tv Varney Company FOX Business July 25, 2023 11:00am-12:00pm EDT
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picking the winnings and losers. >> microsoft has to be one of the best position companies today and microsoft integrated ai into bing. if we can get bing to give us more streamlined answers, i think you'll find that google has a lot to lose. >> we had a recession in the first half of 2022. i think people have somehow forgotten. bidenomics is basically a big top down government spending $5-$6 trillion spending to his cronies. i hate to say it, but i think bidenomics has absolutely failed. >> last week was a tipping point with the i, rrs -- irs whistle blowers and looking at public life in politics and clearly use that had time to enrich himself and his family. ♪
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stuart: it's tuesday, all day, july 25th and the market show as little bit of green. not as much as we had. dow is up 11 and nasdaq up 50 and s&p up 5. very cautious goings so far on the day. big tech and most of them up, meta, microsoft, apple up, amazon, alphabet down fractionally and yield on 10-year treasury getting close to 4%, 390 to be precise. that's the markets on a tuesday morning and now this. i thought it was a joke. saudi arabia offering $1 billion for a soccer star but as the president would say, no joke. it's real. the player is mbapp and he recollects the transfer fee is $332 million and the salary reported $770 million. we don't know how many years
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this goes for but $770 million! a billion dollar deal that blows the lid off pricing of world soccer. same with golf. the saudis paid hundreds of millions to entice some of the world's top players into their own liv golf league. that blew the lid off the pricing of world golf. the saudis moving into horse racing and taking 20 million. the saudi grand prix is a fixture on the international racing circuit. they now host world snooker ranking events and money talks. back a couple of years and newly elected president biden called mohammad bin solomin a praia and suspected in the murder of a washington post columnist and nbs didn't like that one bit. biden came begging for help when gas prices rose, he was turned
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down. back today one of biden presidency ending american energy independence and pushing more money into the saudi treasury and that's what happened and the saudis make ago splash with the trillions. moral of the story is don't make lofty moral judgments on foreign leaders if you haven't figured out how to respond and saudis buying up world sports and with the money joe biden helped them make. third hour of varney starts now. stuart: jimmy failla joins us. you're wondering what snooker is. lauren: i saw from the videos, never heard of it. did it play here in the u.s.? >> yeah, it's around. you know, stuart: it's a british thing. stuart: let's move on.
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jimmy failla. >> great to see you. stuart: thank you very much. what do you think of the saudis buying up world sports? >> i have two takes and i'm fascinated you booked me because i get paid in beer. i get paid in heinekens on thursday and if the hit goes well, i get an extra six pack. i know sports well and bring up beer. one, it's great for the leagues in terms of engagement because the big stars draw a lot of eyeballs, but the fans are excited till they see the prices of concession stand. have you been to yankee stadium? i'm paying interest on a hot pretzel i bought in a 2009 world series. i didn't try the steak sandwich because i couldn't get a cosigner. the concessions are out of control because it's wealth redistribution on the part of american money to the saudis. what we did to our energy sector is what empowered them. on some small scale, putin can only finance what he's doing in
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ukraine because we're not the energy super power we used to be and that dereliction of duty that puts them in this position. it's frustrating to watch and also predictable because the sports league dos a lot of moralizing, but that moralizing is there to take your eye off the ball when the big check cops rolling in from the saudis or china.s to do something. they play ball. stuart: you know who mbappes. >> i know but don't hang out with him. i think the good signing. lauren: he's 24. >> i think the contract is 12 years. if i'm wrong, i'm not a recorder. even so what's the annual on that. that's outrageous. stuart: 770 million divided by 12. whatever ha thanksgiving is. it's outrage -- whatever that is, it's outrageous. nbc from biden and his age. democratic party needs to be responsive to what people are saying about biden and their
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concerns they have with his age. the number of text messages they got after the president fell, i mean my phone was blowing up. people are like, oh, this is so bad. nbc -- n nbc piling onto biden's age! >> oh, yeah, we're in a window and we've all been to a wedding where we're in the church going, really? these two are getting married? there's a brief sneak now or forever hold your peace moment and no one does because you want to be polite. when it comes to incumbents, you let them walk back down the aisle and if there's a window to get them off the ticket, you're exploring that right now. one of to the reasons is if you look at numbers incumbent presidents have spent on reelection campaigns in the second quarter. biden is about $10 million below tram and obama. that matters why? they were popular within their own party. biden is historically unpopular and still not out there fighting the ground war and spending
