too but it was worth it, lauren. you are worth it. super mom, super business journalist. i don't know how you do it all. have a great day. we asked how much the average consumer spends on pizza. what will be the estimate? the answer. have a guess. it is going to be $170. i would have gone for 200. i like chocolate. according to the national retail federation. neil cavuto, take it away. neil: happy birthday, lauren. i have ties older than lauren. i wish younger people could speed up on the older thing. we're looking at twitter stock, not so tax -- tank againstly, elon musk wants to buy it. $54 a share. the stock is not anywhere close to that. it had a enormous run up when he

first showed interest in the company, but again something going on there. then how does he pay forfeit he does plan to purchase it. presumably he would take it out of tesla or at least, you know, take some shares out of tesla and that stock right now, anyone's guess as to whether investors there see it as a real possibility because tesla's stock is down about 35 bucks when last i checked. do we have it, guys? maybe we don't. i think it is down 35 bucks. don't read too much of that. get the read from kelly o'grady following this in los angeles and the significance of this bid, especially now. kelly. reporter: good to see you, new. the tesla chief is coming with this line. musk is looking to take the twitter private. he argued that the twitter no longer serves social imperative of free speech and needed to be transformed. run through the latest developments. i hired morgan stanley to advice on the deal, offering $54.20 per

share which would value the transaction at $43.3 billion that represents a 3% premium over the day elon does closed he would become the biggest platform. the twitter board started meeting two hours ago, in a statement they say, quote the twitter board of directors will carefully review the proposal to determine the course of action it believes is in the best interest of the company and all twitter stockholders. that last piece is crucial. the board has a fiduciary responsibility to do what is best for shareholders from a financial standpoint. some say that may inwith twitter accepting the bid. the board may push back the 54 price because it undervalues, the stock is trading near it or not at it. they could potentially seek another buyer. all this is happening as the sec is scrutinizing a number of elon's transactions. he is target of a transaction lawsuit for not disclosing the

initial stake in twitter. i am proice were threatening to walk out when he became the largest shareholder. he is about to speak at the ted conference. i'm sure he will have a lot to say. neil: i think we can count on that. thank you very much. the ted conference she alluded to is happening in vancouver, technology entainment and design conference better known as ted. bill gates spoke at it. prime minister of fin lan speaking a the same event. who's who crowd. i don't know where he is sandwiched into that. tesla stock could be currency for this offer now, dipping more than 3%. a little more than about $35, $33 now a share. keep in mind that elon musk controls 17% of tesla's stock. so that works out to about 172 1/2 million shares. so if you do the rough math he has $180 billion to play this. you could leverage that. you could march margin loan

that. you could do a whole host of things with that i didn't get the spacex, 50% of ownership of that venture. jackie deangelis has been crunching the numbers. joins us now. hey, jackie. reporter: couple things struck me and i i want to walk you through my process of this. the last letter of the chairman of the board, musk said my offer is the best and final offer, if not accepted i would need to reconsider my position as shareholder. the board is meeting this morning, kelly mentioned to discuss this. it is reported a another meeting at 5:00 p.m. it is more companywide to have these conversations but it feels like if they don't respond quickly musk could pull this offer. if they respond, then they say no, well he essentially telling you may dump twitter stock. he owns more than 9% of the company right now. a lot of the recent enthusiasm because he has been involved. so the board's in a tough spot

here. as kelly said they also have to think about the shareholders. a lot of questions how this 300 billion-dollar man is going to finance it. as you mentioned much of his wealth is tied up in tesla. presumably he may be switching guys. that is a special neil h neil pun. it was trading higher at the open but now trading in the red. that gives you sense where wall street sees this as it plays out during the day. taking control, taking the company profit means musk could bring twitter what he sees a center, platform for free speech he calls it. reminds me a little bit what happened to dell. if you recall, tech company, not social media but the company did go private. it gave management a chance to reshape the business t brought it back better and stronger. it unlocked a lot of shareholder value. so this may not be popular at the moment. it is seen as hostile, neil, but it could be the best thing for

the company. neil: it is getting a lot of buzz. >> absolutely. he loves that buzz. neil: he loves that buzz. he is good at buzz part of it. jackie deangelis. i want to go to luke lloyd. do you think he is serious about this? do you think he wants to take over twitter, bring it private, or to extract some changes from twitter management of whom he is not a big fan? >> i absolutely they is serious, neil. i call elon musk a modern day patriot, promoting free speech, capitalism, right? i think it would be foolish for twitter shareholders not to accept elon's offer. at $54 a share that is 40% premium from where twitter was trading at before elon got involved. owe is buying twitter to promote freedom of speech and trying to

eliminate liberal bias and cancel culture like big tech companies like twitter. most companies, people who can afford to write a check for $43 billion are part of the woke and cancel culture movement, and support twitter as it is. not like anybody else is running to the doors to buy twitter for $43 billion. i think this is the best deal -- neil: you don't think anyone else, would luke? i'm sorry, you don't think anyone else would? this idea of bidding rivalry going on, it doesn't make sense to you? >> no, i don't think so. this is the best deal twitter will get. he is a tough negotiator. take it or leave it. a lot of these companies, a lot of these people, out there willing to spend $43 billion or more for this company because you know, they're not buying it for growth. elon is not buying it for growth. he is buying it to promote freedom of speech. to promote these great ideals. i don't think a lot of other

people are looking at it that way and willing to spend the price. neil: i often times, luke, see the world through the prism of my teenage sons. here's why. they say twitter is old people like their dad and, i just got over the fact that they were saying the same about facebook not too long ago. then we moved to twitter. now apparently that too is the lawrence welk crowd in their eyes. they don't even know who lawrence welk was so that is on deaf ears. is elon musk risking buying a dinosaur then? >> i think he is is but he is doing it in the best interests for america. i mean, look, i just dealt with this yesterday on twitter. anybody that blocks somebody for their views is just living in their own echo chamber, refusing to enlighten themselves through other perspectives. my theory that other views and opinions only strengthen the

reasoning, thoughts my own beliefs and opinions. i'm thankful elon musk is promoting this way for everybody. i don't think he is buying it necessarily to make money, i really don't. that could concern tesla investors, other companies he may be taking equity from, but i think he is actually doing this in the best interests of america which i love and fully support. neil: i think he is in it for the money. not to be jaded there. i think when he looks at this, he can get a powerful response just by taking a position. now there is also the risk of, if he goes through with it, how he goes through with it. whether he sells tesla shares, would have to be good many of them. leverages off of that. take as margin load. good investment firm could charge him 2% for the privilege if that but i am wondering if he does that, then could that be a signal that his cash cow, that is, this whole tesla phenomena he built, he is a pioneer of

electric vehicles, begins to suffer? so he gain as little thing but loses a big thing, what do you think? >> so i think elon probably will finance this throughout the next couple years, maybe a five-year time frame, 10-year time frame. i don't think he will take $43 billion right away out of spacex for tesla. the way i think about it, elon musk is one of the best innovators, one of the best capitalists of our time if not humankind or mankind, right? he will finance this, interest rate of four or 5% on this. he thinks in his mind they get greater four or 5% rate of return on his other invests by growing his other companies. i think deal will be financed for longer term. probably the equity portion isn't going to impact tesla, spacex or any of these other companies. what will impact the time he will spend building twitter up or fixing twitter. that is where the real value,

