tv Varney Company FOX Business March 12, 2025 11:00am-12:00pm EDT
11:00 am
>> ♪ how do you like me now ♪ stuart: oh, yeah, "how do you like me now" don't you love it, sports fans? it is 11:00 eastern time and it is wednesday, march 12. let's get on with it. look at the market. you're down 300 points on the dow industrials. the nasdaq is up 73. i've got an explanation in just a moment. show me big tech please. there is a mixed picture.
11:01 am
nvidia, alphabet up. amazon, microsoft, apple down. the 10-year treasury yield, where's that after the inflation report this morning? it's above 4.3%, and here are the steel and aluminum stocks, bearing in mind the tariffs that are now in place. it's a mixed picture. alcoa is up, steel dynamics up, cleveland cliffs up but united states steel is down a little. now this. the tariff story moves very quickly. tuesday, on this program, we watched things unfold. trump threatened big tariffs on canada. ontario's premier, doug ford, threatened to cut electricity supply to america. trump said, you do that and my retaliation will get down in the history books. ford backed down. all this happened during our three hour show and we watched the market gyrate in realtime. as of today any steel or aluminum that comes into this country will have a 25% tariff slapped on it, within
11:02 am
hours, the europeans had slapped tariffs on american products. that's the backdrop to this mornings interview with commerce secretary howard lutnick. remember the president makes the tariff policy and secretary lutnick carries it out. he told us first, he says, he's going to lower the temperature in negotiations. >> we're going to lower the temperature, you know, he thought he'd be sort of the big man and tackle donald trump but you know you can't tackle donald trump. he is the most important, smartest, most capable leader in the world and he's not letting someone push him around. the right answer is if you take a step back, what does the president want? he wants to worry about major things for national security of america. going to make sure these things come back to america, and are built in america. stuart: now, he also warned that the price of steel will go up. watch this. >> some foreign steel will go up for sure, but then, they will
11:03 am
build those plant in america. we will have, our plant production in america is only operating at 55% and that's got to get up to 80%. you've got dumpers in the rest of the world, japan jumps steel, china dumps steel. what that means is they make it, they over produce and they sell it dirt cheap to try to drive our guys out of business. the president is here to protect american workers. stuart: all right now, he made this promise about tariffs and creating a strong domestic industrial base. watch this. >> nothings going to stop that until we've got a big, strong, domestic steel and aluminum capability, and by the way he's going to add copper to that mix too so just remember, national security rises above all other things. people get lost in this stuff. we must have steel and aluminum. we must have semiconductors. we need to have cars and automobiles. we need to make these things in
11:04 am
america. stuart: it's going to take time to ramp up domestic production. by the way starting tomorrow, canada says it will impose a 25% retaliatory tariff on u.s. goods worth 20 billion. that will include steel, aluminum, as well as things like computers and sports equipment. the news is coming thick and fast and the third hour of "varney" starts now. i'll start with the market. mark tepper joining me. the industrials look at that down 337 points. the nasdaq is still in the green. my explanation is that these tariffs on steel and aluminum will hurt industrial companies, and industrial companies belong in the dow industrials. >> industrials for sure. quite frankly any company that sells a physical product will be more heavily impacted than
11:05 am
companies that sell services which is where a lot of big tech is at, obviously. but you know, so i'm not having conversations with the ceo's of these industrial companies every single day of the publicly traded ones but i am having conversations with the ceo's of privately-held industrial companies every single day. these are companies doing 50 million a year in revenue, 100 million a in revenue and still sizable privately held companies, and it's not just the cost of the tariffs that is bothering them. in fact, they can figure out a way to navigate around that. what's going on is the whole wait and see approach. that is the opportunity cost that really getting to them. stuart: you can't buildup the domestic aluminum and steel industries rapidly so the tariffs stay on and that's the state of uncertainty continues. industrial companies. >> yes and beyond that it's just the uncertainty surrounding any growth initiatives or plans they have for growth in november and december. those are on pause right now until they figure out what exactly is going to happen in regards to tariffs. stuart: stay there i've got more
11:06 am
a bit later on. martha maccallum is with us this morning. martha? trump is, i think, he's shocking everyone with the extent and pace of the revolution. i mean, just today the environmental justice, that went out the door. the education department laying off half its workers. in this context, can trump maintain political support when he's moving at that pace? >> i'd love to jump off of something that mark just said, because i think that it be great for howard lutnick or president trump to articulate to small and medium-size businesses across this country what he can do for them in the meantime. can you get a tax cut? depreciation on your purchases? ways to offset this pain which he says will be short-term. i also think that listening to you talking about how long it takes to ramp you'll steel factories i'm thinking about world war ii. so if you approach this from that perspective, look, we are even call it a trade war if you like, but what we need is
11:07 am
