like burger king? like regeneron because the drug that will be out this weekend, you don't -- burger king and anticholesterol drugs, match made in heaven. >> i thought the same thing. >> why do you think like this? why do you think the drugs do well? so many people eat junk food. so many people, junk food. >> how is pepsi doing today? >> an article saying there's pressure. should be pressure on coca-cola. pepsico is a winner because i think they actually have product that numbers are better. why is coke not feeling the heat. >> making investments as of late, right? monster? >> i said what when they did the deal, people would downgrade it, think it's over like green mountain. look at green mountain, everything green mountain does right since the ceo came in, okay? everything. everything. >> people were saying the gentleman previously running the place was not doing anything. went from nothing to everything. >> i think he's getting good time with the family. good time with family is important. i want to

pay 8, $9 to -- stuart: how much is burger at five guys. >> burger an fries, 11 or $12.xactly same thing -- not the same. stuart: burger and fries, at mcdonald's for four. excuse me. you pay triple the price. >> we watch them grill the burger. stuart: how much are we paying for you. >> burger and fries for drink ad mcdonald's will be 8 or $9. it is not that cheap. two extra doll you get a better deal. >> does mcdonald's burger taste good? it doesn't. stuart: it faces. >> for 3 or $4 the burger patty is thicker. i don't know what a mcdonald's burger patty. stuart: mcdonald's burger is quick and cheap and available on demand. >> probably give you cancer. stuart: get, can't say that -- got no proof of that. >> i don't have proof but i don't know what is in it. all studies, put a burger out for a year, doesn't mold or change, what is that? you don't have an answer for that either. stuart: you put a burger out, a mcdonald's put it out -- >> it doesn't mold or change. stuart: are you kidding me? >> no. stuart: it does. >> you know what, let's dot varney company experiment. we'

burger king always said have it your way.way is to support two ohio company that's haven't abandoned their country or customers. >> burger king is setting the table to make a bunch of money in our country and yet avoid paying taxes. well, it looks like public pressure and that kind of talk got to burger king because the company released a statement today saying, wait a minute. we're not moving, we're just growing. our headquarters will remain in miami. the decision to create a new global quick service restaurant leader with tim horton's is not tax driven. it's about global growth for both brands. burger king will continue to pay the federal state and local taxes and whopper, the whopper isn't going anywhere. that's good to know. for them to come out and say it's not tax driven, got a pretty good communications director in that outfit. that's a hard sell. it caused confusion on wall street. cnbc speculated only separational headquarters would stay in florida? >> part of this deal is to move the actual headquarters to ontario f

the burger king brand stays in miami. the company that owns burger king is based in canada.y congress will cool its criticism anytime soon. one analyst says democrats are finding this a useful issue for the midterm elections. >> this potentially is a campaign issue for the democrats because burger king is such a visible company. and i think they will hammer away in the senate. they will try to get legislation. but at end. day very unlikely this congress will do anything this year. so it is up to treasury. i think there is a good chance treasury will do something. >> even if treasury does something, regulation discouraging or penalizing tax inversions could take months to finalize that rule and even longer to litigate. back to you. adam: rich, got to ask you a quick question, honestly, mcdonald's fries or burger king fries, which do you prefer? >> go with standard mcdonald's fries, you got one of the two, go with mcdonald's. adam: ginger, mary ann. thinking mcdonald's fries. dierdre: rich is a runner. >> fries, milk shakes, bring it on. adam: rich edson, thank you. dierdre: w

one burger chain accused burger king from abandoning the u.s. working an immediate fix oforce flood of these dangerous inversions and a long term solution that lowers corporate tax rates. but some companies have found that tamer taxes abroad aren't worth the bad publicity stateside. as for burger king and tim horton's they are not planning to comment further until a deal is reached or rejected. >>> white house says it's looking for ways to convince american companies to stay but how is something congress so far has not agreed on john. >> all right, jonathan betz, jonathan, thank you. >>> financial analysis chitra norvad joins us. what are the benefits for burger king? >> outside of tax aversion? tax aversion is one. but burger king is going to compete in some areas where tim horton's is strong. that's breakfast. burger king is in a quit services industry in america and canada, that's where horton's is strong. the second is coffee, tim horton's very strong in coffee, it's the leader in canada. very well-known in the united states. burger king not

