tv Varney Company FOX Business March 30, 2023 10:00am-11:00am EDT
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stuart: it is sharp until you pull back and see the ugly building on the left-hand side of the screen. this is a fine song, sunny new york, let's get on with it. it is 10:00 eastern. to the money please. thou is up 130, up 0. 42% or better on on the nasdaq up 110 points, and percentages, 0.93%, the rally continues. look at the yield on the 10 year treasury keeps on going up, 3. 57% and bitcoin still above 28,000 a coin, 28-5 to be precise. that's the markets on thursday morning, now this. every day there is another development in china's reach for power, they are hell-bent on replacing the united states as global leader and are making progress.
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brazil and china have a trade deal. they will use china's currency, ditching the us dollar. a week ago china agreed to by a loan from russia, china's currency not developed. china paid the debts of some third world countries ditching the american dominated imf and world bank, china brokers a peace deal between saudi arabia and iran, helps russia in ukraine keeping them going about hundred stitches taiwan at the urging of china, china threatens america because we are hosting taiwan's leader and a four star general time jack keane warns china will lead in nuclear weapons. the momentum of global leadership is with china. why? i make the case it wouldn't be like this if donald trump were still president. trump, like him or not was a
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strong leader, biden is not. biden reversed energy policy, border policy and showed weakness in foreign policy, he opened the door to china's power grab, second hour of varney just getting started. brian joins me for the entire hour, welcome back, good to see you. do you think we would be threatened on all fronts as we are if trump was still president? >> no because we weren't when he was president, say what you want about his manner but his policy, his stance, america first, taking care of our interests at home and abroad, it worked, this president likes to talk a game of bringing people together and having more policy experience but his track record suggests the opposite.
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stuart: when we were treated in afghanistan, that showed weakness. >> we talked about that. the only thing we didn't predict was how long the leg effects would be, we are still seeing them now months and months, years after that happened. stuart: a new fox poll shows 64% disapprove of biden's handling of the economy, 77% say the economy is fair condition. what do you make of biden's handling of the economy? >> the lack of hope people have. they look at their economic situation in the future, their kids future and say how is this going to get better? what is this president doing to make it better and the answer is he has no answer. everything he could have done to bring people together like keep the government out of your retirement portfolio, not going to do that, he could do something on domestic energy, every time he has a chance to bring people into the center and say i am a leader for
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everybody he says no, he vetoes. stuart: you're underestimating the impact of inflation at the grocery store. i can't help but see the price keep going up and i see the frustration and my fellow shoppers, they price it and i can't -- i'm not doing is that. >> it grinds you down, grinds people down, you look at those poll numbers and how long they have been for so long people are saying what can i do? i'm stuck with this guy for another year and 1/2 for punishment, bipartisan group of lawmakers just introduced a new bill that would scale back executive pay. who wants to limit executive pay, what is the limit they are going to put on it? >> strange bedfellows, elizabeth warren and catherine cortez mastoh, josh hawley and mike braun. different reasons.
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stuart: mike braun? >> they want to clawback bank executive compensation so pay and bonus going back 5 years if the bank needs federal rescue. where does the confiscated money go? gic insurance fund which has 20 -- stuart: it is just banks? right? not across the board, and all all executive pay? >> just banks. elizabeth warren will say fat cat ceos, profits are backlit hawley is saying you make bad management decisions so i don't want to be on the hook with the big banks or small banks to pay more in fees to make the fdic insurance fund whole, they have different reasons but the same goal but should silicon valley bank executives give out bonuses hours before the collapse of the bank. stuart: they are limiting executive pay for bankers, not the rest of us. >> sinema warren might think
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that's a good idea. stuart: senator warren would go after anybody. brian: they are opening the door for that. here's my question. when do we clawback the pay of the lawmakers who passed the spending bills that gave us the inflation that got us into this mess. elizabeth warren, i would like your paycheck clawback, spv as a result of policies you helped push. where is that? lauren: when trump clawed back or reduced the dodd-frank regulation -- brian: changing that conversation. i want to clawback pair, senators, congressmen, let's give it back, just talked about inflation. lauren: okay, pay up. brian: he is my nickel next. stuart: back to the markets, we have green on the screen, not as much as before, the dow is up 90 points.
