posts is backing out of the event, saying there is an issue with permits. melissa: you think? my son wants to go. now it is really not happening. you are not going. connell: bulls & bears starts now. >> we have a huge morning planned for you with some truly big announcements. >> apple kicking off its biggest media event of the year unveiling a slew of new products across the board including new iphones and the highly-anticipated video streaming service that sent shares of disney and netflix tumbling. will consumers be satisfied? we have a live report coming up. this is bulls & bears. i'm kristina partsinevelos. joining me is john layfield, liz clayman, carol ross and jackie.

let's go to susan lee who is outside the apple event. you have been there all afternoon what are some of the big take aways for us? >> well, i can tell you that apple has a big array of services hardware and software coming our way. let's start off with tim cook taking the stage today to present to us a lot of new -- new goods when it comes to tech and shocking the market in technology and media by telling us when the apple tv plus service is come, which is november 1st. -- tv plus service is coming, which is november 1st. so much cheaper than anticipated, 4.99 a month, that's cheaper than disney plus later on released this year, 6.99. and netflix's popular package coming in at $12.99 a month. you get the streaming service for free if you buy an iphone, ipad or mac. that hurt shares of netflix disney and roku.

they launched a new streaming service as well. it still is all about the hardware. the iphone 11, the base price here is $700. you get a pro which comes in at a thousand dollars. a pro max for $100 more. what's special about the new iphone? you get triple cameras, when it comes to video and shooting. three lenses of wide, photo and extra wide. it's been exciting. also the ipad, i can't keep everything they have announced but it will be a busy christmas season for them. back to you. >> thanks. our guest is joining us now. we need to talk about the share price disney, netflix, roku all dropping after apple announced details of its apple tv plus. do you think it will dominate this place, in your opinion? >> no. no, i don't.

i think that that business has surprisingly few barriers to entry, and that in the long run, all the dollars are going to flow to the talent. it is a good time to be a hollywood writer. it is a good time to be an actor or somebody who can deliver reliable product. there are not barriers to entry in that space as you used to see. media economics used to flow from captive distribution, and in the streaming business, there isn't any of it. so it is not really a very good business. it is bad news because as big deep pocketed entrants come in, it means they will compete on price and on dollars out to artists. it is not good financial news for them. by the way, as you watched apple stock price today, it is not good financial news for amle either -- apple either. >> on these event rollout days, apple stock never really spikes. it is when you start to see the rush, when the things go for sale. let's talk about some of the hardware and some of the other services.

they talked about arcade, the gaming tab they have. i personally like they are bringing back frogger which is more our era, i think. [laughter] >> give me a sense of what spiked your interest in all of the issues that were rolled out today by tim cook and company. >> i will tell you what spiked my interest, i have gone from being what i would call a begrudging admirer who is not always, you know, not a big fan of the company's technology, but a huge fan of the way that they've -- of just them as a great american company, to increasingly thinking that we're seeing something of a corporate village. if you watched that presentation today, and i got to watch most of it, it was a huge amount of flashy videos and very little product substance. so you're seeing these tiny incremental changes. if i said to you guys hey when was the last time you remember a really exciting microsoft product roll out? and the answer is wow, it's been like a decade since they move a needle with anything. that's what's starting to happen

like they've done the big innovations. now they are trying to play around a very crowded, very competitive services field, and they're making little incremental changes that i don't think are going to move the needle with consumers. i don't think -- it appears to me that they are following a very long-standing cycle in the technology industry, where, you know, what happened to -- what's happening to apple is what happened to microsoft. what happened to microsoft is what happened to ibm before it. and i don't think that's -- that's not a place i would want to be as an investor. >> to kristina's point earlier, my wife is an icon on wall street, i'm used to being in conversations with women who are smarter than me. on this show i'm very comfortable with all the intelligent ladies out there. it feels like home to me. [laughter] >>i want to ask you a question about apple. agree with you, i don't think they will be able to compete with house of cards or disney's content, but they can buy

something, nfl rights, espn increased their subscriber base when they had the pay-per-view earlier this year, all for espn plus, that to me where apple can move. full disclosure i'm an apple shareholder because of the services business. they have 1.3 billion people that have apple devices around the world. is this enough? do you think this is where they will go to get into live sports? >> oh i think -- i don't know about the live sports piece. they've definitely got the cash to do anything they want to and to be a big player in it. but that's sort of not the point. the point is if it's going to be competitive. it is not like they are competing against little guys. they are competing against disney, netflix, and so the question becomes what do they have to pay to be competitive? as you pointed out they could buy rights, and yes, they could, but can they make money? or does that game -- it's a competitive business in a way that television when it was just three networks wasn't because

