tv Varney Company FOX Business February 15, 2023 11:00am-12:00pm EST
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>> the democrats are great on messaging. they talk about maga extreme republican palin -- republicans all the time. okay, we should be talking about the crazy democrats. >> i think it's time for the president to do an oval office address to the country and lay out what is going on. the chinese communist party knows that he is weak, and so they see this as running room to hit their goal offing being globally dominant -- of being globally dominant by 2050. >> we will likely see inflation stubbornly higher than expected which means the fed will have to the probably continue to the raise rates. that is where a recession meets investors' fears. >> i think, ultimately, we're going to see an earnings recession probably sometime this summer. >> rates are going to the stay higher for longer now. i think this whole pivot narrative needs to just get thrown in the trash can. ♪ ♪ turn up the music ♪
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ashley: lady liberty in new york harbor, always love that picture. it is 11 a.m. on the east coast on this wednesday, february the 15th. i think it's going to be in the mid 60s in new york city. again, i say winter? what winter? good morning, i'm ashley webster in for institute varney. let's -- stuart varney. strong retail sales numbers for january. home builder confidence sentiment is going up, and the markets are down about half a percent across the board. all sorts of mixed data for investors to digest and, of course, with one eye on the fed. take a look at the big tech number, alphabet and apple now on the upside, but amazon, microsoft and met a the, meta down 2% so far in the session. take a look at the 10-year treasury yield, it's been right around 3.79, so it's up another 4.2 basis points, always tough
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for those big tech stocks. the treasury yield up to 3.79%. all right, now this, the family heritage alliance promoted the idea that a child benefits from the support of a married mother and father. innocent enough, right? well,s that sent democratic congresswoman erin haley into a spail -- the tail spin. she calls their belief dangerous and un-american. deroy murdock joins us now morn -- this morning. why would she say having a married mother and father is dangerous and un-american? >> yeah. morning, ashley. you always see the democrats talk about diversity and inclusion, and if you believe it, you might say something like most kids are raised by a mom and a dad, and that's a wonderful thing, but some kids are raised by a single mom or single dad, sometimes two moms or two dads, i call that inclusive. when you call families with moms and dads dangerous and
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un-american, that sounds to me like something that's exclusive and, i think, borders on hate speech. it's just remarkable that something that would have been uncontroversial a couple years ago, now a member of the democrat caucus in the u.s. house of representatives as dangerous and un-american, i think it's an extraordinary statement and shows how completely detached today's democrat party is. ashley: lost in space, indeed. another one for you, we've been talking about this all morning, whoopi goldberg apparently just can't tell senators tim scott and rick scott apart. listen to this. >> tim scott, black tim scott, right? 'cuz there are two scotts, and i don't know how to differentiate them without a picture. >> right. >> tim scott is black, right? okay. he's about to run, announced he's running. they're going to be coming out of the woodwork. so don't just settle. ashley: i mean, what is he going on about? senator tim responded in a tweet
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writing: to clear up any confusion, whoopi, despite@scott for florida and i sporting similar hair styles and representing the south, we are two different people. you should get to know me. look, we never look to whoopi gold berg for invicive insight, but -- decisive insight, but what is going on in why the mix-up with whoopi. >> well, i'm a big fan of tim scott not just because we happen to share the same hairdo, but because he's a great free marketeer. if you're a black conservative, the chem the9 accurates won't -- democrats will attack you as a sellout, uncle tom, etc. i think the ugliest thing i ever heard said about tim scott was one of the anchors on msnbc who said if harriet tubman came back and tim scott were there, she would have slaved is -- saved the slaves and left tim scott behind, one of the most disgusting bits of rhetoric i've