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campaign cash. i think this is the window if he's off the ticket, they realize that has to happen now. the dnc uses media well and probably another trial balloon. the axios piece of him yelling at staffers. if there's smoke, elizabeth warren trying to send a message. stuart: i don't think biden will be the democrats and democrats don't think it'll happen. >> no, there's a host on fox that owes me $500 if it doesn't happen. lauren: who? >> i'm not going to mention his name on hair but rhymes with sean hannity. we bet on the show and hard to get an incumbent off the ticket. i never believed they were going to go through with this. i thought he announced a reelection bid because he was trying to buy himself, shorten the distance of time as a lame duck president? does that make sense? he can wield a little more leverage. i can declare and someone else will take over. he doesn't wield the same type
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of leverage and power but i predict he's going down. stuart: you're an original thinker and we agree. >> mediocre minds. stuart: jimmy failla, thank you, sir. back to the markets. we're serious about money on this program. the dow is up 3, nasdaq up 59, s&p up 6. some green but not much. lou with us this morning. what's with the x from musk? what do you make of that? synergy home this is a smart strategic move. >> threads was all the rage when meta was launching the new social media platform and number of us users engaging is down 50n two weeks and number of time is down 60% and remember, we talked about it is because text-based
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social media platforms are dead and past their peak. here is elon musk holding ton to $40 billion+ text media platform and has to pivot to save that investment stuart: what does x do. it's not the bluebird. what's with the x? what does it do? >> whatever this crazy rich genius decides he want it is to co. allow him to expand and getting into banking and financial services and companies like apple get into with goldman sax and commerce and try to d goldman sachs and commerce and a platform for buying and social media like instagram and other apps get into and be whatever he needs to preserve the value of the investment, and i would tell you this could not have been done if it was still a public company and shareholders would not allow or the board ore directors. kudos to him for making the changes to make possibly x more relevant and survive and not become relegated like yahoo finance. stuart: if it was still a stock
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that we could buy into, would you buy into it? >> i mean, i would be interested with all the changes he's making and would be based upon valuation. i would assume that if he made all the changes, this stock was publicly traded and beat up, battered and bloodied and there would be a bargain buy on our hands and unfortunately we don't have that right now. stuart: that's true. lou, thanks for being with us. big day today, microsoft, alphabet this afternoon. we'll be watching. lou, thanks very much indeed. lauren's back with the movers. start with rtx. that was raytheon. lauren: correct. pratt and whitney jet engines and hundreds of new engines on air bus jets recalled back, recalled. called back or recalled. they said some of the metal used to make in the parts required planes be grounded and ceo said the cost is unknown, but it's going to be expensive. down already 14%. rtx is number one decliner on s&p 500. stuart: that's a big problem.
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kimberly clark, huggies, kleenex. amongst other things. lauren: raise annual sales in profit estimates and labor cost for them in certain areas surging due to cost of living adjustments and tight market and stock down 2 at any time 7%. d2.7%. stuart: xerox and they're up today. lauren: companies buy office supplies and people buy office supplies when working from home. their supply chain disruptions have faded, dare i say back to normal? not for workers going into the office but for their business and the supply chain stocks up 8.1%. stuart: got t thanks, lauren. now this. summer of labor discontent continues. fedex pilots, their union rejected a tentative labor agreement. that could mean another strike on the horizon. we're on it. one of the hosts of the view blows up over florida's new slavery curriculum. roll tape. >> i've been spitting mad about the cultural wars ron desantis
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has been creating. how dare you, shame on you people in florida. stuart: so heated they had to cut her microphone to censor her profanity. we'll show you the full clip. hunter biden's former friend and business parter testifies on capitol hill next week and devin archer putting claims that hunter put then vice president joe biden on speakerphone with his business dealings. we have the report from the white house action next. ♪ explorers looked quite a while for it, it took 200 years to find the gold. rookies. i can find gold online in seconds. and, gold has been a safe haven in times of turmoil! and gold has even kept its value through inflation!