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i want to look at tech, gary kaltbaum. the best quarter since 2020, the quarter ends tomorrow. will run up in big tech continue? >> i think so. it has complete outperformance, money has been flowing from so many areas of the market and every day i am finding something new and if the nasdaq nasdaq 100 semiconductor index and break above the recent highs of the last 8 to 10 weeks i think we could get a leg up but it has got to make that but so far so good and it is the place to be as of the second. stuart: what are you buying? >> i bought into broad-based technology market, have yet to do individual names because earnings are coming out in 3 weeks and earnings stink. i do not know which companies are going to blow up.
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on the other end, mike braun yesterday announces one dollar 90 one cents loss, 52% drop% drop in sales and spot those up. very tough market to try to gauge. i will wait for earnings to come out, the biggest earnings reports and best reaction. stuart: what is a broad-based tech investment, not individual companies but broad-based? >> the? nasdaq one hundred, the nasdaq, the smh, these are semiconductors. it takes away blowups and with so many earnings reports stinking up the joint i worry about what is next. i make it easier now and less stressed. stuart: three weeks until another of those days looking at 4:00 for earnings coming in and what the algorithms are telling you, 3 weeks away. is that it? >> that is the defining force
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behind great stocks over the long term so the earnings season is most important to me. i wake up early, go to sleep late. the most important thing is the reaction, the guidance of these companies and if you find the companies that can triple digit their earnings and sales every year for a few years those are your big winners going forward. stuart: i will join you, thanks a lot, see you again soon. what is moving this morning, charles schwab is moving down 4%. neil: morgan stanley has cut them for the first time in their 7 years covering them to equal weight, they take the price target from 99 to 68, that the big cut. this is what they say, clients are pulling cash out of the bank at twice the rate that they expected. to put a number on this, $20 billion a month is moving into money market funds. so they are moving it to safer
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investments. i'm concerned about this. stuart: we will look into that. madison square garden, a spinoff here. lauren: stock goes up 3%, they are step bringing out the live entertainment business and the other businesses like hospitality becomes your entertainment and trades on april 21st. stuart: walmart got an upgrade. stuart: they are up 1%. they will want 60, gain of $15 from here over the next two years, they expect traffic and margins to prevent for walmart to gain market share. stuart: if they get a mild recession people will go for the cheap stuff. is that right? brian: you were complaining about groceries, get cheap groceries. stuart: i'm going to move on. getting help from all sides. lauren: to start -- cut down the supply chain costs, what they are doing effectively. stuart: got it.
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listen to what janet yellen said when asked about irs agents who showed up on the door of matt taibbi. here's janet yellen. role it. >> during the few hours he's appearing before congress, irs agent leaves him a note, have you heard this? >> i've not. stuart: not aware? when does the political spin end? white house okay a massive oil and gas sale in the gulf of mexico, from climate activists who want to block them all. got the story. a train derailed earlier in minnesota prompting a town to evacuate. we speak to minnesota congressman on what residents need to know, that's next. ♪ ople like sam who make...? ...everyday products... ...designed smarter.
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stuart: democrats ramping up pressure on big oil and gas companies, targeting their profits. madison madison alworth has the story. which states are limiting the new rules? >> california actually had -- they have implemented these new rules, california can now penalize oil companies for making too much money. others signed legislation to implement the strongest state-level oversight and accountability measures in the country, opponents say this will do nothing to help california's energy issues. >> any policy that creates opportunity to penalty on a commodity or limit the commodity or tells in industry
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that creates that commodity you can only make so much or we will fine you or whatever this is is not going to help increase supply. if you have diminished supplies at the pump, at gas stations, that does not lower costs. >> reporter: in new york lawmakers are considering a bill for oil producers to charge oil producers $3 million each year as payment for their contribution to climate change, the money will go to infrastructure projects to protect the state from the effects of global warming. >> everybody knows the oil companies in particular made this mess. >> reporter: the climate change bill has not made it into the final budget. that' s due on april 1st. we have to wait and see but oil being hit from sea to shining sea.
