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tv   Varney Company  FOX Business  March 9, 2023 11:00am-12:00pm EST

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the more you learn the more you want to know, and then it just fuels that fire. it filled my soul to be honest. explore your family story at ancestry.com steppe gold, mongolia's premier precious metals company, is an action-packed expansion story, expected to deliver superior returns to shareholders. steppe's low-cost production is steadily growing at their flagship site, projected to be more than 100,000 ounces of gold annually. the company's fast-tracked phase 2 expansions, and ongoing exploration work support growing the mine life past its current 12.5 years. steppe gold. labeled terrorist groups and these people killed more americans than isis. this administration needs to hold people accountable. >> talking about corporate tax increase.
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that doesn't hit businesses. that hits workers and hits shareholders, retirees, dead on arrival and he knows it. >> now the republicans have majority in the house and they'd be taking people out on stretchers if they voted for this. >> washington doesn't have a revenue problem but they have a spending problem. i'm not holding out a lot of hope for this. stuart: it is thursday, march the 9. let's get state to the money and check the markets, please. we have a 92 point gain for the dow, 46 up for the nasdaq. big tech all over the place. actually mostly higher. microsoft is up nearly 2%,
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amazon, alphabet, amazon and apple all on the upside. look at 10-year treasury yield and 4% earlier and now 396, 97, that helps the stock market. now this. it wasn't that long ago that a job with big tech was the best job in the world. times change. virtually every tech company has announced layups. hundreds of thousands of mostly young techies have been pink slipped. it's quite a turn around for those peep. who would have thought even a year ago so many would have been let go. and if you still got your job in tech, many of those perks are going, going, gone. fascinating article in "the wall street journal" about the disappearance of the goodies that enticed workers to big tech in the first place. facebook ended free laundry and dry cleaning. no more to-go containers so employees can't take home the free food. sales force, no more fansy
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baristas in the -- fancy barristas in the office and owe ya retreats and no more month long paid se sabbatical for certain employees and across the board. free food, massages, berth kays off and out the door, they're gone. those bars and game rooms, which some employees used to entice workers back to the office, mostly gone. what's going on here is a revreversal of the employer/employee relationship and the boss is exerting authority. it's inevitable. if profits stagnate and hired too many people in the first place and you cut back on the people and perks. next battle, one that's being fought right now, is the status of remote work most bosses with the them back in the office and that will upset a lot of young techies. this is a very fast turn around in employment and it's a pandemic, it is the pandemic, and a squeeze on big tech that's done it. third hour of varney just getting started.
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dan ives with me this morning. would you say -- still say that a big tech job is the best job in the world, dan? >> look, i think hyper-growth, ultimately the clock struck midnight and hearing you talk about a lot of the perks beyond what everything else is starting to be removed because tech companies are ripping the band-aid off and cutting costs and now you're starting to see more move away from big tech in what's a deaf gnat transformation. >> they're not going back and perks aren't coming back, are they? >> that's part of the problem is that a lot of employees are in the certain type of environment and now all the sudden is where the firms are under pressure and you're starting to see pressure in the environment t the first
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time they'rending money. stuart: the university of hard knocks and you often told us about cybersecurity and the sire security stocks you -- cybersecurity stocks like you've mention have had gone straight up and have we missed the boom on cybersecurity stocks? >> i think we're only halfway there and the double table pounder and thinking the crowd strike ordering to another one and names with golden age for cybersecurity and that's a rock that's on certain tech environment and that continues to be the favorite sector. stuart: dan, stay there and more subjects and i want to talk apple and bring you into it, dan, believe me. apple teaming up with snoop dogg for a new project. what are they doing and why should i care?
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lauren: they're front pushing vieding artists, munitions and -- musicians and artists more say and control over their content and former apple executive music icon larry jackson and he's the brains behind this company and hearing more about it and they've signed artists like snoop dogg but also usher and rick ross. stuart: i'll take that. having impact on the stock however they felt dan, snoop dogg is that a good move for app and will making any difference to bottom line? >> it's a smart move because ultimately what cook's doing and he's on the aggressive now, you think about streaming on the service and unstreaming in terms of tv and remember services overall with 1.2 to 1.3 trillion and they're holding back spending and cooper tee know continues -- cupertino is another smart move. stuart: thank you, dan.
