tv After the Bell FOX Business October 15, 2019 4:00pm-5:01pm EDT
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then these industrials are offering 2 1/2, 3% dividend yield as well as potential for strong valuations into 2020. [closing bell rings] think about the caterpillars of world. liz: linda, thank you very much for joining us from federated investors. that will do it. melissa: wow looking at that, the dow closing above 27,000 for the first time in four weeks. all three major averages ending in the green on strong third quarter profits offsetting the trade uncertainty we can't get away from. the dow ending up 235 points but off session highs. we have been up about 332 earlier in the session. s&p 500, nasdaq, both closing up more than 1%. i'm melissa francis. connell: i'm connell mcshane. welcome to "after the bell." more on big market movers. here is what is new at this hour right now at the white house president trump is about to sit down with the secretary of defense amid heightened tensions in syria.
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this story is developing quickly. we'll bring you new headlines from the president when we get them. plus a hollywood star is now officially serving time. new details as felicity huffman reports to prison. the delivery wars heating up. walmart is moving to the next frontier. how you can get your groceries sent straight to your refrigerator. melissa: i like the sound of that. fox business team coverage. blake burman at the white house. gerri willis on floor of new york stock exchange. gerri, first to you. reporter: that's right. what a day in the markets. the dow up 237 full percentage points. the dow back over 27,000, 27,024. good news for major averages. s&p 500 is up and nasdaq too. what is going on here? all about earnings, whether you were looking at jpmorgan chase, johnson & johnson, unitedhealthcare, wells fargo, all of these companies doing
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very well indeed. johnson & johnson in particular having a good day. so, as we look at these companies what we're hearing is that maybe this economy is firing on all cylinders, with the good news on the earnings front. of course we'll have more later this afternoon. wework news today was not good. wework bonds in fact lowered. we're watching that stock as well. back to you. melissa: thanks, gerri. connell: bring it to today's market panel. todd horowitz joins us the bubba trading show host, jordan kimmel. jordan you first. gerri said obviously china is still there we'll talk about that in a moment. maybe there is optimism about brexit in the market. as gerri said, it really was, all about earnings, some strong numbers. what did you take away from today? >> here is the interesting part, not only today, people on recession watch, when is the next recession start in when do i need to get out, when is the
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market going to crash? the reality market is broading out. what i mean is, the advance-decline line is basically at a new high. the ratio of new lows to new highs is very encouraging. this is very healthy market. colin, you know that i never promote the whole stock market. i'm very selective. so you have to look at companies with not only good earnings, connell, good revenues, margins, good cash flow. good management and companies that act with a lot of integrity. it's a great looking market to me. connell: todd, you've been more how do we say, cautious, maybe? you know, i wonder on a day like this, if you say to yourself maybe economy is slowing down. maybe concerns we talk about all the time are out there with american companies. to jordan's point, to some extent. american companies can make money in the environment, what do you say to somebody who has been cautious? >> i'm cautious. i'm always invested. i think investors should stay in the market.
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however when you set the bar low for earnings you step over it. that is easy, brings excitement that. bringing into consideration. there is nowhere else to go to invest your money. one place to put money is the united states stock market. stock market will go up until it doesn't. i'm still cautious. i think we're if very early stage of recession. i think there is a lot of problems out there. however it doesn't stop me from investing. investors should stay in the market t will always go up as it has for 150 years. 8 1/2% year-over-year. melissa: direct to your fridge. walmart is direct to refrigerator service in one million customers in three cities. todd what do you think about this one? they will walk in put your groceries away? >> i needed it when i was bachelor. it's a great idea. i don't know how many people want people to come into their house. that is potential issue.
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the concept is great. two working parents. don't have time to go to the grocery store. it works well. obviously a lot of studying on people doing delivery. all other things. melissa: jordan, i'm worried they don't take their shoes off, but i also think this is an attempt to get attention for this service. walmart is late to get into the delivery game, amazon, whole foods. you have a food kick, fresh direct. all kinds of people doing this now. it's a tough competitive business but a way to get people more entrenched in walmart. whether or not it is serious coming into the fridge, i'm sure you can opt against that. they need a way to stand out. what do you think? >> that is a good point you're making. getting a lot of publicity. talking about walmart delivery. when i heard about it in the morning i was blown away. i thought it was kind of odd. my guy is the vcr is still blinking 12. i say there is no way. i like to go shopping. to be in stores, pick my own stuff. it got a lot of attention.