american companies patience, diligence, we need to get people working in this country, manufacturing, be part of this project, to ramp up production here at home, and to help bring down the cost of things and give it a timeframe. say you know, it took 18 months to do a military build-up in the united states during world war ii. it's going to take 18 months for us to get through this process and give people a timeframe on it and what they are going to do to make it a little bit easier for the small businesses along the way, medium businesses, and make it a national project that people can get on board with. i think that will go a long way. stuart: or better yet get rid of the tariffs and have reciprocal trade and reduce tariffs and get on with the business. >> i think that's the goal don't you? stuart: it is. >> so i raise tariffs on you, you raise tariffs on me, eventually we decide what works best for both sides is to have an equal playing field and that's the goal. i don't know how long it's going to take. stuart: the sooner that happens the better but that is the goal. martha this one for you.
11:08 am
democrat senator slotkin says america is in its angry teenage years after trump's victory. interesting, watch this. >> i think there's a feeling in the country and i often say this. we're about to turn 250 years old. we're still pretty young for a country. these are like our angry teenage years. we are going through this push and pull where we're happy, we're sad, we want this and that, and what do you do when you have a teenager whose threatening themselves and others? you just try to get them through this period alive so their brain can fully form and you can come back to kind of what the country -- >> are you talking about trump? >> no our country. we're pendulum swinging. stuart: we're in our angry teenage years. go at it. >> so this reminded me of a piece that was written by victor davis hanson, not too long ago, who talked about what the way he sees it, which is a counter revolution, against the obama years and the four years of
11:09 am
biden in terms of what happened to the country and change. culturally, you know, in terms of growth of government, all of these things. cancel culture, taking down statues and he argues that we're going through a period of counter revolution and i think that lines up with a lot of why you saw the victory for the trump side in november because they were, it was sold as a return to normalcy, a return to common sense, and i think that resonated obviously with more voters than it didn't, because you saw a big republican sweep. so i think the counter revolution returned to normalcy is a more powerful argument given the outcome of the election. stuart: i think you're right and we are going to watch you at 3:00 this afternoon on fox news with the story with martha maccallum. we'll be watching. >> we'll welcome you all. stuart: thanks for coming on the show. >> thank you. stuart: coming up a government spending watchdog is calling out aoc. they accuse her of misusing her taxpayer-funded member allowance. we'll tell you what they found.
11:10 am
democrats panicking over trump's move to shrink the education department. here is what education secretary mcmahon had to say about it. roll it. >> well clearly we're not taking away education. the president never said that. he's taking burr okay radicals out of education so more money flows to the states. stuart: well our next guest says the education department needs to be abolished to get kids learning again. the "wall street journal" kim strassel is next. ♪ where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management
11:14 am
the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families like my own. in the average household, there are dozens of connected devices. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. stuart: president trump and his administration are making radical changes.
11:15 am
those changes, it's like a revolution and it's coming thick and fast. take us through the latest, madison. reporter: this is fun. we have such a big list we've made a nice scroll so we'll throw that up now. as you say, stu, he's trying to overwhelm the system and you can see it's happening with this scroll so just a few of them. january 20, he renamed the gulf of mexico to gulf of america. on the same day he moved to end birth right citizenship. three days later trump pledged to retake the panama canal. then we move to the start of february. he moved to dismantle usaid, bringing it to march he imposed that 25% tariffs on all imports from canada and mexico and an additional 10% tariff on all imports from china. then on march 7, he canceled 400 million in federal grants and contracts to columbia university. i've obviously covered just a fraction of what you've seen on the screen, and we haven't even hit 100 days yet. we're at like 60 something, i think under 60. he's got a lot more work to do and he's already done so much. stuart: you had to talk fast and
11:16 am
you couldn't get it all in because he's done so much. reporter: i looked through the list and thought how do i possibly pick from this so i did a little bit from each month. stuart: we've got it all on the screen. good stuff. the department of education will be closed all day today, due to "security reasons." this after the department cut nearly 50% of the staff. here is what education secretary linda mcmahon had to say about it. >> well clearly we're not taking away education. the president never said that. he's taking the bureaucracy out of education so more money flows to the states, better education is closest to the kids with parents, with local superintendents, with local school boards. i think we'll see our scores go up with our students when we can educate them with parental input as well. stuart: the "wall street journal" kim strassel joins me now. kim? is this how, this looks like the first step towards getting rid and abolishing the department of education entirely. is that where we're going? >> well let's hope so, stu.