nothing stopping the next entrant from rolling into that business either and bidding up the price for talent oar for rights even further. >> dave, i'm really excited about the fact that they have got three cameras because if we haven't had enough of anything, it's people taking selfies. so i'm really glad that we're going to get bunch more people taking selfies in slow-mo and everything. back to the services piece, it seems to me they haven't really penetrated what they can do with this huge ecosystem. i mean, they're basically falling back on things like streaming and gaming, but this ecosystem has so much more value to potential advertisers to provide discounts and do all these different things. are you as diggs appointed -- disappointed as i am with their approach to the services business? >> i think it is like it was the news business and everything that is the internet, google and craigs list and ebay, all of

that was the newspaper industry's for the taking, and they fumbled it away. you could argue as you just very effectively did, that there is this, you know, valuable ecosystem to be had or maybe it was to be had, but apple didn't make the play for it at the time, and could apple be netflix right now? probably, but they aren't. and now they're coming from sort of a weak sister third position. certain advantages sitting underneath that they can play to, but, you know, would i make that -- would i bet on them to be a winner in that? on what basis? where have they shown they are the titan of services? i don't think they have. >> can we talk hand sets for a second? iphone 11, entry price $699 says to me that apple is feeling some pressure, some competition to bring in that lower hand set, lower priced hand set into the marketplace and that troubles me. what do you think of it? >> i think that's right. i mean, you know, again, it just

goes back to there's an increasing level of commoditization of technology. i mean, it feels to me like we have reached a point with hand sets that we were at with personal computers, maybe 2007 or something? where the next thing comes out it is like that's nice, but you know what? i think i will wait till my hard drive dies before i do that. on this one i think it is i will wait till i drop it in the toilet, you know. it is not like oh my god give me that third lens. >> okay, thank you dave maney, the no longer begrudging admirer of apple. thanks for joining us. >> thank you. shares of chipotle dropping r more than 6% on news of new york city lawsuit against the company. mayor de blasio will join us on set in a fox business exclusive to talk about his beef with the restaurant chain. mixing this week's democratic presidential debate and much much more. plus john bolton is out.

president trump firing his national security advisor this afternoon. we will discuss the details and the fallout with national security expert james carafano, next. >> the president is entitled to the staff that hit wants at any moment. a staff person that works directly for the president of the united states and he should have people he trusts and values and whose efforts and judgments benefit him in delivering american foreign policy. i know that every single time that i suit up, there is a chance that's the last time. 300 miles per hour, that's where i feel normal. i might be crazy but i'm not stupid. having an annuity tells me retirement is protected. annuities can provide protected income for life. learn more at retireyourrisk.org

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but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. a big shakeup at the white house today. president trump tweeting this, i informed john bolton last night that his services are no longer needed at the white house. i disagreed strongly with many of his suggestions, as did others in the administration. and therefore, i asked for his resignation. now, bolton claims that he offered to resign last night, but trump told him to wait until today. now joining the panel is the

heritage foundation's national security expert james carafano. great to see you. what do you make of what happened today? he was supposed to show up at the press conference. he didn't. it almost seems like mnuchin and pompeo were gloating a little bit about this resignation. your thoughts? >> i'm broken up. i feel like there's been a split. [laughter] >> when trump hired bolton, they both knew they had different goals in foreign policy, but the reality is, as maybe as kind of a hate-love relationship that was, they did a lot of really great foreign policy over the year and bolton helped trump move the ball down the field. if you look at being tough on iran, embracing boris johnson on pushing for brexit, a number of issues where bolton really helped move america first foreign policy down the field. i understand why they feel it doesn't work anymore, but they did some good things in the time they had together.