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obviously a small driver for them. i will pick my own fruit and my own vegetables. i like to go shopping. i don't mine that. melissa: interesting. thanks, guys. connell: the general motors strike, we have news on that today. mary barra is sitting down with union leaders today, ahead after meeting thursday that will take place in detroit. sources told our own grady trimble, the uaw has negotiated a pathway to full-time employment for temporary workers. two sides are still working out the details from what we understand. this issue has been a key sticking point during the talks. melissa: happening right now, president trump meeting with secretary of defense mark esper at the white house. the president just announcing that vice president pence along with secretary pompeo will be heading to turkey tomorrow. blake burman is here with the details. blake? reporter: fairly sizable delegation, vice president, secretary of state, his national security advisor will be leaving for turkey tomorrow.
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the vice president's schedule shows that he will be sitting down with the turkish president erdogan the following day on thursday. president trump, who of course pulled out u.s. troops from northern syria and received bipartisan pushback for that decision, continues to threaten further sanctions against turkey and says this is what needs to happen. >> be very tough on turkey and a lot of others, they have to maintain their own properties now. they have to maintain peace and safety. and, we'll see what happens. the delegation we're asking for a cease-fire. we put the strongest sanctions as you can imagine. we have a lot in store if they don't have an impact. reporter: the president making those comments in the rose garden a little while ago as he was there to honor the st. louis blues who won the stanley cup playoff this past season of the president, steering a bit off script, even talking about china at one point. made a little bit of a joke as
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well and said he thinks that the stock market today is reacting to the trade deal. listen. >> stock market is way up today because of probably the trade deal that we made with china. we made a fantastic deal. you guys would have been very proud of it. your agents. [laughter]. we'll be selling to china about $50 billion worth of farm, agricultural products. that is amazing. reporter: a spokesperson for china's foreign ministry today described the trade deal as something of quote, quote, unquote great significance. but as you know, ellis is a and connell, this is just phase one of the deal and most likely three, four, maybe five weeks away from potentially being signed. back to you. melissa: this story will never be over. blake, thank you. connell: defending his business dealings, hunter biden fighting back against the critics demanding china never paid him the 1 1/2 billion dollars talked about to cut a deal with his father during the time he was
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the vice president. the fallout from this interview colling your way next. melissa: plus 2020 takes the stage. democratic candidates preparing to duke it out in the fourth debate tonight. this time in the buckeye state. we're on the ground in ohio with what to expect. former governor mike huckabee weighs in this hour. connell: harley's rocky road. the motorcycle company facing an uphill climb in the production of its new electric bikes. critics fear its push for younger customers could lose some of its dedicated base. that's coming up. ♪. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ )
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melissa: speaking out for the first time, hunter biden the son of former vice president joe biden defending his work for a ukrainian gas company while pushing back against accusations he was unqualified for the job. take a listen. >> vice-chair of the board of amtrak for five years. i was chairman of the board of the u.n. world food programme. i was a lawyer for boyce, one of the most priest ten us law firms in the world. >> you didn't have any extensive knowledge about natural gas or ukraine itself though? >> no. but i think that i had as much knowledge as anybody else on the board if not more. melissa: oh, boy. here to react is james freeman from the "wall street journal"
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he is also a fox news contributor. >> hey, melissa. melissa: the claims he was onboard after government company. the other was a non-profit. he will be paid roughly three times the amount a normal board member would get anywhere else to go to ukraine and do this. i don't know, did his defense make sense to you? >> i think you saw right there this is indefensible. that is why he quit these boards because, to say that, because i was on the, got this u.n. gig and amtrak gig, also i assume had something to do with his last name being biden, nobody is looking at amtrak as model of corporate governance. melissa: right. >> something that would be sought. the comment how no one else on the board new anything either, the idea this oligarch didn't want a lot heavy board oversight is kind of consistent with everything you would think about this deal looking at it. melissa: yeah. no, absolutely. take a listen to this one. this is also from the interview