11:17 am
you know, i've heard some critics of the education department, the federal education department call this an experiment in federal control on education. i think that's too generous because an experiment, you don't know what's going to happen. it was always clear from when the department of education was created, it was a pay off to the unions by jimmy carter, for their political endorsements and it was setup and has served as a hand made for teacher union priorities ever since. it's not about the kids. this is about making state and districts run and chase after federal dollars that lock them into best practices. most of that money is used to pay the salaries to the doe, or to require the districts to hire more middle management that fill out all of the grant applications, and lock these districts into doing these federal requirements, and it doesn't allow them to actually focus on their own kids, so at the very least, i don't think he
11:18 am
can get rid of all of this money on his own, but you know, block granting, give states total ability to make their own decisions about how they are going to use it to better their education scores is not what's happened for more than 40 years. stuart: i sense that the teacher's union may be on way out within a few years. what do you think? >> well look. this is a major source of their power, and then if you look out what we've seen is that covid and the lockdowns and school closures were a huge wake-up call for parents. they are now reengaged. they are calling, we have had this massive school choice movement spreading across the states and all kinds of innovation going on there. now another piece of it is to deal with public education and right now, again, one of the straight jackets to those districts getting creative about how they do things is the department of education. stuart: yeah, it is. the university of pennsylvania is freezing some hiring, reviewing capital spending
11:19 am
as well and face funding cuts from trump over anti-semitism on campus. now, kim, earlier this morning, we had a professor from columbia on our program and here's what he said about anti-semitism on campus. roll tape. >> what we have on our campuses and it's not just columbia university. it is not just the ivy league. we are seeing decades of indoctrination against not justicer and the allies of america. not just anti-semitism but indoctrination in the classrooms. professors who are brainwashing the minds of the future leaders of america against the west. it does remind me of the 1930s in terms of the brainwashing, the mindless following of hamas and hezbollah. stuart: okay, so now, we're taking the money away. will that finally root out anti-semitism on our college campuses? >> i think that it's a better shot than anything that's come up until now, stu. if you think about it, look.
11:20 am
we've hauled these people in in front of congress, presidents have issued warnings. the communities of these universities and parents have complained and nothing really has happened. now the one thing that did seem to get their attention was when donors started to say we're not going to give money anymore, and this is one of the merits of pulling back federal dollars too, because it increases and enhances the seriousness of that. by the way, stu, i think people were mesmerized to see that $400 million to columbia from the federal government, like what on earth is all of that money going for and funding, but at the very least, if we are going to be that generous, they should be complying with civil rights law, for instance and doing something to make sure their campus is indeed safe for everyone who attends. stuart: but the professor did make the point the scientists and the engineers, they've not been infected by anti-semitism. it is the humanities. that's where anti-semitism
11:21 am
lives. last word to you. >> yeah, absolutely, and it's nice to make those distinctions but fundamentally maybe we need pushback from those departments to get change in the other departments that aren't listening and getting the message. stuart: good point kim strassel thanks as always for joining us see you again soon i hope. >> thank you. stuart: the non-profit organization, it's called "americans for public trust" filed an ethics complaint against aoc. about what? >> about some payments she made to a dance company. but i'll explain. so, the non-profit highlighted several troubling expenses that came out of her member representational allowance. think of it like an allowance, a budget that is supposed to be used for official congressional duties. it's not allowed to be used for personal or campaign purposes, and she's saying she used her allowance to make two payments, one of $3,700 to juan d. gonzalez and another of $850
11:22 am
to bamboso dance co., inc. and both payments were described as being used for training and the non-profit is saying this is likely campaign activity and should not have come out of this budget. the director of americans for public trust told fox digital, "representative aoc's troubling payments from her taxpayer-funded account for activities such as dance classes should be investigated." aoc says this is false, saying, "100% wrong. none of this is taxpayer money. this is an fec filing. try again next time." but the americans for public trust say that her assertion is alarming because it's not an fec filing and this is reflective that maybe she doesn't understand what's going on and they want the office of congressional oversight to look into this. congressional ethics to investigate this. stuart: ethics. all right, thanks madison. check those markets again, please. still a split decision. dow is down 360. nasdaq up about 60 points.