i'm going to wait for the album. [laughter] >> jim, it is carol ross. we're hearing some rumblings that ambassador rick grinell might be one of the names that's being floated in consideration. can you walk us through some of the top names and what they might bring to the position? >> yeah, honestly i think it is speculation. people have been tossing out names for months as they have watched this kind of dance between pompeo and bolton and trump. i don't know what to put on any of that. if you look at the chronology and sequence, i don't think trump has started thinking seriously about this till about 11:00 this afternoon. i imagine trump will do what he's done in the past on these things, which he will call a number of people he trusts. he will call jack keane. we've already heard now calls hr mcmaster's his former national advisor and others, he will ask for people's input. number one he wants somebody that he's comfortable with, not a yes person who just says do what i say, but, you know, somebody that he likes working

with because they spend a lot of time together. it is a high pressure situation. but he also wants somebody that will deliver and be effective. we will see where he goes on that. >> you mentioned mcmaster, flynn in the mix, and acting director kellogg in between, bolton, three official guys in three years. who is in charge now? what kind of message is this sending abroad? your reactions are amazing. >> that's an easy question. you know, donald trump has always been the decider in chief and it's always been donald trump's foreign policy. if you look at that, you know, we talk about the actions of adults. things are only okay and they are not falling off the rails because we have mcmaster and we have maddis and john kelly and of course they are gone and the policies are still the same. the president is the decider in chief. reagan had a very chaotic -- including one of having the iran

contra scandal, he plowed through a lot of national security advisors and it was a fairly chaotic process. we remember reagan for brilliant arms control victories and really managing the cold war really well. focus on the outcomes not the process. >> thank you very much for that jim. meantime staunch trump critic and liberal billionaire george soros now giving the president some rare praise. what he says is the president's greatest achievement now. should other democrats give him credit as well? with sofi, get your credit cards right- by consolidating your credit card debt into one monthly payment. and get your interest rate right. so you can save big. get a no-fee personal loan up to $100k. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

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trump's china policy, writing in the "wall street journal" op-ed today the greatest and perhaps only foreign policy accomplishment of the trump administration has been the development of a coherent and genuinely bipartisan policy towards xi jinping's china. jackie, is all of this proof of the president's tough stance on china is working? >> well, i think the soros op-ed is certainly an endorsement in terms of what the president has don't with trade here. a lot of people don't want to acknowledge that it's had an impact on china and certainly they are coming to the table now. it seems like they were squirming a little bit. when you look at the stock market, it really genuinely does believe that there's possibility to form a framework of a deal here and that it possibly could come, you know, before the end of the year, that these conversations that are taking place are good. at the same time, on the flip side of that, when the market then expects something, if you don't deliver it, you raise those stakes, and the market doesn't get it, the down side could be very sharp as well. >> carol, i'm sitting here

thinking george soros is complimenting president trump? has the earth stopped rotating on its axis here? [laughter] >> the point is i think he was very specific. george soros says that he feels it is very important to keep a thumb on huawei, the technology and telecom giant because of the spying that is allegedly happening with the equipment that huawei sells to the u.s. however, he also made it very clear he really hopes the president trump doesn't use it as a bargaining chip and then give huawei a break. that is something that you really have to look at. huawei is either a national security threat or it is not. that is completely separate from using it as a bargaining chip in any kind of trade talks. so in a way, he's almost setting the president up and saying you know if you go easy on them like you did on zte which last year the president lifted any problems then you might have a problem. >> that's the best point about this, it is very specific. this is hardly an endorsement of

president trump's foreign si policy what whatsoever. china has been hurting. they have been front loading the gpd to get ahead of the tariffs. it is going to get worse. if you look at what's going on in the united states, this has been going on for 18 months, every month we hear we're going get a trade deal. we have had the opposite effects. we have become more isolated. manufactured activity has been down for two straight quarters which is a manufacturing recession going on our country. our farmers have been bailed out for 28 billion dollars. i think it is tough to say we are winning this trade war. right now president trump is in danger of going down as herbert hoover. he wants to go down as andrew jackson. >> maybe many companies have been overreliant on china, google being an example, the fact they are moving their pixel smart phone manufacturing to vietnam, maybe we could see more of this.

on the flip side, china is doing the same thing with us, soybeans and semiconductor etc. >> certainly a lot more to come. now new york city is turning up the heat on chipotle. mayor bill de blasio will be here in a fox business exclusive to tell us why his city is suing the restaurant chain. why companies should pay a robot tax and the future of his campaign after he misses this week's democratic debate. all of that next. what a time to be alive. the world is customized to you. built for you. so why isn't it all about you, when it comes to your money? so. what's on your mind? we are edward jones, a 97-year-old firm built for right now. with one financial advisor per office, we're all about knowing what's important to you the one who matters. edward jones. it's time for investing to feel individual.