buildings on the east side of ashbury street with the comparison on the west side of the ashbury burger are 2 stories over street level and this disreceptors the height the developer asserts this is a reasonable project and similar to a project member we're believing those awe surges >> thank you. sir, your time is up. >> thank you. next speaker, please. >> thank you, commissioners to hear this case i go on ashbury burger street across the street i asked the planning department the developer was deelizabeth dishonest in july of 2013 can i have the projector please. great the zoning administrator sent this e-mail that gave a clear warn at day developer may have this argument as destined in the planning code the trshgs between ashbury and downey whaunt exceed one hundred and 35 degrees and is not a corner lot then it will be required to be a corner lot the developer provided the sketches that per port authority said said it was less than one hundred and 35 and thus claiming that was a corner lot, however, in may of this year, the planner for the project revealed in this project the angle

there's good reason for burger king and horton's to combine. it's good examples of business synergies, but there is a structure formulated for tax considerations. it's both. >> what is the benefit? if it was a tax benefit, why a company headquartered in the united states for all of its history choose not to be? >> well, remember that tim horton's was owned for a long time by wendy's. it's clear to see there's advantages to a company whose primary focus in the market is breakfast, with a company whose focus is on lunch and dinner. burger copying has had gaps in its breakfast preparation to the market. so tim horton's office a good business sip ergey with -- synergy with burger king. >> let's talk about the idea that studies say the u.s. stands to lose a lot of tax revenue, if the idea of inversions accelerates. others say it will accelerate unless the u.s. changes tax laws. what are the laws in question that need to be changed in order to stop companies from taking advantage of that part of things. >> well first, let me talk about the way we are

today's big deal edward harris and i are discussing the fast food mega merger between the king of burgers and the canadian don't it captain mr tim horton it all starts right now. there is a lot of the world central bankers taking place in the mountains of wyoming right now yes the jackson hole symposium brings together the most influential monetary policy makers on the planet and last week local central bankers led by federal reserve chair janet yellen said that labor market still have further to heal before their economies can weather higher interest rates official meetings over the weekend in jackson hole placed jobs at the center of discussions saying that stronger hiring and wages are still needed to drive demand making her debut as fed chief at the annual conference yellen said that while u.s. hiring has improved the debate the fed is shifting towards when to dial back our extraordinary accommodation as there is still a significant under use of the workforce and that the labor markets have yet to fully recover from the worst recession since the great depression. then the focus on job

my name is scott smith i live on ashbury burger across the street in the proposal it's too high into the weeds for the teeny lot we object to the bulk and size from the san francisco design i see policy 101 recks and protects views in the city where the particular waters and system contribute to the measure of the city and the lives of the retains it should be given protection with special attendance with the small business and water that reflects the natural setting to the city. as stated in the guidelines private views are not protected, however, private views are and that is the backdrop in the ashbury burger city street i obtain to the sweeping views from the san francisco golden gate? the same lot and it's removal will adversely affect the quality of life and also in the san francisco urban design elements i see policy one dot two reinforce the existing view the streets are stable and >> unified component and the changing of the system will alter the pattern. such changes should not counteract the recidivism the street with regards to typography it will not keep with the neighbo