11:23 am
take a look at bitcoin this morning. just hovering right around 80,000 as of right now. $80,000 per coin. coming up, president trump promises to punish vandals responsible for attacks on tesla dealerships. >> some say they should be labeled domestic terrorists. >> for those people that are going through big problem when we catch them. stuart: we'll tell you what else he had to say. there's a new book out evaluating gavin newsom's ties to the chinese communist party. his office responded the book by sending us a meme from this famous moment on the popular sit com, "it's always sunny in philadelphia." watch. >> this company is being bled like a stuck pig and i have a paper trail to prove it. now can we talk about the mail? stuart: okay. we're going to get into that with the book's author that's susan crabtreasury, she's next. ♪
11:24 am
11:25 am
♪ ♪ you were made to chase your passions. we were made to put them in a package. - it's apparent. not me. - yeah. nice going lou! nothing like a little confidence boost to help ease you back in to the dating scene. of course, that also includes having a smile you feel good about. fortunately, aspen dental specializes in dentures and implants made just for you, with affordable options and flexible ways to pay, and now, they■re 0 dollars down plus 0% interest, if paid in full in 18 months. helping our patients put their best smile forward. it's one more way aspen dental is in your corner.
11:27 am
(background sounds) investment opportunities are everywhere you turn. do you charge forward? (background sounds) freeze in your tracks? (♪) or, let curiosity light the way. (♪) at t. rowe price, we're asking smart questions about opportunities like ai. and how the industries born to support ai might better support us all. better questions. better outcomes. t. rowe price stuart: we still got this mixed market here dow down 250, nasdaq up just over about 120 points. mark tepper is with me
11:28 am
this morning. i think we need dividend plays in a market like this i could use a good dividend play. what's this? vig? >> if your belly is queasy given this volatility i think dividends could be a solution, obviously, historically dividend payers have outperformed non-dividend payers, with like 30% less volatility. now, dividend payers have underperformed, pretty much since the great recession and quantitative easing started so vig is invests in the dividend aristocrats which are companies that increased dividends for 25 consecutive years so if you want to still be in the stock market but tone down the risk could be a good solution. stuart: the other one is swp, growth and income. >> yeah, so swp, it is an etf that holds growth stocks so you're not sacrificing any growth, any of the growth oriented themes, and you're also picking up a very nice dividend in every single one of those stocks as well so kind of a hybrid growth in dividend play. stuart: not bad. mark thank you very much. now this.
11:29 am
a new book is exposing what the author calls ties between california's governor gavin newsom and the chinese communist party. it claims newsom's history with a non-profit organization served as a gateway for corrupt ccp-aligned corporations to flood into california. okay, we asked governor newsom's office about this book and they sent us a link that brought us this image of a meme. okay that's what they sent in response. that's the governor newsom's office responding to the book. well susan crabtree wrote the book and susan joins me now. would you spell out, please, precisely, give me a minute here, on what the ties are between newsom and the chinese communist party? >> well first here, i would like to respond to that comical meme. it's like a school yard bully when you don't have anything substantive to reply with, you just start name-calling, and i'm going to take a page from elon musk and say when you hear it
11:30 am
you might be over the target. stuart: tell me exactly what are the links you've got in the book? >> absolutely. so, gavin newsom when he was mayor of san francisco, he founded this non-profit called china sf, and it recruited chinese business and investment through tax incentives to the bay area and all of california, but what we found is that it streamlined a path for chinese criminals and ccp officials to infiltrate california, buy up the real estate and bribe government officials and get intellectual property from american companies. stuart: look, if anybody has a relationship with chinese business person, that person, you could say, well that's a link to the chinese communist party because all chinese business is run by the chinese communist party, so that makes your thesis a bit like a conspiracy theory, because anybody who has any contact with chinese business people is