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liz: chipotle in the crosshairs. new york city today slapped the restaurant chain with a lawsuit accusing chipotle of violating the city's fair work week laws. new york city looking for a million dollars in restitution plus penalties. shares of chipotle got slammed on this news closing down more than 6%. new york city mayor bill de blasio joining us now here in studio in a fox business exclusive. thank you for coming on. >> thank you. liz: this is an important business story. we as a business network are very much focused on this. let's talk about some accusations you say chipotle failed to give estimate work schedules two weeks in advance, couple of other issues saying you can't change schedules l.a. minute. -- last minute. as we look at this as a business network, the stock got slammed on this. why not just work directly with chipotle before making a formal complaint and hurting what could be the restaurant chain and their hiring abilities? >> look, this is based on a law

that was passed that was well publicized. we had a grace period for companies to get to understand out and act on it. when you have a company of that size, that's been -- had the rules explained so clearly. we believe that working people need to be respected. folks need to be able to plan their lives, their family's lives. one of the issues and you see it from some of the workers who have spoken up and filed the complaints is you have to take your kid to the doctor, if you have things in your life that actually have to schedule in advance, you need the ability to have some sense of when you're working or not working. that's what the law is all about, creating a little more dignity, more decency in working people's lives. these are not new rules. they were well publicized. we're making it clear that chipotle has to follow these rules and based on a number of employee complaints and there's a lot more where that came from. >> john layfield here, pleasure to have you on the show. >> thank you. >> thank you, sir. i want to switch gears to the $15 minimum wage that you have

been pushing. i want to ask why that number, sir. i think most people agree that the minimum wage is too low. i think it is hard for a national wage -- biloxi mississippi to have the same wage as silicon valley. why $15? why is it not say $20? and why it is not 10.10 which president obama pushed at one time? is there an economic rationale besides that other than it is an arbitrary number that sounds good in a campaign? why is it not 12 or 18? why do you think the number is stuck at 15 and why you think it is important? >> very fair question. i think one thing we need to get clear is a legitimate minimum on someone being able to live on and take care of family on. i think that notion of what minimum wage has gotten lost in our history. a lot of this country, certainly metropolitan areas all over this country $15 is that reality. an annual income, at least a decent beginning for folks. i would say this as a democrat, as a progressive, i don't aspire

to a nation of folks just making minimum wage, but i think the word minimum should mean something. in a lot of america that's $15 right now. i think there's fair to say there's other parts of america where the cost of living is a lot less. legitimate to talk about how you phase things in, but look, we also should recognize that whatever gets set in the future, there needs to be that automatic provision that it moves with inflation. so we don't what we've had for the last years which is minimum wage became outmoted a long time and no action was taken. there's nowhere in america where you can live on the federal minimum wage today. >> it is carol ross, nice to see you again. i understand wanting to be an advocate for the workers, but obviously it is important to be part ners with businesses because if businesses don't continue to open up, then the workers have no problems. so why not take a stance that is more friendly to partnering with the businesses and work all together instead of making this just the government interfering in business and markets? >> i actually think the things

we're talking about can work very well for the business community. we've had a lot of evidence here. you know, we went up to the $15 minimum wage. the number of jobs in the city continues to grow because this is something that's very clear. when people have more money in their pockets, they spend it and that grows the economy. we had the same experience with paid sick leave. that's a law here too. we found what happened was workers ended up being healthier and it added to the desire to stay at a company, stay at a store, longer because people's quality of life was better. i think there's a central issue here. this is certainly true on the issue of automation that i care so much about as well, that we have to stop inadvertently rewarding the wrong kind of activities by companies. if we have tax codes that, for example, encourage laying off workers and automating a company, that's a federal policy that's actually hurting the company and hurting workers both in many ways. but i think these policies that are about making working

people's lives more decent, a better quality life, a better family life, actually create a better society and they can be done in a way that's very consistent with the needs of businesses, particularly small businesses. liz: of course we agree workers absolutely deserve respectful you just mentioned automation. you are talking about a tax on companies that go robotic. some of these companies would argue that because the minimum wage was raised high enough, they have turned to robotics and now you go to home depot. you go to mcdonald's. you go to some of the fast-food areas. you go to duane reed and already it's self-check out because of this onerous attempt to regulate and really press on businesses. do you worry that you're looking like you're antibusiness and these people will be left without jobs overall? >> no, i'm not antibusiness. i'm pro worker. i think what's happened to american working people, tens of millions of working class, middle class people, their quality of life is not very good.