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heard in my life. they should say, look, we disagree with tim scott, but he's an honorable public servant, we respect his service to the country. that's not the kind of thing you get out of the democrat party anymore, unfortunately. ashley: yeah, it's disgusting. nikki haley holding her first campaign event odd. she's a strong candidate with a pretty impressive resumé. the chem do accurates coming out saying, well, now it's going to be getting into a messy fight for the maga base with donald trump already announcing. what's your take on this? >> i think we're going to have a more competitive primary than we might have expected a few months ago. i think it's going to be the very good of the debates and competition and not be sort of hiding down in one's base withment as we saw with biden. -- basement. i think the more people who get in and the more debate, discussion, this sort of thing hones the message for the general campaign in 204 the, and the nominee might be donald j. trump, might be desantis, might be nikki haley, might be tim scott, somebody else, but let's e get the ideas out there and let if -- let the republican
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primary voters or pick the best. ashley: what do we have on the other side? a are small bench, to say the least. likely, perhaps, joe biden. but you have a lot of chi namic people on the orr side of the aisle chomping at the bit. it must give the gop some cause for optimism. >> certainly. a lot of great senators, governors and folks like that, glenn youngkin's very impressive, other members of the senate like rick scott, tim scott we already mentioned, and on the democrat side you got president biden with all of his weaknesses, kamala harris is a walking laughingstock. i think a lot of people were looking at pete buttigieg, but we've had airline disasters, train disaster, he decided to talk about more, having too many white construction workers in the work force. so the democrat bench is looking very weak and wobbly right now. ashley: all right. we'll leave it on that point. delaware roy more, do great to see you. thank you very much. all right. let's get a check of these
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markets. as we say, we've been at this pretty much if the same level since the opening bell although the nasdaq doing its very best to try and claw its way back. essentially flat, but we are coming back just a little bit. let's bring in mark tepper. mark's going to be with us for the hour. mark, good morning to you. >> good morning. ashley: look, it's interesting, isn't it? good morning. very strong retail sales seemed to surprise everybody. we just got home builder confidence, that is moving on up. this is an amazing, resilient economy especially from the consumer point of view. how does this play are into the mix as the fed, you know, decides its next move? >> it looks like the fed's definitely going to be her and more hawkish. i think the fed fund futures are pricing in an additional two and a half hikes, think it's probably closer to three to four more hikes and then a long pause before they begin to cut. but it seems like the market with the exception of today, the market has been pricing in, like, this best case scenario for stocks. specifically, a best case scenario for those profitless
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tech stocks that we talk about so much. not a soft landing, but a safe landing that's just bumpy enough to cause a little bit of fear which would then cause the fed to cut rates. however, there's no carnage, there's no casualty. so i think that's what the market's quiting in right now -- pricing in right now which is a lot of hope. the chances of of that specific landing is happening is very hoe probability. so i think with the -- low probability. you've seen the nasdaq outperform the s&p essentially by double so far this year. it's up about 15 versus 7.5. and a lot of that has to do with the expectation that the fed will pivot and cut rates. ashley: it's all about wishful thinking, isn't it? we've had a lot of analysts, mark, on the show that say the bear market is over. do you disagree? >> i do disagree. i think we're going to have one heck of a buying opportunity to buy stocks in the summertime. we will be up against that debt limit. there's going to be some fear and uncertainty.
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i think come june, july i think there's going to be a great buying opportunity. i do, however, think going into the end of the year things will be stronger because the market is going to start looking towards 2024. i'd expect a rebound that year, so overall i think the market ends up positive percent year. but as we're talking about fed pivot, just real quick, ashley, i just want to quantify what needs to happen in order for the fed to pivot. there's only two things, there's inflation and up employment. in order for the fed to pivot, inflation has to be down around 3%, their mandate is 2, but if it were down around 3 and the unemployment rate were creeping up towards 6%, at that point the fed would pivot. so all this guessing game that's going on about when is the fed going to pivot, when are we going to start to see some cuts, it doesn't matter until those two conditions are present. ashley: yeah. and let's be honest, mark, the labor market is still out of whack, right? that's putting upward pressure on wages.
