tv Varney Company FOX Business August 23, 2023 10:00am-11:00am EDT
10:00 am
10:01 am
>> will make it twice a week just for you. good morning, everyone 10:00 o'clock eastern. i move up for stocks at this point we are up 88 on the dow, 89 on the nasdaq, 20 on the s&p, the ten year treasury is going down that may be why the met enter nasdaq is getting help, four-point to 2% on the tenure. this time yesterday 4.33. the price of oil coming down, back to $77 a barrel, maybe that will moderate gas prices in the future, as for bitcoin last was 25 and change, currently it is 259 getting back to 26000. the latest read on new home sales just received, do you have a number. >> seven a 14000 homes sold on a seasonally adjusted annual basis in the month of july 4.4% increase over june was revised down, it was revised to 684,000.
10:02 am
stuart: were selling new homes at the annual rate of 714,000 does that sound strong. >> here's the conundrum home sales prices are about to cross over and be cheaper than existing home sales the market is broken in existing home sales, the average price for an existing home is equal to the price of a new home brewed a 40 or 50-year-old home in new jersey cells for the price of a brand-new home it does not make sense. >> the price of a new home roasted 436,700 that is the median price in the month of july. >> dm existing is 416,000 so you're almost at the crossover where people are incentivized to stay in their homes even if it's older interest rates are double and triple what they bought it for. >> that's interesting observation i've not heard it before but a break in market. now this goldman sachs is an investment banking giant, has an employee problem they don't want
10:03 am
to go into the office, one third of office desks worldwide are unoccupied all week, the boss that golden, the boss at goldman, david sullivan is not happy, he will crackdown on anyone not at their desks five days a week, he is miffed about friday's when the new york headquarters are said to be totally dead, s summer fridays e gone. getting people back to the office is an uphill struggle, at the beginning of this year, 49% of companies required full-time attendance at the office. now it's only 39%, issue looks like management is caving to the office workers. at the beginning of the year 51% of employers allowed their staff to remark should work on remote for all or part of the week, now 61% looks like management came
10:04 am
to the demands of the workforce, the trend is clear, remote work is gaining ground, back to the office full-time, losing ground, communication is also clear, this is bad news for big cities, if the workers aren't there there's goes encumbered revenue, public transit ridership and bar and rescue sales and its rippling to the financial sector, the value of office buildings is going down is over the bonds issued to finance them. they are all winners, in particular white-collar workers, they now have more freedom of lifestyle and location. three years ago, things were very different, office was full, cities vibrant then came the covid lockdown, that change so much including where we work and how we work. that pandemic changed so much. the second hour of barty just getting started ♪ ♪
10:05 am
>> lou basson is with me, he is going to be here for the entire hour. is there any turning back here, remote work more popular, work in the office five days a week less popular. >> i get to be completely unpopular with every employee, they don't have a choice, we are going to go back you have to remember who works for whom and in this environment when the labor market starts to tighten, employers are going to insist that you're there five days a week, here's the problem unintended consequences for backup the policies, we had lockdown for way too long people got used to not just working from home but the home being very far away, new york city 5% of the urban population moved and left they did not go to new jersey they went to florida, idaho when all these companies so you have to move back you have to move back not just to the office but to the state. they go see a lot of dislocation in the job market and as it gets tighter you can't get a new job at a more it's not like that
10:06 am
anymore the period of job hopping, lazy quitting does not exist anymore, i think we can have a bracketing, there is a power struggle, at the end of the day employers when i'm a unique perspective i work from home for 20 years when i started my own business, i get it from the employee standpoint it's a great luxury to have the fox ability but at the end of the day unless you're in business for yourself you could not make that choice. stay right there, more for you later. an op-ed vivek ramaswamy could surprise everyone at the first republican debate, liz peek wrote that enjoins me now. you call vivek ramaswamy a candcommonsense candidate. he's facing a lot of criticism lately. >> of course is taking a lot of criticism, what's in foreign policy would probably be something else. he is surging into number two a lot of the polls behind donald trump. obviously way behind donald trump. and he's an untested politician he could have a lot of gaffes along the way i'm sure.