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a new poll finds only 40% of people think being called woke is an insult. that's incredible to me. 32% think it's compliment. thank god. who are those 32% that think being woke is a good thing? >> there are people propagandized in the socialist factories we call colleges. older millennials, they're in their 40s now and they went through that system where they were indoctrinated and told you have to use a certain set of words and you have to lose a certain set of words. we no longer can be word smith and we can no longer be creative with how we describe things or express ourselves. we also see that in a lot of censorship of different authors, whether it's ian flemming, ronald dahl, r.l. stein and
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there's a large group of people largely natural oppress sores due to color of their skin and came up with the tomorrow to say you are bad people. you're horrible and don't understand social injustice. now people who created the term like woke is stupid. like stop trying to make woke happen. you gave us the term. stuart: i get the impression that wokism if you want to call it that is on the decline. the tide's turned. agree with that? >> okay, look at a place like florida and ron desantis is making this case across the country is florida was open, schools were open and businesses paloer taxing and housing more affordable and people can drive. look at places like portland, oregon, this distopian hell hole and that's what you're pushing. this is completely wrong. stuart: on the subject ophryon
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desantis, governor of florida, he wants to send a boat to bring djokovic from the bahamas into florida. it's kind of a joke. >> is it really though? it's a great idea because these arbitrary, outdated vaccine mandates bar unvaccinated foreigners from coming into the country. you could have one johnson & johnson vaccine from two and a half years ago and as a foreigner you're allowed in the country. novak djokovic has a better form of protection because he's had covid but he can't play here and it's ridiculous and stupid and let him go for the record. he wants to play and fans would pay to see it. stuart: california govern eric newsom took personal -- governor knewsome came back and allowed back in and he's a u.s. citizen and then he was declared positive for covid. the irony. >> of course he was. he did what ted cruz did and left when his state was under a deluge and state of emergency declared in state of california
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that had not seen snow in decades and where is he? he's dancing with mariachi band topless. stuart: keep on with the theme topless, it'll be newsom versus desantis when it comes to presidential election campaign. is it going that way? >> both of those people would love for that because it's a new generation for both parties. but i have lived in california most of my life and i will tell you what's going on there is not sellable. high taxes, high crime, rampant homelessness and those are the best parts of the state. stuart: even if he's nominated, i cannot see newsom winning the presidency. how can a california liberal with a large -- almost a failed state on his hands. how can he attract votes to the rest of the country? >> that's the problem. in california it's a mono party and float up through the system without trying and there's not a lot of real pushback and kamala harris was a product of the same system and they're not challenged intellectually or
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politically in the state and they end up huffing their own hubrus and they think they're winning. >> they win time after time after time. stuart: we'll be watching your show kennedy, 7:00 p.m. eastern here on fox business. now this, joe rogan opened a new comedy club in austin, texas. it's called a safe space for the anti-cancel culture crowd. we'll tell you all about that. the director of fbi sounding the alarm about tiktok. roll it. >> this is a tool that's ultimately within the control of the chinese government and to me it screams out with national security concerns. stuart: he comes right outrebounded and says beijing could use tiktok to interfere here in america and got a report on that. calls growing for the u.s. to take military action against the cartels. some republicans want to declassify -- reclassify them as terrorist groups. former texas congresswoman mayra
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flores on that next. ♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. with a majority of my patience with sensitivity, i see irritated gums and weak enamel. sensodyne sensitivity gum & enamel relieves sensitivity, helps restore gum health, and rehardens enamel. i'm a big advocate of recommending things that i know work.
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life causes a lot of stress. i ate a lot for stress. golo and release has helped me with managing that stress and allowing me to focus on losing weight. for anyone struggling with weight and stress-related weight gain, i recommend golo to you. this is a real thing. this is not a hoax. you follow the plan, you'll lose weight. stuart: the markets this morning, the dow is now up just 64 points and the nasdaq is up 46 points so the rally has faded a little. i'll bring up a name from the distant past, general electric, which is moving significantly, 8% higher. lauren: near a five year high and they reaffirmed their guidance at investor day today and the catalyst is their first long term growth target being given for the aviation business because many people are flying.