11:31 am
having contact with the chinese communist party. do you see what i mean? >> this is true, but it's interesting that it was all underwritten by huawei, and part of the partnership was the san francisco chamber of commerce. of course, we found such direct ties between vincent lowe, a business tycoon in shanghai and in china, all of china, and he was actually partnering, was part of the leadership of this organization. they brought in more than 100 chinese companies into california. they were dumping one of the companies was suntech. they were dumping goods on to chief goods subsidized by chinese government on to the american market and the california market and they were undercutting things like solindra. we make a joke that it went bust, because it was a solar company, subsidized by the obama
11:32 am
administration to the tune of $500,000 but guess what? solindra ended up suing sun tech the chinese company that gavin newsom personally brought into the state because they were undercutting their market and affecting them personally. in fact, that particular company, sun tech actually ended up going bust. it was on the new york stock exchange and it ended up having american shareholders holding the bag because it had bogus loans in italy. stuart: so your premise is that it was gavin newsom back in the day who opened up the highway for china to march down it and bring in chinese communist party affiliated companies. that's your thesis, correct? in a nutshell. >> absolutely. yeah, he opened the golden gates to the chinese companies. the reverse did not occur. the american and california companies did not enter china and interestingly enough we did find out that as he was doing
11:33 am
this , gavin newsom trademarked two of his wines to get into china, and then he was found, we found evidence that he was at a restaurant owned by vincent lowe, the same person i talked about earlier, the business tycoon with deep ties to ccp officials and pouring his own wine and having tastings there so what do you think the incentive really is? stuart: we'll take your point. >> why was gavin newsom doing this and did he personally profit from it? stuart: i take your point and interesting book and interesting thesis. susan thanks very much for joining us we appreciate it. thank you very much. >> it's my pleasure. thanks for having me. stuart: now this. president trump responding to the violence at tesla dealerships. madison what's he saying? >> he's saying he's vowing to classify attacks on tesla dealerships as domestic terrorism and he's promising to put them "through hell." this is in major support of musk. take a listen. >> mr. president you talked about some of the violence going
11:34 am
on around the country at dealerships. some say they should be labeled domestic terrorists. >> i will do that. when you hurt an american company, especially a company like this who supplies so many jobs that others are unable to do, when you do that, those people are going to go through a big problem when we catch them and we have a lot of cameras up. we already know who some of them are. we'll catch them and they are bad guys. let me tell you. you do it to tesla and you do it to any company, we're going to catch you and you'll go through hell. >> there you have it. when he makes threats he usually makes good on them so there's more on this story but i want to bring it up. we talked earlier, the reason you see him with the tesla behind him is because trump was in the middle of shopping for his new car. he bought a tesla right off the white house driveway, a shiny red sedan, in a sign of support for musk and very impressed with the car he selected but he can't drive it himself while he's still in
11:35 am
the oval office, so he's going to loan it out to his friends. stuart: the president cannot drive himself. >> he's supposed to and for security purposes he's not able to drive that car. stuart: who knew that. madison thanks a lot. mark? tell me the story. what happened to you, just the other day, when you bought a tesla? >> i ordered it probably like two or three weeks ago when i heard there were these tesla boycotts for my daughters. i have two teenage daughters of driving age and it was supposed to be delivered to me this past saturday at 1:00 p.m. at 10 a.m. tesla starts calling my phone and i'm like what the hecks going on? i answer the phone and they said sir, your car has been vandalized and we can't give it to you today we'll have to order a new one so it was vandalized right on the lot, front end was all banged up and scratched up so obviously i have a very personal experience here. i would think at a bear minimum if it's not domestic terrorism it's at least a hate crime. stuart: yes.