negative is going to come for tesla and spacex. neil: luke, stepping back from this, if we look at bidding interests, bidding war were to develop, i see your point unlikely others would cough up or entertaining that kind of money but you would think there would be more hyped up interest in technology stocks in general, you would think. now another sell-off pour nasdaq dominated by big technology names. a lot might have to do with the continued backup in interest rates and inflation, i get that, but no follow-through from twitter including twitter itself. what are we to make of that? >> yes. when it comes to the overall stock market everyone's eyes are on the federal reserve. they were so late to the game. the government continues to screw up. i'm not just talking about the federal government. i'm talking about the federal reserve. they are so late to the game. we're doing everything against our power to fix issues in the

economy. there is a lot of issue out there right now. there is a lot of bruises out there. we continue to patch bruises with a bandaid. when you try to fix a bruise with a bandaid better to rip it off not slowly peel it off. we need to rip it off. a lot of investors are concerned that the federal reserve will hike us reallily into a recession, which is probably the best thing for us to do to save the middle class. in the long term a lot of people are worried that these tech investments will continue to get hammered down, looking to buy near the bottom but there is a lot of value right now in the tech sector. you have got toe look for it and be active in your portfolio. neil: luke, always good to have you. you're not that much older than my sons. your hip view of this is probably a learning teachable moment for me. luke lloyd. >> i'm hip now, nei neil: you are hip, very, very hip. luke lloyd, thank you very, very much. by the way one of the biggest

shareholders, the saudi prince alwaleed is rejecting the 54-dollar bid, in his words doesn't come close to the intrinsic value of twitter. the prince's way cough up a little more. we'll have more after this. ♪. since i left for college, my dad has gotten back into some of his old hobbies. and now he's taking trulicity, and it looks like he's gotten into some new healthier habits, too. what changes are you making for your type 2 diabetes?

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neil: now, when it comes to the ukraine war the ship has really hit the fan. debate over whether a key battleship, one of russia's finest was sunk by the ukrainians. that is what they say. the kremlin comes back say it was slightly damaged. again that is what they say. the fact of the matter for the second time in as many weeks the ukrainians were able to hit a russian ship from miles away, all you need to know about the course of this war for vladmir putin. claudia rosett former "wall street journal" moscow bureau chief. what is interesting about this, besides the back and forth, acknowledgement on part of russians, it was hit, not severely but we'll be moving on. ukrainians do this a lot. not only with ships but with surprising strength and resilience through this war. what are we to make of all of

that? >> well, first i've been critical of slow walking weapons to ukraine and continue to be but i would assume that was with u.s. help and good on us if it was. and it is a probably a major blow, flagship of the black sea fleet. i looked on satellite should be able to tell. we should know at least in intelligence circles whether the ship is foundering, sunk, crippleed, on fire, hit, what is happening. neil: definitely hit but not sunk to your point go ahead. >> exactly what is going on with the ship right now but it is really out of commission which is excellent. at the same time i would not underestimate vladmir putin. he is playing, remember, a long game here. and while the biden administration seems to some extent to be banking on the possibility that russians would topple him from power, possibly via a coup, general uprising seems unlikely right now

although there are many unhappy people but i wouldn't bank on it. putin has many resources, many reserves and one thing with the russians on things like this they continued to keep going. this is really good moment. celebrate it. power to the ukrainians on this, but i would reserve judgment what's ahead especially for odesa. neil: claudia, i always like to get your views what is going on in russia, former moscow bureau chief. the sentiment you get out of vladmir putin and his tight command, very popular, what we're doing in ukraine is rallying the nation like never before. they point to this poll, i forget what kind of poll it was, he had 70% approval rating and support but i juxtapose that, claudia with the real economic pain russians are going through right now and while they might blame the west for part of it or

the evil united states, sometimes pain is pain and if it is your leadership there while this pain is being inflicted you're not happy, right? >> of course not. at the same time it is a reign of fear. look he just put in russia's most notorious prison, the head of the fifth service fsb, deal with former soviet states, supposed to be giving him good intelligence on ukraine. there was some speculation they were supposed to be organizing nice welcoming committee for him in ukraine that didn't work. that man is in prison. reports of all these agents being fired. that is scary in russia. when you see the chance to do some sort of chance of a man on the street interviews, people are clearly afraid, most of them, to criticize putin. you need to factor in a decree

of control he exerts what is clearly a very powerful domestic security network. he inflicts terrible punishments on people who go against him. you have that hell bound playing out against the pain. again factor in as well russia is an oil and gas exporting country. he is hurting now but he again ask looking out ahead. russia signed an agreement with mongolia for construction of a big gas line. that is out there in the future but he is moving on it. there are things like that where he is, unless he falls, he may navigate through, i would even guess, neil, this is a guess, i suggest, this is animating for him. this man loves to plot, plan, manipulate, scheme, pervert, he has got a quite a project on his hands. his military has let him down one would assume. he is far from done.

things like now threatening finland and sweden joining nato, he will then up the nuclear threat from russia. neil: when is he threatening finland in particular toying with that idea, i think the finnish prime minister oddly enough at the ted conference going on in vancouver, also featuring elon musk as a speaker, she will make the decision whether next couple weeks about this nato thing, do you think the threats that putin has are real? what would he do? >> i don't think -- look, god help anyone who tries to really invade finland. talk about a country where they know how to fight. i think, putin is capable of terrible things. we're seeing them right now in spades. been going on for years going back to the poisoning of iltvenko, what he did in

chechnya that is clear. would he risk to nuclear exchange, risk of a nuclear exchange in the united states. remember that would probably obliterate his beloved kremlin, the vast military cathedral on the outskirts of moscow. all the other projects of his beloved mythical mother russia he is trying to restore. would i risk that? i think that is doubtful. neil: what if he would? claudia, if he does so many crazy things it would seem unlikely for a normal leader but he has not been behaving normally? >> no. at the same time he is a very calculating personality and while we're guessing about his psyche, there is a story that is making the rounds how putin gave an interview years ago where he cornered a rat in a leningrad building where he was living, the rat lept at him, attacked him viciously. we have been warned, if you corner putin he may react like the rat. i wrote a piece recently for

"the new york sun, if you actually read the interview, putin did not figure himself as the rat. the rat attacked him. in other words the rat is the other side, nato, us. what he actually do? he did not kill or attack the rat. he turned and ran. he slammed the door. he was relieved to escape. now i would, putin is capable of terrible things and when cornered he might do terrible things but if we're trying to gauge his psychology, read the actual text, look at what he has done. the problem so far the u.s. has been inviting him to go ahead in a sense, especially under obama, who failed to deter or reverse the seizure of ukraine, i'm sorry of crimea in 2014. neil: right. >> president biden has been inviting this with everything from the killing of the, strangling of u.s. energy to the disasterous retreat from afghanistan and the ridiculous off-ramp diplomacy did not deter the war in ukraine.