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they demand an air travel and that's one of the reasons why they're so bullish for the future. stuart: ge is back. lauren: they're back. stuart: general hoe torrs, no lay -- general motors but no layoff. >> they're offering voluntary buy yachts and based on number of years for service and eligible employees they didn't state a number but this is a way to save $2 billion as they said they want to save without necessarily having to layoff a worker. j that's the saving there. see sackmary and mastercard and what's the story. story. lauren: devising code to track purchaseif mexico want help to
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blow the dam labs up. stuart: former texas congresswoman mayra flores joins me now. mayra, do you want america's military to go into mexico and sort out the cartels? would you want that? >> yes, i'd want that and i'm from the state it has the mexican people terrorized and killing americans as well and bringing poison into the country ask killing our children and now they're killing us in mexico.
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this has been happening for a long time. stuart: whether or not there be a significant reaction if america's military, seal team 6 for example soweddenly appeared in mexico and knocked off some mexican cartel leaders? what would be the reaction to that in mexico? >> well, that shouldn't be the reaction of the mexican government and that should be our last resort. we should be working with the mexican government and if they don't want to end the mexican cartel, that says a lot. mexico is a beautiful country with beautiful people, people of faith, people of family and hard work. they don't deserve to live in fear every single day. i have family that i can't visit because i'm afraid. why would i want what i'm afraid of to come here to the united states? stuart: you would not feel free to go back to your home state now because you're a former congressperson or because you're a american? what is it?
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>> it's all. i haven't been -- haven't visited mexico because of the criminal organizations that have now been more empowered because of the biden administration. his policies encourage people to come here to the united states illegally knowing that no one can cross illegally into the united states without paying the mexican cartel. just a few days ago, the mexican cartel killed immigrants for not paying them. they're fully in control of the border. they have no respect for human lives. they're raping and abusing women every single day and no justice. stuart: m mayra a federal judgen texas rule that had biden's using parole to mass release migrants into the u.s. is unlawful. in his opinion the judge says the white house has "effectively turned the southwest border into a meaningless line in the sand and little more than a speed bump". he wasn't mincing his words at all, was he, mayra? >> right. you're absolutely right.
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you know, my husband is a border patrol agent and i took the safety program that now i'm constantly worried about him and all of border patrol agents. they're exhausted and there's only so much they can do. they're not able to track down everyone coming into our country illegally. right now we have people from russia, from china coming into our country. that worked with the russian government and the military. that work with the chinese government and have some connection with the chai mohs military and these -- chinese military and they're being released into the united states and we expect them to come back on the court date. are you serious? they're not coming back. criminals don't come back. stuart: they don't. that's understandable. the border crisis is a big issue in the next election. will it sway latinos to vote republican rather than democrat? which way is the wind blowing? >> it did in '22 and it will continue. the democrat party has abandoned
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the hispanic community. stuart: mayra -- >> and the american people. stuart: i'm afraid i have to leave it there. i have a time problem for myself here. mayra flores, thanks for joining us. hope you can come back and see us again soon. thanks very much. >> thank you. stuart: i want to get to joe rogan's cancel proof comedy club. would i know any of the performers? lauren: roseann barr. she's part of the opening lineup and it's comedy mothership in austin, texas. being hailed as a safe space for anti-cancel culture crowd and tickets are affordable at $40 if you can get them and more on the resale market. forfeit phone at the door and have have your face scanned. stuart: why? lauren: probably security to know who's there. stuart: thank you. now this, your chance to live like ted lasso. watch this. >> i always figured that tea
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would taste like hot brown water. you know what, i'm right. it's horrible, no thank you. >> welcome to england. stuart: the famous pub from the show is now available to rent on aiairbnb and only costs you a couple bucks per night. my next guest has a warning on all out ban on tiktok and could set a slippery slope and dan dangerous free speech precedent on social media. that's next. ♪