10:07 am
here's why am interested in vivek ramaswamy, by the way i'm not sure he's the right candidate but i think he someone everyone should be intrigued by maybe because he's a tech entrepreneur. what does that mean. it means i called tech people and all entrepreneurs he's pretty darn smart and also he is approaching problems that we have with a different point of view, tech is all about disruption, innovation to new ideas and i don't know about you but as i look at her country and government boy do we need new ideas and a lot of his are what i would say commonsense. yes, two genders and we can talk about everything else or capitalism is the best system of government for raising people out of poverty and things like that. but the truth is vivek has taken on a lot of established ideas like our relationship with
10:08 am
israel and said let's look at this from a different point of view and nikki haley has gone after him for that. i think about it people would say if we can make peace between the arab world and israel maybe we don't need to give israel $3 billion a year, i think you will hear a lot of interesting things from him tonight and boy, again i think people watching the traditional politicians would like to be interested in some. stuart: is good to have a very successful business guy in the lineup. vivek is said to be worth shy of a billion dollars. doug burgum is a billionaire apparently used to work at microsoft. i think it's good to have business people who know how to run things, that a been executives before, they know what they're doing. it's good to have them in the lineup. last word to you. >> totally right, that is of course the appeal of donald trump in 2016, he was not a longtime politician but someone
10:09 am
who could manage things, all of us in new york remember that he took on redoing walnut ring, sound like a small thing but that was good to take 20 years and he got it done in six months. someone who can comment and make our government function better i say here here. by the way i agree i think doug burgum is an interesting candidate. stuart: he is indeed and we will hear more from him tonight i hope. liz peek, thanks a lot, will see you again real soon. we will be watching the debate at 9:00 p.m. eastern in just a reminder fox business will simulcast this debate. vivek ramaswamy, were back to him. he got into a heated exchange with cnn caitlin collins. >> is on a sugar high, now you have cnn a wide-ranging interview about about foreign policy and caitlin collins question his idea like taiwanese households against china and also the saudi's potential involvement in 9/11. she said he floats conspiracy theories.
10:10 am
watch. >> it is funny what i said on january 6 i do believe that there many federal agencies the field and we deserve to know who they are, on 9/11 but i said the government lied, this is incontrovertible evidence, the government lied about saudi arabia's involvement 20 years later. >> are you telling me your quote is wrong because it says -- >> it went on, at one point he was like kaitlan, kaitlan, kaitlan. then he went on twitter and said she was putting words in his mouth. he called her a petulant teenager. some critics are slamming him for what they called mansell aiming for a demeaning attitude but he was dating a friend self and answering her questions. but like i said he's on a sugar high so people are out to bring him down a little bit. stuart: i hate to get into this but anytime a man explain something to a woman is he there for mansplaining? >> i think that would be a
10:11 am
common critique. do you have any comment lou basenese? i'm not one to explain anything after that. stuart: you're a smart guy. >> he put her in her place several times and deservedly so. in some cases yes, not all. stuart: let's get back to nvidia we are on safe ground there. what you watching for. >> the price to perfection, there to talk about the guidance that's what everyone is going to focus on, the a.i. hype train is riding on this report and i would argue the bull market is hinging upon this producing the market react be entered based upon invitation. my dad is and i tell you niece had water they do not what they say and hedge funds are major holders, 3000 through 215 hedge funds own nvidia stock what are the biggest docs held by hedge funds they slow down their body last month, when they stop putting money to work and taking money off, it could be a turning
10:12 am
point. the keel is $437 per share that the 50 day moving average, for drops below 4% on a decline you can see this thing rollover. stuart: the other big event this week, the fed meeting. in your opinion what does the fed do. >> the fed stays the court, jay powell has been very adamant this is what were good to do the market just never believes him, he says in going to raise rates and keep them going higher for longer and i think we get nuance language that gives the fed data dependency to hold onto rates but i think we still have one more rate hike to go in will hold steady for a while. stuart: the ten year treasury yield is down nine basis points, that's quite a drop for 23 as of now back to the overall market in specific stocks that are moving i'm get a start with tesla, i believe. >> it was lower under report unchanged. they are doing nothing, they have lowered their production target after german plant. stuart: we will leave it right
10:13 am
there, moving on. abercrombie and fitch, will you look at that. >> no questioning here, up 22%, a new high they raise annual sales forecast, this is a retailer the retailers have not done well this week, strong demand for the latest fashion white tiktok marketing and what is trending cargo pants and crop tops. you would not notice this but you might notice this. when you go into a store they don't have your size, it is a thing because they cut their inventory so much, abercrombie inventory cut by 30% the quarter, fewer discounts, profits go up, it is a good story for the retailer if they can do it, bad story for the customer who likes to deal. >> i doubt that they talk about theft and shrinkage at abercrombie but coles did. >> the earnings call just got comments for what the ceo said on the call he expects shrink to