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>> you've got rent, you've got wage, you have got food. and for anyone who's expecting food inflation to come down given the debacle that's happening in the ohio river basin area where you are losing livestock, you're losing poultry, if you're expecting groceries to come down, you're not paying attention to what's happening worldwide. ashley: well, on that happy note, we'll have to leave it there, mark. but you're with us for the hour. [laughter] i want to get to some headlines now. let's start with roblox, up today after earnings beating expectations. they saw nearly 59 million daily users, remarkable, in the fourth quarter. that's up 19% from a year ago. look at that stock go, up 25%. chipotle, expensive rice and beans as stu likes to call them, lawn are. ing a new brand -- launching a new brand starting at the end of the month. formesa fresh eatery, they will sell protein, grain and greens bowls, we are toll. the stock up about a quarter of
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a percent. all right, now this: energy experts are sounding the alarm about energy problems in california. listen to this. >> the california power grid is stress thed pretty much to the limit, and the natural gas power plants which are always the backup have been scheduled to be shut down. ashley: what a mess. you can thank the green energy push for all of that. we're going to have more on the story coming up. also, white house economic adviser cecilia rouse claims the inflation and jobs reports are showing the fastest recovery in 30 years under president biden. congressman max miller is here to respond to that. and people in eastern ohio living in fear right now after that toxic train derailment that sent flames and thick black smoke into the air. the governor insists it's safe for people to go home, but some residents say they just don't believe him. we'll have that next. ♪ ♪
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ashley: residents of eastern ohio are now living in fear after that massive train derailment that released hazardous chemicals into hair the town. garrett tenney, this morn, is in east palestine, ohio. we're hearing about people getting sick, animals dropping dead, just awful stuff. what's the situation now? >> reporter: yeah, ashley. we are hearing from a lot of folks that there is just a real sense of distrust for officials at every level of what they are telling residents, that it is safe to come back here. it is safe to be here. they are being told that the air, the soil, the water samples are coming back with very little, minimal or no levels of
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toxicity that would be dangerous to health, but they are living a different reality. and what is notable that we heard a lot of these or concerns about the lack of trust and the lack of answers just a little bit after ohio governor mike dewine held an hour-long press conference yesterday with experts from a host of state agencies to try and clear up a lot of questions and concerns that are out there. the head of the county of health said those -- the county9 the of health said those who live here should feel confident that it is safe to come back and to be here. >> look, we have got very good data as it relates to the air quality. and i i think people can feel very confident in that fact coupled with the fact that there continues to be air monitoring. >> reporter: he also noted though that the state still doesn't have the test results for a number of private water wells in the area. last night multiple people we spoke to said one of the reasons there's a lot of distrust is that officials were so quick to declare the town is safe while
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there was and still is so much we don't know. and a lot of folks who live here were seeing is and still are seeing and experiencing side effects associated with the chemicals that spilled. >> to be honest with you, i do not feel anywhere in this town is safe. >> we're not safe. tell us the truth. that's all -- >> i will not live in this town. i will be moving. >> i'm not stupid. none of us are. don't play us. the railroad covered up nasty dirt to get those trains running. st t about thal almighty -- the almighty train and for them, not for us. they're not about us. >> reporter: and tonight we're expecting to hear a whole lot more of those concerns at a town hall here at the high school. and there's been so much interest in this town hall that we were recently told that they have changed the format to make it more of a q&a session with booths set up around the gym rather than allowing folks to come up to a podium and raise their questions and concerns, because city officials realize
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that that would just take too long because of how many people are going to be there. ashley? ashley: yeah. and a lot of questions. garrett ten tenny in palestine, ohio, this morning. garrett, thank you very much. i want to bring back in mark tepper. you live in ohio, i don't know how close you are to east palestine, but what are you hearing about situation? >> so, yeah, ashley, i'm about 50 miles from east palestine, so i would be in the yellow area where it's not ground zero, per se, but it's still an affected area. what i'm hearing so far is probably the biggest slap in the face to ohioans, specifically those from east palestine, is the lack of a coordinated response. we have migrants right now living this hotels. all of these people, we're told, go back home, don't drink the water, drink bottled water, but, yeah, feel free to cook with that water, shower in that water, you should be okay. and you're hearing from person after person that they're not feeling well. they have headaches or stomach