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burger king denies that this deal is about denying uncle sam it's due. it says he's merging with tim horton because it's opening new business vistas for the company. still inversions let companies transfer money that is made outside of the united states to the parent company without paying additional u.s. taxes on income that is generated abroad. that is very important for a company like burger king that plans to expand it's business overseas. now, burger king will be able to use the extra money to purchase new assets or pay out stock dividends so it's hai shareholders, that's why investors like inverts. like it or not america is going to see more companies like burger king who choose to ditch uncle sam, and we companies we consider quintessential american are already anything but. at least 75 large u.s. corporations have moved their address abroad. some of those companies have my profile names. many have moved to places bike bermuda and cayman islands where there is no corporate income tax. one example is th the consulting service price water house . an

now burger king wants to drop its u.s. passport and become a free healthcare loving canadian so this is one of these tax inversion deals where by there are no longer have to pay or be subject to the u.s. tax which is forty percent the canadian tax twenty six point five percent yeah this is really a big story in the financial press warren buffett financing this burger king takeover of jim morton's a canadian going to change to avoid u.s. taxes and i mean we thought back to the one nine hundred sixty s. where you had a lot of young men living in. we're going to go to canada to avoid fighting in the vietnam war here in the twenty fourteen area we have people who want to avoid paying for those wars because half of america tax goes to the pentagon goes to the defense budget to start these wars of convenience to continue the american empire around the world but warren buffett of course doesn't want to have to pay for those wars so he's fleeing to canada so these are financial. cowards let's talk about this more specifically we'r

i see the batchagaloop burger. >> it's made with a brooklyn burger-- >> so they have a burger in herenot called the brooklyn burger? that's a problem, right? the sports contracts that we have don't justify any sort of investment. i've made the decision to terminate all of the sports contracts, and save over $400,000 a year. we're gonna focus on selling these burgers in grocery stores around the country. look, i'm as enamored as you are by the glitz and the glam and the logos and all the fun stuff that goes with it. but at the end of the day, it's a business decision, right? >> correct. >> so it just doesn't-- although nice, the economics just don't work. >> and who gave you the p.o.? okay, let me check with frank and i'll get back to you. okay, bye. frank? >> yeah? >> you're still giving your own purchase order. you're approving your own purchase, and giving your own purchase order. >> right. >> for instance, this day, no one knew you ordered this. >> then i will not purchase any more beef items, then. that's the way i-- if allowed to purchase only supplies, then i'll only purchase su

burger king also -- i went back and read this column from 2012, and i didn't really know much about burgering as a company, but in some ways it's kind of a perfect symbol of modern american finance capitalism. it's basically been this shell company that's been private equity turned over and over. screamed for clever financiers. in 2002 goldman sachs and two others teamed up to buy burger king. their purchase price included $210 million of their own money. two years later they took burger king public and rewarded themselves with $448 million dividend. this has been around wall street as a corpse to suck the blood out of. >> burger king is going the way of a lot of american corporations that used to be businesses set up to do something like provide hamburgers. it's now a finance company. i mean, essentially it's a finance company. all american companies are becoming finance companies. and, yes, the financial company that is owning burger king stands to make a lot of money by this transaction. it's not that they are investing more money in jobs. in fact, their reputation, this finance company

king burgers tasted.w, with that smoky taste that they get. >> they're broiled -- >> they say they are. it was like a spray -- and he used to get so mad. if you would say anything about something he's long he's like you can tell he's got a horse in the race. >> those blue eyes just -- >> a sociopath in terms of don't say anything about anything he's trying to -- buttons with jcpenney, don't make fun of those, either. but, yeah, he was in. so here he is again, though. >> even before they went public, right? >> yes. >> i mean super early. >> if i remember it was -- >> he met a private deal with them. >> that acquired burger king and spaks had a -- >> special purpose acquisition. >> we will talk more about this transaction in a moment. from single mom to millionaire she's keeping things cool and doing it with style. check out cameron diaz in this photo sporting her pack it. we're going to meet the brains behind this breakout product right after the break. and later are you willing to pay a gym fee or a bagga

