part of the team. melissa: back at the helm, legendary "jeopardy" host alex trebek is returning to "the quiz show" tonight as it kicks off-season 36. 36. just five months after being diagnosed with stage four pancreatic cancer, trebek telling fans he is in good spirits and ready to take to the stage. ♪ when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. [upbeat♪action music]
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i wish i could shake your hand. granted. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ connell: breaking her silence felicity huffman giving her details on her side of the college admissions scandal, sending a letter to the judge just days before sentencing. fox news's molly line in boston with more. molly? reporter: on friday, felicity huffman will head to court. she will face her faith. she is the first paint to be sentenced in the college admissions scandal. the new documents give us a little bit of insight what felicity huffman is thinking. she remains on trite, apologizing for her actions. her lawyers painted a broader picture after desperate mother trying to do her best for a struggling daughter, slowly drawn into the mastermind's
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illegal plan, receiving legitimate tutoring first before rick singer suggests paying a talented test taker to correct huffman's daughter s.a.t. exam. ultimately huffman pays $15,000 through singer's phony foundation. court papers show her on going expressions of shame and regret, in a letter to the court, huffman writes, in desperation to be a food mother, i talked myself believing all i was doing was giving my daughter a fair shot. i see a irony in that statement because what i have done is the opposite of fair. prosecutors paint a different picture. fell lyssie huffman is sophisticated business person. they argue that her cheating was deliberate and knows, quote, her efforts were not driven by need or desperation by sense of entitlement or moral cluelessness driven by wealth and insularity. they argue neither probation, confinement in home with
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hollywood hills with infiniti pool would constitute meaningful punishment to deter others from similar crimes. the government is spending that huffman spend a month in prison and probation, a fine, her lawyers respectfully questioning a years probation and community service. more than a dozen people would i note wrote letters on behalf of huffman honk them. eva longoria, former classmate from "desperate housewives" as well as huffman's husband, fellow actor, william h. macy. connell? connell: that is the least he could do. melissa: seriously. connell: moral cluelessness and response. thanks. melissa. melissa: dan henninger from "the wall street journal" he is also a wall street contributor. you're not a lawyer but we've all been following the story closely. do you think they will send her to jail? >> i rather doubt it. i think the prosecutors had the best part of that argument in terms of moral cluelessness but i suspect she is going to get a suspended sentence and she is going to have to live with the rest of, for the rest of her
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life out there in hollywood hills among her friends with a essentially an asterisk next to her name. melissa, sort of like the home run hitters in baseball using steroids. one way or another, no matter how good they were, how talented they were they have to live the rest of their lives with everybody understanding that they cheated. all of her friends out there will be looking at her, she will be wondering are they looking at me thinking i cheated? the answer is yes, they will. melissa: although they probably all were tempted to do the same thing or many of them did. i don't know in her crowd moral superiority is number one on the list of attributes. i, her husband said she received no job offers or auditions since her arrest. i wondered though, everybody loves a comeback, there is that love when somebody gets their comeuppance. do you think once this is all clear she won't work again?
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>> i think eventually she will. it may take a while. there is not, everybody games this college admissions thing as really difficult. everybody tries to game the system one way or another. they don't go as far as she did to literally bribe your way into an institution. melissa: yeah. >> i have a recommendation for that judge in boston. i think that the 250 years of, 250 hours of community service, 250 years might not be a bad idea, that she ought to serve those 250 hours in a charter school in los angeles, working with kids who would be only too happy to get into any institution of higher learning not into usc or to stanford. let her see what it is like for children who are really struggling to get into college. melissa: my biggest question, i don't know if you know the answer, here it is fall, everybody getting ready to apply to college and everything else again. do you really think things changed at the various schools. sc is one thing.