10:14 am
continue on the back half of the year, what are they doing about it, cabling products to fixtures, putting attendance in the fitting room with you but in order to stop it full out, he said legislative step up, we need a legislative step up and arrest the people who steal from you stories. >> when you have ceos like lululemon saying that i could arrest you there punishing the employees. >> i think the ceo is in the minority right now. stuart: the world turned upside down is ridiculous. now we told you about the dangers of young children and teen smoking e-cigarettes. teachers and parents are being worn to look out for vape pins disguised as school supplies, we have the story for you. speaker mccarthy warranty could open an impeachment inquiry into president biden very soon, he's not happy with the white house low walking and the request for documents of the biden family business dealings. the stakes are high if the republican candidate made it to tonight's debate stage, grady trimble live in milwaukee he is speaking to voters on their top
10:16 am
ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. i did have hearing aids from another company... i was just frustrated... i almost gave up. with miracle ear it's all about service. they're personable... they're friendly. i'm very happy with them. we provide you with a free lifetime of aftercare.
10:17 am
10:18 am
10:19 am
10:20 am
take center stage we've been talking to voters here and across the country the water your republicans plan to tamp down inflation, unleash american energy and rain and government spending. each candidate tonight will be looking for their breakout moment and house speaker kevin mccarthy says whoever makes the most compelling case on the pocketbook issues will stand out not only on the debate stage but against president biden. >> this guy is out of tune and out of touch and i'm get a watch this debate looking for the individual who lays that out best making argument against biden economics and for a more prosperous america focused on america first. >> the candidates taking center stage tonight will be for the governor ron desantis and vivek ramaswamy, you mentioned north dakota governor doug burgum, he says because of the injury he got from basketball it's not clear if he'll be able to stand on the debate stage but we do
10:21 am
know he is out of the hospital. the position on the debate stage is based on their position in the polls right now, because of that desantis and ramaswamy could spend some of the night if not a lot of the night fending off attacks from the other candidates, the communications director for ron desantis super pack says he's ready for the hits. >> everybody's going to try to take a shot of the top guy it does not mean they will land it and i've seen him on the trail and he does exceptionally well when he is pushed. several of the voters that we talk to said that they have not made up their mind on who they're going to vote for and they can be persuaded, whoever makes the best case on economic issues could win over a lot of people here in wisconsin and across the country. stuart: we appreciate you being there, we will talk soon. let's begin job or raleigh who is a republican. do you think new york city and
10:22 am
the multitude of problems will be a target for the republicans tonight. >> it certainly should be, certainly any city in this country that is governed at the state level in the city and county level by democrats should be a bull's-eye for some of the folks on the stage. if you look at new york, chicago, san fran and everywhere in between and you are seen hard times. you are seen hard times in terms of crime rates in hard times of migrants, now as this report using hard times economically. new york just had a $1 trillion and manage money with the state last year for greener pastures in florida and texas and nashville ended number of other cities welcoming the financial industry with open arms. this is a great topic for these candidates to focus on instantly were to focus on ukraine in the big issues nationally but if you
10:23 am
want to point to an area of domestic policy were democrats have almost exclusive control and they have failed at every level it is america's large cities. stuart: they are the target, a new poll shows over 80% of new yorkers believe the migrant surge is a serious problem. is that going to get any attention at the debate tonight? >> it should, this is a democratic city, democrats out roll and roll republicans five or 621 here in new york. what that shows me not just democrats have been misjudged but democratic elected officials have missed judge how tolerant their own voters are. i told the mayor months ago they have severely misjudged how much their own voters would tolerate the crisis. now that we have spending that exceeds how much we ask spend on the fired apartment, and the department combined, homeless
10:24 am
shelters for examples are always controversial now we have 198 in every single neighborhood of new york city so this is something that was severely miscalculated by the adams ministry should and they chose to candor to the woke left when this first began to back themselves into quarter and they should've dealt with nassau the county executive who's been on the network a bunch of times he said we are not in sanctuary city and were not taking migrants, for good is suez, suez, were not going to do that that will prove to be the better plan and one we should've followed. stuart: that will come up tonight or at least it should. thank you so much for being here, we will see you again soon. speaker mccarthy is throwing around the word impeachment, why is he bringing it up this time. >> because he docketed the documents requested the house committee. he wants the biden administration to show us proof that no one in the biden family received money from foreign nationals.