go to burger king again. >> boycott bk. >> and i think we should actually make sure that all burgerals have to move to canada. >> how do you punish them? why don't you make a deal in congress? lower the corporate tax rate. >> their fries suck. >> they do suck. >> he never goes to burger king so you can't boycott something you don't use. >> are you saying that he looks like he is in shape? >> did i say that a? >> you said he never goes to burger king. >> i am just saying that -- i don't know what i said. >> he looks like he goes to burger king a lot. >> he looks like he is too snobby to go to burger king. >> and i think he is a little too flabby to not go to burger king. >> the point is burger king is owned by a brazilian company. it is already owned by the brazilians. why are we going crazy that it has to be america. it has to be american made. it is going to be canadian made. it is closer than brazil. this is a good step. >> joe, what do you make of this? >> i am trying to figure out what sex account a morning joe is. >> i'll show you later. >> i don't understand why we fault a com

anyway, let's get this straight, i love burger king. i stick to burgers.ust sell the burger, don't go changing it or confusing the customer. you're a burger joint, be proud of it. i knew what the corporate strategy was back then. i gave the example of two very attractive politicians. one a democrat, became a republican. another a republican who became a democrat. neither got snir close to president. people don't like people who switch parties after getting elected. again, dance with the one that brung you. burger king is going to move its top corporate address to canada. if this is a scam to avoid taxes, fine, good-bye. take your chances up in canada, if we americans see you do it, however, i think millions of us will say good-bye with our money. by the way, it will still be true, if you want a good hamburger, buy an american one. that's hardball for now, it really is. thanks for being with us. all in with chris hayes starts right nowp. >>> tonight, we are all in. >> we just saw him standing, talking on the phone, and the next frame he's laying on the grou

burger king likes. or a buffet likes donuts. stays it's more in tax me more buffett max kaiser remember last year he was saying that the rich are winning the class war and that in fact he invited the government to tax him more because he pays less in taxes than a secretary does and of course he is behind this big merger between burger king the second largest burger seller in america and tim hortons which is the largest coffee and donuts seller in canada now what this is all about is a tweet from stacy l.o.l. now burger king wants to drop its u.s. passport and become a free healthcare loving canadian so this is one of these tax inversion deals where by they're no longer have to pay or be subject to the u.s. tax which is forty percent the canadian tax twenty six point five percent this is really a big story in the financial press warren buffett financing this burger king takeover of jim morton's a canadian going to change to avoid u.s. taxes and i mean we thought back to the one nine hundred sixty s. where you had a lot of young m

so it could be a big break for the burger giant. or, as some people are saying, it's just a big tax dodge. >> reporter: when you think of burger king, or warren buffett, you think american. now the iconic american brand and iconic investor are teaming up to move the fast food chain's headquarters out of the u.s. burger king says it's buying canadian doughnut house, tim horton's. the combined company's headquarters will be north of the border. that makes it easier for the company to write off some of its u.s. corporate taxes and avoid paying some taxes on earnings abroad. warren buffett's company, berkshire hathaway, is chipping in $3 billion to help fund the deal. critics wonder why buffett, the patriotic investor, would back the deal. >> i think we should raise taxes on the very rich. >> reporter: but now he's helping the company potentially avoid u.s. corporate taxes. it's a tactic called inversion. like most businesspeople, he says the u.s. corporate tax system needs to change so that companies don't have a reason to leave, which

burger says it all that's not healthy you know that defines one specific element what they're trying to do with tim hortons is buy a brand which is actually increased in the united states has eight hundred stores now that is taking on multiple different arenas they're going into the coffee thing you know the coffee shop with the wildfire again starbucks they have the breakfast thing against dunkin donuts and they also compete against mcdonald's head to head in canada so burger king could actually increase their portfolio of types of restaurants in the fast food arena by getting into the tim hortons brand if you look we just we're scrolling on the web site now and tim hortons is not necessarily healthy food we're looking at donuts and hauling you know high this is not i understand the burgers not the title but it doesn't mean that grilled cheese is that much better for it which is kind of interesting as well but i you know i want to ask about the private equity firm that now runs burger king i would say though that tim hortons is moving into a more healthy direct right right and same