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he did this morning disputing claim he earned $1.5 billion from chinese investors. >> feels to me like living in some kind of a "alice in wonderland" where you're up on the real world and then you fall down the rabbit hole, you know the president is the cheshire cat asking you questions about crazy things that don't have any resemblance to the reality of anything that has to do with me. and so, here is the answer. no one ever paid me $1.5 billion. and if they had, i would not be doing this interview right now. melissa: well he also said that he hasn't made any money off that investment. that was the real point. and, he of course, in private equity you invest and then you don't make any money until they actually exit. so that would be consistent with everything we know about private equity. that was the claim he made, that he hasn't made any money off that. the 1.5 billion, that goes to
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larger company. he owns 10% of that. i would like 10% of 1.5 billion. how about you? >> i think that is what, that was the amount they originally set out to raise. by some accounts they have invested 2 1/2 billion. melissa: wow. more than that. >> so a question, some people would want to know were there management fees along the way? he is saying no. melissa: right. >> he is also wrapping this up on october 31st, he says. i get a lot of letters from readers saying, how much is he getting for that 10% stake? is he just leaving that on the table? now i think that is a stake in the management company. so it is not necessarily 10% of 1.5 billion or 2.5 billion but again, i think you're seeing why this ultimately was not something he could defend in thn sunlight and to date he is not told us the expected payout will be from the chinese fund. melissa: taking a broader look,
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because i wanted to debunk the actually things he is saying, amy robach is lovely interviewing him, she doesn't know about finance like somebody at "wall street journal" would follow up with those questions but the larger point, so this is the son of a politician. nobody gets penalized for what their larger family does or else no one would be ever elected president of the united states because we all have relatives that have done crazy things but he is running as donald trump's moral superior. he comes out at beginning of the campaign is, let's return to you know, to a moral world where the president is a decent human being and we're going to restore credibility to america. were it not for his theme would this matter or do you think it does not matter? >> i think it matters a lot, you're right it may be particularly damaging biden if he is trying to present return to some better mythical past in american governance. but it would be a problem for
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anyone. it was why it was problem for hillary clinton. at tonight's debate democrats have to find a way, i'm sure they will do it while criticizing donald trump, you have to find a way to say this is not going to be the model of the next democratic administration. people get overseas deals bearing, with no relation to their qualifications based on their parents, their relatives, having a prominent american policy role in that country. it really, it never flies. it is why nobody wanted to buy into the clinton foundation model. that had a lot to do why she lost in 2016. >> is funny to watch the evolution. it used to be lobbying but everybody figured it out. clintons did the foundation thing which was not illegal at time. that was genius way to siphon money off. this is the private equity board model. that we'll see what comes next. james freeman, thank you. >> thanks, melissa.
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>> apple set to release a 399 iphone next year. melissa: oh. connell: this from a securities analyst who put that out. google has the new pixel 4 smartphone that has been announced that undercuts iphone 11 pro on price. this is larger of its models. they priced this one starting at $899. iphone 11 pro starts at $999. apple's iphone 11 starts at 699. can you say apples to apples? that would be the right comparison. melissa: you were waiting for that through the whole entire script. you were waiting to say apples to apples. connell: unfortunately i just thought of it at the end. that is even worse. melissa: inserting himself into the debate. basketball star lebron james breaking silence on situation in hong kong. the controversy that the nba found itself courting in china. did the big man fall short. you saw the courting there, right? connell: not bad. melissa: new fallout from pg&e's
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melissa: "fox business alert." united airlines reporting third quarter results. let's go back to gerri willis with the the numbers. reporter: melissa, big beat on the bottom line. expectations of $3.97 a share. expectations was 4.07 a share. big beat there. revenues not so much. got 11.4 billion. got 11.38. that is 3.4% gain. why? strong travel demand and lower fuel costs. this is god signal for the broader economy. they are raising the full-year guidance to a range of $1125 a share to 12 point 25, they say they're on pace for the next year, 2020, 11 to $13 a share. they are hiring, get this, 8,000 people by year-end.