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stuart: this day in history american built. on this day march 9, 1964, the first ford mustang rolled off the assembly line and starting price, can you guess? any idea back then? i'll tell you, $2,368 out the door. back to the markets, please. we have green but not that much. a lot of selling this week but
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this morning a little buying and show me silver gate and come in, susan. silver gate back and shutting down. what's the mark? susan: great show and great is statistic, the mustang. inflation adjusted from 1964. stuart: what would it be now? $60 grand now? susan: at least, probably 70, depends. you gone debt if for the basic price. silver gate prewarn they might go out of business so you kind of already sow that knee jerk reaction in bitcoin and ether prices still sub $2,000 and logical for bitcoin prices. you were going to say something. stuart: no. susan: okay, but the good thing in the entire crypto market is silver gate is giving all the money back to customers so everybody gets to be made whole and silver gate in ftx collapse
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and sam bankman-fried and his exchange and they barely, barely survived that bank run in the weeks after ftx's collapse and loans and debt and silver gate at the peak was over $200 and now a $3 stock. as a result of silver gate's collapse, you have other banking news, jp morgan, ending their relationship now with warning there's a lack of banking partners for crypto to work with and not much liquidity and can't sell bitcoin right away to raise cash and companies might go out of new york. headline be made everywhere and jp morgan trying to sue, claw back and sue and claw back and pay from former private bank daily allege the inappropriate
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relationship with jeffrey epstein and we should be concerned about what's happening in bank bankerring and credit ss is one of the largest in the world and survival being questioned after delaying annual reports with fcc questions over accounting in 2019 and 2020 before covid. also want to throw in silicon valley bank and the stock down 41%. they're now being forced to race almost $2 billion in capital just to stay alive because of losses from security sales, bad security sales and dry up when it comes to venture capital activity. talking about 2008 and keep the context and not 2008 but concerns over banks. stuart: very interesting and big banks not looking gate, some of them at the moment. susan, thank you. fbi director christopher wray says tiktok screens users. >> could they use tiktok to screen million was data user s?
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>> yes. >> could they use to control data on devices? >> yes. >> use it to drive narratives like to divide americans against each other? >> yes. stuart: that's a significant intrusion. by the way, the white house supports a bill that could lead to complete tiktok ban in america. carl szabo with us and runs net choice and tries to make the internet safe for free expression. carl, you don't think we should ban tiktok? make your case. >> yeah, thanks for having me on. if you listen to that clip, did christopher wray present a single piece of evidence? no, every sentence started with could or may be able to. that's not how we operate here in the united states. we operate on facts and figures and evidence and not fiction and innuendos and it's called the restrict act and could ban tiktok. ban is a rally powerful word. that's -- really powerful word and we hear that in authoritarian regimes and ands new power over to the white
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house and biden administration would support it to be able to decide what websites we can visit, what apps we can use. that's really scary. that's violation of the first amendment and incredibly slippery slope onto controlling what we can see and what we can learn on the internet. that's where the danger lies. stuart: but let's follow this through. supposing there was a complete ban on tiktok, there could also be later a complete ban on truth social or on parlar, am i right? >> absolutely. the justification against the ban of tiktok is there's no evidence to be shown. if there's ed, let's look at it. it's a threat, potential threat. remember there's a lot of democrats out there saying that for example truth social is potential threat of another january 6. it's not a far leap to expect this biden administration, given this type of power, to start banning apps and websites it doesn't like.
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remember this is the same administration that told us we had to mask up a few years ago, live in our houses and we couldn't discuss the origins of covid. sot idea of controlling the narrative is very much in the vein of what this administration does. but simultaneously -- go ahead. stuart: sorry. we had a report and we broadcasted it yesterday as someone that posed as a young man, 13, 14-year-old boy, went on tiktok and was immediately presented with all kinds of suicide idea and drug taking ideas and masochistic ideas and all from tiktok because he identified himself as 13/14-year-old boy. we don't library that, do we? >> no, that's absolutely horrible. in fact, we have lawsuits at net choice against florida and texas that have laws that would require tiktok to keep that content up and accessible. these companies, these businesses are constantly trying to remove that type of content.