their economic prospects are not so strong. a lot of middle class people in america right now do not feel the security you and i used to know that came with the word middle class. there's tremendous insecurity and fear out there. folks are worried about losing their jobs, being displaced by machines and never having a career again. liz: but the evolution is such that it almost sounds like you're going to force people to stay on typewriters when pcs have been available. >> no, absolutely not. look, right now one of the biggest mistakes this country is making is that the recent tax bill, through the provisions on accelerated depreciation actually encouraged automation even when it wasn't necessary. tax breaks to automate, to put people out of their jobs. now, bookings institution estimate is that by 2030, you could have 36 million american workers whose jobs are made vulnerable by automation. a scale of change we have never seen before. this is dangerous. what i'm saying is let's put some rules in place. let's stop the tax code

rewarding -- the tax code right now is rewarding the laying off of thousands and thousands of american workers. a robot tax which is an idea that comes from bill gates is a way to say if you are going to automate, let's get money to actually re-employ people and to recognize there's not going to be anymore revenue coming from the income tax that a worker paid, a robot doesn't pay. liz: you're wearing two hats here. mayor and presidential candidate. you don't get to participate in this week's debate in houston. how long can you hang in there when the whole system for the dnc and what they put forth eliminates people like you and quite frankly many governors who might be appropriate candidates here? >> look, there's a real issue here, liz, folks who have run something, run something big, i run the largest city in the country, governors you are right run whole states have had a hard time in this process. there's something there that needs to be examined. i think there's some elements of the rules that are good and there are some unintended consequences too. despite the debates, an idea

like i'm talking about here, it's gotten a lot of attention calling out the fact that automation is a huge danger. the only candidate who has talked about it a lot andrew yang i give him credit i disagree with his solution, universal basic income, sending people a check each month meaning a future without work. working class and middle class americans want a career. they want a future with work. and right now there's no government policy. let's be clear. i think this is something that should unite liberals, conservatives, democrats and republicans. there's no federal policy to address the issue of automation and to protect the millions and millions of american jobs that are threatened. how about we have that discussion? so i say bill gates idea robot tax would help us to have the money to re-employ people in other areas. we need more renewable energy, more work on our environment, for example, more recycling, retrofitting buildings to make them energy efficient, let's have a robot tax but let's look at our own tax code. if it is having the unintended

consequence of encouraging companies that weren't going to automate, to lay off thousands of people, we have to fix it >> can we stick with 2020 because you set the time line for october. you didn't make the stage for the debate. you needed a little more than 2% in the polls to get there. you didn't. why wait till october and then focus on these issues a bit more? >> the way the debates are structured, there's still another bite at the apple. there are ten or so other candidates who are doing the same math and saying -- >> [inaudible]. >> others have stayed in because you have until october 1st to get that support together and make it. that's the time line i'm working with. i believe that the issues i'm raising are going to draw more energy and support. this is a game of inches, right? each day matters. if people hear an idea and they like it, in today's political reality, they can go on-line and give that donation that makes a difference. it is bill de blasio.com. it makes a difference. >> you are pitching your website which is great. you're talking about gaining

support across the country. what about right here in this city the fact that many are complained you are busy focusing on your presidential campaign, you are not present at city hall and you are campaigning. what are you saying to those people who say you are absent? >> i was in the bronx today to announce a big change by homeowners in this city, who have been treated unfairly by city rules -- >> that's one -- >> the reason i'm saying that is we're taking actions to keep improving the city. we just had some of the best test scores we ever had for our public schools coming out. a host of things are happening right now. i made the choice to run for president and also keep moving forward the progress in new york city. we're the safest big city in america. we have the most jobs we have ever had. highest graduation rate we have ever had. look, shouldn't it be someone who actually has run something big and has a lot of opportunity who is the kind of person who would be president of the united states. there are a lot of great candidates out there with great ideas, but running the federal government, running this country

takes i think the kind of experience that i've been blessed to have dealing with a big complex mission. by the way, when i'm standing up on an issue like automation, that affects hundreds of thousands of new york workers -- >> [inaudible] >> i'm going to challenge you on that. if we say the status quo is okay? that not doing anything about the automation crisis means that danger of the future of work. a lot of people value the work in people's lives. again, sending people a check is not the answer. liz: we are coming up on the 18th anniversary of 9/11. we would be remiss if you as the new york city mayor, we didn't get your thought. you put the idea there would be a moment of silence at all new york city schools on this day, that every american should know about and remember.