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melissa: what? wow. reporter: this is really good news economy story i think for united airlines earnings. just airlines detail, revenue per seat mile, industry insiders watch, 15.67 cents, versus 14.93 per street mile. a little insider in there. strong report. back to you. melissa: i don't know where they will find 8,000 people. that is interesting. connell: those are good numbers. now this, breaking his silence on the topic for the very first time, nba soup he star lebron james speaking out on the houston rockets gm tweet supporting hong kong prodemocracy process. >> i don't believe he was educated on the situation at hand and he spoke. some people could have been harmed, not only financially but physically, emotionally, spiritually. just be careful what we tweet and we say and what we do even
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though yes we do have freedom of speech but there can be a lot of negative that comes with that too. connell: joined by len he will will -- elmore former nba player. he has been broadcasting games. he is columbia university sports broadcasting lecturer. what do you think of lebron james, the way he handled it last night? >> i was a bit flabbergasted, to describe mori's statements misinformed or not educated, struck me lebron you need to look at the what you're talking about. the statement that his statement may have done risks and done some things to harm people and say that the nba players had a tough week that inference is by comparison to hong kong protesters, you got to recognize their situation as well. they have democratic reforms that pro promised to them when
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the brits handed hong kong over to china 2047. they have a situation here where those reforms haven't been fulfilledded, and in 27 years they're about to lose whatever democratic rights they possibly have. so to try to make those comparisons is kind of absurd. connell: lebron james has been doing this a long time. been in the public eye going back to high school days. he is usually athletes or public figures understand how the comment will be perceived. knows what people will think. i wonder in making a comment like the one you referenced, my team and this league just went through, a difficult week, you know, did he just misjudge this? i mean, almost seemed like he did what he accused daryl morey of doing, speaking without all the information or just not knowing, what did you think of that? >> i think he spoke from insular world. don't get me wrong, i think lebron james has a huge
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platform. he has been thoughtful and been sensitive to civil rights, human rights issues particularly here at home but in this case i believe he is dead wrong. connell: on that issue, len, i noticed you retweeted someone who said, fairly simple statement, but it saids, something along the lines, woke at home, meaning you understand what is going on here but asleep everywhere else. can you expand on what you took away from that? because some of these athletes have been accused of being hypocritical in their stance here on this issue? >> i'm not sure i could characterize it necessarily as hypocritical unless they are actually aware of what is going on. when the tweeter who i retweeted said, woke at home but unaware abroad i think it is not understanding that there are human rights and civil rights issues violations that are occurring elsewhere. connell: right. >> particularly because they're in asia, in china's backyard, in
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japan, i think daryl morey the substance of his tweet was right on the mark that was all part of the situation here. connell: the final point, the accusation when we heard nba first reaction to lebron james it is all about the money, if it is, if that is the case, is lebron james even looking after his own interests there? or could the blow back he getting for his comments domestically actually hurt his brand so to speak, do you think. >> i'm not sure it will hurt his brando domestically but the bottom line, going forward, this will make people very skeptical when guys speak out for social justice. and you know, looking at placing a dollar sign on it. the nba has values. and they're a value based organization. china needs the nba as much as the nba needs china. stick to your values. it may cost you in the short term but in the long run you will benefit from it.
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connell: their for coming on len elmore. >> my pleasure. melissa: getting apple's new line up got easier. roku shares surged after launching the apple tv app on most of the devices in time for apple tv plus streaming debut on november the 1st. the app can be downloaded through the roku store. netflix is down on the news. they are set to report quarterly results tomorrow. we'll cover it hire after the bell. connell: that is huge. netflix. i'll get a decent tie. major first in college scandal, felicity huffman reporting to prison for her role in varsity blues. melissa: issues going green. harley-davidson's big bet to attract younger customers might not work out so well after all. we're outside of a dealership in illinois. looks good to me.