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stuart: hunter biden's former friend and business associate devin archer will be interviewed by the house oversight committee next monday. jackie is at the white house hawaii are we expecting to here? reporter: there's a lot there, stuart. we'll see what we hear, but the president has man tianaed all along that he's never -- man maintained all along he's never spoken with his son about business dealing ands the white house had a subtle messaging shift. in june, the spokesman for the white house council's office said the president has never been in business with his son. when i asked him why the language changed away from never spoken with to never in business with, he pointed me to a question and answer from the briefing room that day where karine jean pierre saying it was true it never changed and now it's that . >> the anxious remains the same, the president was never in
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business with his son. i just don't have anything else to add. reporter: never in business with his son. the subtle messaging shift is getting all the more attention because hunter biden's former business associate devin archer has agreed to a closed door deposition before house republicans who are seeking clarity on president biden's potential involvement in all of this. devin archer was previously convicted of securities fraud and he was sentenced to prison time in a separate business venture in which hunter biden was never charged. >> look, devin archer is hunter biden's bff and knows where all the bodies are buried and i believe his testimony will be excelling enough to sew -- compelling enough to show that joe biden was in the room during much of the discussions and deals. reporter: house republicans on the oversight committee think they know what devin archer is likely to say and pointing tafanely what they see as -- pointing to what they see asest on the laptop. >> joe bidden was in fact in direct communication with some
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of the business associates you could call them. i call them foreign nationals sending money through shell companies to the biden family. at any rate, joe biden was a lot more involved in hunter's shady business schemes than he has ever admitted. reporter: so we should point out that all though karine jean-pierre and we've never heard that from the president and he's maintained he's never spoken to his son about overseas business dealings, and the white house broadly ridiculed this probe. stuart. stuart: jackie, thank you indeed. speaker mccarthy is using the word impeachment in connection with the investigations of hunter biden and the president. do we want an impeachment process now? >> that's a good question. i think a lot of people remember
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the circus of the trump impeachment proceedings and the distraction from the priorities of the american people. the left is now picking up on those talking points. however, if not for the republican majority and speaker mckansas city chiefs r think touched on this -- mccarthy touched on this last night. we wouldn't hear about any of this and the biden's play by a different set of rules and clearly as the evidence and whistle blowers are pointing out and without any fear of being caught. and what position has that put the bidens in and he's compromised as a result of that coming out and speaker might be start to rise that -- starting to rise to the level of the impeachment proceeding. but it's a little ways off. stuart: for years biden has not talked to his son about business. now the irs whistle blowers revealed he had conversations with his son. he did indeed. has the president been caught in a lie? >> absolutely. that as you noted here, that very small change in wording is
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a gigantic admission with the president saying over and over i have never spoken to my son about his business dealings to now saying i've never been in business with my son. there's a whole lot of room in there for interpretation and you're seeing the whistle blower, text messages and this laptop we were supposed to believe was fake is proving there's multiple time when is joe biden has not only been in the same room as hunter biden when conducting foreign business dealings but on the phone, on speakerphone as more people are talking about. the american people deserve to know about that and what position the president is in when he's going and talking with our adversaries and being our diplomat on the world stage. is he not able to fully defend america and work for america because east in a compromised position of his son using his name stuart: talking about the view. cohost anna navarro blew up over governor desantis' slavery curriculum in florida. >> i live in florida, i have
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been spitting mad about the culture wars that ran desantis has been keying and when he says he has nothing to do with it -- he has created the environment that has led to this. how dare you, shame on you people in florida. stuart: okay. did desantis create the culture wars in florida? >> certainly not, and i think the view can be credited for creating the division, that's what they thrive on is having division in this country and they cherry pick these situations to call out and create and sow this division. you had dr. allen, i believe, was on fox last night who was part of this task force that oversaw these curriculum changes. he's a black man. his great grandfather was a slave. and he said in no way shape or form does this curriculum put on any level some sort of saying that slavery is in some ways something we should accept. he said this is talking about slaves persevering despite their oppression. and don't silence the history of
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my great grandfather. the view would refuse to ever play his voice telling of what the left and even vice president kamala harris is up to. stuart: before we close and myself and several of the people who appear on this program have said, they don't expect and i don't expect biden to be the candidate for the democrats in the next election next year. i don't think he'll be the candidate. what say you? >> the polls say they're not very excited about him. that's concerning. stuart: will the democrats move to get him out? >> they won't move but if there's any opening for showing that the president is truly not fit to run again, they are -- they have many avenues at their disposal to exploit that opening. stuart: i think so. cassie, thank you for being with us. in new york no less. >> yes. stuart: good stuff. it is now late july, almost back to school time. that means parents are going to have to shell out for school supplies. do we have any idea how much parents are going to spend this time around? >> k-12 the average is $489.