what is behind that? why do you think that that is something that really needs to be pushed forth? >> liz, you know, there's no way to describe how much pain we went through that day and how much it is a lasting reality every day here in new york. liz: yeah. >> and you know we've lost first responders it seems like every week there's another person who was there trying to help people, save people, trying to find the bodies of those we lost on that day of tragedy, but another tragedy occurred, where we now keep losing first responders who were told by the federal government it was safe to be down there. and it wasn't. that's a national tragedy too. and they are finally getting some recognition in washington and some support. but we should remember them every single day. liz: and never forget. >> never forget. liz: great to have you. bill de blasio, who is on fox news, on fox business, hey, you know what? we're fair and balanced. we love having you. >> it is important to speak to

the folks who watch fox. i don't have to agree with this network on everything, there's a lot i disagree with -- >> you need to watch us more often >> there's a lot of people who watch fox that democrats need to honor and respect by making our case to them and not ignoring them. i think on an issue like automation, we might find we have a lot more common ground than we realize. >> mayor bill de blasio, thank you for being a guest here. big tech, speaking of robotics and technology, big tech is under fire, not just from de blasio, but a newspaper giant on capitol hill today blaming facebook and google for their economic woes. are these companies really the ones to blame?

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♪ ♪ award winning interface. ♪ ♪ award winning design. ♪ ♪ award winning engine. ♪ ♪ the volvo xc90. our most awarded luxury suv. ♪ ♪ facebook and google now taking heat from newspapers, leaders from eight major publications on capitol hill today asking lawmakers to crack down on the tech giants to protect their ability to grow on-line.

the papers include the washington post, l.a. times, newscorp and again the company that owns usa today. carol, are facebook and google really to blame here? >> i feel like this is blockbuster getting mad at netflix for putting them out of business. when you are a business, you need to compete. even if you are in the press, if you are not doing something that your end consumers value, you can't figure it out how to get it to them or get them to pay for it, you need to innovate. that's what your obligation is as a business. that's the reality of creative destruction in the market. >> completely agree with you, however. i do worry about the quality of the journalism that we're seeing on a lot of these platforms. the other point that's in this bill that they are trying to push, you don't even see the label. it is not prominent on the facebook page. let's say an article comes from fox business or fox news, it is smaller, and so that's something that we need to work out. i really feel like quality kind of may have been downgraded a little bit, maybe you could weigh in on that. >> in this building alone we

have 900 journalists maybe of them print, the "wall street journal," of course news corporation, dow jones, etc., barron's, smart money, so we feel very strongly about the quality of it. i just hope that that's what they are going for, that they want their just desserts, that if facebook is putting up a story, that the journal gets credit because all of that investment and that risk taken on to break these big stories and it's the same, the newspapers have revived with washington post and the new york times too, that's something worth paying for. >> i'm not going to say there's not an issue here, but at the same time, it feels like any group or business that feels like they're not able to move forward or grow or is having some sort of a problem and, you know, is on-line tries to blame it on big tech. this is going to be part of the conversation going forward. especially with the regulators, as they try to fix some of these issues. but it's just funny to sort of see how, you know, the president, if he's all of a sudden not doing well, he says it is because they're, you know, not publicizing my tweets

properly or whatever the case may be. you know, i think as the business is changing, you know, businesses are going to have to expect that they're going to have to roll with the punches and look not everybody is going to survive in the same way. >> what about the closure of hundreds of newspapers across the country and lack of local presence, isn't that something? >> i mean, certainly, it certainly is something, but, you know, i mean this is an industry that's evolving right now. >> like de blasio was saying, you are going to fight evolution, just make a better product, these newspapers, right, john, they are going strong on digital. >> they are going strong with their on-line services absolutely. the local newspaper is dead. it was going to happen no matter what, whether it's facebook and google, that's just going to happen with technology. but the quality as you say, liz, is still there and quality is going to rise. people are dying for content. there's a lot of content. there's not a lot of good content. that's good for the quality that's out there. but will the ftc put the highest paid youtube star in time-out?

why a consumer watchdog now says this needs to be investigated. that's up next. es your car insurance, so you only pay for what you need. wow. thanks, zoltar. how can i ever repay you? maybe you could free zoltar? thanks, lady. taxi! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