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when you look at yale, some other institutions caught up in this, i don't know. do you think that, do you think that everyone has really changed their ways and are more aware? >> i don't think there are too many bribes going on. no, i think the system is as bad as it ever was. one of the big messages coming out of this incident just how psychologically destructive the college admissions process has become, not just with parents but high school students as well who turn themselves inside out trying to get into the stanfords and georgetowns of the world when there are hundreds of good colleges they could get into, turning themselves into the kind of monsters these people did to try to get into the elite schools. it's a terrible, terrible process. melissa: really is. dan henninger, thank you. connell: cashing in on your personal data. how about this, the dmv -- melissa: what? connell: using your private information for millions of dollars in profit. we'll have the details on a bombshell investigation. tell you which state is most at
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risk. melissa: see i'm surprised they're organized enough to do that. connell: bill de blasio? melissa: no, the dmv. how could they be organize enough to profit off anything? connell: we'll find out. the growing fear about automated or our automated future, mayor bill, mayor bill de blasio, he has a plan. we'll talk about how he expects to save american jobs from the tech takeover and also how some industries are fighting back maybe with better ideas. that is coming up. >> our tax dollars are helping companies incentivizing companies to, get rid of more and more american workers. so my plan is simple. end that. talking about hundreds of billions of dollars that we could use to actually address our bigger issues. ♪ ♪ ♪ award winning design. ♪ ♪
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connell: so your privacy at risk, again. new details reveal various departments of motor vehicles around the country have been selling your data, doing so for millions of dollars. grady trimble covers this, from a dmv out in wisconsin. grady? reporter: hey, connell, if you needed another reason to stay away from the dmv, this might be it. according to a report in vice news they're selling all sorts of data and making big bucks off
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of it. they report out in the report, none of the dmvs sell driver's license photos or social security numbers but they are selling all sorts of other personal information. things like your address, your date of bit, even vehicle information and the people who are buying this information might be what is most concerning. it is private investigators for one, insurance companies, towing companies, if they need to find to you repossess a vehicle, for example, and even banks. we've been talking to people here at this dmv in wisconsin all day long and we got mixed reaction. some people are extremely surprised and concerned this is going on. meanwhile others say, well this generates revenue. so that could actually reduce my taxes. they say, hey, i got nothing to hide anyway. >> no, the reason it doesn't concern me is there would be no reason for anyone to be looking for me. that's the main reason. you know, so, i have nothing to hide. so i don't think it is right selling people's information,
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you know but once again i have nothing to hide so, no big deal. reporter: at dmvs across the country are making tens of millions of dollars selling this information. wisconsin, according to the report where we are, $17 million generated in one year. south carolina and florida generating even more. the sunshine state racking in $77 million. we should point out that all of this is actually legal. there was a law passed back in the '90s and its intent was to restrict access for certain people but there are a lot of exemptions including as i mentioned private investigators. there are a lot of lawmakers who are calling on congress now to close the loopholes to stop this from happening but i also want to mention there are some legitimate uses that might help people. for one, if an automaker wants to find where a car owner is to issue a recall. that could be legitimate.
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the rest is concerning for some people. connell: one thing while you're still on camera, please move quickly as you can. i saw reverse lights on pickup truck go on. true story. a 17-year-old was just issued his license. good job out of you. melissa: there you go. good thinking. good thinking. connell: melissa. melissa: fear of a robot planet. ohio democratic senator sherrod brown introducing legislation this week he says aimed at combating automation of american workers t would call employers to repay workers and pay severance when jobs are eliminated by technology. brown's plan follows new york city mayor and candidate, bill de blasio, automation plan, which includes a robot tax, eliminating jobs because of automation. is government intervention the best option? let's bring in bill darcy. the national baths and kitchen
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ceo. when i heard bill de blasio talking about the robot tax, all i could think boy is he pedaling in the wrong direction. companies experiencing automation. they don't have enough workers as it is. they want to find workers with new talents they need. they're trying to get the benefit of automation to lower prices to have better products. by fining those companies it is sane. you guys are out there trying to figure out how to attract and train talent for the new jobs, right? how are you guys doing that? how big of a problem is it? auto -- automation is great but we're focusing on young people, giving them understanding all the careers in our industry, software design, retail engineering, manufacturing, work with your hands, don't work with your hands, we have a ton of jobs in the design and construction space. melissa: you always need people. that is what amazing. talking about eliminating jobs and there are no jobs and the
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reality is there are a ton of jobs that are empty. they just need people with the right training and with the advent of robots what they need people to do is different. one thing i heard a lot of industry leaders say, training has to be a highway, you get on, you learn, you get off, work for a while. you go back to retrain. that is what it will be like from here going forward. you have to stay current on all of your skills no matter what part of the industry you're in. does that mean companies have to invest in education rather than going to college or going to trade schools affiliated with, what does that look like? help me out. >> we're head of that. our members already do a lot of training. we're obviously a training institution, teaching people to help them grow in their industry but the youth focus is newer thing, focus how do you get young folks exposed to all the
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great jobs. we're working with program called next bridge year, complimenting our next up program. really where you get true hands on training, giving young people what it is like to be an electrician or plumber or many other jobs in our industry. melissa: or design. maybe you're an artist. so you draw the plans for something fabulous. whatever it is you want to do. also that idea, i hear now the idea is you have to engage kids in middle school. it is not even about high school anymore. it is about letting them know what the world will look like and future of jobs, when they're in middle school. is that the right age or too early? >> i don't think it is too early. we have a pilot program in middle school. start a pathway towards college or not college. i don't think you can get started too young. middle school is perfect age. >> irony they want to tax and punish businesses. the companies are saying, local
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school districts, what are you doing to help us to find workers. they are blaming you, a lot of ways it is the education system as the problem. last word, bill. >> next up for nkba, the core, we're focusing on the youth. if everybody gives young people the opportunity to expose their industries the trade would be better off. melissa: thank you. >> thank you. connell: being more than just a fan of the game, the nba is weighing possibility of creating an investment fund, meaning you could be at home to buy part of the team. what it could mean for the future of your favorite franchise. how you could get in on the action. we'll break that down next. ♪ but in a world full of talking, shouldn't somebody be listening? so. let's talk. we are edward jones. with one financial advisor per office,
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we're built for hearing what's important to you. one to one. edward jones. it's time for investing to feel individual.