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stuart: oil companies have given us one hundred years of efficiency in transportation and now they made a mess and they've got to clean it up. >> reporter: even biden said in his state of the union, ten more years we use oil, interesting to look at the people providing a utility and -- stuart: the same old same old, they hate oil, they hate trump et cetera. let's move on. a republican from minnesota joins me now. we want to get our natural resources, our natural resources, oil, gas, rare earth, biden won't s. is that an accurate statement of where we are? >> absolutely accurate and he declared war on american energy on day one and that is why it is important, walking to the house floor, hr one lowers american energy costs, the biden policies have been devastating to the american
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families, paying more for gasoline, groceries, not only is he declaring war on oil and gas and traditional fuels but critical minerals in the united states. the band mining in northern minnesota, the biggest copper nickel find in the world, 95% -- stuart: we are now dangerously dependent on china. how do we stop that? what do you do to reverse that? >> almost 60% of our dependency is on the communist country of china. we have the ability and are blessed with these natural resources in our country and this administration refuses to allow americans to my knees minerals to help with the strategic national security, we are ready, able and willing, we do it better, safer, cleaner than anybody else in the world, we have to have the political will, the biden administration puts politics over the production of energy. blue one i should point this out.
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the administration did hold a massive, announce it is going to -- massive oil and gas lease in the gulf of mexico mandated by last year's climate bill, activists don't like it, they want to block all fossil fuel leasing but they are doing this so we haven't completely stopped fossil fuel production. >> i tell you what, let's be very clear. president biden was forced to put this sale on. the republicans in the house and senate forced him to follow the law. he has been devastating to those traditional fuels and our energy independence across this nation. he stopped oil drilling in alaska, north dakota, doesn't want us to mine in arizona, south dakota, minnesota, pennsylvania, wyoming. he has been devastating to energy independence, his administration is not allowing us to produce this and us to hold the destiny of this country in the palm of our
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hands, we have a natural resources. stuart: as i'm sure you are -- a train derailed in western minnesota this morning, several tankers caught fire forcing evacuations in the area. what more can you tell us about this derailment in your state? >> we have in southwest minnesota, i want to thank the first responders who were called to the scene as at this moment the information we have is there is no injuries and fires are under control and my friend and colleague has staff on the ground working with state officials to make sure this incident gets under control. stuart: got it. thank you very much. minnesota, thank you, appreciate it. the house will vote on the republicans energy package this week. ashley will join us for this. has this bill -- this is the republicans, are there any democrats who support it?
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>> surprisingly yes, democrat congressman vincent gonzalez of texas says he will support the house gop left energy package. on dollars says republican plan in his mind is far from perfect but does represent a step forward in improving federal environmental review and permitting processes. the legislation includes provisions that would boost production and sales of oil and gas and also speed up the us approval process for permits for energy and infrastructure project. sounds good. democrats calling the bill the, quote, polluters over people act and claim it to giveaway to big oil, senate majority leader chuck schumer says the energy package is, quote, dead on arrival. stuart: thanks. just a few minutes, i almost lost my temper about folks who hate oil et cetera. >> you through your pen at me. i'm with you on this. don't have to throw europe
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enemy. stuart: i've been hearing this since the santa barbara oil sullivan 1969. that's what it goes back to, oil spill on the beaches of santa barbara and the left went apoplectic, they hated oil ever since and they hated now. brian: it is cheap, abundant fuel that facilitates prosperity, not just for the rich but for everybody. stuart: exactly right. >> you got one democrat -- >> anti-inflationary too. stuart: and he's from texas. >> chuck schumer says dead on arrival, the man of the working class, the matter the people who wants prosperity from middle out, bottom up or whatever it is, for the tesla drivers, the green energy folks. stuart: got me laughing now. >> don't want you throwing your pen at me anymore. stuart: the world health organization now says healthy kids and teens don't need to get covid shots. that is a reversal.
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stuart: we are just holding on to a small rally, dow's upper hundred but the nasdaq doing okay, gain of 0.49% was lauren's with the movers. i like a look at intel moving up. lauren: 7. 6% yesterday, it is up another 2.8%. stuart: i missed it. stuart: they had a data center/aie event yesterday. apparently it was really good. raymond james says it is firmly on track to deliver new chips that had been delayed, they are fast, they are great, they love them and back in the graham. stuart: that is intel. calls. what if you got? lauren: a relatively new ceo brought $2 million of stock overnight, the average price he paid 21 and change. we when you are in and got a profit too. block. what have we got on them?