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here we go. it's turtle time. >> oh, man, that kid is the highest paid youtube star in america. he earns are you ready 22 million dollars last year alone. he's 8 years old, and now his very popular youtube channel could be the subject of a federal trade commission investigation. the ftc is looking into accusations from a consumer

watchdog that say ryan's toys review is coercing young children into buying products made primarily by his paid sponsors. the complaint alleges his audience of children under the age of 5 don't know that many of these toys are essentially commercials, even though they say it at the beginning and on the show and on the screen. now, should the ftc step in and do something, or should this fall to his parents to monitor what their kids are watching and what they're doing on youtube? jackie, what do you think? >> look, i'm not sure a 5-year-old or less in age than that would watch television and know that a sponsored ad is sponsored per se, but i think what the issue here is -- or what the watchdogs are saying they should declare and be more definitive about letting the viewers and their parents know that these are sponsored ads. that's where i think they are missing the boat here. the kid comes on, really happy with toys but you don't realize he's making 22 million dollars a year doing this? that's outrageous. >> i think it is wonderful. look, the argument here -- what

you're saying jackie is right. they need to make this more easily for parents to see. the fact that the kid under an age of 5 can't tell between a marketing experience and a product placement or a product they're just reviewing, give me a break, that's what a parent is for. the kid is not buying it anyway. you have kids out there right now vaping all kinds of things from cocaine to meth to crystal, and they're worried about kids selling toys? put your priorities in line, please. >> i mean, aren't kids really greedy monsters at the end of the day? they want something any time they see it they don't care if it's a commercial, youtube video or on a shelf. if they see a cool toy, they want it. at the end of the day, they have made the appropriate disclosures. the ftc puts out these rules. a lot of people aren't even doing that so the fact they are following these rules i say leave ryan and his toys alone. >> i would say this is great as long as the parents aren't exploiting the child, props to him making 22 million dollars i would like to do a that for my future child. how is this any different from

product placement in movies? we see toys all the time and there's no big thing about this movie paid us 20 million dollars to be in there. >> it is the reese's peanut butter little reese's pieces in e.t. yes -- >> excellent example. there you go >> thanks, gang. wendy's getting a sunny side down reaction to their new breakfast plan. why investors aren't buying it or eating it up. that's next. fun fact: 1 in 4 of us millennials have debt we might die with. and most of that debt is actually from credit cards. it's just not right. but with sofi, you can get your credit cards right - by consolidating your credit card debt into one monthly payment. you can get your interest rate right - by locking in a fixed low rate today. and you can get your money right. with sofi. check your rate in 2 minutes or less. get a no-fee personal loan up to $100k.

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i come face-to-face with a lot of behinds. so i know there's a big need for new gas-x maximum strength. it relieves pressure, bloating and discomfort fast. so no one needs to know you've got gas. gas-x. reporter: take a look at shares of wendy's. taking a dive down 10%. this comes after the company announced plans to invest $20 million and hire 20,000 more workers to serve a nationwide

breakfast menu starting next year. this is the fourth time wendy's has tried to do this and has not been able to. what is different this time? >> i am all for going for it and trying new things. starbucks first attempt that food was a disaster. but then they figured out what they were doing wrong and got it right. wendys should try afternoon tea. mcdonald's has such a stronghold. and you have dunkin and tim horton's. i think wendy's needs to go big on what they are good at, that's burgers and chili. >> i think people are getting freaked out that this is a 20 million rollout. it will be a one-time thing.

if it works it works. if it doesn't, they will get it right. >> my demo is very happy with this show. this is all about extra revenue. most of restaurants are not good at getting extra revenue by adding extra products. >> there are high profit margins to be made on breakfast menus. everybody else is in the game. >> a lot of mcdonald's sandwiches are on the cheaper side. they have a dollar menu and promotional things they are doing to get people in the door. >> bring back pong. >> once you say bacon i am in. >> applewood smoked bacon and the frosty chino.

unfortunately we have to end with that. hope you guys are hungry. that's it for "bulls and bears," thank you for joining us. liz: more on the fallout on national security advisor john bolton now out. with the hawk bolton gone, moving forward, pushing forward, looking forward. president trump looking to score gop victories in 2020. what will those deals look like and which deals can get done now that bolton is gone. the president at his rally last night going all out slamming democrats saying they will lead to the destruction of the american dream with their policies and just as we warned you, it's happening. kevin mccarthy, liz cheney, jim j