good on america for sending weapons to ukraine but putin has seen one invitation after another. if i might just, i think he is playing a caney game where he will manipulate us at any opening. i don't think he would risk getting into a nuclear war with america. i don't think he is that crazy. neil: all right. >> remember he is also looking at things likes the iran nuclear talks where the u.s. has been actually enlisting russia's help in haggling with the iranians in ways that would give the iranians access to huge amounts of, billions in frozen oil revenues abroad. okay? putin looks at that. neil: all right. >> i would wager he sees a similar possibility of deals for himself ahead. so he is trying to manuever. he has found he can threaten us and we don't do anything. what do we do when he said he was putting nuclear forces on alert? biden canceled scheduled u.s. missiles tests not to provoke russia. we need to take risks. there is no way not to take

risks trying to duck from it at this point invites upping, further, bigger worse risks. so i think, i don't think that putin is crazy in the sense of he lost all touch with reality. i think he is a calculating megalomaniac. neil: interesting. >> he will, if you really put it to him i do think he would back down. that's where i would put my money. i don't think we're at risk of nuclear annihilation from russia over ukraine, even over finland, sweden joining nato. i think we're at risk in the longer term if we keep backing down. because remember the big brother of russia, china, is also watching what we're doing. so that's the warning for today. good on the ukrainians for hitting that ship but we need to stand up to these things more. neil: all right. well-put. i put my money on your view of things. that rat i assume was an actual rat we're talking about. it wasn't a human rate or someone who turned on him. i will explore that story a

little bit more. claudia, thank you very, very much. when we come back the fixation on twitter right now. a lot of people wondering how serious elon moving is about acquiring the company. even if he were, even if he is, there is this other little issue of securities & exchange commission letting him do so. that is hardly a gimme. after this. ♪. i'm greg, i'm 68 years old. i do motivational speaking in addition to the substitute teaching. i honestly feel that that's my calling-- to give back to younger people. i think most adults will start realizing that they don't recall things as quickly as they used to or they don't remember things as vividly as they once did. i've been taking prevagen for about three years now. people say to me periodically, "man, you've got a memory like an elephant." it's really, really helped me tremendously. prevagen. healthier brain. better life.

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neil: all right, quiet as a church mouse. that is elon musk. he is not commenting on this. he is in vancouver, talking about his bid to take over the rest of twitter, whatever it works out to, 41 to $43 billion. he is at the ted conference, technology entainment and dine conference going on in vancouver. this is who's who list there, bill gates is there, al gore. we also understand the prime minister of finland is there. she is under enormous pressure

right now because vladmir putin told her, you join nato, not going to be good. nevertheless she went to the conference. so she is rolling the dice on that. we're waiting to hear from elon musk on this. charlie gasparino, the best business reporter on the planet is looking into this. regardless whether he is serious or not, that is elon musk, it is not a slam-dunk he would get this, right? where does he stand with all the regulators? >> a lot of what we reported yesterday, the market today, that is why you have to watch fox business, "cavuto: coast to coast" gives you a lot of market intel and the market intel yesterday that we gave he is under mounting investigation, a joint investigation by the sec and the doj over a myriad of issues. there is -- neil: not all with twitter, right? >> twitter is just one part of it. his past stuff involving tesla, disclosures, whether he violated his consent decree with the sec

he wasn't supposed to tweet certain things out or get board approval. neil: promises to behave. >> doesn't behave. you kind of like that about him but these are all regulatory issues that have, some of them are more serious. obviously promising to behave and not is slap on the wrist. give me five million. here you go, pal, go away. like a mobster. $20, leave me alone. neil: take the cash and the cannolis. >> there are other more serious stuff they're looking at. whether he disclosed properly to the market you know, his problems with tesla over the years. because it has been up and down. it is mostly up. neil: right. by the way that would be the currency he would use for that, right, if it came to that? >> most of his net worth. there was whole other stuff. whether he bought businesses brought them private with tesla shareholder money in the past. you can go back. there is a lot of stuff.

will not bore you with every detail, suffice to say what we broke yesterday, sec and doj are jointly involved this. my source is a attorney that works closely with both agencies. neil: oh, wow. >> household name, particularly in business. will not see who he is. he is somewhat advising them. i know that is how it happens. does that mean he will get indicted tomorrow? no. does that mean that there will be charges? no. just means they're looking at this. the investigation ramped up even more when he made foray into twitter. when he bought the stake. he danced with the company whether he would join the board, didn't join the board, proposed a hostile. i think the betting right now -- neil: would you call this a hostile bid. >> i don't think they want him. so it is kind of hostile. neil: would you entertain other bidders? >> here is what i think could happen. this is not purely, i'm not just

pulling this out. they are going to reject this bid. they have grounds to reject it. neil: prince alwaleed says -- >> he is shareholder. not a board member. they have grounds to reject it based on the stuff we laid out yesterday. based on the 52 week high was in the 70s. he is bidding not in the 70s. 73 it was. gotcha. they have grounds to reject it, which i think they will. then i think they're becomes an issue, does twitter become in play? do they go out and seek a white knight? i've been talking to bankers, that is a possibility, they turn to someone. the problem is not a lot of people that can buy it both from a regulatory standpoint and money. amazon has the money but i just can't imagine the doj, the, obama, almost said, biden doj which is packed with people very regulatory conscious will let tech get bigger. take amazon out, apple out,

probably. who does that leave? i guess you could say warren buffett has money. this is not a warren buffett type investment. does that mean disney? disney want to sully its brand now? it has other things to worry about with a service -- neil: twitter now, some young people look at that as passe. when they said that about facebook. twitter is now -- when did that happen? >> young people don't have a lot of money. twitter is a public square. it gets a lot of traction. if you put twitter on a bloomberg machine, say twitter was the sole domain of bloomberg, that would be a powerful trading interest. neil: interesting. >> maybe they go private some way else. maybe bloomberg steps in. i did not hear that happen. just putting things together. neil: all right. >> but a lot of people are out of it. disney looked at it but disney doesn't want to get involved, do you ever see the trolls on twitter, some of the stuff? my head in the shape after penis

is not very appealing. neil: so you got mine? >> that does happen every now and then. neil: family show, family show. hold on. this is legal. line three. >> that is not illegal -- neil: understood. >> just sew crass some of the stuff. neil: world we live in. we -- >> larry fink, if larry flynt was still alive. he might buy twitter. neil: look at the time now. you're the best. you are the best. could be the medication talking. been through a lot. he has been through a lot. >> the oxycontin. neil: we have a lot more coming up. again we're waiting to hear from elon musk. twitter board met this morning, will meet later on today to weigh own all of this. we heard from prince alwaleed not a board member, but a big, big investor in the company, not at all responding favorably to this. that elon musk can go higher. can he, will he? after this. ♪.

♪

♪ we believe there's an innovator in all of us. ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things.