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aches or whatever it it might be. livestock is dropping dead. there's dead fish in the water. so i think the biggest issue right now for those eastern ohioans is just the lack of a coordinated, a coordinated response, the lack of people who are empathetic enough to go there and really try to affect some change. i mean, this looks like a chernobyl kind of situation, and we're just trying to sweep with it under the rug. it makes no sense at all. ashley: yeah. of you mentioned coordination and, mark, thank you very much. transportation ec air the pete buttigieg -- secretary -- waited 10 days before addressing the train derailment and, of course, this has create ecs slamming him saying he's once again leading from behind. congressman max miller, the republican from ohio, joins us now this morning. congressman, this is just the latest complaint in a long list against mr. buttigieg, right? >> well, this man can't keep his own department under control, and he can't keep himself under control as he acheses two months off for, you know, parental
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leave. stuart, i'm just glad you're addressing this issue. my office cants to closely -- continues to closely monitor the train derailment and the chemical spill. environmental testing is ongoing to insure people are going to be okay, but i am a skeptic, and i listen to those constituents, and i hear them. because if this happened in our backyard in ohio's 7th, i would be skeptical as well. i would be skeptical of people telling me that a nasty, deadly chemical had a controlled burn that went all over that area and now all of a sudden it's okay to shower in that water, cook with that water, and they're being advised for the most part to drink out of bottle9 water. i am am a sentic. -- skeptic. there needs to be more time. we'll continue to monitor this issue to the make sure that every ohioan is going to be okay and safe. and is who working with congressman bill johnson on this issue, it's in his district, he's going to take the lead on this, he's a great man, and we will see this thing through. i hear those constituents, i
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have the same skepticism that they do. ashley: right. i have another issue for you, congressman. certificate keel ya concern cecilia rouse wrote an an op-ed claiming that inflation and the jobs report show that the fastest recovery in 30 years is awayway and thanks to president biden concern underway and thanks to president biden. congressman, people are feeling the pinch. inflation is high. i mean, is she missing manager here? are we missing something? >> the national news media's missing something in that it's the greatest superpac that president biden has. i woke up this morning, stuart, the first article that i read was in the "wall street journal," and it said maybe americans should skip breakfast to save money. this is joe biden's america. this is what the american people are waking up to. this man continues to paint a rosy picture about our economy. i'm sorry, inflation is still over 6%. the average constituent in my district makes anywhere between
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clash 58,000-62,000. with inflation over 6%, the majority of these individuals putting $10,000 on their credit card. they're not going to be able to make ends meet, and that's going to compound in an 18-25% interest rate that they're not thinking about because they're looking at it as a lope. ashley: right. >> credit card debt has gone up substantially in this country that this administration refuses to talk about as well as other americans, and that is why republicans are finally going to be responsible and to crease our national debt and to finally cut up the maxed-out credit card that has been maxed out for now several years. ashley: exactly. we'll have to leave it there. congressman, thank you so much for taking the time to talk with us this morning. we do appreciate it, especially on the latest in ohio and the train derailment. all right, let's take a look at the markets very quickly for you. earlier we saw the nasdaq trying to turn it around a little bit. the nasdaq actually gained some ground yesterday. the dow was up 150 points yesterday and down 125 points again today, the s&p down a
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third of a percent. mutedly down, is 40 -- how we're going to describe can it. now this, we are learning more about apple's pay later service which will allow customers to buy now and pay later. turns out it will rely on your previous purchases and spending hasn'ts -- habits to decide how much they will lend you. retail stores, app store transactions and even peer-to-peer transfers using apple cash. okay. mark, come in on this. what do you think about that? >> well, look, i mean, apple obviously has access to a lot of data the including everything that's in your apple wallet, so they can look at the credit cards you own, whether or not you have the apple card. so it's certainly potentially a privacy issue. but, you know, i'm not a big fan of this move overall for apple. if you look at affirm as an example, affirm is a buy now, pay later company. they're expected for this fiscal year to do clash 1.5 billion --
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$1.5 billion in revenues and lose $1.1 billion in earns. this seems to be -- earnings. this seems to be more of a loss leader or cost center kind of business for apple,. consistent the make a lot of sense. and -- doesn't make a lot of sense. and to be completely honest, the play might be encore capital, ticker ecpg. we do not own it, but they buy receivables for penny ifs on the collar, and then they hire a guy like dog the bounty hunter to go find you and get you to pay. [laughter] ashley: it because seem a strange business for apple to be getting into with. mark, thank you very much. now this: senator dianne feinstein's office announced she will not run for re-election in 2024. question is, no one apparently told her, they forgot to tell the senator. roll the tape. >> finally announced you're retiring. >> oh, no, a i'm not announcing anything. >> no? ashley: well, guess what? she is, indeed, retiring. we're on that story. ford is investing $3.5 billion