10:25 am
the problem is there is now a special counsel investigating all of this in the white house can hide behind david weiss and therefore not turn over the documents. mccarthy's were needed impeachment inquiry could be brought when the house reconvened september 12. stuart: is very interesting situation developing. maybe impeach president biden. donald trump looked at in atlantic county jail, debate last night or tonight in wisconsin, what a situation. look what we've come to, american politics. an amazing. >> the candidates have so much to go back, attack biden and trump and they're both not there. stuart: they could attack desantis as well. kansas city chiefs patrick mahomes and travis kelce rt made up together off the field. we will tell you about the new business venture called chicken and pickle, you don't want to miss that. kevin said hollywood canceled him because of his christian faith.
10:30 am
stuart: nvidia checking out reports at 4:00 o'clock. it's up $6, 1.5%. what a performer we will see how it does after the numbers come out. lauren is looking at other movers, netflix is up. >> about 4% a research firm says netflix sign-ups remain high fueled by the crackdown on those who share passwords, 100 million households shared passwords committee people myself included thought people would dig it because they did not want to pay, they are paying and buying the cheaper ad supported, the crackdown is working. stuart: advanced auto parts is down. i miss and a guidance cut, new executive leaders name included a new ceo who comes from home home depot takes over as ceo. that's all i got.
10:31 am
>> brigade and new executive 3.8%. nike. stuart: worst performer on the doubt, it's down for the tenth straight day extended the longest losing streak on record down over 7% more than $13 billion in market value wiped off, he can tie this to the news out of dick's sporting goods and the newsletter footlocker with the comments of the consumer because on the same category. nike's cells to stores like macy's for instance. stuart: thank you. as the hollywood strike carries on, the ramifications are stretching beyond tinseltown. ashley webster is in a suburb of atlanta. how much of an impact could distract have on georgia? >> a huge impact, 30 happening. i'm inside the central atlanta props and sets. it's absolutely enormous, 200,000 square feet warehouse
10:32 am
full of items that can be used in movies, over a million of them everything from table and chairs and sofas, old computers and tvs and old bar equipment, the whole bar is used in the background of movies even the fake croissants and bagels. another fake i tried to eat them. the impact of the strike has meant all of this is coming screeching halt businesses like this i want to show you the production of the last fiscal year 269 tv productions, music videos, commercials, independent, 32 movies were shot here in the last year and of course as i say all of this has come to a screeching halt because are not doing any shooting lame bringing jeremy allen the owner of the enormous props and sets business. thank you for being here, business is going to be tough it has come to a halt. >> is definitely stopped once the actors stopped it really dropped off a cliff basically.
10:33 am
>> how much, what we talked about. >> probably 70%. >> have you had to let people go. >> up had to let half of my stuff go. >> some operations have had to shut down. >> as some have had to. it is hard there is no guilt or any programs for prop houses for independence so were just trying to weather the storm. >> thank you very much, giving you an idea the effects of what happens with the writers and actors strike $4.4 billion in the last fiscal year was generated in georgia by the movie industry, i should point out jeremy is always looking for items, if you want to search around in your combo in hoboken anything's from the 60s and 70s and says integer is in high demand. you might want to go to your closet you might have valuable items. stuart: very funny indeed. i'll pass over that one and we may or may not see you later. that was a very good story.