♪. neil: all right, welcome back, everyone. we had like an elvis moment in our building today, everyone was telling me, neil, grady trimble is here. he is our midwest correspondent, chicago, more to the point. he is everywhere. including today, new york. the great thing about grady besides electrifying the office is he has been following up with the big auto show in new york yesterday and the push for evs. it doesn't matter whether electric vehicles or not there's a supply shortage of almost all the stuff you need. that is one thing the president is trying to address yet again in north carolina today, but so far to little avail. reporter: we hear it over and over again we'll fix the supply chains yet we have all the problems with just about everything you know. order something on amazon, go to the grocery store, buy a new car, paying an exorbitant

amount, even for starter cars these days, forget election or luxury models. the average price is 45, almost $46,000. neil: that is average? reporter: that is average. look at this number, people paying above the suggested retail price. automaker makes a deal, this is what we think we should sell for. for kia, honda, mercedes, people are paying 10% above the msrp because of demand. neil: that at dealer level. reporter: dealer level. neil: ford wanted to crack down on some of its dealers doing that? reporter: some automakers are reaching out, please don't do this, it makes us all look bad when you sell the vehicles more than they should be selling for. i talked to ceo of kia u.s., we're living it up to some dealerships. some find buyers at those rates. let supply and demand play out. that is how it should be.

he talked to me how unusual it is. this is not normal buying behavior. neil: won't customers remember that when things normalize a little brit? oh, you were the guy -- >> they will remember the dealership. whether they remember the automaker i guess that is to be seen. we've got the situation in ukraine. we've been talking about the chip shortage more than a year now. a lot of palladium and neon comes from ukraine. pa laid y'all is specifically used in microchips to make them -- palladium. used in catalytic converters. european arms of the american automakers are experiencing hits for that. potentially will have to raise prices f this continues, it is a prolonged event, three to six months, experts say that will hit cost of vehicles here which obviously are already -- neil: forget about just electric vehicles. any type of vehicle. you will wait a long, long time. >> right. you can put in an order now. might wait six months for it. the message to people is, forget

about what you wanted when you were going in to buy a vehicle. be open-minded by other options. at this point it is whatever is available on the lot. neil: often times there is not a lot available. >> nope. inventory i think last i checked is around 30 days. dealerships that is the amount of cars they have on hand. dealerships are used to working with 90 days inventory at normal times. at the same time, covid has changed how people buy vehicles. people going on to the automaker's website, specifically preserving a vehicle they might want. arrives exactly to their specification is. neil: they're willing to wait. have to wait. >> not everybody can wait for a car. a lot of people using public transit, taking car into the office if they are going into the office. neil: okay. >> yeah you need a car. that is the bottom line. that is why demand is through the roof for new and used. increase for year-over-year for

used vehicles is something like 35%. way more than the new vehicles. neil: point still is the case used car more expensive than a new one. reporter: sometimes can turn a profit selling a car. neil: only had that when i was a kid trying to unload a tercel. that was then. grady trimble great to see you. reporter: great to be here. neil: in the flesh. we have a lot more coming up. we're focusing on twitter stock. it is really beguiling a lot of people. if you have a gazillionaire, the world's richest man offering you $52 a share, why are you nowhere near that? what does that say the sentiment, confidence in that bid, if it could ever come to pass? what does it say going on with tesla's stock? dipping now, that would presumably be the currency he would use to buy it. it's down, 38 bucks. we'll have more after this. ♪.

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♪. neil: all right. 62-year-old frank james has arrived at a federal court right now in brooklyn on these charges of terrorism. just a short time ago he was the man allegedly behind the brooklyn subway terror attacks

earlier this week. lydia hu in brooklyn with more. lydia. reporter: good afternoon, neil. that's right, we expect frank james to be appearing making his very first appearance in court on these federal charges this afternoon here in brooklyn in connection to the shooting on tuesday but the investigation into tuesday's shooting that injured dozens is still very much ongoing as authorities try to determine a motive behind the shooting. part of that investigation will include analysis of frank james' many social media posts. >> the investigation is continuing into the motive, into his social media. reporter: now according to the criminal complaint james posted videos on youtube that talked about the new york city subway system and made remarks directed to new york city mayor eric adams, quote, what are you doing, brother? what's happening with this homeless situation? and every car i went to is loaded with homeless people.

it was so bad i couldn't even stand. and in that context he also allegedly said, quote, and so the message to me is, i should have gotten a gun and just started shooting, expletive. mayor adams is pointing the finger at social media giants saying social media companies should be doing more to flag posts like these. >> responsibility i think of social media and industries, companies, must lean into while we're watching these postings, as these threats every day and no one is given an early warning sign to law enforcement. reporter: we reached out to youtube and it is parent company google alphabet but we didn't get an immediate comment in response. meanwhile james is facing a federal terror charge in connection with a violent act against a mass transit system. the u.s. attorney says if there is a conviction he could face up to life in prison. neil? neil: lydia hu, thank you, lydia

for that update. go to jw cortez, mta police officer. good to have you. i'm curious the terror charges being filed in federal court today, unusual but what do you think of how that holds out if this ultimately goes to trial? >> i think it's the right call. i think this is something a lot of us in the profession were hoping to see. and so i think what it also does it send as very clear message and it says if you're very clear about doing this, you won't be charged on the local level, but we'll go to the federal level and hold your feet to the fire and prosecute to the fullest extent of the law this is absolutely the right call to make. neil: people report a lot of his rantings on social media, youtube go on into the dozens, dozens of hours at that yet no

one flagged it. obviously that raises concerns whose responsibility is it to flag it? i mean the police can't be everywhere. law enforcement officials can't be everywhere but don't the social media giants have a role here at least to monitor content like that? >> absolutely and i will tell you that, i'm the president of the detective rafael ramos foundation. neil: just to remind your viewers, ramos and liu were the two new york city cops executed on december 20th, 2014. before that individual carried out that very public execution, he posted about it on social media. he said and i quote, i will put pigs on a blanket. he carried out what was a direct blow to not only us here in law enforcement but throughout the united states. a few months after that president barack obama at the time signed into law what was supposed to be the very thing we're discussing now. for whatever reason it died on

some hill somewhere and here we are. had that been fully enacted i believe it could have possibly thwarted this attack. so you're absolutely right, someone has to be held accountable. neil: i have asked this of other law enforcement authorities, just those who have a good idea trying to stay ahead of trouble. so if you don't mind i will get your ad wise on this, jw. a lot of people want to know, a lot of people are scared about taking a subway. their particular vulnerability once those subway car doors close. help us to learn what we should be doing, what we should be paying attention. because a lot of people are saying the hell with it, i'm not risking it at all. >> well i think that would be a huge mistake. number one we never want to give these people a sense of accomplishment. as much as our natural instinct may be to avoid the thing i think it would be a huge step in the wrong direction. i think we still continue to show up. but what we do is, we lean on our subject matter experts, the

ones who do this for a living. i'm a full-time trainer. the advice i will give you right now i give to the cops i train. listen to your spidey senses. look up from the cell phones. pay attention. look left and right. keep your back against the wall. if you feel like, you know what? this individual is acting a little bit funny. take a step back. find the right individual. keep together with other people who are thinking, feeling the exact same thing. avoid the situation, avoid the confrontation. step back, call the right people to intervene. i think what we're seeing now more and more. we saw it a few days ago where people are no longer subscribing i'm going to mind my own business attitude. they jumped into action. they applied makeshift tourniquets. we need to see more of that. i think more and more professionals speaking out what they can do we'll see people listen up and take the appropriate action. neil: wise advice.

thank you, jw cortez, mta police officer. we'll take a quick break, start hour two pretty soon. technology stocks are taking it on the chin even with certainly the heightened interest in twitter what some think could be a bidding war. it does not appear to be materializing yet. nor spreading to other technology stocks. nasdaq down a lot today. more after this ys had your back. like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank.