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♪ get ready, so get ready ♪ ashley: now, that is a wintry scene. you're taking a look at salt lake city, utah. 25 degrees in salt lake right now. it's winter in the west and spring in the east. 60s maybe in new york city today. all right, let's take a look at the markets for you. we've been down across the board, modestly so, since the opening bell. we're still there although the nasdaq desperately trying to urn the it around. the s&p down about .2 of a percent. susan li has been watching all the market action, she has some of the movers. let's given, susan, with the high-tech stocks. i'm susan much better january retail sales numbers, and that
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shows that the economy might be strong enough to avoid a recession even if rates continue to grow up. also result -- go up. also results from airbnb and palantir making money in the final three months of last year. that tells the wall street these high growth but largely unprofitable tech stocks are now focusing on the bottom line, and that's encouraging as we await roku result, shopify earnings tonight which should show smaller losses for both. wall street positioning for better report cards and numbers from both of these names tonight. meantime, on the flipside you have some of the best perform ors on the year so far, the chipmakers, invade vid ya, amd, marvel, and they've outperformed just eight weeks so far in this 2023 calendar year. nvidia is up 60%, and one of the most famous investors on wall street, unveiling a new $80 million bet on nvidia which many think will be the biggest winner or in artificial intelligence, the a.i. race, and he also
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bought up some amd as well. marvell also bought up by the same amount and all of them up on this a.i. cloud hype. taking a bit of a breather today, but big gainer so far this year. and finally, we saw tesla is back up 1.33%. it was, those gains were capped after news they might be halting some china production at the end of this month in order to upgrade the model 3 line in shanghai, opening up 7500 charging stations for everybody, 3500 of those superchargers will get you boosted in an hour. look at lucid, rivian, quantum scape, all up and up on the news by multiple percentage point gains there. ashley: electric cars are flying, now, that would be cool. thank you very much, susan li. now this, senator marco rubio is call figure a review of ford's clash 3.5 -- $3.5 billion investment to build an ev
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battery plant with funding from china. jeff flock, what exactly does rubio want to know? >> reporter: you've got to drive before you can fly, first of all, ashley. but what he wants to know is some concerns about that company that ford is partnering with, with this new ev battery plant in michigan. it's a great thing, 2,000 plus jobs, but the company called contemporary amporex technology, it's a chinese company, and he has concerns about the company's ties with the chinese communist party. fox digital today is reporting on ties between the founder and ceo of that company with the ccp. and so he has some questions about that. he's written a letter to the secretaries of treasury, transportation and energy. in it he says, and i quote him now, i am alarmed at ford's plan to establish a large michigan-based factory, structures a wholly-owned subsidiary that licenses its tech from catl.
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i demand that no federal funds, especially monies granted via the inflation reduction act, go the enrich catl or any other beijing-supported company. ford says, hey, you know, a lot of companies do business with china, this is no different. their response, ford will maintain full control of this new battery facility which will be wholly owned and controlled by ford with no foreign investment. this all comes as ford is having some difficulties with its electric pickup truck, unspecified difficulties to us at least. they've halted production though as they check out whatever that problem is. susan had the probably best news for electric vehicles today, and that is the news on those superchargers. soon you'll be able to take your ford ev or your gm ev or whatever to a tesla supercharger. those things are are tremendously popular, ashley, spend a lot of time at them. as susan said, there's about 3500 of them out there. ford also, here's one new piece for you, they're working on a
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cable that they say in short order will be able to charge your vehicle in the same amount of time to gas up, five minutes or so. not available yet, but heir working on it. and, actually, those new batteries are key to that potential. if we'll see how it all shakes out. bumps in the road where you're running an electric or a gas-powered vehicle, bumps in the road. [laughter] ashley: anything that can reduce range anxiety, jeff flock, i think that's a key thing. range anxiety. jeff flock, great stuff, as always, jeff. >> reporter: anxiety over a lot of things b but yeah, there you go. range. [laughter] ashley: energy experts are sounding alarm about california's power supply. listen to this. >> the california power grid is stress thed pretty much to the limit. the capacity of the, our ability to import energy as well as our ability to generate energy from renewables just isn't there. the storage isn't there or the
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transmission lines as well. ashley: the vice chair of the california state senate's energy committee is brian doll and, thankfully, he joins us this morning to talk about it. senator, let me ask you this, are green energy policies pushing california essentially to the to the brink? >> yeah, well, there's several reasons that california has difficulties with energy. number one, the biggest power provider in california is pg&e. they didn't take care of their lines, they've burned down many of our communities, gave that money to their stockholders. and secondly, we've moved to this energy, green energy, at the same time reducing gas plants in california. so our grid is antiquated, we're getting off of gas which we use to produce that energy, and then we're going green at the same time. so in some times in california we overproduce green energy and actually have to sell that to other states, and other times we're short. so our grid's in peril. on top of that, gavin newsom