10:34 am
my next guest says hollywood canceled him because of his christian faith. actor kevin sorbo is with me now, welcome to the show it's great to have you with us, would you explain interviewers how you were canceled over your faith, how did it happen. >> i think i was the original cancel culture 20 years ago my manager in agent told me they couldn't work with me because the things that was posted on the internet, facebook took me down to a half years ago because that was posted the truth and they don't like the truth, they tell me my conservative values and christian values that i was not somebody people wanted to work with because i found interesting, if you're christian in hollywood that's like a double left, apparently i'm kryptonite to the hollywood elite hollywood owes me nothing, it is a great place to go. into me it's like i've been
10:35 am
doing a bunch of movies on my own, independent movies we raise money anyway we can i do movies hollywood used to do hope, faith, redemption and laughter hollywood doesn't want to do this on feeling the gap with what if, god's not dead, soul surfer, my most recent wedding october called miracle needs texas, truth stories of the 1950s, i hope people go there and sign up and get tickets right now. stuart: i'm sure you saw this jennifer aniston speaking out against cancel culture, she's telling the wall street journal, i am so over cancel culture, probably just got canceled by saying that, i don't understand what it means, is there no redemption, what do you say to that. >> i love hearing that from 70 like her she's a powerful player in the world and there is so much truth i think people reach a point that they're sick and tired of it is ridiculous that people are being attacked for a different point of view and i get attacked every day on twitter it's fun little trolls that follow me i post a little
10:36 am
scribble that are stochastic truth. stuart: do you do the christian thing and turn the other cheek? >> i can't turn the other cheek, i turn more than most people do in terms of people coming after me i just don't pay a whole lot attention on the negative comments out there, to me i will keep posting the truth and i posted something on twitter a long time ago and i said any more conspiracy theories because mine keep coming true, i'm going to plug along and i hope people will jump on board and go to struggle studios, there's a lot of good movies coming down the pipeline. >> it is a wonderful thing, thank you for being on the show, best of luck to you. >> thank you for your time. >> kansas city-based knuckleball restaurant, chicken and pickle just secured funding for their plan to expand, the famous
10:37 am
football investors. >> to kansas city icons, chief quarterback patrick mahomes' and titan travis kelce to expand to 50 new locations with $10 million in funding among the consortium. patrick mahomes is 27, he is a very impressive business portfolio he owns part of the soccer team, the kansas city baseball team, tech companies, life sports mobile apps, now this. stuart: what is a chouchou namegabe to pickle restaurant. >> chicken and pickleball, i thought that was said you can eat chicken and play pickleball. young people like it. >> it is not a sport. >> you should come to florida, i don't know if you know much about pickleball, the industry.
10:38 am
>> do you think it is peaked. >> i do, patrick mahomes, tom brady, merrick and footballers putting hard earned money into a restaurant concept, this is a hype cycle they will do okay because there plenty of money to lose but it's a key sign when you see conversions of tennis courts into pickleball courts throughout the country, you will see a lot more knee injuries going on in the aging demographic but it's a activity. >> in my defense, madison alworth books the court at a new york city bar where you can book and play and she is young. stuart: you can do that in new york where you drink. >> do you want to go? >> put the youngsters to the test. >> moving on, have a student loan debt could help you book your next trip, listen to this, frontier airlines will match or student debt with airline miles we will try to figure how it works and will give it to you in a full report, from killing the keystone pipeline to pushing the green agenda a hot topic for the
10:39 am
10:42 am
somebody would ask her something and she would just walk right past them. she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i started crying. i could hear everything. call 1-800-miracle and schedule your free hearing evaluation today.