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you'll see what a fair price is and you can connect with a truecar certified dealer. now you're even smarter. this is truecar. connell: all right. maybe you always wanted to own a professional basketball team but don't have the cash to do it. not many people do. now there actually might be a way. there's a new report that says the nba is considering an investment fund that would allow people to buy small equity stakes in a portfolio of teams.
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here to talk about it is mike murphy, rosecliff founder, managing partner. always looking for a good investment. how about the knicks? something you would be interested in, in all seriousness in sports teams have turned out to be great investments for a lot of people. >> they have been great investments. i would love to. i think there are a lot of people who would like to own a piece of their favorite franchise. remember, price tags are very high. there would have to be some sort of vehicle structured where the individual investor could get in. historically they have been great investments. connell: $300 million to $4 billion, lakers, $3.7 billion. that's what we would say is a good investment. we are talking about basketball because that's what this report talks about. is one sport maybe a better investment than another? are all these teams pretty good? >> i think for sure, one sport and that sport right now would be the nba. football has the injury concerns around it. baseball's having a hard time reaching out to the younger generation. but the nba, i can speak
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first-hand, my young sons, nba is hot right now. they are marketing it correctly to the younger generation across all different economic classes, all different races follow the sport. if i could get into buying a team i would look at the nba. connell: you think about it, after jordan retired the league had some struggles but it's really been on fire. you look at the top five nba, we don't have to get into it, you don't have to be -- have a top performer on the court to be worth a lot of money is what that number one spot tells you. the new york knicks at $4 billion. but you know, they make people a lot of money and i wonder if this will actually happen, if it will come off the ground. >> i think it may. the real reason is a lot of people who are just, who only have access to mutual funds or the stock market are seeing private investments like venture capital private equity that are doing extremely well, now they are starting to think if there was a way for me to do that, i would love to do it. it's a great investment. maybe it's a great investment for the little people as well as
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the big people. connell: you're right about the nba versus other leagues, i think, too. maybe international soccer. i have seen compared a lot of value there. give us what team you would buy as an investment. >> i would buy the knicks and put a winner on there and take the $4 billion to $8 billion with a good team. connell: you would probably coach them while you're at it. good to see you. thanks, mike murphy. melissa: the fight against breast cancer, our fox family joining forces in central park yesterday to support gerri willis in the komen new york city race for the cure. the fox team raising nearly $40,000 for the cause, putting us in the top five fund-raising donors this year. we were all very proud to be on team gerri. connell: that was a good day. melissa: it was. the weather was fantastic. a lot of viewers came out which was fun. we had said where we were going to be and everything. my kids were out there. we had our team leader, along
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with her fabulous dog. there we go. right there in the middle. good stuff. connell: thanks for joining us. melissa: that does it for us. connell: "bulls & bears" starts right now. the dow ending in the green today, inching closer to new record highs and experiencing its longest winning streak since july. the president talking to reporters this afternoon, relatively optimistic we could see more record highs very very soon. he also took the chance to lash out at the media's recent obsession about recession. this is "bulls & bears." i'm kristina partsinevelos. joining me on today's panel, jonathan hoenig, robert wolf, gary kaltbaum and steve moore, you know, the usuals. here's what the president, though, had to say before heading to north carolina for a rally tonight. listen in. >> just so you understand, our country is doing phenomenally well. kn

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