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came up with by 2502035 we're going to be charging -- 2035, we're going to be charging all these cars, 30 million cars in california with electricity that we don't have. ashley: right. and certain times of the day when you're not allowed to, you know, juice up, as say -- they say. i want to move on to this next story, senator dianne feinstein's team just revealed she's not going to seek re-election last year, but it seems as though someone forgot to tell her. listen to this. >> -- you finally announced you're retiring. >> oh, no, i'm not announcing anything. >> no? >> i will one day. >> you will? thank you, ma'am. not too far away. thank you, ma'am. ashley: well, a staffer quickly correcting the 89-year-old senator saying, quote, senator, we put out your state. confused, feinstein said, you put out the statement? i should have known they put it out. bit of a mess, to say the least. brian, i guess the question i'm going to ask you is, would you
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consider running for her seatsome. >> well, my problems actually as a business owner in california are california, that's why i ran for golf. i actually know -- for governor. i actually know diane fine ion einstein, have more access to her than i do gavin newsom. but i'm focused on making our grid work here, i -- the california dream is actually a nightmare so, no, i'm not planning on running for her position at this time. ashley: got it. yes, stu calls california the formerly golden state. it's very sad, what's been going on out there. thank you so much for joining us this morning, we do appreciate it. now this, the largest u.s. tourism and travel destination was just announced and, no, it's not new york. we'll tell you which city made the cut. because it have palm trees many it? we'll find out. lawmakers are demanding answers about last month's computer out outage that led to the first nationwide ground stop since 9/11. the acting head of the faa was in d.c. getting grilled on
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and unlimited payroll. ♪ ♪ ashley: taking a live look at paris, and we're playing that music because, guess what? you can spend the night in the theater that inspired the phantom of the opera. it was just listed on airbnb, and get the, it only costs about clash 40 a night -- $40 a night. the package includes a tour of the theater, dinner and champagne. $40 is cheap. of course, travel to paris not
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included. by the way, if you'd rather stay in the u.s., you might want to consider orlando for your next trip. it was just named the largest travel and tourist destination in the country. orlando, by the way, took in more than $31 billion from tourism last year, that is about 20% ofty's gdp -- of the city's gdp. what about vegas? it was the second most popular destination. sin city made $23 billion from tourism last year. but orlando, number one. now this, lawmakers are grilling the acting faa chief over system outage that grounded all of those planes from coast to coast last month. connell mcshane has been diligently following the hearing all morning and,com, what cud --com, what did the chief say, and has the agency made any changes since that outage in. >> reporter: he's talked about modernizing and they're in the middle of modernizing, he's talked about being more resilient, that was phrase that was used a few times. i mean, they're pressing him on
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this system, this alert system, and this is billy dolan, the acting chief of the faa. it's called notice to the air emissions, notemss the short version, and, you know, pilots have, they see an alert before they take off from are this system, and they have to follow along with that. it could be something as simple as the runway is icy or there's some sort of restriction on travel, on air pace just like there was -- air space, just like when the military shot down that chinese spy balloon. the problem with the system is it's old, and there are reports saying that the move to kind of modernize it and to phase out some of the old equipment has been put off and put off for years. >> when we think about the age of our system and the age of the systems we have, we do have redundancy there. could i sit here and tell you there will never be another issue on the system? no, sir, i cannot. >> reporter: not exactly reassuring there when you
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consider some of the recent incidents including that fedex cargo plane, of course, that came very close to colliding with a southwest passenger jet in austin, texas. matter of fact, senator ed the cruz a -- ted cruz a few minutes ago played what was a simulation of that incident, a video simulation. it showed the fedex plane trying to land before heading back up at the very last minute leading to this response from dolan. >> it is not what we would expect to have a happen, but when we think about the controls, how we train both our controllers and our pilots, the system works as it's designed to avert what you say could have been a horrific outcome. >> reporter: sure could have been. just barely averted what could have been a horrific outcome. that bus some of these other near misses and, of course, the nationwide ground stop that you talked about. plenty of questions are being thrown at the acting head of the faa. they say heir working to modernize this, but a lot of this equipment's really, really old, ash ily are. ashley: yeah.