10:43 am
stuart: on the market, the nasdaq is doing very well, 168 points, one point to 4%, long-term treasury yield down a bit. i think that is helping a little bit for the nasdaq. republicans are going to take on president biden's energy policies tonight, i'm sure they will. i expect them to. edward lawrence at the white house. are weakening your republicans tear into biden's green push
10:44 am
tonight. >> will get here pulled her opposite positions from the republicans, deputy white house press secretary hopes president biden will not watch the debate tonight but. the biden policies will be on trial when it comes to energy. president joe biden believes he is a mandate to force the transition to electric and all aspects of light from kitchen appliance to cars. >> we will give a boost to clean energy that pay prevailing wage and apprenticeships and use made in america parts and products. and not buying international trade agreements. it is all in the law. >> republicans point to low numbers on the economy in the latest fox news polling saying the president is out of touch, americans paid about 20% more for food at the grocery store now than the day president biden came into office, a gallon of regular gasoline is $1.45 more per gallon then when president biden came into office. this is the difference that you
10:45 am
will hear from the two of the center stage tonight. listen. >> bidenomics is basically americans have a lower standard of living so he can pursue his political and ideological agenda like the green new deal. that is unacceptable. >> i think the u.s. president can do a few things and i intend to deliver on the pre-checked in the ministry of state, to put on to declare independence from china, grow our economy. >> president joe biden refusing to change 80 of his and energy policies from day one no matter the poll numbers and where inflation goes and no matter the hardship that americans are seen. stuart: thank you very much indeed. lou basenese, follow me from the green energy push. you spent a lot of time from rick perry former energy secretary from president trump, was he telling you that we need nuclear power. >> he was this is interesting i spent the weekend with them at a conference.
10:46 am
what people don't realize he was a democrat then reagan then came over to be republican. as texas governor he said a mandate for 15% of the energy to come from renewables very early on, texas got up to 46%. as secretary of energy he saw all the innovations going on drought the country. he was very adamant that he believes nuclear power is the next wave and it's really reliable, sustainable in a way to have a reliable grid which was almost a catastrophic failure in texas. i was impressed, he was refreshing and common sense politician and i wish we could get more of that back. from a energy policy standpoint there's no way we can go to 100% electric vehicles and 100% renewables. it's not sustainable. government really needs to realize that. if they don't, if they wait too long, when the grid breaks in the populace is without power for weeks, not days or hours, that's when it'll come to home. stuart: i wish the greens would understand the nuclear power, the new nuclear power.
10:47 am
>> is the new nuclear power. stuart: good stuff. thank you very much. lauren, is the biden administration planning new restrictions on oil and gas companies. >> in drilling in the gulf of mexico to be exact. the biden demonstration reached a settlement with economic groups to protect whales. certain species. the bureau of ocean management created vast new protections in the golf restricting vessels size, speed and 11 million acres of oil least block for sale. bottom line you hinder exploration and production of energy so this move is inflationary. stuart: i'm going to leave that alone before my head explodes. save the whales. donald trump is a maverick but jailing him could force a civil war like split in america. nigel farage wrote that, he was going to join me in the next hour. we're talking about dozens of companies clean san francisco, today one business is moving in,
10:50 am
10:51 am
so, i went to a second hand specialist who also offered nonsurgical options - which felt more right for me. so, what i'd say to other people with dupuytren's contracture is this: don't wait —find a hand specialist trained in nonsurgical options, today. i found mine at findahandspecialist.com. i suffer with psoriatic arthritis and psoriasis. i was on a journey for a really long time to find some relief. cosentyx works for me. cosentyx helps real people get real relief from the symptoms of psoriatic arthritis or psoriasis. serious allergic reactions and an increased risk of infections or lowered ability to fight them may occur. tell your doctor if you have an infection or symptoms, had a vaccine or plan to or if ibd symptoms develop or worsen. i move so much better because of cosentyx. ask your rheumatologist about cosentyx.