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>> it's a war zone. somebody's going to jump in the war zone, okay, you're in the arena. let's go. neil: all right. going way back to 2018 when those comments were made. elon musk has been, shall we say, not quite copesetic on twitter and its value to society. he has often complained that it's not very fair, not very balanced. hasn't said is it in so many words. now he's putting his money where his mouth is, addressing those issues and say what he wants to do is unlock the great potential that is twitter. and he's doing so with a $43 billion cash bid, $43 billion for the remaining part of the company he doesn't already own which would be about 90% because he owns about 10% right now. but again, the stock is not racing up to the price he wants to buy it at, and that normally means doubts about how serious he is or doubts about whether it would ever come to pass. we're going to be exploring that. first, kelly o'grady here to set up where this all stands right

now. kelly is in los angeles. hey, kelly. >> reporter: hi, neil, good to see you. yes, we are awaiting remarks from elon musk at the ted conference, very excited for. but as you said, he's been extremely vocal about twitter needing to change in favor of protecting free speech, and that's exactly what he emphasized in the sec filing. now, musk is offering to purchase all shares he doesn't own for $54.20 per share which, as you said, would value the deal at $43 billion. that represents a 38% premium over the day elon disclosed he'd become the platform's biggest shareholder. now, the board reportedly met earlier today on whether it will approve the deal, but i9 may be forced to -- it may be forced to accept from a fiduciary stand point elon is offering roughly $8 above trading. however, a saudi prince tweet out the offer undervalued the company. beyond whether the transaction goes through, i want to

highlight two big questions. first, mergers and acquisition units always can ask does this pass the better off test. here there are no sin iseries, there's no -- synergies, there's no expertise. a vision does not translate into execution. will he be able to run the company from a cultural and product standpoint. big tech crackdown has been a huge story. twitter would have to invest in a massive overhaul of how they monitor content. it would be a nightmare. the best part though, neil, we're not going to have to wait long, he's going to be speaking shortly. neil: and i hear he goes unscripted, so that should be fun. kelly to grade o'grady -- can kelly o'grady, thank you for that. if you think this is igniting interest in technology stocks in general, it's not panning out today. interest rates are backing up, 10-year over 2 the.8%. that is far plaintiff to a bug a boo -- far more of a bug a boo

for the industry. the selloff in technology continues here. this might be just an isolated incident with what's going on with twitter and the interest in twitter is not helping some of the big names. it is it is not, in other words, spreading to this new level right now where everyone is going to be making deals. that's not, apparently, the sentiment for the time being. susan li following all of this. susan, fist, the market -- first, the market reaction. >> reporter: well, the initial reaction was down because it's the world's richest man who has a trillion dollar electric car company, and he's sending rockets to space, if he goes in to buy twitter, what does that mean for the facebooks, the metas, even snap also in there as well. so i was just listening to the report from l.a., and i i think that the board, yes, they have the fiduciary responsibility to look at all bids, right? especially if it's an 18% premium. but they can also find an alternative to that bid as well. they can say, look, our

intrinsic value at our peak last year was $70. this undervalues our company. if we can bring up that prince's tweet, that's exactly what he says because saudi arabia's one of the largest shareholders in twitter, and he's saying he owns about 5%. and he says i reject this offer a because it doesn't even come close to what twitter is worth. neil: that's that 52-week high at 72.38. that's what he's referring to. that was within that 52-week period. >> yeah. that was six months ago. and mark cuen ban is also voicing his -- cuban is also voicing his experience in boardroom battles, and here's what he says, i think twitter will do everything possible not to sell the company. they'll try to get someone to buy elon's shares and get him out. i think the feeling on wall street and if you look at the monday morning quarterbacking as this progresses, most people don't think that twitter will accept this deal, right? neil: do you think it's, as he he wrote, best and final offer?

>> so i was going to ask you this because you've seen a lot of these bid-is asks, right? didn't warren buffett always say this is my final offer? neil: so did regis fill bin. [laughter] i'm just curious with, like, what -- do you think he means that? and that would, because i don't see someone else stepping up here. i could be wrong with. >> yeah. mark cuban was saying that too, where is the white knight? it's obviously profitable, because elon musk invested $200 billion of his own money. and how serious is when he's throwing in the 4/20 references again? so who is this white knight? mark cuban is saying, look, i think everybody in silicon valley, you're probably calling your antitrust lawyers to see if this will maybe get through the washington -- neil: not in this environment. maybe things change if the if there's a leadership change in washington, but i would imagine republicans are less fans of this sort of thing in this

environment than democrats. >> right. and who wants this tube of platform? i mean -- type of platform? i think facebook and meta are have their own free speech problems. i don't see that -- neil: and they're suddenly deemed old. i remember for a while facebook was, oh, it's so passe. [laughter] twitter's the new thing. now until twitter -- i'm told twitter is passe. >> well, yes. again -- neil: i can't keep up with it. >> 217 million daily active users. that's pretty much like a media echo chairman bear on twitter. most people -- echo chamber. most people use facebook or instagram. can i quickly bring up twitter's ceo, he pretty much predicted this. he talked about distractions -- neil: he did. >> -- to come, and i think he knew what elon musk was up to. what about the models that elon musk wants to change twitter into? 217 million daily active users. instead of advertising revenue, which is what twitter relies on,

he wants to change it to a subscription service. if i charge $2 a month, will you pay $2 to use twitter? i don't think 217 million people will. neil: well, isn't the whole idea musk is talking about is to leverage it with video and other things, i don't know. that's a leap. >> i think wall street is telling you today with the downgrades that all these distractions, a lot of noise, you need to focus on building your usership which is what they tried to do. they want to try to get to 300 million active users and double that revenue, wall street's saying get back to fundamentals and expanding the business. neil: you know, this internet, this is going to be so big. >> is it? [laughter] i've heard. neil: there we go. spoken as a dinosaur. susan li, thank you very much. very hip on this stuff, very patient with me when i ask her questions. [laughter] i thought it was a tea service, social thing. all right, britney carr is with us, a republican on the federal

communications commission. he is very knowledge bl about this stuff, brendan, always good to see you. i'm just wondering about the regulatory hurdles that elon musk might face now if he is, indeed, serious about this. at face value we're assuming he is. not everyone's buying that. maybe that's evident in the stock reaction. but what do you think of the hurdles he might face here? >> well, it's interesting, i think you step back and ask how we got here, i think it was a decision by twitter particularly a couple years ago to head down the briar patch toward increased censorship. and i think the reaction we're seeing to this bid on twitter and other places right now is very revealing. twitter used to say that for all of our content moderation that we do, we don't engage in discrimination based on political view points. and yet if you see the reaction on twitter, people are concerned that if elon musk comes in, there's going to be a lot of additional political viewpoints expressed on that web site that

they disagree with. and i think that's a very revealing reaction. look, i have no idea elon musk is going to do if this goes through, and i don't think we should rely on the benevolence of anybody if when it comes to something as fundamental as the digital town square, and it's clear that that's what twitter has become. core political discussions and conversations are taking place. so regardless of what happens with elon musk, we as regulars need to put in place some common sense if guardrails that are going to protect speech and promote more speech. we need accountability, transparency, section 230 reform and, i think, some basic nondiscrimination obligations as well. neil: you know, you're always in this industry, and i understand the concern of conservatives who feel that it's unfair to them, but then their views come across or start getting highlighted by twitter, and it's the liberals, the left that start complaining about that. so fairness is always in the eye of the beholder. liberals think what they're doing is hunky dory and no one