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by the same token, this is america, this is individual liberty and i'm a parent, my wife's a child therapist, we decide what's best for our families. we decide what is best that -- what apps we can use and websites they can access. ultimately that's our role as parents. it's not the role of government. what we're seeing is this slippery slope towards a nanny state and any time something's hard and something that could be dangerous, we ask the government to ban it. remember, this is the same thing as banning soda, this is the same thing as banning fast food. neither of which are particularly healthy for us but both of which are accessible and free for us to make the choices we want to make. stuart: personal question if i may, do you let your children on tiktok? >> both of mine are under the age of 13 and you know what, tiktok says it's not appropriate for them. if they show the maturity and the developmental
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appropriateness, we have those conversations and it's that conversation and that's probably the job we sign up for. >> fair enough and interesting point of view. attorney general made a shocking claim about how easy it is to buy drugs on social media. lauren: he says it's as easy as calling an uber just like that. drug dealers have these drug menus if you will on social media. code words, we wouldn't get them and kids get them and drug dealers get them and they circumvent the social media platforms of filters so no essential media says you can't sell on the platform and kids that don't have friends online and befriend them and make them feel important and say i'll make you popular. why don't you sell drugs for me? this is actually happening and, yes, the social media companies have the enforcement policies and know some of this is going on and they're vague about what they can and are willing to do
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about it. for instance the dealers can advertise their drugs via emoji on snap chat and offline to another network to take payment for the drugs for instance. should there be a data sharing arrangement between the platforms because this is where 13 year-olds are buying fake pills that are killing them. stuart: that's fascinating. lauren: it's awful and too easy. any parent has to take care of that. stuart: workers laid off at tech companies, why are business schools trying to get to them? lauren: increase enrollment and some are waiving requirements like the gmat and fees and get laid off workers with experience to apply. you know at first i was like that's not fair. i take the gmat and you have to prep. then some of the best colleges are test behind when it comes to
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sat or test optional so are we just completely getting rid of standardized testing? stuart: looks like it. lauren: as the measurement to gauge students across wide backgrounds. looks like it is right. stuart: not necessarily good in my opinion. thanks, lauren. standard workweek for four days or 32 hours. what would that do to the cities that are already struggling with so many people working remotely? cot a report. home affordability lower now than it was at the peak of the 2008 housing bubble. after that it was the peak of the depression in housing and depth of the housing crash. american dream turning into american pipe dream flash and more after that. ♪
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♪ stuart: i was in college in london 50 years ago and haven't been back in the last 25 years. how about that? 51 degrees in london want how ht that? drink in my hand and we're playing that song for a reason. you can now rent out the pub from ted lasso through airbnb. can you stop start the conversation with how many for the pub for one night. lauren: i was asking gerri if she watches ted lasso. >> i did a little bit and it was very entertaining. lauren: $13 a night and town and anchor bar in richmond, l londo. one of the actors will serve you a pint and only three people can
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make a reservation and they can each bring four gu guests and al to promote the upcoming season, season three of the new show. stuart: $13 a night for everybody for one night? lauren: for the reservation at the bar. stuart: that's it. that's not much. lauren: do you remember cheers, the american show? stuart: that i remember. when i think of bar, i think of it. everybody knows your name is gerri willis. >> prices are coming down and home ownership remains out of reach for many americans and in fact affordability is worse today, get this, than it was during the peak of the 2008 housing bubble and according to the atlanta fed affordability
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monitor and they would have to spend nearly 43% of their income monthly to afford the median priced home. you're supposed to spend 30%, people. okay, so housing prices are coming down but they're coming down from all time highs and americans are still having to shell out for their american dream. mortgage rates as you know recently clocking in at 6.65% it. is according to fredty mac but the -- freddy mac and the fact of the matter is they're short of demand and not surprisingly home sales have fallen for 12 consecutive months according to nar. we spoke to one couple you've got to meet him here who has been in the market for over a year. now they've done everything right and i love these people. they've paid off their college debt. they are saving money out of each of their incomes and they're trying to build generational wealth. they've done everything right. they are still striking out. listen. jot numbers are just not working right now and i think what we're
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see asking that buyers are holding onto their homes and there's a little bit of supply and they want to let go. >> the impacts are dramatic and they're delaying a family and they want to buy a home first. stuart: thank you very much. i want to know about tipping at restaurants across the country. lauren: they're in san francisco. why would you pay extra for all the dirt and crime and the filthiness. stuart: they're all rich. lauren: while they're all rich and they're not tipping enough like 17% and all the way on the right and not much better in los angeles or seat and will people are just made.