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stuart: per child? lauren: uh-huh? stuart: $489 per child? good lord. lauren: that's the average spending, i'd put it that way. the saving angle might be the bigger story because that's a number that parents are looking to save half of that amount. here's how. buy supplies early. look for deals. you make dinner at night, make that the leftover lunch for the kids the next day. secondhand or used school supplies like could you use last year's backpack? i don't know. stuart: could be a meltdown on that one. lauren: i'd be careful with that one. don't buy some of the stuff on the teacher's list. stuart: yes, yes. lauren: you don't need that many things of blue. stuart: as americans, you don't need to consume it all. you don't need it. lauren: that's impossible. stuart: can't do that in this country. i learned my lesson. i think we're done. thank you indeed, lauren. we talk frequent on this program about how tip asking getting out of control -- tipping is getting out of control. we found one group who responds
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to the out of control tipping by not tipping at all. who are these people? we'll tell you in a moment. take a look at microsoft. they report after the bell today. investigators want to see what they're -- investors want to see how they're doing with ai and how it's making them money. something new on the program, we'll speak to animal list that covers -- an analyst covering microsoft and has an interesting target price. we'll be back. ♪
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stuart: this is coming to us, the 18-year-old son of lebron james, bronie, suffered cardiac arrest yesterday at university of california and rushed to the hospital and said to be in stable condition. he's no longer in the icu. back to the markets. we still have some green certainly -- the dow industrials. s&p and nasdaq. not much but a little. lauren has the movers. what's with packaging corporation of america. lauren: it's the biggest gainer on s&p 500 and make container
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products and stronger earnings due to lower omitterring costs and lower -- operating costs and shipping costs. that's due to deflation. alaska airlines is below especially maths and early sign of cooling ticket prices. that's good news if you're flying somewhere but not for the airline. stock's down 12%. we saw with june cpi that air fare is down three months in a row. expensive air fare slowly coming down. stuart: what's the irobot? lauren: the vacuum cleaner and amazon is trying to buy it and lowered deal price by 15% or $10 a share. irobot shares down 12% on that news. stuart: got it, thanks, lauren. turning to microsoft, please. reporting after the bell this afternoon. alex zukin with wolf research is here. alex is animal list. we don't often --
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>> they guided to it as a core metric. we're going to be watching that metric and they released really interesting pricing last week that, you know, really was well ahead of what everybody was thinking they could do from a pricing perspective that could make them the fastest growing software, large company out there, full stop, over the course of the next few years. stuart: some of these -- the pricing policy and the ai, that will show up in today's report. the report looks back ward, but it will include progress from ai, i take it?
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>> it will. particularly what they're making from openai, which is everybody's favorite chat bot these days. microsoft was fortuitous in its timing and partnerships they announced and now they're making money off of it, and i think they're leveraging that brand to go to large inter-surprise customers showing them the power of what they can do tailoring their data to the models and showing up in results. stuart: what's your target price for microsoft? >> we raised our target price. we put it to about over $400, about 20% or so upside and went from numbers below consensus to above consensus and we're really bullish and think this is just the beginning. this report is going to start really a pathway and trajectory and a momentum that's going to get unlocked for this stock to accelerate its growth profile over the next few years by a pretty meaningful amount, they don't think is well appreciated still and yet by the sell or buy
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set. stuart: microsoft incorporates ai in its bing search, i believe. i'm told that's the way it is. does that pose a huge threat to google search? >> yeah, that's a really interesting wedge they have. they have a couple of wedges across their product helps coders spell check their code for lack of a better term is a opportunity to sell ai and cloud. bing to your point as a search engine, as an ai engine increasingly within their product portfolio is another opportunity to introduce a fairly newer cohort of users and customers to how they view search on the web evolving to a more ai generated and a icon instructed product and that's a -- a ashley: constructed product -- ai constructed product and there's a opportunity for them to take share from google.