should rain on their parade, and conversely, conservatives say that's exactly what's going on now. so let's say all thought, all views, all opinion is allowed on all of these sites. is that really going to change their basic business? >> yeah. i mean, one thing that elon musk wrote recently was he said that he believed that free speech is a societal imperative and that twitter has a long way to go on that score, and i agree. look, this is a -- this used to be a very liberal-progressive view. go back to the 1970s, the modern day op-ed launch. ed on the pages of "the new york times" because the then-editor said that freedom of speech, diversity of thought is the life blood of democracy. i don't think we want any thumb on the scale for conservatives, thumb on the scale for democrats. i think what a lot of people want is just some basic rules that are even-handedly applied. and when people see the hypocrisy that takes place -- look, if you believed in the

power of your ideas, then you're comfortable with more speech and content moderation because you have the best ideas that will prevail in that market. and that doesn't mean we need to open up these platforms to illegal continue tent -- content, terrorist speech, child pornography. that's sort of a parade of horribles that a lot of people trot out. there are some basic rules of the road that we can put in place that's going to promote core political speech and not require that type of content to be out there. and again, twitter's unique in the sense that you don't have to follow anybody. people aren't saying i don't want to hear speech i disagree with, which is a problem in its own right, they're saying i don't want other people to have the ability to talk within their own community about certain ideas. so that's a challenge. neil: yeah. and then who plays the role of the fact-checker and and how are you policing how and and what facts you're choosing. >> yeah, that's right. and that's why i think at the end of the day, you know, the fit amendment got it right which is more speech is better than less. and, obviously, twitter is not a

state actor unless there's been coordination between the government and twitter for takedowns x there's obviously some evidence that goes that direction, but we can consistent with the first amendment put basic forward rails in place. we did this in the 1990s with cable. congress decided regular broadcast tv was basically essential, so we put some rules in place that limit the ability of cable companies to decide what what channels to carry and what channels not to carry. that survived all the way up to the supreme court. i think that's a good model for what we need in place for twitter today. neil: yeah, brendan carr formerly with the fcc. by the way, republicans thought they had finally put the kibosh on more student loan forgiveness. now talk the president is going to issue an executive order and making it happen right away. after this. ♪ ♪

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neil: can president biden just make student loans disappear for millions of college students and their parents by just issuing an executive order? we're getting word right now that he is considering just

that. hillary vape on capitol hill -- hillary vaughn on capitol hill with more. he's run into resistance trying to do in the regular way. how likely is this way? >> reporter: neil, it's actually not very likely at all. in fact, even the white house has openly admitted that they are skeptical that president biden does have the authority to just sign away and cancel trillions of dollars in student loan debt. that power ultimately resides in congress. there are some other work-arounds that he can work through. the progressives would like to see it, but so far the student loan payment freeze that the white house does have the power to keep in place and has kept in place for months has already cost the federal government $100 billion. that's according to the congressional budget office. it costs an additional $4 billion every month the freeze is in place. the white house admits they have essentially been delaying the inevitable. white house press secretary jen

psaki on sunday said on fox that payments will have to restart at some point, but progressive democrats on capitol hill want the president to follow through on his campaign promise to cancel some student loan debt. senator bernie sanders yesterday comparing payments to punishment. >> why are they stuck with the student debt? what did they do to get this punishment? did they blow their money on gambling? on drugs? what did they do? they went to get a higher education. not exactly a crime. something which their parents and all of us said, do it. >> reporter: republicans say outright forgiveness would be unfair to the millions of people that have paid off their student loan debt. it would also mean $1.5 trillion that is factored into the national debt right now will not be repaid as planned, meaning our national debt over time would ultimately be higher because the money never gets paid back. some progressives say headed

into november not taking action on this could cost democrats the midterms. congresswoman alexandria ocasio-cortez the telling me she thinks president biden's bad polls are because of young people. >> folks may think that these are kind of independent or swing voters that are contributing to his polling and what not. it's actually young people who have not really been served. student loan debt and significant forgiveness of student loan debt is what the president can do to serve them. >> reporter: and, neil, it seems like the white house is becoming even more open to this idea whether it happens by executive order or something else. senate majority leader chuck schumer said yesterday they're constantly talking with the white house, and he said that they seem to be more open than ever on taking action. neil? neil: hillary vaughn, thank you very much. well, whether we end up paying for that or not, the bottom line are is there is something in the wart here because there are a lot of -- water because there are a lot of initiatives very similar to this. for example, in california the

push by the governor right now to shift the definition of a full workweek from 40 hours to 32 hours. that means that anything over 32 hours would count as overtime, and for a lot of businesses it would be an immediate expense. ed renzi is a former macdonald's usa ceo -- mcdonald's usa ceo with. what do you think, first off, of this plan? the governor's very serious about it, and he that has pretty big support in the dominant democratic legislature. >> sure. california's always been on the leading edge of smart things and dumb things. i think that there's been a lot of experiments around the world, iceland most recently did a 32 workweek, 32-hour work workweek. in the united states, in california particularly, this is going to affect about 3,000 businesses if they have over 500 employees, can and they're not a unionized shop. that means if you have 50 employees in your business, you're going to have to hire 10

more employees to fill that function, the rest of those hours, and more significantly, if you need 50 -- you've only got 40 now because we've got 12 million unfilled jobs in the united states right now that we can't recruit for. restaurants are desperately trying to hire people and can't find 'em anywhere. so you put this kind of thing in place, you're going to be paying a lot of people overtime. it's also going to allow people to get two jobs because they can work 3 days in one place, 3 days in another place, and, you know, how do you stop that? if you really want them to have a healthy life, good well-being and 32-hour workweek works, okay, great, except that's not what's going to happen. government never understands the law of unintended consequences. we see it every day. so, you know, i've got mixed feelings about it. i want by workers, i want our workers to have a good quality of life, have must have money to support themselves -- enough money to support themselves and

their families, put their kids through college, but i don't want them tired. you know, the united states works about 1767 hours more than per year than all other countries except for israel, korea, russia and mexico. so we do put in a lot of hours. and so to balance that in some fashion makes sense to me, but if you're going to have to hire 20 people to replace 10 and you can't get them anyway, you're going to be paying overtime which means labor costs are going to go up, and labor already runs 30% of most businesses' expense account. so when you look at these issues, i think it needs more study. it might be the right thing to do, but we don't know enough about the impact of this to really understand the down-line consequences. neil: well, we know enough that some of these restaurants particularly -- and a lot of other businesses have upped their minimum wage, many of them way over $20 an hour now.

