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tv   Cavuto on Business  FOX News  October 16, 2010 10:30am-11:00am EDT

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one copper miner in the world, sdx. freeport mcmoran. a feel good story. and prices hitting records. >> you are the clinest miners. and-- >> the glasses are so you. >> brenda: for more on business, neil is next. >> neil: man, look at this, talk about an unhappy meal. now, it started, it started with a singleburger, with mcdonald's telling the government it wanted out of the new health care look, all of a sudden, a few more companies wanted in on that order and a few more and more and of the 144 requests saying you know what, hold the health care, forget where is the beef, my friends. i think these guys are saying, stop the bull. glad to have you, i'm neil cavuto and food for thought. and on top of the health care revolt and it ain't just mickey d's, you and me, a poll
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says 75% of voters think that companies will indeed drop coverage because of the new health care laws. so, going from bad to worse? charles payne, dagen mcdowell, adam lashinsky, look who is back. what do you think? >> well, you know, neil, this is just a mess. you know, i have a little anecdote that describes the mess. we used to worry about people stealing our i.t. people, and engineers. >> and companies are losing people, losing lawyers and people are dying to get talent that can deal with this health care morras. >> where are they going? >> they're going-- a health care person in a company i was involved with. making $145,000 a year offered $300,000 to go to another company and that's what used to happen with software engineers and now it's
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happening to benefits people for the complexities of this morras of health care. i mean, it's wild. >> neil: what is interesting, when you have mcdonald's saying, charles, look, this is hurting us. and this burger analogy, these burgers are not to be shared. >> i'd rather have the ones that-- >> and the meal this morning, do you >> they really, yes, you've got more piling on and more and more and more. they all say if you keep doing this, we're out. >> i'm fine with what jack says to be incredible not just the money amount, but who knows what's going on. maybe the great creskin, who can tell you what's in these packages to be able to define them? all we know so far is that there are loophole after loophole after loophole and the number keeps going up 0 and up and up. no way anyone should have confident about that. that poll was probably small, should have been 79% or 97%.
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>> good luck, going to the website to find out how many companies are seeking like a potential mcdonald's, exemption. >> and it's a temporary exemption, a year or two. >> neil: exactly, what i'm saying is these burgers just represent had an of of it. and dagen, i think more food for thought for folks, is the numbers mask how much of a beef these guys have, right. >> they absolutely do. speaking of beef, since you stuck me in the basement, i have been a ham burglar and took one of your hamburgers, so, your accounting is a little off. >> neil: no, we wanted to put the skiniest person far from the food. >> thank you very much. i think the liberals and the democrats and the white house, the democrats in congress always make the argument that, oh, well, this health care law is going to be implemented in the years to come. we don't really no private business owners and operators
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know what the impact is going to be. price waterhouse coopers did a survey of private company executives and nearly half of them said this will hurt them financially. that is what they do know. right here, right now. >> neil: adam, have you weighing in on this and i know you're on alfalfa sprouts. here is my theory on this. i think, adam, this is a preview of coming attractions. a lot of companies like mcdonald's are going to weigh whether they get a benefit, a temporary pass or what. you know, it isn't worth, we'll take the bite, pay the penalties and shift it to the government and enhances jack welch's argument, the people who are benefits experts and demand and hop, skip over to the government because they'll be needed there as well. >> neil, i was all set to disagree with the entire premise of everything we're talking about here until you brought up one of my favorite expressions of yours, crack pot theory because every time you have one of these crack pot theories, i think you're
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exactly right and the fact-- >> and recent that particular theory. go ahead. >> and what you're right about is that these companies are going to comply. the legislation is going to kick in. and the details here matter. jack tried to point out a moment ago, you don't want to let your former boss speak. what they're getting here are wavers for a year or two and the issue here is that the-- >> a year or two. a year or two. >> well, well, one for starters, but it may take two because that's when these exchanges kick in. they're part of the legislation where, if employers and employees will have a choice, either they get their insurance from the exchanges or from the employer, but they're going to have to get it. >> neil: adam, i love you dearly, but you're missing the point. what made mcdonald's the first to say this, this isn't adding up. the formula that the government uses for workers who pay on policies versus the numbers that get benefits. they change that math