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really, the best tippers were cleveland and average tip is 26.6% and denver, salt lake city, phoenix, richmond and chicago above 19%. stuart: a journalist went into a grocery store and didn't tip when it was prompted to fork over 10-30% and now he suggest the ftc investigate. what's that about? lauren: when you check out anywhere essentially you use -- you see the ipad and they turn it around, mr. varney and put your cards in and have the option to tip. at the grocery store, i don't want to tip 30%. stuart: i pads in the grocery store? with tips? lauren: yes. this journalist was so mad that a, that happened and b, the cashier looked at him dirty when he said no tip. he or she, that cashier was
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doing their job. lauren: it's traditional to tip at any place and compelled to tip and technology on ipad screen and asking you in front of people to help you. it's not customary and i did a whole podcast with the tipping expert and they said there's certain industries and there's not many, restaurants, hair salons where people make under minimum wage and your tip is expected to get them to and above minimum wage. if you're not in one of those business establishments, you should not be required to tip. it's nice if you do, if you get a good service but come on now. stuart: you tip in a restaurant or a bar or if you got really good service elsewhere. that's it. lauren: i agree. stuart: if i get asked for a tip at a grocery store, i leave. that's not right and that's just me. what we're doing now. lauren: ask gerri? stuart: nope, get a sense of the market. that's the dow 30 and even
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split. interesting there. half up and half down and dow is up a mere 35 points. got that. we've got another survey. here we go. 68% of adults plan or plan to have a side hustle for extra income and second job. which jobs get you the biggest paychecks? hint, it's not food delivery. that's next. ♪ ♪
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stuart: there's a new bill in congress and would make a four day workweek go to congress. that's a popular idea surely. >> it's a colorado democrat sponsoring this and i wouldn't get my hope up in the house and we'll see what happens there. you're right. there's growing momentum around the 4-day workweek and there's a recent study here in the united states and ireland and had about 27 completes complete it and
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9 -- companies complete it and 900 employees strang their workweek and kept the pay the same and overwhelmingly positives tiff nine out of ten companies say they're definitely or planning to continue with a shortened schedule so we wondered, is the appetite for four day workweek growing and hit the streets of manhattan looking for anybody that didn't like the idea. we couldn't find anyone that disliked it. stuart: why am i not surprised. >> if your company said, hey, we're going to experiment and move to four days instead of five, you'd say continue me in? >> yeah, for sure. >> if i got paid the same for working less. i'm all over that . who wouldn't be; right? >> like a four day week in the office would strike me as more productive than two days in the office and three days at home. >> i think people should have objectives once you meet your objectives just do it in two days instead of four. >> there are reservations for economists and restaurant chain operators and manufacturers as well and not all businesses can
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produce the same amount of work when slashing the workweek by 20%. watch this. hour for hour and frankly by efficiency. >> taking 20% action in just productivity and competitiveness and would either require double staffing is not practical and pragmatic and is it doable. stuart: i'm sure i'll see. i like forward to it as well. people are taking it on and you too. people taking on extra jobs to keep up with rising inflation and prices and side hustle joining me now. i want to get right to this. more of a side hustle and not so much the food delivery and number one, online tutor, online
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tutoring. >> there's limitless opportunities and side hustles, our website researched reviews and rates more than 450 ways you can make money with flexible part-time gigs so we do the olekowski ones, we do the new ones but, yeah, some of the new ones have much more promise with freelance website work and part-time medical work are expanding for side hustles. >> yes, it's going on for awhile and all the online platforms that promise that they'll help you market their services as independent contractor and going on for awhile and the big change particularly since the pandemic is that the big growth is in
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professional side hurricane-forces and will can make hundreds of an hour and if you have great experiences of consultants or just have deep experience in logistics or tech or any specific thing in law, sign on with one of the consulting platforms and really make, you set your own rates but you can make six figure income, no problem. stuart: sounds good to me. kathy christoph, thank you for joining us this morning. we have time constraints. catch charles payne today at 2:00 p.m. eastern right here on fox business. more varney after this. d confid. you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build
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stuart: do you know the answer to this? when did utah become a state? 1878, 1804, which was it? i'm going to say 1896. the answer is, yeah, baby, 1896. send in varney feedback. "coast to coast" starts right now. neil: here is the good news, the president has a plan to shore up medicare and maybe give it years more life.
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here is the bad

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