on top of that, a if 32-hour workweek where overtime and time and a half at a lot of these places would kick in, that hourly rate goes up all the more, 23, 24, 25 an hour. >> you bet. neil: where does it stop? >> i just went past three mcdonald's getting here to the studio, and the sign on the reader board said now hiring hourly employees at $16 an hour. if they have to hire 20 more employees, all of a sudden those getting overtime are going to be getting $24 an hour to bag french fries when they're 17 or 18 years old and have no job skills. it costs almost $5900 to onboard a new employee and train 'em, and now you're going to add this cost on top of it? a hamburger's going to cost more than the money you have in your wallet one of these days. and you think about this too, neil, look at what's happening to commodity costs. you know, they're up 8.5, 9%. fuel's up, big bigger -- big

component is fuel costs. these businesses are making less money. neil: hen you've got to wonder, they've got to pass along at least some of these costs to consumers -- >> oh, absolutely. neil: i'm wondering9 what the pressure tipping point will be. >> well, what happens -- the tipping point's going to be when customers quit buying product. neil: right. >> the perfect definition of stagflation. they're making a lot of money but they're not buying anything, and the economy's going through. i lived through that with carter and nixon, it was ugly. neil: you and me both. >> it was ugly. neil: it did feed on itself, and and people then began rethinking these so-called discretionary if expenses and, unfortunately, fast food was lumped into that. >> you bet. neil: i'm just wondering, if this were to take hold in california, obviously, the sentiment is that it's going to

spread and people will look at this 32-hour workweek as the norm, how likely do you think that is? >> oh, i think it's very likely. washington will be next, michigan will come right after that, a although michigan's largely a union state. then it'll go to pennsylvania, new york, and is once that starts happening, you're going to see a shift in virtual hi all the states are going to have to do something to compete. there are not very many brave governors these days. i look at abbott, desantis and a couple others, but, boy, after that, it's all about buying votes. even like the student loan forgiveness, it's all about buying votes from that age group. that's all that amounts to. and it's all about consolidating power. and we need to understand these things as citizens and start thinking rationally about what's the best for the overall good of the country. neil: someone has to pick up that tab, right? someone has to pick up that tab. ed renzi, thank you very much, my friend, former mcdonald's usa ceo.

what begins in california doesn't end in california. all right. we have a lot more coming up including this processing now of illegals in this country. no longer just being processed in texas now in washington, d.c., more buses on the way to the nation's capital. a lot of people wondering how many more are behind them. can you say potentially hundreds of buses? after this. ♪ ♪ (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back. so you can live your life. that's life well planned.

♪ neil: all right, i thought we had some comments from elon musk. i can tell you he is speak at this ted conference going on in vancouver, washington, and he has commented on this offer he has for twitter i saying that, you know, he hopes it will happen. right now not sure he will actually be able to acquire

twitter. he did say right now that i think is very important for there to be an inclusive arena for free speech. so we're monitoring this. i believe we have now some sound we can share, melinda? can we run that, please? take a look. >> i i think it's very important for there to be an includes irene that -- inclusive arena for free speech where -- [applause] if so, yeah. twitter has become kind of the deflag toe town -- de facto town square, so it's really important that people have the reality and the perception that they're able to speak freely within the bounds of the law. and, you know, so one of the things that that i believe twitter should do so open source the algorithm and make any changes to people's tweets or emphasize or deemphasized, that

action should be apparent so anyone can see that action's been taken so there's no sort of behind the scenes manipulation. neil: all right. keep in mind that with twitter a little bit north of $46 a share, it is a long way right now from his $54.20 a share offer. a lot of people reading into that it's going to be an uphill climb making this happen and that there's not much competition from others in the industry that is under enormous pressure from federal regulators to say nothing of both democrats and republicans who think that the industry isn't being really responsive to consumer demands, that this could be a battle to see this ever come to fruition. the prince from saudi arabia with, obvious, who is a big investor was among those indicating today -- keep in mind, the prince is not on the board -- but that he found this offer not good enough and referred to the fact that just

earlier this year, about six months ago, i believe, the year high on this stock was about $73. of course, the low was a little bit north of $31 a share. so we're keeping an eye on this and his comments, that elon musk comment as well and, you know, growing concern he could be facing a great deal of regulatory hurdles just trying to follow this even if it's just his money to make this happen, they would probably have to be giving him a great deal of grief and a lot of questioning to see if this ever comes to pass. we're watching that, also watching developments in washington, d.c. where yet another busload, many after that, arriving with illegal immigrants who are being processed now in the nation's capital and no longer just in texas. let's get the read on all of that with jacqui heinrich at the white house. >> reporter: hey there, neil. good afternoon to you. a second busload of migrants arrived in d.c. this morning, dropped off just blocks away from the capital. -- capitol. they're from venezuela,

nicaragua, cuba and colombia. a group of about 30 also arrived yesterday. one man told our colleague, lucas tomlinson, he flew by pane from colombia to mexico and then crossed the rio grande before he was put on that bus and sent to d.c. i asked the press secretary the, jen psaki, how the white house is reacting. the texas governor making good on his promise to send migrants to the president's doorstep. you previously called it a publicity stunt. is that still the view of the white house? >> these are all migrants who are free to travel, so it's nice the state of texas is helping hem get to their final destination as they await the outcome of their immigration proceedings. >> reporter: democrats don't think the situation at the border is nice. arizona senator mark kelly made his fifth trip to the border yesterday, reminding voters that he's urged the biden administration not to lift title

42 the without a plan in place. arizona senator kirstin zinn pa also sounded off on extending the pandemic restrictions on planes but not at the border. she said today the administration's extension of public health emergency authorities proves the need to delay lifting title 42 to protect the health and safety of arizona communities and migrants. >> i don't think joe joe biden or vice president harris has any idea how bad it is. and they're going to see with all these people invading washington, d.c. like they've invaded our border states, and it may make them realize how bad it is because what they're going to see over the coming days in washington, d.c. is what all the border communities see. >> reporter: are we at -- this week jen psaki told me the administration does agree that congress needs to pass comprehensive immigration

reform, but she claims that republicans are blocking that process, wanting to politicize it and not fix it. she says they have an open invitation to work with the white house on this issue, neil. neil: thank you, jacqui heinrich, at the white house. to new jersey republican congressman jeff van drew on all of this. the white house's response to this is that it's all but a charade and that this is a cute little game that governor abbott is playing. what did you think of that, congressman in. >> no, i think he's right on target. they deserve it. let's see how they deal with it when we, you know, literally could have thousands of people coming into washington. i hope that they drop some of them off right in jen psaki's neighborhood in front of her house. and, frankly, they ought to drop some off in delaware at the president's place too, you know, that he goes to every single weekend just about. they don't care what they're doing. when i say "they," i mean the president, the administration and the majority in congress, what they're doing to people's lives, their homes and to the

nation. this isn't just border states, by the way. they are spreading these people out throughout the country. and it isn't only title 42. i want people to really pay attention. title 42 we absolutely have to keep it this place. there is also a policy that was put in place by president trump for the rapid expediting of people. in other words, when illegals came over, if they got with them immediately, send them right back, like that. send them right back. don't go through a long process which sometimes takes weeks, months and even years x. that was another policy that he had. i sent a letter to mayorkas, secretary mayorkas, and literallied had 77 -- literally had 77 other co-signers on that letter, congress people, who said stop this. we've got to keep these policies in place. we have no border, it's broken open, and if you want to have real immigration reform, let me

tell you, if you want to have real immigration reform, you're going to have a border that's intact. third world countries even have borders that are intact. mexico has a border that's intact. this is just sw unbelievable, it's the destructive, and it's going to change the fabric of the united states of america. neil: congressman, thank you. i do want to interrupt if with some breaking news, frank james, the suspect in that mass shooting in a subway train earlier this week, was ordered held without bail by a federal judge in new york today a day after his arrest in man manhattan. the judge saying that he represents a serious risk of danger to the community and that his, quote, premeditated, carefully-planned attack terrified the entire city. that, by friends, would be an understatement. we'll have more after this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this.