burger king may soon become canadian.he company confirming it's in talks to buy tim horton's, canadian coffee and doughnut chain. if the deal goes through, burger king would move its headquarters from miami to ontario, adding fuel to the debate in washington where companies, mostly in the health care sector, have been pursuing mergers and acquisitions outside the u.s. to take advantage of lower corporate taxes overseas. canada has a 15% corporate tax rate, much higher than the 35% rate in the u.s. >> if you look at the effective tax rate from last year, they were both roughly 27%. the statutory rate for burger king should move toward 35% and the statutory rate in ontario is 26.5%. so it's more of a long-term tax saving. in the near-term it wouldn't matter that much. but longer term, yes, they should. >> reporter: beyond the tax advantages analysts say there are other reasons for burger king to do this deal. like international expansion. tim horton's has nearly 80% of its business in canada. burger king's wide global reach

burger king, canadian pacific, howard hughes, air products.re is a lot going on. >> many of these are activist plays. some of these are plain vanilla. he bought air products. some of these are past mistakes, they're not all active stakes. hyman.k you, julie wrapping up with bill ackman. a pretty good year so far. " after "market makers, this break. ♪ >> it is 56 past the hour, which means bloomberg is "on the markets." on thea look at equities s&p, surpassing 2000 for the second day in a row. the dow jones industrial average rose above its record closing high. you look at these numbers, and they are just round figures. >> but it is worth taking a moment to ask yourself if they mean anything. could bebe 2002, it 2003, it could be 2004. or 17 145. where are stocks going next? >> they get a bad rap for being a bear. they saw 7% decline in the s&p to 1850, partly because she is wearing -- word about things like profit margins. >> she sees the fed is the key player in deciding whether stocks go up or down. jeremy siegel of the wharton school of bus

burger king's burger, it means lunch and maybe dinner but not breakfast.ething burger king has struggled with for a long time. the tim hortons side, they have never really done all that well. they have done ok, and burger king would be a good combination. >> what you think about warren buffett? he said he wanted to work with them more. it seems he is offering a vote of confidence for the tax and version deal. it makes sense to us but the white house expressed a little bit of anger on this sort of thing. >> from for the copeland of you, that is above my pay grade. from an economic point of view, we believe the deal has a great deal of merit before you get to the issue of tax aversion. >> before you take that into account, it is good business. >> absolutely. the two companies have come to matter he skills sets. tim hortons has a tremendous brand-name and great locations. when target came into canada, part of the problem was they came into second-tier real estate and meals -- meanwhile, timmy's has great locations. >> thank you for joining us. it is a deal we

these are the latest headlines from burger king.looking through the headlines and seeing what else is happening right now. ask the subhead is very important. this goes to the emotion that our erik schatzker brilliantly described yesterday. i do not think it is a small idea that within $94.05 for canada's tim hortons and the 51% ownership by the buffet consortium -- there is a commitment to canada. there is more going on than finance. there are some delicacies going on. >> there is a commitment to breakfast as well. [laughter] i am serious. part is how to sell breakfast, how to beat mcdonald's. you can do it with tim hortons donuts, may be. that is part of their plan. >> burger king has obtained 12.5 billion dollars of financing, and 3g capital, the brazilian private equity firm, will own about 51% of this new company. they will be the majority owner. burger king and tim hortons will remain independent brands. >> the key system here is berkshire will have no operating or management duties. it is a preferred equity financing with jp m