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lauren: they provided information to questions about who their users are, are they fake users, member hindenburg research allegation up 75% of their accounts could be fake d, therefore essentially saying block is a fraudulent company, now they are answering that and stock goes up. stuart: then we have this. more than a thousand migrants crossed the border into el paso, texas on wednesday night. alexis mcadams is at the border, how did officials deal with the latest surge? >> they are used to this because two weeks ago a mass of migrants tried to charge this area and go across the border into el paso, texas, that's what happened yesterday but they didn't turn themselves into authorities but this after another rumor telling migrants if you show up to this border site you will get right into the united states, that wasn't the case. take a look on your screen,
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this is the latest video from yesterday, you see large crowds of people crossing illegally into el paso, texas in the past 24 hours, 1000 migrants entered that already slammed sector, sources tell fox news many of those migrants took a freight train, then entered into el paso on foot. border patrol chief of the el paso sector tweeting 1000 migrants from venezuela surrendered to agents after making illegal entry into the us. another warning border patrol will expel migrants under title 42 placing migrants under title 8 removal haven't changed. >> operating under title 42 authority. those migrants that are not amenable to title 42 won't be processed accordingly and those with no legal basis to remain in the united states will be placed into removal proceedings.
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>> reporter: this is that video we were talking about. 1000 migrants in that same area rushed the bridge near el paso trying to get into the us but they were stopped by us and mexican authorities. back out here live another look at another incident in the same sector near el paso, that crossing cited steps from this massive fire at a migrant detention facility, you see the flame spreading, nobody help these migrants get out, 39 of them died there on monday and we are told a lot of people who were injured as well, dozens were allowed to get medical treatment so these other migrants from venezuela heard that and thought this is my chance to go. stuart: thanks very much. nobody would know what is going on. texas senator ted cruz going after alejandra mayorkas. watch this one. role it.
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>> what is maddening is mayorkas may be the worst witness i have ever seen. he will not answer a single question, doesn't matter what you ask him, you can ask him what day it is, what time of day it is and he will say senator, we want to protect america and he reads is talking points. he -- i've never seen a witness, this was true in all of my questions, 10 minute round, wouldn't answer a single question i asked the whole time. it shows a contempt not just for congress but for the american people. stuart: let's bring in former secretary chad wolf. nothing ever changes, nothing happens. if you impeach mayorkas nothing will change because basically this is biden's border policy. what say you? >> without a doubt this is the biden administration's policy, mayorkas is fulfilling those orders but the buck stops with him, he's the secretary so a
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lot of these decisions he has to implement, how you blend it is important, the ability not to answer questions to senator cruz or the members of the committee, i watched some of that hearing, it's quite startling. is not being honest with the american people, not numbers of congress and that's where the frustration comes from, you can have policy differences, defend your policy offenses in the actions you are taking and answer the question. when you don't do that, that's where the frustration comes from. stuart: what happens when title 42 is lifted? stuart: great question. i was going to bring that up. may 11th is when title 42 goes away or sunsets. they are removing, the administration is removing 40 to 50,000 individuals a month under title 42. once that goes away they will be putting title viii proceedings and almost everyone in title 800 this administration is released into the country. as bad as the crisis is we will see another surge once title 42 goes away because the cartels
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are going to know this and they will recruit more individuals to come across the board because they get released into the country which is what they want at the end of the day so they will advertise that and recruit from it and we will see another surge to the border. lee one nothing changes, nothing changes, open border and that is the way it is. sorry to so short, this is a big subject, thank you as always for being with us today. prosecutors in mexico investigating the fire at the migrant facility, 39 killed. who are they looking to charge? do we know? ashley: yes. the surveillance video shows the migrants trapped in locked cells as a fire erupted monday night while 2 guards made no attempt to release the detained men. mexican prosecutors investigating the deaths as homicides, many migrants died from suffocation. authorities have identified 8 suspects now including two federal agents, a state
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migration agent and 5 staff members of a private security company. prosecutors have requested an arrest warrant for migrant identified as the person who set the fire. the migrants were headed into the us and were upset that they were going to be deported. stuart: thank you. when airline being forced to cut flights because of a staffing shortage at the fda. they are telling you, don't tell me the name of the airline but you can read on your screen. we will tell you the story after this. you know my next guest as two time world series champ who has done little acting. role tape. >> that is keith fernandez. should we say something to him? >> he loves hands in the locker room. >> he can say hello to me. i wouldn't mind. he is keith fernandez. jerry seinfeld.