11:36 am
>> which would carry harsher penalties. stuart: catch the people that did it and throw the book at them. coming up dave portnoy claims he was offered a role in the trump administration. >> i got the call. it was like hey, would you have any interest, dave, in joining the department of commerce as commerce secretary under lutnick. stuart: well, we had commerce secretary lutnick on the show earlier today. we asked him what he wanted portnoy to do at the commerce department. we'll tell you lutnick's response in just a moment. right now the nation's biggest tech festival underway in austin, texas. liz claman is there taking a look at some of the top tech products hitting the market. that is next. ♪
11:37 am
there are many ways to do things. at old dominion freight line, we do them this way. this way has people who start early. people who care and inspire each other to do things the way they should be done. this way uses technology (♪) and goes the extra mile (♪) to deliver your promises on-time, every time. this way is why we're the number one national ltl carrier for quality. for us, this way is the right way which is why it's the only way we go. (♪) i don't play for money. before my mom passed, she told me to play big—
11:38 am
play for something bigger than myself. now, my ambition is to play so i can help and inspire others. that's why i joined sofi. they help people save, spend, earn, borrow, and invest toward financial independence. so they can realize their ambitions. no matter what they're playing for. sofi. get your money right. known for creating memories. no one wants to be known for cancer, but a treatment can be. keytruda is known to treat cancer. fda-approved for 18 types of cancer, including certain early-stage and advanced cancers. one of those cancers is a kind of bladder and urinary tract cancer called advanced urothelial cancer. keytruda may be used with the medicine enfortumab vedotin in adults when your bladder or urinary tract cancer has spread or cannot be removed by surgery. keytruda can cause your immune system to attack healthy parts of your body during or after treatment. this may be severe and lead to death. see your doctor right away if you have cough,
11:39 am
shortness of breath, chest pain, diarrhea, severe stomach pain, nausea, or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst, or urine, confusion, memory problems, persistent or severe muscle pain or weakness, muscle cramps, fever, rash, itching, or flushing. there may be other side effects. tell your doctor about all medical conditions, including immune or nervous system problems, such as crohn's, ulcerative colitis, lupus, or myasthenia gravis or guillain-barré syndrome, an organ, tissue, or stem cell transplant, or received chest radiation. keytruda can harm your unborn baby. keytruda is an immunotherapy and is also being studied in hundreds of clinical trials exploring ways to treat even more types of cancer. it's tru. keytruda. see all the types of cancer keytruda is known for at keytruda.com, and ask your doctor if keytruda could be right for you.
11:41 am
they will wait until april 2 before responding to the new u.s. tariffs on aluminum and steel. she says, mexico will wait and see whether to apply reciprocal tariffs. canada's retaliatory tariffs start tomorrow. coming up, "the big money show", look whose here. co-host dagen mcdowell. tell us what's on your show, dagen? dagen: mr. "varney", inflation cooleth, and the panic peddlers, the professionals in the media and politics are quite disappointed, what does larry kudlow sayeth about these fabulous numbers for all of america? you have to tune into "the big money show" starting at the top of the hour. stuart: i shall and you can give larry my best wishes, please. dagen: i certainly will, sir. stuart: the nations biggest tech festival is south by southwest underway in austin, texas, and liz claman is there. you're surrounded by the latest
11:42 am
groundbreaking tech and it's the rivian r-1s. what can you show us? liz: oh, yes. i can show it to you, all 350,000 people are expected to come to south by southwest here in austin, texas, but it mesas well be called rivian by southwest. stuart i go to a lot of these events and their sponsors and you see their names. rivian is literally everywhere. this is the ev, the brand new r-1s, second generation for this car. it comes in a dual, a tri, and a quad motor. this is really sort of the signature look for what we see here. its got a seven-seater option here. come on in i want to show you one thing you'll like, stuart. everybody is coming into look at these things. look at the floorboard. look at the floor mats here. we've got it at the moment, plaid, stuart. plaid. you have to understand when you look at these things, goes 0-60 in 2.6 seconds and it has just
11:43 am
got about a range of more than 400 miles, so it's expensive. 75, 900 for the start and if you go to the quad motorist more like i think about $10 5,000 so that said we had an opportunity to talk to jeff hamut, the chief officer of design at rivian, and he said with this shape shifting tariff war, that you have been reporting on all morning long, stuart, what may be rivian's secret weapon is the location of where these things are made. listen. >> rivian is very focused at bringing manufacturing jobs to the united states, so all of our vehicles are designed and built in america, so we've got our plant in normal, illinois and we're also building a second one in atlanta, georgia as well so we're focused on thinking about long time future not just about what's happening today but five, 10, 15 years from now. liz: let me just say this , stewart. a lot of steel and aluminum in this car. this is all steel.