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i don't think it's something that's going to meaningfully change the shared dynamics and search, but it's google's game to lose and microsoft's game to win at this point. stuart: you're making me feel pretty good i've got to say, alex, i have to tell everybody what i'm invested in and i've been invested in microsoft for many, many years. you're making me feel real good, alex. you can come back any time you like. >> much appreciated, thank you, stuart. stuart: they've launched a new tool but what's the ai tool? lauren: this ai tool re-designs your living room. it's called decorfi and you up load a picture of your living room and choose the style you like, traditional, glam, modern, and artificial intelligence re-designs the room, furniture, decor, whole thing and links
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items for everything they use and then you can go buy them on way fair. it's just -- wayfare and they expand to other rooms and there's a picture i like and search for the product and it's not easy. stuart: that's really fascinating. i'm doing the same thing with a garden. having ai map out which plants go where, aspect of the sun, shade, trees, bushes, flowers, whatever. lauren: there's ai for that? stuart: feed into ai chat bot and get the design. lauren: have you gotten your design yet? stuart: no. lauren: why not? stuart: i haven't put the information in yet. i have to find something that does it for me and that's how it works. listen to this, a woman refuses to get out of a tree so seattle cannot chop it down to build affordable housing. roll it. >> hi, how are you? >> good, how are you? >> i'm good. thank you for being up there. >> oh, it's an honor. stuart: our west coast guy jason
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beer in bars and restaurants. jeff flock, well, he's right at a beer distributer in philadelphia, and you're going to tell me how much have bud light sales fallen at that distributer. >> you know what's funny, stuart, we were here earlier when this first started and not so bad at that point but the man told me he's starting to see some, you know, some erosion in sales because it's been very different in different parts of the country like in the inner city, maybe not so much in some places but other places a lot. take a look at these numbers. the carolinas for example, north and south carolina as a combined market. almost seven points of share lost and 30% of sales lost in those states and in california, less than a point of shares lost and not much of an impact on the boycott -- from the boycott there as well and true in other markets as well. take a look at new jersey, new york, down 5 points in share, texas down about half of that and then the pacific northwest not as much at all.
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this is all on premise sale and that's been hit harder and they call it on premise. what they mean is bars and restaurants. if you drink butt light and switch to -- bud light and switch to guinness, maybe. bud light and bud light down 34% on premise. it was pretty much similar at the package stores like i'm at right now. k spa for bud light down 18% in the last week. yingling is up, miller lite's up and moten dell low is the number one at texas, mexico border and beer coming over the border that's winning. stuart: jeff, hold on. i can't see switching from bud
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light to guinness. there's a fundamental difference between light beer and stout. huge difference. reporter: i knew you were going to say that . you know, stuart, you're the kind of guy that does not often drink beer but when you do, you may drink a guinness. stuart: just for a touch of the old country. jeff, thank you very much indeed. that's extraordinary story of bud light's demise. jeff, thank you. a study shows -- i like this one, gen z people are the worst tippers. okay, you've got the story. tell me more. lauren: sometimes they don't tip at all. just 35% of those under the age of 26 say they always tip a server at traditional sit down restaurant where you and i would tip 25%. stuart: only 35%? lauren: 35% always tip and 65% never or just sometimes tip. boomers, 83% of them always tip. bottom line is tipping is changing because it's constant, it's for everything and it's in
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your face literally with the computer screen, touch screen they turn around. stuart: it might be because gen z februaries, young folks, don't have the money. lauren: they don't have the money and hit by inflation. stuart: okay, i can see that. thank you, lauren. we better check those markets, please. the dow is creeping up a little bit. the dow is now up 74 and look at nasdaq, all of a sudden it's up 100 points. i'm not sure anything specific happened. we're all working up and working towards microsoft and alphabet reporting late this afternoon. maybe that's helping the nasdaq. show me biogen, please. where are we? we've got biogen down 3%. they're cut ago thousand jobs, 11% of work force and they'll focus more resources on the rollout of the new alzheimer drug. the stock though is down 3%. fixing seattle's homeless problem got more complicated and the judge said the encampment clearing rules got more
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stuart: pilots for fedex rejected a tentative labor deal does that mean they're about tafanely walk off the job? lauren: no, and here's why. it's 5200 pilots at fedex. they rejected a deal, a tentative deal that included a 30% pay increase and a 30% increase to their pensions but they're not going to walk off the job immediately because they work under different union rules and talks are supervised under a national mediation board and they're ongoing and the president in this instance could step in and order workers back to work and congress could do something because of different labor works. stuart: getting everybody worried, of course. lauren: yeah, hollywood, ups, fedex. big industries. stuart: let's head to seattle where a judge just ruled against some of the city's homeless clearing rules, which he deemed