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connell: a different kind of role. the actress felicity huffman reporting to federal prison in california starting a 14-day sentence for her part in the college admissions scandal. kristina partsinevelos joins us from the newsroom. kristina. reporter: huffman is one of many parents helped buy their children's way into prestige as you colleges. she is the most recognizable face. she pled guilty to paying 50,000-dollar getting her daughter into school. what does this mean? she is spending first night behind bars. she faces two weeks if federal prison. 30,000-dollar fine. one year supervised release. and do 250 hours of community service. she will stay at prison in dublin, california, 35 miles outside of san francisco. considered low security. about 1200 female inmates that are there, huffman what you're seeing on the screen, she pleaded guilty back in may. in court she said her daughter even asked her why she didn't believe in her.
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huffman didn't have an answer but felt stupid, frightened and sorry. so she is one of 30 parents charged. dozens have entered guilty pleas. many are still yet to hear their sentences in the coming months. the big question will huffman's two weeks in jail be the benchmark for them? another recognizable face, lori loughlin is one that has decided to go ahead to move ahead to trial. she pleaded not guilty. she is being accused of paying $500,000 to get her two daughters into the university of southern california. loughlin, could face up to 40 years in prison if convicted on all charges. so will justice be served? connell: well, depends how you define justice. kristina, thank you. melissa. melissa: round four. democrats preparing for the fourth round of presidential debates. 12 contenders joining the stage at this time as the race appears to focus around three candidates, joe biden, elizabeth warren and bernie sanders. combining for nearly 70, pardon
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me, 70% of the support in the "real clear politics" average of polls. hillary vaughn live in westerville, ohio, the sight of tonight's debate. reporter: melissa, hunter biden says he did not do anything wrong taking a gig at the ukraine energy company while his dad was vice president but still he is promising not to do it again if his dad becomes president. hunter biden in an interview with good morning america saying he is stepping down from the current position on a chinese firm. he is denying that the foreign companies were shelling out high dollar salaries to him while for access to the white house, but being a biden is better for business. >> i think it is impossible to be on any boards i just mentioned would you saying i'm the son of the vice president of the united states. >> you were paid $50,000 a month for position. >> i'm a private citizen. one thing i don't have to do open my kimono as it relates to
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how much money i made or didn't but it all was reported. reporter: tonight's stage is the largest ever with 12 candidates sharing the spotlight. the new front-runner on the stage, senator elizabeth warren is front-loading attacks on opponents fund-raising. promising not to take over $200 from big banks or hedge funds, taking a dig at other candidates. while candidates want to spend their time hobnobbing with the rich and powerful it is legal for them to do so but shouldn't hand out secret titles to high dollar donors. one who has not banned high dollar values, relying on grassroots fund-raising relying on pocket change that comment got a lot of blowback from other candidates on the stage the buttigieg is also out with an ad today, melissa, kind of previewing some of his attacks, ways he mans to contrast himself against other candidates on stage. focusing on "medicare for all."
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he have wants medicare for just those people that want it, not alienating those who want to keep their private health insurance. melissa: interesting. pocket change. that is a comment that will come back to haunt him. hillary wow. connell: a lot to talk about. someone with a little bit of experience on presidential primary debate stages. the 2018 and 2016, former presidential candidate, sarc saw governor, former heavyweight champion, fox news commentator, mike huckabee. hunter biden stuff, does that come up, is it just up to the moderators. if you were a candidate opponent making a similar issues, would you bring it up? what do you think? >> how can they resist it, that is low-hanging fruit. if joe biden the front-runner or close to it you will not be the