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stuart: keith fernandez, okay. baseball is back today, opening day. we are talking with mlb's new rules, keith hernandez will join us next. ♪ and i remember kind of thinking like, "oh my gosh, i think we could be sisters." because i think we looked... yes. right. yeah. and i don't think at that time- i think you're the one to tell me that we had the same birthday. yes. it's really unbelievable when you think about it, because it's been, like, really over 20 years that you were my mother and father's banker, you became my banker and now fran is in her third year of college
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stuart: let's name it officially, jetblue will cut flights into new york starting this summer, the ceo says there's a shortage of air traffic controllers, 54% of what they need. the faa says they are working on staffing and looking at ways to ease air-conditioned. may be they will fill fewer flights. today's major league baseball's
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opening day, 15 games and 15 stadiums. fox weather's nick coats are his out time -- outside the stadium. >> it looks beautiful, sunny, not a cloud in the sky. the problem is it is a touched shelley. we had an arctic front coming through the northeast last night and that put a chill in the areas temperatures on the field just about freezing, 33, thirty four. by 1:05 which is when first pitch is slated as the yankees are going to take on the giant opening day, should be 46 °. anybody coming out of the bronx to watch the yankees play their first game of the 2023 season needs to layer up. we've seen it all on opening day in the bronx. in 2017 it was 74 °.
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in 1982, 10 inches of snow got dumped across the city by a blizzard. it is a mixed bag, you never know what to expect, this year although it is a little chilly but it is not bad but the players behind me just started taking batting practice. we are hearing the crack of the bat for the first time this season, the yankees last year made a deep playoff run, they went to the american league championship series where the astros got the best of them. hopefully this year i can make it through and get into the world series. then it all starts today. stuart: yes it does. thank you very much. he's at yankee stadium which i want to bring a guy from the mets. this guy watches this program, one of the reasons we keep him here, keith hernandez is with us this morning. i want to talk about these new rules that are supposed to
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speed the game up. larger bases, hitch clock that says pictures will have 16 seconds to throw pitch with the bases empty, 20 seconds with a runner on base and something called the shift, new rules there, position players pitching, is this going to speed the game up or what? >> i think it has, been training, using these systems for the past 3 or 4 years in the minor leagues and it is taken 35 minutes off of the games. all professional scouts are happy about that. stuart: kind of the roux - the new rule of the clock. the clock has a big role in baseball nowadays. >> yes. they are trying to speed it up. spring-training, the games averaged around 2 hours and 35
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minutes which back when i played in the 70s and 80s, the norm for us but today's game is a lot more walks, a lot more strikeouts, folks have more time and they are trying to get the pictures to pitch but the hitter has to get in the box, when they hit, eyes on the picture, on both hands on the back ready to hit before 8 seconds remaining. if not you call a strike so trying to speed it up, didn't have a game over 2 hours and 38 minutes. stuart: that is interesting. that's more my time frame. the mets are doing well this year but i'm sure you will agree. stuart: our owner steve cohen spent a lot of money on very lander and siano war winner, future hall of famer, he will pitch game 3 for the mets.