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unconstitutional. jason rantz with us. what does this mean for fixing the homeless crisis? >> we'll see, under the law, the city can immediately clear encampments deemed obstruction and that's been tents taking over streets leading into a hospital and emergency vehicles can't get through. what the judge basically said was the city was taking too much of a general approach to how they defined obstructions, but the truth of the matter is this was a case coming out of 2019. right now the current mayor isn't necessarily using that same definition. we might see a little bit more hesitancy from this mayor to clear some of these encampments with more urgency. at the end of the day, he has not approached homelessness with any sense of urgency, so i really don't see this as having too big of an impact because we're not really sweeping a lot of encampments hanging out for months and sometimes over a year. i don't see this having that big
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of immediate impact, long term, and it can certainly have an impact once we have a mayor or if this mayor decides to suddenly take this issue more seriously. stuart: got it. an environmental activist nicknamed droplet 2 is living in a 200-year-old red seeded tree that was going to be cut down and officials want to remove the tree to build affordable housing but, jason, she's not moving. you talked to her. how long is she planning to stay there? >> well, she says he's going to stay there as long as the tree tells her to stay there. it was a very interesting conversation i had with her. she's very well intentioned but she's a little cooky. she's droplet 2 and there was a droplet 1 for a week and she's staying for -- she's at the week mark on wednesday and they'll stay till the developer no longer says they're going to develop housing on this particular land. that's what they're trying to do here. there's six units scheduled to
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start construction soon and it requires them to remove the tree. they're saying no, we don't want to lose this tree. while i understand her position, they're going to have to pick a lane here and drive their ev down it. you either want to save all of these trees, or you want affordable housing. we're being told at the same time that we have an affordable housing crisis and here is a developer bringing in six affordable housing units and you're saying whoa, whoa, whoa, slow your roll, we don't want this on this particular land. you can't have it both ways. there has to be sacrifices. stuart: what does suburban seattle residents think of this and people in rural areas? they're looking in on this city that seems to be in dire straights to coin a phrase? >> yeah, the seattle residents seem relatively supportive and a lot of folks are showing up and old school activists and don't have it in them right now to do the long marchs or get involved but they can sit around a tree and protect from arborists
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basically. when you go outside of the seattle area, people are looking that the and saying, okay, it's a tree. we care about the environment, seattle residents do, washington residents do, but there has to be a give and take. if we can plant trees elsewhere and help the environment that way for the sake of housing, it seems like a good tradeoff. stuart: never get tired of it. but you make a good living exposing seattle's lunacy. you dorks don't you? >> it's job -- you do, don't you? >> social security job security, stuart. stuart: you'll be out of a job. we'll have to move to part land. stuart: jason rantz,. portland, fine place but it's always raining. getting to the markets, we'll show the markets and yes, we are. nice show of green. nasdaq up nearly 100, dow is up 70, s&p up 13. everybody is waiting for
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microsoft and alphabet's earning at 4:0 t00 this afternoon. ceo of lyft said workers should want to come back to the office because of the snacks. he wants workers to come back to the office three days a week starting in the fall. the company has had a fully flexible schedule in place since march 20226789 what do you think of -- 2022. what do you think of that? lauren: i might be the biggest snacker of all time. stuart: i can tell. lauren: if i were in a job to work from home and you wanted me to come back to the office and i'd been working from home for three years, you'd have to pay me more money. that's child care, your commute, your time. more or less if you're in the suburbs coming to the city, that's four hours a day. stuart: during the pandemic, fox fed us three meals a day and now really great snacks, fruit, bananas, and all that. lauren: ever take them home? stuart: moi? never. time for tuesday trivia
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will: congratulations to our producer giuliana, and her husband, they were married in westchester, new york, best to the newlyweds. breaking now, the teamsters union says they reached a tentative agreement with ups. ups with their staff, $340,000. the markets like it. ups is up. quickly, the trivia question. which continent is the only one without an active volcano? todd: i'm going with africa. will: i will go with africa as well. the answer is australia. australia is not a continent. the continent is australasia. time is up for me. coast to coast starts now. paul: following up on the sudden development where we have the ups
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