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nominee if you don't take the front-runner down. if they don't have another debate you won't have another shot. i think moderators will open with it, the knows glaring thing out there of any candidates on stage. connell: i wonder if you're right about that i think they will bring it up. i will be shocked if they open with it. we'll see. buttigieg stuff is interesting. if you're someone like mayor pete, right, you're running in this race, you're still in the single digits but raising a lot of money, is there kind of a fine line that you have to walk here between going after the front-runners, trying to become the front-runner yourself, maybe not wanting to make too many people too angry they pick you as their running mate at some point? >> you have to be careful because everything you say can and will be used against you in a campaign. i will give you a good example of that. a candidate who attacks another candidate, says this guy is not fit to be president. that guy gets the nomination. the candidate who said he wasn't
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fit to be the nominee, gets up at convention, says he will be the greatest president ever, obvious question which time were you lying? when he wasn't fit -- connell: be honest, to be a fair, lindsey graham is very good friend of president trump's. he said all kinds of stuff. >> it happens a lot. melissa: right. connell: but i do think you have got to be careful. i think a person has got to maintain some credibility. if you truly don't think the person ought to be president, then you got to say it, stick with it. connell: right. >> but if you, if you're just using it as political tool, i think it's a very stupid one to use in a primary. that is something you use in the general election. connell: fair enough. while you're here, different subject, but an interesting one, nonetheless. facebook, mark zuckerberg, is, depending on your point of view, maybe in some hot water again. this hashtag developed on line, delete facebook. it has been trending believe it or not after a report revealed that zuckerberg held inforral meetings, off the record dinners
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with, conservatives. zuckerberg had a response to that. to be clear i had dinners with lots of people across the spectrum, hearing from new people, hearing from a wide range of viewpoints. that is part of learning. if you haven't tried it, i suggest you do. your take, governor, on all this. >> really proud of zuckerberg for pushing back saying i will have dinner with whoever i want to, you ought to try the same thing. i don't care who mark zuckerberg has dinner with. if he has dinwer liberals i have a feeling most of the time. that is his right. i want him to run facebook as a fair platform so not feared trying to point people towards a point of view this is great example, connell, how the left, not just saying about we want you to agree with me. it is saying if you don't agree with me, we'll put you out of business. we'll shut you down. the first amendment guarantees five things, one which is peaceful assembly. you can visit with whoever you want. these people on the antifa
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movement, the far left who really just gut the entire bill of rights especially the first amendment. connell: stop and think about it, governor, i would think you agree, this is simply good business for zuckerberg. >> sure. connell: especially if you're unattack from my political opponents, see how people think, get them on your side, whatever the case may be, don't want them to break up your company, you have to talk them about it, right? >> that is exactly what you do. you're much better off if you had relationships with people, the very people that could come after you, whether they're from the media, or from congress. and frankly, it's good for zuckerberg find out that they don't have ons and tails that they're not crazy people as they are sometimes betrayed. i respect, think it's a brilliant move on zuckerberg's part. it revealed something about the far left many of us know, it is all or nothing deal on those folks, if you don't agree with
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them 100%, they want to shut you down, take away free speech, freedom of assembly, basically any freedom that you have, because you're not worthy of the freedom that they want to grant you. it is really disturbing. connell: so is the horns and tails reference to be honest. good to see you, governor. thanks for coming on. >> thanks a lot. thanks, connell. melissa: target making a big announcement after promising to raise the minimum wage. you won't believe what happened next. well, you might if you pay attention to economics. plus the california blackouts are over but the problem remains. as a struggling actor, i need all the breaks that i can get. at liberty butchemel... cut. liberty mu... line? cut. liberty mutual customizes your car insurance so you only pay for what you need. cut. liberty m... am i allowed to riff? what if i come out of the water? liberty biberty...
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melissa: facing the consequences. pg&e is taking the heat for statewide triggered blackouts. california's utility regulator issuing series of sanction for what it calls failure of series of executions. the state's governor is urging the company to give refunds to customers. here to talk about it, radio talk show host, larry elder. larry there is so much blame in this situation to go around. if you look at, you have the power monopoly, that has a grid that is, has way too much of a load on it. the brush hasn't been cleared back.