10:52 am
stuart: look at the nasdaq go, up 180-point and a long-term interest-rate like treasury yield on the ten year as they come down the nasdaq does very well. the dow is not doing very well either. dozens of companies are fleeing downtown to francisco fed up with rampant crime, homelessness and drug abuse. ikea, is now open a new location, kelly o'grady joins me, why did ikea go to san francisco of all places. >> i spoke with them and despite everything they feel like san francisco is the perfect spot for what they're calling a city story. the smaller space compared to the suburb locations in is really going to focus on city living solutions and this is
10:53 am
already in motion prior to property crime spiking in san francisco in the parent company purchased it for 260 million back in 2020 and renovating every sense and ikea will serve as an anchor for retail development. the company tells us the new city format in the midmarket area brings us closer to our customers by meeting them where they are and providing an ikea experience affordable, accessible and convenient. the market in particular is a strange choice this is a poster child for the san francisco doom loop is known to be hit particularly hard by crime and foot traffic, retailers like whole foods and nordstrom's have left and the westfield mall has left altogether they stop payments on $558 million loan so i press ikea on the challenges and they acknowledge the situation but shared that there committed to making the location successful. i'll highlight this they may not face the same challenges as other retailers and it would be hard to steal furniture easily,
10:54 am
there also partnering with taskrabbit to deliver items next day. you could order online and never have to step foot in the store to pick it up, that could be good for ikea but not with the area and general. stuart: well said, thank you very much indeed, on the same subject, the owner of gums in san francisco which happens to be the second oldest retailer establishment and the whole country. your store is 165 years old. >> 166 this year. >> are fed up with homelessness, crime, et cetera have you made the firm decision to leave? >> know our hearts are in san francisco and we want to stay in san francisco and were plating for the worst because the city doesn't seem to make enough progress on the terrible problems that they have. stuart: is it a cultural problem in san francisco. >> attica has multiple, there's a holdover problem from covid, empty offices don't work in cities. until they come to grips with the fact the three day work weeks do not work for small and medium-size business it's very
10:55 am
difficult for us and to be successful that is a problem. there is urban problems that are driven by policy in san francisco specifically, they do not exist in every city. in san francisco homelessness is a tremendous blight, is incompatible with the successful business environment. stuart: i've been reading some your stuff, you seem to be saying people these days don't want to work. >> i think it's a combination, i find it astonishing that government, let's start with federal government, state them in a civil government, the idea that i pay to rent space, those parts of government tell their people don't come into work is just idiotic. to be the starting place to be the federal government, governor newsom, it's a five day week job, the reason is five day a week because government is an organ of successful commerce. if you have people going to lunch and dinner, buying gifts, going to a sporting event, conference, small and medium-size business the traffic
10:56 am
diminishment kills us and it's happening not just in new york, walk madison avenue or san francisco, it's a huge problem. stuart: have you heard anything from the city. >> i've had in bounced from several of the supervisors who i think are troubled by the ideas, gums is a cable car, a sleeving is a big deal, i've had a hundred letters from people in san francisco, customers begging us to not leave. the mayor had her business development call, they would have a business call. i waiting to see the governor and bear start to really engage to do something about it. stuart: we hope something good happens. dumps san francisco. thank you for joining us. in luke, think of for being with us. always appreciate it. shannon bream on trump turning himself in to pot under prosecutors tomorrow. bill hemmer will break down the issues and talking points. nigel farage believes jailing trump will create a huge division in america. i think he's right. the 11:00 o'clock hour of "varney & company" is next.
10:58 am
has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. - they get it. they know how it works. and more importantly, it works for them. - i don't have any anxiety about money anymore. - i don't have to worry about a mortgage payment every month. - it allowed me to live in my home and not have to make payments. - linda, dinah, joanne,
10:59 am
very different people, but they do have a couple of things in common. they love their home and they know their stuff. they all talked about the counseling they got so they knew how reverse mortgage worked and how it could be a real financial solution for their retirement. - [advertiser] if you are 62 or older and own your home, find out how you could access your home's equity to give you cash now and when you need it in the future. a reverse mortgage could put more money in your pocket by eliminating your monthly mortgage payments, paying off higher interest credit cards, and covering medical costs. - a person like me needed to get a reverse mortgage. it changed my life, it was the best thing i've ever done. - [tom selleck] really? - yes! without a doubt! - just like these folks, medical costs, and give you some extra cash aag can show you how a reverse mortgage loan uses your built-up home equity to give you tax-free cash. they also know they can pay it back whenever it works for 'em.
11:00 am
from a reverse mortgage loan for a better retirement. - it's a good thing. from a reverse mortgage loan for a better retirement. - [advertiser] call right now to receive your free no obligation info kit. the kit will show you how you could get the cash you need using your home's equity as a reverse mortgage from aag. - call the number on your screen. - i've been with aag for quite a while now. i think they're the real deal. - call the number on your screen. so look, why don't you get the facts, like these folks did, and see if a reverse mortgage could work for you? - [advertiser] call aag, the country's #1 reverse mortgage lender. - call the number on your screen. >> there's a lot of weight on nvidia's earnings today after the bell. because of the runup in this company, if they do have a positive earnings report, is that going to carry on, are you going to see profit taking
37 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on