11:44 am
okay? so, we're not exactly sure, nor i think is rivian, because we still don't know how long the tariffs will be in effect. obviously, this has been a constant tit-for-tat situation when it comes to the aluminum and the steel tariffs. say though that rivian is forging ahead. they have such a presence here, they have four different areas all throughout austin, including something called the electric joyride. this is an obstacle course. i think weave got video of it. anybody can go here and get in the passenger seat and take a ride on an obstacle course that rivian, the number three luxury electric suv named by u.s. news and world report, that can get in there and really try it out but we shall see. it's a competitive market and this is not a cheap car. back to you, stuart. stuart: i think you should go joyriding in a rivian, liz, you know? you do well i'm sure. i want the video. liz claman, you're all right thanks for joining us. liz: come along. stuart: next case, the nebraska
11:45 am
legislator has approved a bill to classify some gig economy workers as independent contractors. madison? this is just one state. nebraska. but he's got huge implications. it followed elsewhere, gig workers no longer classified as employees. >> right so there's been a long debate with this. uber has been fighting this , because the drivers want to be classified as employees because they be able to get certain rights like worker comp or healthcare, et cetera, and so you've seen this push and pull but now nebraska making this move that essentially gives the workers less power because as you mentioned now they are considered independent contractors and under the nebraska law, we're talking about drivers like uber, some delivery workers that are all under this category. if this goes elsewhere, we see more power in the hands of the uber. of the lift of the world and less power in these gig workers because they aren't employees. they are independent contractors. stuart: i'm not sure i agree with you on that. >> explain.
11:46 am
stuart: well okay if i have to. if you are a gig worker, you choose your own hours. >> correct. stuart: you're an independent contractor. that opens up the market to all kinds of people. retired people, perhaps. students, perhaps. this closes it off. you keep them as gig workers. you keep them as employees, that closes off that opportunity to a lot of people. am i right or wrong? >> if i were a gig worker, i would want to be a 1099 independent contractor. i could then deduct all of my expenses from my income. i would qualify for trump's 20% pass-through deduction, if i setup an llc. you just have to be smart. if you don't do your homework, it can be disadvantageous. >> how many drivers are setting up an llc, but go ahead. stuart: show me the dow 30, please. hate losing arguments. the dow 30, more sellers than buyers, and the dow is down 177.
11:47 am
next, new york city's mayor adams, he's protecting his piece by ignoring the news. >> four weeks ago i stopped reading papers. i stopped listening to the news. i sleep so much better. stuart: you know, that's quite an admission from an elected leader who is in the news himself. isn't it? that's next. ♪ if you're like most americans, the concern about not having enough money to retire the way you want to. or worse yet, running low on money during your retirement is a genuine concern. safe money iq is dedicated to helping you retire forever. and best yet, we don't charge a fee to show you how to get there. go to safe money iq.com. if you're interested in retiring forever, safemoneyiq.com. your path to retiring forever.
11:48 am
11:49 am
hi, i'm jason. i've lost 228 pounds on golo. ♪ changing your habits is the only way that gets you to lose the weight. and golo is the plan that's going to help you do that. just take the first step, go to golo.com. ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected.
11:50 am
you think those phone guys will ever figure out how to keep 5g home internet from slowing down during peak hours? their customers have to share a wireless signal with everyone in their area. oooh. you know, it's kinda like when you bring a really big cake for your birthday, and then there's only a little, tiny sliver left for the birthday girl. aw. well, wish her a happy birthday. happy birthday... -it's... ...to her. -no, it's me. have your cake and eat it, too.