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you have the government monopoly who isn't serving the interests of californians, worrying about all of these things, power, electricity, brush. then you have, you know this time of year i grew up in southern california, the smell of halloween was fire because there were always stuff, when the winds kick in. this is the time of year, what do you think? who is to blame here in this chaos? >> right. and we left out the fact that pg&e right now is in bankruptcy and as a result of $30 billion of liabilities stemming from fires in 2017-2018. plus in california has strict liability laws of any utility in the country. basically if your equipment is deemed to have caused damage, you are 100% liable even if you weren't negligent. a hell after business to be in. what pg&e pg&e tried to do planned outages in hopes the wind was not knock down powers lines, not set fires. turns out the winds were not as bad as people thought so there
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are a lot of customers that are angry. 800,000 customers lost power translating into 3 million people. nobody is happy. melissa: $250 will not help at all. tell me who is responsible for the grid not being built out the way it should and for the brush? they're saying pg&e hasn't cleared the brush. they're supposed to. >> right. melissa: when i grew up, you got a mailer how much you had to clean brush around your house. you got a ticket if you didn't do it. >> right. melissa: are they stopped from doing the work? do they have no money? what is the deal? >> there is fight between the timber industry and environmentalists often have won and fallen trees were not thinned the way i used to be. it is no longer economic al to do that. much of the land is owned by federal government and state has no control over it. a lot of blame to go around.
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governor gavin newsom falling trees were not thinned as a result of fees and regulations that make it uneconomic to do so. melissa: this is classic. negative externality they're saving the planet. instead they end up with no power and burning everything down. larry elder, thank you. good stuff. connell: now this. bigger paychecks come at a cost. target cutting workers hours after vowing to raise the minimum wage at its company to $15 per hour by 2020. this from a new report. is the company proving the case against that minimum wage hike? david asman joins us as we lead up to the "bulls & bears" at the top of the hour. what do you say, david? >> that lesson should have been learned by now. there are so many examples where that happens. either they cut workers hours when you raise the minimum wage up to such heights, double the minimum wage. or they don't hire workers at all. that happens with a lot of companies been doing automation,
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particularly in the restaurant business and everything. the irony it is happening with the tightest labor market we've had in my lifetime. now workers have leverage over their employers that they never had before, to boost up higher wages on their own without going through forced raise and minimum wage. it is an old lesson. it will never be learned because politicians never learn old economic lessons. connell: you want to pay workers more. you're making a choice. >> workers are getting paid more because of the tight labor market. we have booming economy. >> what is coming up on the great "bulls & bears" program? >> we'll talk about lebron james. we have jared max, he is from fox sports. he knows all about the issue about whether the nba is doing too much kowtowing to china. we also have the latest from syria. that is coming up in a couple minutes. connell: seven 1/2. start the calisthenics. >> i do that, you know that. connell: david asman. melissa: all right, harley's
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melissa: harley-davidson stepping on brakes, production for the electric motorcycle is halted due to technical issues in the charges system, jeff nexs in illinois. reporter: a little rainfalling in chicago, and on harley's plans to introduce their first electric motorcycle. it is on the home page, they have stopped production and delivery of what they call the live wire. there is still hope for future,
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some harley h.o.g.ars will never ride in an electric harley, some might, some like the sound of an electric motor, what does this sound like, listen. >> no sound. >> okay, i don't know if you could hear that. too quiet. problem, with the charging system, a good looking bike, costs about 30 grand, it has good reviews, there is a lot of electric competition, harley felt it needed to get in the game, the old harley games, people my age, we'll be dead soon, the truth is. you better -- i think i heard it. you better develop some new customers, that is what they are trying to do with the electric bike. there are people in the day who said we should stick with the
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horse, the gasoline-powered car thing is not going to fly. people say that about electric stuff too. too. connell: varney. reporter: right. melissa: we done hear the harley bike? reporter: i don't know what happened, maybe it is really silent, i don't know. all right jeff thank you. -- i heard it, wait. connell: that is the sound. i thought it was like a tesla, there you go. i get it. all right. i get that now, a little bit. that is the whole idea, they don't want -- melissa: wait, wait. all right what do you think? connell: i don't know. it is fine, i guess, it would be weird if it did not make sound. melissa: our sound technician is very much against this whole thing. connell: oh, then i am too.
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melissa: says he is a harley person, forget it, i thought it was coolism you ar. connell: you don't drive a harley. melissa: i drive an suv. "bulls and bears" starts right now. david: hunter biden breaking his silence hours before tonight democrat debate. after months of scrutiny, over his international business dealings, denies he broke any laws. >> did i make a mistake in maybe in the grand screa scheme of the yeah, but on some unethical lapse? absolutely not. welcome to is "bulls and bears." david: i am davi david aldrich - david asman.
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