burger king, like the burger and tim horton would help with the breakfast growth of the business. it is not as though they have incredible rate naked -- recognition here in the u.s.. could you leverage that name to improve the breakfast business? is, is that a realistic proposition? would that add a lot of value to the business? tim hortons is head problem's itself. >> are they competing against one another? would even help? is the competition really to bully? >> canary yes, but not in the breakfast space. maybe divides some leverage. >> they have been trying to expand in america for a number of years already. it does not make much money here. does the billionaire genius behind burger king no how to turn tim horton into something more profitable? >> maybe. we have not seen much success here recently. there is a small strategic opportunity to put some coffee and breakfast items into burger king. i doubt it can go the other way. this is very small. put this in perspective. you are canadian. how important is tim horton to canada. what would this be like if an american fast food compa

this is a deal about doughnuts and burgers. burger king is seen as american.dea that an american company is now going to canada where they will get a more favorable tax rate. this really pushes the issue much more to center stage. >> ten seconds. what's the synergism between burgers and donuts? you won't see them in the same store. >> you know the fast food places where you see a number of different doughnuts, burgers, pizza. >> i know. >> you can get people for breakfast, lunch and dinner. >> dance with the one that brung you. burgers stick with burgers, doughnuts stick with doughnuts. my corporate brilliance. thank you. up next, we stayed up late with jay leno for 22 years. now we'll talk to one of the producers who worked the late shift with him. this guy knows what happened. fascinating stuff. i saw some of it myself. we'll be right back with the place for politics. [ male announcer ] it's one of the most amazing things we build and it doesn't even fly. we build it in classrooms and exhibit halls, mentoring tomorrow's innovators. we build it raising roofs,

today it is burger king and the

today it is burger king and the big surprise in all this, the burger king deal today, shifting its global headquarters to canada, made possible by warren buffett, a poster-child for the white house's so-called tax fairness campaign in america. for more on this steve moore, senior economist at the heritage foundation and fox news contributor. i got to tell you, steve, i have so much to get to in this segment. there are so many outrages here. i want to start with taxes because you maintain, even though the company says different, you maintain this is a tax issue. they are trying to avoid u.s. taxes. give us the details. >> well, of course the company would never say that. and just like when companies move from california to texas they don't say they're moving for taxes but they are. you're talking about a situation where the corporate tax rate in the united states is about 38, 39%. in canada where this company would move to it will be closer to 25, 26%. there is a big advantage. the advantage is to shareholders. i would make the case that, this is a business and investors show these ceo's h

i was flipping burgers.ing through the window and seeing 200 people waiting outside and i'm like, how are we going to serve all these people? we are doomed. >> it's a good problem to have. it's more than typical beef burgers. >> far from it. >> describe what you would get if you went into bareburger? >> i can walk into any of our restaurants and i can see a vegan, vegetarian, somebody on a paleo-diet, someone on a gluten-free diet and somebody who just likes a good burger and they can all sit at the same table. that has been the secret of our success. the organic, sustainable almost comes natural to us. you come to our restaurant and is a full experience. full-blown restaurant. we want people to sit there for 45 minutes, an hour and enjoy the whole experience. >> how many locations, 19? >> 19. we have one opening in philadelphia. i will be there shaking hands and making sure everyone is on top of their game. >> you want to add seven more? >> seven opening this year. one of our most exciting projects is we ar

ice and they take time off for burger king -- i assume they time off for burger king.ut the level -- >> three for every legislature. >> absolutely. this lobby has grown in power, as the tax rates have fallen since the 1980's. we now have cut corporate tax rates in the u.s. roughly in half. there is a race to the bottom worldwide. this just has to be seen as part of that global phenomenon. persists ind states cutting its tax rates, it is going to have terrible impact on other countries, developing countries in particular. if there is no corporate income tax in the u.s., there is no tax thatt for the taxes american companies pay abroad. so those countries will be forced to reduce their tax rates as well. not just about inversions. it is part of a growing, think ,ery radical view on the right to essentially get rid of the corporate income tax. >> last point, i asked you about google and apple. tim dickinson, if you could explain what they do as we wrap up. >> apple has this amazing deal where they have got essentially a shadow company in ireland. it is incorporated in ire