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dramatically or mcdonald's says it isn't worth it, the same reason that 3m used to pull the plug on health care for all retirees. what i see is the tea party-- i mean, there's-- >> they're saying it doesn't add up now, it doesn't mean it's not going to add up in the future. >> neil: unless the government makes these changes permanent. that's all i'm saying, go ahead, jack. >> no, i mean, we-- no one knows the outcome of this thing, it's in the hands of an an army of bureaucrats. there are couple thousand pages of stuff and we don't to what's coming out and witness more uncertainty you're going to get more trouble. and it wouldn't impact just the health plan, that's up in the air now. most people think it will impact what they have, don't worry it won't impact your current health care plan, well, it's going to. >> neil: and charles, i think the more surprises like this, mcdonald's, 3m. these guys, taking a charge,
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honeywell-- and then people start saying, wait a minute, i'm not going to open my wallet. individual and corporations. what is going to incentivize you to do stuff. >> we already know that people are cowering, it's not just banks and businesses being at fault. it's even individuals and individuals are seeing sitting on a lot of money in the country. the notion that you're going to deep your doctor, most chucked that idea. adam brought up we're going to be pushed and incentivized to go to the pools. and 3m, why not people pay someone 5 grand to get into a pool and let the government take the rest of the weight and things to come. like the corporations that every quarter have nonreport rush reports have a problem. >> this is potentially a road to what many americans did not want and that is health care and health snrns in the hands of the government pure and
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simple and neil, you're already starting to see chart-- you're already starting to see major changes, whether it's premium hikes and health and human services. >> neil: they could be using it as an excuse to stick it to people. >> and the health and human services, you can charge more for six kids. they're worried what's happening in terms of health care and health insurance this this country. >> neil: all right, adam. >> we're forgetting first principles. there's a reason why wal-mart a your favorite company, and many other businesses supported this legislation in the first place, because their health care costs as companies were running out of control. there is an opportunity for them to-- >> well, you may be right we don't see it yet. what's changed the health care on the big guys, i think it's moved from being about business to being personal. so it is personal and no one
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factored that in. i want you to take a look at this. >> oh, my god, peter, are you all right? >> ♪ ooh mou mou . >> brenda:. and the new cost of freeman website and first look at the day and lots of fun stuff going on. 50%-- love that anyway, saying that the lawmakers, no matter who wins in the mid terms will end up spending who are and more money, more of your money. go online and vote, which, who do you blame for the recent spike in the health care rates. the health insurance law or the health care companies. and up next, imus, cavuto, wal-mart, union. >> have you actually been inside of wal-mart. no you haven't. >> of course i have. >> no, you haven't.
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>> hi everyone, live to america's news headquarters, i'm jamie colby. new neighbor strikes in france today are setting off fears of a massive fuel shortage. the fifth straight day, strikes in france over president sarkozy's plan to raise the retirement age to 62 and the strikes were holding
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up diesel and jet fuel deliveries. charles de gaulle airport could run out of fuel in just days. and big names turning out for big races in california. former president clinton will be campaigning for jerry brown and democratic attorney general and former governor in a tight race with the republican challenger meg whitman and sarah palin also campaigning in the golden state in a few hours headlines a victory 2010 fund raising rally in anaheim. we'll have full coverage of all the races around the country, it begins with chris wallace anchoring, america's election headquarters at 12 noon eastern today. i'll see you at 1 p.m. eastern, i'm jamie colby. >> the town was boarded up. you know why it's boarded up. >> why. >> because there was an egg-sucking wal-mart on the highway and closed every mom and pop story. to hell with wal-mart, i hate wal-mart. they can go to hell. they can go to hell. >> all right.
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wal-mart, getting the i-man all fired up and the i-man getting me fired up and live from my office and to set him straight on fbn and only on fbn. >> and all of a sudden you find wal-mart which you don't know from a-- >> of course i do i've been in the wal-mart in new mexico, 50 times. >> when you've been there have you seen any of employees chained to the shelves, chained to the-- >> yes. >> really? >> of course not. >> because you lie. you by the great lie that wal-mart is the personification. >> they have a bunch of stuff made in china. they ruined the town of winslow, arizona. >> i'd like them to ruin you, and put you on a shelf there and have a quick special and no one would buy you, you know why? because you're wrong! it went pretty well.