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usfl. it's starting now, like right now. in the middle of all of this, madison alworth this barreling -- birmingham, alabama. >> reporter: hey, neil. the city of birmingham is so excited for the start of this league. that's because they're hoping all of the 41 regular season games -- hosting. and that means a huge economic benefit for the city. when you look at just the teams with the players and coaches that are staying for those 10 weeks here many town, we're expecting a $15-20 million impact for the city. businesses are already feeling the benefits of this. i'm here with seve, the owner of eugene's hot chicken. you've seen an impact from week one of practice. tell me how it's impacted. >> they called us and was moving in and asked us to cater. we catered three days the first week, and it's just been amazing. >> reporter: how many people were you catering for? >> not our normal, average caters.

we average about 100 people, we were doing about 500 people catering, so it's been a huge impact. >> reporter: and that's just the teams, coaches and players. we've seen hotel reservations up 15% year-over-year. we haven't even had the fans yet. your location is really close to the stadium. what do you think it will mean for fans coming after a game? >> i'm hoping. we're already back to pre-pandemic numbers, and i'm looking to be up 10-15% this year just because of the impact of football. >> reporter: okay. i wanted to get to that. obviously, restaurants struggled because of the pandemic. you guys also had construction that made it hard to get to your restaurant. what does it mean to have this boost after a tough two years? >> i mean, it's huge. hopefully we get back to some type of normalcy. that's huge for us. >> reporter: and we're here in birmingham. alabama is a big football state. >> right. >> reporter: we're going to have spring football, do you think that the city's ready for football? are you excited for the usfl to be here?

>> i'm so excited. i think people will show up. >> reporter: all right, love it. well, we're here, and, neil, i wish i could bring you some chicken, but unfortunately, i think we're going to be finishing all of this. before i wrap up, i do want to tell you about opening weekend. we're expecting that first game, super excited, saturday is, 7:30 eastern time. we're going to have alabama's team versus new jersey's team. i mow you and i are new jersey kids, so it's going to be really great leading up to then. people are practice, getting ready for that opening weekend, and the energy here is electric, neil. neil: yeah. and there are some superstars in the making. you don't know where, when, what team, but a few people emerge, and they could be rock stars. we'll watch it closely. madison, thank you very much. madison alworth in alabama on that. by the way, we are getting distribute dribs and drabs out of elon musk speaking at this conference where he is weighing in on his possible -- he thinks he's optimistic he could fund the twitter deal. he says i have sufficient assets, i could do it if

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>> i'm not sure that i will actually be able to acquire it, and i should also say the intent is to retain as many shareholders as is allow by the law in a private company which i think is around 2,000 or so. it's not like, it's definitely not from the standpoint of let me figure out how to monopolize or maximize my ownership of twitter, but will try to bring along as many shareholders as we're allowed to -- >> you don't want to pay whatever it is in cash, you'd like them to come with you. >> it's -- i mean, i could technically afford it. [laughter] >> i know that. neil: yeah, i think he could technically afford it, elon musk talking about his bid -- not that it's been warmly received by system of the insiders at twitter. of course, we'll kno conclusively later on today. we know the prince of saudi

arabia not a fan of this, but he was talking about his push to take over the company at more than $54 a share which works out to another $43 billion on top of the money he's already spent to acquire roughly a 10% stake in the company. but this issue of going private and and how many people you can contemplate a reward for doing so, he's obviously done his research and that there might be a limit to how many people you can do that for, so there could be some shareholders left out or a buy that still leaves them -- buyout that leaves them compensated. this is the same thing dell went through when it was private, went pluck, back to a private company. it shows you that he has done his homework and due diligence, and this is not maybe just a passing fad. so we're watching that that, as is danielle dimartino booth. normally, i love to talk to danielle because she's dallas fed adviser, form former one, about interest rates. and we are, upward push in rates, but what's interesting

about this, danielle, is you could argue he will be behind something that inflates the value of one company -- or maybe not. it's always what someone is willing to pay. but what do you make of this and the stand-alone nature of it? it's not listing all technology stocks, they'ring -- lifting, they're taking it on the chin precisely because of higher rates. >> they are. they're reacting poorly to the 10-year treasury today, but i find it intriguing. i i mean, this is kind of a side show, if you will. forget it, it's front and center for if investors right now, they're watching this drama play out all week long. i'm going to be on the board, wait a minute, i'm not, i'm going to buy the company, i'm not, it's got 4-20 in there which is, apparently, a marijuana meme. [laughter] it is, i'm -- neil: no, no, you're right -- >> how would i know this? neil: i don't know. >> but, you know, neil, what we're seeing right now is a reflection of somebody whose

currency, if you will, his holdings in tesla, what's made him a multi, multi, mill multibillionaire many times over, it's backed in speculation over who he is such that you can say, you know, if i had to take care of it on my own, i'll be able to pay the full tab. neil: the 4-20 thing does, in fact, refer to a date, considered an occasion for smoking or celebrating the smoking of marijuana. you knew that, and that, again, worried me -- [laughter] that reference to the price is interesting. but met me -- [audio difficulty] neil: e we've seen hikes in france, australia, mexico, chile, pack a stand, hungary, armenia. we're on the verge of a

half-point hike maybe ourselves come next month. this is quite the credit contagion here. what do you think? >> it is, it is, neil. and there is something to be concerned with because it seems like central banks all around the world are kind of off on their own agenda doing their own thing because we have the equivalent of not even an arab spring. it's more of a global spring because we're seeing a lot of panic, a lot of disruption because of food inflation popping up many africa -- in africa, peru, we've seen it in pakistan, sri lanka, and it's as if central bankers are trying to combat something with the tools that they have, but yet how -- what kind of an influence is that going to have on inflation truly in and it's going to make imports more expensive -- neil: could it lead to a recession, danielle? in other words, the very thing you're tryinged to do to orchestrate a soft landing, you ultimately get a crash landing?

>> and that is the issue. and i think that that's why you're seeing such erratic behavior in the bond market and in the stock market. i mean, you can't even call it volatile anymore, you should call it violent, the types of swings that we're seeing day-to-day. that's because there's so much uncertainty about what the outcome of this is going to be. i think that anybody who is suggesting that the fed can engineer a soft landing at this point, that any central bank can engineer a soft landing, europe is going into recession quicker than the united states is, i think it's just specious, it's disingenuous, neil. neil: all right. we'll watch it very closely. you are a riddle wrapped in a conundrum, danielle. you know so much about so many things -- [laughter] i don't know where to go, but i know i have to go to a break. danielle dimartino booth on all of that. we'll have more after this.

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2021 was an exciting year for evergold. the company discovered its first high-grade gold-silver domain at its flagship property in northern bc. the excellent drill results set the stage for a bright 2022. evergold. neil: the dow up 104 points. usually my friend charles payne can keep that going, and then some. charles: they call it the cp effect. may be the musk effect today, neil. neil: i hear you. charles: good afternoon, everyone, i'm charles payne, this is "making money." breaking right now the stock market is taking a back seat to the elon musk show. the drama revealing cracks and divisions in our nation. i have brilliant minds on wall street and i have a few thoughts to share as well. banks showing earnings reports as they made a bundle on trading. are these the same suits calling retail dumb for