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not exactly comforting, is it? connell mcshane, thank you very much. appreciate that. let's take a look at the 30 stocks very quickly on the dow just to get a sense of where we are. we're off about modestly, down 70 points. apple, caterpillar, home depot on the top. at the bottom, sorry, stu, microsoft, chevron and j&j, johnson & johnson. but overall, the market down just .2% at least on the dow. all right, take a look at this, first generation factory-sealed iphone. it could sell for more than $50,000 at auction. collector's item. we're showing that off along with some other really cool pop culture 34e78 -- memorabilia next, don't go away. ♪ hey, i just met you and this is crazy -- ♪ but here's my number, so call me maybe ♪
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during rehearsals. both baldwin and the movie's weapons supervisor have been charged with felony involuntary manslaughter. no working weapons or ammunition will be allowed on the set, and in case you're wondering, yes, alec baldwin will continue to film. so that's an update on "rust." all right, now on to something pretty cool. we've got some interesting pop culture items to show you that are up for auction. mark montero of lcg auctions will join us to tell us all about it. let's start with the never been opened, first edition iphone which i find interesting, fascinating, if you like. how much is that that expected to go for? >> so this is the very first edition from 2007. now over 15 years old. it's factory sealed, it's brand new. our consignor received it as a gift for a job promotion. she put it away because she had service with another carrier, so fast forward to now, bidding is
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already at over $22,000 inclusive of buyer's premium, and we're expecting $50,000 or more for this one. ashley: wow. impressive. all right, let's get into this one, it's a heman action figure from 1982 -- he-man, which is maybe 40-something years ago. >> yes. over 40 years old. this one has an original price tag sticker on it of $4.99. [laughter] there were millions of these made. pretty much every one has been opened, is so very few have been preserved. what we're seeing is that these items that were never intended to be collectibles have become very collectible. and we've seen a surge in value increases. we're expecting between $20 the-40,000 for this one. it's the best he-man action figure that we have ever handled. ashley: it's amazing.
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all right. let's move on to a g.i. joe character, snake eyes action figure. tell me about that. >> this one's from 1983, snake eyes is the most popular g.i. joe action figure. about a year ago we sold a similar g.i. joe action figure for a record price of over $37,000. this one's a rare explosion-back variant. you can see the back. with the coming soon characters. [laughter] we're expecting in excess of $25,000 for this. ashley: wow. and i want to get to one that "star wars" fans will love, is it bone bone baa -- boba fett figurine? >> yes, bone bo -- boba fett, one of the most collecting bl action figures. it's early release, it's actually a canadian release. very rare in this condition. we're expecting between $15-25,000 for it.
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ashley: does it say may the force be with you, eh? i'm sorry. had to throw that in. [laughter] great stuff, mark montero. it's fascinating to me, you know, the prices people will pay for these pop culture items. thank you very much, sir, for joining us this morning. all right, before we head to the break, we've got to do this, it's the wednesday trivia question. and here it is, even though it was valentine's day yesterday, we continue the theme. who invented the first valentine's day candy box? richard cadbury, milton herr she, russell stover or ferraro? think about it, the answer right after this. f ♪ee ♪ i'm bill lockwood, current caretaker and owner. when covid hit, we had some challenges like a lot of businesses did. i heard about the payroll tax refund, it allowed us to keep the amount of people that we needed and the people that have been here taking care of us.
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♪. lauren: all right, earlier we asked you who invented the first valentine's day candy box? look at the choices, cadbury, stover, hershey, ferraro. what do you say mark tepper? >> cadbury i think is easter eggs. hershey is too obvious. i will go with number four, ferriero. lauren: i did the same thing. the answer is richard cadbury. i thought it was made-up name. came up in 1868, used his own paintings to decorated liz. i'm useless at trivia. mark tepper, thank you. we're out of time. guess what? "coast to coast" will start right now. >> you got all these toxins, all the chemicals,
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