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anyway, appears that don is not alone that unions are on the attack and wal-mart announces a plan to build a smaller stores in the big cities. a and conducting this small store campaign by the thousands, no trouble. why wal-mart. >> i hate to go against don imus, he's helped me sell a lot of book. >> by the way he's evil gaedz. >> you're so wrong, wal-mart, three reasons why wal-mart is an absolute winning company for america and we should be thrilled about. >> one, it survived value products, across the sector and across the product lines and people low income, middle income, wherever you are get real value. inflation biters and give them real value. and secondly, wal-mart careers, people go through ivy league schools and get the mba's and wal-mart takes people with high school agrees in many cases and degrees from
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different schools and they're growing the pond and creating jobs and getting global assignments, people never thought, in wal-mart. they're job creators. as suppliers in wal-mart, they make you really shop. you better be good, you better provide great products, better provide great prices and you better get them where they want them when they want them and they are tough on you, but they sharpen you for global competition, this is a great company. >> and provide $4 prescription drugs. and here is-- crack pot theory, they were to go union tomorrow, all the problems would disagree. >> they would disagree, but you know to jack's point. i don't think the people who work there want to go union. i really don't. this is a great setup. and imus talked about, the town becoming boarded up after wal-mart got there. i've seen the exact opposite. i've seen boarded up towns come to life after wal-mart
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has gotten into the vicinity, 3000 people line up for 300 jobs, hope where desolation and despair, so i've got to tell you, the average person in america can have things, i was growing up, you know, we couldn't, you know, a big screen tv or the equivalent there of, you couldn't dream about having that and now people in the projects have that and people in low income areas, and living the life. >> a shot at that-- i can get-- >> it is. >> the ma and pa charged you a dollar extra and they joined the country club. and you got screwed when you were buying product there. this is the worst argument in the world. mom and pa didn't provide value except for themselves. >> all right. dagen, what do you think. >> well, i think i can speak to wal-mart better than well all of you fellas, my parents ran a business that couldn't compete with wal-mart. are they bitter, are we bitter as a family, absolutely not because wal-mart improved the quality of life where i grew
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up. people had jobs. 80% of wal-mart associates now are eligible for health insurance and it's better than that what is available to people working at other retailers. the unions only care about one thing, and that is union jobs. they don't care about you, me, my family, they don't care about job creation. they want union dues and that is it and target has a target on its back and they better watch out. >> adam. >> well for what it's worth, i don't think that wal-mart's problems would go away if they went union tomorrow. >> oh, yes they would. >> it not about unions, it's about ruining the town in arizona. i think the unions, i don't fault them for fighting this deal, but they're on the wrong side of history here. by the way, wal-mart picked a fight with them a long time ago and won. it's pretty much over. >> neil: we'll see about that. the more you whack the more they make. the white house on commerce, maybe the president should try talking to them not whacking them. i wonder if he knows they're
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. >> brenda: it's like fighting with your next-door neighbor and never talking to your next-door neighbor,
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>> you're the man that represents the chamber, that represents the life blood of most of the folks who work in this country. and you're not there. you see that? i'm talking to a man in the chamber of commerce, from the roof of the chamber of commerce with a prime view of the white house, that's across the street from the chamber of
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commerce, why not take a walk across the street and just talk it out, jack? see they're close there. >> look, these guys in the administration today don't know how to have a dialog. it's tom donahue this week and the insurance company, karl rove, it's always something, i've never seen anything like this. i mean, this is just, somebody just disagrees, they're a bad person, they're evil, go after them. it's just wrong. in my career i've never seen anything like it. >> neil: and sometimes the ceo's to join the team. >> yeah, and not that i think they really wholeheartedly were looking for ceo's, but they figured maybe we can find someone who is-- that would help us out for some ledge get maget-- it's a profit holder,
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shareholder, no matter who you are, there's been a fear of capitalism, you're something bad. why go after just them, go after the symbol of it all. chamber of commerce and they've gone after them with the crazyiest sort of allegations and-- >> and even the new york times had to say, all right. but dagen, the fact of the matter is, that they're across the street from each other. now, i expect organizations to be petty and even sometimes news anchors, but not of either party. i don't expect them to act like me. i have a high standard and a very low standard and when i don't see them walk across the street and say, look, we've got to break bread and talk here, that worries me. that worries me. >> it worries you, but you know what, even if, if i was the chamber of commerce and somebody had been ripping on me the way that businesses gotten ripped on by the white house, i don't even care if you were blood relations, i'd borre bar the door and hole up
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in the basement. >> neil: no, you wouldn't. if the president of the united states knocked on the door you'd open it. >> by the way this has been a boom in fund raising for the chamber of commerce. >> neil: you're right. adam, where does it go? i feel such a chill, i don't see it warming up soon. >> there's only way to go, that's up. relations are so bad and of course we should be talking to each other. >> neil: and whenever they said you can't get any worse, guess what, it got worse. >> i think it will get better between them and needs to. >> neil: what do you think, jack, do you think there's going to be a steady pattern. >> with the republican change in the house, we get obama 2.0 and might be more conciliatory for the country and that's what i'm hoping for. >> guys, i want to thank you all, david asman, fox coming up and a crazy show today. what have you got. >> forget about national health care, how about
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national housing, steve forbes says it's already on the way and something the treasury department has been hiding from taxpayers proves it, you won't want to miss this. give us more money or we'll let prisoners out early, the scare tax particular tctics tha using using for taxpayers. calm down. i know that it is not your job. what i'm saying... excuse me? alright, fine. no, you don't have to do it. ok? [ male announcer ] notre dame knows it's better for xerox to control its printing costs. so they can focus on winning on and off the field. [ manager ] are you sure i can't talk -- ok, no, i get it. [ male announcer ] with xerox, you're ready for real business. is a powerful force. set it in motion... and it goes out into the world like fuel for the economy.
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