11:51 am
don't settle for t-mobile or verizon 5g home internet. get super fast xfinity internet you don't have to share. forty's going to be my year. stuart: it was back in february that barstool sports founder dave portnoy told me, he had been offered a job at the commerce department. madison? do we know why he didn't take the job offer? >> we do. in order to take the job, he had to step back from barstool sports. he couldn't lead the company any longer. he wasn't willing to do that, and he told this news to you first so let's take a listen to what he had to say back in february. >> listen. this is, i've never said this. i got asked to be, and i didn't fall through the secretary of commerce for trump's department. they said not to work under. they asked me that and they said a condition is i can't run barstool sports. do you have somebody who could
11:52 am
run it and i don't know if it was serious if i said yes but if you're running a company, it's tough to also run the government. >> y yeah, so he said i'm not sure if they were serious but it seems like they were because you brought the question to secretary lutnick to see if we would get more information about what was the vision for portnoy's role so here is what he had to say in response to your question. >> we're noing to talk about what he wants to do but can you imagine if we can get these great people to work for the government? how fantastic would that be? >> so i mean -- stuart: good response. >> this is really the mentality of this administration because you might think like what is dave portnoy going to do under commerce but their idea is get smart, successful people, into the administration and let them improve the government. so i guess they thought portnoy could be a part of that vision, but he's still at bar stool. stuart: yes he is. the philadelphia eagles will visit the white house in april to celebrate their super bowl victory. now, this is a turnaround from
11:53 am
2018 when then-president trump disinvited them after their national anthem protest. here is what karoline leavitt had to say about the latest visit. >> april 28, i can confirm that the philadelphia eagles will be here at the white house to celebrate their super bowl victory. i know there was a lot of fake news about an invitation that wasn't sent or was sent. we want to correct the record. we sent an invitation and they enthusiastically accepted and you will see them here on april 28. stuart: we'll be watching, tomi lahren joaning us now. it's time to put politics aside isn't it? >> yes, stuart, it seems like every major american sport from baseball to hockey, racing, and now even the nfl, have embraced just being pro-american. listen, just go to the white house. it doesn't matter who the president is. embrace the opportunity. bring people together. the only major american sport that has yet to drop all of the woke trump derangement bs seems to be
11:54 am
the nba but if you look at tar viewership and ratings, it's kind of reflecting that. i think that people are ready to just watch sports again, root for their team, root for america, have a little bit of civility. we'll always have politics in sports now. i guess it's a new thing but we can have a more balanced approach. this is a great start. stuart: listen to what new york's mayor eric adams had to say about ignoring the news. watch. >> four weeks ago, i stopped reading papers. i stopped listening to the news. people are stopping on the street and saying, you know, i'm sorry what happened to you. i said what happened to me? [laughter] i said something happening? you know, that i don't know about? i sleep so much better. i just feel so much at ease. it's like almost, if you eat junk food every day, you're going to get physical obesity. i was going through mental obesity. stuart: he's not the only one former white house press secretary karine jean-pierre is also ignoring the news.
11:55 am
watch. >> i've not watched the news. i have really tried to focus on self-care. stuart: i can understand this if you're getting pounded in the news, ignore it. i do understand this , don't you? >> i do understand it. it's okay to take a detox from news. i'm not so sure if you're the mayor of one of america's largest and greatest cities that that's really an option for you. i wish that mayor adams would differentiate, i'm not reading press about myself, but i am staying up-to-date on the news of the day. i think that's an important distinction. as for karine jean-pierre, i really don't believe her. the democrat party is in disarray and a clown show and a circus. they seem to bring the worst of the worst of the democrat party on all the mainstream networks as well as cable news, jasmine crockett seems to be the leader of that party so i don't blame them. the democrat party is not something i would want to watch on television right now either if i were still a democrat. stuart: yeah, you've got to keep your blood pressure down. tomi lahren thanks for joining
11:56 am
us. see you again real soon. it's that time, sports fans, where we give you, present to you the trivia question. which was the first city, first to hold a st. patrick's day parade in ireland? waterford, dublin, galway, limerich, the answer after this. .. i'm thinking of updating my kitchen... ...thinking of redoing our kitchen. ...we are finally updating our kitchen. for all those people who never seem to get around to it... —...a breakfast nook. —chase has financial guidance. let's see how you can start saving... —really? —really? at home or in-person. that's guidance from chase. ok guys, instead of getting weathertech, i saved a few bucks and got some cheap, foreign made floor mats. but they really stink, so put these on. ♪ really, gary? mom, i'm thirsty. don't settle for cheap, stinky floor mats.
11:57 am
12:00 pm
stuart: this is a question you could look up in good conscience because who knows, which city was first to hold the st. patrick's day parade in ireland? galway, limerick, madison, you are first. >> if i get this right, i did not look it up. if i get it right it is pure luck and an irish god smiling down on me. i will go with galway. mark:it's a good limerick. stuart: i'm going with galway because it's in western ireland. wait a minute. i tried. by the way, the first was in 1903 in waterford. now you know. you're educated watching this program, "the big money show" starts now
0 Views
IN COLLECTIONS
FOX BusinessUploaded by TV Archive on