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this is a team like last year, pretty much the same group as far as every day players, they are back and they bolstered the bullpen, they lost diaz, the great closer for the season in the w ds but it is a tough division, the phillies are very good team defending national league champ, the braves are the braves and the mets are the mets. is going to be very exciting division race. stuart: you are a good man and is great to have you on the show and i hope you can come back real soon. keith hernandez. >>, phone call away. stuart: you might get what you want, see you later. brian is a big baseball fan. can i interject something? you've got a billionaire who now owns the mets, seems like baseball is getting like soccer, you've got to have a couple billion dollars from the
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owner to purchase a good team. >> they pay these guys a lot and the mets loaded up on hall of fame, i watch a lot of spring-training with my son this year, 11 time with you - you didn't know that -- stuart: know. >> this was like, i know -- stuart: he watches the show. brian: speeding up the games really matters, that was a huge difference in spring-training. we should have done this. stuart: you've got your own show. i've got a serious story, the president of temple university has resigned facing criticism for his handling of violent crimes on campus. he was waffling on about capitalism while the students were getting clobbered. jeff flock has the story coming up. two veteran prosecutors in california quit the alameda county district attorney's office blaming the radical policies of soros backed da pamela price, we will speak to
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a mom whose son was gunned down in the same county, we will be. ♪ the new chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours.
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stuart: a reporter for pbs was attacked on a subway earlier this week. this is another story about violence on the subway. what happened? ashley: horrible. jame ferguson, reported from some of the world's hotspots in the least most recently ukraine said she was riding the number 4 express train at grand central during rush hour when a man something walked up and punched her hard on the side of her face, it left her stunned with her year ringing and face on fire. a good samaritan took her off the train it helped her to a police station at grand central. subway crime is reportedly down from last year but there have been some high profile incidents.
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adam klotz was brutally attacked on the subway by a group of teens that he tried to stop from harassing an elderly passenger, just awful. stuart: that is new york city, thank you. now this. the president of temple university has resigned after he faced criticism over his handling of violent crimes on campus. jeff flock in philadelphia where temple is. this guy was awoke guy, wasn't he? jeff: most university campuses you might describe in that fashion. this was in philadelphia. i'm standing on the spot not far from where a campus police officer for the first time in temple history was gunned down. as you report, that in large measure led to his resignation. the first african-american president of temple university, just overtaken by crime. this is an urban campus and
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crime in philly is bad so it has been on the campus. as to the campus police officer that was shot, his name is christopher fitzgerald, father of four, trying to do something to stop the home invasions and carjackings taking place on the campus where i stand. he was in uniform and at his funeral the details of how he was shot came out, 3 suspect he was trying to stop, one assailant pulled out a gun and shot him on the street corner, surveillance video indicating the person walked over to him lying on the street and shot him three more times to kill him. crime is bad in philadelphia. last year it was bad, this your worse. auto theft up 78%, retail theft up 45%, theft of a person of 20 plus% and goes on, we talked to the former nypd lieutenant commander at john jay university.
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he says the impact not just the human tragedy but the impact on the university has been very serious. stuart: okay. thanks very much indeed. change the subject here. related subject. two veteran prosecutors in california quit the albina county district attorney's office blaming the radical policies of soros backed da pamela price. brenda grisham is with us whose son was shot and killed in alameda county in 2010. thanks for being on the show. it seems to me pamela price ease her job as getting criminals off the hook. what say you? >> i say that is her platform right now. we just have to figure something out, to put the rights of the victims in the forefront. stuart: is the beginning of a
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move against this kind of radical da? in the next election do you think you will get another radical or will you change course in alameda county? >> i hope we change course because what is going on right now is not ethical. stuart: true. the person or persons who shot your son, were they ever caught and prosecuted? >> no. stuart: is it an ongoing case? is anyone looking into it? >> it is a cold case. that is why i am fighting as hard as i do so other as i do so whether parents aren't in the same position i am. the new parents don't understand how to navigate the system so you have to help them navigate through our advocacy work. stuart: good for you. thank you for being with us, sorry it is so short but appreciate you being here. more varney after this. - what?
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century lithium is advancing their clayton valley project towards production, with the goal of becoming a domestic lithium producer for the growing electric vehicle market. nevada's lithium is the key to america's green future. century lithium >> for democrats, this is a mell of a hess. 81% of them say joe biden's doing a great job. how can very but of them, only 52 percent, even want him to run again? this is pretty remarkable. >> earnings speak, and i do not know which panes are going to blow up. -- companies are going to to blow up. i'm going to wait for earnings to come out. >> the tech sector to, ironically, has been the best sector so far the year
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